Foreign bills transaction advice

reena (reena9823@gmail.com) (165 Points)

11 February 2013  

dEAR cOLLEAGUES,

THe Foreign party remits money in foreign currency. However, the Indian Company bears the loss of bank charges.

THe company's books show bank charges account as credit amount sometimes.

The bank advice mentions 'Bank Charges/Int'

Is there a possibility that there could be bank interest amount that is credited in the situation that the foreign party remits the money.

Kindly reply soon.

Thanks in advance