1 Banks are requested to adopt the formats attached at Appendices I -- IV for their commercial bills of exchange. The objective is to simplify operational and verification procedures in the discounting of commercial bills.
2 Banks are also requested to adhere to the following procedure when introducing commercial bills of exchange into the market:
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(a) |
Use a number of not more than 13 digits (characters) for each commercial bill which is to be rediscounted with another bank or discount house. The detailed guidelines, which have been discussed with the Association of Banks in Singapore, are given in Appendix V. |
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(b) |
In addition to indicating the industrial classifications of the drawee on the face of each bill as required under Item 23 of the "Notes for Completion of the Bank's First Schedule," please state also the industrial classification code as well for example,
Manufacturing 02
The industrial classification codes are listed at Appendix VI for your use.
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3 If you have any query, please contact the International Department at telephone number 6222 8731.
Appendices I -IV
Appendix V: Guidelines for Numbering of Bills
Appendix VI: Guidelines for Numbering of Bills
