31. In 2010, won the Innovation in Recruitment – Employer Branding Award
32. In 2009, HSBC was the proud recipient of two awards at the first ever Dun & Bradstreet Bank Awards – for Best Asset Quality – Foreign Banks and Best SME Financing –Foreign Banks.
33. HSBC was adjudged as the Best Securities Services Provider in India by AsianInvestor in the AsianInvestor Service Provider Awards, 2009.
34. HSBC equity fund was ranked 5 star fund by Value Research Online in March 2009.
73. Functions of the Advising Bank (Governed by Article 7 of UCPDC 500)Authenticate the DC Verifies DC is “workable” Collects advising commission and despatches DC to the beneficiary Evaluates DC for confirmation, if requested
74.
75. DC NEGOTIATION/DISCOUNTING– When the exporter requires funds before due date then he can discount or negotiate the LCs with the negotiating bank.
78. DOCUMENTARY COLLECTIONS Payment Collection against Bills also known Documentary Collection. Bank only acts as a medium for the transfer of documents but does not make any payment guarantee Collection of documents is subjected to the Uniform Rules for Collections published by the International Chamber of Commerce (ICC)
79. TYPES OF DOCUMENTARY COLLECTIONS Documents against Payment (D/P) Documents against acceptance (D/A)
80.
81. The collecting bank hands over the shipping documents including the document of title (bill of lading) only when the importer has paid the bill.
82. These terms are used when a collection order does not contain a bill of exchange.
83. The exporter keeps control of the goods (through the banks) until the importer pays
85. The Exporter allows credit to Importer, the period of credit is referred to as Usance
86.
87.
88. The offshore branch credits the nostro of the bank in India and the Indian bank uses the funds and makes the payment to the exporter’s bank as an import bill payment on due date.
91. The importer can deal with exporter on sight basis, negotiate a better discount and use the buyers credit route to avail financing.
92. The funding currency can be in any FCY (USD, GBP, EURO, JPY etc.) depending on the choice of the customer.
93.
94. Arrangement fees: This is charged by HSBC India for arranging the funds for the transaction.
95.
96. Drawee bank is not just giving an acceptance on behalf of the customer, but is co accepting the bills which mean even in the event of the importer not paying, the drawee bank will pay HSBC.
140. SME clients are aware about Documentary Credits, Buyer’s Credit & Import payments while its other trade products like Forfeiting, Avalisation are not known to its SME clients.
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