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 You Are Here: Home >Products & Services >Trade Finance >L/C

Letter of Credit

 

1. Import Letter of Credit

Brief introduction
Your company can choose ICBC (USA) for the import L/C business when you agree on settling the trade payment by L/C with exporters. The L/C will be issued to exporters based on your company's application. Upon receipt of the full set of documents from the exporter's bank and after having verified their consistency with the L/C, ICBC (USA) shall make prompt acceptance or payment to exporters or designees by exporters.

Characteristic Advantages
All domestic and foreign branches of ICBC have achieved an integrated management of international settlement business. ICBC (USA) will make concerted efforts to conduct business cooperation with other domestic and foreign branches. Therefore, your business will be handled in a more standardized, efficient and accurate way if your counterparties are also clients of ICBC's, thus your business handling costs can be minimized.

Target clients
1. Importers who have chosen L/C as their settlement method, especially suitable when counterparties are also clients of ICBC’s;
2. Importers with trade financing needs such as import trust receipt financing.

2.Export Letter of credit

Brief Introduction
Upon receipt of the L/C from the Issuing Bank, ICBC (USA) checks the L/C and advises it to the exporter. After the exporter have shipped the goods and presented the documents at our counter, ICBC (USA) examines the documents and sends them to the Issuing Bank and claims the payment.

Characteristic Advantages
All domestic and foreign branches of ICBC have achieved an integrated management of international settlement business. ICBC (USA) will make concerted efforts to conduct business cooperation with other domestic and foreign branches. Therefore, your business will be handled in a more standardized, efficient and accurate way if your counterparties are also clients of ICBC's, thus business handling costs can be minimized. ICBC (USA) will appoint experienced international trade experts to provide you with professional guidance of banking services, such as bill advisory and document pre-examination, and lay a solid foundation for your smooth receipt of payment for goods after they have been shipped out.

Target clients
Exporters not having a long term relationship with the counterparties, thus needing the commitment of a Bank in a business transaction. In order to enable your company to enjoy ICBC's convenient and fast export L/C business, we recommend your company to request importers and issuing banks to designate ICBC (USA) as the advising bank of L/C.

Please contact us for more information:

Northern California Region
Tel:(415) 352-6910

Southern California Region
Tel:(626) 656-8892

New York Region
Tel:(646) 381-6670


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