Trade Service

Trade settlement and finance has been one of the major businesses at New York Branch since day one. We have the most experienced team in the industry to provide full array of services for your U.S. – China bilateral trade needs. Importers, intermediate companies or agents, and exporters will benefit from such value-added services as follows:

·         Reimbursement collection

In contrast to standard, yet time-consuming way of collection in which the receiving bank mails out documents to the paying bank, you can designate us via SWIFT message to collect money from the U.S. paying bank in a much faster and reliable fashion.

·         LC advising, confirming and transferring

If you choose us as your advising bank, we will make the best effort to quickly send out the L/C advice.  This also applies if you are not familiar with or do not have correspondent banking relationship with the advising bank. We can make the L/C issued by your bank as valuable in the U.S. market as in China by adding confirmation, negotiating, discounting or transferring the L/C or issuing standby L/C.

·         Documentary acceptance (Acceptance on the draft)

By directly sending us the documents, you can be relieved from the hassle of choosing the right collecting bank and having to conduct follow-up inquiries. The convenience of using our service is still yours even if the beneficiary designates a collecting bank. All you need to do is to elect us as your collecting bank. This is especially true when you are uncertain about the physical location or service quality of the designated collecting bank.

·         Short-term finance

For the site L/C or usance L/C issued by your bank, if the importer or L/C applicant requests import finance for certain period of time, we can provide this facility to your customer according to prearranged short-term finance agreement between us.

·         Factoring

This is a comprehensive financing product, including trade finance, sales sub-account management, account receivables collection, credit risk management and bad debt guarantee. We will provide credit facility to both sellers and buyers based on their credit records and needs. The product has such benefits as revenue enhancement, risk coverage, cost savings, and simplification of procedure.

·         Forfeiting

This product refers to Bank of China‘s purchase of sellers' undue claims incurred from commodity, service or asset transactions. The seller or the bank of seller is able to transfer the credit risk of buyer or the buyer's bank to Bank of China by this product and gain benefits, such as transferring risk, improving balance sheet, and saving account management cost.

·         Risk participation

Following the new model of risk and profit-sharing sharing between financial institutions, we will take full or partial risk from transferor bank, based on the mutually agreed conditions. The risk transferor bank will benefit from providing more services to its customers through transferring risks to Bank of China. In addition, both the seller and the seller' bank will be able to improve balance sheet, save account management cost and be better protected from risk, while gaining large commodity transaction and project financing, prearranging financing plans and setting financing cost during negotiation period or before delivery.  C-NYB provides the following: mend it.

·         Supply Chain Finance

We can provide finance service to every phase of a transaction, ranging from a producer to an ultimate buyer. We also provide tailored, comprehensive financing solutions to meet a customer's individual needs.