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Two-Factor Import Factoring

Two-Factor Import Factoring means that, as applied by a foreign Export Factor (excluding Bank of China’s overseas branches or subsidiaries who are not FCI members), Bank of China Sydney Branch (the Import Factor) approves credit limit for a specific buyer, thus providing such services as collection of accounts receivable, business information survey for the seller.

FEATURES

•Bank of China Sydney Branch will assume the credit risks of the buyer, which makes it easier for the seller to accept O/A terms. The buyer can fully enjoy the benefits of sales on credit terms and buy more goods with limited capital, thus accelerating flow of capital and increasing sales revenue.

•The factoring cost is generally borne by the seller, and the buyer obviates the tedious procedures of opening L/C and preparing documents with streamlined purchasing procedures.

•Prevention of the seller’s default risk. The buyer makes payment after goods inspection to effectively avoid the risks of the seller’s fraud and default.