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Domestic Guarantee and Foreign Loan


 

Name
Domestic Guarantee and Foreign Loan

Introduction
For Chinese "going out" enterprises' subsidiaries in Thailand which are in need of production or operation fund and credit support from banks, they may apply for financing from Bank of China (Thai) Public Company Limited under the following precondition: the foreign subsidiary shall be secured by a SLC or L/G issued by a domestic branch of Bank of China or other commercial bank in which Bank of China (Thai) Public Company Limited is appointed as the beneficiary.

Features
1. It can meet the financing needs for the "going out" enterprises to establish subsidiaries in Thailand: A strong domestic corporate customer may have a Thai subsidiary with limited strength or not qualified for applying for financing credit independently from Bank of China (Thai) Public Company Limited. Therefore, the Thai subsidiary may solve its financing needs through "domestic guarantee and foreign loan".
2. It is simple and convenient: The financing application is handled through guarantee with rapid examination and approval of credit line, as well as easy procedures.

Interest Rate
Subject to Bank of China's management rules on loan interest rates.

Charges
All charges are subjected to the agreement.

Target Customers
Corporate customers in need of financing from Bank of China (Thai) Public Company Limited for commercial activities between parent company in China and subsidiary in Thailand or among affiliated companies.

Application Qualifications
1. The borrower should be a registered legal person of enterprise or other economic organization with the valid business license.
2. The borrower should have acquired valid SLC or L/G.
3. The borrower shall have an account at Bank of China.
The borrower should be in line with other loan requirements of Bank of China.

Required Documents
1. Loan application.
2. Certificate of enterprise legal representative or power of attorney, board of directors resolution and the articles of association.
3. Valid enterprise corporate (legal person) business license (copy).
4. The borrower's audited financial statements of the latest tree years and latest financial statement.
5. Other documents and certificates required by Bank of China.

Procedure
1. The applicant contacts the business development department of Bank of China (Thai) Public Company Limited, files the loan application and provides the above documents.
2. The Branch reviews the borrowers' application documents.
3. Bank of China (Thai) Public Company Limited contacts with relevant domestic branch of Bank of China or another commercial bank, and issue the letter of loan intent.
4. The borrower receives the valid SLC or L/G issued by the domestic branch of Bank of China or other commercial bank.
5. Both parties sign the loan agreement after the application is approved.
6. The borrower opens a loan account at Bank of China to obtain the loan.

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