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I. Introduction
Trust agency business refers to the intermediary business that ICBC accepts trust of client with corporate qualification, such as government departments, national policy bank, enterprise and undertaking units and distributes, supervises and assists to collect principal and interest of the loan or provides other financial service with loan target, usage, amount, period and interest rate determined by the client.
II. Business Varieties
Trust agency business of ICBC includes at present
1. Agency of trust business of national development bank
(1) Agency of settlement business
--Agency of cash
--Intercity and intra-city settlement
--Highway pledge charge
--Exchange settlement
(2) Agency of acceptance of bank draft
--Assist to supervise and manage loan funds use of the loan project of development bank
--Assist collection of principal and interest of the loan
2. Agency trust business of Chinese Import and Export Bank
(1) Agency export credit loans
Export credit business refers to policy loan distributed to foreign trade enterprises reviewed and approved by The Import and Export Bank of China that meet national foreign trade policy and meet loan conditions of the bank and manufacture sets of equipment and mechanical and electric products and high-tech products used on ships and airplanes, to increase export exchange ability of foreign trade enterprise of China. ICBC, trusted by The Import and Export Bank of China, sets up special account for borrowing enterprises, process transfer of the loan, supervises use of it, financial and business conditions of the borrowing enterprises, exchange settlement and assists to collect principal and interest of loan, etc.
(2) Agency central foreign trade development funds business of the Import and Export Bank of China
Central foreign trade development fund is a fund specially set by the state to support production of export products and processing enterprises abroad. Ministry of Foreign Trade and Economic Cooperation of PRC trusts The Import and Export Bank of China and The Import and Export Bank of China trusts ICBC to transfer funds and supervise use of funds and assist principal and interest of the loan.
(3) Agency of settlement business of the Import and Export Bank of China
--Procuration endorsement of bank acceptance bill: ICBC trusts the Import and Export Bank of China to issue bank bills of ICBC and ICBC accepts them.
--Agency settlement of bank acceptance bills: ICBC settles ICBC bank acceptance bills issued by the Import and Export Bank of China.
--Other payment and settlement business: the Import and Export Bank of China trusts ICBC to process exchange settlement, trust collection and collection and payment business in the areas absent from branches of the Import and Export Bank of China.
(4) Agency export buyer credit LC negotiation business of the Import and Export Bank of China
Export buyer credit of the Import and Export Bank of China is a loan provided to foreign importer (buyer) by the Import and Export Bank of China to urge foreign importer (buyer) to make payment to our exporter instantly. The importer chooses bank with good credit standing to issue LC and loan bank or issuing bank requires the exporter to choose one bank to be negotiation bank of LC. At present, ICBC accepts trust of the Import and Export Bank of China to process LC negotiation business for export of 1 million Panda color TVs.
3. Agency trust loan business of departments of the State Council
Related department of the State Council or its authorized economic organization, as the client, with distributable funds, trusts ICBC, as the trusted bank, to distribute loan to the specified borrowers by the client, and supervises and manages the loan and assists to collect the loan. At present, trust loan business. Of ICBC for central departments includes central foreign trade funds business trusted by Ministry of Foreign Trade and Economic Operation.
4. Agency of Three Gorgers Reservoir Migration Funds Business
ICBC, on behalf of Migration Development Bureau of Three Gorgers Project Construction Commission of the State Council, distribute migration compensation funds in full amount in time to migration responsible department and migration and construction enterprises and supervise and manage the funds. Moreover, ICBC participates in and reviews project budgetary estimation, budget, and final accounts of migration and construction projects, and examination of project bidding and tendering and the minimum bid price, participates in and reviews project cost of migration and construction enterprises and annual financial final accounts and ICBC sign and give final remark on final account of completed project.
5. Agency of general trust loan
Refers to the trust agency (government departments, enterprise and undertaking units, insurance company and funds, etc.) and ICBC, as the trusted bank, distributes, supervises and assists to collect the load for the client with loan target, usage, amount, period and interest rate determined by the client.
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