Korea Exim EDCF Global Network
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About Us Financial Service Financial Product EDCF/IKCF Sustainability Customer Service
Korea Exim EDCF Global Network
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About Us

Financial Service

Financial Product

EDCF/IKCF

Sustainability

Customer Service

Success partner for your global takeoff,
The Global Network of Korea Eximbank.

Global Asia Europe America Africa
Representative Office(24) Overseas Subsidiaries(5)

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Trade Finance

Forfaiting Export Factoring Export Bill Purchase Letter of Credit L/C confirmation

Export Bill Purchase

Export Bill Purchase is a trade finance facility whereby Korea Eximbank purchases export bills arising from export transactions based on L/Cs or other arrangements (D/A, D/P, O/A, etc.)

Once the exporter completes shipment of the products as required by the L/C or the terms of the contract, and requests Korea Eximbank to purchase the export bill and shipping documents, the Bank pays the contract amount to the exporter and then proceeds to collect the payment from the importer's bank (for L/C, D/A, or D/P transactions) or directly from the importer (for O/A transactions) at the due date.

Terms & Conditions

Terms & Conditions table
Content Details
Beneficiaries
  • Companies with export records (with consideration to factors such as track record, expected payment amount, credit rating, collateral, etc.)
Eligible Transaction
  • L/C transactions or others (D/A, O/A) with payment terms below 2 years
Currency
  • USD, JPY, EUR
Eligible Amount
  • More than U$50,000 per transaction (except for partial shipments, or multiple transactions treated as occurring on the same date)
Repayment Term
  • 30 days to 2 years (may be less than 30 days for SMEs and medium-large companies or for O/A transactions)
Type of Credit
  • Revolving credit (individual transaction-based credit also applicable)
Exchange Commission Rate
  • LIBOR + spread (depends on transaction type, credit rating, and collateral)
Security
  • Unsecured in the case of creditworthy borrowers; guarantee letter, real estate, tradable securities, etc. for others