外贸函电chapter 6.ppt

Chapter 6 Payment Instruments and Payment Terms Contents Payment Instruments(支付工具) Payment Terms/ Payment Modes (支付方式) Payment Instruments The payment instruments used in the international trade settlement are currency and financial document (金融票据/金融单据). Financial Instrument Bill of Exchange/ Draft 汇票 Promissory Note 本票 Check (Cheque) 支票 Bill of Exchange (Draft) A bill of exchange, also called draft, is a bill signed by the drawer, requiring the payer to make unconditional payment in a fixed amount at the sight of the bill or on a fixed date to the payee or the holder. Kinds of Drafts According to the difference of payment time: Sight Bill (Demand Bill) 即期汇票 A sight bill requires the payer to pay the bill on demand or at sight. Time Bill 远期汇票 The payer is required to accept(承兑) it first and pay it at a fixed or determinable future time. Specimen A No. 7088 $10000 New York, 8th January, 2004 On demand pay to Tom Smith or bearer the sum of USD Ten Thousand Only. (signed) David White To: Mr. Felix Bryan London Specimen B No. 6779 Exchange for $7500 Shanghai, China, 8th August,2005 At 60 days sight of this First of exchange pay to Shanghai AG Import and Export Corporation the sum of USD Seven Thousand and Five Hundred Only. To: ABC Import and Export Co., Ltd. 56 London Street Miami, U.S.A Shanghai AG Import and Export Corporation Manager (signed) Kinds of Drafts According to whether there are documents attached: Clean Draft 光票 It refers to the draft without commercial documents attached. Documentary Draft 跟单汇票 It refers to the draft with commercial documents attached. Promissory Note A promissory note is an instrument written and issued by a drawer, promising to pay uncondi