Export credit insurance factoring financing
Product definition:
For the export trade insured by the export enterprises in China Export Credit Insurance Corporation, after the export enterprises transfer the creditor's rights of accounts receivable under the trade contract to our bank, our bank will provide financing services to the export enterprises according to a certain proportion of qualified accounts receivable within the scope of compensation covered by the Sino-Singapore policy.
Product features:
(1) Before the importer pays the payment, the export enterprise can get the payment in advance, which speeds up the capital turnover.
(2) Export enterprises directly convert the unexpired accounts receivable into cash sales revenue to beautify the financial statements.
(3) Export enterprises may enjoy preferential insurance premiums provided by the state finance to encourage the export of China products.
Applicable object:
Export enterprises adopt O/A (credit sale) and D/A (D/A) settlement methods, and need to apply for insurance with China Export Credit Insurance Corporation.
Business process:
1. Export enterprises are insured by China Export Credit Insurance Corporation.
2. Exporters deliver goods to importers.
3. Customers apply for financing and submit relevant materials.
Our bank provides financing for customers.