Product Definition  

　　Forfaiting service refers to Harbin Bank's purchase or sale of receivables or accounts receivable arising from genuine international (domestic special economic zones are treated as foreign) goods trade without recourse, where the receivables or accounts receivable have been accepted/payable/guaranteed by a financial institution, with the financial institution providing a definite payment commitment, definite amount, definite payment due date, and definite payee.

　　Product Functions  

　　1. Upon the commitment of payment at maturity by the issuing bank, confirming bank, or other designated bank of a usance letter of credit, Harbin Bank can provide you with non-recourse financing.  

　　2. The currency used for discounting must be the same as that specified in the letter of credit. The interest rate is determined by the risk level of the paying bank and its location, with lower risk associated with a lower interest rate.

　　3. Upon completion of the forfaiting transaction, the entire process can be finalized through the advance processing of the foreign exchange settlement.

　　Processing Procedure

　　1. You are required to execute the Forfaiting Service Agreement with Harbin Bank.

　　2. For processing a single forfaiting transaction, the following documents must be provided: the Forfaiting Service Application Form, the Transfer Document, the original letter of credit along with any amendments, and the bank's acceptance of the deferred bill under the letter of credit. In cases involving deferred payment letters of credit, the bank must have committed to making the payment. For spot letters of credit, the forfaiting service must satisfy the conditions for export bill advances.