About the product

The written guarantee issued by the importer to the carrier or his agent for taking delivery, signed by the bank and jointly and severally liable by the bank when the imported goods arrive before the shipping documents. Delivery against bank guarantee is mostly used under the letter of credit, and a complete set of cargo rights documents are required for the letter of credit.

Product features

1. Reduce the occupation of funds. Use bank credit to take delivery and sell them, accelerate the return of funds and reduce the occupation of funds.

2. Seize market opportunities. It helps the importer to obtain real right documents, pick up the goods and resell them in time when the goods arrive before the documents, so as to take advantage of favorable market conditions to seize market opportunities.

3. Save financial expenses. It helps the importer to pick up the goods in time and avoid the occurrence of the demurrage charge.

Application

Applicable to cases where the sea voyage is short and the goods arrive before the documents.

Rate

0.5‰ of the delivery guarantee amount, with a minimum of 500 yuan, charge on a quarterly basis, and charge according to the minimum standard for those who receive full deposit.

Handling process

1. The goods arrive before the L/C or collection documents (including the original bill of lading), and the importer submits an application to the Bank.

2. After check and verification, the Bank issues a delivery guarantee to the importer.

3. The importer takes delivery from the shipping company (or other carriers) with the delivery guarantee issued by the Bank.

4. After the arrival of the documents under the L/C or collection, the importer handles the payment redemption with the Bank, and then exchange the delivery guarantee issued earlier with the shipping company (or other carrier) with the original bill of lading and return it to the Bank.