Payment by L/C 1). Procedure The applicant fills out an application for issuing L/C according the contract and pays a deposit or provides other assurance, to request opening bank to open the L/C; The issuing bank issues the L/C to beneficiary according to contents of the application, and sends it to the notifying bank at the location of the exporter; The notifying bank gives the L/C to the beneficiary after checking the seal and if it‘s correct; The beneficiary, after his/her confirmation that the content of the L/C is consistent with the contract, provides shipment, has documents prepared, issues a draft according to L/C provisions, and sends it to the negotiating bank for negotiation within the validity period of the L/C; The negotiating bank pays the beneficiary after checking the documents out according to L/C provisions; The negotiating bank sends the draft and shipment document to the issuing bank or specially appointed paying bank and asks for payment; The issuing bank pays the negotiating bank after checking the document out; The issuing bank notifies the applicant of documents against payment. 2). Account Information US Dollar Account Bank Account : 43014664600220101066 Beneficiary Name: MILUO ZHONGTIAN LONGZHOU FARM EQUIPMENT MANUFACTURING CO., LTD. BenefIciary Bank: CHINA CONSTRUCTION BANK HUNAN BRANCH Swift Code: PCBCCNBJHUX BANK Address: NO.2 BAISHA ROAD, CHANGSHA. HUNAN,CHINA.
Sinosure Services If your company would like to adopt the method of payment , you may submit relevant information of your company according to our requirements, for your company going through credit investigation by China Export & Credit Insurance Corporation (Sinosure). If Sinosure recognise the strength of your company, we will approve the method of payment within the amount limit admitted by Sinosure.