1 Letter of Guarantee in RMB

Letter of Guarantee is a written guarantee of payment that CEB, upon request of a party of a transaction (or under a trade or of contract or economic relations), makes for bearing a certain sum of payment or economic compensation liabilities within a certain period in order to guarantee to the other party the performance of the duties or obligations under such transaction.

2 Domestic letter of credit

Domestic Letter of Credit means the payment commitment that the issuing bank makes according to the application of the applicant for the payment of bill under the terms of such letter of credit.

3 Domestic factoring

Domestic Factoring means that CEB, as the factor, enters into the factoring agreement with the seller, under which the seller assigns to the former the present or future account receivable arising from the sales/service contract made between itself and the buyer, and CEB shall provide the seller with comprehensive financial services. Such services include at least one of the following items: trade financing, sales ledger management, collection of funds on account and guarantee of bad debts.

4 National one-counter link

In order to reduce the time of funds on cycle, enhance its service efficiency and provide a brand new settlement method that is highly effective, quick, simple and safe, CEB introduces a more well-established national one-counter link service. This service breaks the time and space limit of corporate settlement, and realizes real time settlement nationwide. As account holders at any of the outlets of CEB, one can make the settlement to or receive fund from any other outlet, which maximizes the service efficiency of funds.

5 Direct payment as agent of the central government

Direct payment as agent of central government means that CEB, as the agent bank, directly pays the financial funds to the account of the collector or fund user through the zero balance account opened with the latter by the Ministry of Finance in accordance with Certificate of Direct Payment for Financial Funds issued by its financial department.

6 Authorized payment as agent of the central government

Authorized payment as agent of the central government means that CEB, as the agent bank, pays the financial funds to the account of the collector or fund user through the zero balance account for budgetary unit opened with the latter by the Ministry of Finance (MOF) for budgetary units within the fund-using line approved by the MOF in accordance with Certificate of Direct Payment for Financial Funds issued by its financial department.