Funds Remittance/Assessment

Assessment
{The SWIFT System is -a type of bank guarantee to ensure payment. -the law governing funds remittance. +a method to communicate payment information between banks. -used to get the best US dollar exchange rate.
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{Funds remitted through a company check, drawn on a foreign bank will arrive in the seller’s account -immediately after the seller deposits the check. +when the foreign bank confirms and remits funds. -2-3 business days after the check is deposited. -after the buyer deposits the funds and approves transfer.
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{A wire transfer is used to remit funds +in a quick manner under the sales agreement. -before the goods are shipped. -before the goods arrive. -after the documents are sent.
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{Funds remittance and methods of payment are -are the same thing and can be used interchangeably. -never used together since they are confusing to a buyer and seller. -are used only in international transactions. +used together to ensure timely payment between buyer and seller.
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