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International Settlement
 

Import Letter of Credit
Upon receipt of an L/C Application Form from a customer, and upon approval from ICBC, ICBC can issue a Letter of Credit to the customer's exporter based on the terms and conditions specified in the customer's application. After ICBC has received all relevant commercial documents sent by the customer's exporter's bank, ICBC will proceed with the acceptance (or payment) to the customer's exporter or its assignee provided all documents are verified as being without discrepancies.
ICBC can also offer Back to Back L/C, transfer L/C, revolving L/C and standby L/C services.

Export Letter of Credit
To ensure that the customer receives all relevant information regarding a trade finance transaction and to that such a transaction is approved, ICBC can open export L/Cs for the customer's importer as well as acting as the advising bank.

Import Collection
Acting on the instructions from the overseas remitting bank, ICBC will present to the customer all relevant commercial documents received for payment/acceptance. Goods will be released once the payment/acceptance is made. The services ICBC can offer include: photocopy of bills, acceptance, payment, liaison with the overseas remitting bank and exporter.

Export Collection
After goods have been shipped, the customer can submit all his commercial documents to ICBC.We will immediately check these documents and send to them to the customer's specified bank in the importing country for collection.

Factoring
Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to us (called a factor) at a discount. The corporate will sometimes factor its receivable assets to meet its present and immediate cash needs.