Selection of the Clearing Bank

What happens at this stage

A Clearing House Member selects a bank from the List of banks to act in the capacity of its Clearing Bank (CB) and starts cooperation with that bank.

Documents

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The Clearing House Member completes and sends scans of the documents to IRGiT at: @email to verify whether the documentation has been filled out correctly.
After the provided scans have been approved by IRGiT, the Clearing House Member promptly delivers the signed original documents to IRGiT.

Upon IRGiT’s request, Deutsche Bank will generate the second set of documents for the Clearing House Member, which will be prepared on the basis of data presented in the “Statement of the Clearing House Member on the bank account number” and the “Statement of the Clearing Bank”.
IRGiT delivers the second set of documents to the Clearing House Member for signing. The signing of this set of documents is necessary for efficient technical communication between the accounts used in the settlement process. The signing of this set of documents also gives IRGiT the right to submit orders debiting the Member’s Clearing Bank Account in the Clearing Bank, designated in the “Statement of the Clearing House Member on the bank account number” and the “Statement of the Clearing Bank” for cash clearing with IRGiT.
the Clearing House Member promptly delivers the signed original documents to IRGiT.

Deutsche Bank configures appropriate accounts in its banking systems.
IRGiT and Deutsche Bank and the Clearing Bank selected by the Clearing House Member perform general tests using the Member's clearing bank account in the Clearing Bank. The performance of general tests requires the Clearing House Member to submit the “Statement of the Clearing House Member concerning general tests”.

IRGiT will keep the Clearing House Member informed about the details of each stage of the process on an ongoing basis.