It means that the exporter transfers the current or future accounts receivable generated under the goods sales, services or engineering contract signed with the importer (debtor) to the Bank of China, and then the Bank of China transfers it to the foreign import factor (hereinafter referred to as IF, excluding the overseas institutions of China Bank which are not FCI members). Bank of China exporters provide trade financing, sales ledger management, and import factors provide accounts receivable collection, credit risk control, bad debt guarantee and other services.
The above contents are for your reference. Please refer to the actual business regulations.
If you have any questions, please contact online customer service of Bank of China.
You are cordially invited to download and use China Bank Mobile Banking APP or China Bank Cross-border GO APP to handle related business.