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Export Bill Collection under B/C
KBank act as Collecting Bank to send financial and/or commercial documents submitted by the seller for collection of payments from the buyer through the Collecting Bank under the terms and conditions agreed between the buyer and seller.
In collection process, we will follow the seller's instructions and the ICC Uniform Rules for Collection (URC 522).
Export Bill Collection under L/C
KBank will act as the nominated bank authorized by the L/C issuing bank to check the documents presented according to the terms & conditions stipulated in the L/C, and send the documents for collection under L/C.
We also trace payment with the issuing bank regularly to assure you of receiving payments in an appropriate time.
Export L/C Transfer
KBank will transfer the right and benefit of the first beneficiary under the terms and conditions of a transferable L/C to the second beneficiary (supplier or manufacturer), as requested by the first beneficiary of the L/C, by transferring some or all of the available benefits and conditions under L/C which they received from their buyers to another party, thereby creating a secondary beneficiary.
However, the L/C shall not be transferred unless it indicates the word “Transferable”. The terms and conditions of the original L/C must be replicated exactly in L/C transfer with the exception of the following which may be reduced or shorten:
- LC amount
- Unit price of goods (if stated in the original L/C)
- Expiry date of the L/C
- Presentation period
- Latest shipment date or given period for shipment
Export L/C Advising
KBank will act as an advising bank by receiving the L/C and/or amendment issued by the overseas issuing bank, check the apparent authentication of L/C, notifying and delivering to the exporter (beneficiary) in China.