I. Overview Commission Management of Bill Assets means that ICBC tailors the comprehensive transaction strategy covering transaction counterparty, transaction time and transaction price based on the customer's requirement about funds, scale and time-point after concluding the commission management agreement of bill assets. Commission management including agency verification, agency custody and agency collection helps the customer increase the earnings. ICBC charges some management fees as agreed.
II. Target Customers Financial institutions qualified for bill services.
III. Features and Advantages i. ICBC signs the Commission Management Agreement of Bill Assets with the customer, committing to the cushion earnings rate of bill assets during the commission management period and tailoring high-level business strategy to ensure the earnings rate and enhance the profitability of the bill business. ii. ICBC seeks transaction counterparty, selects transaction time, identifies transaction price and controls transaction tempo based on the demand of customer. The customer can improve the efficiency of bill assets based on the business strategy designed by ICBC, thereby reducing his bill business cost to the greatest extent. iii. ICBC is only responsible for business strategy, contract and fund transfer, while the customer has to conduct the transaction. In this way, the customer can get a clear understanding of the whole process of bill asset operation to improve his operation ability.
V. Required Documents i. Commission Management Agreement of Bill Assets signed by both parties; ii. Other documents required by the ICBC Bills Discounting Department and branches.
Note: The information provided on this page is for reference only. Concrete business shall be subject to the announcement and provisions of the local outlet.