This page describes the customer due diligence, anti-money laundering, counter-terrorist financing and compliance verification principles applied by CNCredit Financial Institution.
This AML / KYC declaration explains that CNCredit Financial Institution may request additional information and documents in order to identify the client, the legal representative, the beneficial owners, the purpose of the business relationship, the source of funds and the guaranteed transaction or obligation.
The applicant confirms that it will provide correct, complete and up-to-date data regarding the company, the legal representative, the shareholding, the control structure, the beneficial owners, the beneficiary of the guarantee and the purpose of the request. CNCredit reserves the right to request further supporting documents and to perform compliance checks.
The applicant declares that it will inform CNCredit without delay if the applicant, the legal representative, the beneficial owners or any person directly or indirectly controlling the company are politically exposed persons (PEPs), persons associated with them or persons listed under sanctions regimes. The applicant also declares that the funds, the business activity and the guaranteed transaction are not related to money laundering, terrorist financing, weapons proliferation, sanctions evasion or any other illicit activity.
Depending on the nature of the request, CNCredit may request documents regarding the source of funds, origin of assets, the underlying contract, procurement documentation, ownership structure, financial statements, relevant extracts, licences, permits or any other documents considered necessary for risk analysis.
CNCredit may refuse, postpone or suspend the review and issuance of the guarantee if the information provided is insufficient, contradictory or non-compliant, if there are suspicions regarding the true identity of the parties, the beneficial owners or the purpose of the operation, or if there are AML / CFT / sanctions risks incompatible with internal policies and the applicable legal framework.
Throughout the contractual relationship, the client undertakes to notify CNCredit without delay of any relevant change regarding company data, legal representative, beneficial owners, involved jurisdictions, subject matter of the contract, source of funds or any other element that may affect the risk profile.
