Meeting demands in mainland China
Bank of Communications
The demand from Asian suppliers has seen a sharp increase in the need for accounts receivable coverage and Accord has been there to service it. Bank of Communications is the fifth largest bank in mainland China. They had an opportunity to take on the business of a very large manufacturer of LCD televisions and computer monitors who was selling into North America.
Bank of Communications needed reliable credit information and guarantees before risking shipment of more than $18 million USD to a North American electronics retailer.
As both Accord and the Bank of Communications are members of Factors Chain International (FCI), we already had the operational framework in place to handle the business. Together with our in-depth credit knowledge, we were able to quickly meet all of the client’s sizeable credit demands and guarantees, as well as managing their collections.
With Accord’s help, Bank of Communications was able to add a significant client to their roster and have peace of mind in financing their growing overseas sales.
"In addition, Accord does an excellent job collecting on our behalf, maintaining our account clearly and remitting the funds collected on a timely basis."