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Before any financial transaction is made, the bank account should be confirmed to ensure that the payment will be transferred to the correct beneficiary. In this unit two of those source documents for verification of the account, the Bank Account Opening Certificate and the Bank Account Statement are discussed in detail. In regards of processing telegraphic transfer payments made by foreign enterprises to companies located in mainland China focus goes out to checks and cross referencing of information which should be performed to ensure the payment is made to the correct company before processing a payment.
Upon completion of this module you will have developed a deeper understanding of: