Customer relationship is important to us. In addition to a complete product line we offer, our trade finance division employs professional product managers who are dedicated to provide customers with the most specialized financial advisory services.
I. Export Finance
- We offer pre-export loans against purchase order and letter of credit, as well as shipping guarantee, L/C notification and L/C confirmation services, etc.
- After the merchandise is shipped out, we also provide export letter of credit negotiation, export collection under Letter of Credit, D/A, D/P and outward bills collection, etc. to assist our customers in receiving the funds timely.
- Our Export Finance Product Overview:-
- Export Back-to-Back Letter of Credit
In order not to reveal sensitive pricing information on overseas transactions, customers may consider applying for back-to-back Letter of Credits against the Master L/C to avoid the need to make payments or issue checks in advance. Back-to-Back L/C is available in local or foreign currencies. Local beneficiaries only need to pay after the receipt of overseas payment.
- Transfer of Letter of Credit
- Assignment of proceeds from Letter of Credit
Customers may apply for an assignment of proceeds against their letter of credit. Upon payment receipts from the issuing bank, or upon negotiation of L/C by the customer, the Bank will remit the proceeds from the L/C to the assigned suppliers.
- Forfaiting
Companies may encounter the following problems when they receive a usance L/C:
- Companies have the need to make their financial reports appear more attractive
- The credit line on export negotiation is not sufficient
- While the buyer requested a longer payment period, the seller expects a higher working capital turnover rate.
- The beneficiary has problems negotiating L/C with other banks due to the poor credit rating of the usance L/C issuing bank.
- Companies may experience problems negotiating the usance L/C if the issuing bank is located in a country with foreign exchange control, such as PRC, Turkey, Latin American, or East European countries.
Our forfaiting services provide efficient solutions to the above problems.
II. Import Finance
To meet the different funding requirements of importers, we provide import trade services including issuance and amendment of L/C, loans against imports, collection of inward bills, shipping guarantees, finance for import of machinery or equipment, or finance against overseas receivables, etc. We also provide forward contract services as hedging instrument against exchange rate risks.
III. International Foreign Exchange Business：
We are actively establishing correspondent banking relations with major banks in the world to provide our customers with the most efficient inward and outward remittance services. Outward remittance services are available in the form of telegraphic transfer or demand drafts. Customers may also arrange foreign currency inward remittance by SWIFT for credit into accounts held with us, by requesting the remitter to fill in the relevant forms in the remitting banks.
IV. Cross-Strait Business
We have received authorization from the government to handle cross-strait banking business, for customers who need to issue L/C to companies in Mainland China or to handle L/C’s issued by companies in Mainland China. To meet different client requests, our well-experienced product managers are also available to provide consultation service and tailor-made business plans for this triangle trade.
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