International Payment in Vn
Methods of International Payment in Vietnam | May 11
2012
| ACB |
ASSIGNMENT:
DOCUMENTARY COLLECTION IN ASIAN COMMERCIAL BANK (ACB)
I. The necessary of international payment 1. Definition:
International payment is the process executing obligations to payment and entitlements to benefits of money which results in economic and non-economic activities between organisations, individuals of different nationalities or between a nation and an international organisation through banks of related partners. 2. Roles of international payment
For the economy
International payment activity plays an important role in the economic development of the country. A country cannot develop with closed policy, or only basing on the internal accumulation and exchange. It must develop comparative advantages and combine the power of the country with the international economic environment. In the current context when countries are putting external economic forefront, considering the external economic activity as the essential way in the development strategy of national economic activity, the role of international payment is increasingly confirmed.
International payment is an important link in the chain of national economic activities. International payment is an important step in trading goods and services between individuals and organizations of different countries. This contributes to settling the relationship between commodity and currency, creating a continuous production process and hastening the circulation of goods process on an international scale. If international payment activities are conducted fast and safe, the circulation of goods and monetary between buyers and sellers will be smooth and more secure.
International payment increases economic exchanges relationships between countries, makes the payment process fast, safe, convenient and reduces costs for participants. Besides, international payment activity increases the volume of non- cash payments in the
2012
| ACB |
ASSIGNMENT:
DOCUMENTARY COLLECTION IN ASIAN COMMERCIAL BANK (ACB)
I. The necessary of international payment 1. Definition:
International payment is the process executing obligations to payment and entitlements to benefits of money which results in economic and non-economic activities between organisations, individuals of different nationalities or between a nation and an international organisation through banks of related partners. 2. Roles of international payment
For the economy
International payment activity plays an important role in the economic development of the country. A country cannot develop with closed policy, or only basing on the internal accumulation and exchange. It must develop comparative advantages and combine the power of the country with the international economic environment. In the current context when countries are putting external economic forefront, considering the external economic activity as the essential way in the development strategy of national economic activity, the role of international payment is increasingly confirmed.
International payment is an important link in the chain of national economic activities. International payment is an important step in trading goods and services between individuals and organizations of different countries. This contributes to settling the relationship between commodity and currency, creating a continuous production process and hastening the circulation of goods process on an international scale. If international payment activities are conducted fast and safe, the circulation of goods and monetary between buyers and sellers will be smooth and more secure.
International payment increases economic exchanges relationships between countries, makes the payment process fast, safe, convenient and reduces costs for participants. Besides, international payment activity increases the volume of non- cash payments in the