L/C Issuance
CMB issues a written undertaking, by which CMB is to make payment once the documents presented comply with the terms and conditions stipulated in the Letter of Credit (L/C).
Benefits
Creditworthiness enhanced: Your, an importer’s credibility is endorsed by CMB’s conditional payment undertaking, which helps you conclude a large size transaction with an exporter, the beneficiary.
Delivery guaranteed: As the terms and conditions of the L/C are surely met, your rights to the goods, shipment date and quality of goods are more effectively controlled.
Efficient service: With nearly 2,000 correspondents globally CMB chooses the quickest route so that an L/C can be at the beneficiary’s hand promptly.
Widely accepted: L/C issued by CMB is widely accepted in the international financial market.
Greater variety: CMB may issue an L/C catering to your needs, including transferrable L/C, reciprocal L/C, back-to-back L/C, sight payment L/C, deferred payment L/C, and red clause L/C, etc.
Advising L/C and Amendment
CMB performs verification and notification of a Letter of Credit (L/C) or its modification(s) to you, an exporter and the beneficiary of L/C.
Benefits
Extensive network: CMB’s correspondent network partnering with about 2,000 banks ensures you prompt receipt of an authenticated L/C and/or its amendment. CMB’s efficient L/C advising system greatly speeds up the process.
Added-value services: CMB’s expertise in L/C practice and rules can provide you with consultation on the terms and conditions of an L/C and/or its amendment so as to safeguard your exporter’s interests and rights.
Export L/C Negotiation
CMB’s services for you, a beneficiary under export Letter of Credit (L/C) include document examination, mailing and tracing and collection of payment.
Benefits
Lower risk: Your trading partner’s credit risk is replaced by that of the L/C issuing bank.
Added-value services: CMB’s examination of document ensures compliance of L/C terms and conditions, professional tracing and discrepancy-handling speeds up L/C issuing bank’s payment. In addition, forfaiting is also available if the L/C is usance and has been accepted by the issuing bank.
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.