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Agency of Centralized Collections and Payments


 

Name

Agency of centralized collections and payments

Introduction

It means that the payee or the payer entrusts the clearing institutions to deliver the instructions of collections and payments to the payee's account-opening bank or the payer's account-opening bank for centralized collections or payments according to the contract.

Features

1. The payee or payer can entrust the clearing institutions to make the instructions of agent collection and payment;

2. The business can be processed by the system of collecting and paying bank automatically without any human intervention;

3. This service covers nearly 100 kinds of businesses (such as collection of tap water fee, collection of electricity fee, and agent payment of salary.)

Scope of Application

It is available to corporate customers in agency collection and payment business within the domestic area where People's Bank of China promotes the business of agency collection and payment.

Application Qualifications

1. Corporate customers should sign the network-entering agreement and register in local agency collection and payment center for the business of agency centralized collection and payments.

2. The agreement of agency centralized collections and payments should be respectively signed before the business is carried out. Agency collection agreement refers to the labor agreement signed between the corporate carrying out the agency collection service and the payers, or the entrustment agreement signed between the payers and their account-opening banks. Agency payment agreement refers to the agreement signed between the corporate conducting agency payment and their account-opening banks.

Process

1. The collection and payment corporate (the consignors) signs the network-entering agreement with the agency collection and payment center, and submit the agreement of agency centralized collection and payments to the account-opening bank;

2. The consignor delivers instructions to the agency collection and payment center on a regular basis, and the center transmits the instructions to the consignors' account-opening banks for the advance of agency collection and payment.

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