国际结算——信用证.ppt

6.2 Irrevocable Confirmed documentary and Irrevocable Documentary Credit Irrevocable Confirmed documentary Under the demand and authorize of issuing bank, a confirmation is added to an irrevocable credit by another bank, the confirming bank will undertake payment, if the delivered document are conformed with the terms of L/C before expiry date Confirming bank: Independent principal Not the correspond bank of issuing bank primary obligation Advantages:“An Irrevocable Confirmed Credit gives the beneficiary a double assurance of payment” Disadvantages: The issuing bank should delivery the commission to the confirming bank,The cost transferred to the applicant. Increase the cost of the applicant and Competence of the importing goods. Irrevocable Confirmed documentary Why need to Confirm? On Considering the financial credit and standing of issuing bank , beneficiary will demand the applicant ask the issuing bank to authorizing another bank to confirm payment. Confirming bank Clause: As requested by the Issuing Bank, we hereby add our confirmation to their Credit in accordance with the Stipulations under UCP500 Article. Irrevocable Documentary Credit Advising bank Clause : This notification and the enclosed advice are sent to you without any engagement on our part. (no confirming bank) 6.2 Irrevocable Confirmed documentary and Irrevocable Documentary Credit 6.3 Payment, Acceptance, Negotiation Credit Sight payment credit or credit available by payment Deferred payment credit or credit available by deferred payment Acceptance credit or credit available by acceptance Negotiation credit or credit available by negotiation Freely negotiable credit Sight payment credit or credit available by payment No need of draft issued by exporter Payment upon the delivery of B/L document Most favorable to beneficiary Deferred payment credit ----with a named drawee bank at a fixed time after the date of the B/L or after the presentation of documen