《国际商贸》英语Chapter 9 Letter of Credit.ppt

Issuing bank’s authorization/request We have issued the irrevocable credit as detailed above. We request you to advise the beneficiary: without adding your confirmation Adding your confirmation Adding your confirmation if requested by the beneficiary. * x The confirmation given when the credit is advised The notification and the enclosed advice are sent to you without any engagement on our part. As requested by the issuing bank, we hereby add our confirmation to this credit in accordance with the stipulations under UCP 500 Article 9. * x According to the availability of payment Payment credit Under such a credit, the issuing bank will nominate a bank to pay against stipulated documents. Sometimes the issuing bank nominates itself to be the paying bank. The term “payment” is only applicable to sight draft. However, sight draft may not be required under such a credit. The drawee of the draft is the paying bank. The payment made by the paying bank is final and without recourse. * 2.Deferred Payment Credit No draft is required under such a credit The issuing bank simply guarantees that payment will be made on a fixed or determinable future date, provided that the terms and conditions of the credit have been fulfilled with. One benefit of the deferred payment credit is that it avoids the need for payment of stamp duty on drafts. Under such a credit, the issuing bank will nominate a bank to pay against stipulated documents. Sometimes the issuing bank nominates itself to be the paying bank. The payment is final and without recourse. * 3. Acceptance Credit Under such a credit, the issuing bank will nominate a bank to accept a time draft and pay at maturity, provided that the beneficiary makes complying presentation. The issuing bank may nominate itself to be the accepting bank. The term “acceptance” is applicable to only a time draft. The drawee of the draft is the accepting bank. The payment made by the accepting bank is final and without