Capital Business Credit (CBC) is marketing a new product that provides an alternative to letter of credit (L/C) financing specifically targeted at US importers buying from multiple Asian manufacturers.

CBC is one of the largest trade finance companies in the US that is not affiliated with a commercial bank.

Credit terms

For traders wanting to write business on closer to open account than L/C terms, CBC has developed its Supplier Early Payment (SEP).

It allows importers to extend credit for up to 90 days on open account credit terms.

Trader benefits

Under SEP, Asian exporters receive customer credit protection and immediate cash for receivables upon shipment while importers receive extended open account terms and payment flexibility.

CBC Trade Finance will purchase from exporters, without recourse, for up to100%, less discounts, accounts receivable due from small- to medium-sized importers.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.