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Corporate Information
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Corporate Internet Banking
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Banker's Acceptance Draft
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The Banker’s Acceptance Draft is issued by the depositor with account opened at the acceptance bank. The bank should accept the draft after credit approval upon the application of the issuer. The bank will ensure unconditional payment to the payee or the draft holder at the designated date. The bank’s acceptance of the commercial draft issued by the issuer is a recognition and credit support to the issuer’s credit.
| |  Advantages | | |
Once the draft is accepted by the bank, the bank becomes the first payer for the draft, which makes the draft have more extensive acceptance and increases the liquidity of the draft; Meanwhile, the bank acceptance draft can help the buyer reduce the fund occupancy, increase the efficiency of fund usage; Meanwhile the buyer could finance by using the bank acceptance draft.
Qualifications | | |
- Target Customers
The acceptance applicant has to be a legal entity or other organization registered with Administration for Industry and Commerce, and has a deposit account opened with our bank.
- Qualifications
As an acceptance applicant, your company has to meet the following requirements:
(1) Able to provide sales contract with legal effect and valued added tax invoice；
(2) With sufficient repayment ability, good settlement record and settlement credit；
(3) With good credit relationship with our bank, and has no overdue loan record；
(4) Able to provide correspondent guarantee, or deposit a certain portion of guaranteed deposit as per requirements. Terms and Charges | | |
- Term ：The bank acceptance draft accepted by our bank should not be more than 6 months;
- Charge：We will charge a fee of 0.05% upon the bill face amount, less than 10 yuan will be charged as 10 yuan.
Applying Procedure | | |
All level branches and operation department of our bank can process the bank acceptance draft application. As an acceptance applicant, your company has to fill in a duplicate《Application of Bank Acceptance Draft》, and also provide the following documents： - Copy of the applicant company or guarantee company’s legal business license upon annual examination, copy of tax registration, copy of enterprise legal entity’s code, the ID of the legal representative, the amendment documents regarding the change of the legal representative etc;
- A written application for Bank Acceptance Draft and a introduction to basic information regarding the applicant and guarantee company；
- Last annual financial statements or recent financial statements of the applicant and the guarantee company, audited by social professional association (Accounting/Auditing/Asset Evaluation firm)；
- List of collateral assets and a written certificate signed by the authorized person who has the disposition right, and other relevant certificates from the guarantee person；
- The bank acceptance draft needs to be accepted, sales contract and value added tax invoice；
- Other documents required by our bank.
If your company requests to reduce or exempt guaranteed deposit, you need to provide other relevant documents as per our bank’s requirements. Our bank will process the credit investigation and approval according the loan procedure. Upon approval, our bank will sign an agreement with your company.
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