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.,1,ChapterSevenPayment,.,2,MainContent,RevisionObjectiveGeneralIntroductiontoPaymentTermsofPayment付款条件UrgingEstablishmentofL/C催开信用证L/CAmendment&Extension信用证的修改与展期Exercises,.,3,Objectives,Uponcompletionofthischapter,thestudentswill:understandtheflowchartofL/C.beabletourgetheopeningoftherelativeL/C.beabletochecktheL/C.beabletomaketheamendmentbybusinessletter,Return,.,4,Introduction,Threebasicmethodsofeffectingpaymentsininternationalbusiness:,Remittance(汇付),MailTransfer(M/T)(信汇),TelegraphicTransfer(T/T)(电汇),DemandDraft(D/D)(票汇),.,5,Introduction,Threebasicmethodsofeffectingpaymentsininternationalbusiness:,.,6,Introduction,Threebasicmethodsofeffectingpaymentsininternationalbusiness:,.,7,Introduction,Threebasicmethodsofeffectingpaymentsininternationalbusiness:,RevocableL/C&IrrevocableL/C(可撤销信用证与不可撤销信用证)SightCredit/TermCredit(即期信用证与远期信用证),.,8,L/C,anirrevocableL/C,.,9,123456,7891011,Return,.,10,EXPORT-IMPORTPROCEDURE,1.SellerandBuyerconcludeasalescontract,withmethodofpaymentusuallybyletterofcredit(documentarycredit).2.Buyerappliestohisissuingbank,usuallyinBuyerscountry,forletterofcreditinfavorofSeller(beneficiary).,Return,.,11,EXPORT-IMPORTPROCEDURE,3.Issuingbankrequestsanotherbanktoadvise,andusuallytoconfirm,thecredit.4.AdvisingbankforwardsletterofcredittoSellerinformingaboutthetermsandconditionsofcredit.,Return,.,12,EXPORT-IMPORTPROCEDURE,5.Ifcredittermsandconditionsconformtosalescontract,Sellerpreparesgoodsanddocumentation,andarrangesdeliveryofgoodstocarrier.,Return,.,13,EXPORT-IMPORTPROCEDURE,6.Sellerpresentsdocumentsevidencingtheshipmentanddraft(billofexchange)tonegotiatingbanknamedinthecredit(theadvisingbankusually),oranybankwillingtonegotiateunderthetermsofcredit.,Return,.,14,EXPORT-IMPORTPROCEDURE,7.Bankexaminesthedocumentsanddraftforcompliancewithcreditterms.Ifcompliedwith,bankwillnegotiate.8.Banksendsthedocumentsanddrafttotheissuingbank.,Return,.,15,EXPORT-IMPORTPROCEDURE,9.Bankexaminesthedocumentsanddraftforcompliancewithcreditterms.Ifcompliedwith,Sellersdraftishonored.10.DocumentsreleasetoBuyerafterpayment.,Return,.,16,EXPORT-IMPORTPROCEDURE,11.Buyersurrendersbillofladingtocarrier(incaseofoceanfreight)inexchangeforthegoodsorthedeliveryorder.,Return,.,17,Toolsforpaymentbillofexchange(draft)汇票promissorynote本票check/cheque支票,1draftatsight(sightdraft)2draftaftersight(timedraft)3adraftat30dayssight,.,18,BillofExchange,Return,.,19,PromissoryNote,.,20,Return,.,21,cheque,.,22,Return,.,23,Introduction,Whenwritingaletterconcerningtermsofpayment,thefollowingstructureisoftenused:1.Putforwardtheproblemoftermsofpayment.2.Presentthedesiredtermsofpaymentandexplainwhythismodeofpaymentispreferredorwhyothertermsofpaymentcannotbeaccepted.3.Closetheletterbyexpressingexpectationsofanearlyreplyorsuggestingfuturebusinessdealings.,Specimen1,.,24,Specimen1DearSirsOurpastpurchasesofElectricalFansfromyouhasbeenpaidasarulebyconfirmed,irrevocableL/C,whichhasindeedcostusagreatdeal.Fromthemomenttoopencredittillthetimeourbuyerspayus,thetie-upofourfundslastsaboutthreemonths.Underthepresentcircumstances,thisquestionisparticularlytaxingowingtothetightmoneyconditionandunprecedentedlyhighbankinterests.,.,25,Ifyouwouldkindlymakeeasierpaymentterms,wearesurethatsuchanaccommodationwouldbeconducivetoencouragingbusinessbetweenus.Weproposeeither“cashagainstDocumentsonArrivalofGoods”Yourkindnessingivingprioritytotheconsiderationoftheaboverequestandgivingusanearlyfavorablereplywillbehighlyappreciated.Yoursfaithfully,.,26,L/C常用搭配,PleaseopenanL/CcoveringtwentymetrictonsofapplesfortheamountofUSD20,000.WeopenedanL/CinyourfavorthroughtheCitiBankthismorning.,请开立一个20公吨苹果的信用证,金额为2万美元。,今早,我们经由花旗银行开立了一个以你方为受益人的信用证。,.,27,L/C常用搭配,TodaywehaveopenedanirrevocableL/CinyourfavorfortheamountofUS$9000coveringourOrderNo.3422withtheBankofChina,Dalian.,我们今天通过中国人民银行大连分行就第3422号定单开立了以你方为受益人的不可撤消的信用证,金额为9千美元。,.,28,L/C常用搭配,今天,我方收到由美国花旗银行开出的以你方为付款人的金额为3500美元的信用证。,WereceivedanL/CforUSD3,500foryouraccountbytheCitiBankthismorning.,Return,.,29,Introduction,WhenshallL/Cbeopened:,Itistheusualpracticethattheletterofcreditistobeopenedandtoreachthesellers30daysaheadofshipmentsoastogivethesellerenoughtimetomakepreparationforshipment,suchasmakingthegoodsreadyandbookingshippingspace.Forpromptshipment,itisadvisablethattheletterofcreditbeissuedingoodtime.,.,30,Introduction,PrinciplesofwritinglettersurgingestablishmentofL/C:,NosuggestionofannoyanceisallowedtobeshownintheletterurgingestablishmentofL/C.Itisnotadvisable,exceptunderspecialconditions,tostartofftoostronglybyblamingthebuyerfornotexecutingthecontract.Thefirstmessagesentshouldthereforebeapolitenotesayingthatthegoodsorderedarereadybuttherelevantletterofcredithasnotyetbereceived.Ifthefirstmessagebringsnoreply,asecondonewillbesent.Thisone,thoughstillrestrained,willexpressdisappointmentandsurprise.,.,31,Introduction,ThefollowingstructureisforyourreferenceinwritingaletterurgingestablishmentofL/C:,Opentheletterinapositiveway.Forexample,inthefirstparagraphthesellerusuallyinformsthebuyerthatthegoodsarereadyfordispatchorthattheshippingspacehasalreadybeenbooked.PolitelypushthebuyerstoopentheL/Cwithoutdelay,eitherbyreferringtothestipulationsofthecontractorbyremindingthebuyersoftheseriousnessofnotopeningtheL/Cintime.3.Expressexpectationsandaskthebuyerstotakeimmediateaction.,Specimen2,.,32,Specimen2DearSirs,Re:OurSalesContractNo.C234Referringtothe5,000tonsofRedBeansunderourS/CNo.C234,wewishtodrawyourattentiontothefactthatthedateofdeliveryisapproaching,butwestillhavenotreceivedyourcoveringLetterofCredituptodate.PleasedotryyourbesttoexpeditetheL/C,sothatwemayexecutetheordersmoothly.Wehopetoreceiveyourfavorablenewssoon.Yoursfaithfully,Return,.,33,Introduction,WhydoestheexporterhavetoamendtheL/C:,ItisessentialfortheexportertodosobecauseaminordifferencebetweentheclausesoftheL/Candthetermsstipulatedinthesalescontractorsalesconfirmation,ifnotdiscoveredordulyamended,maycausethesellermuchinconveniencebecausethenegotiatingbankwillrefusetomakethepayment.,.,34,Introduction,InwhatcasesextensionoftheL/Cisnecessary:,Therearetimeswhentheexporterfailstogetthegoodsreadyfortheshipmentintimeortheimporterrequeststhatshipmentbepostponedforonereasonoranother.Undersuchcircumstances,theexporterwillhavetoaskforextensionoftheexpirydateaswellasthedateofshipmentoftheL/C.,.,35,ApplicantBeneficiary(buyer)(seller)IssuingBankAdvisingBank,(1),(2),(3),(4),RequestamendmentOrderamendmentAmendmentnotificationAmendmentnotification,.,36,Introduction,ThefollowingstructureisforyourreferenceinwritingaletteraskingforL/Camendmentorextension:,1.AcknowledgereceiptoftheL/Candthankthebuyerforopeningit.2.Pointouttheproblempolitelyandaskthebuyertomaketheamendmentaccordingly.Usually,detailedandcourteousexplanationsforsucharequestshouldbeprovided.3.Endtheletterinawaythatencouragesthebuyertotakeimmediateaction.,Specimen3,.,37,Specimen3DearSirs,WehavereceivedyourL/CNo.3639issuedbytheCharteredBank,Londonfortheamountof$12345covering15,000dozenStretchNylonSocks.Onperusal,wefindthattransshipmentandpartialshipmentarenotallowed.Asdirectsteamerstoyourportarefewandfarbetween,wehavetoshipviaHongKongmoreoftenthannot.Astopartialshipment,itwouldbehelpfultomutualbenefitsbecausewecouldsipimmediatelywhateverwehaveonhandinsteadofwaitingforthewholelottobecompleted.,.,38,Therefore,weareemailingthisafternoon,askingyoutoamendtheL/Ctoread“Partshipmentandtransshipmentallowed”.Weshallappreciateitverymuch.Andwehopeyouwillseetoitthatamendmentisfaxedwithoutdelay,asourgoodshavebeenpackedreadyforshipmentforquitesometime.Yoursfaithfully,Return,.,39,Exercise,1.A4%discountwillbegrantedonly_yourorderexceedsUS$20000.()A.dependsonB.forconditionthatC.onconditionthatD.subjectto2.Anexportercannotreceivepaymentuntilthegoodsonconsignment_sometimeinthefuture.()A.haveofferedforsaleB.arequotedC.arriveatdestinationD.havebeensold,C,D,.,40,Exercise,3.Wehavemade_thatwewouldacceptD/Aat60dayssightforthisorder.()A.clearB.itisclearC.thatclearD.itclear4.Wefindyourterms_andnowsendyouourorderfor2setsofgenerators.()A.satisfiedB.satisfactionC.satisfactoryD.ofsatisfaction,D,C,.,41,Exercise,5.Weregret_toacceptyourtermsofpaymentandthereforehavetoreturntheordertoyou.()A.cannotB.beingunableC.notableD.notbeable6.Wewillconsider_yourtermsofpayment.()A.acceptB.acceptingC.acceptedD.toaccept,B,B,.,42,Exercise,7.Wearenow_ofyourorderofJune19.()A.inreceiptofB.uponreceiptofC.onreceiptofD.inreceptionof8.Wearepleasedtoinformyouthatwecansupply_alltheitemsyourequire.()A.youB.toyouC.foryouD.youwith,A,D,.,43,Exercise,9.Toourregret,yourL/Cwasfoundnotproperly_onthefollowingpointsinspiteofourrequest.()A.amendB.toamendC.amendingD.amended10.WehopethatthestipulationsofyourL/Carein_withthetermsofthecontract.()A.conformityB.conformC.conformabilityD.comfort11.WehavereceivedyourL/C_theBankofChina.()A.openedwithB.openedinC.openedthroughD.openedat,D,A,C,.,44,Exercise,12.PleaseamendyourL/CNo.1162_transshipmentandpartialshipment.()A.allowB.toallowC.allowingD.asallow13.Wesuggestthatyou_thecoveringletterofcreditwithoutth
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