Product Definition

　　Domestic Letter of Credit (hereinafter referred to as Letter of Credit) refers to the commitment by Harbin Bank to make payment against compliant documents under a domestic trade or service letter of credit issued based on the applicant's request.

　　Applicable Clients

　　1. Parties in domestic trade who are not well acquainted with each other and wish to use a letter of credit to enhance trade credibility.

　　2. Parties with insufficient working capital who require trade financing.

　　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.

　　2. Possess a loan card.

　　3. Have an account opening permit and a settlement account at Harbin Bank.

　　4. Meet other requirements specified for domestic letter of credit settlements.

　　Processing Procedure

　　1. The buyer submits a Letter of Credit Application, and Harbin Bank, after review, issues the letter of credit based on the guarantee deposit or credit limit.

　　2. Upon receiving notification of the letter of credit, the seller may request packaging loan financing services from the notifying bank.

　　3. The seller ships goods according to the letter of credit terms and submits the relevant documents. The presenting bank then sends these documents to the issuing bank for payment. Additionally, at the seller's request, the presenting bank can negotiate or advance and provide financing services.

　　4. The issuing bank makes payment to the seller upon receiving and verifying the documents, and may advance the bill for buyer upon request.