Typical cases of international export factoring

Company A, the exporter, signed a US$ 6 million import and export contract with Company B, the American importer, by D/A. After the goods were shipped, Company A proposed to handle the financing non-buyout export factoring business in our bank. We contacted CIT, the largest import factor in the United States, and CIT approved the import factoring line of Company B100,000 USD, and informed our bank. After that, our bank formally signed an export factoring agreement with Company A, and Company A handed over the invoice and a full set of export documents to our bank, which sent them to CIT. At the same time, according to the demand of Company A, our bank provided financing of USD 4.5 million. After the invoice expires, Company B cannot perform the contract due to financial reasons. CIT company continued to track the company's movements and remitted 6 million dollars to our bank on the 90th day after the invoice was due. After deducting the financing principal and interest of 4.8 million yuan, the bank credited the balance to the account of Company A. ..