About the product
When the exporter exports goods on credit or provides services overseas under the settlement mode of remittance (T/T) or D/A (D/A), the Bank can provide short-term financing to the exporter with export commercial invoices and other relevant documents.
Product features
1. Accelerate the capital turnover. The importer obtains the financing money before paying the goods, thus accelerating the exporter's capital turnover.
2. Avoid exchange rate risks. Obtain money in advance through financing business to avoid unfavorable changes in the forward market exchange rate.
Application
Exporters who have temporary financing needs after the shipment of export goods under remittance (T/T) or D/A settlement.
Rate
The handling fee is charged according to 0.1%-1.5% of the invoice amount, and the financing interest rate is based on the domestic and foreign currency trade financing interest rate of the Bank.
Handling process
1. The Bank signs a cooperation agreement with the exporter on export invoice discount.
2. The exporter ships the goods and sends the documents, submits the financing application to the Bank, and transfers the relevant accounts receivable to the Bank.
3. After checking the authenticity of documents and trade, the Bank provides renews financing for the exporter.
4. After the account receivable are due, the importer pays according to the route designated by the Bank. After deducting the financing principal and interest and related expenses, the Bank pays the balance (if any) to the exporter.
