境内机构对外担保管理办法 Administration of the Provision of Security to Foreign Entities by Domestic Institution

　　3. upon the provision of security to foreign entities， the Security Provider shall perform its obligations as laid down in the security contract during the effective term of the principal contract for which security is provided for. Upon the performance by the Security Provider of its obligations， the Security Provider shall be entitled to claim indemnification from the Secured Party；

　　4. after the provision of security， the Security Provider shall be discharged automatically from its obligations in the event of the Creditor defaulting in the performance of its obligations under the loan contract during the term of the security contract；

　　5. the Security Provider shall be entitled to require the Secured Party to perform or implement the terms and conditions of the counter-indemnity given by the Secured Party or to provide corresponding property for mortgage to the Security Provider；

　　6. the Security Provider shall be entitled to charge the agreed security fees.

　　Article 14　Upon provision of security to foreign entities， the Security Provider shall handle procedures for the registration of the provision of security to foreign entities at the local SAEC.

　　A non-financial institution shall， upon provision of security to foreign entities， complete an “External Security Registration Form” at the local SAEC within 15 days upon conclusion of the security contract， collect an “External Security Registration Certificate”。 The necessary amount of foreign exchange required for the performance of the security contract shall be paid or remitted after approval or verification is granted by the local SAEC， and the amount so remitted shall be deducted from the security and debt balances.

　　A financial institution shall carry out periodic registration on a monthly basis and， within the first 15 days of each month， complete an “External Security Feedback Form” to report on the amount and particulars of the debt for which it has provided security in the previous month.

　　Article 15　When an extension is required upon the expiry of any security term， the Security Party shall，

30 days prior to the maturity of the indebtedness， handle procedures for such extension with the local SAEC， which shall effect examination and approval within its terms of reference as set out in Article 10 hereof.

　　Article 16　Where a Security Party is a non-financial institution， it shall， within 15 days after the maturity of the indebtedness secured by the security contract and the complete satisfaction of the security obligations， or the occurrence of other relevant circumstances leading to termination of the security contract， return the “External Security Registration Certificate” to the original issuing SAEC for the cancellation of the registration. Financial institutions shall handle such cancellation procedures on a monthly basis.

　　Article 17　Any external security provided by a Security Party without the required approval shall render the relevant security contract null and void.

　　Should a Security Party provide any external security without approval or should it fail to handle procedures for registration after providing an external security， SAEC shall， in the light of actual circumstances， give a warning， circulate a notice of criticism， suspend or cancel the business operation of the Security Party for the provision of external security.

　　Article 18　These Procedures shall be applicable to the provision of external counter-indemnities.

　　Article 19　These Procedures shall be effective as of 1 October 1996； and the Administration of Domestic Organizations Providing Foreign Exchange Guarantees to Foreign Entities Procedures， promulgated on the 26 September 1991 shall be repealed at the same time. The State Administration of Exchange Control shall be responsible for the interpretation of these Procedures

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