Loan with the export tax rebate account under custody means the short-term working capital loan our bank provides your company under the condition that your export tax rebate account is in complete custody of our bank. Such kind of loan is to solve the short-term liquidity problem your company may face with when the export tax rebate has not been paid to your account timely and is secured by the expected tax rebate fund. This kind of loan is a short-term loan and will occupy your working capital loan credit line. Export tax rebate account is a kind of special deposit account and we will conduct close management on the account and it could not be used to handle the daily settlement business of the company. It is restricted to receive inward remittance of tax rebate only.
Subject and Conditions
Your company should be an international trade company with import and export business license or a production enterprise with license for export of your own products. You should maintain a settlement account and tax rebate account with our bank for the management of export tax rebate fund. Your company has stable export business and good situation of export income in foreign exchange. In addition your company has good creditworthiness, complete financial system and the capability of debt repayment. Besides, your company should also comply with other requirements of our bank.
Loan Amount, Tenor, Interest rate
Loan under export tax rebate account should not exceed 70% of your receivable of tax refund principally.
The tenor of the loan should match with the expected refund date of the export tax. Usually it should not exceed one year.
The interest rate should comply with the regulation of interest rate by The People's Bank of China as well as the internal regulation on working capital loan in our bank.
Subject and Conditions