WHAT——What is clean collection?

•Clean collection means collection of financial documents not accompanied by commercial documents.

WHY——Why is clean collection beneficial for the importer bring to the payee?
•Safety – To collect payment directly from the payer by mail may generate unexpected risk. such risk can be avoided if the collection made through international bank network , which is safer.

•Convenience – International bank network can help the payee to collect payment from all over the world handily.

•Swiftness – If “cash letter” agreement have been signed between collection banks, the time of payment can be greatly shorten and the service becomes quite convenience and swift.

•Low charge – The charge for clean collection is relatively cheaper.

WHEN——When to choose clean collection?

•For small amount of payment under the trade and non-trade item.

•For foreign currency cash (including damaged cash) not exchangeable in china.

•For collection business for valuable vouchers such as foreign exchange check, foreign bond, deposit receipt etc.

•Transactions in which it is impossible or inconvenient to provide commercial documents, such as sending samples, high-tech products (software etc.) transaction, seasonal commodity transaction, and intangible trades like service and technology transfer.

HOW—— How to handle clean collection operation?

•the Operation flow（Direct collection from the paying bank is shown in bold line）

•Attentions

1.Clean collection is applicable to valuable vouchers under various trade and non-trade items.

2.Currency marked on the valuable vouchers should be exchangeable under normal conditions.

3.It is difficult to collect for documents restricted to certain.

4.Risk like counterfeit and altered may easily exist on endorsed or transferred transaction, the holder should take precaution.

5.For unfamiliar documents, it is easily incurred fraud for those with extremely large amount or issued by banks with questionable credit standing.

6.It is easily incurred fraud for those document with large amount used for investment, getting loan or mortgage.

ADVANTAGES—— Advantages of Bank of China

•Predominant credit ——Bank of China has a long history of over 90 years and has been awarded “the Best Bank in China” by “Euromoney” for successively 8 times. With the progressively improved system of corporate governance, overall integration of operation flow, wholly-upgraded service efficiency and rich financial products, BANK OF CHINA has continued to advance toward its goal of becoming a leading universal international bank;

•Leading technology —— A large number of professional personnel who are proficient in Unified Collection Rules and relevant legal practitioner, observe the professional rule of operating under international customs and provide specialized services with high efficiency for various clients;

•Clear collection channel —— To make collection quickly, we have many branches  in the clearing centers for major currencies all over the world, having signed various collection agreement with many global major banks.

•Global network —— With 12529 domestic branches, 560institutions scattered in Hong Kong, Macao and oversea areas and nearly 4000 agency banks, BANK OF CHINA, exclusively in domestic market, has established a multi-nation and multi-layer high-speed global payment network established through 90 years accumulation.

•Effectively evading risks —— Engaging in international business for so many years, rich experience accumulated in preventing against counterfeit, helping our client to dissolve various risks.

•Complete range of currency —— Handling business in complete range of currency, holding absolute leading advantages in the same field in China.