report on foreign operations

Essay specific features

 

Issue:

Business

 

Written by:

Frank A

 

Date added:

April 5, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

19 / 5164

 

Was viewed:

8875 times

 

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Essay content:

The department reports to the General Manager, Systems and Operations. FUNCTIONS Services offered by the department are performed through four units Trade finance, foreign services, advisory services and reconciliation of returns. The Foreign services are as follows; • Clean collections (cheuques for collection) • Outward remittances and draft issuance • Inward remittances The Trade Finance products are also as follows, • Documentary collections(import) • Documentary collections(export) • Documentary credits(import) • Documentary credits(export) Clean Collections This is a means of collection of financial instruments not supported by commercial documents, both local and foreign on behalf of our customer e...
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cheques and bills of exchange (drafts). They fall under the following categories: i. Local Collection/Settlement –these are in house cheques issued by our customers to customers of other banks. The collecting bank brings the cheque for collection. Upon receipt of these cheques, details such as the signatures are verified, amount in figures and words, dates etc are checked...
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