1. Account management: to offer standard and personalized account information and account management services for decision-makings of funds management of enterprises. (1) Information service A. Basic account checking information service: end-day statement, balance report, day reporting and debit or credit notice B. Comprehensive account report: offering information of multiple banking accounts in unified time, format and method C. Cash management report: comprehensive analysis reports of multiple information including financial asset and liability, asset flow analysis, settlement tool analysis, comprehensive wealth management analysis, financial asset prediction, financial risk early warning, and comprehensive deposit-loan analysis D. International standard information service: offering account information according to the SWIFT general information standards (2) Account manager A. Separate account management: under the same master account, separate management of current, fixed-time, notice or agreement deposits in different sub-accounts; B. Multi-layered management: building a multi-layered account system under the master account in ways of master account, sub-book and sub-account.
2. Collection and payment management: to offer various collection and payment tools for enterprises to efficiently manage their collection and payment. (1) Collection manager A. Increasing efficiency of collection account checking: offering funds collection detailed statements distinguished by the payment counterparty to the payee to enhance efficiency of receivables checking for the payee. B. Customized collection information. The payee can define payer name or code information freely and the collection statement will show customized payer name or code so as to easily distinguish. C. Supporting collection via all channels. The payer can pay funds to the account designated by the payee via channels such as outlet counter, corporate Internet banking, self-service terminal, and POS, and the funds will reach the payee’s account in real time. (2) Funds control: A. Directional collection and payment. It helps customers control flow direction of the account funds. It can limit the practice of account funds of the customer only going to designated higher account or account funds only coming from the designated higher account. The two can also be used together to manage account funds for the customer. B. Payment control. When the customer requires payment quota control on designated account or the designated account portfolio, the Bank can offer payment control service including top limit of the single payment, limit of intraday accumulated payment and limit of periodical accumulated amount, based on the customer’s instruction. The control period can be set flexibly. C. Payment supervision. According to the agreed approval instruction or pre-set supervision standards, the Bank can carry out payment control management and supervision reporting of settlement account funds of the unit under scrutiny. (3) Centralized payment A. Payment one-point access The customer can submit instruction of the centralized payment via any channels of the Bank such as counter, domestic/overseas agency business terminals, SWIFT (FILEACT/FIN), and Internet banking of cooperative banks, to operate payment of the accounts of ICBC and cash management cooperative banks. B. Supporting multiple instructions. The centralized payment instruction submitted by the customer supports operations including ICBC/other bank, RMB/foreign currency, local/remote, and domestic and overseas and also supports payment in real time, or in batches or booking payment. Payment instructions of all types can be submitted in one file, which is simple to operate. C. Supporting multiple currencies. Apart from RMB instruction, the centralized payment instructions sent by the customer via multiple channels also support handling of FX remittance, including RMB paying for foreign currency bills, foreign currency paying for RMB bills, and foreign currency paying for bills of another foreign currency. D. Offering bill service. The customer can send application instructions of the bank draft, foreign bill, domestic letter of credit and international letter of credit via the centralized payment instruction to the Bank. After its review and approval, the Bank will issue the bills to be delivered to the customer via mail or taken away by the customer.
3. Liquidity management service: to make overall plans for allocations of internal funds or positions to realize internal sharing. (1) Fund pool A. Based on the customer’s organizational structure, it helps the customer concentrate the funds to the headquarters or designated institution layer upon layer. It supports account architecture of nine levels at most set by the customer. B. According to the customer’s financial management requirements and liquidity requirement, the Bank can set personalized funds collection, allocation to lower level, and internal adjustment. Sweep and cover: real-time, timing or temporary sweep and cover are available. Periods of the sweep and cover include day, week or month and customers can choose any day in the period with more than 20 time points for “sweep and cover” every day. Internal adjustment: methods such as joint payment, intraday overdraft and quota sharing are available for internal adjustment C. As for pricing for member units in the funds pool, the internal interest is recorded and agency bookkeeping is realized. D. Offering rich and complete funds pool information service including complete statements and timely account checking, to fully meet enterprises’ demands for mastering the funds pool information. (2) Bill pool A. Helping the customer collect and sort out bill information to make it easy for the customer (especially the group customer with multiple branches) to master information of the bill assets it held. B. Offering bill inquire, and bill authentication services to help customer identify risk bills. C. Helping customers take care of the physical bills to reduce their safekeeping risk and cost. D. Offering bill pledge service to help enterprises vitalize balance bills and obtain the Bank’s liquidity support (enterprise active liability) by handling credit business such as new bill issuing and working capital loan through the guarantee amount created by the bill pledge. E. Forming revolving guarantees of bill assets to realize flexible allocation of the balance bill assets and active liability in the duration and amount. For example, transforming the short-term bill assets into long-term liability, and low-value bill assets into high-value liability. F. Forming collective guarantees among group customers to realize flexible flow of the bill asset among member units of the group and enhance asset use efficiency of the group customer on the whole. According to the internal negotiated price inside the group customer, the Bank can calculate balance units and offer guarantees for other by the bill asset so as to gain income. (3) Corporate account overdraft The corporate account overdraft is short-term liquidity support offered by the Bank to the customers. When the funds in a customer’s account run short temporarily, ICBC can provide the corporate account overdraft service within its ratified overdraft limit. Amount of the corporate account overdraft is fixed annually with the valid period less than one year at most and interest will be accrued and calculated from the day of the overdraft agreement coming into force. The overdraft amount can be used revolvingly within the valid period.
4. Short-term investment management: offering standard and personalized value-added products, like banking wealth management to help enterprises maximize liquidity and earnings. (1) Cash management exclusive wealth management product To customize short-term wealth management products especially for cash management customers and only sold exclusively to the cash management customers, with the yields higher than ordinary wealth management products, which can offer yields from funds management. (2) Automatic investment arrangements According to predicted results based on customer’s cash flow or the pre-set end-day account reserved balance, the Bank can automatically transform surplus funds into fixed-time (notice) deposits or agreement deposits to help customers balance liquidity and profitability of the funds and maximize the funds use efficiency.
5. Short-term financing management: special credit line for core enterprises based on cash management to realize quick financing for upstream suppliers and downstream dealers to resolve the enterprise’s financing demands in stages including production and sales, under various settlement modes. (1) Domestic factoring The seller transfers its receivables obtained by selling goods, offering services or other reasons to the Bank and then the Bank provides it with comprehensive financial services like receivable account financing, business qualification and credit investigation and receivable account management. The seller can get financing and obtain other factoring services only by transaction contract, invoice and other vouchers. The factoring is flexible in duration and can effectively reduce financial costs of the seller and cut its management costs by credit investigation, accounting management and account collection. (2) Domestic invoice financing The seller can, under the circumstances of not transferring creditor’s rights of the receivables, use the invoice from domestic goods transaction as a warrant, and take the receivable account corresponding to the invoice as the first repayment source in order to obtain the short-term loan from ICBC. The access threshold is very low and the financing is offered based on specific goods transaction, with simple procedures. (3) Domestic order financing After the buyer and seller use the forms other than letter of credit to settle and sign a supply order, in order to resolve the seller’s funds demands caused by purchases of raw material, production and transportation prior to shipment of the goods, in process of completing the order, the Bank offers the short-term loan to the seller by taking expected account receivables under the order as the repayment source. The seller can apply for a loan only by true and effective contract and order, which is simple and easy. It is easy for enterprises to obtain funds in the early stage and successfully complete the order and enhance their ability of accepting orders.
6. Risk management: the Bank can use multiple financial derivatives such as forward, swap, and option to provide enterprises with schemes of avoiding risks of interest rate, exchange rate and commodity and effectively avoid the fluctuation risk in the financial market. (1) Interest rate and exchange rate risk management products A. The exchange rate risk management product can lock exchange rate for future currency exchanges in advance. B. The interest rate risk management product can lock interest rate of assets or liabilities for a certain period of time in the future in advance. C. The exchange rate and interest rate hedging products can be used together. D. The product can be flexibly set according to customers’ demands for RMB/foreign currency funds management and hedging, by factors including currency, duration, amount and interest rate categories/delivery exchange rate. (2) Corporate commodity transaction The Bank can help customers avoid risks of volatile price in the future for commodities (including 31 varieties of five categories such as precious metals, base metals, crude oil, agriculture products and soft commodity) by forward, swap and option. The commodity transaction is settled by RMB and does not involve physical delivery. The Bank will keep customers’ transaction information secret.