LC Confirmation here means that, additionally to the issue bank, singly undertakes to pay the beneficiary (the exporter) if all the terms and conditions of the letter of credit square measure complied with.
Product Functions
The bank rather than the beneficiary, takes the credit risk of the issue bank, so the beneficiary will get the payment before the ultimate payment by the issue bank, on condition that all the terms and conditions of the letter of credit square measure complied with. Usually there square measure 2 sorts of confirmation: open confirmation and silent confirmation.
Product options
1. Reduction of risks and acceleration of the capital turnover. L/C Confirmation will facilitate exporters stop the risks from the issue bank, the country risk of issue bank and also the exchange management risks.
2. Double guarantee. excluding the conditional payment enterprise created by the issue bank, the exporters will get further conditional payment enterprise from Numerouno, inserting the exporters below double payment guarantee.
3. Payment assortment guarantee. The exporters upon presentation that befits the L/C’s needs and approval of the Bank, will gain the non-recourse payments or payments guarantees.
Eligible candidates
Application needs
I. Basic needs
Application Procedures
Product Functions
The bank rather than the beneficiary, takes the credit risk of the issue bank, so the beneficiary will get the payment before the ultimate payment by the issue bank, on condition that all the terms and conditions of the letter of credit square measure complied with. Usually there square measure 2 sorts of confirmation: open confirmation and silent confirmation.
Product options
1. Reduction of risks and acceleration of the capital turnover. L/C Confirmation will facilitate exporters stop the risks from the issue bank, the country risk of issue bank and also the exchange management risks.
2. Double guarantee. excluding the conditional payment enterprise created by the issue bank, the exporters will get further conditional payment enterprise from Numerouno, inserting the exporters below double payment guarantee.
3. Payment assortment guarantee. The exporters upon presentation that befits the L/C’s needs and approval of the Bank, will gain the non-recourse payments or payments guarantees.
Eligible candidates
- Exporters United Nations agency would like to get payment LC confirmation from a bank apart from the issue bank;
- Exporters United Nations agency would like to get non-recourse funds when presentation of documents notwithstanding the issue bank features a smart credit standing.
Application needs
I. Basic needs
- Wrongfully approved and registered with annually checked business license and different documents effectively proving its position and business scope;
- Having the export and import operation qualifications and real trade background;
- No blemished credit records in Bank or different money establishments.
Application Procedures
- Numerouno provides LC confirmation upon the request of the issue bank or bourgeois (beneficiary) once advising the L/C;
- The bourgeois presents the compliant documents to NumeroUno Business Consultants and Bank makes non-recourse payments or sealed payments guarantees to the bourgeois when examination and approval;
- Bank mails the documents to the foreign issue bank to say compensation and can ensure the payment when the foreign payment received.