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Corporate Banking

Collection and Acceptance

Introduction

Collection and acceptance is a means of settlement that the payee entrusts the opening bank to charge fees from the off-site payer after delivering goods according to the trading contract, and the payer promises to pay the money. Collection and acceptance can be divided into verification certificate payment and goods inspection payment. Mail and electronic allocation are available for payers to allocate the settlement amount.


Scope of application

It's applicable to corporate customers with sound management system and approval of the opening bank.


Functions

The product can meet the customer's requirement of off-site amount settlement for commodity transactions and the labor supply produced out of or relating to commodity transactions between units.


Procedures

1. The payee delivers goods in accordance with the trading contract, fills in the Collection Certificate, and entrusts the opening bank to collect.

2. The opening bank should check carefully the Collection Certificate submitted by the payee.

3. The opening bank of the payee sends the Collection Certificate to the opening bank of the payer.


(Note: For details, please call 961 111 or come to the nearby GRCB outlet.)

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