A. Export Letter of Credit Advising/Negotiation
With ICBC’s wide international network , ICBC Seoul branch provides a prompt advising of credits and amendments to exporters. Corporate customers (exporters) are able to collect the payments of goods in advance from the purchase of drafts and/or documents under a complying presentation. Taking advantage of ICBC’s standard service ensures that documents are negotiated in a timely manner and dispatched in compliance with the L/C terms and conditions to prevent refusal of payment.
B. Import Letter of Credit Issuance
Letter of credits issued by ICBC will be widely preferred and qualified as exporters and their banks are rest assured of payment upon receipt of complying presentation. The issuance and confirmation charge(if any) will be measured by customer’s credit rating.
C. Shipping and Airway Guarantee
Our customers of issuing letter of credit are able to benefit from applying a shiping guarantee which allows you to collect goods without the transport documents and avoid paying unnecessary demurrage charges and high fluctuation of goods in the market price.
Upon receipt of acceptance by the issuing bank or confirming bank, ICBC provides the purchase of trade-related receivables without recourse discounting.
E. Import T/T Financing
If the payment term on a supplier’s goods is cash on delivery, ICBC Seoul Branch provides import T/T financing and fast remittance services on the settlement date for the payment to address your cash turnover.
F. Invoice Financing (O/A)
To initiate financing in advance, ICBC Seoul branch purchases receivables with upon presentation of invoices and evidence of shipping.
G. Import Factoring
ICBC Seoul branch provides credit guarantee and other account management services to importers operating on non-L/C terms such as credit sale or documents against acceptance, without the need for issuing a letter of credit.
H. Other Trade Finance Products & Services
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