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International_Settlement

Outward collection


Introduction:
It is business that the bank delivers documents and reimburses to the buyer (importer) on behalf of the seller (exporter), which is one of the fundamental methods in international settlement.
Feature:
i.Our bank presents foreign exchange professionals which is major matching, experienced and policy acquainted;
ii.Transferring fund through SWIFT system which is safe and quick;
iii.Offering one package service including purchase and sale of foreign exchange which is flexible and preferential;
iv.Our bank shall post the documents the day we received them.
Service object:
i.Individual customers
Individual customers could deal with outward collection in our bank with ID card and foreign exchange draft which is issued by overseas corporations, individuals or banks, our bank shall post the draft to a bank abroad, advise and release the payment to the customer after it is paid by the remitting bank.
ii.Corporate customers
Corporate customers may entrust our bank to be collecting bank after having signed a trade contract under collection, our bank shall post the documents after presentation for early recovery of fund.
Business process:
i.Customer shall sign a trade contract with importer under collection;
ii.Customer make shipment and prepare documents. Customer shall make shipment of good and prepare such related documents in accordance with the trade contract as invoice, packing list and bill of lading,etc;
iii.Applying for a collection. Customer shall present relevant documents and letter of entrustment on collection to our bank;
iv.Receive the payment.