A Concept of International Settlement the financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle accounts, claims and debts that have emerged in the course of political, economic or cultural contacts among themthe financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle accounts, claims and debts that have emerged in the course of political, economic or cultural contacts among them. A. Concept of International Settlement