chapter 6 terms of payment

1、Chapter SixTerms of PaymentObjectivesp To know about payment termsp To learn the phrases and expressions about paymentp To learn how to write a business letter about paymentI. Basic Knowledgep Payment is one of the most important steps in international trade. Terms of payment is directly related wit

2、h the benefits of both sides of the buyer and seller. The method of payment for each transaction is to be agreed upon between the two trading parties at the time of placing an order. Generally, there are three commonly used methods: L/C (letter of credit), collection and remittance. With the develop

3、ment of Internet and modern E-commerce, Online Payment is used widely.1. IntroductionRemittance( (汇付汇付) )Mail Transfer( (M/T) )（信汇）（信汇）Telegraphic Transfer( (T/T) )( (电汇电汇) )Demand Draft( (D/D) )( (票汇票汇) )Collection ( (托收托收) )collection on clean bill( (光票托收付光票托收付) )documentary collection ( (跟单托收跟单托收

4、) )documentary collection ( (跟单托收跟单托收) )documents against payment ( (D/P) )付款交单付款交单documents againstacceptance ( (D/A) )承兑交单承兑交单Letter of Credit ( (信用证信用证) )Revocable L/C & Irrevocable L/C ( (可撤销信用证与不可撤销信用证可撤销信用证与不可撤销信用证) )Sight Credit & Usance / Time/ Term Credit ( (即期信用证与远期信用证即期信用证与远期信用证)

5、)Documentary L/C & Clean L/C (跟单信用证与光票信用证跟单信用证与光票信用证)Confirmed L/C & Unconfirmed L/C (保兑信用证与未保兑信用证保兑信用证与未保兑信用证)单证相符单证相符单单一致单单一致A letter of credit or L/C is aundertakingconditionalof paymentsby a bankat the request of the buyer.Letter of Credit is a kind of payment term, and it is an effectiv

6、e means to solve the commercial credit crisis between buyers and sellers. L/C is a bank credit, and its development impels the development of international trade.Payment is sometimes made by collection through banks under the terms of Documents against Payment (D/P) or Documents against Acceptance (

7、D/A). There are D/P at sight and D/P after sight. D/A is always after sight. Under D/P payment method, the seller instructs his bank to send the documents, along with the draft, to the buyers bank or to a correspondent bank in the buyers vicinity. He also instructs the receiving bank to present the

8、draft to the buyer for payment. When the buyer pays the sight draft, the instructions state that the correspondent bank is authorized to release the accompanying documents to the buyer. The buyer obtains the title documents, namely the negotiable bills of lading, only after he pays the sight draft.S

9、ometimes we accept the terms of payment by remittance, which means the buyer himself remits money to the seller through a bank contracted. There are three kinds of remittance: mail transfer (M/T), telegraphic transfer (T/T) and demand draft (D/D). Generally, only when the transactions are rather sma

10、ll and the finance involved is small too can remittance be accepted. Samples postage, commissions and little order payment are usually adopted T/T payment. 2. Documents used in international settlementCommercial Invoice/Paper 商业发票Packing List 装箱单Certificate of Origin 产地证Insurance Policy 保险单Marine Bi

11、ll of Lading, B/L 海运提单Combined Transport Document, CTD 复（联）合运输单据Airway Bill 空运单Railway Bill 铁路运单3 Legal Basis 国际结算和法律密切相关，国际结算和法律密切相关， 涉及有涉及有关的国际法、国内法和国际惯例。关的国际法、国内法和国际惯例。国际法国际法International Law1. 联合国国际货物买卖合同公约United Nations Convention On Contracts For the International Sales of Goods2.联合国国际汇票和国际本票公

12、约草案、国际支票公约草案UNConvention on International Bills Of Exchange and International Promissory Notes 3.日内瓦统一汇票、本票法公约和日内瓦统一支票法公约_日内瓦统一法Convention on the Unification of the Law Relating to Bills of Ex-change and Promissory Notes 国内国内法法 domestic law1.中华人民共和国票据法1995年5月10日2.中华人民共和国外汇管理条例 1996年1月8日3.中国人民银行制定的结汇

13、、售汇及付汇管理规定国际惯例国际惯例 International Custom（Practice）1.跟单信用证统一惯例Uniform Customs and Practice for Documentary Credit, ICC Publication No.500, UCP 5002.托收统一规则Uniform Rules for Collection , URC 5223.见索即付保函统一规则Uniform Rules for Demand Guarantees ,URDG458 13 国际商会International Chamber of Commerce 制定4.国际保付代理惯例

14、, 1994The Convention on International Factoring 国际保理商联合会Factors Chain International，简称FCI制定 4 当代国际贸易结算的特点当代国际贸易结算的特点1.凭单付款 Documents against Payment 2.非现金结算non-cash settlement 3.以银行为中心的国际结算体系 international settlement system Centered on banks 4.结算单据多样化和EDI( Electronic Data Interchange) 全球性帐务清算和资金转移网络

15、有全球性帐务清算和资金转移网络有3个：个：1.环球银行间金融电讯协会Society for Worldwide Interbank Financial Telecommunication, SWIFT(Brussels)2.交换银行互相收付系统Clearing House Interbank Payment System, CHIPS(New York)3.交换银行自动收付系统Clearing House Automated Payment System, CHAPS( London)II. Words and Expressions Banks Merchants Bank 招商银行招商银行

16、 Bank of China 中国银行中国银行Industrial and Commercial Bank of China 中国工商银行中国工商银行Agriculture Bank of China 农业银行农业银行 Construction Bank of China 建设银行建设银行 Communications Bank of China 交通银行交通银行 HSBC 汇丰银行汇丰银行 Standard Chartered Bank 渣打银行渣打银行 Citi Bank花旗银行花旗银行 draft 汇票 Promisory Note 本票 cheque 支票 clean bill 光票

17、documentary bill 跟单汇票 Financial Instruments Sight Bill 即期汇票 Time Bill远期汇票 Usance Bill远期汇票 Commercial Bill 商业汇票 Bankers Bill 银行汇票 Commercial Acceptance Bill商业承兑汇票 Bankers Acceptance Bill银行承兑汇票 invoice 发票 Proforma Invoice形式发票 Sample Invoice样品发票 Consignment Invoice 寄售发票 Certified Invoice证明发票 Manufactur

18、ers Invoice 厂商发票Sentence Patterns and Examples选择付款条款(Choice of Terms of Payment） 句型：句型：Payment by L/C用信用证方式支付用信用证方式支付 例我们采用（接受）信用证付款方式。例我们采用（接受）信用证付款方式。 We adopt (accept) payment by L/C. 例我们的支付条件是以保兑的、不可撤销的、以我公司例我们的支付条件是以保兑的、不可撤销的、以我公司为受益人的、允许分装和转船、见票即付的信用证支付。该为受益人的、允许分装和转船、见票即付的信用证支付。该信用应于装期前一个月到达我

19、方，并在规定的装期后信用应于装期前一个月到达我方，并在规定的装期后21天内天内可以在中国议付。可以在中国议付。 Our usual terms of payment are by confirmed, irrevocable letter of credit in our favor, payable (available) by draft at sight, reaching us one month ahead of shipment, remaining valid for negotiation in China for a further 21 days after the pre

20、scribed time of shipment and allowing transshipment and partial shipments.句型2：under (on)terms 按方式 例对你方要求以承兑交单方式付款一事，我们抱例对你方要求以承兑交单方式付款一事，我们抱歉难考虑。歉难考虑。 We regret that we are unable to consider your request for payment under D/A terms. 例我们希望你方能按按例我们希望你方能按按60 天期承兑交单方式向天期承兑交单方式向我方供货。我方供货。 We wish you co

21、uld supply us in future on 60 d/s D/A terms. 句型3：onbasis 按方式 例：对你方这批试购的货物我们准备接受付款例：对你方这批试购的货物我们准备接受付款交单方式付款。交单方式付款。 We are prepared to accept payment for your trial order on D/P basis.句型4：to make an exception (or：as an exceptional case)破例 例由于我们长期的贸易关系，我们破例地接例由于我们长期的贸易关系，我们破例地接受见票后受见票后30天议付的信用证。天议付的信

22、用证。 In view of our long business relation, we will make an exception to our rules and accept L/C at 30 days (after )sight. 例对于你方初次订单，我们破例地接受承兑例对于你方初次订单，我们破例地接受承兑交单付款方式。交单付款方式。 As an exceptional case , we accept payment for your initial order on D/A basis. 句型5：as a special accommodation 作为特殊照顾 例作为特殊照

23、顾，我们同意你方建议接受即期例作为特殊照顾，我们同意你方建议接受即期付款交单，但是这不应视为先例。付款交单，但是这不应视为先例。 As a special accommodation, we agree to your proposal and accept payment by D/P at sight ,but this should not be regarded as a precedent . 例为协助你方在你市场推销我方产品，对此交例为协助你方在你市场推销我方产品，对此交易我方同意按承兑交单方式付款，以示特别照顾。易我方同意按承兑交单方式付款，以示特别照顾。 In order to

24、 pave the way for your pushing the sale for our products in your market, we agree to payment for this transaction under D/A terms as a special accommodation. 句型6：to be applicable可适用的 例只有在每次交易的金额不超过例只有在每次交易的金额不超过1000美元美元时，才可用付款交单的付款方式。时，才可用付款交单的付款方式。 D/P is applicable only if the amount involved for

25、each transaction is less than 1000. 例承兑交单付款不适用于你方情况。例承兑交单付款不适用于你方情况。 D/A payment is not applicable to your case.句型：to remitby以方式汇票款 例：为了节省开立信用证的大量费用，我们将在我例：为了节省开立信用证的大量费用，我们将在我方购买的货物已备齐待运，舱位已订下时，电汇全方购买的货物已备齐待运，舱位已订下时，电汇全部金额。部金额。 In order to save a lot of expenses on opening the letter of credit, we

26、will remit you the full amount by T/T when the goods purchased by us are ready for shipment and the freight space is booked.Some ExamplesShall we have a talk about terms of payment today? 我们今天谈谈付款条件怎么样？ What is the mode of payment you wish to employ? 您希望用什么方式付款？ 我们的付款方式一般是不可撤销的凭即期汇票支付的信用证。 Our usual

27、 terms of payment are irrevocable letters of credit payable by draft at sight. 如你方同意按即期信用证付款，我们即能达成交易。 If you agree the payment by sight L/C, we will come to terms. 我们不知你方可否考虑接受我们提出的延期付款的支付方式。 We wonder whether you can consider accepting the deferred payment we proposed. 对于这批购货，我们建议以欧元付款。 For this p

28、urchase, we propose to pay in euros. 关于第101合同，我们同意采用D/P的付款方式。 With regard to Contract No.101, we are agreeable to D/P payment terms. 我们希望重申一下，我们破例接受D/P方式付款仅仅是表明我们与你方发展今后业务的良好愿望。 We wish to reiterate that it is to show our goodwill for developing future business with you that we exceptionally accept

29、your D/P payment terms. III. Writing Skills Discussing mode of payment Advising the opening of L/C Urging Establishment of L/C Asking for L/C Amendment Asking for L/C extension (How to check up an L/C)Letters regarding payment often fall into the following types:1. Put forward the problem of terms o

30、f payment.2. Present the desired terms of payment and explain why this mode of payment is preferred or why other terms of payment cannot be accepted.3. Close the letter by expressing expectations of an early reply or suggesting future business dealings. Writing Principles of Letters of Payment Terms

31、 state clearly the current situation and the problems raise the specific requirement make a definite reply. If declining the request of payment, youd better use the friendly mood giving detailed reasonsWriting Principles of Letter Pressing for Payment Strive for clarity. To the point of asking for p

32、ayment telling out the amount, the expected date of payment. To avoid hurting your customer, youd better add the sentence like this: “If money has been remitted, please dont mind this letter.”Inquiring about Terms of Payment 1Dear Mr. Wang,Let us reintroduce ourselves as a Venezuelan dealer of food

33、additives. During our brief meeting at the China Export Commodities Fair 2010; you kindly presented me a name card and some of your samples. After a close study back home, we are glad to tell you that we find much interest in most of them, and we have confidence that your goods will find a ready market at this end.But as I was rather in a hurry then at the fair, there was a few things left not discussed. would you pl