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Certificate Of Deposit Form

Certificate Of Deposit Form Template for Hong Kong

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Key Requirements PROMPT example:

Certificate Of Deposit Form

"I need a Certificate of Deposit Form for our Hong Kong retail bank that includes multi-currency options (HKD, USD, EUR) with step-up interest rates and special provisions for digital banking access, compliant with the latest HKMA guidelines."

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Document background
The Certificate of Deposit Form is a essential banking document used in Hong Kong's financial sector when a customer wishes to place a fixed-term deposit with a bank. This document serves as both a receipt and a contract, evidencing the deposit relationship between the bank and the depositor. It must comply with the Hong Kong Monetary Authority's requirements and the Banking Ordinance (Cap. 155), containing all necessary terms, conditions, and risk disclosures. The form is used for both retail and corporate customers, with variations available for different currencies, terms, and interest rate structures. It includes critical information such as deposit amount, term, interest rate, maturity date, early withdrawal conditions, and deposit protection coverage. The document is particularly important in Hong Kong's international banking environment, where certificates of deposit are commonly used for cash management and investment purposes.
Suggested Sections

1. Bank Information: Details of the issuing bank including full legal name, registration number, and registered address

2. Customer Information: Full details of the depositor including name, ID/passport number, address, and contact information

3. Deposit Details: Essential terms including principal amount, currency, interest rate, term of deposit, and maturity date

4. Interest Calculation: Method of interest calculation, payment frequency, and handling of interest at maturity

5. Maturity Terms: Options at maturity including automatic renewal terms and conditions for early withdrawal

6. General Terms and Conditions: Standard terms including deposit protection coverage, bank's rights, and applicable laws

7. Risk Disclosure: Mandatory disclosure of risks associated with the CD, including market risk and liquidity risk

8. Declaration and Signature: Customer acknowledgment and agreement to terms, with space for signatures and date

Optional Sections

1. Foreign Currency Provisions: Additional terms for CDs denominated in foreign currencies, including exchange rate risks and conversion terms

2. Electronic Banking Services: Terms for accessing and managing the CD through digital banking platforms

3. Special Interest Rate Features: Terms for step-up rates, floating rates, or other special interest arrangements

4. Joint Account Provisions: Additional terms for CDs held jointly by multiple depositors

5. Corporate Account Provisions: Specific terms for corporate customers including authorized signatories and corporate mandates

Suggested Schedules

1. Schedule 1: Interest Rate Table: Detailed breakdown of applicable interest rates, including any tier structures or special rate conditions

2. Schedule 2: Fee Schedule: Complete list of applicable fees including early withdrawal penalties and special service charges

3. Schedule 3: Authorized Representatives: List of authorized signatories and their specimen signatures for corporate accounts

4. Appendix A: Term Deposit Rules: Detailed rules and regulations governing the CD as required by HKMA

5. Appendix B: Deposit Protection Scheme Information: Details of coverage under the Hong Kong Deposit Protection Scheme

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Account
Authorized Representative
Banking Day
Business Day
Certificate of Deposit
Deposit Protection Scheme
Depositor
Early Withdrawal
HKMA
Hong Kong
Interest Payment Date
Interest Period
Interest Rate
Issue Date
Issuing Bank
Joint Account Holders
Maturity Date
Minimum Deposit Amount
Nominated Account
Principal Amount
Renewal
Term
Value Date
Withdrawal Instructions
Working Day
Applicable Law
Deposit Term
Force Majeure
Interest Calculation Period
Reference Rate
Regulatory Authority
Settlement Account
Underlying Currency
Denominated Currency
Exchange Rate
Clauses
Deposit Terms
Interest Rate
Term and Maturity
Early Withdrawal
Renewal Rights
Payment Instructions
Risk Disclosure
Deposit Protection
Foreign Exchange
Account Operation
Joint Account Provisions
Representations and Warranties
Fees and Charges
Tax Compliance
Anti-Money Laundering
Force Majeure
Governing Law
Dispute Resolution
Notices
Assignment
Amendment
Severability
Electronic Communications
Data Privacy
Entire Agreement
Customer Acknowledgment
Bank's Rights
Regulatory Compliance
Default Events
Termination
Relevant Industries

Banking

Financial Services

Investment Management

Corporate Treasury

Wealth Management

Retail Banking

Commercial Banking

Asset Management

Insurance

Professional Services

Relevant Teams

Legal

Compliance

Treasury

Retail Banking

Corporate Banking

Wealth Management

Operations

Risk Management

Customer Service

Product Development

Documentation

Front Office

Middle Office

Back Office

Relevant Roles

Bank Branch Manager

Relationship Manager

Compliance Officer

Legal Counsel

Treasury Manager

Financial Controller

Investment Advisor

Wealth Manager

Corporate Banker

Risk Manager

Product Manager

Operations Manager

Customer Service Manager

Account Manager

Financial Services Representative

Industries
Banking Ordinance (Cap. 155): Primary legislation governing banking activities in Hong Kong, including deposit-taking institutions and the issuance of certificates of deposit
Securities and Futures Ordinance (Cap. 571): Regulates financial products including certificates of deposit when they are structured as securities, covering issuance and trading requirements
HKMA Guidelines on the Authorization of Virtual Banks: Relevant if the CD is issued by a virtual bank, providing specific requirements for digital financial services
Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615): Specifies requirements for customer due diligence and record-keeping when issuing financial instruments
Personal Data (Privacy) Ordinance (Cap. 486): Governs the collection and handling of personal data in financial documents and transactions
Contract and Rights of Third Parties Ordinance (Cap. 623): Relevant for contractual aspects of the CD agreement between the bank and depositor
Deposit Protection Scheme Ordinance (Cap. 581): Provides for protection of deposits, including specifications on disclosure requirements regarding deposit protection
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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