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Letter of Credit
Target Customers
Corporate customers permitted to conduct self-managed import business and settling with overseas exporters by letter of credit.
The validity term of L/C shall not exceed 2 years (inclusive) in principle, and the payment term of Usance L/C shall not exceed 180 days (inclusive) in principle. For import L/C business under the low-risk guarantee method, the L/C term may be reasonably determined according to the corresponding trade contract and shall not be subject to the above stipulations.
Bank credit is used to strengthen commercial credit and improve importers’ negotiating position; bank credit is involved in the import business, effectively controlling the right to cargo, shipment time and cargo quality through documents and L/C terms.