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I. Introduction
Shipping Guarantee: Use this guarantee to avoid high demurrage charges or price fluctuation in situations when your imported goods has arrived at the destination before shipping documents. ICBC offers guarantee for you to take delivery of goods before the original bill of lading arrives.
Bill of Lading Endorsement: When the L/C you opened in ICBC states that all shipping documents are in favor of ICBC, ICBC has to endorse the originals before you can collect goods. Come to ICBC with the originals of your shipping documents for ICBC to endorse so that you can proceed to take charge of the goods.
II. Features and Advantages
The two ICBC services allow you to collect goods without making payment first so that you can proceed to process or sale. The service helps increase your cash turnover and avoid paying the high demurrage charges or high fluctuations in the market prices.
III. Target Clients
When your company's imported goods arrives at the destination before the shipping documents.
IV. Operation Guide
For details, check with our Customer Manager or your nearby ICBC branches.
V. FAQ
1. Shipping guarantee is not available if the LC stipulates that shipping documents are non full-set of document of title;
2 Once applied, your company cannot reject regardless of any discrepancy in the documents. Your company has to pay or accept timely.
VI. Statement
Information herein is for reference only. Industrial and Commercial Bank of China Limited reserves the final rights of interpretation. Refer to the announcements and regulations of local branches for further details.
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