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Export Agency Payment
2019-10-30
(I) Product function
The clients apply to our Bank for entrusting domestic and foreign banks to pay our clients (exporters) the receivables generated under the export L/C or export collection in advance, so that clients can complete the production and processing of export goods without occupying the capital and facilitate the capital turnover.
(II) Business characteristics
1. Accelerate capital turnover. The clients of our Bank (export enterprises) can get the payment in advance before the importer makes the payment, which accelerates the capital turnover;
2. Improve cash flow. Be able to increase the current cash inflow of enterprises, thus improving the financial status and providing financing capacity
3. Be able to obtain financing under export L/C and export collection;
4. Support domestic and foreign currency transactions, and the financing term should match the trade operation cycle of export enterprises.
(III) Applicable objects
Foreign trade enterprises, industrial and trade enterprises, foreign-funded enterprises, or self-operated export enterprises with the right of import and export business and the need of financing.
(IV) Business procedure
1. When the clients (export enterprises) apply for the limit of credit extension in our Bank, our Bank will review and approve the credit extension in accordance with the provisions and authority of the credit business;
2. The clients submit business applications and background information;
3. After the review is passed, our Bank will make centralized loans and handle the review of charge off. The negotiation bank will make external payment according to the instructions of our Bank and send a confirmation mail to our Bank.
4. On the due date, the clients will return the principal and interest of the financing to our Bank on time and resume the corresponding limit of credit extension.
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