Refinancing

Product descriptions

This product is a short-term financing activity for the customers of Fudian Bank. According to the agreement signed between Fudian Bank and the overseas correspondent bank, the overseas correspondent bank shall advance the payment under the import L/C, import collection business, or import invoice of the customers of Fudian Bank on the due date.

Product features

Applicable to meet the needs customers of Fudian Bank for low-cost overseas funds.

Applicable interest rate

The financing interest rate paid by the refinancing shall be implemented in accordance with the interest rate quotations of overseas institutions in conjunction with the Bank's regulation on trade financing interest rates.

Applicable customers

The exporter wants to obtain immediate payment, but the importer and the importer’s bank want documents against payment after sight and obtain financing.

The domestic capital cost is higher than the capital cost at the location of the exporter.

Applicable conditions

The Bank has credit lines for financial institutions in overseas correspondent banks.

Handling process

1. The overseas correspondent bank signs the "Refinancing Agreement" with Fudian Bank;

2. Fudian Bank applies to the overseas correspondent bank in advance in accordance with the agreement, and sends a copy of the L/C or a copy of the collection letter to the overseas correspondent bank;

3. When Fudian Bank receives the matching documents under the L/C or the importer's commitment to payment/acceptance draft for the collection of funds, and agrees to handle the import bill financing for the importer, it will issue a telegram to the overseas correspondent bank to clarify the payment responsibility, and notify the payment date, payment deadline and other matters;

4. The overseas correspondent bank pays externally according to the instructions of Fudian Bank;

5. When the financing expires, Fudian Bank will repay the principal and interest to the overseas correspondent bank in accordance with the provisions of the payment agreement.

6. On the maturity date, the customer shall repay the financing principal and interest to Fudian Bank.