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Brokerage and Deferred Settlement of Physical Precious Metal

I. Introduction
Agency Precious Metal Bullion is that ICBC acts as agent of the client to purchase and sell Precious Metal for the client through Internet Banking. You can use this service to manage your Precious Metal trading account, trade Precious Metal, claim Precious Metal from a designated warehouse, and invest in Precious Metal for trading delay (T+D). 
Precious Metal T+D: You can purchase or sell Precious Metal in the way of Au (T+D). For details, please refer to Precious Metal for Trading Delay (T+D).

II. Target Client
Corporate clients who need to invest in Precious Metal and gain investment income by purchasing Precious Metal at a low price and selling it at a high price, can take up the investment risk, or who need to claim Precious Metal from a warehouse at a different region.

III. Features
1. Rich varieties of trade: Clients can trade Precious Metal, platinum and  Silver. Different varieties of trade are available, which keep in line with the international practice and can meet the diversified demands of clients.
2. Flexible trading modes: Clients can get informed of account activities and market quotes real time, which enable clients to seize the investment opportunities.
3. Convenient  Withdrawal options: Clients can choose the locations, which can meet their demands to draw at a place as near as possible.

IV. Application Condition
1. Registered ICBC Corporate Internet Banking clients who hold corporate cards.
2. Have opened a Precious Metal trading account and gained a Precious Metal trading client number at Shanghai Precious Metal Exchange.

V. Sign up
You need to submit the Application Form for ICBC Corporate Internet Banking Clients to Modify (Cancel) Items and Corporate Clien's Certificate and Account Information Form to your account opening bank branch; the clerk will bind the basic account which connects the corporate service card and the Precious Metal trading client number to establish a Precious Metal trading account, after which the client can use ICBC's Precious Metal trading services through Internet Banking.

Ⅵ. Service Channel and Time
Corporate Internet Banking service is available between 10:00am and 11:30am, 1:30pm and 3:30pm; between 9:00 pm and 2:30 the next morning from Monday to Thursday, except national holidays. (In case of any change, the opening hours of the Precious Metal Exchange shall prevail.)

Ⅶ. Fee and Tax
Precious Metal trading account opening service fee, Precious Metal trading service fee, Precious Metal acquiring service fee. For detailed fee charging standards, please refer to the public notices issued by the Precious Metal Exchange and the bank.

Ⅷ. Market Quotes
The channel of Precious Metal(Chinese Version)

Ⅸ. Considerations
1. In the operation of Precious Metal trading, a certain amount of service fee will be charged according to the fee charging standards of the Precious Metal Exchange and the bank. In the operation of Precious Metal acquiring, a certain amount of service fee will be frozen serving as the basis to debit the storage charge and transportation fee and insurance.
2. The corporate client should go to the designated bank branch to confirm his claim for Precious Metal, in which process he should present the Precious Metal acquiring number which can be learned through the service of "Inquiry on application for Precious Metal acquiring". After confirmation, the client can acquire Precious Metal from the bank designated by the Precious Metal Exchange.
3. As long as there is still Precious Metal or fund in the Precious Metal trading account, the client cannot change his Precious Metal trading account.
4. The transaction unit is "Hand". The amount that one "hand" stands for depends on the variety of trade. Generally speaking, one "hand" is equivalent to 100 g. In Precious Metal trading, the minimum amount to purchase or sell is one hand, the maximum amount is 100 hands, and the grade difference is one hand.
5. The minimum amount that can be acquired and the specifications for the Precious Metal acquired should comply with the temporary provisions of the Precious Metal Exchange.

Ⅹ. Risk
1. Precious Metal trading is accompanied by different risks including policy risk, price risk, interest rate risk, communication system security risk and network security risk. At the same time, dramatic price fluctuations may occur due to political and economic incidents and unexpected events. Clients should be aware of the risks inherent in Precious Metal trading. 
2. Clients should be fully aware of the function of Precious Metal trading, its risks, and the trading rules at the Precious Metal Exchange, and accept the entrustment independently.
3. Clients should carefully read and abide by the operation rules of Shanghai Precious Metal Exchange and ICBC. If the client does not comply with the rules, all open positions held in his account shall be closed, and the client shall bear the loss incurred. 
4. A computer system serves as platform for transactions at the Precious Metal Exchange. If any problem occurs with the computer system causing that the client;s market orders or cancellation orders fail to execute, ICBC shall take up no liability for loss caused to the client.
5. There are also risks in delivery of Precious Metal. If the Precious Metal delivered fails to arrive at the designated storage area on time, or fails to meet the quality standards, or lacks quantity, as ICBC cannot control or guarantee against such risks, the client shall bear all resulting adverse consequences.
6. The market analysis and commentary provided by ICBC serves only as client reference, and does not constitute basis for any actual transaction, thus if any client claims that he has suffered loss due to following ICBC's guidance, ICBC shall not assume any financial or legal liability.

Ⅺ. Definition
Precious Metal trading client number: An ID number the Precious Metal Exchange uses to identify each client and manages the amount of Precious Metal in storage for each client according to their variety of trade.

Precious Metal trading account: An account which the client opens in ICBC and the fund in which will be transferred into the special account of Precious Metal trading agent. The Precious Metal trading account for this service should be the basic account connecting the corporate client card.

Bank to claim Precious Metal: A bank branch where the Precious Metal warehouse, designated by different bank branches of the provincial or municipal level, is located, and acts as agent for clients to claim Precious Metal from the "Precious Metal Warehouse Designated by Shanghai Precious Metal Exchange".

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.