1. Introduction：
Export Documentary Collection is a settlement mode where Bank of Kunlun, acting as the remitting bank of the customer, sends the draft and shipping documents to the importer’s bank and then delegates the importer’s bank to collect money from the importer. Export Documentary Collection businesses are processed under URC from International Chamber of Commerce.
2. Product Feature：
Can satisfy the domestic customers to collect money from foreign clients and transfer fund.
3. Target Clients：
Customers of Bank of Kunlun.
4. Business Process：
1. Customers fill in the application of Export Documentary Collection, including the method of collection, such as documents against payment, documents against acceptance, or other entrusted matters, and submit export documents.
2. The Bank will verify the entrusted matters one by one, including payer’s name, address, documents releasing conditions and types of documents, and make sure the amount and types of the documents is the same as the exporter offers.
3. Bank of Kunlun fills in the Export Documentary Collection power of attorney and chooses collecting bank. The content should be the same as the application.
4. Under the method of documents against acceptance, remitting bank will mark the acceptance due date on the record, archive the advice of acceptance and notify the client after receiving the advice of acceptance from collecting bank.
5. After the payment, the Bank will remit or process settlement of exchange. The Bank will only process settlement of exchange if the National Administration of Foreign Trade requires.
6. If the collecting bank refuses, the Bank will return the documents to the clients in time and put on the record. If the collecting bank violates the international practice or does not follow the instructions of Export Documentary Collection power of attorney, the Bank will try hard to make it according to the provision of international settlement disputes and shall promptly report to the superior.
7. If the client intends to reduce the amount, prolong the payment period or change the condition of presentation, etc., the Bank shall conduct the transaction by the written opinion and other relevant document (if required).