The fluorescence dynamics of perylene in the presence of tetracyanoethylene in acetonitrile was studied experimentally and theoretically, taking into consideration that the quenching is carried out by remote electron transfer in the Marcus inverted region. The initial stage was understood as a convolution of the pumping pulse with the system response accounting for the fastest (kinetic) electron transfer accompanied by vibrational relaxation. The subsequent development of the process was analyzed with differential encounter theory using different models of transfer rates distinguished by their mean square values. The single channel transfer having a bell-shaped rate with a maximum shifted far from the contact produces the ground state ion pair. It was recognized as inappropriate for fitting the quenching kinetics at moderate and long times equally well. A good fit was reached when an additional near contact quenching is switched on, to account for the parallel electron transfer to the electronically excited state of the same pair. The concentration dependence of the fluorescence quantum yield is well fitted using the same rates of distant transfer as for quenching kinetics while the contact approximation applied to the same data was shown to be inadequate.