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Shipping Guarantee
2017-10-26
(I) Product function
When the imported goods arrive prior to the shipping documents, the clients (importers) apply to our Bank for a written guarantee of joint and several liability to be provided to the carrier or his agent for the delivery of the goods.
(II) Business characteristics
1. The clients pick up the goods and sell the goods in advance with the guarantee of the Bank, so as to accelerate capital withdrawal and reduce capital occupation;
2. Help the importers to obtain the title documents, pick up the goods and resell the goods before the arrival of the documents, so as to take advantage of favorable market conditions to seize market opportunities;
3. Help importers to pick up goods promptly, so as to avoid demurrage charges.
(III) Applicable objects
Importers whose import goods have a shorter sea voyage and the goods arrive before the arrival of the documents.
(IV) Business procedure
1. After receiving the shipping company’s notification of the arrival of the goods, the clients will submit the application for warranty of delivery to our Bank;
2. Our Bank investigates the arrival time, specific goods and quantity of goods under the warranty of delivery.
3. The clients sign relevant credit extension and warranty contracts, etc. with our Bank, implements the credit extension conditions, and review the materials of warranty of delivery;
4. For the warranty of delivery loan, our Bank will issue the warranty;
5. Cancel the warranty of delivery.
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