How To Handle Remittance Under Exchange Settlement

For remittance, the remittance requires the remittance of the remittance. If the remittance is directly remitted to the deposit account of the receiving unit, the remittance will be contacted by the remittance unit, and the bank will not intervene.

If the remittance is not directly remitted to the deposit account of the recipient unit, the remittance unit will prepare the official letter or hold its identity card together with the original letter and telegraphic pfer certificate to return the application for remittance. The remittance bank will notify the remittance bank by the remitting bank, and if the remittance bank has verified that the remittance has not been paid, the remittance can only be processed; if the remittance has been paid to the payee's account or is taken away before the remittance bank receives the remittance notice, the remittance person and the payee will contact the remittance procedure himself.

If the remittance is rejected by the receiving unit, the remittance bank will immediately withdraw the remittance.

The remittance is more than two months, and the payee will remit the money to the bank in the future, or enter the bank within the specified time limit to send the notice. But because the payee's address migration or other reasons caused the remittance to be unattended, the remittance bank will take the initiative to handle the remittance.

The remittance unit has received the remittance note of the remittance bank, which is issued by the remitting bank, which applies for remittance of the remittance note (which is applicable to the remittor to apply for repatriation) or the words "repatriation" affixed to the remittance bank, and remitted the special pfer credit certificate (which is applied to the bank's active withdrawal) after the bank has stamped the "pferred payment" chapter, which means that the remittance has been returned to the account of the unit.

The accounting department can prepare the receipts for bank deposits accordingly, and its accounting entries are contrary to the entry of payment certificates of bank deposits at the time of remittance.

To sum up, the procedures for exchange settlement are shown in Figure 5-3:

Remittance payee

(1) entrust a bank for remittance. Second, the bank accepts the return slip.