Read the untranslated law here: http://www.chinalaw.gov.cn/article/fgkd/xfg/dfzfgz/201303/20130300385524.shtml
Changchun pre-sale funding measures on the supervision and
(November 15, 2012 Changchun Municipal People's Government at the 55th Executive meeting November 15, 2012 and Changchun Municipal People's Government promulgated as of January 1, 2013, 41st) first to strengthen the capital management of real estate sale and pre-sale transactions between the lawful rights and interests of maintaining, in accordance with the regulations on urban real estate development and management, Changchun City, combined with the city's actual, these measures are formulated.
Article on State-owned land in the urban planning area of this municipality has made the construction project of the pre-sale permit, the deposit of funds, use of real estate sale and supervision, these measures shall apply.
Article presale funds mentioned in these measures refers to real estate development enterprises (hereinafter enterprise) has been made of the pre-sale of licenses of commercial housing sold to buyer, buyer shall pay the purchase.
Fourth City real estate, pre-sale, departments are responsible for the supervision and administration of funds.
Real estate development and management authority (hereinafter authority) is responsible for the day-to-day management of pre-paid funds.
Article fifth Fund supervision and management of real estate sale, follow the Special Fund accounts, the Fund designed to save, the principle of earmarking, the use of full full supervision and management.
Sixth development enterprises in the application of the real estate sale of permits, in advance of pre-paid funds banking supervision should be identified.
Enterprises shall, in accordance with a licence application corresponds to a principle of accounts, set up special accounts in banking supervision (hereinafter supervision account), and management institutions, banking supervision signed a pre-paid funds tripartite agreement.
Article seventh before the development of enterprises in the application of the pre-sale permit, should be clear in advance programme advance Fund supervision of the following:
(A) the construction cost of the project;
(B) the project plan;
(C) the selected banks, and submitted to the pre-paid funds tripartite agreement;
(D) monitoring account name and account number;
(E) other circumstances involved.
Article eighth City real estate Department at the time of publication of the pre-sale permit, supervision should be released account.
Nineth having developed an enterprise obtains the pre-sale permit, should regulatory accounts be publicized at the sale site. Article tenth buyer at the time of purchase the pre-sale, purchase should be directly deposited in the regulatory accounts.
Development enterprises based on banking supervision provided by the buyer for which receipts issued by the House Bill.
Developers may not directly receive pre-sale funding.
11th presale funds should be used for the construction of the housing project.
12th enterprises shall, in accordance with the progress of the construction of the housing project, staging applications using pre-paid funds:
(A) the following progress of engineering construction, total funds available in pre-sale 30%:
1, three-tier (including three layers), to complete the Foundation and structural works;
2, four or more layers (including four-layer) of a basement, complete the Foundation and the first floor structure works; no basement, complete the Foundation and four-layer structure.
(B) reach main structure of one-second, 50% of the total funds available in pre-sale;
(C) reach the main Cap structure, can be used in total funding of real estate sale 70%;
(Iv) engineering quality acceptance, can be used in total funding of real estate sale 90%;
(E) the pre-sale upon completion of the initial registration, you can use the remaining real estate sale and pre-sale funding all the interest.
13th when you are developing enterprise applications using the pre-paid funds, shall submit to the authority of the following information:
(A) the advance sale of commercial housing funding applications;
(B) the verification manual on real estate development projects;
(C) the construction schedule construction certificate issued by the supervisor.
Completed commercial housing construction quality acceptance and initial registration shall submit its evidence. 14th administrative organ shall from the date of receiving the application for development enterprise use of pre-paid funds is approved within three working days. Meet the requirements, issue a consent to use show that, banks paid accordingly.
Does not meet the criteria, are not approved, and to state the reason in writing.
15th buyer check out agreements with the enterprise and check in check, enterprises should in the management body for disarmament within two working days to check out House of supervision.
Management should receive a lift to leave the House within three working days from the date of the application to verify, and notify the banks lifted the check out section part of the regulation.
16th enterprise use of the pre-paid funds should be credited to the manual on real estate development projects in a timely manner, and to the management body on a regular basis for the record.
17th article violates these rules, companies receive pre-sale funding directly, by the Department of real estate a rectification, it fails to mend, enterprises engaged in pause the development planned urban area in this city of all development projects within pre-sale will be publicized violations, and credited to the credit file.
18th article violates these rules, developing enterprises does not require the use of pre-paid funds, by the Department of real estate a rectification and illegal gains shall be punishable by three times but not more than 30,000 yuan fine.
19th banking supervision in violation of the rules or breach of the Fund supervision of real estate sale agreement, arbitrarily allocated funding of real estate sale, bear the corresponding legal responsibility.
20th City real estate departments and their management staff in the advance sale of commercial housing in the supervision and administration of financial abuse, malpractice, neglect their duties, shall be subject to punishment constitutes a crime, criminal responsibility shall be investigated according to law. 21st article this way come into force on January 1, 2013.
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