本网站支持IPv6 |Contact Us | 中文
Corporate Banking

FX Settlement and Sale

Introduction

Settlement of foreign exchange is an action that the FX designated bank buys FX of the owner of FX earnings with the RMB exchange rate determined by both parties, and pay equivalent RMB on delivery date.

The sale of foreign exchange is an action that FX designated bank sells FX to FX users, and receive equivalent RMB at delivery date with the RMB exchange rate determined by both parties.


Scope of application

It's applicable to unit operating importing & exporting business, individual with the need of buying and paying FX by FX earnings.


Features

Meet the requirements of international trade settlement for import and export enterprise, and the FX requirements of individual customer for different applications.


Procedures

1. Settlement of foreign exchange

The settlement of foreign exchange should be handled based on state specified principle and requirements for settlement of foreign exchange: For FX earnings of domestic institution, the bank must separate capital item and current item. Under current item, the bank must separate trade item processing and non-trade item processing. Current item FX earnings without provision or approval of retaining FX must handle foreign exchange settlement business. Capital item FX earnings without provision or approval of foreign exchange settlement can not handle foreign exchange settlement business. FX earnings of current item without certification should be handled according to relevant provisions of capital item FX settlement.

2. Sale of foreign exchange

textThe sale of foreign exchange should be handled based on state specified principles and requirements for settlement of foreign exchange: For FX earnings of domestic institution, the bank must separate current item and capital item, among which FX settlement expenditure of the capital item can be handled with approval document of exchange office, and FX settlement expenditure of the current item can be handled with valid documentation for FX settlement expenditure or approval document of exchange office.

(Note: For details, please call 961 111 or come to the nearby GRCB outlet.)

Call Centre 961111 Micro Loans Services

© Guangzhou Rural Commercial Bank. All Rights Reserved. 粤ICP备11046781号