The Import Collection is a service in which the Bank acting as the collecting bank, upon receiving collection documents from an overseas remitting bank, presents documents to our customers for payment or acceptance as instructed by the remitting bank.
2) Service Features：
Customers may obtain shipping documents immediately upon acceptance, payment or under other conditions, so that customers may take delivery as soon as possible.
To excellent credit customer, Bank of Kunlun may provide import bill advance if the customers meet the requirements.
3) Target Clients：
Bank of Kunlun’s Clients
4) Business Process：
1. Examination of Documents
After receiving the import collection documents, according to the instructions of advice for collection, the Bank fills in the notice of inward collection and notifies the customers to go through the relevant formalities of payment, acceptance and protest.
（1）Under the method of documents against payment(D/P), unless the remitting bank has other instructions, Bank of Kunlun must release the documents against full payment. The date of releasing documents should not be earlier than the required date of remitting bank.
（2）Under the method of documents against payment after sight, Bank of Kunlun will notify the payer the due day at first, and after the payment at due day, the Bank will give the full set of original documents to the acceptor.
（3）Under the method of documents against acceptance(D/A), the Bank will release the documents to you against acceptance of the bill of exchange (draft) guaranteeing payment at a later date. After the acceptance of payment, the Bank will give the full set of original documents to the acceptor, and notify payer at the due day. If it contains usance bill, and the used method is not included in the power of attorney, the Bank will process based on D/P and is not responsible for consequence due to the delay.
3. Payment refusal and dishonored bill of import collection business:
If the payer refuses to pay, the Bank will send out notification of payment refusal. If the instruction of the entrusted bank on handing with the bill is not obtained within 90 days after the notice is sent, the Bank will return the bill.