国际结算chapter 5.ppt

Characteristics of T/T The most efficient means with the payment instruction transmitted by telex/SWIFT In any major currency for any amount A fast and accurate way to transfer funds abroad A secure way of remitting funds of substantial amounts payable to a specific beneficiary To facilitate payments on a regular basis by means of a standing instruction 5.2 Means of Remittance 5.2.1 M/T 1、 Definition The remitting bank transfers the funds by mailing. 5.2 Means of Remittance 5.2.1 Means of Remittance—M/T 2、Procedure Remitter （Debtor） Payer（Creditor） Paying bank Remitting bank 1.Remittance Application 3.Effect Payment 2.Payment Order by post 5.2 Means of Remittance 1、Definition On the request of the remitter, the remitting bank draws a demand draft on its correspondent bank ordering the latter to pay on demand to the payee upon presentation . 5.2.2 D/D Draft 5.2 Means of Remittance 5.2.1 Means of Remittance—D/D 2、Procedure Remitter （Debtor） Payer（Creditor） Paying bank Remitting bank 2.Issue Draft 1.Appication 4.Present Draft 5.Effect Payment 6.Claim 3. Forward Draft Items T/T M/T D/D Methods of transfer Cable/Telex/SWIFT Airmail Mail or carried by remitter Time of transfer Fastest Slow Method of authentication Test key of SWIFT, Authentication key Authorized signature Authorized signature Security Quite safe Reliable, but may be lost in post Stop-payment is time consuming Charge High Low Lowest Comparison of the M/T, T/T and D/D P84 5.3 Payment Transaction by T/T 一、Cover Payment Method 二、Serial Payment Method 三、Guideline to Interbank Compensation 5.3 Payment Transaction by T/T 一、Cover Payment Method 1、MT100 payment order to the beneficiary’s bank; 2、MT202 payment order to its bank with nostro account to instruct the bank to debit its account and credit the U.S. bank with nostro account of the beneficiary’s bank. 5.3 Payment Transaction by T/T 一、Cover Payment Method 5.3 Payment Transaction by T/T 一、Cover Payment Method 1、Only One “Inst