Customs Guarantee

Product description

       A written document issued to the Customs at the request of the applicant to ensure that the applicant fulfils his duty to pay customs duties。

Product function

       Reduce the capital burden, speed up the customs clearance, and reduce the cumbersome tax refund procedures due to temporary entry items。

Product characteristics

       1.Avoid the capital occupation caused by the payment of customs deposit, and improve the capital turnover rate。

       2.Speed up the customs clearance of goods and avoid the cost of goods stranded at the port。

       3.Avoid repeated customs clearance procedures。

       4.For items temporarily entering the customs of other countries, the cumbersome tax refund procedures are reduced。

       5.Provide tax relief facilities。

Scope of application

       1.Import and export commodities related to the national import and export commodity tax reduction policy。

       2.Customers who have temporary import and export needs of equipment, machinery and other items in the process of overseas project contracting, overseas exhibition and exhibition。

       3.Processing trade enterprises import materials。

       4.The situation in which the customs applies "release before tax" to certain goods。

Application conditions

       1.Having the business qualification to participate in basic transactions;

       2.Customer credit is good, no bad record;

       3.Have the required line of credit for issuing a guarantee or can pay a full deposit;

       4.The business background is real and meets the requirements of bank business compliance review;

       5.Business information is complete and valid。

Handling process

       1.The client submits the application for the letter of guarantee and related materials;

       2.Bank review information and issue guarantee;

       3.Charge for letter of guarantee;

       4.Amendment of letter of guarantee;

       5.Guarantee payment/cancellation。

Business example

       Companies A and B import commodities such as iron ore and crude oil, respectively，Because the price of imported goods fluctuates with the international market，The customs value cannot be determined at the time of customs clearance，As a result, the amount of customs duty payable cannot be calculated for the time being，However, in order to avoid the management cost of imported goods demurrage，Affect sales，The bank offered to issue a customs guarantee for the enterprise，The guarantee enterprise goes through customs first，Pay customs duties in accordance with the regulations，Thus to meet the needs of enterprises first customs clearance, after paying taxes。

       Company C and Company D are large high-tech equipment import enterprises supported by national policies，The business needs to import core parts of large aircraft, key equipment for nuclear power plants, etc，Because the tax exemption approval issued by the competent authority has not been completed，The customs declaration encountered the problem of paying customs duties，Banks understand the needs of business，Customs guarantees were issued for the two companies，Realize the advance clearance of goods。