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Import Bill Advance

Import bill advance is a kind of short-term finance offered by Bank of China Sydney Branch to the importer according to his demand upon receiving the bills under the letter of credit and the import collection items.

It is classified into import L/C bill advance and import collection bill advance according to the settlement method; foreign currency import bill advance and RMB import bill advance based on negotiation currency types; self-owned funds advance payment and overseas affiliated bank advance payment ( Import Bill Advance by overseas institution) according to the advance payment source.

FEATURES

•Reduction of capital tied up. Import and resell merchandise with bank funds and make profits without occupying working capital.

•Grasp market opportunities. The product can assist importers in obtaining document of title to goods, picking up goods and reselling in the case that payment for goods could not be made immediately.

•Enhancement of bargaining ability. It can help importers in enhancing their bargaining ability when dealing with exporters by converting the payment at usance into payment at sight, or shortening the duration of forward payment.

•Less financial expense. Customer can choose funding currency type on the basis of interest rates of different currencies in order to save financial expense.