Export Settlement

1. L/C advising

• A series of services provided to the exporter by us after we receive an L/C and relevant amendment from the issuing bank, such as advising L/C, checking L/C terms and pointing out problems if any. Our global-wide correspondent bank network provides a strong support for us to advise L/Cs to you efficiently and securely.

• If you are unable to assess the issuing bank's risk or the country's risk, you can contact BOC to arrange a confirmation or silent confirmation to the L/C in favor of yourself. Adding our confirmation means we guarantee to effect payment upon documents presentation provided all terms and conditions of the L/C are complied with. Confirmation to an L/C will provide you a peaceful mind of receiving proceeds safely.

• If you are in a position of intermediary between the importer and the supplier of the goods, you may wish to consider using a transferable L/C to get the profit you plan to take, then require the importer to apply for a transferable L/C advised through BOC;
• A series of services will be provided to you by BOC under transferable L/Cs, including advising the L/C to you, transferring it to the 2nd beneficiary(ies) as per your instructions, notifying you upon receipt of documents presented by the 2nd beneficiary(ies), presenting documents after your replacement of the documents and remitting proceeds to the 2nd beneficiary(ies) only upon receiving payment from the issuing bank.

• A series of services will be provided to you by BOC upon your presentation of documents under L/C to us, including examination of documents, sending the documents by courier service to the issuing bank, claiming reimbursement, tracing payment, and arrange settlement, etc. Upon your requirement, we may negotiate or discount the documents and make an advance payment to you if it is a complying presentation.

• First-class professional service
• Effectively risk-evading system
• Comprehensive services
• Client first——BOC provide clients with the most efficient service in shortest period
• Global network

• As the beneficiary of the L/C, you may consider arranging an assignment of the proceeds to another party. Let us have your letter of assignment and we will process as per your instructions.

• Entrusted by the exporter, Bank of China, with the financial and commercial documents submitted by the exporter, collects payment from the importer via its foreign correspondent banks or sister-branches;
• Convenient and easy to operate as compared with letter of credit;
• Low banking charges, helping the exporter to save expenses and control costs;
• The importer can pick up the goods only after acceptance or payment;
• As for the exporter, the risk is relatively lower than that of credit sale;
• D/P is recommended when the exporter stay in a seller’s market;
• D/A is recommended when the exporter stay in a buyer’s market and importer needs a financial period;
• Compared with inward remittance after shipment, the forward payment is relatively guaranteed.

• Clean collection means collection of financial instrument not accompanied by commercial documents;
• The charge for clean collection is relatively cheaper;
• Applicable for small amount of payment under trade or non-trade item.

• The most convenient and quickest export settlement tool;
• The way of settlement that, entrusted by your cooperation partner, BOC foreign correspondent banks or sister-branches remit to us and instruct us to pay the fund to your account;
• The way of remittance includes telegraphic transfer (T/T), mail transfer (M/T), and banker’s demand draft (D/D), among which T/T and D/D are used most commonly;
• Relatively lower costs and helping the exporter to reduce the financial expenses and control the costs.