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Export Credit Global Banking International Settlement Export Credit
Service Object

Foreign trade companies, industry and trade companies, enterprises, foreign-funded enterprises and wholly foreign funded enterprises registered in China with import and export operation right.

Service Content

1. Audit the authenticity of export credit and modification, and notify domestic exporters.
2. Transfer and credit transfer in other place.
3. Packing loan.
4. Audit the shipping document sent by exporter, and deliver the document after examination.
5. Negotiation, export bill purchase, discounts.
6. Pay freight, premium, commission and conditional payment business.
7. Responsible for inquiry, reminding, claiming for short-term payment, claiming for interest, deliver document, etc.

Service procedure of credit export business

1. Letter of credit notification
The bank notifies credit beneficiary (domestic exporter) after receiving document from abroad and verifying the authenticity. 
2. Document audit
Beneficiary submits document prescribed by full set of letter of credit and original letter of credit for audit to the designated bank or negotiating bank, the client shall fill in the document audit record, and indicate special requirement so that the bank can contact with document modification and record account. If documents are inconsistent, the client is confident to collect foreign exchange, and the bank can also be authorized to direct issue document. However, if the client applies for export bill purchase, it can be transacted only if the documents are consistent.
3. Reimbursement
Our bank demands the reimbursing bank for reimbursement through associated bank or agency bank according to the reimbursement route and method (telegraphic or mail) designated by the letter of credit, or send document to the issuing bank for payment according to the requirement of letter of credit. (see aforesaid service charge standard in the expense rate table)
4. Exchange settlement
Transfer in relevant account provided by beneficiary after receiving the payment, the client can inquire relevant exchange collection situation according to the bank negotiation number (recorded in document audit record), however, the following circumstances shall be transacted according to relevant regulation:
(1) The export earnings of foreign-invested enterprise are recorded into the foreign exchange settlement account; the part exceeding the ceiling of the account shall be settled according to the regulation or transacted according to the regulation of SAFE.
(2)As for the exchange collection under agency export, and export earnings of beneficiary in other place, original currency transfer or transfer after settlement is transacted according to the regulation of SAFE. After external exchange collection, the bank will transact account record or transfer procedure according to the client instruction.

Export credit financing type  

(1) Packing loan (the financing ceiling is 80% of the credit amount).
(2) Export bill purchase/discount.
(3) Purchase bill (clean discount).

 

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