The Bank provides e-Guarantee service to import/export business operators via the electronics service channel of the Customs Department based on the followings terms and conditions:-
- Operators have e-Guarantee credit line, which is a revolving credit line of the Bank.
- Operators sign a one-time request for the Bank to provide guarantee with the Customs Department whereby several tax and duty items payable to the Customs Department are allowed to be included in such approved e-Guarantee credit line.
- The Bank will provide the e-Guarantee with the Customs Department upon submission of the Bill of Lading via the electronics system by operators and decrease the e-Guarantee credit line in compliance with the procedures mutually agreed between the Bank and the Customs Department.
- Operators are entitled to file for duty refund from the Customs Department immediately upon the export as such request does not require the full import amount. The Bank will reinstate the e-Guarantee credit line subsequent to the duty refund by the Customs Department, and it is available for immediate utilization by operators.
- Decrease the customs formalities and enhance swiftness and convenience for customs clearance for timely export production.
- Faster duty refund for operators where gradual duty refund is enabled for each export.
- Enhance financial liquidity of operators with the revolving credit line.