LC Advising

Description

LC Advising is a facility provided by CCB Sydney to cooperate with CCB domestic branches to advise LC (LC Advising), or advise LC in different currencies while the original LC is issued by domestic branches in CNY (Structured LC Advising).

This facility is to be used by domestic branches’ importer clients who need to pay overseas exporters in currencies other than CNY for trade transaction, while the clients require issuing LC in CNY, or other currencies.

Structure

Advantages

Structured LC Advising:

In the case that exporter may want to settle in a currency other than CNY, this product will still allow the importer to open a LC in CNY. With a separate arrangement between domestic branch and CCB Sydney, exporter will be advised and paid in the currency they have signed contract with importer.

● Assist clients to develop different currency settlement;

● No need of short-term foreign debt quota if the currency is CNY.