Product Definition

　　Import Bill Advance under LC (referred to as Import Bill Advance) refers to a service where Harbin Bank, acting as the issuing bank, provides financing to the applicant based on their request after receiving the documents under the letter of credit, within the customer's credit limit and with sufficient collateral, to cover payments under the letter of credit, with the sales proceeds from the imported goods serving as the primary repayment source for this financing.

　　Product Functions

　　Used to meet the short-term financial needs of importers under import letters of credit.

　　Product Features

　　1. Reduces fund occupation. Utilizes bank funds for commodity imports and domestic sales, thus completing trade transactions and generating profits without tying up any of its own capital.

　　2. Seizes market opportunities. Assists importers in obtaining ownership documents, collecting goods, and reselling them when immediate payment cannot be made, thereby enabling them to seize market opportunities.

　　3. Improves bargaining power. Helps importers enhance their bargaining power with foreign exporters by shortening the payment terms from forward to immediate or shortening the forward payment term.

　　4. Saves financial costs. Allows selection of financing currency based on different interest rates to save financial costs.

　　Applicable Clients

　　Importers facing temporary cash flow difficulties and unable to pay for the documents on time.

　　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 import/export operating qualifications and an account-opening permit and having a settlement account opened at Harbin Bank

　　2. Import Bill Advance Application, Trust Receipt, and any other materials required by Harbin Bank.

　　Processing Procedure

　　1. Harbin Bank should determine the credit limit for the importer based on the application.

　　2. The importer submits an import bill advance application to Harbin Bank.

　　3. Harbin Bank advances the import bill payment on behalf of the importer and delivers the documents to the importer.

　　4. The importer makes payment to Harbin Bank upon due date to repay the advance on the bill.