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Import Bill Advance Global Banking Trade Financing  Import Bill Advance
Import bill advance refers to the financing business in which our bank as the issuing bank provides the applicant with working capital finance to pay the payment under the letter of credit and uses the sales returned capital of the import goods under the letter of credit as the first repayment source according to the application of the applicant after receiving the document under the letter of credit and implementing full guarantee condition or within the line of credit.
Note:
The negotiating amount shall not be more than the bill amount
The negotiating period shall comply with the specific trade situation, the sight letters of credit and usance letter of credit with the payment period not exceeding 90 days (including 90 days) ,and the negotiating period does not exceed 90 days; under the usance letter of credit with the payment period of more than 90 days, the transaction of import bill advance is not allowed in principle; if the applicant has reasonable reasons and implemental repayment source, only one import bill advance is allowed, and the sum of negotiating period and letter of credit payment period shall not exceed 180 days.
The applicant of import bill advance shall complete the application procedure of import bill advance before making payment of foreign exchange.
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