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Per Aval under Import

Overview
The Per Aval under Import is a form of guarantee made by ABC on the credit standing and solvency of the importer; this happens when the exporter is in doubt of the creditability of the importer for international trade to be settled by D/A or T/T. In this case, ABC endorses the words "PER AVAL" and its name onto the accepted draft, which represents an irrevocable obligation of the bank as a guarantor.

Features
The importer's accepted commercial creditability becomes the creditability guaranteed by the bank, and therefore the risk in collection of foreign exchanges on the part of the exporter under D/A or T/T is minimized.

Procedures
1. The customer submits the Application for Per Aval under Import to ABC with the import contract, relevant documents under the import contract, the import approval and permit for special goods subject to state control. The documents under D/A include the invoice and shipping documents while the documents under T/T include the commercial draft accepted by the importer and the full set of import documents.
2. ABC reviews the application and signs the Contract for Per Aval under Import with the customer.
3. ABC endorses "PER AVAL" directly, or through SWIFT message onto the accepted draft.
4. Upon the maturity of the per aval draft, the customer then makes a payment through ABC.

Tips
1. Per Aval is not available for advance payment.
2. The importer must be a manufacturer or trader registered with relevant administration for industry and commerce (or competent authority) in the territory of China and has the authority to import and export.
3. Upon the maturity of the per aval draft under T/T, the customer should make a payment to the discount bank through ABC.

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

Customer Service Center : 95599

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