第八讲国际贸易融资.ppt

The Trade Relationship Trade financing shares a number of common characteristics with traditional value chain activities conducted by all firms All companies must search out suppliers for goods and services Must determine if supplier can provide products at required specifications and quality All must be at an acceptable price and delivered in a timely manner The Trade Relationship Understanding the nature of the relationship between the exporter and the importer is critical to understanding the methods for import-export financing utilized in industry Three categories of relationships: Unaffiliated unknown party Unaffiliated known party Affiliated partu International Trade Finance International Trade Finance The Trade Dilemma International trade must work around a fundamental dilemma: Imagine an importer and an exporter who would like to do business with one another Because of the distance between the two, it is not possible to simultaneously hand over goods and receive payments in person How do participants in international trade mitigate the risks associated with conducting business with a stranger? The Mechanics of Import and Export The Bank as the Import/Export Intermediary The Trade Transaction Time-Line and Structure Lines of Credit Steps in Typical Trade Transaction Government Programs to Help Finance Exports Governments of most export-oriented industrialized countries have special financial institutions that provide some form of subsidized credit to their own national exporters These export finance institutions offer terms that are better than those generally available from the competitive private sector Thus, domestic taxpayers are subsidizing lower financial costs for foreign buyers in order to create employment and maintain a technological edge Government Programs to Help Finance Exports Export Credit Insurance Provides assurance to the exporter or the exporter’s bank that an insurer will pay should the foreign customer default In the US the Foreign Cred