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1. What are
your regular trading hours?
Value Today transaction 9:00am – 12:00pm
Value
Tomorrow transaction 2:30pm
– 4:00pm
2. What is the difference between value today and value tom
transactions?
Value today – deal date and settlement
date on the same day.
Value Tomorrow – buying and selling rates
are locked / agreed Today but the actual settlement shall be done on the
next banking day.
3. What is
your minimum amount per transaction?
Our minimum amount to be traded per
transaction is USD20, 000.00. CC
only does volume trading and we do not have over-the-counter transactions.
4. How can
one become a client of CC Currency Center?
CC applies the “know your counterpart
principle”, thus, we usually conduct a client call to prospective clients
and important documents are required to be submitted to be able to become
an enrolled client of CC.
Documentary Requirements are the
following:
For Single
Proprietorships:
1. Certificate
of Registration from the Department of Trade and Industry (DTI)
2. Business
Permit
3. Authority
Letter for the list of authorized personnel to deal and their signatures
4. Valid
primary IDs of the owner and those of the authorized personnel to deal
For
Corporations:
1. Articles
of incorporation and by-laws
2. Authority
Letter from the management for the list of authorized personnel to deal
3. Board
resolution and/or Secretary’s Certificate
4. List
of Directors / Partners / Principal Stockholders
5. Do you also require your clients to submit trade documents for
clients who wish to purchase (buy) dollars?
Yes, Buyers are required to submit ANY of
the following trade documents:
• Invoices
• Bill
of lading
• Packing
list
Including CC required documents:
• Application
to Purchase
• FX
Certification
6. What is
an FX certification?
A trade document to be filled up and
submitted by the Buyer certifying that the amount dealt partially covers
his/her FX requirement.
7. How fast
can you settle each transaction?
Usual processing time per transaction is
30 minutes.
8. What if a
Buyer or a Seller cancels a deal?
In an event a buyer/seller cancels a deal,
a cancellation fee will be charge to the client.
Cancellation fee is computed
mark-to-market or 5 cents (of the amount dealt) whichever is higher.
“Mark-to-market” is computed as on-going
market rate less the agreed rate times the amount of Dollars dealt.
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