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Export L/C Packing Loan
2017-10-26
(I) Product function
The clients apply to our Bank for a special loan against the original L/C issued by overseas banks for the purchase, production and shipment of the goods under the L/C.
(II) Business characteristics
1. Facilitate exporters’ access to working capital before delivery;
2. The business handling procedures are simple, and the loan capital is used for special purposes;
3. The financing currency and term are matched with trade behavior.
(III) Applicable objects
1. Export enterprises that encounter difficulties in temporary capital turnover when preparing for production;
2. Export enterprises in the Seller’s market and whose overseas importers can open L/C orders in advance.
(IV) Business procedure
1. The clients (exporters) apply to our Bank for the review of the limit of credit extension;
2. The clients submit materials to our Bank, including financing application, financing agreement, original L/C, etc.;
3. After passing the review, our Bank will issue packing loans to the clients for their production, stock preparation and other links.
4. The clients (exporters) return financing to our Bank after receiving foreign exchange.
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