Analysis on Demands of Cash Management ● The client requires every franchise store leasing the store to sets up a special rent account, and deposit the rent in the special account in advance weekly from operating incomes in terms of certain proportion Under the premise of agreements of those franchise stores and XX Law Firm on the implementation of the agreements all funds of the special accounts can be transferred to XX Law Firm at the end of every month in one time. ● The client requires the selling incomes of the direct distributors to be transferred to XX Law Firm per day after deduction of necessary daily expenses. ● The client requires the franchise stores automatically to transfer the franchising fees to the account appointed by XX Law Firm. ● The client needs to know and monitor the fund operation conditions of the franchise stores and direct distributors fully as well as obtain the check information of the accounts of all stores.
Cash Management Solution
In accordance with the demand of the management of company on the franchise stores' rents, the franchise stores can open special rent accounts in their banks and the accounts are only used in the payment of the weekly rents and have no other expense except paying the rents to the Law Firm monthly. At the end of the month, the franchise stores will issue the "Transfer Affirmation Letter" affirmed by the franchise stores and the Law Firm to their banks. After approval, the banks will transfer the rents to the special rent account of the Law Firm, meanwhile, the banks will transmit the information that rents have entered into the account to the Law Firm.
In accordance with the demand of the company on the fund collection management of the direct distributors, the direct distributors can open basic deposit accounts in the bank for the daily settlement of the payment and collection. Meanwhile, the accounts opened by the direct distributors can be set as the branch accounts of the internet banking system, whereby the Law Firm can collect all funds through corporate internet banking every day.
In accordance with the demand of the company on the commission collection of the franchise fees, every franchiser can pay the franchise fees to the appointed account with the method of intra-city deposit or trans-city deposit through ICBC's outlets. The branches must record franchiser and other relative information when handling the payment; after checked the information of the franchise fee payments of the franchisees that were recorded by the handling banks and the information of the franchise fees receivable that was offered by the Law Firm, the bank in where the franchise fees accounts were opened feeds back the practical payment conditions to the Law Firm and assists the Law Firm to manage the payments of the franchise stores.|
Aim at the demand of the company on the fund operation monitor on the franchise stores and direct distributors, the company can open the Corporate Internet Banking business, and include its franchise stores and direct distributors as its branches in the Internet Banking system. ICBC issues Internet Banking client certificate for the client so that the company can directly enquire and monitor the fund operation conditions of franchise stores and direct distributors through Internet Banking, and download the account-checking information of the stores anytime if required.