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Trade Settlement and Financing
 

ICBC Doha could provide the customers with Export Collection, Import L/C, Import Reimbursement, Outward Bill Credit and Discount, Forfeiting, Factoring without recourse and Factoring with recourse, Invoice financing, etc.

1. Import Documentary Bill
When your company needs to pay foreign exchange to outside under the L/C or collection terms, ICBC offers import documentary collection services to solve your liquidity. ICBC will make payment to your overseas exporter and get back the shipping documents for your company to start processing or sales.

2. Import T/T Financing 
If the payment term for your supplier's goods is cash on delivery, ICBC provides import T/T financing for your payment to help you solve cash turnover problems. Your company will be more recognized by your supplier because of your fast remittance.

3. Shipping Guarantee 
This guarantee aims at avoiding high demurrage charges or price fluctuations in situation when your import goods under the ICBC LC have been arrived at the destination before shipping documents. ICBC provides the guarantee for you to take delivery of goods before the original bill of lading arrives.

4. Bill of Lading Endorsement 
When the L/C you opened in ICBC stated that all shipping document are in favor of ICBC, ICBC has to endorse the originals before you can collect goods. Come to ICBC with the originals of your shipping documents for ICBC to endorse so that you can proceed to take charge of the goods.

5. Packing Loan
Packing loan is a financing facility extended to you to cover the cost of goods, material, production and shipment prior to export of the goods under the L/C you received from your overseas importer. After shipment, you submit the document to ICBC for negotiation against the L/C and return the packing loan once you receive the payment of goods from overseas.

6. Outward L/C Documentary Loan /Discount 
Outward L/C Documentary Loan: After you submit all documents against Demand or Time L/C, ICBC can provide you outward L/C documentary loan for financing before receipt of payment of goods form Issuing bank, with the full set of documents against the L/C you provided as a mortgage.

Outward L/C Discount: After you submit all the documents against Time L/C and a commitment of payment has been received from the Issuing Bank, ICBC can provide you outward L/C discounting for financing before you receive payment of goods from Issuing Bank.

7. Export Collection Documentary/Discount 
Export Collection Documentary: After you submitting all the documents against export documentary collection, ICBC grants financing facility to your company before receipt of payment of goods from the importer, using the export bills of exchange (including demand bills and time bills not accepted) as the pledge.

Export Collection Discount: After you submitting all the documents against time export documentary collection and a commitment from importer to accept the time draft, ICBC grants financing facility to your company before receipt of payment of goods from the importer.

8. Export Invoice Financing 
When you and importer agree to settle on a term of credit sale, ICBC can provide you export invoice financing if necessary, as long as you submit the commercial invoice and other documents.

9. Import Factoring 
ICBC Import Factoring is a service to increase your company credibility to your exporter when your company chooses to settle the import by credit sale or documents against acceptance. As requested, ICBC accepts the account receivables transferred from your exporter as a credit guarantee or account management service for your company.

10. Forfeiting
After you submitting all the documents against Time L/C and a commitment of payment has been received from the Issuing Bank, ICBC grant your company financing facility without recourse before receipt of payment of goods from Issuing Bank.

11. Letter of Credit
L/C is a sort of guarantee document issued by the issuing bank to the beneficiary applied by applicant to make sure that the issuing bank will perform the payment liabilities in accordance with the defined documents.

(1) As for whether the draft under the Letter of Credit is enclosed with shipping documents or not, it can be divided: Documentary letter of credit, Clean letter of credit.

(2) By different payment time, it can be divided: Sight letter of credit, Forward letter of credit,Anticipatory letter of credit.

(3) As for whether the beneficiary can assign the rights under the letter of credit or not, it can be divided: Transferable letter of credit, Non-transferable letter of credit.

(4) Varieties of other special letters of credit: Back to back letter of credit, revolving letter of credit Counter letter of credit.

12. Collection Settlement
It means that principal (creditor) submits financial bills or/and commercial bills to bank (remitting bank) for requiring the collecting bank to collect funds from the payer (debtor) through connected or agency bank (collecting bank).