Letter of Credit

Introduction

Advising of Export L/C

Refers to the service that PSBC notifies the beneficiary according to the instruction of the L/C.

Issuing of Import L/C

Refers to a written payment undertaking, issued by PSBC upon the application of domestic importer who designates the exporter as the beneficiary, by which PSBC is to make payment once the vouchers presented comply with the terms and conditions stipulated in the L/C. 

Features

Credit enhancement, guarantee for title to goods 

Convenient trading, safe and reliable 

Consignment Collection 

Introduction

Documentary Collection under Export

Refers to the business that PSBC, upon the entrustment of the consigner (the exporter), entrusts the overseas agent bank to prompt and ask the payer (the importer) to make payment according to the financial bills or the commercial invoices, or both the financial bills and the commercial invoices.   

Import Collection

Refers to the business that PSBC, upon the entrustment of the overseas agent bank, charges the import payment from the payer (the importer) as instructed by the agent bank, and then delivers the corresponding commercial bills to the payer (the importer).FeaturesLow fees and reduce the costs  

Simple formalities and easy to operate 

Remittance 

Introduction

Outward remittance

Refers to the business that PSBC, according to the instruction of the remitter, entrusts the overseas agent bank to pay a certain amount to the designated remittee. 

Inward remittance

Refers to the business that PSBC pays the fund to the designated remittee according to the instruction of the overseas remitting bank. 

FeaturesSimple formalities and low fees 

Quick settlement and helpful for fund turnover 

Receipt of USA dollar Remittance in Full Amount 

Introduction

Receipt of USA dollar remittance in full amount refers to the business that PSBC transfers the principal of remittance to the remittee in full amount, and locks in the handling fee from the customer.  

Features

Locking in the remittance fee, fixing the cost expenditure 

Receipt of the designated amount to avoid the trade dispute 

Renminbi Settlement of Cross-border Trade

Introduction

Renminbi settlement of cross-border trade refers to the RMB settlement of cross-border trade and relevant products and services provided by PSBC to the customer under various settlement businesses. 

Features

avoiding exchange rate risk, locking in the financial cost 

Multiple currencies for settlement, flexible and easy to choose 

Remittance in Minor Currency

Features

Cutting down the exchange cost, improving the settlement efficiency and reducing the account management cost 

Introduction

Remittance in minor currency refers to the remittance transaction of non-convertible currency under the international settlement business provided by PSBC for corporate foreign exchange customers.