My water pool turned into a fish farm

Chapter 91 098 Bank Letter of Credit

It's better to believe it than to believe it. Jennifer also wants to earn this achievement, which is hundreds of millions of dollars!In the UBS branch in Guangzhou, China, there has not been such a large customer.

"Okay! Mr. Lin, how many accounts do you want?"

"It's better to have ten. If I can, I don't have to go to Citibank anymore. It's a waste of time!" Lin Hao shook his head and sighed, these banks are really troublesome.

If you go to Citibank, don't even think about trading today!
Jennifer's heart skipped a beat. Citibank was also very courageous. In order to attract deposit customers, it would definitely dare to register a domestic account offshore, and their background was stronger.

"No problem, ten will be ten, two wait a moment!"

She called the headquarters and asked the head office in Zurich to help register ten VIP accounts, all headed by Lin Hao.Isn't it easy to apply for a bank card as long as the head office enters and registers and transmits the information to the branch?Minutes~
The processing speed is very fast. In just half an hour, the registration at the head office is completed. Ten VIP savings accounts will be issued by the branch instead of the head office and the agreement will be signed.

Jennifer didn't dare to neglect, she sent the bank card and the agreement to her office, asked Lin Hao to sign and confirm, and transfer the account opening amount of 100 million US dollars, which is the minimum requirement.

A total of ten accounts require tens of millions of US dollars, which is 6905 million RMB, including foreign exchange fees. He remits money to the branch, and then a third party transfers it to him.

It took another half an hour, the money was laundered, and returned to Lin Hao's ten accounts, all turned into US dollars; the UBS official website can check the balance, and you can also check by phone.

However, they are all in English. His English level made Jennifer shake her head, and she barely passed CET-[-]. He really deserves to be a college student studying agriculture, not as good as Zheng Wanyu.

"Mr. Lin, none of these bank cards can be used directly in China, but they are commonly used in Europe and the United States. For payments exceeding one million dollars, you must be present in person."

"If you store a huge amount of money, we can discuss the interest rate again. At present, the demand deposit is about [-]% interest, and the interest rate is fixed, funds, and bonds."

Registering an account is not the purpose. UBS hopes to attract deposits and promote various investment projects. Jennifer began to introduce various services in an effort to stabilize deposits.

There are very few candidates for fixed deposits, and the most funds are bonds, and some invest in stock futures, which are the most popular among them.But Lin Hao was not interested, and interrupted again:
"Stop, stop, stop for a moment, I still have a big question I want to consult, if someone pays me a huge amount of money at once, how can it be more convenient?"

Jennifer was a little stunned. This question is very simple, and it is almost the most basic business common sense. In addition to direct payment, you can apply for bank guarantee and use letter of credit for transactions.

Lin Hao and Zheng Wanyu were stunned. They had no idea what the letter of credit she was talking about was, and they had never heard of it.Jennifer explained with a smile, and introduced the situation of the letter of credit:
Letter of credit (Letter of Credit, L/C) refers to the letter of credit issued by the issuing bank to the beneficiary at the request of the applicant (buyer) and according to its instructions, which contains a certain amount of money and is paid within a certain period of time with compliant documents. written guarantee document.

To put it simply, this thing is essentially a guarantee, written in the form of a document, to clarify the amount of guarantee.It is the main and most commonly used payment method in international trade.

For example, Swiss banks accept letters of credit. They open a letter of credit to the buyer's customer. After the transaction is successful, the bank pays for the goods and then collects the money from the buyer.

Divided into documentary credit, bare letter of credit.The former accounts for the majority, and the seller can find a bank to collect the payment with the bill of lading and letter of credit; the latter does not need the bill of lading.

It is also divided into revocable/irrevocable, sight letter of credit/usance letter of credit, transferable letter of credit/non-transferable letter of credit, etc.; Swiss Bank is the issuing bank.

Once the bank opens the letter of credit, no matter whether the buyer has the ability to pay or not, he must pay the seller!

If you are not at ease, you can also apply for a guarantee from another bank, which is called a confirming bank.In case the issuing bank goes bankrupt, the confirming bank must be responsible for the payment.

If the issuing bank closes down after presentation of the documents, the applicant can be directly required to pay; if the applicant goes bankrupt before payment is received, the shipment of goods can be stopped and handled by itself.

Therefore, the letter of credit is a very efficient and extremely safe transaction guarantee. Even if the buyer goes bankrupt or tries to default, the seller can get the money.

"That's right! If I'm not mistaken, Sotheby's will use the letter of credit from the Swiss bank, and I will trouble President Jennifer to help identify it later."

Lin Hao suddenly realized, and Zheng Wanyu also understood. It turns out that there are such things as letters of credit in this world.Sure enough, it is very safe and reliable, and it is very convenient!
"Did you say Sotheby's? I can check. If the other party has a letter of credit, the bank will have a record. If the two of you need it, I am willing to help."

"That's great! Thank you Beauty Jennifer, please check for us, Sotheby's auction house, has recently opened a letter of credit for 9 million US dollars."

Lin Hao was very happy, but Jennifer was stunned. A letter of credit of [-] million US dollars, that is to say, Sotheby's auction house needs to pay [-] million US dollars?my god~~
What on earth did these two little guys sell to make this international auction company spend nearly one billion dollars!Out of deep curiosity, she hurriedly called to ask; the letter of credit is not within the scope of confidentiality and can be inquired publicly.

Within 2 minutes, I received an email, and Sotheby's actually opened a letter of credit, worth [-] million US dollars!It is still a light letter of credit at sight, and the bank will pay at sight.

The Swiss bank issued the L/C, Citibank confirmed, the transaction payment time is within one month, and the goods are some kind of technology.The content is relatively simple, and the beneficiary is Lin Hao!
"It is certain that Sotheby's has indeed opened a letter of credit that is easy to collect, and it is for you. As long as you get the letter of credit, you don't need to worry about anything else."

Zheng Wanyu breathed a sigh of relief, the auction house was fairly honest and did not come up with any shady tricks.Lin Hao also nodded to express his satisfaction, and thanked President Dayangma for his help.

Jennifer's heart beat faster, a deposit of [-] million US dollars!How can I stay in a Swiss bank?She had to think of a way carefully and try her best to please the two young masters.

"Thank you, President Jennifer. If UBS can satisfy me, I can consider investing. The funds will not be transferred in a short time. Don't worry!"

Lin Hao lightly promised that anyway, if it is not used for a short period of time, it will be a disadvantage if it is stored in the bank if it becomes moldy. It is perfectly fine to make two waves of short-term investment!It's good to earn tens of millions...

(Thanks to the book friend Pluto for the reward, I am very grateful)

　Thanks to book friends Pluto, ruffian Westbrook, prident, Yuchongguangshang, Fengshan Hongye for their support!

　　
　
(End of this chapter)