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> Transfer
> Custody of Fund
> My Custody of Fund
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Custody of funds: A service for the safety of transaction funds for both buyers and sellers as well as intermediary (if any), for making sure the transaction is successful. Click "Service Details" for more information.
My custody of funds: A group of functions for Party A and Party B to check or work on agreements to be confirmed or already in force.
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1. Displayed in the list of custody agreements to be confirmed are those initiated by Party A or pending confirmation from Party B. Pending agreements will come into force once confirmed by Party B.
2. Once the custody agreement in force, ICBC will generate the custody sub-A/C for Party A and Party B. Area of the custody sub-A/C is same as the area of the initial receiving A/C No. assigned by Party B.
3. "Transfer To" allow Party A to transfer funds from own payment A/C No. to custody sub-A/C. "Transfer From" allow Party A to transfer funds from custody sub-A/C to Party B's A/C. "Refund" allow Party B to return the amount in custody sub-A/C to Party A's A/C in full.
4. "Check details" allow both parties of A & B to look up details of transactions related to custody sub-A/C. "Balance Enquiry" allow both parties of A & B to look up the balance in the custody sub-A/C.
5. "Update A/C No." allow Party A to update own payment A/C No. and Party B to update own receiving A/C number which, after update should be in the same area of the initial assigned receiving A/C No.
6. "Suspend/Recover" allow Party A to suspend/recover all the schedule transfers, transfers To/From and the updates on A/C No. Once suspended, Party B cannot refund or update A/C No. "Terminate" allow Party B to terminate the agreement and close the account when the balance in custody sub-A/C is zero.
7. All terminated agreements will be automatically transferred to "Check History Agreement" one month later. |
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