Chapter 7 Letter of Credit and Letter of Guarantee 国际贸易实务双语教程（教材PPT）.pptVIP

Chapter 7; Letter of Credit Letter of Guarantee Combination of Payment Modes ;Definition Parties Involved Procedures of L/C Payment Nature and Characteristics Contents Types ;Definition “Any arrangement, however named or described, whereby a bank acting at the request and on the instructions of a customer or on its own behalf, is to make a payment to or to the order of a third party, or is to accept and pay bill of exchange drawn by the third party”. --from the UCP 600 ;Parties Involved Opener, Applicant Issuing / Opening Bank Beneficiary Advising / Notifying Bank Negotiating Bank Paying / Drawee Bank Reimbursing Bank Confirming Bank ;Reverse Remittance Bank Credit ;Opening bank undertaking the responsibility of the first payer An independent instrument A kind of transaction of documents ;Open by Airmail Open by Cable SWIFT ;Contents General Information of L/C Information Required on the Draft Description of the Goods Shipment Clauses Documents Special Clause Bank’s Promise of Payment A Declaration to Subject to UCP600 ;Types Irrevocable L/C Sight L/C Usance L/C Transferable L/C Revolving L/C Reciprocal L/C Back to Back L/C Standby L/C Confirmed and Unconfirmed L/C Soft Clause L/C ;Definition Types ;Definition Letter of Guarantee is a guaranty in written form issued by bank, insurance company, guarantee company or individual upon request of the applicant, promising to fulfill the payment or compensation to some extent in a certain amount of money in case that the applicant fails to fulfill the obligation.;Types Tender Guarantee Performance Guarantee Repayment Guarantee ;Tender Guarantee; Performance Guarantee;Repayment Guarantee;Combination of Letter of Credit and Remittance Combination of Letter of Credit and Collection Combination of Collection and Standby L/C or L/G Combination of Remittance, Collection and L/C ;Combination of Letter of Credit and Remittance It means that the payment