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Online domestic LCs
 
About the product
Based on two-party trade contracts, CMB issues online domestic L/Cs to a buyer based on an application approved by the opening bank through the Online Corporate Banking system. CMB notifies the beneficiary that it has issued an L/C to the buyer, and then the buyer is obligated to make payments to the beneficiary based on the approved L/C documentation.  

Advantages
1. Provides electronic logistics, purchasing and payment services with high payment credibility;  2. Realizes fully electronic application and issuance processes to facilitate physical settlement and document management, helping suppliers promptly recover sales receivables. 
3. Applies to upstream and downstream suppliers, which optimizes the corporate trade process and improves supply chain management efficiency;
4. Provides electronic B2B payment tools and guarantees payment settlement based on CMB's credibility; 
5. Increases finance convenience for both parties; for example, by providing buyers with a partial security deposit; issuing L/Cs and financing (with credit limits and D/P) after sight; and providing beneficiaries with irrevocable L/C loans, payment negotiations on credit limits, commercial draft acceptance, and the issuance of back-to-back L/Cs.
Note:
All the contents stated above are for your reference only. Please consult the local branch of China Merchants Bank for further information. China Merchants Bank reserves the ultimate right of interpretation for the contents in this page.