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International_Settlement

Inward collection


Introduction:
i.Our bank shall advise the customer receipt of documents under inward collection in accordance with instructions of remitting bank, and make payment, acceptance and presentation. Corporate customer may request the seller to appoint our bank as the collecting bank after having signed the trade contract under collection. Our bank shall release the documents,make payment or acceptance in accordance with the instruction of the remitting bank;
ii.It is divided into documents delivered against sight payment, after sight payment and acceptance;
iii.Our bank shall deliver the documents after payment or acceptance is made, customer may pick up the goods with the documents.
Feature:
i.Inward collection is kind of commercial credit, which is simple and economical compared with a letter of credit;
ii.Fast processing speed, our bank shall advise the customer once we received the documents.
Service objects:
Corporate customers that have the operating right on import and export.
Business process:
i.Customers just inform the seller of the name and address of our bank for trade under inward collection;
ii.Our bank shall deal with such inward collection business as payment or acceptance against payment in accordance with instructions of remitting bank.