CNY ON YOU - Program Local Currency Settlement - Chinese Yuan (LCS-CNY)

What is Local Currency Settlement (LCS)?

Local Currency Settlement (LCS) LCS is the settlement of bilateral transactions between two countries which is conducted in the currencies of each country where the settlement of the transactions is conducted within the jurisdiction territory of each country. Indonesia has collaborated with the countries in Asia for the implementation of the LCS to encourage the wider use of local currencies for bilateral transactions between the two countries.

Local Currency Settlement (LCS) – Chinese Yuan (CNY) Transactions at Bank OCBC NISP

Bank OCBC NISP was selected as one of the banks to conduct LCS transactions which focus on bilateral trade transactions with China using the Chinese Yuan (CNY) currency.

Enjoy the convenience of Indonesia-China Bilateral Transactions with LCS – CNS OCBC NISP.

• Convenience of opening a Multicurrency Current Account with 13 foreign currencies including Chinese Yuan (CNY).
• Convenience of opening a CNY Foreign Currency Current Account (single currency).
• Convenience of CNY remittance transactions.
• Convenience of Forex transactions.

CNY ON YOU

Take advantage of the program for LCS – CNY transactions which provides many benefits for your trading transactions.

Program Period: April 1 – December 31, 2022

1. Special CNY Current Account Service Checking account in CNY currency will receive a special checking service during the program period.

   Tiering	Jasa Giro
   s.d. > CNY 25.000	0,50%
   ≥ CNY 25.000	1,00%

2. Spesial Pricing TT

   Special pricing packages gift (telex 50.000 + free provision + free full amount fee) for each outgoing CNY TT transaction from current accounts through branches and Velocity@ocbcnisp* during the program period.
   *) Valid if the TT Outgoing CNY service has been effectively implemented at Velocity@ocbcnisp. period

3. Spesial Trade Finance Pricing

   Special rates gift for LC transactions, documentary collections and trade financing products.

   1. Export Transaction

      Types of products/ Services	Advising LC CNY Collection LC CNY Outward Documentary Collection Clean Nego, Bill Purchase, dan Trade Receivable Financing
      Terms, Conditions and rate	Program rates + Terms	Standard Rate
      	Advising LC CNY ✓ Advising fee include amendments: Free (if it is collected/negotiated at the bank)	Eq. USD 25/IDR 350,000
      	Standard rate applies to LC advised through to other banks or taken by beneficiary.	Eq. USD 100/IDR 1,250,000
      	Collection LC CNY ✓ Collection fee per document: LC max value. CNY 3,350,000: 0.10% min. CNY 200/ IDR 450,000 and max. CNY 1,665/ IDR 3,750,000 LC value more than CNY 3,350,000: Flat CNY 3,350/ IDR 7,500,000	0.125% min. eq.USD 50/ IDR 700,000
      	Outward Documentary Collection ✓ Collection Fee: 0.0625% min. eq. CNY 315/ IDR 450,000 maks. eq. USD 250/ IDR 3,750,000	0.125% min.eq. USD 50/ IDR 700,000
      	Courier Rate: USD 30	USD 35
      	SWIFT cost (include tracer): Free	USD 20
      	Post Shipment Financing LC atau DP/DA (Clean Nego dan Bill Purchase) dan under open account (Trust Receipt Financing): ✓ Can be drawdown in CNY currency (customer must have a CNY account) ✓ Interest rate CNY: Refers to FTP CNY plus minimun margin determined by the business segment

   2. Import Transaction

      Types of products/ Services	Issuance LC in CNY Inward Documentary Collection UPAS, Trust Receipt Financing, dan Trade Purchase Financing
      Terms, Conditions and rate	Program rates + Terms	Standard Rate
      	LC CNY (sight/usance/UPAS)
      	Issuance LC CNY dan amendments: 0.125% min. CNY 315/ IDR 700,000	0.25% min. eq. USD 50/ IDR 700,000
      	Draft LC without issuance: IDR 250,000	IDR500,000
      	LC CNY Acceptance: 0.125 % p.q. min. CNY 315/ IDR 700,000	0.25 % p.q. min. eq. USD 50/ IDR 700,000
      	LC CNY Discrepancy Fee: CNY 315/ IDR 700,000	USD 70/ IDR 700,000
      	LC CNY Reimbursement Fee: CNY 315/ IDR 700,000	USD 70/ IDR 700,000
      	AWB Endorsement: Free	IDR250,000
      	Inward Documentary Collection Handling Fee: 0.0625% min. CNY 315/ IDR 700,000	0.125% min.eq. USD 50/ IDR 700,000
      	LC UPAS, Trust Receipt Financing (LC atau DA/DP), dan Trade Purchase Financing (TPF) ✓ Can be drawdown in CNY currency (customer must have a CNY account) ✓ Interest rate CNY: Refers to FTP CNY plus minimun margin determined by the business segment
      	SWIFT Cost (includ tracer):	USD 20

Current Account Included

• Smart Business Current Account
• Signature Business Current Account
• CNY General Current Account
• Multicurrency Current Accounts (including the Business Infinity Current Account package)

Opened in CNY currency and CNY remittance transactions

Program Terms & Conditions

• Program Period: April 1 – December 31, 2022
• The program is provided for all customers holding CNY Foreign Currency Current Accounts or Multicurrency Current Accounts with additional CNY currency.
• For fees, demand deposits, and special Trade Finance rates apply to all current account customers who open a CNY Foreign Currency Current Account or add CNY currency to a Multicurrency (Giro) account without a minimum balance.
• Special pricing transactions, i.e. telex fee of IDR 50,000, no provision, and free of full amount fees can be made through branches and Velocity@ocbcnisp