Description:

Facilitates foreign exchange payments from suppliers.

Appears in:

• Acquisition Leveraged Finance
• Certificate of Deposit (Broker Acting on Behalf of Client)
• Certificate of Deposit (Direct Interaction with Clients)
• Deposit
• Deposit (Direct with Client)
• Deposit (via Broker)
• Discounting of Receivables With or Without Recourse
• Dual Currency Deposit (DCD)
• FX Prime Brokerage (Continuous Linked Settlement)
• FX Prime Brokerage (Non-Continuous Linked Settlement)
• FX Spot
• FX Swap
• International Services
• Inventory Financing
• Letter of Credit and Guarantee Syndication
• Receivable Purchase Facility
• Warrant

Addressed by:

• Approval to Receive 3rd Party Payment: Compliance approval is required to receive 3rd party payment.
• Bank to Bank Transfers (Low Risk Jurisdictions): Payment can only be made via bank-to-bank transfers from countries with strong AML controls (typically low-risk jurisdictions).
• Know Your Business (KYB): Includes taking steps to gain an understanding of a customer's business activities, including the nature of the business to be taken with a bank and the anticipated volume and value of the business.
• Transactional Due Diligence (TDD): Conducts a detailed examination of specific transactions identified as being higher risk.