chapter3 Remittance概要1.pptxVIP

International Settlement Chapter3 Remittance Chapter 3 Remittance 3.1 Introduction of Remittance 3.2 Basic Parties to Remittance 3.3 Types of Remittance 3.4 Reimbursement of Remittance 3.5 Cancellation of Remittance 3.6 Application of Remittance 3.1 Introduction of Remittance Remittance , as a frequently used payment method in international trade ,refers to funds from one party to another among different countries. According to the flow direction of instrument and fund , remittance in broad sense can be classified into remittance in narrow sense and reverse remittance. 1.Remittance Importer Exporter Importer Exporter instrument fund instrument fund 2.Reverse Remittance 3.2 Basic Parties to Remittance 1 Remitter Remitter is also called the payer.It is a person who requests his bank to remit funds to the payee or the beneficiary a foreign country. 2 Remitting Bank Remitting Bank is the bank that transfers funds at the request of remitter to its correspondent or branch in another- country and instructs the latter to pay a certain amount of money to the beneficiary. 3.2 Basic Parties to Remittance 3 Paying Bank Paying bank is the bank that is entrusted in the payment instruction by the remitting bank to pay a certain amount of money to the payee or the beneficiary. 4 Payee Payee is also called the beneficiary. It is the person who is addressed to receive the remitting fund. 3.3 Types of Remittance Generally speaking , there are three different type of remittance.they are telegraphic transfer(T/T) , mail transfer(M/T) and demand draft(D/D). 1 Telegraphic Transfer(T/T) Telegraphic transfer means the remitting bank sends its payment order to the paying bank by cable/telex/SWIFT. It is the most efficient and safest way to transfer fund. The procedures of telegraphic transfer Remitter Remitting Bank Beneficiary Paying Bank sign t