What is a personal guarantee for studying abroad?
CITIC Industrial Bank is the first domestic commercial bank to launch a personal guarantee for studying abroad. A personal guarantee letter for studying abroad refers to a self-funded study abroad person who deposits a certain amount of U.S. dollars or other freely convertible foreign currencies at CITIC Industrial Bank. On the premise of fully pledging the foreign currency deposit certificate, an application for issuance of the guarantee is submitted by CITIC Industrial Bank. A letter of guarantee officially issued to the outside world.
Scope of application
When you study abroad at your own expense and have received a formal written admission notice from a foreign school but have not yet gone through the visa procedures, you need to pay the tuition fee to the foreign school or have already gone through the visa procedures. When you need to pay part of the tuition to a foreign school, the CITIC Industrial Bank Study Abroad Guarantee will help you.
Business Features
By applying for a letter of guarantee to study abroad, you convert your personal credit into bank credit, which improves the credit level in the study abroad application process and changes the previous personal application for study abroad. Sometimes it is difficult to implement the financial guarantee and the procedures for leaving the country cannot be processed smoothly.
Application instructions
1. Conditions for applicants of letter of guarantee
(1) The applicant is a self-funded student studying abroad;
(2) Application The applicant has obtained an official admission notice from a foreign school;
(3) Applicants need to provide a foreign currency time deposit certificate issued at CITIC Industrial Bank as a full pledge. Acceptable currencies are: US dollars, British pounds , Hong Kong dollars, Euros or the legal currency of the country you want to go to (must be a freely convertible currency).
2. Amount, term and pledge rate of the letter of guarantee
(1) If the term of the letter of guarantee is less than one year (inclusive), the amount of the letter of guarantee shall not exceed the amount specified in the admission notice The amount of tuition fees borne by the applicant; if the term of the letter of guarantee is longer than one year (must not exceed the maximum number of years of study listed in the admission notice), the amount of the letter of guarantee shall not exceed the product of the above tuition fees and the term of the letter of guarantee (in years);
(2) The amount of a single letter of guarantee shall not exceed US$60,000 or its equivalent in other foreign currencies, and the cumulative balance of each applicant’s letter of guarantee shall not exceed US$100,000 or its equivalent in other foreign currencies;
( 3) If the currency of the pledged deposit certificate is consistent with the currency of the guarantee, the cash pledge rate (the ratio of the amount of the guarantee to the face value of the deposit certificate) is 100%, and the cash pledge rate is 95%; if the currency of the pledged deposit certificate is inconsistent with the currency of the guarantee, the pledge rate is 80%;
(4) The applicant can go to the original application site to apply for the extension of the letter of guarantee before the expiration of the letter of guarantee.
3. Validity, revocation and compensation of the letter of guarantee
(1) If the applicant obtains a visa after the letter of guarantee is issued, he/she shall hold the visa within 10 working days from the date of issuance of the visa. Bring copies of the passport and letter of guarantee to the original application site to go through the formalities for the letter of guarantee to become effective;
(2) If the applicant is refused a visa after the letter of guarantee is issued, he can go to the original application site to go through the procedures for revocation of the letter of guarantee with his passport containing the record of visa refusal. ;
(3) The applicant applies for issuance of a letter of guarantee after obtaining the visa, and the letter of guarantee will take effect from the date of issuance;
(4) After the letter of guarantee becomes effective, the applicant can apply to the original application outlet Or the overseas advising bank applies to cancel the letter of guarantee. CITIC Industrial Bank can only handle the cancellation procedures after receiving a written notice from the foreign school agreeing to the cancellation. After the letter of guarantee is revoked, the applicant can get back the pledged deposit certificate;
(5) If the applicant is unable to pay the tuition before the letter of guarantee expires, the foreign school can file a claim with CITIC Industrial Bank, and CITIC Industrial Bank will withdraw the applicant's pledged deposit certificate Make external compensation payments.
4. Applicants for letters of guarantee need to provide the following materials
(1) Official written admission notice from foreign schools;
(2) ID card and household registration book;
(3) Foreign currency deposit certificate for pledge;
(4) If part of the tuition has been paid, a bank transfer receipt for the paid part should be provided;
(5) If a visa has been applied for, a copy of the passport for which the visa has been applied for should be provided;
(6) Fill in the "Certificate Issuance Application Form" and "Certificate Issuance Guarantee";
(7) Pay the relevant fees;
(8) 7 working days after submitting the application, go to the original application site to collect a copy of the letter of guarantee.
5. Relevant fees
(1) Issuance fee: US$100.
(2) If you apply to CITIC Industrial Bank for cancellation after the letter of guarantee becomes effective, you will need to pay a telegraph fee of US$30.
(3) Handling fee for extension of letter of guarantee: USD 20.
(4) Liquidated damages for not notifying the letter of guarantee to take effect after being signed: USD 300.
(5) During the validity period of the letter of guarantee, any fees that may be charged by overseas banks (such as certificate withdrawal fees, claim fees, extension fees, etc.) shall be borne by the applicant.
The above fees, except for the issuance fee, can be charged in equivalent RMB.
The specific charges are subject to the standards announced by the local CITIC Industrial Bank.
For more information on studying abroad, please click on the relevant links
In fact, you should not bring too much luggage when studying abroad, because things purchased in China may not be suitable for use locally; and international students may change schools or other factors , you may move frequently. Students who are new to other places don’t have many friends, so they have to move a lot of things, which is very difficult. On the contrary, money is more practical. It is best to prepare hundreds of dollars in cash for international students so that they can have money when the money order cannot be cashed immediately.
The luggage you need to carry is mainly divided into two categories, one is daily necessities and the other is school supplies. Basically, the things you carry in different countries are the same, with slight adjustments based on the climate and environment of the country you are visiting.
Daily necessities generally include: seasonal coats, socks, single tops, casual shirts, jeans, pajamas, underwear, underwear, leather shoes, sports shoes, slippers, a formal suit, short-sleeved shirts, T-shirts, Sun hats, sunglasses, belts, swimsuits, alarm clocks, batteries, chargers, conversion sockets and transformers, thin quilts, sheets/bed covers, toiletries, nail clippers, razors and emergency medicines. In addition, you can bring digital cameras, digital cameras Items such as cameras and MP3s. If you are renting an apartment by yourself, you will also need to bring simple kitchen supplies.
School supplies generally include: laptop (recommended), floppy disk, burnable CD, various Chinese software, such as: window system disk, word, photoshop? two dozen pencils (2B and HB), eraser, ballpoint pen Several water-based pens (signature pens), colored pens, electronic dictionaries and individual calculators, several folders, large schoolbags, glasses, rulers, small scissors, utility knives, etc.