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Packing Loan Global Banking Trade Financing  Packing loan
Packing loan refers to the business in which our bank, according to the application of the letter of credit beneficiary and after implementing full guarantee condition or within the line of credit, takes letter of credit as control means, takes the export remittance or export bill purchase under the letter of credit as the first repayment source, provides working capital finance for organizing the financing of goods export. During the packing loan period, the beneficiary shall leave the original letter of credit in our bank, after the goods export, the export document shall be transacted by our bank.
 
(1) Acceptance principle:
1. The applicant of packing loan shall be the beneficiary of the letter of credit;
2. When the financing demand can be met by both packing loan and general working capital loan, the packing loan shall be given priority;
3. Packing loan shall be only used for the capital demand on purchase, production or turnover of export commodity under the letter of credit;
4. If the letter of credit allows partial shipping, except that the applicant requires one-off purchase, partial use, partial production, partial shipping, the loan shall be issued by batches according to the plan of partial shipping of the applicant, so as to monitor the use and repayment of the loan.
(2) The applicant shall submit the following data:
1. Packing Loan Application in the format prescribed by our bank
2. Original letter of credit and all modifications;
3. Export business contract, domestic purchase contract (or production plan), shipping arrangement;
4. Other data required by our bank.
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