(two) after December 1, 2005 or debt registration

 

Since December 1, 2005, the contingent debt registration subject to loan for periodic registration, and the registration amount from the contract volume change registration of the amount of domestic lending bank shall, in the beginning of every month within 10 working days, to the local foreign exchange bureau reported "loans under external guarantees and the performance circumstance registration form".

 

To go beyond the "betting" of the foreign currency loans secured by foreign banks, issuing RMB loan, if the performance of external guarantee, settlement of foreign exchange bureau will be temporarily not approved the loan application; at the same time does not accept the application for loan enterprise registration of foreign debts. Grant foreign exchange loans, borrowing enterprises shall not be unauthorized foreign debt servicing, the agency also may handle foreign exchange for its.

 

Therefore, to guard against the risk of policy, as in an offshore guarantees for the foreign currency loan business, should carefully review the enterprise in the banks borrowed foreign debts and foreign guarantee under the contingent liabilities (including trade financing and credit lines), in addition to the loan approval material outside the normal, can require the borrower to provide the loan card and written letter of commitment, commitment to overseas performance, the performance in the amount of the "betting" quota.

 

(three) before April 1, 2005 or debt management

 

Before April 1, 2005 1, domestic banks RMB loans has accepted foreign institutional guarantee of foreign exchange, until the loan ended, in accordance with the silver (1999) No. 223 file management, namely: the debtor does not need to handle or debt registration; if the guarantor of foreign exchange guarantee, the bank to handle the foreign exchange settlement; guarantee after the performance, for the registration of foreign debts, not under the "betting" limit.

 

2, the extension

 

Before April 1, 2005, domestic financial institutions issuing loans has accepted foreign institutional guarantee of foreign exchange, and in April 1st after the need for extension, are processed by a new loans and guarantees, the debtor shall be handled according to the relevant provisions or debt performance when the foreign debt registration.

 

Matters needing attention:

 

1, the proportion of foreign investment is lower than 25% of the enterprises with foreign investment, foreign invested holding companies and foreign-invested leasing company, with overseas guaranteed domestic debt, such as overseas guarantee, the guarantee amount should be incorporated into the control scale of external debts.

 

2, the Chinese funded enterprises and foreign credit really business performance, domestic debtors should also go to the local foreign exchange bureau for short-term foreign debt contract registration and related information for the record. Chinese funded enterprises for credit really performance actually occurred on the outside of the guarantor's external debt principal balance of short-term foreign debt balance index not branch area.

 

Two, the financing lease

 

1, for the trade item, by means of financing lease enterprise imported machinery, equipment, import cargo declaration form of trade as "lease for less than one year", "lease trade", "lease tax", foreign payment of principal and rent, should undertake foreign debt registration formalities, the bank with the capital project the foreign exchange bureau information system bank end view related control information table of the pen business for rent and interest payment of foreign exchange.

 

Genus of the operating lease, the lease contract, the bank by payment notice or invoice, declaration of imported goods, the commerce department business leasing business reply, tax filing (if needed) and other materials directly handle payment of foreign exchange.

 

2, aircraft leasing

 

(1) the Chinese funded enterprises for aircraft leasing shall be approved by the national development and Reform Commission approval to the foreign exchange bureau for registration;

 

(2) more than one-year lease financing and financing lease after sale, as international commercial loans management;

 

(3) after sale leaseback business more than one year, the examination and approval by the State Administration of foreign exchange.

 

As with the foreign exchange bureau related business registration information system for rent foreign payment procedures.

 

 

The fourth chapterForeign guarantee

The first sectionAccept the foreign guarantee

"The foreign currency loans secured by foreign exchange", refers to the overseas institutions or individuals to provide assurance (including standby letter of credit) or by the domestic Chinese funded enterprises or enterprises with foreign investment (including Sino foreign joint ventures, Sino foreign cooperation, wholly foreign-owned enterprises) to provide foreign exchange pledge, by a domestic designated foreign exchange banks to domestic enterprises (hereinafter referred to as "the borrower") issued by the foreign currency loans.

 

A, accept overseas Preparation Certificate, letter of guarantee under the foreign currency loans

 

1, to accept foreign production license, guarantee under the condition of the foreign currency loans:

 

(1) preparing the card or letter of guarantee is unconditional, an irrevocable, transferable, need to be clear on the borrower's debt principal and interest and fees shall be jointly and severally liable.

 

(2) apply for secured by foreign exchange loan borrowers, can enterprises with foreign investment capital has been paid on schedule and has not been reduced, divestment and external security loan amount approved by the foreign exchange bureau of Chinese enterprises.

 

     (3) loans of RMB security exchange can be used to satisfy the fixed assets investment and working capital requirements, but shall not be used for the purchase of foreign exchange.

 

     (4) foreign exchange guarantee loans for the longest period of not more than five years.

 

2, credit management:

 

    In addition to Guangdong, Fujian, Zhejiang, Shenzhen provinces and one city pilot micro external credit really area, Chinese enterprises need to accept foreign loans borrowed from domestic security, shall first apply to the administration of foreign exchange and foreign security loan amount. Default, should apply for registration of foreign debts and the payment settlement procedures in accordance with the relevant provisions.

 

3, betting difference management:

 

(1) joint ventures under domestic loan guarantee contract shall be incorporated by foreign debt management, namely "betting" management:

 

The amount of foreign guarantees + total investment amount of the foreign currency loan ≤ - registered capital and long-term foreign debt borrowing short-term foreign debt balance +.

 

(2) accept overseas guarantee guarantee performance, the debtor shall be in the contract within 15 days from the date of the local foreign exchange bureau for foreign debt registration procedures, the scale of foreign debt management according to the following principles: the enterprise long-term debt, the accumulated amount of the short-term foreign debt balance and foreign organizations and individuals according to the actual amount of guarantee performance (foreign debt balance calculation) and, shall not exceed the betting difference.

 

(3) a creditor periodic registration management. Domestic enterprises engaged in foreign security loan business, the domestic financial institutions loans to implement the creditor centralized registration. The creditor shall in the first 10 working days of each month to the local foreign exchange bureau submitted to external security credit related data. The creditor and the debtor is not registered in the same foreign exchange administration, it shall also submit the data to the local foreign exchange bureau of creditor and debtor.

 

  4, the performance of external guarantee payment settlement or purchase:

 

If the debtor defaults, the bank loans audit related information according to the preparation of certificate, letter of guarantee and claim clause indicating foreign claims, receiving the performance of foreign exchange for overseas guarantor for payment, hold the relevant materials submitted to the local administration of foreign exchange, the approval certificate of foreign exchange by safe and repay the capital interest and related costs.

 

The loan application shall submit the following materials:

 

The application report;

 

The proof of the relationship between financial institutions and the debtor, creditor's rights guarantee contract;

 

The proof of purchase of foreign exchange settlement or written material source of funds;

 

Foreign guarantee registration of foreign debts under the documents provided by the debtor (for liquidation, dissolution or other causes the debtor cannot undertake foreign debt registration certificate, it shall explain the reasons);

 

Other materials required by the foreign exchange bureau.

 

  In 5, the matters needing attention:

 

(1) preparation of certificate, letter of guarantee payment currency, the euro, the yen is only limited to the dollar, Hong Kong dollar, pound sterling and the Swiss franc.

     (2) the maximum loan amount does not exceed the amount in accordance with the loan for the preparation of card cash purchase price of converted into RMB amount of exchange rate risk, and consider appropriate to reduce the proportion of financing.

 

(3) to go beyond the "betting" of the foreign currency loans secured by foreign banks, issuing RMB loan, if the performance of external guarantee, settlement of foreign exchange bureau will be temporarily not approved the loan application, and the loan enterprise's foreign debt registration inadmissible; grant foreign exchange loans, borrowing enterprises shall not be unauthorized foreign debt interest, handling bank also may handle foreign exchange for its.

 

    Therefore, to guard against the risk of policy, as in an offshore guarantees for the foreign currency loan business, should carefully review the enterprise in the banks borrowed foreign debts and foreign guarantee under the contingent liabilities (including trade financing and credit lines), in addition to the loan approval material outside the normal, can require the borrower to provide the loan card and written letter of commitment, commitment to overseas performance, the performance in the amount of the "betting" quota.