I. The concept
Export Buyer's Credit refers to the medium and long-term foreign currency loans offered by our bank under the insurance of China Export & Credit Insurance Corporation to Vienamese buyers (or buyer's banks, government agencies) to purchase goods or services exported by China.
II. The usages
For Chinese domestic large or medium manufacturing enterprises which are implementing the "go global" strategy, globalization requires banks operating in a financing.
III. Special instructions
1. Before the implementation of the project, our Bank may be based on the actual situation offer a letter of financing interest for the Chinese enterprises to increase competitive bidding chips;
2. Our Bank can provide the channel to apply China's export credit insurance and assist communication and liaison for Chinese-funded enterprises or Vietnamese owners
3. Our Bank can help Vietnamese owners design financing programs as project finance advisor;
4. China Export & Credit Insurance Corporation identified a certain percentage of guarantee under the project contract, thus our bank can identifythe financing structure and the amount set.
5. Loan proceeds paid directly to the exporters in China;
6. Lending rates are lower than ordinary commercial loans.
IV. Execution procedures
The first step:
The customers must provide us the following information:
1. The letter of intent provided by China Export & Credit Insurance Corporation (if the exporter is the applicant for insurance).
2. Business contracts (or the instruction of commercial contracts which are intended to be signed)
3. Letter of exclusive entrustment issued in English and Chinese in which the exporters entrusted our bank
4. The formal application documents
5. The project approval documents provided by competent departments.
6. Exporters provide the deductible part of the China Export & Credit Insurance Company the guarantee or other legally and effective security recognized by our bank .
7. Other documents required by the bank
The second step:
Our bank will base on the information provided by the customer to conduct examination and give the prerequisites for implementation
The third step: After customers meet the conditions approved by the bank, our bank will proceed to make this work.
The fourth step: Co-orperate with the bank to implement the loan and do the post-loan management.
The fifth step: Expired loans will be due in.