Commercial Draft

 

“Free Discount Services” of Acceptance Bill

 

“Free Discount Services” of acceptance bill offered by the bank, i.e. clients (applicants of discount services) can use the general credit limit for discount services if the acceptance banks of the acceptance bills held by the clients are not the entrusted financial institutions served by our bank or the credit limit has exceeded the credit limit allowed for discount services of the acceptance banks.

Target Clients: Discount applicants with credit rating of above AA in the appraisal by our bank.

Business Process: The discount applicants will sign a co-operation agreement with our bank; for other relevant information and work flow please refer to commercial acceptance bill of discount.

Discount Services of Commercial Bill Exempt from the Right of Recourse

Discount services of commercial acceptance bill exempt from the right of recourse, i.e. our bank abstain from exercising the right of recourse in extending discount services to specified clients when the acceptor refuses to pay out of reasons other than the discount applicant.

Target Clients: Discount applicants with credit rating of above AA in the appraisal by our bank.

Business Process: The acceptor of the commercial acceptance bill held by the applicant meets the requirements of our bank; signing of relevant agreement; for other relevant information and work flow please refer to commercial acceptance bill of discount.

 

Authorization of Discount Agent for Commercial Bill

To authorize a discount agent for commercial acceptance bill, means the discount applicant ( the client) entrusts its preceding (agent) to process discount services with our bank.

Target Clients: Corporate enterprises or other economic institutions, whose registrations have been approved by relevant industrial and commercial management authorities.

Business Process: Commercial acceptance bill applying for discount is accepted by branches of our bank being directly accepted by preceding agent or the agent should meet the credit rating of our bank; 3-party co-operation agreement counter signed by the client, the agent and our bank; the agent signs on the commercial bill of exchange and “application letter for discount services; other relevant information and work process please refer to the discount services of commercial bill of exchange.

Interest for the Discount of Commercial Bill of Exchange Paid by Buyer Side

The buyer will pay interest for the discount of commercial bill of exchange, means as agreed between the client (seller) and the buyer, the client will apply for discount by our bank in regard to the commercial bill of exchange submitted by the buyer who will also pay the interest incurred.

Targert Clients: Corporate enterprises or other economic institutions, whose registrations have been approved by relevant industrial and commercial management authorities.

Business Process: The seller, the buyer and our bank will counter sign the co-operation agreement; other relevant information and work process please refer to the discount services of commercial bill of exchange.

 

Agree to Pay Interest on the Discount of Commercial Bill of Exchange

Agreeing to pay interest on the discount of commercial bill of exchange, means as agreed between the applicant (seller) and the buyer, the buyer and the seller will pay their respective interests on ratio and our bank will receive respective interests as agreed by the buyer and the seller when the applicant applies to our bank for discount services of the commercial bill of exchange as submitted by the buyer and held by the applicant.

Business Process: Interest payment by the buyer.

 

 

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