A written document issued to the beneficiary (exporter/seller) at the request and instruction of the applicant (importer/buyer)

A stated amount within a prescribed time

The issuing bank guarantees to pay the amount under the letter of credit after receiving documents submitted by the beneficiary that comply with the provisions of the letter of credit.

Under the cross-border trade transaction, the domestic importer applies to OCBC China for a short-term trade financing under L/C.

OCBC China Bank’s domestic branch in China entrusts overseas banks with short-term financing to pay the import letter of credit on behalf of the importer.

The importer transfers the import rights to OCBC Bank China

OCBC China pay to the exporter of letter of credit in advance based on valid commercial documents

OCBC China accepts entrustment from foreign issuance bank

Notify the beneficiary of the letter of credit (domestic exporter) in a timely and complete manner of the letter of credit issued by the issuing bank according to the request of the applicant (foreign importer) and the modification information

After receipt of the letter of credit, the exporter/seller should ship the goods within the prescribed time

Submit the commercial documents under the L/C to OCBC China

After review, OCBC China will send the documents to the issuing bank to present the documents to the importer and collect payment

After shipping the goods and submitting the documents stipulated in the letter of credit by the exporter

At the request of the exporter, OCBC China buy unexpired forward bills that had been accepted by issuing bank

Provide short-term financing facilities to exporters