BOCOM Group definition
Examples of BOCOM Group in a sentence
On 1 December 2020, the Company entered into the Financial Technology Services Framework Agreement with BOCOM pursuant to which the Group has agreed to provide certain financial technology services to the BOCOM Group.
Scope of service : All provision of financial technology services by members of the Group to members of the BOCOM Group comprising the following: 1.
The Group pursues IPO sponsorship opportunities through its own network as well as from the BOCOM Group.
The transactions contemplated under the Financial Technology Services Framework Agreement will expand the Group’s business and provide cost synergies by integrating advantageous resources between the Group and the BOCOM Group, thereby reducing the aggregate operational costs and general expenses so as to improve profitability.
The principal activities of BOCOM and the BOCOM Group include corporate and personal banking services, interbank and financial market business, fund management, trustees, financial leasing, insurance, overseas securities, debt-to-equity swap, asset management and other financial services.
General terms : At any time during the term of the Financial Technology Services Framework Agreement, the relevant member of the Group and the relevant member of the BOCOM Group may from time to time enter into definitive agreements in relation to any transaction(s) under the Financial Technology Services Framework Agreement upon, and subject to, the terms and conditions being in compliance with those of the Financial Technology Services Framework Agreement.
No historical transaction amount is available as the Group had not previously provided financial technology services to the BOCOM Group.
In the initial stage of operations, it is expected that more than 80% of BOCOM Financial Technology’s business will be provision of services to the BOCOM Group.
Pricing policies : The service fees to be charged by the Group to the BOCOM Group shall be conducted on commercial principles based on the prevailing market prices in the finance industry.
The Group serves as fund manager, leveraging on the resources of the BOCOM Group to provide high-quality technology and innovation companies with full-scale comprehensive financial services.