GB/T 39458-2020 in English

Analysis of the core framework of the standard

Technical Analysis of Key Terms

2.5 Acceptance Credit

Definition: A letter of credit that stipulates payment by time bill, in which the issuing bank guarantees to accept the bill of exchange that complies with the documents. Things to note in practice:

• The basis for calculating the discount rate (usually referring to LIBOR)
• The acceptance period is generally not more than 180 days
• "USANCE" must be clearly marked in the SWIFT message

2.43 Certificate of Origin

As the core certificate of tariff preferences, the standard is clear:

Suggestions for the implementation of the standard

1. Document electronic adaptation: When developing EDI messages with reference to standard terminology, it is necessary to match the UN/EDIFACT code set
2. AEO certification connection: The definition of AEO in Article 2.22 should be updated simultaneously with the Customs "Credit Management Measures"
3. Terminology training focus: Distinguish the regulatory differences between "bonded goods" (2.27) and "temporarily imported goods" (2.18)

Technology evolution analysis

This standard is mainly upgraded compared with the 2009 version:

• New digital-related terms such as single window (2.177) and electronic communication recipient (2.3)
• Adjust the proportion of customs regulatory terms from 18% to 32%
• Introduction of AEO certification requirements under the WCO SAFE Framework