The three types of foreign exchange settlement at Alibaba International Station are T+0, T+1, and T+2.

The way of foreign exchange settlement at Alibaba International Station is relatively professional. In most cases, I suggest that users reserve at least three working days to complete foreign exchange settlement and various account operations in this way. The reason for this is that the settlement of foreign exchange itself has a certain time limit, and it also needs to meet the corresponding transaction requirements. Three working days can meet the transaction rules in most cases, and there will be no unnecessary troubles due to transaction problems.

Three types of foreign exchange settlement at Alibaba International Station:

Export documentary credit: that is, the "negotiation" practice commonly used by international banks, also known as purchase settlement, which means that the negotiating bank purchases the bills and documents of the export unit according to the terms of the letter of credit after the documents are reviewed correctly, deducts the interest from the negotiation date to the estimated date of receipt of the bill from the face value, and converts the remaining amount into RMB according to the foreign exchange rate on the negotiation date, and allocates it to the export enterprise.

Receipt and settlement: It means "collect first and settle later", that is, after the negotiating bank of the letter of credit receives the export documents of the export enterprise, it will send the documents to the foreign paying bank for payment after checking and verifying that they are correct. When it receives the credit notice from the paying bank that the payment will be transferred to the negotiating bank's account, it will convert the payment into RMB according to the exchange rate at that time and transfer it to the export unit.

Regular settlement: The negotiating bank predetermines a fixed settlement period based on the time required to claim compensation from the foreign paying bank, and agrees with the export enterprise that after the expiration of the period, regardless of whether it has received the payment from the foreign paying bank, it should actively convert the bill amount into RMB and transfer it to the export enterprise.