Definition
Financial institutions that draw deposits from all have been authorized by other market participants to settle the bonds on their behalf.

Applicable Clients   
Small-and-medium banks and non-banking institutions.

Price
An agency commission of not more than 10,000th of the face value of the settled bond, a fee of RMB 500 paid to Central Clearing and Settlement Company for opening the account and a fee of RMB 100-200 for each transaction.