1. These Directions are established to facilitate the reporting of private enterprises' medium- and long- term external debts statistics for compilation of the Balance of Payments provide reference for compilation of the B alance of International P ayments and facilitate statistical trackin of private enterprises' medium and long term external debts by the Central Bank of China (hereinafter referred to as “the Bank”).
   
2. Private enterprises may simplify their foreign exchange settlement procedures in accordance with these Directions when reporting declaring medium- and long-term external debts.
   
3. The term “medium- and long-term external debts of private enterprises” shall refer to the following foreign currency debts with maturity repayment term over one year of private enterprises that are duly established and registered within the territory of the Republic of China:
   (1) Borrowings from foreign financial institutions ( excluding the including their offshore banking units inside the Republic of China) ； .
   (2) Buyer’s credit ； .
   (3) Loans from parent companies abroad ； .
   (4) Corporate bonds i ssued abroad ； and External.
   (5) Other foreign currency debts.
   
4. Private enterprises shall, within 15 days after signing a contract for obtaining securing foreign currency debts specified in Direction 3 Article 3 herein, fill out the “Top Form” of the “Statement of Medium- and Long-Term External Foreign Debts by Private Enterprises”, and submit it together with relevant documents to the Department of Foreign Exchange of the th is Bank (hereinafter referred to as “the Department”) to for declare ing the contract value and receiv e ing a debt serial number. For the subsequent inward remittance s of disbursement s of fund and outward remittance s of repayment s of principal and interest payment s, the said enterprises shall indicate the debt serial number on “Declaration Statement of Foreign Exchange Receipt s and Disbursement s or Transaction s ” , if the transaction involves the conversion into or from New Taiwan dollar. (A sample s Statement of Medium- and Long- Term External Debts by Private En terprises sample is attached.)
   
   Private enterprises that have declared the contract value according to the provisions in the preceding Paragraph and have disbursed principal shall, before the 10th day of the month following the end of each quarter, fill out the “Bottom Form” of the “Statement of Medium- and Long-Term External Debts Foreign Debts by Private Enterprises” and submit it to the Department to report the outstanding balance of its medium- and long-term external debts.
   
5. When filling out “ Statement of Medium- and Long-Term External Debts by Private Enterprises” , private enterprises shall separate the creditors into different fill out the categories of external debt in accordance with Direction Article 3 this Regulations.
   
6. The medium- and long-term external debts shall be declared according to by the actual currency of the fund obtained secured. 
   
7. If a private enterprise has received the Department's special permission in a specific case to acquire funds from foreign financial institutions and for conver t the funds sion into New Taiwan dollar for medium- and long-term investment use in Taiwan, the amount of foreign exchange purchased and sold in connection with as loan the principal and for the repayment of principal and payments of with interest shall not be count ed toward towards the enterprise's annual free foreign exchange aggregate settlement amount. The authorized bank may proceed with the exchange settlement on the basis of the “Schedule of Drawing and Repayment of Medium- and Long-Term Loans from Overseas Financial Institutions by Private Enterprises” that bears the seal of the Department.
   
8. The amount of foreign exchange purchased and sold by a private enterprise in connection with the acquisition of funds and for repayment of principal and payments of with interest shall be in all cases first count ed toward towards the enterprise's annual free foreign exchange settlement aggregate amount when the enterprise has acquired medium- and long-term funds from foreign sources and has made reported declaration the funds pursuant to the provisions herein. The enterprise is not required to apply for permission from the Department, however, for the purchase of foreign exchange for repayment of principal and payments of with interest after its quota has been used up. In that case the authorized bank shall proceed with to receive and conduct the settlement on the basis of the “Statement of Medium- and Long-Term External Foreig Debts by Private Enterprises” that bears the seal of the Department.

Attachment: Statement of Medium- and Long-Term External Debts by Private Enterprises

(Remarks:These Directions are made in Chinese which shall prevail in case of any discrepancy between the English translation and the Chinese original.)