As long as the bill of lading is authentic, you can take delivery of the goods. If it is found to be altered, you may be punished. If it is inconsistent with the letter of credit, you cannot settle the exchange. The act of an enterprise or individual settling foreign exchange purchases and sales according to the exchange rate. According to the needs of import business, professional import and export companies purchase foreign currency from professional foreign exchange banks and remit it abroad in their own currency according to the foreign exchange rate announced by the state, or use the foreign currency earned from exports.

Sold to the foreign exchange bank according to the listed price and converted into the local currency, in foreign trade, it is called foreign exchange settlement. my country's foreign exchange quotations are stipulated to be announced daily by the Bank of China, and foreign exchange management is also conducted by the Bank of China. The quoted price has a buying price and a selling price. The selling price is higher than the buying price, and the difference is the bank exchange fee, or exchange income. Extended information

If the document review is correct, the negotiating bank will purchase the beneficiary's (exporter's) draft and documents according to the terms of the letter of credit, and deduct the face amount from the date of negotiation to the estimated receipt The interest on the date of payment will be converted into RMB based on the exchange rate on the date of negotiation and paid to the foreign trade company. After the negotiating bank advances funds to the beneficiary to purchase the documentary draft, it becomes the holder of the draft and can claim payment from the paying bank with the draft.

The purpose of banks issuing export bills is to provide financing to foreign trade companies and facilitate the capital turnover of foreign trade companies. However, banks currently cannot fully guarantee the security of letters of credit, so this method of settlement is no longer commonly used.

Baidu Encyclopedia-Foreign Exchange Settlement