1 Product Content:
Payment by overseas institution is an export-import financing service to enterprises.
2 Business Types:
1. Import refinance: Import refinance: CMB designates the other bank to pay the import payment to the exporter applied by importer for import trade financing (including inward bill, import collection bill and import remittance financing under L/C) and undertakes to make repayment to such payment banks in accordance with agreed interests and schedules.
2. Export refinance: CMB designates the other bank to pay the export payment to the importer applied by exporter for exporter trade financing (including outward bill, export collection bill and export T/T financing under L/C) and undertakes to make repayment to such payment banks in accordance with agreed interests and schedules.
3 Business Advantages:
1. Reducing capital demand: Minimizing the required working capital commitment, and boosting efficiency in capital use;
2. Lowering financing costs: Using funds from international monetary market to lower enterprises’ financing costs;
3. Expanding financing channels: Overcoming the bottleneck in foreign exchange supply within the border, and creating great business opportunities for enterprises.
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.