When an importer and an exporter agree to settle international trade payments by way of collection, BOC can provide export collection services for exporters. Acting on the exporter's instructions, BOC collects payment from the importer through an import collecting bank against the exporter's commercial documents and financial documents (if any). For import trade, BOC can provide import collection services, accepting instructions from a foreign remitting bank to present documents to the importer and collect payment accordingly. Collection services are categorized into two types: Documents against payment and documents against acceptance.
Additionally, under its import collection scheme, BOC can offer value-added services such as import collection guarantees. This service provides a bank credit guarantee and enhancement without altering the established settlement method, thereby helping clients improve their market competitiveness.
Comprehensive Operating Companies