Revolving Guarantee for Import Duty Payment
A guarantee facility for import duty payment pursuant to the Duty Drawback under Section 19 Bis Scheme, available in the form of a revolving guarantee provided by EXIM Thailand online to the Customs Department against exporters’ import duty payment.
Principles of Revolving Guarantee Service
1. Exporters simply file a one-time application for revolving guarantee line which entitles them to multiple uses for import of raw materials.
2. The outstanding guarantee amount is reduced after every import transaction.
3. On every export, exporters can request an instant duty refund from the Customs Department without having to wait until the import value is filled up.
4. After approving a duty refund, the Customs Department will reduce the Bank’s guarantee amount and increase the available credit for exporters who can then use it immediately.
Procedures with EXIM Thailand
1. Exporters apply for a revolving guarantee line from the Bank and, after the guarantee line is approved, the Bank will set a credit limit online via a computerized system linking it to the Customs Department.
2. Exporters apply for approval in principle for duty drawback from the Customs Department.
3. When importing goods (for export manufacturers), exporters are to sign in and submit a guarantee request form (provided by the Bank) together with documents such as import declaration, invoice, etc.
4. The Bank sets a guarantee line as per the guarantee request form received from exporters and forwards the information online to the Customs Department.
5. After the Customs Department receives details about the guarantee, exporters can proceed with custom clearance procedures.
6. Exporters produce and export goods by following the custom procedures.
7. Exporters make a claim to the Customs Department for duty drawback.
8. The Customs Department verifies all details and records the duty drawback information and then reduces the Bank’s guarantee obligation by the amount of tax refund obtainable by exporters, while at the same time increasing the available credit line for exporters.
9. Exporters can immediately use the revolving line additionally received from the reduced guarantee amount as in Clause 8.
1. Exporters can collect their imported goods and claim a duty refund faster and more conveniently due to the reduced customs procedures.
2. Exporters can receive a duty refund more quickly and can gradually refund the duty by filing a duty drawback claim after every export transaction.
3. Exporters are able to save costs and guarantee fees since the Bank charges a guarantee fee based on guarantee for each import transaction.
4. Exporters have greater financial liquidity as this is a revolving line.
Fee Rate and Collection
The Bank collects a fee at 1.50% per annum or a minimum of Baht 300 on the outstanding guarantee line every six months
>Download Relevant Documents
Guarantee Request Form (Revolving Guarantee System: RGS)
For further information, please contact