I. Overview The Bill Pool refers to the comprehensive bill management service under which the customer can keep their commercial papers at the Bank for unified information management of the group, or the customer and its subsidiaries can pledge their commercial papers to the Bank to get a line of credit shared by all its institutions so that the customer or its subsidiary can apply for bank draft acceptance to the Bank.
II. Requirements 1. Customers applying for bill keeping with the Bill Pool shall open a corporate settlement account in the Bank and sign the Service Agreement on Cash Management (Bill Pool). Subsidiaries applying for Bill Pool service shall provide a Letter of Authorization to the Bank. 2. Customers applying for bill pledging with the Bill Pool shall meet all requirements for commercial paper pledge and acceptance business of the Bank. Besides, a security deposit account shall be opened at the account opening branch of the Head Office or subsidiaries involved in the service depending on the business model. 3. The Head Office and subsidiaries applying for the Bill Pool service shall submit the Application for Enabling (Modification/Cancellation) of Bill Pool and relevant business materials.
III. Features and Advantages 1. Unified management of bills can reduce the holding risks. The Bank can provide corporate customers with bill authentication, information management and keeping services as required to realize unified and intensive management of commercial papers and reduce the risks of lack of information transparency within the corporate, fake bills and public disclosure dunning. 2. The bill asset can be used flexibly and monetized. Based on unified management of all bills, the customer can pledge bill asset under Bill Pool to meet demands for gaining small-amount bills out of large-amount bills and mismatching terms between new bills and existing bills. In this way, the bill asset can be fully mobilized and the financing cost can be reduced. 3. The internet banking service reduces the labor cost. The Bill Pool supports internet banking service. With all bill information, the customer can process all existing bills under the Bill Pool through internet banking. It is suitable for customers frequently engaged in entrusted payment collection, discounting and acceptance bill business and using a lot of bills in business. 4. The abundant outlets can provide excellent services to corporate customers. With outlets of the Bank all over China, the customers enabling Bill Pool service can deliver bills to the outlet nearby to realize concentration of bill management and information, which is suitable for corporate customers with many subsidiaries and a great deal of business involving bills.
Note: The information given on this page is for reference only. See the announcements and regulations of local outlets for details.