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Zorluk: ZorMeans of Payment in Foreign Trade

An international merchant in Abuja purchases textiles from a vendor in Shanghai. To settle the payment, the merchant instructs their local commercial bank to debit their account and transmit an immediate electronic credit instruction via the SWIFT network directly to the vendor's bank account in Shanghai. Which payment mechanism in foreign trade is being utilized in this transaction?

  1. Telegraphic TransferCevap
  2. B
    Usance Bill of Exchange
  3. C
    Foreign Bank Draft
  4. D
    Balance of Payments Adjustment

Cevap

Telegraphic Transfer
The scenario describes a direct electronic fund remittance transmitted between banks using telecommunications (SWIFT network). This defines a Telegraphic Transfer (or Cable Transfer), which is used in international trade to achieve rapid, direct financial settlement.

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1
Analyze the mode of financial transmission described in the scenario
The payment is executed via direct, high-speed electronic communication (SWIFT) between commercial bank accounts across international borders.
Identifying whether the payment relies on paper instruments, credit timelines, or electronic messaging is necessary to categorize the instrument.
2
Evaluate the definitions of foreign trade payment instruments
Telegraphic (Cable) Transfer is the rapid electronic transmission of monetary value between banks, whereas Bank Drafts are paper instruments and Bills of Exchange are negotiable debt instruments.
Telegraphic Transfer fulfills the requirement for fast, direct bank-to-bank electronic credit settlement in foreign trade.

Anahtar Kavram

Telegraphic Transfer as a Means of Payment in Foreign Trade
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Konular

Means of Payment in Foreign Trade

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