International Payment(国际支付)概要1.pptVIP

§5 Terms of Payment in the Contract 1. Payment by remittance (1) “The Buyer shall pay the total value to the Seller in advance by T/T (M/T or D/D) not later than June 30, 2008.” (2) “Payment by T/T: Payment to be effected by the Buyer shall not be later than 30 days after receipt of the documents listed in the contract.” 2. Payment by collection  (1) “Upon first presentation the Buyer shall pay against documentary draft drawn by the Seller at sight. The shipping documents are to be delivered against payment only”. (Payment by D/P at sight) (2) “The Buyer shall duly accept the documentary draft drawn by the Seller at 60 days sight upon first presentation and make payment on its maturity. The shipping documents are to be delivered against payment only”. (Payment by D/P after sight) (3) “The Buyer shall duly accept the documentary draft drawn by the Seller at 90 days sight upon first presentation and make payment on its maturity. The shipping documents are to be delivered against acceptance”. (Payment by D/A) 3. Payment by letter of credit  “The Buyers shall open through a bank acceptable to the Sellers an Irrevocable Letter of Credit at 30 days’ sight to reach the Sellers XX days before the month of shipment, valid for negotiation in Shanghai until the 15th day after the month of shipment.” Simplified terms: “Payment by Irrevocable Sight Credit”, “By Irrevocable Credit at 30 days’ sight.” §3 Letter of Credit Definition of letter of credit UCP 600: A letter of credit is “a definite undertaking (保证) of the issuing bank to honour (承付) a complying presentation (相符交单).” In simple terms, a letter of credit is a conditional undertaking of payments by a bank. 2. Parties to a letter of credit  Applicant or opener The party who fills out and signs an application form, requesting the bank to issue a letter of credit in favor of a seller abroad. Ensure that the credit is issued in compliance with the terms and conditio