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Product Overview
Target Customers
Corporate customers permitted to conduct self-managed import business and settling with overseas exporters by letter of credit.
Term
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.
Features
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.
Application Procedures
The enterprise submits a copy of the import contract and the required attachments to the bank.
The enterprise fills in Application for Issuance of Letter of Credit.
The enterprise pays a certain percentage of margin deposit to the bank.
Mortgage, pledge or other guarantee procedures are implemented.
The Bank issues a Letter of Credit in accordance with the agreement.
