Overview
The Off-Seasons Fertilizers Reserve Loan means the short-term working capital loan provided by ABC to customers for their development of commercial reserves of chemical fertilizers during off-seasons. This loan is also applicable to the acceptance of bills, discount, letter of guarantee, short-term letter of credit within 90 days, and other international trade financing, etc.
The commercial reserves of chemical fertilizers during off-seasons refers to the operating activity that, after entering into annual off-seasons of chemical fertilizers application, the chemical fertilizers circulation enterprises reserve partial chemical fertilizers produced in off-seasons and then put them on the market concentratively in the peak seasons. Where, the enterprises having signed an effectiveStorage Agreement for the Commercial Reserves of Chemical Fertilizers during Off-Seasons (the Agreement) with the National Development and Reform Commission and Ministry of Finance and being able to develop the business of commercial reserves of chemical fertilizers during off-seasons according to the regulations of the Agreement are called as the "Storage Enterprises"; and other enterprises dealing with the business of commercial reserves of chemical fertilizers during off-seasons are called as the "General Enterprises".
Features
The loan mainly meets the working capital demand of the "Storage Enterprises" and the "General Enterprises" for developing the business of commercial reserves of chemical fertilizers during off-seasons. It has two obvious characteristics: firstly, it prepares the plan on guarantee pledged with chemical fertilizers for enterprises, sets up chattel pledge with enterprises’ chemical fertilizers in stock, and increases an effective guarantee method for chemical fertilizers circulation enterprises; and secondly, this loan increases a special credit extension method for enterprises, and expands the space of credit extension for enterprises’ loans.
Procedures
1. Customers submit the application and related materials;
2. After the investigation and examination, ABC approves the application;
3. ABC and customers sign contracts for loan and guarantee;
4. ABC verifies the guarantee, and handles the formalities for registration of mortgage and pledge;
5. ABC extends the loans according to the regulations of contract;
6. ABC develops the post-loan management actively;
7. ABC recovers the loan in full-amount on schedule.
Application Channels
ABC authorized operating institutions can handle the business.
Customer Service Center : 95599
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