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Commercial Draft Inter-Bank Discounting (Two Way Buy-out)


 

Introduction

Commercial draft inter-bank discounting (two way buy-out) means that the buyer purchases legal and undue commercial drafts, and the seller buys them back on agreed date and price in the future. Rights of drafts are transferred to the buyer during the transaction process.

Features

1. Achieve capital returns through finance;

2. Improve financial liquidity.

Discount Rate

Generated by spread on basis of 3M SHIBOR.

Term

The maximum term is six months.

Target Customers

1. Financial institutions qualified for draft services at all levels;

2. Special credit line for commercial drafts financing granted by Bank of China.

Process

1. The applicant submits application and relevant materials;

2. The bank examines the commercial drafts and other related material;

3. Through examination, the two parties sign a two way buy out contract. The bank buys the drafts and disburses the fund;

4. On the maturity date of the contract, the former seller purchases the commercial drafts at a designated interest rate.

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