An enterprise within the territory of the People’s Republic of China and registered with the domestic customs authorities shall be the Policy Holder of this Insurance Contract.
The Customs of the People’s Republic of China are the Insured in this Insurance Contract herein.
If the Policy Holder fails to pay the Customs Duty which is involved in the entry goods within the time limit set by the customs authorities, and the Insured file a claim for compensation to the Insurer, the Insurer shall compensate the Insured for the agreed tax payable and any fines for delaying payment.
The Customs Duties include, but are not limited to, the import tax, the import related value-added tax, the import related consumption tax, the anti-dumping duty, the anti-subsidy duty, the waste electrical and electronic products processing funds, the interest on tax postponed, etc.