ch18FINANCINGFOREIGNTRADE(跨国公司财务管理-Josep.ppt

multitynationalfincemanagementlanshapiro7theditionj.wileykeepssomeprofit，remitsresttoconsignor.4.use : between affiliates payment terms f.open account1. createssacreditsale2. to importersvantage3. morepopularlatelybecausea.majorsurgeingrobtradeb.c reglobalfamil iaritywithexporting .PAYMENTTERMS， 4.benefitsofopenaccounts : a.greterflexibilityinmagantradeb.lowerttransactionscosts5. majordisdvantage : highyvulnerabl . II.DOCUMENTS，ii.documentsusedinintl tradea.fufrmostuseddocuments1. billlolading (most important )2.commercial invoice3. b.billoladingthreefunctions :1.actisasacontracttocarrythegoods.2.actisasashippersreceipt3. establisheonsherhisheonshe eshifnegotiabletype .DOCUMENTS，2.typeofbillsa.straight b.ordered.on-boardd.received-for-Shi pente.cleanf.foul， documents mercialinvoicepurpose :1.listsfulldetailsofgoodsshped2. namesofimporter/exportersegiven3. identifiiespaymentterms4. listchargesforransportandinsurance . documents d.insurance1. two categories : a.marine : transportbyseab.air : transport by air2. insurancecertificateissuedto mentsinsur edtoday .DOCUMENTS、 e.consuelarinvoicelocalconsurateinhostcountryissues 3360 avisaforthexportersinvoicerequiresfeetobespondoens iii.financing tec ni questa.fourtypes :1.bankersacceptancesa.creation : draftsacceptedb.terms : payableatumtinoolder， financing techniques2. discounting a.converts报告draftstocashminusinteresttomaturityandcommissions.b.lowcostofinfiningwit l liable ) orwithoutrecourse (banktakesiabilityfornonpayment ) 3.factoring-firrmsselleraccountsreceivabletoanotherfirmknowthefactor.a.discountchargebyfactorb.non-recourse basis 3360 fac sed :1.) occasionalrexporting2. ) clientsgeographicallydispersed . financing techniques4. forfailingaas.definition : disconfinedatafredatewithoutrecourseofmedium-termaccountsreceivabledenomi u rrency.b.use : larg ecapitalpurphase.mostpopularinw.Europe， ernmentsourcessofexportfinancing ernmentsourcessofefiningandcreditinsurancea.export-importbankotheu.s.- known as itiessu.s.exportsonly . governmentsourcessofexportfinancing1. ex-imbankpropographms : ermediateloanstorexportersc . ycommitmentse.politicalandccommercialinsurance，governmentsourcessofexportfinancing b.privateeexportfundingcorporation (PEF co 1.fincentsslesserversfromprivatesources2. maypurphaseloansofu.s.importers3. eximbanprovidesloanguarantees .governmentsource c.foreigncreditinsuranceassociation (fcia )1. offerscommercialandpoliticristinsurance2. when insured exporteroftenableobtainfin V.COUNTERTRADE， v.counter tradea.threspecificforms :1.barterdirectexchangekind2. counterpurchasesales/prurchaesofunrelatedgoodsbutwithcurrencies3. bubbicaccapprementofoorig