TREASURY SERVICES. Solutions/Product/Sector/ Industry/Vertical Brochure TREASURY SERVICES. Reference Guide. Service Excellence One Client At A Time

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1 TREASURY SERVICES TREASURY SERVICES Solutions/Product/Sector/ Industry/Vertical Brochure Headline Global Account at most Opening three lines Reference Guide Service Excellence One Client At A Time

2 Service excellence one client at a time Contents Experience 3 Follow the Sun Our Approach 4 7 Easy Steps to Opening a New Account 5 Document Checklist 6 Country-Level Assessment 7 Frequently Asked Questions 8

3 Experience Experience is what sets J.P. Morgan apart from its competitors when it comes to the account opening process. Experience gained from opening more than 40,000 accounts each year. Our goal is to make it easy for our clients to do business with us. By providing global continuity through transparent, intuitive processes, we strive to do just that with each and every account that we open. 3

4 Follow the Sun Our Approach J.P. Morgan takes a global approach to the account opening process by making our resources available to you within your time zone. Our model is flexible and is based on where you wish to manage the account openings / product activations. Our regional teams provide local and international expertise and account opening support to: Assess and define your requirements for account opening Internally liaise with J.P. Morgan locations across the globe to coordinate all facets of the account opening Prepare, send and obtain completed legal documents from you Communicate with you regularly throughout the process Work with you to efficiently comply with country regulatory requirements for account opening Provide ongoing updates related to all account opening activities 4

5 7 Easy Steps to Opening a New Account Contact your Treasury Services sales or service representative to request the opening of a new account. Ownership: Client Your sales or service representative will quickly gather the necessary preliminary information and route your request to the appropriate implementation consultant. Ownership: J.P. Morgan The assigned implementation consultant will contact you to confirm your request. Ownership: J.P. Morgan Review and complete the document package provided by your implementation consultant. Throughout the process, your assigned implementation consultant is available to proactively assist you in completing the documentation. Ownership: Client /J.P. Morgan Return completed documents to J.P. Morgan. Ownership: Client If we have any questions or issues pertaining to the documentation submitted, your assigned implementation consultant will contact you. Ownership: J.P. Morgan Your request will be processed and you will be notified when your account is activated so you can begin using the account. Ownership: J.P. Morgan Please note: As part of your account opening process, you will also be required to complete identification documents and/or provide other client-specific information. These requirements are related to, among other rules, anti-money laundering regulations and must be fully satisfied during the account opening process. 5

6 Document Checklist Documents that may be required to open a new account include: Authorization Documents Client-signed documents that indicate who is authorized to perform certain functions on behalf of the client Board Resolution Client provides Certificate Regarding Accounts or equivalent Signature Cards Product/Account Documents Terms and conditions under which a service or account is provided Consolidated Service Terms Account Terms/Account Application Subsidiary Election Addendum Client Identification or Other Anti-Money Laundering Documents Various client-provided organizational, status and entity purpose documents (may differ by jurisdiction) Authorized signers identification cards (e.g., passport, drivers license) Where applicable Ownership/Director lists and organizational structures Incorporation documents Tax Documents W-8/W-9 Account Reservation Option Once you have submitted a request to open an account, you may request that the account number be made available to you prior to the account opening process being completed. This will allow time to make any necessary updates to your internal systems prior to the account being activated. Please note that these account numbers cannot be used for any transactions until the account opening process has been completed. 6

7 Country-Level Assessment The account opening and documentation process varies from country to country as a result of varying regulatory and legal requirements. J.P. Morgan s global reach and experience helps us to facilitate an efficient and controlled account opening process in each country. Based on our experience, the level of complexity of the account opening and documentation process country by country is as follows: Complexity Level The countries with the most straightforward account opening and documentation process are: Low Country Australia Canada England France Ireland New Zealand Switzerland The Netherlands United States Region North America North America The countries with a medium level of complexity in terms of the account opening and documentation process are: Medium Belgium Germany Indonesia Italy Korea Malaysia Philippines Spain The countries with a high level of complexity in terms of the account opening and documentation process are: High Brazil China Hong Kong India Japan Mexico Singapore Taiwan Latin America Latin America 7

8 Frequently Asked Questions FAQs Q: Why is the onboarding process different for different countries? A: Central banks and governments have varying regulatory requirements. These address, among other things, anti-money laundering, anti-fraud, anti-terrorism and other potential risks. Q: Are account opening requirements specific to J.P. Morgan? A: No. The requirements are based on the regulations set forth by the jurisdiction where the account will be opened as well as that of the entity requesting the new account. J.P. Morgan works to create a streamlined process that is as consistent as possible across jurisdictions. Q: How may I get more details regarding the specific documents or document requirements that are required within specific jurisdictions? A: Contact your Treasury Services sales representative, service officer or implementation consultant, who will be able to provide you with a detailed checklist of all the account opening requirements based on the specifications of the account open request. Q: What are the Consolidated Service Terms? A: The Consolidated Service Terms is a single document that contains service terms for most of J.P. Morgan s Cash Management and Liquidity products. The Consolidated Service Terms do not require your signature and do not need to be returned to us. Your completed Acceptance Letter, Signature Card or Certificate Regarding Accounts (CRA) is all that is needed. Your company does not have to use all of the products and services included in the Consolidated Service Terms. When you are ready to add services that you are not currently using, the terms in the Consolidated Service Terms shall apply. Refer to your assigned implementation consultant to determine if this document could be leveraged for your setup. Q: What is the Subsidiary Election Addendum (SEA)? A: The SEA binds subsidiaries to certain account and product agreements of a parent. The parent must own more than 50% of the voting stock of each relevant subsidiary. A parent may sign on behalf of a subsidiary if the parent warrants that it has the power to control such subsidiary and indemnifies the Bank. Refer to your assigned implementation consultant to determine if this document could be leveraged for your setup. 8

9 Frequently Asked Questions FAQs Q: What additional documents may be available to help streamline the account opening process? A: The Certificate Regarding Accounts for Customer and its Subsidiaries enables a parent to designate authorized persons for itself and its subsidiaries using a single form instead of each legal entity having to provide individual resolutions or Certificate Regarding Accounts. Client must meet the following requirements: The parent must own 100% of the voting shares of each relevant subsidiary. The authorized signers must be the same for the parent and each of the subsidiaries identified on the CRA. This form may be used for corporations, unincorporated associations, limited liability companies, and partnerships, including limited liability partnerships. The Certificate of Incumbency (COI) and Appointment of Designated Authority (ADA) can be used in conjunction with this new form. Refer to your assigned implementation consultant to determine if this document could be leveraged for your setup. 9

10 For more information, please contact your J.P. Morgan Treasury Services representative or visit jpmorgan.com/ts 2010 J.P. Morgan Chase & Co. All Rights Reserved. J.P. Morgan Chase Bank, N.A. Member FDIC. All services are subject to applicable laws and regulations and service terms. Not all products and services are available in all geographic areas. Eligibility for particular products and servicesis subject to final determination by J.P. Morgan and/or its affiliates/subsidiaries. All information contained herein is subject to change without notice. J.P. Morgan Chase makes no representations as to the legal, regulatory, tax or accounting implications of the matters referred to in this document. Produced by Treasury Services Global Marketing.