Product Definition  

　　Letter of credit confirmation refers to Harbin Bank independently assuming the primary payment responsibility for the beneficiary in addition to the issuing bank. Harbin Bank bears the issuing bank's credit risk on behalf of the exporter, allowing the exporter to receive early payment under compliant document submission.  

　　Product Features  

　　1. Reduce risk and accelerate capital turnover. Letter of credit confirmation helps exporters mitigate not only the risk associated with the issuing bank but also the country risk and foreign exchange control risk of the issuing bank's country. 

　　2. Dual guarantee. In addition to receiving a conditional payment commitment from the issuing bank, the exporter secures an additional conditional payment commitment from Harbin Bank, offering the exporter dual payment guarantees. 

　　3. Payment guarantee. Upon the submission of documents that adhere to the stipulations outlined in the letter of credit, Harbin Bank, contingent upon approval, may extend either a non-recourse payment or a payment commitment.

　　Applicable Clients  

　　1. Exporters who wish to obtain payment confirmation from a bank other than the issuing bank.  

　　2. Exporters, even when the issuing bank enjoys a strong credit rating, may nonetheless prefer to receive non-recourse funds subsequent to the submission of documents. 

　　Application Conditions  

　　1. Enterprises that are legally approved and registered with a valid business license, having undergone annual inspections or possessing other valid documentation that verifies their legal operations and defined scope of business activities; possessing an account-opening permit and having a settlement account opened at Harbin Bank; and listed in the company registry.  

　　2. Enterprises with a genuine, legal, and compliant trade background. 

　　3. Enterprises without negative credit records at Harbin Bank and/or other financial institutions.  

　　4. The issuing bank is a financial institution with approved credit from Harbin Bank's head office and has good credit status.  

　　5. Other conditions required by Harbin Bank.  

　　Processing Procedure

　　1. Harbin Bank applies for confirmation for the export letter of credit on behalf of the issuing bank.  

　　2. You submit the export documents to Harbin Bank, and Harbin Bank reviews the documents. If the documents are correct, Harbin Bank will issue an irrevocable payment commitment.  

　　3. Harbin Bank sends the documents to the issuing bank for collection and uses the foreign payment to cover the confirmed payment amount made by Harbin Bank.