Commercial proposal
Fund for Regional Development of Chinese-Armenian Relations (Hereinafter referred to as the Fund), www.chinaarmenia.am, in collaboration with partner banks Center-Invest Bank in Russia and UNIBANK in Armenia — has established and successfully operates a platform for transferring funds (CNY) and paying contracts of Russian clients in China.
Platform Overview
The Fund has opened a non-resident account (₽, CNY) in Center-Invest Bank in Russia and an account (₽, CNY, $) in UNIBANK in Armenia. The Fund processes payments (CNY) through Center-Invest Bank and UNIBANK to its base company, Armenia China (Sichuan) Business Services Co., Ltd (Hereinafter referred to as company AC). With special approval from Chinese regulators, AC has an FDI account (investment account in CNY and $) in leading Chinese banks, including ICBC. Payments from Armenia to China are easily accepted by Chinese banks. The company AC investment account can be used to pay client contracts in China.
An Agency Agreement is concluded with clients, approved by Center-Invest Bank , Chinese banks, and Chinese regulators.
Essence of the Agency Agreement
The Fund (Agent), on behalf of the Client (Principal), processes contract payments in China through its base company AC (Executor).
The client is not required to open an account with Center-Invest Bank or register a transaction passport with it. Under the Agency Agreement, the client transfers funds to the Fund's account at Center-Invest Bank (₽). The client can hold an account with any Russian bank, including sanctioned ones.
From the moment the Agency Agreement is concluded, all matters, including the receipt of funds into the Fund's account (₽ or CNY), the transfer of funds to China, and the fulfillment of the Fund's obligations to pay the client's contract, are managed and supported by partner banks in Russia, Armenia, and China.
When the client's funds in rubles are credited to the Fund's account at Center-Invest Bank , they are converted (₽/CNY) at a rate agreed upon with the client and transferred via UNIBANK to AC's account at ICBC.
The Fund's Chinese office, based on the client's contract with the supplier, contacts the Chinese supplier and the supplier's bank to finalize all payment terms for the client's contract. The Fund's Chinese office must sign a purchase and sale agreement with the Chinese supplier, with the contract amount matching the amount in the contract between the Russian client and the Chinese supplier. After receiving the payment, the Chinese supplier must issue the appropriate standard invoice to the Fund's Chinese office.
The Fund, through its subsidiary company AC, will pay for the client’s contract for any goods and provide the necessary confirmations to the client and the client’s bank that the payment has been completed. At this point, the Fund’s responsibilities are considered fulfilled.
From the moment the Agency Agreement is signed until the completion of the transaction (payment of the contract and provision of the necessary confirmations), all steps related to fulfilling the Agency Agreement will be officially communicated to the client.
We address the issue of contract payment for the client; we do not handle logistics.
We do not profit from the ₽/CNY currency conversion. Our commission starts at 4% and is calculated based on the amount of CNY received after the client’s funds are converted.
We do not give advice,we solve problems.