Reissue of a Documentary Credit refers to the service that CEXIM reissues a documentary credit at the request of another bank (the instructing bank).
It is CEXIM that undertakes the primary payment obligation. The instructing bank shall reimburse CEXIM for all the proceeds under the documentary credit.
Through utilizing our high credit rating, which is the same as China’s sovereign rating, can instructing banks benefit from our resources in international settlement and correspondent banking network so as to provide trade finance services to their customers.
Banks applying for this service shall sign the agreement of reissue with CEXIM;
Reissue of a documentary credit occupies the instructing bank’s credit facility in CEXIM;
The charges of reissue should be determined by both parties based on the principle of mutual benefit;
Please provide the authorization information accurately and completely by sending authenticated SWIFT messages or the written letter of authorization to us, and also the application for reissue, import contract, documents certifying the genuineness and validity of the trade, and other documents required by us;
The instructing bank shall check the background and genuineness of underlying trade transaction as well as the compliance with regulations of exchange administration;
CEXIM undertakes the primary payment obligation after reissue and has the right to decide the discrepancies in our sole judgment.