State Administration of Foreign Exchange, Question Concerning Advance Purchase of Foreign Exchange for Guarantee Deposits under Letters of Credit/Letters of Guarantee Official Reply

国家外汇管理局关于信用证∕保函项下保证金提前购汇问题的批复

September 02, 2001 | BY

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Issued: March 27 2001Effective: upon receipt of the Official ReplyMain contents: The Official Reply stipulates that domestic organizations can pay guarantee…

Clp Reference: 3520/01.03.27 Promulgated: 2001-03-27

Issued: March 27 2001
Effective: upon receipt of the Official Reply

Main contents: The Official Reply stipulates that domestic organizations can pay guarantee deposits under letters of credit or letters of guarantee to designated foreign exchange banks out of their Renminbi accounts or foreign exchange accounts and they may not purchase foreign exchange to pay the deposits.
Related legislation: PRC, Foreign Exchange Control Regulations (2nd Revision), Aug 5 2008, CLP 2008 No.8 p77

clp reference:3520/01.03.27promulgated:2001-03-27

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