What Is The Way Of Settlement? What Are The Common Ways Of Clearing?

The so-called means of settlement refers to the procedures and methods of monetary receipt and payment between units (or individuals) in a certain form and condition.

The way of settlement is the specific organization form of settlement business and an important part of the settlement system.

The main contents of the settlement include: the place, time and conditions of the payment of commodity paction, the conditions for the pfer of the ownership of goods, the procedures and methods for the settlement of vouchers and their delivery.

The current bank settlement methods include: bank draft, commercial draft, bank cashier's check, cheque, exchange, entrust receivables, collection and settlement of seven different ways.

The seven settlement methods can be divided into two categories: bill settlement and payment settlement according to the different forms of settlement. According to the different settlement locations, they can be divided into three categories: City settlement, remote settlement and general settlement.

Among them, the way of urban settlement refers to the way of settlement of funds between banks or units in the same city, and the way of checking settlement and bank promissory note settlement.

The method of settlement in different places refers to the way of settlement of economic pactions between units and individuals in different towns and regions, including the settlement method of bank draft, the way of exchange settlement, and the method of settlement by different places.

The general settlement method refers to the settlement not only for the same city, but also for different towns and different regions, including the payment method of commercial draft and the way of settling accounts receivable. The commercial bill payment method can be divided into commercial acceptance bill settlement form and bank acceptance bill settlement method.

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