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Pre-shipment Finance (Packing Loans)


 

Pre-shipment finance, or Packing Loans, refers to Bank of China (Canada) extending loans at the request of the beneficiary of an L/C (exporter) specifically to finance its purchase of raw materials as well as the production and shipment of the final product.

Application

• Some exporters require short-term finance to prepare or produce goods for shipment under the terms of an L/C.

• The source of repayment for such a loan comes from the foreign exchange earnings from export of the product with conditional credit guarantees from the issuing bank of the L/C.

• This is a tailored financing solution available to clients who have a significant export track record.

Features

• This type of financing may assist exporters in expanding trade to new markets and ease capital constraints while also minimizing the need for advance payment from importers.

• Exporters are able to free up working capital that would have been tied up in the production and shipment of goods.

Who can benefit from this product?

This innovative financing solution is particularly suited to exporters who need working capital and who are able to secure an L/C from the buyers of their products.

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