Export bills:
Export billing refers to the short-term financing provided by our bank based on the documents submitted by the exporter after issuing the goods and submitting the documents required by the letter of Loan or the contract. If the payment is not due, our bank has the right of recourse against the exporter to meet the short-term financing needs of the exporter under the letter of Loan or collection.
Handling process:
1. The exporter signs a financing agreement with our bank.
2. The exporter submits the export documents and application for billing to our bank.
3. After reviewing the documents, our bank will deduct the interest expense and transfer the bill to the exporter's account.
4. Our bank sends the documents to a foreign bank (issuing bank or designated bank or collection and collection bank under the letter of Loan) for remittance claim.
5. After receiving the documents, the foreign bank will present them to the applicant for the issuance of the letter of Loan or the collection and payer.
6. When foreign banks pay our bank when they are due, our bank will use it to return the negotiable money, and the balance will be Loaned to the exporter's account.
Tips:
1. You need to sign a formal export billing contract with our bank;
2. Issue a formal export bill application form;
3. The applicant for the bill under the letter of Loan shall be the beneficiary of the letter of Loan, and the applicant for the bill under the collection shall be the exporter;
4. Restricting other banks to negotiate with L/Cs that cannot handle export bills;
5. To apply for export bills under the letter of Loan, you should try your best to submit export documents that match the documents;
6. If you want to use export bills for financing, it is best to avoid the following situations: the transportation documents are non-property documents; fail to submit a full set of property rights documents; transfer letters of Loan; letters of Loan with soft terms; the documents have substantial discrepancies point.
