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Examination of Documents and Negotiation of L/Cs


 

Bank of China (Canada) provides comprehensive L/C services, including examination of documents, mailing and courier of documents as well as payment services for exporters.

Functions

This service is primarily aimed at meeting the needs of exporters and importers for settlement and collection of payments under L/Cs.

Features

• L/Cs allow beneficiaries to lower payment risk since the risk of the issuing bank (or confirming bank) replaces the payment risk of the importer while also protecting the importer from performance risk of the exporter given the strict conditions attached to payment under L/Cs.

• Documentary control is in the hands of the exporters while an irrevocable payment obligation rests on the issuing bank as long as the clearly stipulated conditions of the L/C are met.

• Banking fees related to the issuance of the L/C may be borne by importers – a significant advantage for exporters.

Who can benefit from this product?

• Exporters who are not familiar or comfortable with the credit profile of importers may require additional payment commitments from the banks of the importers.

• Some exporters may be able to apply for pre-shipment finance on the strength of the L/C.

Our Advantages

• We have teams of highly experienced and qualified documentary handling teams in several locations around the world and in many locations throughout China.

• We are well versed in handling disputes, rejections of goods and refusal to make payment. Given our strong base in China and our international reach, Bank of China (Canada) is a trusted partner to clients to protect their interests and resolve trade and payment issues.

• With a global network of branches and correspondent banks, advanced technical systems and expeditious collection and appraisal processes, we provide clients with timely collection of export payments.

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