Hotline : 

Current Position : Home > Brussels Branch > Corporate Banking > Trade Finance Services > Trade Settlement
Online Banking

Examination of Documents and Negotiation under L/Cs

Name

Examination of Documents and Negotiation under L/Cs

Introduction

Examination of documents and negotiation under L/Cs refers to comprehensive services with integration of document examination, document mailing, and reimbursement claiming provided by Bank of China Brussels Branch for exporters under L/C.

Functions

The product meets the requirement of the exporters for settlement and collection of payment under L/C.

Features

1. The product meets the requirement of the exporters for settlement and collection of payment under L/C.

2. Low risk. The importer's commercial credibility is replaced with the issuing bank's bank credibility, ensuring a conditional payment undertaking for the exporter.

3. High initiative. As long as the document quality is ensured, the unconditional payment undertaking will be granted by the issuing bank, while the document quality is under the full control of the exporter.

4. Shifting the cost. Banking fees related to the issuance of L/C can be borne by the importer, which is advantageous for the exporter.

Charges

The charges are subject to the charging principle and rate stipulated in the relevant rules of Bank of China Brussels Branch.

Target Customers

International trade customers who use L/C for settlement. The consideration is mainly based on the following factors:

1. Exporters who are not familiar or confident with the credibility of the importers, and require additional commitment from a bank;

2. Exporters who want to apply for the packing loan from a local bank to finance the goods to be exported.

Application Qualifications

1. All documents needed for L/C / amendment;

2. The applicant shall submit a client documents presentation advice specifying the name and number of copies of documents to be presented;

3. An duplicate is required for L/C advised by other banks;

4. Customers who have no current account in Bank of China Brussels Branch are required to provide the name and account number of correspondent banks.

Procedure

1. The exporter (beneficiary) presents export documents to Bank of China Brussels Branch after the preparation and shipment of the goods under the L/C terms;

2. After examining the documents, Bank of China Brussels Branch mails the documents to the foreign issuing bank or the nominated bank to claim reimbursement;

3. The foreign issuing bank presents the received documents to the applicant under the L/C;

4. Foreign issuing bank pays Bank of China Brussels Branch; if the exporter has a current account at Bank of China Brussels Branch, the money will be credited to its account; if the exporter has no account in Bank of China Brussels Branch, the money will be transferred to its account at corresponding bank under its instruction.

Related Information