Export Rebate Account Trusteeship Loan

Product Introduction

Loan against export tax rebate refers to a short-term working capital loan for which the enterprise pledges its only export tax rebate account to CGB, and such enterprise’s receivable export tax rebate is used as the guarantee for payment.

Product Features

1.        The export tax rebate account shall be opened with CGB and left to CGB’s custody to guarantee the exclusivity of the account.

2.        The loan fund can be used flexibly, which effectively enhances the enterprise’s cash liquidity.

Our Commitments

1.        There is no need to provide additional pledge and guarantee. You can get the working capital loan from our bank simply by handling the procedure of leaving the export tax rebate account to CGB’s custody.

2.        Within the contract term and maximum line, the line can be used circularly, managed according to tax rebate batches; there is no limitation on using times and accumulated amount;

3.        The loan term is set flexibly according to the local tax rebating speed, and can be up to one year;

4.        The loan amount can be 95% of the currently receivable tax rebate specified in the export tax rebate audit form (or summarized tax rebate application form);

5.        In case you do not want to bear the relatively high interest of working capital loan, CGB can provide you with the credit line for opening of L/C, export loan package, export bill purchase, and opening of bank acceptance draft, etc. pledged with the receivable tax rebate, meeting your requirements on settlement varieties and fund management to effectively reduce the loan cost.

Kind Reminders

1.        You must ensure the authenticity of tax rebate; once you are suspected for tax fraud, our bank will immediately stop providing the loan of the credit line and demand you to pay back the loan immediately;

2.        Please provide our bank with the documents required for tax rebate loan; when necessary, our bank will ask for the opinions of related taxation department, custom office and foreign exchange management department.

3.        The export tax rebate account No cannot be changed at the customer’s discretion, so as to ensure the uniqueness of the account you open at our bank;

4.        As long as there is a balance in the tax rebate account, usually, the tax rebate shall be used to pay back the loan offered by our bank, no matter whether the goods payment is due, or whether the tax rebate corresponds with the loan.