Import and Export Settlement

The Import Collection is a service in which ABC acting as the collecting bank, upon receiving collection documents from an overseas remitting bank, presents documents to our customers for payment or acceptance as instructed by the remitting bank. more 》

The Import Payment is the service that the importer's bank, at the request of the importer, directs the paying bank to make payment for goods. Furthermore, the importer makes the repayment plus interest to the importer's bank upon maturity, and the importer's bank then reimburses the paying bank. more 》

The Import Letter of Credit (L/C) is a settlement mode where ABC issues a L/C to the beneficiary upon receiving the customer's application, and promises to pay a specific amount to the exporter in the designated currency, after receiving the documents that comply with the L/C requirements within the specified time. more 》

The Export Letter of Credit (L/C) is a L/C settlement service provided by ABC as the exporter's bank in accordance with the documentary L/C opened by the importer's bank. Export L/C mainly provides services, such as L/C advice,cancellation, transfer, documents examination, sending documents for reimbursement, and collection of payment. more 》

The Export Documentary Collection is a settlement mode where ABC, acting as the remitting bank of the customer, sends the draft and shipping documents to the importer's bank and then delegates the importer's bank to collect money from the importer. According to how the documents are delivered, the Export Documentary Collection is divided into documents against payment (D/P) and documents against acceptance (D/A). more 》

The Bank-customs Express is a product developed by ABC for online payment of customs duties and charges based on the financial service platform. more 》

The Confirmation of L/C is a commitment made by ABC, at the request of customers (as the beneficiary) or the issuing bank, to undertake such obligations as independent payment, deferred payment, acceptance or negotiation to the beneficiary of an irrevocable L/C. more 》

The Foreign Currency Bill Collection is a settlement mode where ABC, acting as the remitting bank of the customer, collects the proceeds of foreign currency financial instruments from the foreign payer on behalf of the customer. more 》

The Financing under Export Letter of Credit means that ABC, as the designated bank of the letter of credit, offers sight payment, deferred payment, acceptance or negotiation services to the beneficiary. more 》

The Inward Remittance is a type of settlement service where a foreign correspondent bank remits money to ABC at the request of the remitter and instructs ABC to pay the remitted money to the customer (the payee). more 》

The Outward Remittance is a type of settlement service where ABC transfers a certain amount of foreign exchanges to the designated payee as instructed by the customer. more 》