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Financing under Export Letter of Credit

Overview
The Financing under Export Letter of Credit means that ABC, as the designated bank of the letter of credit, offers sight payment, deferred payment, acceptance or negotiation services to the beneficiary.

Benefits
1. It will not take, and thus preserve, the customer's existing line of credit, therefore improving the financing capacity of the customer.
2. The customer will obtain payment in advance and have access to faster funds turnover.

Procedures
1. The customer completes the Application for Financing under Export Letter of Credit to ABC.
2. After the application is approved by ABC, the customer and ABC sign the Contract for Financing under Export Letter of Credit.

Tips
1. The export letter of credit shall have a payment term of no more than 180 days. It shall not be a transferred L/C, or contain any term adverse to ABC.
2. ABC must be the designated bank of the L/C for making sight payment, deferred payment, acceptance, or negotiation. Further the issuing bank must be located in a country or region with stable political and economic climate, is a correspondent bank of ABC, and has good credit standing.

Note: Please contact your local branch for detailed information about the service.

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