文档介绍：Chapter 3 Remittance
经贸学院国际贸易系
objectives
Definition
Parties
Three types and parison
Utilization in international trade
经贸学院国际贸易系
Definition
Remittance refers to the transfer of funds from one party to another among different countries through banks. At the request of its customer, a bank transfers a certain sum of money to its overseas branches or correspondent banks and instructs them to pay a named person or corporation domiciled in that country.
经贸学院国际贸易系
Parties involved
lThe remitter: the person who requests his bank to remit funds to a beneficiary in a foreign country. The remitter is also the payer.
经贸学院国际贸易系
The remitting bank
the bank who transferring funds at the request of a remitter to its correspondent or its branch in another country and instructing the latter to pay a certain sum of money to a beneficiary.
经贸学院国际贸易系
The payee
the person who is addressed to receive the remittance
经贸学院国际贸易系
The paying bank
the bank entrusted by the remitting bank to pay a certain sum of money to a beneficiary named in the remittance advice.
经贸学院国际贸易系
Types
l T/T (Telegraphic Transfer)
Remittance by cable/telex/SWIFT is often referred to as cable transfer or telegraphic transfer, namely T/T.
经贸学院国际贸易系
diagrame
经贸学院国际贸易系
Procedure
(1) The remitter makes out the necessary application form and gives his signed written application to his bank instructing it to issue a T/T, indicating the beneficiary’s full name, address and the name of beneficiary’s banker (if any).
经贸学院国际贸易系