Handling banker’s acceptance on an agency basis

Service Description

Handling banker’s acceptance on an agency basis refers to the business, in which CGB, assigned by a banking institution, signs and issues banker’s acceptance products for such institution’s corporate customers through CGB’s advanced RMB settlement system and large amount of branches. Applicant of banker’s acceptance, i.e. the drawer, is the corporation; the accepting bank is CGB; the consigner is another commercial bank.

Features

1.        Through the service, incomes from intermediate products can be won, with considerable inter-bank deposit and service charge income.

2.        Applicable to: shareholding-system commercial banks of certain size, great strength, and good credit standing, especially in a city with CGB outlets but without any outlets of such commercial banks.

Applicable To

Banking institutions except policy-related banks

Handling Procedure

1.        Acceptance of business: The applicant, a banking institution, submits its materials for credit granting and files its business application.

2.        CGB performs internal review of that business application.

3.        The applicant can recommend its customers to CGB upon approval of such application and CGB will sign and issue banker’s acceptance for its customers. Applicant of banker’s acceptance, i.e. the drawer, is the corporation; the accepting bank is CGB; the consigner is another banking institution.