The world's local bank
You are here:
- Home
- Business
- International Service
- KEIC backed DA/OA Finance
You are not logged on.
KEIC backed DA/OA Finance : Without-recourse basis
Product Overview
To better support our export customers who have confronted the rapid change of trade methods from the traditional Letter of Credit to DA (Document against Acceptance) or OA(Open Account), HSBC developed this “Without-recourse financing” tool supported by insurance issued by KEIC(Korea Export Insurance Corp).
Product Benefits
- Cost savings by non-DC trade term
- Better discount pricing by using KEIC insurance
- Improved cash flow and benefit in financial statement
- Facility increase
- Prompt processing
Product Features
- Exporter transfers its right to claim and receive insurance payment covered by KEIC’s comprehensive insurance to HSBC. The transfer to be acknowledged by KEIC under agreement signed by 3 parties(Exporter, KEIC and HSBC)
- HSBC purchases the exporter’s bills under DA or OA trades on a non-recourse basis
Act now
Please contact the Commercial Customer Service Centre at 1588-7639 or visit a Commercial Banking Centre for more details.
