Guangdong ICP Certificate No.05058995
粤公网安备 No.44010402002437
Clean Collection
Introduction
Export Clean Collection means a settlement method that our bank is entrusted by clients to collect payment from overseas banks by mailing bills (drafts, promissory notes, or cheques – including traveler’s cheques) to them. There are several collection methods for your choices according to where the payer locates and in what currency the bill was issued, for example, Collection, Final Credit Service, Cash Letter, Guangdong-Hong Kong notes Clearings,etc.
Features
1. Simple procedure. Clean collection is suitable for personal collection or small amount settlement by companies.
2. Collection: the bills will be mailed to the issuing/paying bank for collection, and then the issuing/paying bank effect payment directly. It is safe but less speedy. Usually it takes two weeks or even one month, and the charges are high.
3. Final Credit Service: the bills will be mailed to the corresponding bank which signed Final Credit Service agreement with our bank. The corresponding bank will check the bills after receiving them, send it to the issuing/paying bank, and then remit the proceeds to us after they receive payment from the later. Generally it takes about 15 working days, but it’s less costly compared with a/m Collection . This service is only suitable for bills in amount lower than USD750,000 and domestically issued in
4. Cash Letter: the bills will be mailed to the corresponding bank which signed Cash Letter Service agreement with our bank. The corresponding bank will check the bills and prepay the proceeds to us using its own funds before they send the bills to issuing/paying bank for collection. If the later dishonors the payment, the corresponding bank will recourse the payment from the payee through our bank. It takes about just one week, and the charges are low while the risk of recourse exists.
5. Guangdong-Hong Kong notes Clearings: it is limited to banks which has subsribed the services of Guangdong-Hong Kong Notes Clearing Centre, and the notes must be issued in HKD and payable in
6. Shenzhen-HongKong notes clearing: it is limited to payee’s banks that located in Shenzhen and the bills must be be issued in HKD or USD payable in
Our Commitments
1. We offer Cash letter services which is speedy and less costly to clients who has account with us and with good records of business. This service is recommendable for bills issued/paid in Europe,
2. For our new customer, we could provide Final Credit Service which is safe and less costly for bills issued in USD and payable in
3. For bills issued in HKD and USD payable in HK, we could provide you Guangdong-Hong Kong Notes Clearing and Shenzhen –Hong Kong Notes Clearing services, which is speedy and less costly.
Kind Reminders
1. Please require the issuer of the bills to provide his/its detailed address with country name, so as to satisfy the Foreign Currency Policies of P.R. China.
2. Do not take in bills that are issued in non exchangeable currencies, or only payable in restrictly nominated districts.
3. Avoid bills that are endorsed and transferred, in huge amount, issued by non-reputable bank, or with unknown format, which are highly risky to be faked or illegally amended.
4. Please require the payer to present bank promissory notes or bank drafts, as the risk of dishonor is relatively high for private bills or corporate bills.
5. You are required to present the application form along with original bills under clean collection.
6. If the bills are problematic, we retain the rights to recourses from you under Cash Letter and Final Credit Service. Even the proceeds are collected by Collection, if the payer evidence the endorsement is fake, we still have the rights to recourse from the clients.
7. Risks such as document loss ,payment failure,etc are for client’s account.