About the product

After the exporter ships the goods, the Bank reserves the right of recourse to provide short-term financing to the exporter with the export documents submitted by the exporter.

It can be divided into documentary compliance under L/C, documentary non-compliance under L/C, D/P collection and D/A collection.

Product features

1. Accelerate the capital turnover. When encountering temporary difficulties in capital turnover after shipment and before collection, the exporter can use outward bill financing to alleviate the capital pressure.

2. Simplify the financing procedures. The procedures are simple and convenient compared with the working capital loans.

3. Improve the cash flow. It can increase the current cash flow and thus improve the financial status.

4. Save financial expenses. Customers can choose the financing currency according to the interest rates of different currencies. As the foreign currency’s interest rate is far lower than the RMB’s interest rate, the product can help save financial expenses.

5. Lower the credit threshold. For export documents that conform to the documents under the letter of credit or have been accepted by the acceptance bank, they can be handled as low-risk business without occupying the credit line of the exporter in the bank.

Application

Exporters who have temporary financing needs after the shipment of export goods under letter of credit and collection settlement.

Rate

No handling fee is charged. The financing interest rate is subject to the domestic and foreign currency trade financing interest rate of the Bank.

Handling process

1. The exporter submits the export documents and the application form for outward bill to the Bank.

2. After the Bank checks the documents and approves the credit, the exporter signs a financing agreement with the Bank.

3. After checking the documents, the Bank deposits the bill money into the exporter's account.

4. The Bank sends the documents to the importer's bank (the issuing bank or the nominated bank under the letter of credit, or the collecting bank under the collection) for remittance.

5. After receiving the documents, the importer's bank presents them to the applicant under the letter of credit or the payer under the collection.

6. The importer's bank makes payment to the Bank when it is due to return the bill fund of the Bank.