I. Overview Bill Winner is a package of services in ICBC bill custody system like bill custody, agency verification, bill certification, agency transfer, agency enquiry, agency collection and other agency services. It can be conducted together with bill financing services to meet diversified demands of customers. Functions: i. Bill custody ICBC monitors the risk and classifies the bills entrusted by the customer. It is responsible for managing the bill assets in a centralized manner, monitoring their status in a real-time manner through IT system and feeding back the bill information to the customer, providing back-office support for easy management ii. Agency verification ICBC checks the authenticity and compliance of bills and transaction documents submitted by the customer and objectively evaluates bills, improving the operation management of bill assets. iii. Bill certification ICBC verifies the authenticity of physical bills and compliance of documentary transaction files and issues the certificate to enhance the credibility of bills, reduce bill verification risk and improve credibility and liquidity of bill delivery and assignment. iv. Agency transfer ICBC transfers the bill as entrusted by the customer to the headquarters of the customer or designated subsidiaries in a secure and complete manner within a stated period. In this way, the principal can perform the centralized management of bills with better remote control. v. Agency enquiry ICBC applies for enquiry on bank acceptance draft from the acceptance bank as entrusted by the customer and feeds back the result to the customer so that he can mitigate the potential risk of holding bills. vi. Commission collection ICBC manages the bills receivable and urges the collection of matured bill amount through dynamic monitoring and real-time follow-up to cut down the final-period management cost of bills receivable, remove the collection stress and improve the management of stock bills for the customer. vii. Trading agency ICBC provides inquiries and offers and matches transactions on behalf of the customer. The customer can enjoy wider trading range, lower risks of bill transfer, convenient transactions and optimal transaction prices and benefit.
II. Target Customers Financial institutions and corporate customers like commercial banks and financial companies.
III. Features and Advantages i. Flexible and diversified service package based on the business features of the customer; ii. Combines service product and bill financing function, covering all links of bill service and providing all-round management service and back-office support to help the customer manage full life cycle of bill. iii. Flexible combination of Bill Winner services can reduce the human, financial and physical input and management cost.
V. Required Documents i. The customer should sign the master agreement of Bill Winner service with ICBC and offer the information of customer and authorized handler to apply for Bill Winner service; ii. The customer can sign sub-agreements for different services with ICBC, including the Commercial Draft Custody Service Agreement, the Commercial Draft Authentication Service Agreement, the Verification and Certification Service Agreement of Commercial Draft and Transaction Documents, the Agency Transfer Service Agreement of Commercial Draft, the Commission Collection Service Agreement of Commercial Draft and the Agency Trading Service Agreement of Commercial Draft. iii. The customer has to submit the physical bill, list and relevant business materials to ICBC. The customer applying for agency enquiry has to fill in the bill enquiry form and provide the copy of both sides of bill.
Note: The information provided on this page is for reference only. Concrete business shall be subject to the announcement and provisions of the local outlet.