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A Telegraphic Transfer (TT) is an electronic method of transferring funds used commonly in international trade, including import and export businesses. Here's how it works: 1. Purpose in Import/Export:Importers use Telegraphic Transfers to pay suppliers (exporters) for goods or services.Exporters receive these payments as proof that the importer has settled their invoices, allowing the goods to be shipped. 2. Process:Initiation: The importer instructs their bank to transfer a specific amount of
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