I. Introduction This is a service whereby payment will be made by ICBC on behalf of you against your import L/C, or under payment terms of cash on delivery or remittance. The facility helps solve your liquidity, increase your credibility as a result of the fast payment to your supplier.
II. Features and Advantages 1. This service addresses your need of short-term cash. Faster cash turnover since you pay the goods in far day at the price of near day. 2. Flexible term. You can choose any term since ICBC make payment immediately 3. Low cost. ICBC offers preferential rate to lower your cost.
III. Target Clients When you make payment to your supplier.
IV. Operation Guide Submit the following to ICBC: 1. Agreement on Payment Against Import; 2. Trust Receipt; 3. Other documentations required by ICBC.
V. FAQ 1. Payment currency is the L/C currency; 2. Payment period is usually within 120 days.
VI. Statement Information herein is for reference only. Industrial and Commercial Bank of China Limited reserves the final right of interpretation. Refer to the announcements and regulations of local branches for further details.