When the investor has selected and confirmed the term they wish to invest for, RIMsec must enter the market to buy the bill/NCD on their behalf. To enable RIMsec to do this, the following steps must be completed.

Provide all necessary information to RIMsec

The following details must be provided to RIMsec:

• The investor(s) name - it is important, for legal reasons, to provide the correct name of the person in whose name the bank bill is to be held. In the case of a super or trust fund, the names of the trustees of the fund must also be provided.
• Residential and/or postal address and/or e-mail address.
• Investor's nominated bank account for repayment of the proceeds on sale of the security. Please note that this account MUST bear the same name as the investor(s) name.

Banking Funds

When buying a bank bill/NCD, the client must transfer sufficient funds by the settlement date to the following account:

Account Name: RIM Securities Ltd Client Trust Account

Bank: ANZ

BSB: 014-002

Bank: 4985 34666

Important: please note that funds must be CLEARED by the settlement date. This means that if a client is paying via cheque into the RIM Securities Limited Client Trust Account, then it must be deposited three days prior to the settlement date to allow for the funds to clear.

In some cases funds can also be made payable directly to the issuing bank after which RIM Securities Limited can establish the investment. The bank bills will be held in custody at the issuing bank.

The other alternative is to settle through the Austraclear settlement system. In order to be able to utilise this system, a client needs to be set up with a mnemonic code either of their own, or through a nominee company at their banking institution. If the deal is transacted through Austraclear, both the cash and stock ownership is transferred on the system and the stock is held in safe custody in this system.

When RIMsec sells a bank bill on behalf of a customer, proceeds from the sale will be transferred to the bank account nominated by the client, provided the account is in the same name as the bank bill investment.

Written instructions

If funds are banked into RIMsec's Client Trust Account, RIMsec's legal and compliance procedures require us to receive written instructions from clients' authorising RIMsec to withdraw this money in order to make payments for executed transactions. An authorised representative will provide clients with the written instructions document that must be signed and returned to RIMsec prior to settlement.

Contract notes

On the settlement date, RIMsec will post (and/or email) a contract note to the client at the address provided. This is confirmation of the trade and includes all relevant details relating to the purchase of the bank bill including the issuer, investor(s) name, term, yield, face value and consideration.

Custody of certificates

When a bank bill is purchased it will be held in safe custody at the issuing bank or in Austraclear, depending on the method of settlement.

Repayment or rollover of the bank bill on maturity

On maturity of the bank bill, a RIMsec authorised representative will contact you to obtain your instructions to either rollover the bill for a new term and at a new rate; or to arrange for the repayment of the maturing proceeds to the account that you nominated when the bill was initially purchased. RIMsec will provide confirmation of the new instructions.