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Outward Remittance
2017-10-26
(I) Product function
The Remitter entrusts our Bank to pay a certain amount of money to the designated Payee to meet the needs of international capital transfer and settlement.
(II) Business characteristics
1. The expense is less. Compared with L/C and collection method, remittance has the characteristics of simpler procedure and lower expense.
2. The speed is fast. The telegraphic transfer speed is faster, which is beneficial for exporters to receive payment in time and accelerate the speed of capital turnover;
3. The operation is easy. The operation is simple and easy, and the scope of application is wide.
(III) Applicable objects
1. Importers with sufficient working capital;
2. Importers whose counterparties accept the conditions of cash on delivery under trade settlement but with higher requirements for the speed of collection;
3. Importers who have a good cooperative relationship with the exporter and mutual trust and are willing to accept the conditions of payment in advance;
4. Importers who are required to pay information fee, technical fee, trade ancillary fee (including freight and insurance).
(IV) Business procedure
1. The clients submit the application form and relevant background information of outward remittance to our Bank;
2. Our Bank checks the remittance information, prepares the remittance message and sends it to the outside world;
3. The Payee receives the payment.
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