Product introduction
Online NDF (Non-Deliverable Forward) transactions are managed through our online corporate banking channel. Customers are able achieve total control of transactions online by obtaining NDF quotes, place market and limit NDF orders and cancel NDF orders.
Services
Enterprises that have affiliated companies outside China, and those who have RMB income or RMB expenditure issues in the future.
Advantages of online corporate banking NDF transactions
Conducting NDF transactions through the ICBC Macau online corporate banking platform makes it convenient and easy to grasp total control of your NDF transactions.
Saves time and money on long distance calls;
Quick and convenient. Achieve total control of your NDF transactions online;
Capture better investment opportunities through instant market situation monitoring;
Experience convenient, secured and efficient modern banking services.
Conditions for service activation and workflow
Contractual agreement between three parties: ICBC (Mainland China), ICBC Macau and an onshore or offshore customer (Terms of agreement);
ICBC Macau performs a credit limit assessment for an offshore customer;
ICBC Macau opens an FX account for an offshore customer and signs the relevant agreements between them. Activation of an online corporate banking account is necessary by the FX account customer at the same time;
According to the customer’s request, ICBC Macau evaluates and structures a notional amount for the NDF transaction;
After a transaction is completed, ICBC Macau and ICBC (Mainland China) would fax copy each other a “Confirmation of Onshore (Offshore) Forward Exchange Transaction” signed by authorized signatories;
A note of “Confirmation of Transaction” will be signed between ICBC Macau and the offshore customer.