Offshore foreign exchange transactions serve customers who own offshore account in banks. The types of transactions include forward foreign exchange transactions, spot foreign exchange transactions, foreign exchange swap transactions, ultra-forward foreign exchange transactions and foreign exchange options transactions. The trading currency of offshore foreign exchange transactions is a freely convertible currency, and the amount of a single transaction is generally not less than 50,000 US dollars. Banks can determine the minimum trading limit according to the specific circumstances such as trading demand. Its business procedures include specific procedures, such as the procedures for enterprises to apply to banks and the procedures for banks to accept the entrustment of enterprises.
Among them, the procedures for enterprises to apply to banks, when customers go to banks to handle foreign exchange transactions, they need to submit applications and letters of guarantee signed by authorized personnel, and some customers also need to submit trade contracts or economic agreements related to transactions; Procedures for banks to accept entrustment from enterprises. After receiving the application form and letter of guarantee, the bank can check the type, amount, exchange rate level, feasibility of settlement date, whether the deposit is implemented and whether the offshore deposit account of the customer is correct. After meeting the requirements, you can accept foreign exchange trading on behalf of customers.