Banking Terms Based on the word / phrase from letter C (Part II/IV)

Banking Terms Based on the word / phrase from letter C (Part II/IV) :
Certificate of Inspection.

Inspection certificate is issued by independent institutions (SGS or PT Sucofindo) or buyer representation in the State of exporters. This certificate is also called the Surveyors Report.

Manufacturer's Certificate of Quality.

The certificate is made by a manufacturer or supplier of goods exported describing the quality of goods or currency export trade, including a new explanation of whether or not the goods and whether the goods meet the specified standards.

Certificate of Origin.

Called also Certificate of Origin (SKA) is a statement issued by the Ministry of Industry and Trade / Chambers of Commerce and Industry of Indonesia or the Forestry Department / Customs stating that the goods exported are really from exporting countries (in this case Indonesia) .

Certificate of Quality.

Called also Certificate of Quality, is a statement that the goods are exported in compliance with quality standards based on test results of samples of goods from the party goods ready for export. Quality certificate was made by the Testing Laboratory Manager Manufacturer Exporter of Quality or the Central Laboratory of certain merchandise that is appointed by the Director General of Foreign Trade - Ministry of Trade and Industry.

Certificates of Sanitary, Health and Veterinary.

Is a Certificate stating that the export of raw materials, plants or parts of the fruits of plants have been inspected and are free from pests and diseases (Certificate of Sanitary). For items related to production / seafood, animal bones and cattle, then the statement is free of pests and diseases are described in the "Certificate of Veterinary" or "Certificate of Health." The level of cleanliness / decay and health and other aspects of the goods are also described in this document.


Cessi Receivable.

Is the transfer of rights to the receivables. If the debtor has a clear Receivables (current or Current) and in guaranteed bank accounts will be transferred right to the bank to collect the debt to the debt and the right to the receivables have been transferred in the call Cessi Receivable. Receivables can be transferred to the Billing Authorization can be done under the hand or in Notaril, as long as not contrary to the requirements stipulated in the agreement between the parties the debts owed to creditors.

Blueprint of Islamic Banking Development in Indonesia.

Islamic Banking is a development plan to 2011, grouped into 4 (four) focused objectives, namely:
i. Fulfillment of sharia principles in Sharia Bank operaional
ii. Application of the precautionary principle in Islamic banking operasioanl
iii. The creation of a competitive Islamic banking system and efficient
iv. And systemic stability and usefulness terrealisasinya Islamic banking system for the wider community.
The blueprint serves as a guideline for the stakeholders of Islamic banking and through the blueprint, expected market share of Islamic peerbankan will rise significantly

CFR (Cost and Freight).

The term is usually followed by the name of the port of destination, is a code in the International Commercial Terms (Incoterms), which means limits the responsibility of Seller / Seller to the Buyer / Buyer for export of both the cost of shipping goods, transport and limited risk to the goods loaded aboard a ship plus with transport costs to port of destination. In this case the Seller / Seller is responsible for preparing items to be ready for export.
Limits of responsibility include:
a. Transportation of regulated sellers.
b. The risk of switching from seller to buyer when the goods pass through the ladder / the ship (on board).
c. Switching costs at the port of destination, buyer paying other expenses incurred outside the contract of carriage is borne by the seller.
d. Expenditures of the customs export (export clearance) is the responsibility of the seller.

Charge Card Sharia.

Is the pattern of financing such as credit card on Conventional Banks. However Charge Card Sharia does not charge interest, but wearing a fee for membership and transactions. Akad used for charge card application is Kafalah and Al Qard.

Chartered Party B / L.

Is the B / L issued by the ship charteran. In the L / C is often required by the buyer that "Chartered Party B / L not allowed.

CIF (Cost, Insurance and Freight).

The term is usually followed by the name of the port of destination, is a code in the International Commercial Terms (Incoterms), which means limits the responsibility of Seller / Seller to the Buyer / Purchaser upon delivery of goods that have been prepared in good export costs, freight and limited risk to the goods loaded aboard a ship plus the cost of transportation and insurance cost to destination port In this case the Seller / Seller is responsible for preparing items to be ready for export. Basically identical to the condition of CFR CIF with additional insurance costs.

CIP (Carriage and Insurance Paid To).

The term is usually followed by the name of the destination, is a code in the International Commercial Terms (Incoterms), which means limits the responsibility of Seller / Seller of any goods either costs, transportation and limited risk to the goods loaded aboard a ship plus the cost freight and insurance costs to the port of destination. In this case the Seller / Seller is responsible for preparing items to be ready for export. Thus, the same as the CIF CIP. They differ only in conveyances CIP can be used for various types of conveyances while CIF only by boat.

Clean B / L.

Is the B / L which did not provide records that the goods listed in the B / L in a state of defective / damaged, and so on, meaning the goods are received by the shipping company is not in a state of defective / damaged.

Clean L / C.

Is the L / C can be thawed enough by issuing money orders and / or receipt of acceptance, which means not required shipping documents and others as a condition of disbursement of L / C.

Clean Up Call.

Is an option that allows securitization exposures such as Asset Backed Securities (ABS) withdrawn / settled before all the underlying exposures (underlying exposures) or exposure to securitization repaid. In the case of a traditional securitization, generally it is accompanied by a repurchase of the remaining securitization exposures when the price of outstanding securitization in question fall below a certain level. In the case of synthetic securitization, clean-up call can be made in the form of a cancellation clause or abolish the credit protection.

Client Resident (CR)

Is a person, corporation or other entity, domiciled or plan to domicile in Indonesia for at least 1 (one) year, including representatives of the diplomatic staff of the Republic of Indonesia and abroad. Other terms are Customers Resident. While Client Non-Resident (CN) is a person, corporation, or other entities not domiciled in Indonesia or plan to domicile in Indonesia.

CLS (Continuos Link Settlement) Bank.

Is a 'Special Purpose Banks' who provide a service 'continuos link settlement' that simultaneously resolve (settle) the payment to the two parties to transact in foreign exchange (fx). This service is a private initiative that is designed to eliminate risks that could occur if one of the 'leg of fx' solved separately, in this case a payment has been made, but payment is not received from other parties.
Currently, the CLS Bank is quite active and is known internationally is the "CLS Bank International" based in New York under the supervision "of the Federal Reserve Bank of New York". This bank is a 'multi-currency bank' that holds the account for each 'Settlement Member' (generally a bank or corporation) and an account for "eligible currency's Central Bank" through which the funds received and paid. While this CLS Bank International to settle 17 types of currencies including the Euro, Pound Sterling, Danish Krone and Swedish Krona. Rupiah has not been included.

C of credit (5 C of credit).

Are criteria that need to be assessed against a credit applicant before being given approval (or rejection) of the application for or renewal of a credit facility.
These criteria are:
1. Charakter (character)
Concerning the character or the character of prospective borrowers. Must be believed that the debtor does not have a deviant character, honest and not believed to be one who likes broken promises, let alone a lie like a fraud.
2. Capacity (ability)
Associated with the ability of the company in terms of production capabilities, ability to generate profits, ability to repay loans.
3. Capital (Capital)
Loans are to provide for financing, so it's not finance all of our customers' needs. Bank credit only "extra" funds so that the customer himself must have capital (own financing for any needs that require financing).
4. Condition of Economy (Economic conditions)
General economic circumstances determine the success of a business or financial plan. Economic circumstances that are both hopeful of the success of a business and vice versa when the economy is sluggish or recession, of course, a lower success rate and can lead to failure.
5. Collateral (Collateral or Collateral)
Loans are secured by a bank to guarantee (collateral), so that when a business fails is still no guarantee that a "Cover" for the return of bank credit.

Collateralised debt obligations (CDOs).

Is one technique in Credit Risk Transfer.
In a CDO, credit risk is transferred from the Risk Sheder to an SPE (Special Purpose Entity) or in a transfer of assets or synthetically using credit derivatives. Although there is no agreed definition (Common Agreed definition) in the literature, CDO secured by the loan (loans) are often referred to as' Collaterallised loan obligations' (CLOS) which is secured by a bond CDO is labeled as' obligations Collaterallised Bonds '(CBOs). CDO Exposure to assets can be done through a cash purchase of the asset (cash CDOs) or using credit derivatives (synthetic CDOs). Further differences are about its use.

Collateral prefund.

Is the Initial Funding (prefund) allowed in the form of collateral, especially for Clearing Debet.Jenis prefund Collateral can be:
(1) Bank Indonesia Certificates (SBI) or Wadiah Bank Indonesia certificates (SWBIs)
(2) Government Securities (SUN) and or
(3) securities or other charges as stipulated by Bank Indonesia.

Combined Transport B / L.

Is the B / L is used as proof of carriage of goods exports for the entire journey both by sea and by land. For example, exports of goods that were originally transported using ships and arriving at the port of destination followed by land transport / truck up to the final destination remains the responsibility of the shipping company that issued B / L is.

Comfort Letter.

Is a letter prepared by an accountant stating whether or not material facts occurring after the date of the last financial statements before the effective date until the Registration Statement which can lead to significant changes or endanger the financial position or results of operations as presented in the financial statements are attached as part of statement document Registration and contained in the Prospectus.
Comfort Letter addressed to Bapepam and the Underwriter, which minimally contains the following points:
1. Comfort Letter.
Date shows the ultimate limit liability of accountants in the implementation of inspection procedures commonly required in connection with the preparation of the Comfort Letter is a maximum of 14 days prior to the Registration Statement for a Public Offering shall be deemed effective. If there are material facts that could lead to significant changes or endanger the financial position or results of operations of the issuer, Bapepam may request an accountant to resubmit a Comfort Letter which covers the period from the previous letter of comfort until she gave the commencement of the offering period.
2. Introductory paragraph.
Contains:
(A) Statement that the accountant has conducted an audit of financial statements of the Issuer which is included as part of the Registration Statement
(B) A statement that the audited financial statements have been prepared in accordance with generally accepted accounting principles and accounting provisions in the Capital Market.
(C) A statement that the reporting accountant has been included in the Registration Statement
3. Para content:
o Statement of Independence accountant
o Compliance with generally accepted accounting principles and accounting provisions of capital market
o Compliance with the Public Accountants Professional Standards
o Statement of the procedure and the review of financial statements that are not audited
o Disclosure of exceptions to the Negative Assurance
o The statement about the procedure and the review after the date of the financial statements are unaudited interim until the date of the Comfort Letter.
o Statement of Pro Forma financial information
o A statement from the accountant regarding financial forecasts or projections
o A statement from an accountant about the suitability of the data public offering prospectus with audited financial statements an accountant.
o A statement from the accountant that in order to provide the above statements accountant has also conducted a review of the minutes of meetings of Directors, the Board of Commissioners, shareholders and other non-financial information relevant up to date comfort letter.

Commercial Documentary L / C.

Is the L / C for disbursement must be accompanied by commercial documents, including the shipping documents (B / L), invoices, bills, and so on according to Weigh list the details asked in the L / C is.

Commercial Invoice.

Commercial Invoice or commercial invoice or a so-called "invoice" course, a detailed memorandum about the price and volume of goods sold are made by the seller and addressed to the buyer.

Overdraft.

Is the provision of facilities beyond the withdrawal of an effective balance in a checking account, which has not made a credit agreement or exceeding the credit limit specified above based on the credit agreement. Another term is "Overdraft".

Intra-day overdrafts.

Is the provision of overdraft by the bank which closed at the end of the day (before the closing cash) so that customer account balances at the end of the day does not exceed the credit limit or do not cause the debit balance on account of intra-day giro.Cerukan unsuccessful closed on that day turned into overdraft (overdraft).


Continued to Part III