Remitting Bills

I (me) have now been paid after presenting the bill to the exchange banker (you) and receiving 64 ecus in return. However, this 64 ecus came out of the exchange banker's equity (from their own funds) which is not very good business. The exchange banker will need to make back these funds and preferably return a profit. To make back these funds the exchange banker needs to send the bill to Salviati using a process called remittance.

The exchange banker in Florence (you) has an associate exchange banker in Lyons (Tomasso), where Salviati lives. The bill will be sent (remitted) to Tomasso who can present the bill to Tomasso and receive the payment required, completing this particular transaction. How a profit is made will be explained in the next module.

There are now four players on the board; 'Me' and 'You' in Florence, and Tomasso (exchange banker) and Salviati (importer) in Lyons. In Davanzati's example Tomasso receives from 'You' the bill due from Salviati and then presents it to Salviati, receiving 1 gold marc (or its Lyonaise equivelant) in return