First "SCO·Bank Customs Pass" Customs Guarantee Business Successfully Landed at SCODA

Through institutional innovation, SCODA continued to improve the trade facilitation level. On November 1, the first "SCO·Bank Customs Pass" customs guarantee business was successfully landed at SCODA, which brought customs clearance facilitation service of "clearance before payment, collective taxation" to the enterprises.

Recently, Qingdao Huana Foods Co., Ltd. declared a batch of imported peanuts with a value of 178,000 USD. It took less than two minutes to clear customs. As an importer with a good credit record, Huana Foods enjoyed the convenience of clearance before taxation with the tariff guarantee from the bank to the customs. And they can pay for the tariff in the second month in a consolidated manner instead of paying every month by a certain percentage.

"SCO•Bank Customs Pass" tariff guarantee business is initiated by Qingdao Customs and Qingdao Rural Commercial Bank. The customs and the Administrative Committee of SCODA select the import companies with healthy credit from all the companies registered within the jurisdiction of Jiaozhou Customs to be listed on the "white list". Those companies could enjoy the convenient customs clearance service of "clearance before payment and consolidated taxation". The whole process requires "zero service charge, zero guarantee fee and zero security deposit". The highest line of credit for one company could reach 10 million yuan.

Mu Liming, President of Jiaozhou Branch of Qingdao Rural Commercial Bank introduced that, currently, they have extended credit to 32 companies listed on the "white list" for their good credit, with the total line of credit up to 100 million yuan. Meanwhile, the line of credit could be adjusted according to the operation of the company.