Busan Bank Launches Non-Face-to-Face Issuance Service for 'Import Cargo Ship Delivery Guarantee'

[Asia Economy Reporter Kim Hyo-jin] BNK Busan Bank announced on the 5th that it will implement a service to issue Import Cargo Release Guarantees non-face-to-face through corporate internet banking.

An Import Cargo Release Guarantee is a certificate issued by the bank that allows the importer to receive cargo from the shipping company without the original shipping documents when the imported cargo arrives earlier than the original shipping documents.

With the implementation of this service, customers who have import letter of credit transactions with Busan Bank can obtain the Import Cargo Release Guarantee through corporate internet banking without visiting the bank.

When a customer applies for the issuance of an Import Cargo Release Guarantee through corporate internet banking, the bank approves the issuance and sends a completion message to the customer, who can then print and use the guarantee from corporate internet banking.

A representative from Busan Bank’s Foreign Exchange Business Department stated, “We plan to introduce various non-face-to-face services so that export-import transaction customers can use banking services more conveniently.”