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Outward Remittance Advance

Product Name

Outward Remittance Advance

Introduction

Outward Remittance Advance services are provided by Bank of China Limited Macau Branch. Outward remittance advance, a short-term financing service, means that with the settlement method of payment on delivery, Bank of China makes payment for the imported goods on behalf of the importer against the valid vouchers and the commercial documents under outward remittance.

Features

1. Reduction of capital tied up

Import and resell merchandise in domestic market with bank funds to make profits without occupying working capital;

2. Grasp market opportunities

The product enables importers to take advantage of market opportunities to acquire documents of goods right, take delivery of goods and resell in the event that the importers are unable to make payment at once;

3. Improvement of the bargaining power

It can help importers enhance their bargaining ability in negotiation with exporters by converting the payable at usance to payment at sight, or reduce the duration of payable at usance;

4. Less financial costs

Customers can choose funding currency based on interest rates of different currency types in order to save financial expenses.

Target Customers

1. Importers encounter temporary difficulties in capital turnover, thus cannot make payment on time;

2. Importers get a new investment opportunity before making payment, and the anticipated yield is higher than the financing interest rate.

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