INTERNAL
P.S. MITSUBISHI CONSTRUCTION CO., LTD.
Proposal for provision of Cash Management Services
13 September 2021
Strictly Private and Confidential
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Table of Contents
SOLUTIONS OVERVIEW ................................................................................................ ..............................4
1. PAYABLES MANAGEMENT ................................................................................................ ..............4
1.1. Account to Account Transfer ................................................................................................ .................... 4
1.2. Bangladesh Electronic Fund Transfer Network (BEFTN) ................................................................ ......... 4
1.3. Real Time Gross Settlement (RTGS) ................................................................................................ ....... 4
1.4. Internet Banking Fund Transfer (IBFT) ................................................................................................ ..... 5
1.5. Payroll Payments ................................................................................................................................ ...... 5
1.6. Duty Payment through RTGS ................................................................................................ ................... 6
2. ONLINE BANKING THROUGH “STRAIGHT2BANK” ................................................................ ......6
3. PRODUCT WISE DOCUMENTATION ................................................................ ...............................7
4. SCHEDULE OF CHARGES ................................................................................................ ................8
5. RELATIONSHIP MANAGEMENT FOR P.S. MITSUBISHI CONSTRUCTION CO., LTD. ..............9
6. CONCLUSION ...................................................................................................................................10
ANNEXURES ...............................................................................................................................................11
Annexure: BEFTN Payments ................................................................................................................................ 11
Annexure: Straight2Bank Payment Flow ............................................................................................................... 11
Annexure: Payroll Payments ................................................................................................................................. 12
Annexure: Duty Payment through Straight2Bank NextGen .................................................................................. 12
Annexure: Payment through RTGS ....................................................................................................................... 12
Annexure: Payment through IBFT ......................................................................................................................... 12
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Executive Summary
Standard Chartered Bank welcomes this opportunity to provide P.S. MITSUBISHI CONSTRUCTION CO., LTD.
(PSMCL) with a comprehensive statement of Cash Management capabilities to address PSMCL’s requirements.
Having reviewed and understood PSMCL’s requirements, we believe we are well positioned to meet PSMCL’s
goals and priorities. Standard Chartered has a presence in Bangladesh for more than 100 years and is a leader
amongst technological and banking infrastructure. Our focus on our clients, continued investment in Bangladesh
and successful experience with large international and local companies places us in a good position to meet
PSMCL’s needs.
It is our privilege to be given this opportunity to enhance our relationship with PSMCL and we look forward to
building a long-lasting partnership to collaborate with PSMCL to drive Bangladesh’s economy.
Through this proposal, we aim to work with PSMCL to become PSMCL’s banker of choice. Our solution
incorporates a client centric approach to implementation, which will ensure that deployment of all services is
undertaken smoothly and professionally.
Standard Chartered’s relationship management team takes pride in its ability to understand our client’s
requirements. We believe that Standard Chartered contributes to the relationship by providing solutions to
challenges and identifying opportunities to enhance procedural and financial needs.
A snapshot of our key offerings: Document Title
Comprehensive reporting
capabilities , via Excel and/or PDF
reports for your accounts held in
Bangladesh;
A dedicated implementation/
integration team to ensure a smooth
migration of services and a single
Relationship Management point of
contact based in Bangladesh.
Help you achieve automation and process
efficiency in receivables management and
payments with our innovative solutions
Streamline and rationalise your banking
relationship and account structure for greater
visibility and better control of accounts in-
country, regional and global
A single global internet platform,
‘Straight2Bank ’ which provides greater control and
visibility of all accounts; and End to end integration
with your Enterprise Resource Planning (ERP)
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Solutions Overview
1. Payables Management
Standard Chartered offers a wide range of payment modes to cater to your various types of disbursement requirements,
entailed as follows:
Value Propositions of our different Payments Solutions:
• Online Origination: Various payments can be initiated and authorized through our secured online banking
platform ‘Straight2Bank’
• Single payment file for all payment types sent through Straight2Bank: RTGS, BEFTN, Pay Order, Demand
Draft, Corporate Cheque, Onsite Cheque Printing, Account to Account Transfer, etc.
• Authorization matrix can be defined as per PSMCL’s requirement conforming to Board Resolution.
• Remote Printing – Onsite Cheque Printing at PSMCL’s designated offices with signature verification at back
end – unique in the market .
• Mobile Authorization - Facility for authorizing payments using mobile phone – an Industry First .
• Centralised / Decentralised payment processing as per PSMCL’s operational requirement
• Positive Pay : Straight2Bank initiated payments does not require additional confirmation for cheques issued
over certain threshold as required by Bangladesh Bank . Moreover, Standard Chartered reconciles
instruments details once received through clearing with information stored during printing of instruments.
Therefore, it gives fraud protection to PSMCL if cheques are not genuinely issued by PSMCL.
• Through Straight2Bank Wallet, payments are directly credited into electronic wallets same day, reaching
even unbanked individuals.
The details of our different payment propositions are given below:
1.1. Account to Account Transfer
PSMCL can initiate payment instruction to transfer funds to its account or other beneficiaries where the accounts are
maintained with Standard Chartered under “ Book Transfer ” option of the bank’s electronic banking platform
Straight2bank. Same currency transfers can be facilitated 24/7/365 (unless there are any restrictions put in the
beneficiary’s account). This type of payments will be effective almost instantly when the instructions come to Standard
Chartered.
1.2. Bangladesh Electronic Fund Transfer Network (BEFTN)
PSMCL can make payments to all BEFTN member banks spanning over 10,500 branches electronically and can be
initiated through Straght2Bank. This is the most stable and cost-effective solution available in Bangladesh for inter-
bank electronic fund transfers.
The diagram given in Annexure illustrates the flow of BEFTN Payment including the general timeline it follows.
1.3. Real Time Gross Settlement (RTGS)
PSMCL can initiate payments through Straight2Bank platform for making payments using RTGS module. ‘Gross
Settlement’ means the settlement of funds transfer instructions occurs individually (on an instruction by instruction
basis).
Some of the key features of RTGS payments are:
• Standard Chartered shall send Payment Instructions to BD-RTGS system on your behalf within at most 30
(thirty) minutes from the receipt of the corresponding request and debiting your account
• Currency supported is currently BDT only
• Minimum Transaction amount: BDT 100k/ transaction
• Return TAT: 1 hour
The above-mentioned features are in line with Bangladesh’s central bank’s guidelines. If there is any change on these
according to Bangladesh’s central bank’s guidelines, the same will automatically be applicable for you (whether or not
Standard Chartered notifies you about such changes from time to time).
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We strongly urge that RTGS fund flows are advised through written letter/email notification to Standard Chartered prior
to initiation at your end. This will help in efficient execution of the transactions and avoid processing delays which may
arise due to regulatory and prudential liquidity compliance requirements.
The thresholds and timelines for written notification of fund inflows and outflows to Standard Chartered are as follows:
Amount per day Cut-off Time
BDT 50 million and above One business day (Sunday to Thursday, except public holidays) prior to
the actual transaction date or earlier
Above thresholds and timeline will be reviewed from time to time by Standard Chartered, at its discretion, and will be
communicated to you accordingly thereafter.
The diagram given in Annexure illustrates the flow of RTGS Payment including the general timeline it follows.
1.4. Internet Banking Fund Transfer (IBFT)
IBFT allows the bank’s customers to send real time payments to another bank from our online platform Straight2Bank.
The transactions are credited to the beneficiary account within 45 seconds and the settlement system operates 24x7.
Standard Chartered did the industry first live transaction for a corporate client using Straight2Bank. As limited number
of banks are participating in the IBFT network as of now, before initiating IBFT transactions please check whether the
beneficiary bank is IBFT enabled or not.
Features of IBFT
Transaction Types Account to Account
Account to Card
Origination Method Straight2Bank Web, Mobile or H2H
Transaction Limits BDT 200,000 maximum per transaction
BDT 1,000,000 daily transaction limit
20 transactions per day
Transaction TAT 45 seconds
Operating Frequency 24x7
Incoming IBFT No transaction number limits for beneficiary
Supports Virtual Account
Reporting Various reports available through Straight2Bank InfoManager
The diagram given in Annexure illustrates the flow of IBFT Payment including the general timeline it follows.
1.5. Payroll Payments
Our proprietary electronic banking system, Straight2Bank is able to support data masking and segmentation by tagging
users to specific payment types and roles, hence allowing only authorised personnel to access sensitive payroll
information. Segregation of duties can be achieved without the need to open additional accounts.
Our payroll payments module covers Account to Account transfer for payment to Standard Chartered accounts and
BEFTN for payment to other bank accounts.
The diagram given in Annexure illustrates the flow of payroll payments through Straight2Bank.
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1.6. Duty Payment through RTGS
This solution has been introduced by National Board of Revenue, Bangladesh Bank and Sonali Bank allowing other
bank clients to make Import Duty Payment to Customs Houses via RTGS. At Standard Chartered we are offering this
through our Straight2Bank NextGen platforms where the transaction originated by you is sent to Sonali Bank for
updating Bangladesh Custom’s ASYCUDA system and our client is notified on the transaction status by Sonali Bank to
the mobile number provided with the transaction– thus saving significant time for our clients.
The product can be availed only through NextGen version of Straight2Bank platform. Clients already onboarded to
Straight2Bank platform would also require to be onboarded separately to Straight2Bank NextGen; where clients will
have the same login page and password but separate group ID for Straight2Bank NextGen only.
Features of Duty Payment through Straight2Bank NextGen
Payment system Real Time Gross Transfer (RTGS)
Turn Around Time (TAT) 1 hour
Cut-off time 3 PM
Available ports a) Benapole Custom House
b) Chattogram Custom House
c) Dhaka Custom House (Dhaka Airport)
d) ICD Kamalapur Custom House
A detailed process flow of Duty Payment through Straight2Bank NextGen can be found in Annexure.
2. Online banking through “Straight2Bank”
Our cash management solutions can be automated using our state-of-the-art internet platform – “Straight2Bank”. Your
payment instructions will come to our processing hub through online authorization from your end resulting in immediate
transaction processing. The only requirement is internet access.
Straight2Bank uses the highest level of security available in the world today. All communication between your browser
and Straight2Bank are fully encrypted using 128-bit SSL encryption and authenticated with StanChart’s world class
Global Trust Infrastructure (our PKI process) that meets the Global standard.
Straight2Bank offers comprehensive reporting solutions for your collection and payments and is accessible 24/7, via
internet.
Reporting through Straight2Bank:
As per your requirement for obtaining online reports and statements, few of the major reports are listed below for your
reference:
• Account Statement
• Account Balance
• Balance History
• Intraday Transaction Details
Any report mentioned above can be downloaded in your computer. Using Straight2Bank for your reporting purposes
will save you time and ease your process of reconciliation.
Payments through Straight2Bank
Standard Chartered offers a wide range of payment modes to cater to your various types of disbursement requirements,
entailed as follows:
• Issuance of instruments – PayOrder, Demand Draft, Cheques etc
• Account to account transfer within Standard Chartered
• Electronic transfer to other bank accounts using BEFTN, RTGS, IBFT through NPSB
• Outward Telegraphic Transfer for overseas payments
• Duty Payment through RTGS
The diagram given in Annexure illustrates the flow of Straight2Bank Payment.
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3. Product wise Documentation
In order to initiate the implementation of our products and Straiht2Bank platform, the following documents are required
to be signed and accepted by your authorized signatories:
Payables Management Solutions
• BEFTN
o BEFTN Form
Straight2Bank
• Straight2Bank (S2B) services
o Service Application Form
o Standard Terms
o Consolidated Country Supplement
o Straight2Bank form
o Relevant Service Supplements
General
• Acceptance of proposal / offer letter by authorized signatories
• Board resolution/extract/instruction mentioning your consent to avail the facilities from Standard Chartered
Note:
• If you have previously signed any of the above required documents, you are not required to sign them again.
• Notwithstanding the foregoing, Standard Chartered reserves the right to collect any other information and/or
document required by it from time to time for the services contemplated under this document pursuant to its
policies and regulatory requirements and the client undertakes to provide the same.
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4. Schedule of Charges
Product & Services Standard Charge
Salary/Book transfer through Straigh2Bank Free
Payment through RTGS – Straight2Bank BDT 20 (including VAT)
Duty payment through RTGS – Straight2Bank Free
Payment through Bangladesh Electronic Fund Transfer (BEFTN) Free
Payment through Internet Banking Fund Transfer (IBFT) Free
Straight2Bank (Transactions) – Monthly BDT 1,000
Vasco Token – Setup Charge/Replacement Free
The standard charges mentioned above are effective from February 01, 2021 onwards. Charges or fees not mentioned
in the above table or not previously negotiated will be applicable according to the Schedule of Charges (SoC) published
on Standard Chartered BD website ( https://www.sc.com/bd/ ).
* VAT (15%) will be applicable for all mentioned charges
**All charges relating to BEFTN collection and payment is FREE till date. Please note that BEFTN transactions are
subject to Bangladesh Bank guidelines which may cause change in charges in the future.
*** Week shall mean and refer to the period from Sunday to Thursday, except public holidays.
Standard Chartered’s favourable pricing outlined in the table above are committed to PSMCL for a period of one year
from the date of your acceptance of Standard Chartered’s proposal. A review will be conducted afterwards on a yearly
basis to determine if transaction and balance levels warrant further concessions or adjustments. This pricing list has
been prepared for PSMCL only. It contains confidential information that is proprietary to Standard Chartered. We
request that this material not be disclosed to any other person or entity without our prior written consent.
The terms of this proposal may be changed at the sole discretion of Standard Chartered at any point of time upon 30
days’ notice to PSMCL and such changes shall automatically become applicable to PSMCL as per the policy of
Standard Chartered. Any changes to our Schedule of Charges will be made available on Standard Chartered BD
website upon 30 days’ notice.
It may take up to seven (7) working days after your acceptance of this offer letter for any preferential pricing to be
effective. You may be charged as per Standard Schedule of Charges (SoC) during this period .
Above Pricing & Conditions Accepted:
__________________________
Authorized Signatory(s)
P.S. MITSUBISHI CONSTRUCTION CO., LTD.
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5. Relationship Management for P.S. MITSUBISHI CONSTRUCTION CO., LTD.
Standard Chartered’s Client Service team will ensure that proposed solutions are implemented effectively and efficiently
by a team of its experienced officers utilizing a series of tried and tested tools and techniques, coordinated by a single
point of contact dedicated to PSMCL.
Standard Chartered looks forward to and anticipates the prospect of initiating a deeper relationship with PSMCL.
Standard Chartered views this Transaction Banking proposal as an important step towards cementing its relationship
with PSMCL.
Please direct any queries regarding this proposal to:
Nadia Mahbub
Director
Global Subsidiaries
Ph: 88 02 88330034 4420
Email: nadia.mahbub@sc.com
Aqeel Arafat Shirazi
Director
Transaction Banking, Sales
Ph: +8809666354215
E-mail: aqeelarafat.shirazi@sc.com
Dedicated Service Management
A dedicated client service group is working from 10 am to 6 pm on business days (Sunday to Thursday, except public
holidays) to meet any kind of post transaction or any other service requirement of PSMCL.
To get the service, just contact Client Services Group at:
Hotline: +88 09 666 77 2424 from 10:00 am to 6:00 pm on working days
Email : Straight2bank.bd@sc.com
The team will promptly attend you with right feedback and update.
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6. Conclusion
We believe Standard Chartered’s comprehensive cash management solution will provide the following value to PSMCL:
• Improved visibility and the efficient management of critical transactions and timely liquidity to support
payments.
• Reduced cost associated with high transactions and manual reconciliation
• Competitive customised pricing reflective of our commitment and desire to strengthen our relationship with
you
Reporting: Straight2Bank is our state-of-the-art electronic channel for report and transaction initiation. Daily reports can
be generated from Straight2Bank based on your requirements at day end or whenever required by a user-friendly report
downloading option. You can access all your daily collection reports online from Straight2Bank.
Please contact Standard Chartered representatives entailed in section 8 for further clarification on the proposal.
Relationship between Standard Chartered and PSMCL shall be governed by the terms and conditions set out in the
relevant documents or agreements applicable for the individual services and solutions. Until execution of those
documents or agreements, terms and conditions of this letter shall govern the relationship between the parties. Unless
otherwise agreed between the parties, terms and conditions and relationship between the parties and this document
shall be subject to the laws of Bangladesh and the courts of Bangladesh shall have non-exclusive jurisdiction to resolve
any dispute or difference between the parties.
This paper is prepared by Standard Chartered exclusively for PSMCL. It contains confidential information that is
proprietary to Standard Chartered. PSMCL agrees that it shall not disclose any of the content of this paper to any other
person or entity without the prior written consent or permission of Standard Chartered. PSMCL also agrees that it shall
not enter into discussions with any third parties in relation to the subject matter of this paper without the prior written
consent of Standard Chartered.
We would be delighted to meet and discuss any clarifications at your convenience. We would appreciate if you kindly
sign the duplicate copy of this letter as your acceptance to our proposal on or before 30 days from issue date .
We look forward to further enhancing the relationship between our organisations and assure you of our best services
and support at all times.
Thanking You
Sincerely Yours
Nadia Mahbub
Director
Global Subsidiaries
Aqeel Arafat Shirazi
Director
Transaction Banking, Sales
Acceptance
On behalf of P.S. MITSUBISHI CONSTRUCTION CO., LTD., I/we agree to the contents of this proposal, along with
annexures, and terms and condition mentioned therein from Standard Chartered Bank and request the bank to take
necessary steps to implement solution(s) for our organization.
Yours Sincerely
__________________________
Authorized Signatory(s)
P.S. MITSUBISHI CONSTRUCTION CO., LTD.
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Annexures
Annexure: BEFTN Payments
Annexure: Straight2Bank Payment Flow
The entire payment solution can be automated using our latest web-based payment platform – Straight2Bank Payment.
The payment instructions will come to our processing hub through authorization from your end resulting in immediate
transaction processing.
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Annexure: Payroll Payments
Annexure: Duty Payment through Straight2Bank NextGen
Annexure: Payment through RTGS
Annexure: Payment through IBFT