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Financial Services
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Financial Services
Services:
Comprehensive services including export agency and financing services, which enables customers to obtain loans amounting to 70% of the cargo value (or L/C value) on condition of the examination and acceptance of L/C and full transfer of the cargo ownership to HONGDA
Financing Qualification：
1) Issuing bank shall be with good credit standing, credit rating by Bank of China’s data shall be BB+ or higher.
2) No soft clauses in L/C
3) Customs clearance and international freight forwarding must be entrusted to HONGDA and service of financing could not be rendered until cargo ownership is fully transferred to HONGDA.
4) The clients shall pass the credit investigation by HONGDA.
5) The corporate principal and his/her spouse shall assume the obligations under bond
Amount of Financing:
1) For producers：not exceeding 70% of L/C value each time（Financing amount will accord to the value of every single batch for partial shipment）.
2) For trading companies：not exceeding 70% of order value each time, maximum value is 600,000RMB（Financing amount will accord to the value of every single batch for partial shipment）.
Flow Chart：