Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
h) Registers the details—that is, the date on which the cheque was received,
the name of the beneficiary/payee, the cheque number, the name of the
bank on which it is to be drawn, the type of the currency and the amount
of the check in both currencies (foreign and local), the date on which the
cheque/travelers’ cheque was settled and incorporated into the system;
i) Credits the amount of money on the cheque to the customer’s account,
pays cash if it is within her/his payment-authorization limit, or sends the
referral to the Customer Services Officer-checker/Customer Service
Manager and makes the necessary entries to reflect the transaction and
gives the copy of the deposit slip to the customer; and
j) Forwards the cheque—together with a covering letter and the exchange
control copy to the Senior Customer Services Officer-accounts for further
checking and dispatching thereof to the Foreign Transfer NRNT.
The Senior Customer Services Officer -Account
a) Receives the cheque with the deposit slip, authenticates the cheque,
registers it and assigns to it a reference number, retains a digital
photocopy thereof and co-signs the instrument and returns it to the
Maker for processing;
b) Makes sure that the cheque has a crossing stamp, perforated, and then
retains photocopies of all the cheques;
c) Dispatches the cheque to the Foreign Transfer NRNT , so that it will send
it to the concerned correspondent bank for collection;
d) Follows-up on the settlement of the outward bill purchased/the outward
bill collections;
i. If the items sent for collection are not settled within 20 days from the
date of dispatch, the first tracer should be sent by using a copy of the
form, or of SWIFT. Thereafter, tracers should be followed up every 20
days. Before sending any tracer to the Accounts and reconciliation
CATS Procedure | 94