Introduction

Export bill discounting means that Bank of China buys from the exporter the undue time draft accepted by banks or the undue debt claim honored by banks under the export L/C, or the undue debt claim guaranteed by banks under the documentary collection. If the issuing bank fails to pay at maturity, Bank of China has the right of recourse.

Functions

The product aims to meet the short-term financing requirement of exporters under the usance L/C.

Features

1.Acceleration of capital turnover. Get the fund immediately, so that capital turnover can be accelerated and financial pressure can be eased.

2.Simplification of financing procedures. Financing procedures are more convenient when compared with those for working capital loans.

3.Less financial expenses. The customer can choose the funding currency in accordance with the interest rates of different currencies in Bank of China, so as to minimize the financial expenses.