About the product
Entrusted by the exporter, the Bank collects money from the importer through the collecting bank with the export commercial documents and financial bills submitted by the exporter.
Product features
According to the D/P method, it can be divided into D/P and D/A.
Low cost. Lower bank fees help enterprises to save financial expenses and control costs.
Simple and easy. Compared with L/C, its procedure is simple and easy to operate.
Less risk. Only after the importer accepts or pays can he obtain the documents to pick up the goods. Compared with credit sales, the exporter takes less risk.
Application
Exporters who know the importer's credit status. When in the seller's market, the exporter should choose D/P mode; when it is in the buyer's market and the importer asks for financing convenience, the exporter can choose D/A mode.
Rate
1‰ of the collection amount, minimum 200 yuan, maximum 2000 yuan, and plus the post and telecommunications fees that are calculated separately.
Handling process
After shipping the goods, the exporter submits the relevant documents to the Bank for collection.
The Bank sends the collection documents to the collecting bank for remittance.
After receiving the documents, the collecting bank presents them to the importer, and according to the instructions, the importer pays or accepts the documents before presenting them.
The importer pays the Bank through the collecting bank when it is due, and the Bank pays the exporter.
