The Bank of China issues a payment commitment to the foreign exporter upon your application, promising to fulfill the payment responsibility to the exporter in compliance with the terms and conditions stipulated in the letter of credit. With the credit of the issuing bank, you can obtain favorable offer conditions in trade negotiations, and also effectively restrain the exporter from fulfilling the contract through the terms of the letter of credit to ensure the security of the transaction. Advantages of Bank of China The Bank of China has a full range of letters of credit, not only can it open regular letters of credit such as negotiation, acceptance, payment, etc., but also can open special types of letters of credit such as transferable, revolving, back-to-back, false forward, etc. according to your needs. We have professionals who are well versed in international practices and related knowledge, and can provide you with high-level professional services in terms of review, document control, reasonable refusal of payment and correspondence negotiation. We have excellent reputation and our letters of credit are widely accepted by customers and banks all over the world, which helps to enhance your market image. 2. Import collection Bank of China accepts the commission from foreign collecting banks, prompts documents to you according to their instructions and collects the money, including payment delivery (D/P) and acceptance delivery (D/A). Import collection procedures are simple and less expensive. 3. Outward Remittance Bank of China entrusts foreign banks to pay a certain amount of money to a designated payee according to your instructions, including bill transfer, letter transfer and telegraphic transfer, of which telegraphic transfer is the most commonly used. Advantages of Bank of China With a well-developed clearing network and rich professional experience, Bank of China can choose the most convenient remittance route for you. With multi-currency accounts with major clearing banks, we can provide you with remittance services in various freely convertible currencies. Relying on advanced technology and good relationship with agent banks, we can provide full tracking service for large amount remittance to ensure the safe arrival of the money.