With third-party debt repayment service, a third party, for the sake of repaying the borrower's liabilities, authorizes its account-hosting bank to withhold a designated amount of fund from its account in benefit of the creditor bank at sight of the "withhold and transfer" notice from the creditor bank.

Commutation is applicable to all debt proceedings of the borrower from the whole financing process, which includes principal, financing service charge, normal interest for financing, overdue interest and compound interest.

Conditions for Service Application

1)	For those who have opened basic deposit accounts or ordinary deposit account at the China Merchants Bank, the Bank will be mainly responsible for the pertinent settlement process.
2)	The third party repaying the debt needs to lodge adequate fund on their respective accounts for withholding and transferring operations.