|
Name
Issuance of L/C with Credit Line
Introduction
Issuance of L/C with credit line refers to such business as Bank of China Rotterdam Branch issues import L/C for a customer via deducting its credit line without collecting full margin.
Functions
The product aims at meet importer's credit extension demand when applying for import L/C.
Features
An import L/C can reduce the fund occupation of importers, speed up capital turnover, and enhance the efficiency of capital and the benefit of operation.
Charges
The charges for issuance of L/C with credit line will be determined by Bank of China Rotterdam Branch based on Bank of China's rules on the interest rate and charges and negotiation with the customers.
Target Customers
Importers who want to partially or fully exempt from margin for issuance of L/C due to lack of working capital or emerging of other investment opportunity.
Application Qualifications
1. The applicant shall have a corporate account in Bank of China Rotterdam Branch;
2. The applicant shall have credit line in Bank of China;
3. The applicant shall provide legal and valid guarantee accepted by our bank.
Procedure
1. At the request of the importer, the Branch determines the credit line for issuance of L/C based on its solvency, performance record and guarantee conditions; the credit line is under balance control and can be circularly used, importers can be partially or fully exempted from margin for issuance within the credit line; importer may apply for credit extension for single transaction upon failure to obtain credit line;
2. Bank of China Rotterdam Branch accepts importer's application for issuance of L/C. The L/C will be issued under credit line (or credit extension for single transaction);
3. Upon receipt of L/C documents submitted by exporter, the Branch shall transfer the money of importer for payment after examination, and write corresponding amount down the credit line of importer (or settle the credit extension for single transaction).
|
