If you use Yidatong's letter of credit for a buyout, Yidatong will be needed to review the letter of credit, make the documents and deliver the documents, and the important point is that the beneficiary of the letter of credit must be Yidatong. The operation process is very simple: in the early stage, the buyer and seller confirm that they want to make a letter of credit, Yidatong will provide the opening instructions and PI template in advance, fill in the information according to the template and send it to the buyer, and then ask the buyer to issue a draft letter of credit.

After receiving the draft, Yidatong will review and assist the seller in modifying the soft terms and other information. Then, after the buyer and seller communicate and agree to the modification content, the buyer will issue the original letter of credit to Yidatong. After the review is OK, the factory can arrange production and delivery.

After the goods are shipped, Yidatong will ask the factory freight forwarder to provide the delivery information (bill of lading supplement, packing list, invoice contract, etc.) to the bank in accordance with the letter of credit agreement. Yidatong will release 100% of the loan to the seller within 3 working days after the delivery is completed. Subsequent collection will be borne by Yidatong.