Delivery guarantee

Product descriptions

The importer shall issue a written guarantee to the carrier or its agent for picking up the goods, if the imported goods arrive before the shipping documents, and this written guarantee shall be endorsed by the bank and the bank shall bear the joint liability. The delivery guarantee is mostly used under L/C, and the L/C requires the submission of a full set of cargo rights documents.

Product functions

It helps the importer to pick up the goods in time to avoid all kinds of consequences caused by demurrage.

Product features

1. Reduce capital occupation. By using bank credit to pick up and sell the goods in advance, this can speed up the withdrawal of funds, and reduce the capital occupation.

2. Seize the market opportunity. It helps the importer obtain the bill of landing and resell the goods in time when the goods arrive earlier the the documents, so as to take advantage of the favorable market conditions to seize the market opportunities.

3. Save financial costs. It helps the importer pick up the goods in time and avoid demurrage charge.

Applicable customers

It is suitable for situations where the sea voyage is short and the goods arrive earlier than the documents.

Application conditions

1. The applicant has been approved and registered in accordance with the law, and has an annually legal person business license or other valid documents which can prove its business legitimacy and business scope;

2. The applicant has a loan card;

3. The applicant has an account opening license, and has opened a settlement account with the Bank;

4. The applicant has the import-export operation right;

5. The customer has relevant credit lines or deposits full margin in the Bank.

Business flow

1. The goods arrive earlier than the L/C documents (including the original bill of lading), and the importer submits an application for delivery guarantee to the Bank.

2. The Bank will issue a delivery guarantee for the importer after checking.

3. The importer handles the delivery the goods at the shipping company (or other carrier) with the delivery guarantee issued by the Bank.

4. Upon arrival of the documents under the L/C or collection, the importer will handle the payment and redemption of documents at the Bank, and then present the original B/L to the shipping company (or other carrier) in exchange for the previously issued delivery guarantee and return it to the Bank.

Reminders

1. The basic premise for handling delivery guarantee is:

(1) The settlement is by L/C;

(2) The method of transportation is by sea;

(3) The L/C requires the submission of a full set of ocean bills of lading;

2. It is necessary to apply to the issuing bank for delivery guarantee;

3. The applicant needs to have the relevant credit line or a single credit or full deposit for issuing the delivery guarantee;

4. You need to promise to the bank that issued the delivery guarantee that when the documents arrive, no matter whether there are discrepancies or not, you will not refuse to pay or refuse to accept;

5. After the original bill of lading arrives, you should promptly exchange the original bill of lading from the shipping company for the delivery guarantee, and return it to the bank that issued the delivery guarantee for cancellation as soon as possible.