|
Name
Outward Remittance
Introduction
Entrusted by remitter, Bank of China Rotterdam Branch commission correspondent bank or agency bank to transfer the remittance to designated receiver in agreed remittance manner, so as to meet the cross-border fund transfer and settlement need of customers. Telegraphic transfer is the preliminary remittance manner.
Features
1. Low cost. Compared with L/C and collection, the cost for remittance is lower.
2. Quick process. Telegraphic transfer is relatively rapid and can therefore help exporters collect payments in time to speed up the turnover of funds.
3. Simple procedures. Remittance has simple procedures and is widely applicable.
Scope
1. When an importer has sufficient working capital and in need of controlling financial cost instead of obtaining financing convenience, the outward remittance can be adopted for settlement;
2. Under trade settlement, when an exporter accepts cash on delivery condition while having high requirements on collection speed, the outward remittance can be adopted for settlement;
3. The outward remittance can be adopted for settlement when importer is in good cooperation with exporter and willing to pre-pay for the goods.
4. The product is applicable to the fund transfer within a group or between parent company and subsidiary.
Required Documents
1. Customers shall sign General Contract for Facsimile Authorization with Bank of China Rotterdam Branch;
2. The Branch shall handle the outward remittance based on the payment instructions of fax.
|
