Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
17. Customer: shall refer to legal person or natural person with whom the bank
agrees to conduct business.
18. Delinquent list: also referred as mal-operation list and shall refer to the
register held by the National Bank of Ethiopia, indicating the names of
demand deposit account holders whose cheque have been dishonored
repeatedly and whose accounts are closed by our bank.
19. Demand Deposit Account: (a current or checking account) shall refer to a
non-interest-bearing account which is operated by cheque.
20. Diaspora Accounts: Shall refer to a foreign currency accounts opened for
Ethiopians living abroad (who live more than one year abroad); and
Ethiopians by origin but with different nationalities that are referred as
eligible Ethiopians.
21. Document Authentication: shall refer to the process of checking the
genuineness of a document from the issuing organ or other reliable sources.
22. Draft: shall refer to a type of negotiable payment instrument prepared when
requested by the customer, is payable upon presentation and on the
destination specified on it. But if it is cancelled, it can be paid by the
originating branch. It is endorsable and valid for one year.
23. Earmarked Accounts: shall refer to accounts opened with other
descriptions after the name or names of the account holder or holders.
24. ECX Client pay-in: Shall refer to the account maintained by members in
behalf of their client. Similar to member pay in account it serves as
depository account, for which debit entries should be instructed by ECX.
25. ECX Client pay-out: Shall refer to the account maintained by members in
behalf of their client. Like member pay out account the account ownership
rests with the member account holder.
26. ECX Member Pay –in Account: refer to an account maintained by trading
members of ECX, which serve as payment guarantee to the buyer and
eventually will be used for payment against the sales agreement between
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