【答案解析】① Application: The remitter applies to the bank for remittance by M/T. ② Sending Instructions of payment: The remitting bank sends instructions to the paying bank by airmail asking the latter to make the payment. ③ Sending Advice of Drawing: The paying bank sends tile advice of drawing to tile payee. ④ Drawing Money: The payee draws the money from the paying bank. ⑤ Making Payment: The paying bank pays money to the payee.