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  Home Page > E-banking >Corporate E-banking Service >Settlement Service >Corresponding Bank Service >Agency Bill Issuing
Agency Bill Issuing
 

I. Introduction 
Agency Bill Issuing is a service that other banks (principal bank) use ICBC's bank drafts, special money order seal and special equipment to issue ICBC bank drafts for their corporate or personal clients, and ICBC offices conducting remittance business will cash the bank drafts. Available functions include recording of fund transfer, inquiry on fund transfer and batch fund transfer.

II. Target Client
Banks which need agency services of payment and settlement.

III. Features
1. Simple application procedures  
The bank client need only sign the Payment and Settlement Agency Agreement with ICBC and register for Internet banking to enjoy the agency services of payment and settlement and the convenience which ICBC provides with an advanced electronic settlement network and efficient operations.
2. Low control risk
Online issuing of bank drafts uses the test key for authorization of client orders. The test key will be engendered by the system, thus ICBC no longer needs to provide test key engendering equipments to its bank clients, either does it need to manage usage and storage of the equipments and organize employees to compose test keys, which not only greatly reduces the working load and costs, but also the risks in inner control.
3. Fast business processing
With the agency services of bank draft issuing by ICBC, the bank client can send information about the money order to ICBC through ICBC Internet banking, directly engender bank drafts within the ICBC system; at the same time, fund transfer is also completed, which greatly increases the speed of business processing.

IV. Application Condition
Registered clients of ICBC Internet banking who have adequate settlement guarantee fund in their settlement accounts at ICBC.

V. Sign up
1. For qualified banks, ICBC shall sign the agency agreements with them to establish their relationship as principal and agency, such as the Bank Draft Issuing Agency Agreement and the Other Payment and Settlement Service Agency Agreement. For banks who apply for opening of online payment and settlement services, the client shall present proof documents including the Payment and Settlement Service Agency Agreement already sighed with ICBC.
2. The bank client shall submit all application materials to ICBC, which will be examined and verified by ICBC. ICBC shall reply within two weeks after receiving the application form; and the bank branch as agency shall complete necessary procedures to open Internet banking for any bank whose application is approved.

Ⅵ. Service Channel and Time
The Corporate Internet Banking Certificate Edition provides 7×24 non-stop services.

Ⅶ. Considerations
1. To ensure that the agency services of online payment and settlement are conducted appropriately, all banks must act in strict accordance with the Measures for the Agency of Payment and Settlement Business issued by People's Bank.   
2. At present such functions as invalidation, return and loss report of bank drafts have not be activated. The bank client can conduct such business over the counter in accordance with the agency agreement signed with ICBC.

Responsibility Statement: The contents on this page are for reference only. The ultimate power of interpretation is under the Industrial and Commercial Bank of China Limited. For part of the contents, notice and specific regulations of local branches shall prevail.


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