What codeword indicates that the remitter agrees to pay all fees for a cross-border payment?

Study for the BAFT Certificate in Principles of Payments Test. Utilize flashcards and multiple-choice questions, with hints and explanations for each query. Prepare thoroughly for your exam!

The correct codeword indicating that the remitter agrees to pay all fees for a cross-border payment is OUR. This term specifies that the sender of the payment will cover all charges associated with the transaction, ensuring that the recipient receives the full amount without any deductions for fees from their incoming payment.

In the context of cross-border payments, various codewords convey different arrangements regarding who bears the transaction costs. "SHA" stands for shared, meaning that the fees are split between the sender and the recipient, while "BEN" indicates that the beneficiary is responsible for all fees. Therefore, using OUR assures the recipient that the total amount sent is what they will receive, and any fees will be absorbed by the remitter.

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