Each company is required to sell a portion of the proceeds in foreign currency before it gets to the foreign currency account.The full client's income in foreign currency placed on the transit account, which is made mandatory sale of part of the amount, and perform other necessary operations.
After an exchange of the national currency arrived at this amount goes to the account of the customer's bank.After depositing funds can be distributed at their discretion.To carry out the operation of sale and transfer of the credit institution can only be based on the appropriate application for the sale of a certain amount.In addition, the transit account for reckoning with counterparties, settlement held in foreign currency.The exceptions are considered to be cash, attributable to the profit and loss account.
Transit account can be useful to a legal entity in its relations with residents or non-residents of the country.Often, it is used in payment transactions with forwarding, transport and insurance companies, which are non-residents of the country, as well as for the return of the sums in the currency of the movement of goods in a foreign country.Transit account is used by banks when transferring the costs of customs clearance and transportation of the border.A small portion of the amount debited from this account as a commission fee to the credit institution for the timely and quality execution of client orders.
In order to open a bank account in a foreign currency, the entity must provide a specific set of documents confirming his status and an application for opening a foreign currency account.Thus to account for each currency transit account is opened automatically for the compulsory sale of a part of profit.
Recently, more and more people decide on the need for investment of temporarily free funds in assets, such as securities on the Stock Exchange.But as a rule, look for a profitable project and its further implementation is not possible due to lack of time.To help the entity offers services brokerages or individual agents.For a successful tandem need to open a brokerage account, which reflects every movement of funds.
Thus, the legal person can easily keep track of all actions of the broker and not to worry about losing money.A broker, in turn, is able to carry out all necessary operations without council funds with the owner.In rare cases, agents of brokerage firms have the right to use the free balance on the account for personal needs with the duty of subsequent return in full and in due time.In addition, the entity is not liable for the broker, so agents do not have to use cash to pay for customer requirements to them.
Opening the currency and, accordingly, the transit account, the entity enters into agreement with the bank, which sets out the basic provisions for management of the account.For example, the agreement designated period of account statements, the person who can manage money, and identifies samples of their signature and seal of the company.After receiving the transit account client is obliged to provide a statement on the mandatory sale of the revenue.And also is required supporting documents confirming the source of the funds, and you must do it within the next seven business days.First, they are sent to the control unit, which confirms their authenticity and accuracy of the then filed documents of the client.
