payment支付条款.ppt

Unit 9 Terms of Payment 支付条款 Key points Introduction Remittance; collection; letter of credit Writing guide Examples Words and phrases homework 1. introduction With the rapid development of international trade, terms of payment play more and more important roles in international settlement.The exporter normally expects to receive payment immediately after delivery of the goods, meanwhile, the importer expects that he will be able to pay off the trade debt only after the goods are sold. So, choosing appropriate terms of payment will be beneficial to exporter and importer. 2. three categories 2.1 Remittance 汇付 The remitting bank(汇出行，进口地银行）at the request of a remitter(importer/payer,汇款人） , sends the required funds to a payee(exporter/beneficiary,收款人）through the paying bank(汇入行/解付行，出口地银行）. It is based on commercial credit(商业信用）. Three different ways of remittance: 1) T/T (Telegraphic Transfer) 电汇, through bank , safest/fastest/most expensive 2）M/T （Mail Transfer）信汇, through bank, safer/slower/more expensive 3）D/D （Demand Draft）票汇, through payer himself , safe/slowest/least expensive 2.2 Collection 托收 The application of collection is set out in URC522, the Uniform Rules for Collection, version no.522. It is an arrangement whereby the seller draws a draft(汇票）, and /or shipping documents(B/L，invoice，packing list, etc.)are forwarded to his bank, authorizing it to collect the money from the buyer through its correspondent bank. It is based on commercial credit. Two kinds of collection Clean collection(光票托收） With financial instruments only ,such as bills of exchange, receipts, checks, etc., other documents are sent directly by the export to the importer. Documentary cellection(跟单托收） Only when the draft drawn with the shipping documents is paid or accepted, will the documents be released to the importer. Documentary collection is classified as follows: D/P ( Document against Payment） The collecting bank is allowed to release the documents to the drawee only ag