Undertaking to pay

Most of the L/C’s are issued by the bank of the importer and advised by us to the exporter. In the L/C business with China , confirmed L/C’s appear seldom. However, in order to absorb the default risk for the customer (exporter), we can offer to add our payment confirmation to the L/C. This covers the potential default of payment by the importer’s house bank.

Forfaiting

We purchase receivables without recourse from German and European exporters which channel their L/C business through our bank with China . We sign a forfaiting agreement with the customer, by which all details are specified. We pay the discounted amount to the exporter and collect the final payment from issuing bank on final maturity date. We have to receive full documentation: L/C, invoices, B/L, assignment letters etc. We also purchase such forfaiting transactions from other banks. In principle, we are able to purchase receivables out of L/C’s issued from most Chinese banks.

Advantages:

The customers saves his credit lines, no collection and monitoring work, dispense of credit insurance costs, clear cost calculation (fixed discount rate).

The forfaiting business reduces the economic risk, country risk, currency risk and the collection risk for a customer.

Contact Us | Corporate Banking Dept.

Tel | 0049 (0) 69 9714 9517 / 42 (Chinese)

Fax | 0049 (0) 69 9714 9577

Email | marketing@ccbff.de