Shipping Guarantee

Product Introduction

Shipping Guarantee refers to a written guarantee for picking up the goods in advance, which is issued by the bank to the ship company upon the request of the customer (importer), in the case that the payment is made by an L/C, which requires that the complete set of bills of lading be submitted to the letter-issuing bank, but the imported goods arrives before the complete set of bills of lading arrives.

Product Features

1.It is suitable for a trade of which the transportation time is relatively short under the near-sea trade category.

2.It promotes the credit standing of a medium- or small-size enterprise, and solves the problem that the enterprise is unable to provide a shipping guarantee by itself due to the inadequate commercial credit standing of the enterprise itself.

3.It helps the enterprise receive the goods as soon as possible, avoid paying expensive charges due to the goods staying at the port, as well as avoid suffering losses due to the change of the market situation and goods quality.

4.It realizes earlier custom clearance and goods sale, eases capital occupation pressure, and expedites capital turnover.

Our Commitments

1.For the goods that meets the pledge conditions of our bank, the customer pledges the right of the goods under the L/C to our bank, the goods will then be in the custody of a custody company designated by our bank, or pledges the receivable goods payment of goods sale under the L/C to our bank, our bank will provide you with a credit line for shipping guarantee based on a discount deposit margin without requiring the customer to provide other pledge guarantee.

2.For an application for shipping guarantee which meets our conditions, our bank will issue the letter of guarantee within a working day after our bank has finished the examination.

Kind Reminders

1.Please apply with our bank for a credit line for shipping guarantee. Otherwise, a full amount of deposit margin shall be paid to our bank for issuing the letter of guarantee.

2.The completion of the processing of shipping guarantee means that the letter-issuing bank and the applicant waive the right to put forward nonconforming points in the vouchers under the L/C. Therefore, when you apply for the issuance of a shipping guarantee, you shall submit a copy of the bill of lading and the invoice to our bank, promise to waive your right to put forward nonconforming points in the vouchers under the L/C in writing, make the payment under the L/C, and process the acceptance procedure. 3.When you have received the original copy of the bill of lading, you shall reclaim the shipping guarantee at the ship company within the time specified by the bank. Otherwise, it will affect your credit line or the release and reuse of the deposit margin.