What is an Internet letter of credit, the Internet of Internet credit

The credit rating is divided into AAA (highest), AA, A, BBB, BB, B, CCC, CC, C (the lowest) and is determined by a third-party credit rating agency after a comprehensive evaluation of credit. The higher the credit rating, the better the credit, and the less risk of damage to netizens, customers, or the public interest due to the possibility of default. The evaluation indicators include the identity and qualifications of the operator and its operators, the scale of operation, profitability, service quality, technology, management, safety and social credit records. Detail.

I don't seem to have heard of it, so I searched the web.

Mr. Lin Junyue said two sentences: "The construction of the social credit system has only a starting point and no end" and "The construction of the online social credit system is an extension of the real society". According to Lin Junyue, at present, China's online transactions have been very developed, especially e-commerce, which is not only the largest in the world, but also leads the world trend in many places.

The social credit system is a social mechanism, and it is a new rule of the game established in the market in the era of credit economy. The establishment of a social credit system should not only be extended to the physical society, but also to the Internet. The rules to be established in the physical society, the network must also be established.

**Bright certificate to build online credit, publicize**credit information, facilitate netizens to identify, trust, and recognize the official**, so that netizens can feel at ease, worry-free, and rest assured.

1. Online L/C is characterized by its high efficiency and standardization.

It eliminates the physical space barrier between the bank and the customer, extends the front terminal of the bank's L/C business to the client, so that the L/C opening application and modification application are not subject to the transmission of paper documents, and increases the customer's autonomy;

2. Establish a customer-centric tracking and inquiry system for credit verification, which has changed the situation of isolating bank document processing information from customers in the past, and established an effective independent tracking and inquiry channel for customers;

3. The management of the sample module greatly reduces the ineffective repetitive work, and only the relevant elements need to be modified in the future.

Online Letter of Credit - Difference from Traditional Letter of Credit 1 Traditional letter of credit involves many parties. Buyer, seller, issuing bank, notifying bank, negotiation.

Online letter of credit.

Banks, these banks are not constant, different regions, different legal persons, different systems, different modes of operation, and the online letter of credit only involves the buyer, the seller and the online bank, the online bank is a fixed unit, can act as the issuing bank, the advising bank, the negotiating bank at the same time.

2 Poor transparency of traditional letters of credit. After the buyer issues the letter of credit, it will not be possible to get the details of the delivery until the issuing bank transfers the documents for negotiation Once the online letter of credit is opened, the buyer and the seller can check the business progress anytime and anywhere Because every step of the business process is recorded on the Internet, when the goods are ready, when the buyer is fully paid, when the goods are delivered, when the goods are received, and whether the buyer has any objections to quantity and quality after receiving the goods, etc., can be found online, and both parties can see the business process at a glance.

3 The process of traditional letters of credit is long. It generally takes at least one week for the buyer to issue a letter of credit and transfer it to the seller through the bank, that is, the seller has to wait at least one week for the buyer to know exactly the terms of the letter of credit; The two parties of the "online letter of credit" are interactive, discuss and modify the terms of each other, reach an agreement, and be informed in a timely manner; The review time of the traditional L/C negotiating bank generally takes one week, and the process of completing a L/C takes at least one month. And the process of completing an online letter of credit will not take more than a month.

4 Traditional letters of credit are expensive. Generally speaking, the cost of a traditional letter of credit is 0.5% of the transaction amount, and does not include the mailing and communication fees between the issuing bank, the notifying bank, the negotiating bank, the seller, the negotiating bank, and the issuing bank; The cost of online L/C is 0 1%, which greatly reduces the transaction cost for both buyers and sellers.

5 Traditional letters of credit occupy the buyer's funds for a long time. Generally, the buyer has to hand over all the payment to the bank (or have enough credit limit in the issuing bank) when the traditional letter of credit is issued, while the online letter of credit requires the buyer to pay the full price after the seller's goods are all ready.