商务英语Payment Tools Payment Methods.ppt

Payment Tools Payment Methods Unit 6 Trade Payment tools Payment methods Payment Tools Bill of Exchange Promissory Note Check (Cheque) Bill of Exchange Definition Parties to the bills of exchange Acts of a bill of exchange Definition of Bill of Exchange An unconditional order in writing, addressed by one party (drawer) to another (drawee), signed by the party giving it, requiring the party to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money, to or to order of a specified party (payee), or to bearer. Here is an example of a draft: ———————————————————————— Drawn under Bank of China, Singapore 开证行 Irrevocable L/C No. 4000158 信用证号码 Dated Jan. 10, 1997 信用证日期 Payable with interest 5.2 % per annum 每年付利息（因为货款由议付行垫付给出口商，还待开证行付款） No. 20010 EXCHANGE for HK$ 236,880.00 汇票金额 China Shanghai Feb. 20, 1997 at 30 days sight of this FIRST of Exchange (second of Exchange being unpaid) pay to the order of Bank of China the sum of Hongkong dollars TWO HUNDRED AND THIRTY-SIX THOUSAND EIGHT HUNDRED AND EIGHTY ONLY To: ABC COMPANY 345 MARLIA ROAD SINGAPORE 受票人/付款人 China National Textile Import Export Corp., Shanghai Branch 出票人/出口商/受益人 ————————————————————————— Parties to the Bills of Exchange 3 immediate parties (1) The Drawer - The party who draws and signs a draft on the drawee and delivers it to the payee. - He is a debtor to the draft. - Before the bill is accepted by the drawee, he is primarily liable to the payee or holder of the instrument. (2) The Drawee - He is the party who effects payment to the payee. He is also called the payer and another debtor to the bill - He may honor or dishonor the bill - He is not a debtor until he honors the bill (3) The Payee - He is the party to receive the payment - He is the first creditor to the bill and the first legal owner of the instrument