andshort-termfinancing(跨國(guó)公司財(cái)務(wù)管理-joseph(存儲(chǔ)版)
【正文】 ces b. Mobilization centers c. Lock boxes d. Electronic fund transfers 7 INTERNATIONAL CASH MANAGEMENT 3. Methods to Expedite Cash Payments a. Cable remittances b. Establish accounts in client’s bank c. Negotiate with banks obtain value dating 8 INTERNATIONAL CASH MANAGEMENT E. Payments Netting 1. Definition: offset payments of affiliate receivables/payables so that amounts only are transferred. 2. Create Netting Center a. a subsidiary set up in a location with minimal exchange controls 9 INTERNATIONAL CASH MANAGEMENT 2. Netting Centers (con’t) b. Coordinate interaffiliate payment flows c. Center’s value is a direct function of transfer volume. 10 INTERNATIONAL CASH MANAGEMENT F. Excess Funds Investment 1. Major task: a. determine minimum cash balances b. shortterm investment of excess balances 2. Requirements: a. Forecast of cash needs b. Knowledge of minimum cash position 11 INTERNATIONAL CASH MANAGEMENT 3. Investment Selection Criteria: a. Government regulations b. Market structure c. Foreign tax laws G. Optimal Global Cash Balances 1. Establish centrally managed cash pool 2. Require affiliates to hold minimum 12 INTERNATIONAL CASH MANAGEMENT 3. Benefits
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