Introduction
As a type of commercial draft discounting, commercial draft agency discounting refers to the business that the consignor of commercial drafts, the agent and the discounting bank sign a tripartite agreement, according to which the applicant for the discount entrusts transaction with the discounting bank to the agent and after the application ratified by the discounting bank, the discount fund will be transferred directly to the consignor.
Features
1. Improve customers' asset turnover;
2. Decrease asset-liability ratio and improve capital adequacy ratio;
3. Effectively reduce enterprises' financing costs.
Discount Rate
Generated by spread on basis of 3M SHIBOR.
Application Qualifications
1. Bank acceptance drafts accepted by the Bank of China Limited (including discounting institutions);
2. Commercial acceptance drafts with key account customer of the head office or first-class branches as the payer, and moreover with adequate credit line granted by the discounting bank to the consignor or the drawer.
Process
1. The consignor applies for a discount;
2. Qualification examination;
3. The consignor, the agent and the discounting bank sign a tripartite agreement;
4. The discounting bank examines and approves to transfer the discount funds to the consignor with interest deducted.
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