Import Letter of Credit
Use this service when your company makes an agreement with your exporter to use L/C as the settlement of trade. ICBC will open Letter of Credit to exporter based on your application. When ICBC receives all the commercial documents sent from your exporter's bank, ICBC will proceed for acceptance (or payment) to exporter or its assigner provided all documents are verified without errors.

Export letter of credit
In the case that the exporter and importer has agreed to use L/C as settlement instrument, the Branch is able to provide relevant export L/C services as per exporter’s request, such as L/C advising L/C amendment advising, L/C documents pre-examination and examination, L/C documents negotiation, L/C receivable collection etc.

Import Collection
When the seller sends the documents to the bank through his banker, the bank will inform the buyer immediately. Documents are released to the buyer when the seller’s payment terms are fulfilled. There are two types of import collection, namely documents against payment (D/P) and documents against acceptance (D/A).

Export Collection
The bank will send documents presented by the seller to the buyer’s banker in a timely manner.  Documents will be released to the buyer upon payment or against acceptance.

Guarantee/Standby Letter of Credit
A bank guarantee/standby letter of credit is a definite undertaking by the bank to pay the beneficiary a certain sum of money within a specified period if the applicant fails to fulfill his contractual or other obligations of an underlying transaction. It is usually to secure either a financial or performance obligation of the principal.

Letter of Credit Confirmation
Letter of credit confirmation is usually requested if the seller is not comfortable with the credit worthiness of the issuing bank, and/or is concerned over the buyer’s country risk. The confirming bank provides a guarantee of payment on due date on top of the issuing bank’s own commitment to pay the seller.

Packing loan
Packing loan is used to cover the cost of goods, material, production and shipment prior to export of the goods under the L/C you received from your overseas importer. After shipment, submit the documents to ICBC for negotiation against the L/C and return the packing loan once you receive the payment of goods from overseas.

Export L/C Discounting /Purchase
Export L/C Discounting: after the seller presents the documents called for under the Export Letter of Credit and a payment commitment from the issuing bank is received, the bank advances the seller the proceeds before the receipt of payment from the issuing bank.
Export L/C Purchase: after the seller presents the documents called for under the Export Letter of Credit and before a payment commitment from the issuing bank is received, the bank advances the seller the proceeds before the receipt of payment from the issuing bank.

Shipping Guarantee/Bill of Lading Endorsement
Shipping Guarantee: Use this guarantee to avoid high demurrage charges or price fluctuation in situations when your imported goods have arrived at the destination before shipping documents. ICBC offers guarantee for you to take delivery of goods before the original bill of lading arrives.
Bill of Lading Endorsement: When the conditions of L/C you opened in ICBC states that all shipping documents are in favor of ICBC, ICBC has to endorse the originals before you can collect goods. Come to ICBC with the originals of your shipping documents for ICBC to endorse so that you can proceed to take charge of the goods.

Import bill purchase
ICBC import bill purchase is a solution to address liquidity when your company has to pay foreign exchange to your overseas exporter under the L/C or collection terms. ICBC will make payment and collect back the shipping documents for your company to start processing or sales.