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Corporate Banking

Forfaiting

Introduction

It refers to the way of financing that at the request of the letter of credit beneficiary (exporter), our bank, without recourse, buys in full the notes receivable or receivables under the letter of credit that are accepted or paid according to the commitment by the issuing bank or confirming bank.


Scope of application

Unit customers engaged in export trade.


Features

· There is no need for providing additional security or for using the lines of export enterprises.

· Export enterprises can complete cancellation and tax refund procedures, and lock financing costs.

· Handle foreign exchange settlement in advance and lock the exchange rate risk.


Conditions

1. Customers present an application to our bank for handling Forfaiting business and submit relevant application materials.

2. Our bank goes through the internal examination and approval procedures for the accepted businesses.

3. Customers confirm transactions and quotations and sign a letter of money transfer.

4. The financing is released.


(Note: For details, please call 961 111 or come to the nearby GRCB outlet.)

Call Centre 961111 Micro Loans Services

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