Collection(托收) Terms of Payment.ppt

Unit 4Terms of Payment Learning Objective To make clear terms of payment; To know the difference between the three basic terms of payment. Background Information Instrument of payment (currencies, bills) Date of payment Place of payment Credit Terms of Payment Remittance (汇付) Collection(托收) Letter of Credit(信用证) Remittance Mail Transfer (M/ T) (信汇) Telegraphic Transfer (T/ T) （电汇） Demand Draft (D/D) （票汇） Letter of Credit L/ C: any arrangement with a bank by which the bank will accept and pay bills of exchange for the customer. 银行应进口商的请求开给出口商的一种保证付款凭证，银行承担在信用证条款得到完全遵守的情况下，向出口商付款的责任。信用证属于银行信用。 Letter of Credit L/C, generally, involves the following parties: Opener/ Applicant Beneficiary Opening Bank, Issuing Bank Advising Bank Negotiating Bank Paying Bank (or Reimbursing Bank) Letter of Credit Revocable/ Irrevocable Documentary/ Clean Confirmed/ Unconfirmed Sight/ Usance, or Time Transferable/ Non-transferable Revolving Reciprocal Back to Back Anticipatory (→Red Clause L/ C) Standby Listening Practice 1. Listen to a passage and fill in the blanks. the letter of credit, reliable, safe, buyers, sellers, buyers, the opening bank, finance, collection, Documents Against Payment, Documents Against Acceptance, expanses, procedures, a risk, actual payment, collecting, remitting, non-payment, shipping documents, D/P at sight, D/P after sight, immediate payment, D/P, make payment, 45, 90, the documents, pays, acceptance, promise, the financial standing of the importer is sound, have convinced, payment Listening Practice 2. Listen to a dialogue and answer the following questions. 1) To make an investigation of the financial standing of the Malaysian Trading Company. 3) RMB￥898 in total. 4) The results of the investigation of the financial standing of the Malaysian Trading Company. * * Collection Clean collection Documentary collection D/ P D/ A D/P at Sight D/P after Sight (D/P. T/R)