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Import Collections
2017-10-26
(I) Product function
Our Bank accepts the entrustment of a foreign agent or affiliated bank, collects import payment from the importer in accordance with the instructions of the agent or affiliated bank, and delivers the relevant commercial documents to the importer.
(II) Business characteristics
1. The expense is low. The bank expense is relatively low, which is beneficial for enterprises to save financial expenses;
2. It is easy to operate. Compared with L/C, it is easier in terms of procedures and operation;
3. The capital occupation is less. At the stage of preparation and shipment of goods, the exporter does not need to pay in advance or occupy the capital. After payment or acceptance, the exporter can immediately obtain the goods documents and dispose of the goods.
(III) Applicable objects
1. Importers who wish to make payment to their exporters by a simpler and cheaper method than L/C;
2. Importers with sufficient working capital and can adopt D/P method;
3. Importers with insufficient working capital, need the exporter to provide financing facilities for long-term payment, have a good cooperative relationship with the exporter, and can adopt D/A method.
(IV) Business procedure
1. The collection bank provides the documents under the import collection to our Bank;
2. After submitting the original import contract and paying for the goods, the Clients will handle the release procedures.
3. Our Bank makes payments to the exporter’s collection bank.
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