Outward Bills for Negotiation

Outward Bills for Negotiation refers to comprehensive services with integration of document examination (in the case may be), document mailing, and reimbursement claiming provided by Bank of China (Malaysia) Berhad for exporters under Letter of Credit (L/C). 

The product is for the needs of exporters for settlement and collection of payments under L/Cs. 

Low risks -- The issuing bank's bank credit substitutes the commercial credit of importers and provides a conditional payment undertaking for exporters. 

High initiative -- So long as the document quality is ensured, the unconditional payment undertaking will be granted by the issuing bank, while the document quality is under the full control of exporters.

Passing on costs -- Banking fees related to issuance of the L/C may be borne by importers, which is advantageous for exporters. 

Exporters who are not familiar or confident with the credit standing of importers, thus requiring additional commitment from the bank of importers. 

The enterprise is maintaining current account with our bank. 

When entrusting the bank to do the operation of outward bills for Negotiation, the exporter/beneficiary should provide the following documents:

a. Documentary Collection and/or Negotiation Form.

b. Full set of documents in accordance with the LC term and conditions.