I. Description
Electronic commercial draft rediscounting refers to the transfer of undue discounted electronic commercial drafts by bill financing business institutions of ICBC at all levels to another financial institutions in the form of discounting to obtain funds.

II. Target Customers
Financial institutions with bill business license and eligible for interbank business.

III. Features and Advantages
i. This business type enables financial institutions to flexibly buy and sell credit assets, thus adjusting the asset size and optimizing core indicators such as loan-to-deposit ratio;
ii. It allows financial institutions to effectively adjust the fund position, enhance the asset liquidity and simultaneously maintain asset returns;
iii. It may adjust the asset-liability ratio of financial institutions, enhance the asset allocation efficiency, and optimize the existing assets structure;
iv. It helps reduce the financing cost of financial institutions and decrease the asset risk.
v. It can shorten the transit time of commercial drafts and funds, reduce transaction costs, and enhance payment efficiency.

IV. Conditions
i. The duplicate copy (or the original) of the applicant’s business license, and a photocopy of financial license, affixed with the official seal;
ii. The applicant’s documentary evidence for the qualification of transfer discount business;
iii. A power of attorney authorizing the handler to handle the business (stamped with the official seal and signed/stamped by the agent);
iv. Original of the handler’s identification card, and photocopies of the identification cards of both the handler and legal representative;
v. Other documents required by draft financing business institutions of ICBC at all levels.

Note: The information on the page is for reference only. Specific businesses are subject to announcements and regulations of local outlets.