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Accounts Payable Supplier Electronic Funds Transfer Form (alternate format) Purpose of This Form: To offer payment options in US dollars as well as in campus local currencies to its international
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Electronic funds refer to the transfer of money from one bank account to another through electronic means.
Financial institutions and businesses that handle electronic transactions are required to file reports on electronic funds.
To fill out reports on electronic funds, businesses need to provide detailed information on the electronic transactions they handle.
The purpose of reports on electronic funds is to track and monitor electronic transactions to prevent fraud and money laundering.
Information such as the amount of money transferred, the parties involved, and the purpose of the transaction must be reported on electronic funds.
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