金融专业英语Lesson7银行的国际贸易支付与结算.docVIP

Lesson 7 Methods of Payments and Settlements of International Trade in Banks In contracts for the sale of goods abroad, the terms of payment of the purchase price and the methods of settlement are matters to be negotiated between the exporter and the buyer. The desire of the exporter is to obtain the purchase price as soon as possible and not to part with the documents of title to the goods before he receives payment, or, at least, before he is certain that his draft has been accepted; while the buyer, on the other hand, wishes to postpone payment of purchase price until he has an opportunity of reselling the goods. As a result, the following principal methods of payment have been put into use: 1. Payment on Open Account: When the exporter is well acquainted with the financial status of the buyer and entertains no doubt about his solvency, or when the exporter sells goods to his own overseas branch or subsidiary, he may be prepared to ship his goods on open account. Under this device, the exporter sends his shipping documents to the buyer who remits in due course or at agreed intervals the agreed price either by T/T, or by M/T, or by D/D through a bank. The exporter makes no precise date for payment of the goods shipped. Instead, he is prepared to rely on his past experience of buyers integrity to effect settlement at the proper time. 2. Collection of Documentary Bills Through Banks: A documentary bill is a bill of exchange accompanied by documents of title to goods. It is drawn for the price of the goods. The documents of title are usually a bill of lading and an insurance policy or certificate, together with a commercial invoice, a certificate of origin, etc. The remitting bank should examine the documents to see that they purport to be what they ought to be. It is an international practice that the bank is not responsible for the genuineness of the documents. The documents are usually prepared in two sets. The original set is dispatched to the remitting banks