1. Personal ship loans must be guaranteed by a ship with clear property rights, and at the same time, the shipping management company to which the ship belongs must provide joint liability guarantee.
2. Performance Bond Insurance Guarantee To purchase performance bond insurance from an insurance company to apply for personal ship loan, the selected insurance company must be approved by the provincial branch (according to the general procedures for project access) and sign the Personal Ship Loan Guarantee Insurance Business Cooperation Agreement with the Bank.
3. The new ship guarantees the personal ship loan for the new ship construction. The guarantee is divided into two stages: the first stage: the phased guarantee during the ship construction; The second stage: guarantee after acceptance and delivery of the ship under construction.
(1) Stage I: According to the management status and level of the maritime department where the secondary branch is located, the staged guarantee handling bank chooses one of the following methods to provide staged guarantee: mortgage of the ship under construction+guarantee of the shipbuilding company; Professional guarantee company guarantee+shipbuilding company guarantee; Professional guarantee company guarantee+shipping company guarantee; Provide real estate or other ship mortgage with a value not less than the loan amount+guaranteed by the shipbuilding company or the shipping company. Choose a professional guarantee company to carry out phased guarantee, and have access to provincial branches.
(2) The second stage: guarantee after acceptance and delivery of the ship under construction. After the ship under construction has passed the acceptance and met the delivery conditions, the handling banks should complete the formal mortgage registration in time, implement the full joint and several liability guarantee affiliated with the shipping management company and other guarantee procedures stipulated by our bank, and then the staged guarantee can be lifted.
4. Buying ships (including first-hand and second-hand) and mortgaging newly-built ships with non-purchased ships/newly-built ships are allowed to mortgage non-purchased ships (or newly-built ships), but the authenticity review of loan purposes should be strengthened, and the examination and approval personnel have the right to supplement relevant certification materials according to the actual situation.
5. The borrower provides the ship under the personal name of a third party as collateral, and only the mortgagor and the borrower are immediate family members such as parents or children.
The above contents are for your reference. Please refer to the actual business regulations.
If you have any questions, please contact online customer service of Bank of China.
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