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How to understand "custody on behalf of"
Trust institutions, banks, trade warehouses and other institutions (custodians) use their own storage facilities to keep customers' valuables, securities or commodities on their behalf. The trust business of trust companies, banks and other financial institutions is mainly to keep all kinds of securities, jewelry, precious handicrafts, artworks, cultural relics and important documents and materials on behalf of customers. The custody of financial institutions can be divided into two ways: direct custody and renting safe deposit boxes.

Extended data

Guardianship type

1. Rent a safe.

Customers apply to the Trust Department to rent a safe deposit box and put their valuables directly in the safe of the Trust Department's vault. This is a custody service based on the trust institution's own reputation and facilities.

2. Unpacking custody business

Unsealed storage means that the stored items are not sealed, but stored in the form of exposed packaging. The trust institution that accepts custody can understand its contents and be responsible for the quality of the custodian.

3. Sealed custody business

In the case of complete storage, the customer will add packaging to the storage items, seal them, store them in packages or boxes, and return them as they are.

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