跟单信用证的流程

跟单信用证的流程1. The buyer (consignee) and seller (shipper) negotiate a sales contract using a documentary credit.2. The documentary credit is typically arranged by the consignee. Here the consignee sends a credit application to the issuing bank.3. The issuing bank sends a credit confirmation to the corresponding bank, in the form of a letter of credit.4. The corresponding bank sends notification to the shipper (seller) that credit arrangements have been made.5. After the shipper (seller) receive documentary credit, he dispatches the goods to the carrier.6. The shipper forwards the shipping documents to the corresponding bank.7. The corresponding bank compares the shipping documents to the letter of credit, and if correct, releases payment of the sale to the shipper.8. The corresponding bank forwards the shipping documents to the issuing bank.9. The issuing bank examines the shipping documents, and if correct, reimburses the corresponding bank for the credit under the way which they agreed in advance.10. After the consignee (buyer) paying the issuing bank for the goods plus interest and other charges the issuing bank releases the shipping documents to the consignee(buyer), then the buyer can take delivery of goods with the documents.名词解释：L/Cletters of credit 信用证B/Lbill of lading 海运提单FOB 离岸价CIF 到岸价B/E 提单D/A documents against acceptance 承兑交单D/Pdocuments against payment 付款交单DEM 德国马克NYSENew York stock Exchange 纽约交易所IPO-initial public offering 首次公开募股CFOchief financial officer 首席财务管理OTCover-the-counter 场外交易市场SECsecurities and exchange commission 证券交易委员会NASDAQ-（美）全国证券交易商协会会自动报价表AMEXAmerican Stock Exchange 美国证券交易所CFAChartered Financial Analyst 注册金融分析师QWL工作生活质量IDIinrernational direct investment 国际直接投资FDIforeign direct investment 外国直接投资MNE跨国公司简答1. Why does collection（托收） make exporters run more risks?Collection makes exporter run more risks .because the exporter ships the cargoes before obtaining the payment .When the goods arrive at the destination, they might be refused or the importer may find fault with the goods. If this happens . the exporter has to deliver the goods in the hand of the importers with loss of profit or to transport the goods back, but that involves charges. It is very clear that collection provides more security to the importer.2. Explain briefly the two forms of a documentary collection简要地说明两种形式的跟单托收1) When the presenting bank presents the documents to the importer, the latter must accept the bill before he gets the documents. D/A may be used when the market is the buyers market and when the buyer is considered reliable.2) By D/P ,it is meant that the principal gives the B/E and the shipping documents to the bank and entrusts the bank to collect the payment from the importer on condition that the importer effects payment. Otherwise, the shipping documents shall not be released to the importer.D / P 是指负责人给了银行 B / E（报税单）和运输证明，在进口商付了款的条件下委托银行向进口商托收货款。不然，运输文件不能交给进口商。3. What are the two methods of quoting exchange rates?4. What is a spot/forward swap transaction?什么是即期/远期 掉期交易？1) The spot transactions hold a key position in the exchange market. The main weight of business falls on the spot ,and other rates are quoted by reference to the spot. In a spot transaction ,the settlement and delivery of currencies take place two business days after the transaction date of the deal即期交易在交易市场上占据核心地位。大部分的交易是即期的，其他汇率的标价也涉及到即期。在即期交易中，协议和货币的输出发生在成交日后的两个交易日内。2) A forward transaction is one that is transacted for delivery of currencies at some date beyond spot date The delivery date and price are agreed upon at the time the contract is made .Purchases and sales for delivery three months and six months hence are common. Longer terms up to one year or more are usually available远期的交易是为了在同一个时间内除了现款交易日期的货币的流通而办理的交易。流通日期和价格是在合同已经签订的前提下制定的。因此为了流通三个月和六个月的购买和销售是很正常的。更长的时间到一年或是更长一般也是可接受的。Concerning the securities markets ,what do primary markets and secondary markets handle?考虑到安全市场，基础市场和次级市场处理些什么？What are the roles of investment bankers?投资银行家的角色是什么？Investment bankers are specialists who assist in the issue and sale of new securities. Investment bankers also underwrite new issues of bonds or stocks. In other words , the investment banking firm buys the entire bond or stock issue a company wants to sell at an agreed-on discount ,and then sells the issue to private or institutional investors at full price.5. What can be called “insider trading “and how to interpret the term “insiders”? 什么可以被称为内部交易？同时如何去解释“insider”这个词？Insider trading involves the use of knowledge or information that individuals gain through their position that allows them to benefit unfairly from fluctuations in security prices. The key words here are benefit unfairly .Insider within a firm are permitted to buy and sell stock in the company they work for so long as they do not take unfair advantage of information.6. Why it is necessary for a company to get its new products into the market as quickly as possible?为什么对于公司而言，让他们的新产品进入市场越快越好是必须的？If a new product has been successfully test marketed ,it is ready for full market introduction, The costs of introducing a new product often are quite high ,The product must be advertised to introduce its benefits to consumers .A new or revised distribution network may be needed. The company may need to develop training programs for its sales force, To pay for these costs, the company needs to get its new products into the market as quickly as possible.The earlier a product can be brought to market ,the chance that revenues and profits will be high. Fast product development is an important way to beat the competition and to establish leadership in the product category. The first company to introduce a new product has an advantage in acquiring customers and in building brand loyalty.8. What do the notions of tax neutrality and tax equity mean?税收中性和税收公平的概念意味着什么？Tax neutrality means that taxes have no effect ( are neutral) on resource allocation .That is ,business decisions are driven by economic fundamentals, such as rate of return, rather than tax considerations.Tax equity means that taxpayers who are similarly situated should pay the same tax. But there is much disag