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Documentary Collections
2017-10-26
(I) Product function
The exporter submits the export commercial documents and financial bills to our Bank, and entrusts us to collect the payment from the importer through the overseas collection bank.
(II) Business characteristics
1. The expense is low, which is beneficial for enterprises to save financial expenses and control costs;
2. Compared with L/C, it is easier in terms of procedures and operation;
3. The importer can only take delivery of the goods after acceptance or payment, and the exporter bears less risk.
(III) Applicable objects
Exporters who know the credit position of the importer and have sufficient capital to prepare and deliver the goods.
(IV) Business procedure
1. The clients submit the collection documents to our Bank for review;
2. Our Bank will send the export collection letter together with the collection documents according to the clients’ instructions.
3. After receiving the payment cash from the collection bank, our Bank discharges the payment to the clients’ account.
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