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Commercial Draft Discounting with Interest Paid by Buyer


 

Introduction

Commercial draft discounting with interest paid by buyer, a kind of commercial draft discounting, refers to the financing operation that the seller (the applicant for commercial draft discounting) negotiates with the buyer to pay the interests, and transfers the commercial draft to a financial institution for cash before the maturity.

Features

1. The buyer attains the objective to buy for cash by means of appointing payment date;

2. Speed up applicants' corporate turnover;

3. Decrease applicants' asset-liability ratio and increase capital adequacy ratio;

4. Effectively reduce financing costs for enterprises;

5. Expand financing channels.

Discount Rate

Generated by spread on basis of 3M SHIBOR.

Target Customers

Companies and legal organizations registered within the territory of the People's Republic of China, having deposit accounts and valid loan card and holding commercial drafts which could be proven dependable resources of acquisition and real relationships of transactions.

Process

1. The applicant applies for commercial draft discounting with interest paid by buyer;

2. Examination of qualification of the applicant by the bank;

3. Validation of the commercial drafts by HVPS;

4. Validation of the commercial drafts by the discounting bank;

5. Verification of authenticity and validity of the relationships of transactions by the discounting bank according to regulated procedure;

6. The applicant, the interest payer and the discounting bank sign a contract;

7. The interest payer transfers the discount interest to the discounting bank;

8. The discounting bank approves to transfer the discount funds to the applicant.

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