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1、Export Buyers Credit IntroductionExport buyers credit is a medium-and-long-term financing facility provided by exporters bank and supported by exporters home government to the importer or its banks, with the purpose of promoting the export of capital goods and services such as homebred mechanical an
2、d electrical products, complete equipment and overseas contracted engineering projects.Functions1. Support from exporter home country. Export credit, also called Officially-Supported Export Credit, is a credit provided by the exporters country for export goods of domestic financial institutions thro
3、ugh the preferential policies in order to support the export of homebred capital goods and to strengthen the competitiveness of its home products. As the policy executors, each nations Export Credit Agencies (abbreviated as ECAs) provide insurance, guarantee or direct preferential loans for the expo
4、rt credit.2. Optimize exporters asset-liability structures. Since export buyers credit is the financing for importers or their banks, exporters wont bear liabilities. Exporters have safe foreign currencies collection and accelerated capital turnover through it.3. Reduce importers financing costs. On
5、 the one hand, importers financing channels are expanded. On the other hand, the financing costs of export buyers credit under ECA items (insurance, guarantee or direct financing) are much lower than that of average commercial loans. Because the business objectives of export countries ECAs are to im
6、plement national policies rather than make profits, thus the premium rates (or the rates of guarantee) and the loan interest rate are always lower than market average.TermUsually no more than 10 years (from effective date of the loan contract to the repayment date of principal and interest)Interest
7、RateAffected by factors such as borrowers business information, loan amount, term and guarantee type, the interest rate usually adopts floating rate. Subject to external regulators and our banks policies related to loan rate, it will be confirmed in the loan contract.ChargesUpon the international co
8、mmon practice, export buyers credit will be charged management fee, obligation fee and other correlative fees according to certain rate standards.Target Customers1. Exporters shall be the entities who export capital goods and services such as homebred mechanical and electrical products, complete equ
9、ipment and overseas contracted engineering projects.2. Borrowers should be importers, importers banks (credit transfer banks) or import countries statutory borrowing sectors in sovereignty level (such as Ministry of Finance, central bank etc.) which are approved by Bank of China.Application Qualific
10、ations1. The aggregate amount of commercial contracts should be no less than USD 1 million;2. The portion of export goods made in China should be worth more than 70% of the contract value of complete equipment and 50% of the watercraft and aircraft. Otherwise, the proportion of loan amount to contra
11、ct value should be properly decreased;3. The proportion of spot payment in cash currency to watercraft contract value should be no less than 20%, and that to complete equipment contract value should be no less than 15%;4. The commercial contract of export buyers credit should accord with the relevan
12、t legal rules of import country and export country;5. The export enterprise should underwrite export credit insurance in insurance institutions in accordance with Bank of Chinas requirements;6. Meet other requirements of Bank of China.Process1. The stage of financing intentDuring the initial busines
13、s negotiation of two sides, or the exporters participation in overseas biddings, the exporter shall contact our banks enterprise business sector and applies for an intent letter of export buyers credit from our bank. Meanwhile, after contacting with the relevant department of China Export & Credit I
14、nsurance Corporation, the exporter fills in a proposal form for applying for an intent letter or an intention letter of export buyers credit. Bank of China will examine and verify the application in view of the relevant references, through relevant institutions or credit standing systems. Then Bank
15、of China will accordingly approve or revise the financing package submitted by the exporter and issue a non-binding intent letter to the exporter.2. The stage of project negotiation and evaluationOur banks business personnel will track and monitor the project developing circumstances, help the expor
16、ter and the borrower with business negotiations, define the financing proportion and settlement methods of export buyers credit. Thus our bank can endeavor to match the loan payment and settlement methods with the loan terms such as withdrawal time and withdrawal amount.3. Negotiation and signing stage of loan and insurance contracts4. Loan use stageThe exporter transports goods, entrusts the international settlement department of our bank to process collection
