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Author Question: Different country standards, such as safety regulations, add complexity to whether companies decide ... (Read 22 times)

neverstopbelieb

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on: Jul 7, 2018
Different country standards, such as safety regulations, add complexity to whether companies decide to use a globally standardized product.
 
  Indicate whether the statement is true or false

Question 2

What is a correspondent relationship between banks? What services are performed by correspondent banks?
 
  What will be an ideal response?
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frankwu0507

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Reply #1 on: Jul 7, 2018
Answer to Question 1

TRUE

Answer to Question 2

A correspondent relationship is an agent relationship whereby one bank acts as a correspondent, or agent, for another bank in the first bank's home country, and vice versa. Correspondent banks provide various services including paying or collecting foreign funds, providing credit information, and honoring letters of credit.


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