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What happens if export payment is not received?

If amount not paid by your buyer, your bank debits back the amount which you had received from bank. Bank also takes insurance with Export Credit Guarantee Corporation against you for an amount of the said export discounting bills. So if bank does not receive amount from overseas buyer, bank claims insurance from ECGC.

What is export bill under LC?

The bank provides collection service after goods have been shipped as well as to purchase/discount Export Bills under Letter of Credit before the payment due date.

What is export bills under LC?

The bank provides collection service after goods have been shipped as well as to purchase/discount Export Bills under Letter of Credit before the payment due date.

What is import collection?

An import collection is a method of payment used in import trade. Accordingly, a foreign seller sends the commercial documents to his own bank which collects the payment from the buyer, i.e. your company through your bank after delivery.

What is export bills purchase?

Export bill purchase refers to a short-term financing provided by Bank of China Brussels Branch to the exporter after it delivers the goods and submits valid documents under L/C or agreement. Functions. The product aims to meet the short-term financing need of exporters under L/C or collection.

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