Remittance Services. We are registered as a remittance business in Singapore. We are not a deposit taking institution.
Remittance Services. 25.1 The Bank shall use reasonable care and skill in providing the Remittance Service and shall seek to execute the remittance on the business day that Bank receives the remittance application unless a later date is specified in the application, provided that the application is received prior to the applicable cut-off time at Bank's service location. Where a remittance application cannot be executed on the same day it is received the Bank may execute the remittance on the next business day. The client agrees that remittance may take longer than one business day to execute.
Remittance Services. (a) The Customer is solely responsible for providing accurate information regarding the receiving party to the Bank for making out-going fund transfer. The Customer acknowledges that the Bank is acting solely as the Customer’s agent when providing out-going fund transfer. The time of availability of funds at the receiving end of an out-going fund transfer is subject to the location and the banking practices of the receiving party.
Remittance Services. We also provide remittance services on behalf of you to third-party recipients, in accordance with your instructions. The details of our remittance services are set out in Clause 8 herein.
Remittance Services. For Online Services, we have two types of remittance: regular remittance (hereafter referred as “remittance”) and RMB pre-settlement remittance. For regular remittance, we only accept requests in US dollars. For RMB pre-settlement remittance, it allows a customer to convert USD into RMB at the Branch first and then wire transfer RMB to accounts in China. By using this service, a customer can remit RMB to any payee's accounts other than their own account. There is an aggregate annual limit of $50,000 on this service. Further, the customer must provide the Bank with the payee's identification number in China. The limitation is based on the calendar year (January 1 through December 31). In addition, both types of remittance requests through Online Services have the following limits and features: • The daily-accumulated amount of all Remittance requests should not exceed $50,000. • Each Wire Transfer request made online is charged a fee of $18 per transaction ($2 less than wire transfer requests made offline). • The Wire Transfer online request will generally be processed within three (3) business days after we receive your request. • Overdraft on the available balance on your source account is prohibited. When you request a Wire Transfer to be made using BOCNET, you will be required to designate one of your eligible Bank accounts as the source for that transaction. You will also be required to supply other information as described below, including the name of the recipient (“Beneficiary”), address, bank address and routing number, and account number. In addition, certain fees, conditions, representations and warranties, and other requirements apply to all wire transfer requests, as set forth in the “Wire Transfer” section below. When we receive a wire transfer request, we will examine the request, and if we accept it, we will so advise you and well execute the wire transfer, subject to the qualifications, conditions, and requirements set for in the “Wire Transfer” section below. Upon your request for a Wire Transfer, you authorize the Bank, and any agent used by the Bank in connection with BOCNET, to charge your source account, and if necessary other Bank account(s), for the Wire Transfer and all fees and other related charges. The Bank will not accept any Wire Transfer request if there are insufficient available funds in your designated source account. You agree to maintain sufficient available balances in your designated source account to cover all requeste...
Remittance Services. All Remittance request will be processed within three Business Days. All Remittance initiated on non-Business Days will be processed within the next three Business Days.
Remittance Services. 2.1 The Seller shall procure that each Relevant Seller shall charge the Relevant Buyer for payments made by the Relevant Seller that are properly due from, and payable by, the Relevant Buyer and the Buyer shall procure that each Relevant Buyer shall pay such charges in accordance with, and in the manner, specified in the Relevant Seller’s normal terms of business. The Relevant Seller shall only be permitted to make such payments for the benefit of, or on behalf of, the Relevant Buyer to satisfy obligations, which have been mutually agreed upon in advance by the parties.
