8LC.ppt

Chapter Eight The Letter of Credit A letter of credit is a document issued by the buyers bank that promises that the bank will pay the seller the agreed amount of money, providing that all the requirements of the letter of credit are met. These requirements generally include delivery dates; product specifications; the receipt by the bank of certain documents within a specified period of time, etc. L/C is the most frequently adopted mode of payment in China’s foreign trade. L/C is a conditional undertaking of payments by bank. Letter of credit 信用证是可数的普通名词，单数为（a letter of credit，复数为 letters of credit 。 但在商业书信中常作大写，单数为Letter of Credit，复数为Letters of Credit 。 常用大写缩写，单数为 a L/C，复数为Ls/C。 此外，商业书信有时也用credit一个词表示信用证，复数为credits。 即期信用证： a. letter of credit available by draft at sight b. letter of credit payable against draft at sight c. letter of credit available by sight draft d. letter of credit payable against sight draft 在商业书信中常简称“sight L/C” 远期信用证： time L/C term L/C usance L/C Eg:见票30天议付的信用证 a. usance/time/term L/C at 30 days after sight b. usance/time/term L/C at 30 days c. 30 days usance/time/term L/C d. L/C available by draft at 30 days after sight L/C Phrases 保兑信用证 不可撤消的信用证 跟单信用证 可转让信用证 可分割信用证 循环信用证 背对背信用证 对开信用证 Sample Letters Sample Letter Read sample letter 1 in p.227 and answer the following questions. Explain the letter. Please underline the expressions which you think are useful. Use the expressions: 由于装运期降至，我们不得不指出除非你方信用证在2007年5月20日之前到我方，否则我方无法在规定的时限内装运。 As the delivery date is approaching drawing near , we cannot but point out that unless your L/C reaches us before May 20, 2007, we shall not be able to effect shipment within the stipulated time limit. Sample Letter Read sample letter 2 in p.231 and answer the following questions. Read and explain the letter. Paragraph 1: in one’s favour / in favour of 以…为受款人（受益人） e.g 开立以我方为受益人的信用证 open an L/C in our favour issue an invoice in your favour 开立以贵方为受益人的发票 Please open your L/C in favour of our