Business background
A customer exports a piece of equipment to India, the payment terms must be 30%T/T,70% fake usance letter of credit, the contract is confirmed, the customer to the fake usance letter of credit用The operation process of the certificate is not very familiar, worried about risks, please our company as its foreign trade agent to deal with export receipts and foreign exchange信用证Check presentation。
A customer exports a piece of equipment to India, the payment terms must be 30%T/T,70% fake usance letter of credit, the contract is confirmed, the customer to the fake usance letter of credit用The operation process of the certificate is not very familiar, worried about risks, please our company as its foreign trade agent to deal with export receipts and foreign exchange信用证Check presentation。
Fake usance letter of credit export case
I. Brief process:
Many customers may encounter sight letters of credit in foreign trade business, and there are not many fake usance letters of credit, but in fact, due to the need for funds, the beneficiary often wants to get the payment at sight, while the applicant wants to pay at a later date。At this time, neither sight letter of credit nor usance letter of credit can meet the requirements of both parties。Thus, a false usance letter of credit is produced。A fake usance letter of credit, also known as "buyer's usance letter of credit", refers to a letter of credit in which the buyer and seller sign a contract and the importer bears the discount interest and handling fee, and the exporter (beneficiary) can receive the full payment at sight。This is a sensitive method of trade financing. Although the letter of credit is usance, the paying bank pays at sight and the discount charge is borne by the importer。Its essence is that the issuing bank or the paying bank provides the importer with the facility of financing funds, the rules of the usance draft at sight payment, while indicating that the discount cost and other costs are borne by the issuing applicant, the beneficiary can receive the foreign exchange at sight。
After letting customers fully understand the characteristics and micro-risks of fake usance letter of credit, our company began to make preparations for the export of goods, arranging booking space, preparing customs declaration materials, and carefully confirming the requirements and timeliness of documents presented in the letter of credit。In this service，The latest shipment time is 1-31，Approaching the Spring Festival，A lot of shipping companies are leaving late，To ensure that the bill of lading date is not later than 1-31，We explained the situation to the shipping company and applied for a backdated bill of lading，In the end, the ship does not sail until 2-8，But we backdated the bill of lading early so it wasn't affected。After getting the original bill of lading, we will submit the other documents requested by L/C to the bank, and the bank will arrange international express delivery to the foreign bank after the same day's review and error, and soon the foreign bank will lend money。
Ii. Summary:
Ii. Summary:
Although fake usance letter of credit is not common in the practice of import and export business, we have a professional and experienced operation team, which can prevent risks as much as possible for customers, and help customers to minimize costs and maximize benefits。
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