Name
Consignment collection
Introduction
Consignment collection refers to a settlement method that the payee entrusts the bank to collect payment from the payer.
Features
1. The payee entrusts the bank to collect the payment from the payer by obligatory right voucher;
2. When the payer refuses to make the payment, the entrusted bank should not be involved in verifying the covenants which have been agreed by the debtor and creditor.
Scope of Application
It is applicable to corporate customers for various domestic cross-city or inter-city settlement with such payer's debt certificates as accepted trade drafts, bonds, deposit receipts, etc.
Application Qualifications
To apply for consignment collection, the payee should submit the consignment collection certificates and relevant debt certificates to Bank of China.
Process
1. The payee should fill the consignment collection voucher, and submits it to its account-opening bank together with payer's debt certificates, entrusting the account-opening bank to receive the payment from the payer;
2. The entrusted bank launches consignment collection to the paying bank;
3. The entrusted bank delivers the account entering receipt to the payee after the payment is made.
Kind Reminder
1. Consignment collection can be carried out for cross-city or inter-city settlement, and there is no limit on the minimum and the maximum amount.
2. Within the same city, the payee can sign a contract with Bank of China for inter-city consignment collection engaged by special arrangement for the collection of public utility fees.
|
