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Bank-Customs Link

I. Definition
"Bank-Customs Link" is an ICBC financial product designed for I/E companies to declare customs online and make paper-less customs clearance. It takes full advantage of the modern information technology and ICBC's powerful technological strength to link the customs system, China E-Port system, third-party payer's payment system and ICBC banking system to jointly provide safe and highly efficient customs clearance and duty payment service for I/E companies. Under "Bank-Customs Link" system, "e-Guarantee" is a revolving guarantee for I/E companies when they pay I/E duties online within a certain period of time. The beneficiary is China Customs. I/E companies use "e-Guarantee" to clear goods through Customs first within the revolving guarantee limit and pay customs duties within the specified period later. ICBC is liable for the tax payable by the I/E companies.

II. Target Clients
Corporate customers (enterprises and public institutions) who need to pay I/E duties and taxes.

III. Features and Advantages
1. Speedy
Through Bank-Customs Link, companies no longer have to run between Customs and bank. Instead, they only need to send a tax-payment instruction to the platform. Customs releases the goods to companies once all details are confirmed by bank. The entire payment process only takes a few minutes. Information flow, cash flow and goods flow are processed from one location to reduce trade cost and time spent in clearing customs.
2. National coverage
Trade data are processed in one location supported by ICBC's nationwide centralized data center. To companies, they can clear goods, declare goods through customs anywhere in China, and make payment in different places through Bank-Customs Link after opening settlement A/C at any ICBC outlet. ICBC gets back the paper tax bill in a way as agreed with the Customs and transfers customs tax payment by the companies to the treasury. The paper tax bill will be returned to companies as requested.
3. 24*7 services
Bank-Customs Link service is available around the clock, not restricted by office hours, public/national holiday. Companies can pay customs duties online for goods to be cleared through Customs as soon as possible in order to avoid the high cost of detention of goods at the harbor.
4. Guarantee by bank
E-Guarantee allows companies to clear goods through Customs first, then pay customs duties later. Within the payment period specified, companies can pay the duties anytime to ensure liquidity. E-Guarantee also enables companies to clear goods through Customs faster, use company funds more efficiently and avoid any red-tape on the use of company funds due to too many customs declarations, too large tax amount and too urgent to pay.
5. Stable and reliable
Using ICBC's international-standard proprietary encryption algorithm, multiple layers of security measures - encryption during data transmission, separated network, ID authentication, are deployed to ensure reliability.

IV. Service Channels

V. Application Condition
1. A certified user of China e-Port system, who has corporate card and operator card to access online services. Companies submit application to the card center of China e-Port to apply for corporate card and operator card.
2. Primary deposit account or general deposit account opened at ICBC.
3. Sign tripartite agreement online (company, payment platform, China e-Port); sign e-Payment service agreement with ICBC.
4. At "payment platform", submit application using settlement A/C opened in ICBC as the account for payment of customs duties, supply information about company and account, and authorization. ICBC approves the application.

VI. Steps
1. Company declares to Customs
Import/export company login China e-Port system and makes the customs declaration.
2. Customs issues "Customs Duties Advice"
Customs accepts declaration of import/export goods, generates "Customs Duties Advice" which will be transmitted to e-Port data center and payment platform system through computer system.
3. Company issues payment instruction
Company logs in payment platform system, checking "Customs Duties Advice". If there is no dispute on the "Customs Duties Advice", choose payment option - e-payment or e-guarantee. After that, send "Pay customs duties" instruction and make the payment. If there is dispute, submit application again to Customs.
4. ICBC deducts Customs duties in advance
ICBC "Bank-Customs Link" system automatically deducts the customs duties according to the "Customs Advice" confirmed by the company.
5. Customs releases the goods
According to the receipt of successful pre-deduction from the "Bank-Customs Link" system, the Customs proceeds with inspection and releases the goods before sending an advice to ICBC for actual deduction.
6. ICBC deducts amount for customs duties
"Bank-Customs Link" system deducts actual amount.
7. Pickup and delivery of paper-based voucher and double-check electronic data.
Upon completion of actual deduction, ICBC sends staff to pick up the paper-based Customs Duties Advice at the Customs and double-check the content against the data in the database. After double-checking, the bank will stamp the paper-based Customs Duties Advice and pass the advice to the company as payment vouchers, or give to company directly at the Customs.

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