《国际商贸》英语Chapter 7 Remittance.ppt

* * Chapter 7 Remittance Remittance Introduction Application * 7.1 Introduction According to the direction of the movement of the instruments in relation that of the funds flow, payments can be classified into two types : remittance and reverse remittance . * Remittance Remittance indicates the funds flow in the same direction as the credit Instruments transmitted therefrom. * Reverse Remittance Reverse remittance indicates that the funds flow in an opposite direction of the credit instruments transmitted therefrom. * Definition and Parties Remittance refers to that a bank (the remitting bank ),at the request of it’s customer（the remitter ),transfers a certain sum of money to its overseas branch or correspondent bank( the paying bank ), instructing it to pay to a named person (the payee /beneficiary ),domiciled in that country . Remitter Remitting Bank Paying Bank Beneficiary or Payee * Parties in Remittance Remitter A remitter is the party who will make the payment. He is the person who requires his bank to remit funds to the beneficiary. In international trade, he is often the buyer or the importer. Beneficiary or payee The beneficiary or payee is the person who is addressed to receive the funds by remittance * Parties in Remittance Remitting bank Remitting bank is the bank who remits the funds at the request of a remitter to the paying bank and instructs the latter to pay a certain amount of money to a beneficiary. Paying bank A paying bank is the bank entrusted by the remitting bank to pay a certain sum of money to a beneficiary. * Outward and Inward Remittance When the home bank is acting as the remitting bank the remittance handled by him is called an outward remittance . When the home bank is acting as the paying bank ,the remittance handled by him is called an inward remittance . * Types of Remittance Remittance by airmail (M/T) Remittance by telegraphic transfer (T/T) Remittance by banker’s demand draft (D/D). * Remittance by Airmail Procedu