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Name
Spot Teansaction of Foreign Exchange
Characteristics
Spot Transaction of Foreign Exchange refers to the foreign exchange transaction settled on the bank working day .Bank of China can conduct foreign exchange dealings concluded on the same day with interest being calculated
Functions
Spot Transaction of Foreign Exchange is the most essential form in foreign exchange dealings.
Target Customers
Any customer with the need of transaction of foreign exchange
Procedures for handling such transactions
1.The clients shall open accounts with bank of china.
2.Fill out the application form for the transaction of foreign exchange hedging according to requirements, the application form must be signed by the legal representative of an enterprise or by an authorized person and then make inquiries about the offer made by the bank for trading.
3. Prices for foreign exchanges trading will be determined by the Bank by reference to prices in the international market. Once the customer accepts the Bank's price, the transaction concludes. The customer may not ask for change or cancellation of the transaction, otherwise the losses or expenses arising thereby will be borne by the customer.
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