Import Trade Settlement

• includes Import Letter of Credit and Inward Collection

Import Letter of Credit
Letter of credit (L/C) is an undertaking of a bank for account of the importer to pay the foreign exporter the value of the goods provided that the required documents are submitted and the terms of the credit are complied with.

        Business scope：
Issuing different types of L/Cs such as: Sight Payment Credits, Deferred Payment Credits, Acceptance Credits, Negotiation Credits, Transferable Credits, Confirmed Credits, Revolving Credits, Reciprocal Credits and Back-to-Back Credits. 2. Provide such transactions as issue L/C, amend L/C, receive and examine documents, make payment, acceptance or dishonor, assist the importer in investigating the exporter’s credit status, preparation of goods and liner inquiry.

        Inward Collection
Upon reception of entrustment from the foreign correspondent bank, in accordance with instructions received, the bank collect payment from the importer and deliver the relevant commercial documents to the importer.
There are two types of inward collection. Under D/P terms, import documents are released to the importer upon payment. Under D/A terms, documents are released to the importer against acceptance.