Article 1 Definition

In this contract, unless otherwise expressly agreed in this context, the following terms shall have the following meanings:

"General Credit", the credit given by the provider of credit to the applicant involving the following more than one credit variety: RMB or foreign currency circulating funds loans, export tax rebate account pledge loans, opening bank acceptance order, opening import letters of credit, packing credit, inward documentary bills, inward collection financing, import outward remittance financing, outward documentary bills, export invoice financing, export collection financing, opening security letters or other credit varieties authorized by the provider of credit.

"General credit limit" refers to the maximum of credit balance hereunder given by the provider of credit to the applicant.

 
“Classified limit" refers to the maximum of a certain type of credit balance given by the provider of credit to the applicant.

 

"Credit balance" refers to all of the debt and the principal sum incurred to the applicant due to the usage of the credit limit hereunder have not yet been paid off to the provider of credit; wherein, under the terms of opening bank acceptance order/ letters of credit / security letter, it refers to sum of the following two values: the sum of the value of valid bank acceptance bill of exchange / letter of credit / security letter which have been opened by the provider of credit according to this contract, and the sum of the value which has been advanced by the provider of credit when opening bank acceptance order/ credit letter / security letter according to this contract and have not been paid off by the applicant.

"Classified credit balance" refers to all the debt and the principal sum incurred to the applicant due to the usage of a certain type of limit hereunder have not been paid off yet.

 

"Balance of limit" refers to the value which is generated when general credit limit is deducted by credit balance.

"Classified limit balance" refers to the value which is generated when classified limit is deducted by classified credit balance.

"Credit period" refers to the deadline provided by the provider of credit under this contract to the applicant,