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Foreign Currency Loans

Introduction

The Foreign Currency loan of BANK OF CHINA (HUNGARY) CLOSE LTD. is raised by the Bank on its own and granted to enterprises. Currencies of the loans include US dollar, Euro. Both the fixed rate and the floating one which is decided with reference to LIBOR plus comprehensive cost of the bank's financing and relevant profits, are acceptable for the loans. To meet the customers' requirement, BANK OF CHINA (HUNGARY) CLOSE LTD. can swap the floating rate into fixed one. Compared with foreign government loans and Export Credit, foreign currency loans have diversified uses in equipment and material purchase, etc..

Business lines

Foreign currency loans of BANK OF CHINA (HUNGARY) CLOSE LTD. meet the enterprises' need in working capital requirement as well as fixed asset investment.,and vary the term of loan as short-term, medium-term and long-term..

Eligible Applicants

Foreign currency loans of BANK OF CHINA (HUNGARY) CLOSE LTD. are only extended to enterprises. Any legal entity with account in BANK OF CHINA (HUNGARY) CLOSE LTD. and the ability to repay can apply for foreign currency loans.

Application Qualifications

1.The borrower should be an enterprise or institutional legal entity, or other economic organization or an individual industrial and commercial household registered after verification and ratification of the industrial and commercial administrative organs (or competent authorities), and should bear a "Business License for the Enterprise Legal Entity" issued by the industrial and commercial administrative departments;

2.The loans must be used for due and reasonable purposes and can bring economic benefits;

3.The borrowers shall have relevant sources of foreign currency. If the borrowers have no foreign exchange income, they shall be authorized by the foreign exchange administrative organto purchase foreign exchange for the repayment;

4.Conform to other BANK OF CHINA (HUNGARY) CLOSE LTD. regulations on loans.

Required Materials

1.Application for loans;

2.A certificate of the legal representative and a letter of authorization, resolution of the board of directors and the statute of the company;

3.Business license of the legal entity verified in the annual check (copy files accepted);

4.Audited financial statements of the borrowers for the last three years and recent financial statements;

5.Certificate of Loan;

6.Other documents and certificates required by BANK OF CHINA (HUNGARY) CLOSE LTD.
Application procedures

Borrowers should submit application to the Corporate Banking Department of BANK OF CHINA (HUNGARY) CLOSE LTD., with required documents and materials;

BANK OF CHINA (HUNGARY) CLOSE LTD. examines and verifies the application materials and requires further supplementary materials if necessary;

After the internal approval, BANK OF CHINA (HUNGARY) CLOSE LTD. signs loan contract with the borrower;

Before the borrower can draw money according to the loan contract, it shall first fulfil preconditions for the withdrawal and register with the foreign exchange administration.

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