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In broad sense--the international settlement
In narrow sense--international bank remittance
• Types:
Remittance:
Reverse remittance:
payer contract payee
payer contract payee
In cover, we have authorized A to debit our a/c
Remwk.baidu.comtting
and credit your a/c with them
bank
debit our a/c and Reimbursing Credit advice
credit paying bank a/c with you
International exchange
• International exchange refers to operational activities related with the currency conversion and transfer of funds between countries in order to settle the claims and debts by payment instruments through banks.
• Based on commercial credit
payee
③ paying
goods
remitter
①Application
Paying bank
② instruction Remitting bank
parties and their obligations
• 汇款人（remitter/importer）:
account with XYZ Bank, New York. Suppose an outward in
USD is made, then “cover instruction” ?
c.
In cover, we have authorized XYZ Bank, New York to
debit our account and credit your account with them
➢ Remittance application ➢ Submit the same amount of funds and commission ➢ For our country, submit documents required by SAFE
• 收款人或受益人（payee/exporter） • 汇出行(remitting bank)：
Vostro a/c
(1)in cover,we have credited
you’re a/c with us
Remitting bank (2)in cover,please debit our a/c Paying bank
with you
Nostro a/c
If there is no vostro or nostro account with each other,but the remitting bank can find a third bank,with which both the paying bank and the remitting bank maintain current account.
the concept of remittance
• A bank, at request of its customer, transfer a certain sum of money to its overseas branch or correspondent bank, instructing it to pay a named person domiciled in that country.
made, how do you write “cover instruction” for this
remittance?
b.
In cover, we have credited your account with us
b. Both remitting bank and paying bank have maintained USD
Bank A
Bank B
Bank A
Bank B
Reimbursement of remittance cover
• If the paying bank maintains a current account with the remitting
bank(1) or the remitting bank has a a/c with the paying bank(2)
bank A
Paying bank
Exercises:
please write “cover instruction” for each remittance below.
a. The paying bank has maintained an USD account with the
remitting bank. Suppose an outward remittance in USD is
• 汇入行或解付行（paying bank）：
➢ paying in strict compliance with the P.O. and authenticate the relevant signature or test key ;
➢ usually paying after its receipt of the funds from the remitting bank; ➢ clean payment; ➢ inward remittance
➢ payment order/P.O. （支付授权书)should be made out as instructed in the application and indicate the reimbursement of remittance cover ;
➢ outward remittance
