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Terms of Payment Chapter Seven Review of chapter 6 Overleaf Odd goods Mutual negotiation Force majeure Review of chapter 6 兹确认售予你方下列货品,其成交条款如下: We hereby comfirm having sold to you the following goods on terms and conditions as specificed bellow. In duplicate 一式两份 随函寄去我方第AG-9460号销售确认书一式两份,请签字后然后我方一份以便存档。 In quadruplicate Contents of Chapter 7 Section One Introduction Section Two Specimen Letters Section Three Useful Words Expressions Section Four Useful Sentences Section Five Exercises Section One Introduction In the course of study of this chapter, the students will be acquainted with the various modes of payment and settlement of accounts and particularly those customarily used in our import and export organizations. Terms of payment methods of making payment One of the most important steps Related with the benefit of both sides Thinking Can you name out some kinds of payment terms? Introduction Modes of payment Remittance 汇付 Collection 托收 Letter of credit 信用证 Remittance Definition Remittance is to deliver the payment of the goods to the seller by bank transfer Parties involved Remitter(importer) 汇款人 Payee(exporter)收款人 Remitting bank 汇出行 Receiving bank 汇入行 Varieties of remittance According to the manner of remtting — mail transfer (M/T)信汇 — telegraphic transfer (T/T) 电汇 — Demand adraft (D/D) 票汇 Collection Definition The exporter draws a draft on on the importer for the sum due, and authorize his bank to effect the collection of the payment through his branch or correspondent bank in the country of the importer. Reverse remittance The exporter take the initiative to collect the money. Varieties of Collection Documentary collection — It has relevant shipping documents attached to the draft. - D/A - D/P Clean collection - only draft is used Section Two Specimen Letters Spcimen 1 P107CommentsThis is a letter asking for easier payment terms. For such kind of letter, the writer should give good reasons
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