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Corporate Term Deposit

Business introduction


A time deposit refers that enterprises, institutions, organs and groups deposit their funds that meet certain requirements, and will not be used within certain period of time to CMBC once for all, and specify the deposit term. CMBC will issue the confirmation of time deposit to them, who may withdraw the principal and interests through the certificate of deposit when the deposit is mature.


Business process


1.The customer, when transacting the time deposit, shall sign a check for transfer to CMBC, who, after reviewing it free of errors and keeping it properly, will make out a confirmation in triplicate. It will keep the first and third copies with it, and return the second copy to you as deposit certificate after stamping it with its business cachet. CMBC will stipulate the date, enterprise name, account number, deposit term, amount, interest rate on the confirmation; the customer must reserve its signature;

2.When the deposit becomes mature, the customer shall hold two copies of the bank slip and the second copy of the confirmation with its signature kept to conduct transfer with CMBC. In case that the customer has not left any signature, it may conduct the transfer through its cachet;

3.In case that the customer prefers to withdraw the time deposit prior to its maturity, it shall present the written certificate stamped by its cachet, and give justified reason for the pre-mature withdrawal. CMBC will calculate the principal and interests according to the interest rate of demand deposit publicized on the date of withdrawal. For the pre-mature withdrawal of deposit in part, the interests of the deposit withdrawn will be calculated according to the interest rate publicized on the date of withdrawal; the residual deposit will be conferred new certificate of deposit and its interests will be calculated and paid according to the interest rate of time deposit publicized on the date when the original certificate of deposit was issued and original deposit term;

4.After the mature of the time deposit, the customer may transact renewal procedure. CMBC will withdraw the certificate of deposit, clear the interests, issue new confirmation and calculate interests according to the date of renewal;

5.When the signature on the certificate of deposit is changed, a letter of the customer and confirmation shall be submitted to CMBC to transact the procedures of signature change. In case that the certificate of deposit is reported for lost, damage or theft, CMBC can only transact the procedure for reporting the loss after confirming that the deposit has not been paid according to the letter of the customer on payment suspension, and reissue a new certificate of deposit. In case that the deposit is withdrawn fraudulently by others prior to the customer declares to stop the payment, CMBC cannot report its loss;

6.The certificate of deposit is not transferable or negotiable.