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Export Documents Pledged Loan

Overview

The Export Documents Pledged Loan is granted by ABC for short-term working capital use, upon the request of customers and with their pledge of commercial documents and shipping documents (the full set of documents providing evidence of the title to property must be included), provided that the settlement for export is through remittance.

Functions

1. Customers can receive money before importers make payments and have access to faster fund turnover.

2. Procedures are much simpler compared to working capital loans.

3. It can increase customers' cash inflow in the current period and improve their financial condition and financing capacity.

Procedure

1. The customer applies to ABC for loans on pledge of export documents by submitting the Application Letter for Export Documents Pledged Loan, the full set of original export documents, the export contract, the customs declaration for export, and other required documents.

2. ABC concludes the Contract on Export Documents Pledged Loans and the Pledge Contract with the customer before granting the loan.

3. Customers receive the payment from the importer to repay the loans before ABC mails the documents to the importer.

Tips

1. Export documents pledged loans apply to seaway transport by which the importer will receive the bills of lading after having made a payment.

2. Customers must submit the full set of original export documents (including the full set of insurance policies and full set of documents evidencing the title to property) when applying for export documents pledged loans.

Note: Please contact your local branch for detailed information about the service.

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