国际贸易实务(英文版)(第二版)ppt周瑞琪7.International Payment.ppt
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1、SEIB OF GDUFS,Chapter Seven,International Payments,SEIB OF GDUFS,2,Learning objectives,After learning this chapter you will be able to: identify the key issues in handling international payments understand the use of paying instruments, especially the bill of exchange2 define the three basic terms o
2、f payment compare and contrast the characteristics of terms of payment identify the major parties involved in different payment methods state the stages involved in using a letter of credit explain the variations of documentary credit establish a basic understanding of export financing,SEIB OF GDUFS
3、,3,7.1 Issues In Concern,Who will bear the credit risk? In what currency the payment would be made? What are the costs of each method of payment? What might be the political or legal risks?,SEIB OF GDUFS,4,Determinant Factors of Payment,Nature of merchandise Industry norms/practices Distance between
4、 buyer and seller Potential currency fluctuation Political Exporter drawing a B/E on importer; Exporter submitting all documents with complete instructions for collection to a local bank (remitting bank) and instructing the bank to effect collection for him; Remitting bank forwarding B/E with other
5、documents to its correspondent bank (collecting bank) in the importers country passing on exactly the instructions received from exporter Collecting bank/presenting bank presenting bill and documents to importer; Collecting bank/presenting bank releasing documents to the importer upon receipt of pay
6、ments or acceptance from importer; Collecting bank remitting payments to remitting bank; Remitting bank crediting payment to principal (exporter)s account.,SEIB OF GDUFS,26,Procedure of Documentary Collection and Parties Involved,SEIB OF GDUFS,27,Types of Collection,Documentary Collection Documents
7、against Payment (D/P) 付款交单 the collecting bank releases the documents to the importer only upon full and immediate cash payment. Documents against Acceptance (D/A) 承兑交单 If a period of credit to the importer is agreed upon, a usance bill will be used The documents will be released against acceptance
8、by the importer. Clean Collection 光票托收 without the company of commercial documents,SEIB OF GDUFS,28,7.3.3 Letter of Credit,Definition The written promise of a bank, undertaken on behalf of a buyer, to pay a seller the amount specified in the credit provided the seller complies with the terms and con
9、ditions set forth in the credit Features Bank credit Security of payment to exporter Ensure importer receive goods as ordered (payment released only if title documents are received) Care only for documents, not for actual transaction of the goods,SEIB OF GDUFS,29,Content of L/C (See Specimen7.9),Nam
10、e transferee the second beneficiary A credit must state clearly that it is “transferable” A transferable L/C can be transferred once only, namely, from first beneficiary to second beneficiary(ies). Where there are several second beneficiaries involved, the credit must permit partial shipments. Non-t
11、ransferable credit 不可转让信用证 An L/C under which the beneficiary is not entitled to transfer his rights, in whole or in part, to another party.,SEIB OF GDUFS,42,Types of Letter of Credit,6. Revolving Credit 可循环信用证 A revolving credit obliges the issuing bank to restore the credit to the original amount
12、after it has been utilized, without the need for amendment. Used especially for ongoing transactions.,SEIB OF GDUFS,43,Types of Letter of Credit,7. Reciprocal Credit 对开信用证 A reciprocal credit is a counter credit under which the applicant of a first credit becomes the beneficiary of the second recipr
13、ocal credit, while the beneficiary of the first credit becomes the applicant of the second reciprocal credit. It is often used in barter transactions, trade of processing incoming materials, counter trade or compensation trade.,SEIB OF GDUFS,44,Types of Letter of Credit,8. Back to Back Credit 背对背信用证
14、 Credit payment arrangement in which a documentary credit is used as the “backup” for issuing a new credit Mainly used by middlepersons The first credit must be irrevocable and non-transferable,SEIB OF GDUFS,45,Types of Letter of Credit,9. Red Clause/Anticipatory Credit 红条款/预支信用证 An anticipatory cre
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