What is a Certificate of Claim?

Sending a claim means that after the exporter's bank receives the documents from the beneficiary and confirms that there are no discrepancies, it immediately sends the bill to the foreign issuing bank, and issues a remittance notice to the issuing bank or reimbursing bank to recover the foreign exchange payment. And related labor costs. In this process, the beneficiary should present the documents in good quality and on time, and the bank should correctly choose the route for sending the documents, correctly understand and choose the route and method of claim for the letter of credit.

Billing claim

Right!

Sending a claim means that after the exporter's bank receives the documents from the beneficiary and confirms that there are no discrepancies, it immediately sends the bill to the foreign issuing bank, and issues a remittance notice to the issuing bank or reimbursing bank to recover the foreign exchange payment. And related labor costs. In this process, the beneficiary should present the documents in good quality and on time, and the bank should correctly choose the route for sending the documents, correctly understand and choose the route and method of claim for the letter of credit.

Chinese name

Billing claim

Pay attention

Determine the billing method

Note two

Identifying the Rebate Object

Note three

Use the correct cable carrier

Note four

Familiar with the agent

The designated bank (hereinafter referred to as the claiming bank) claims for remittance is based on the relevant provisions of the letter of credit. This requires the claimant bank to carefully read the "invoice instructions" and "repayment clauses" of the letter of credit to determine the billing method and the object of remittance. , Use the correct cable transfer carrier, choose the correct cable route, and give instructions to the reimbursing bank on how to pay and how to notify the claiming bank. ^[1]

The claimant's billing claim route can be roughly divided into two categories and four types: ^[1]

(1) Sending a bill to the issuing bank and claiming compensation from the issuing bank

1. Express delivery by airmail or express mail. After the issuing bank receives the document, it will decide whether to pay it based on the surface condition of the document (that is, the issuing bank pays with the voucher). 2. The claimant bank will inform the issuing bank of the situation of the examination of the order by telecommunication, and request the issuing bank to make payment, and the issuing bank will make payment when it receives the notice by telecommunication. At the same time, the claimant will send the relevant documents to the issuing bank by airmail. If the issuing bank finds that the documents are qualified after the review, the reimbursement is valid; if the issuing bank finds that the documents are unqualified, it can recover the paid (Ie: TReimbursement by cable).

(2) Sending a note to the issuing bank and claiming from the reimbursing bank

1. Send the document to the issuing bank by airmail, and at the same time, claim from the reimbursing bank by letter.

2. Send the bill to the issuing bank by airmail, and at the same time, the power generation payment bank will claim against it.