International trade settlement includes the following:
Outward remittance is a telegraphic transfer settlement method adopted by the Bank when the Bank has received the entrustment from the client and has paid the purchase price, capital, transportation fees, bonuses, commissions and other expenses through overseas correspondent banks.
Inward remittance is a settlement method by which the foreign remitter transfers foreign exchange to the payee through the bank.
Import L/C is a document which is issued by the Bank (the issuing bank) to the seller (the beneficiary) according to the requirements and instructions of the buyer (applicant) and meets the terms of the L/C within a certain period of time, that is, or a written promise to pay a certain amount on a definite future date.
Import collection is a service in which the Bank presents a document to the payer (importer) according to the instructions of the remitting bank (overseas bank), and delivers the documents to the importer when making payments or promising to do so. According to the documents release conditions, it is classified into documents against acceptance (D/A) and documents against payment (D/P).
Export collection is a settlement method by which the Bank, as a remitting bank, acts as an intermediary and instructs the remitting bank to issue documents after a foreign client has made payments or accepted the drafts through its foreign correspondent bank and smooth fund transfer channels depending on the commercial credit between the principal (exporter) and the payer (importer), and is classified into documents against acceptance (D/A) and documents against payment (D/P).
Cross-border RMB service refers to cross-border settlement service and related financial services denominated in RMB and used as a means of payment.