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Custody Service for Bills

I. Business Overview
In 2013, ICBC became the first in the banking industry to offer custody services for bill assets. By leveraging on the bill asset custody system developed independently on its own, ICBC accepts the consignment from banks or nonbanking financial institutions to provide them with comprehensive services including physical bill under custody, ownership registration, clearing, ownership changes, information inquiry, agency bill examination, and agency collection. In addition to the above basic services, the Bank can offer value-added services such as open offers and matchmaking trading, according to customer’s demands.

II. Target Customers
Banks or nonbanking financial institutions

III. Scope of Services
1. Account Service
i. Bill examination: customers can commission the Bank to offer custody service for their legal bills. The Bank will examine the formality and compliance of the bills under custody, carry out objective evaluation on the quality of bills and classify them by grading, assist customers in recognizing bill risk to improve safety and integrity environment in the bill market.
ii. Bill safekeeping: bills qualified for the Bank’s custody standards after examinations will be allowed to be deposited with the Bank. After recording ownership of the customer’s bills via the bill asset custody system, the Bank will transform information of paper bills electronically and put the paper bills in storage for collective custody. The Bank can manage the bills via systems, monitor bill situation in real time, and carry out track management of bills in storage.
iii. Bill transactions: after reaching intentions for transactions between customers, they can complete changes in ownership of bills under custody and finish capital clearing by the Bank’s bill asset custody system.
iv. Supervision on investment: the Bank can supervise and verify capital accounts and bill accounts of the bill buyer and seller, to ensure sufficient funds, prevent short purchases and short selling and guarantee funds safety of the two sides.
v. information inquiry: customers can inquire information of bills/funds under custody via Internet banking.
vi. Agency collection: entrusted by the customer, the Bank can collect matured bills under custody and transfer collection funds to the settlement account designated by owner of the bills.
vii. Custody report: customers can download annual custody reports via Internet banking.
2. Value-added Service
Quotation and matchmaking: the Bank can provide customers with value-added service, like electronic quotations and matchmaking. Based on their own demands, the customers can carry out open quotations in the one-to-one form.

IV. Business Guide
Customers who have demands for service of custody asset investment on wealth management products can contact the Asset Custody Department of the Head Office or local branches of ICBC, and sign custody agreements.

V. Contact Information
If you would like to apply for any service, please contact the Entrusted Asset Division II of Asset Custody Department of ICBC.
Contact person(s): Duan Wenkai, Guo Yuting
Tel: (8610)5690/5762
Fax: (8610)66105761
E-MAIL: duanwkzctg@icbc.com.cn