Business : 20161217060911international Business 1

Running head: essay1EssaysStudents NameInstitutional Affiliation2EssaysExplain why so many international transactions require international trade creditfacilitated by commercial banksIntroductionInternational transactions are conducted on a day to day basis today, with billions worthof products and services being exchanged for money. International transactions however differfrom other transactions due to the wider divide between those involved. The difference comingin not only due to the geographical distance from the others but also due to the different policies,trade tariff and even currencies in the different countries across the world. The most delicate partis where these differences are reconciled so as to enable smooth transaction. The differentcountries also suggest that those taking part in the trade would have to trust foreign people toconclude transactions as required, whether delivering or making payments. This necessitates theneed for an intermediary.BodyCommercial banks act as intermediaries between the exporters and importers; theyreconcile currencies, provide financing where needed, provide information to the partiesinvolved and make trade transactions on behalf of the parties involved.Reconciliation of currenciesCommercial banks deal in foreign exchange; international transactions may involve differentcurrencies, and the commercial banks are important in converting the foreign currencies3involved. It is therefore easier wh ...


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