The China Merchants Bank New York Branch with its agents around the globe provides foreign exchange or RMB cross-border remittance services.

1. 1、Low cost. Compared with the letter of credit and collection methods, remittance has simplified procedure and lower cost.                        

2. 2、Fast process. T/T (telegraphic transfer) is fast, it is conducive to your timely collection of payments, and speeds up capital turnover.                        

3. 3、Easy operation. It is easy to operate, and has wide a range of applications.                        

With an outstanding international reputation, China Merchants Bank New York Branch can provide you with fast and professional L/C services.

1. 1、Credit Enhancement. Provides bank credit that helps with your business transaction.                        

2. 2、A complete range of services. New York Branch can provide all kinds of L/C services according to actual trade needs. These include transferable L/C, reciprocal L/C, back-to-back L/C, sight payment L/Cs, deferred payment L/C, and red clause L/C.                        

The China Merchants Bank New York Branch provides professional collection services, such as D/P (documents against payment), and D/A (documents against acceptance).

1. 1、Low cost. It can help you reduce financial costs and control costs.                        

2. 2、Simple procedure. Compared with the letter of credit, the procedures are simple and easy to complete.                        

3. 3、High efficiency. Immediate payment of goods or promissory notes upon the delivery of goods or documents                        

The China Merchants Bank New York Branch provides importers with wide range of financing services in international trade settlement, including import letter of credit, import bill purchase, import bill purchase under collection, import T/T bill purchase, import refinance, etc.

We provide capital solutions to importer in international trade, improved liquidity, and accelerate the turnover of funds.

China Merchants Bank New York Branch provides exporters with various financing services in international trade settlements, including export bill purchase, advance against documentary collection, export T/T bill purchase, and packing loan, etc.

Help exporters solve financing issues in international trade, reduce capital occupancy, and accelerate the turnover of funds.

The China Merchants Bank New York Branch may purchase your cross border accounts receivable (A/R) without recourse to you, which have been accepted by a Letter of Credit (L/C) issuing bank or a drawee under Documents against Acceptance (D/A).

A Standby Letter of Credit refers to the letter of credit that is issued for financing or guarantee for the purpose of the repayment of loans, rather than paying off the consideration in commodity transactions. China Merchants Bank New York Branch guarantees that when the applicant fails to fulfill its obligations, within the prescribed period, the beneficiary can raise a claim against the New York Branch according to the provisions of the Standby Letter of Credit, and the New York Branch will fulfill the payment/reimbursement obligations.

According to different scopes and nature, the Standby Letter of Credit can be divided into tender standby letter of credit, financial standby letter of credit, performance standby letter of credit, quality standby letter of credit, advance payment standby letter of credit, retention money standby letter of credit, and payment standby letter of credit, etc.

1. 1、 The main function of a Standby Letter of Credit is to solve the issue of mutual mistrust between both parties in a transaction. With its good reputation, China Merchants Bank New York Branch is acting as a guarantor to promote smooth transactions by providing guarantees for a party in the transaction.                        

2. 2、A Standby Letter of Credit also relieves financial pressure. The tender, performance, quality, and retention money standby L/C can reduce a construction entity’s occupation of funds arising from the payment of cash deposits, and enables the construction entity to receive a certain amount of capital gains.                        

3. 3、A Standby Letter of Credit can safeguard the interests of the involved parties. In case of breach of contract, the performance of the Standby Letter of Credit  can compensate the damaged party and penalize the breaching party , thus saves trouble and expenses arising from possible litigation or arbitration among the parties.                        

4. 4、Standby Letter of Credits can be used widely in different fields. It not only can be used in international commodity trade, but also can be used in construction projects and other fields.