DraweeCollectingbankRemittingbankSalescontract买卖合同1.PPT

6.1.3 Parties to a factoring 1. The supplier / seller 2. The debtor / buyer 3. The export factor 4. The import factor 6.1.4 Procedures The importer and the exporter negotiate and propose to use factoring as the payment technique; The exporter and its factor sign a factoring agreement, entrusting the export factor to investigate the importer’s creditworthiness and to approve a credit line; The export factor notifies its correspondent factor to investigate the buyer’s creditworthiness; 4.The import factor investigates the buyer’s credit and approves a line of credit; 5. The import factor will notify the export factor of the information on the creditworthiness of the buyer and the line approved; 6. The export factor notifies the exporter of the result of the investigation and the line of credit approved; 7. They signs the sales contract, and the invoice value should be limited within the approved credit line, and then delivers goods; 8. The exporter submits the invoice copy to the export factor for finance and the advance is about 85% of the invoice value; 9. The import factor duns the buyer to make payment periodically; 10. The buyer makes payments due to the import factor; 11. The import factor remits the proceeds to the export factor; 12. The export factor pays the exporter for the rest 15% of the invoice value. exporter importer Export factor Import factor 1 2 3 4 5 6 7 8 9 10 11 12 13 Chapter 7 letter of guarantee (L/G) 海航邮轮海娜号 大新华轮船公司 融资租赁合同 沙钢船务公司 L/G 海航集团 Chapter 7 letter of guarantee (L/G) 7.1 Introduction 7.2 Types of L/Gs 7.1 Introduction 7.1.1 What is a letter of guarantee? A bank guarantee is a written promise issued by a bank at the request of its customer, undertaking to make payment to the beneficiary within the limits of a stated sum of money in the event of default by the principal. 7.1.2 Parties and obligations