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Customer service hotline: 400-888-0577
Query tool Tax rebate inquiry Customs code query Exchange rate inquiry FedEx query DHL inquiry
│
Official wechat
Import L/C is a payment promise issued by a bank to a foreign exporter at the request of a domestic importer, promising to fulfill the payment obligation to the exporter when the terms stipulated in the L/C are met。
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Opening a letter of credit is equivalent to providing the exporter with a conditional payment promise other than commercial credit, which enhances your credit and enables you to obtain a more reasonable price for the goods.
Change commercial credit to bank credit, bank intervention can make the trade itself more guaranteed, through documents and terms, effectively control the rights of goods, shipment date and quality of goods;
For importers who use credit to issue credit, the occupation of their own funds can be reduced from the issuance of credit to the payment。
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When applying to the bank for a L/C, it is necessary to submit the L/C application, trade contract, foreign trade import approval document and relevant documents stipulated by the foreign administrative department。
When handling business for the first time, it is also necessary to provide approval for import and export business, industrial and commercial business license, etc., and go through the procedures for opening a deposit account。
By opening an import L/C, you will provide the exporter with additional assurance of payment at the expense of higher bank charges. Therefore, it is recommended that you ask the exporter for price concessions or other facilities at the time of signing the contract。
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