unit three.ppt上课.ppt

1、unit three,Payment,The terms of payment are an important part of the sales contract both sellers and buyers are concerned about.No export transaction can be regarded as successful until the money has been paid for the goods delivered overseas, and the proceeds have been safely credited to the seller

2、s account. proceeds(n)实收款项，收入,bill of exchange,International payment tool: bill of exchange/draft/bill In interactional trade, the most often used payment tool is draft. There are three parties key to draft payment: 1 drawer :the person who draws the bill, or the seller in international trade 2 draw

3、ee: the person on whom the draft is drawn, the person is to pay the money, or the buyer in international trade 3 payee: the person whom the drawee should pay to, or the person who is to receive the money. The seller or his order(the party the seller designates) is the payee. drawee: 受票人，即付款人，和开票人（dr

4、awer）之间有债务关系。 payee: 受款人，可以是开票人或者开票人所指定的人（the order of the drawer),Sight draft,Sight draft即期汇票 Sight draft is payable on demand. It means that the drawee will be required to pay at once when he sees the bill. We trust you will pay our draft on presentation. presentation: 汇票展示 我们相信你方在见到我们的汇票时即照付。 A s

5、ight draft is usually expressed in the following ways: On demand pay/ At sight pay Example: At sight pay Jim Green or order the sum of US Dollars One Thousand Only. order: 凭指示。受票人应将汇票金额支付给Jim Green或者他所指定的来人。 only:整数,Time draft,Time draft 远期汇票 A time draft is payable at a future time. It means that t

6、he drawee will be required to pay when the draft is due/mature. 常表示为atsight pay due/mature (a): 到期的 Example: At 60 days sight, pay Jim Green or order the sum of US Dollars One Thousand Only. The sight here refers to the accepting date. Accepting a bill or acceptance can be understood as formal promi

7、se from the drawee to pay when the bill falls due and the promise is given when the drawee sees the bill. The drawee puts the word accepted to the face of the bill, signing his name and dating his acceptance. accept(v): 承兑, 是指远期汇票的付款人在汇票上签名，同意按出票人指示到期付款的行为。,Language points,draw 开出（汇票） draw a draft o

8、n sb for an amount against sth through (a bank) draw on sb for an amount against sth 根据向某人开出金额为的汇票 draw a sight draft on sb. 向某人开出一张即期汇票 draw on sb a 60 d/s bill/draw on sb a bill at two months sight 向某人开出见票后60天付款的汇票/向某人开出见票后两个月付款的汇票 to accept a draft 承兑汇票 to honor a draft 支付汇票 to dishonor a draft 拒

9、付汇票 我们遗憾地得知你方拒付了我们三十天期的汇票。 We regret to note that our 30 days draft drawn on you was dishonored . 我们已根据这些单据通过亚洲银行向你方开立了发票金额的即期汇票。 We have drawn a sight draft on you against the documents for the amount of invoice through the Bank of Asia . 请确认我们可以就你328号订单向你方开出金额为两万八千美元的六十天远期汇票收款。 Please confirm that

10、 we can draw on you a 60d/s bill for US$28,000 against your Order No. 328.,Ways of payment,In international trade, there are three ways of payment: Remittance, Collection and Letter of Credit.,Remittance,Remittance refers to a bank, at the request of its customer(the buyer), transfers a certain sum

11、of money to overseas branch or correspondent bank, instructing it to pay the beneficiary(the seller) in that country. The most often used in international business is T/T. correspondent bank: 关系行，既有业务往来的银行。 T/T: 电汇,When to use remittance,1 Payment in Advance 预付货款 2 Cash with Order (CWO) 随订单付现 3 Cash

12、 on Delivery (COD) 交货付现 4 Pay on Delivery (POD)货到付款 5 Open Account Trade 记账交易,In 1 and 2 the exporter receives money at first and then delivers the goods. The two ways of trade are of course most favorable to the exporter. In 3 ,4 and 5, the exporter delivers the goods first and then receives the mo

13、ney. These three are most favorable to the importer. However, the distrust is always there. The buyer is worried whether the seller will ship the goods as they have agreed and whether the goods shipped are in conformity with the contract when the transaction is on the basis of Payment in Advance and

14、 CWO. While the deal is on the basis of COD, POD and Open Account, the seller is worried whether the buyer will pay after taking the delivery.,characteristics of remittance,Therefore we can see remittance is based on the traders credit, or commercial credit, the smooth progress of the transaction la

15、rgely depends on whether the seller and the buyer fulfill their obligations in good faith.,Collection,Collection 托收 Under collection, the seller ships the goods and hands over the relevant commercial and financial documents to the sellers local bank, requiring the local bank to collect the sales pro

16、ceeds through its branch or corresponding bank in the buyers country. Title to the goods does not pass to the buyer until the draft is paid or accepted by the buyer. title to the goods: 代表物权的单据，这里指的提单。 financial document 即汇票。 commercial documents 即发票（invoice）,全套货运单据（full sets of shipping documents）

17、，其核心就是提单(bill of lading)，代表了物权，只有正本提单(original bill of lading)才能提货。如果是CIF交易，则还包括保险单(insurance policy)。,types of documentray collection,托收分为光票托收（clean collection）和跟单托收（documentary collection）。 光票托收不随附货运单据，只有汇票，通常用于托收一些杂费，如样品费(sample fees)，佣金(commission)。 国际贸易中大都采用跟单托收，出口商出运货物后开具汇票，连同全套货运单据委托银行向进口商收取货

18、款。跟单托收分为付款交单D/P(Documents against Payment)和承兑交单D/A(Documents against Acceptance). 付款交单分为即期付款交单（D/P at sight)和远期付款交单(D/P after sight)。 Notes: D/A enables the buyer to obtain bill of lading against mere acceptance instead of payment, so the seller would have to take great risks for the buyer may take

19、the goods away without paying at maturity. In general, the seller is not encouraged to use this term in a sales contract. Example 见票后六十天内付款交单（承兑交单) payment by D/P at 60 days sight payment by D/A at 60 days sight,Letter of credit,Irrevocable documentary letter of credit is the most often used. It is

20、a written promise of a bank, on behalf of the buyer, to pay the seller the amount specified in the credit provided the seller presents the documents in compliance with the stipulation of the credit. in compliance with: 与一致,students task,Sequence the following ways of payment in terms of risks involv

21、ed to the buyer and seller respectively. Open account D/P and D/A L/C Payment in advance,common risks invoved in remitance and collection,Remittance and collection are both based on the mutual trust of the exporter and importer. Whether the transaction can proceed smoothly depends on the creditworth

22、iness of the two parties involved, or commercial credit.,advantage of L/C,L/C is based on bank credit which provides more security both to the seller and buyer in international trade. It is the most common form of payment in international business. However, the cost of establishment of an L/C throug

23、h a bank acceptable to the seller will definitively increase the buyers financial burden.,Language points,1We should like to advise you that payment by collection is acceptable. 我们想要告诉你托收支付可被接受 2We will draw on you a documentary draft at sight through our bank on collection basis. 我们将以托收方式能过我行开具即期汇票

24、给你(跟单托收） 3Well agree to change the terms of payment from L/C at sight to D/P at sight. 我们同意将即期信用证付款方式改为即期付款交单。 4We should express thanks that you pay the total amount to us in advance by T/T not later than 30 November. 对于你方以电汇方式不晚于11月30日预付全部货款，我方表示感谢 5As a special accommodation, we will accept D/P f

25、or this trial order. 作为一项特殊照顾，我们接受付款交单方式支付你方这笔试订货,8 We regret to inform you that we cannot accept payment by D/P. 很遗憾告诉你我们不能接受付款交单 9 It is our customary practice to pay by; 我们的惯例是用来支付;,Translation exercise,1为了做成这笔生意，希望双方都做些让步,50%按信用证，其余的按付款交单， 2按照你的要求，我们破例地（make an exception/exceptionally）接受即期付款交单发货

26、(delivery against.)，但这种情况下不为例(precedent)。 3 对于新客户我们一直采用信用证付款。另外，国际资本市场不稳(fluctuating)，所以我们不得不坚持(insist on)即期信用证付款。 4开立信用证费用很高，会影响到像我方这样小公司的资金周转(tie up the capital)，因此最好采用付款交单或承兑交单的方式。,keys,1In order to conclude the business, Lets make a compromise (meet each other half way) with 50% of the sales pro

27、ceeds by L/C and the balance by D/P. 2In compliance with your request, we exceptionally accept delivery against D/P at sight, but this should not be taken as a precedent. 3 Payment by L/C is our usual practice with all new customers for such commodities. Moreover, the international capital market is

28、 fluctuating, so I am afraid that we have to insist on payment by L/C at sight. 4 It is expensive to open an L/C which ties up the capital of a small company like ours. So it is better for us to adopt D/P or D/A.,Request for a specific payment,When either the seller or the buyer makes a specific req

29、uest concerning payment, the letter is often characterized by 1) Expressing your regret for your inability to accept a specific payment term 2) Giving your reasons for your inability to accept a specific payment term 3) Suggesting the way to solve the problem,Asking for cash payment,Question: 1 What

30、 is the way of payment in this case? 2 What is the preferential way of payment offered by the seller? Do you think the seller is wise enough to conduct business with new customers on open account? Any suggestions to sellers on the way of payment when doing business with new customers?,Accepting the

31、Installment Payments,Questions: 1 What is the way of payment involved in this transaction? 2 What are the documents involved in this transaction for payment? 3 Why is the payment in this transaction divided into three installments? 4 Which party benefites from each of the three installments? Try to

32、explain one by one. 5 What kinds of goods is this installment payment more applicable?,Installment payment is often seen in the transaction of equipment supply and installment , which involves huge amount of money. The good performance and normal operation of the machinery in deal is of crucial impo

33、rtance to the buyer. However, it takes time for the buyer to find out whether the goods function well. Thus the usual practice of the buyer paying off the proceeds upon the arrival the goods is not applicable here. Payment by installments is more workable.,Asking for deferring payment,What are the k

34、ey points while writing letters of asking for deferring payment? 1. Apologize for not being able to pay the goods promptly. 2. Make it clear what kind of extension or change in payment terms you want. 3. Explain why you need an extension. Give enough details to convince the buyer. 4. Promise that yo

35、u will pay by a specific date. 5. Thank the buyer for his/her understanding and help.,Language points(settlement of account),1Your Invoice No.1223 for US $ 80,000 worth of goods supplied on 20th July is due for payment at the end of this month. 贵方7月20日所供第1223 号发票项下货物之款项80000 美元定于本月底结付 2We have deduc

36、ted the commission agreed of 3% from the total amount due and enclose a remittance bill for $ 1 000 in full settlement of the account. 我们从应付的总额中扣除3%的佣金，现随信附寄1 000美元的汇款单以结清账 3 I should appreciate an extension of one month for the payment of my bill of $6500 due on April 5.我方应于4月5日付款6500美元，如能延期1个月，将不胜

37、感激。 4 We have to ask your favor of allowing us to defer our payment for 3 months.In doing so you would render me a service I should never forget.我们不得不请求贵方允许我方延迟3个月付款。若是如此，我们将永远记住贵方给予的帮助。 5We regret that we are not able to make you a settlement at the moment. settle account: 结账.非常遗憾, 本公司目前实在无力结清该账。 6

38、This amount has been passed to your credit in settlement of your account.该货款已汇入贵方账户，以结清账款。,Negotiating Payment Documents,Documentation in International trade (pp200) In international trade, every shipment must be accompanied by a number of correct documents. If they are not the correct ones, the imp

39、orter will have difficulties in taking delivery of the goods. Besides, when a deal in on the basis of D/P or L/C, its crucial that the seller presents correct documents concerning the goods after effecting shipment, or he cannot get the payment from the seller. Q：Can you explain why documents are so

40、 important in D/P and L/C?,the importance of proper documentation in D/P and L/C,In D/P, if the documents are not correct, the buyer will certainly refuse to pay because :1) he may assume the goods are not what is described in the sales contract because the documents which manifest what the goods ar

41、e are not consistent with the features of the goods; 2) The incorrect documents make it difficult for him to take delivery. In L/C, the bank pays only if the seller presents documents which are in compliance with the ones required by the L/C, or the bank wont effect payment.,major types of documents

42、 involved in international trade,Financial documents The most commonly used financial document is draft/bill of exchange. Commercial documents Commercial documents mainly include commercial invoice and bill of lading under CFR and FOB; In terms of CIF, together with the two mentioned, insurance policy or certificate must be included. In Addition, packing list,certificate of origin and inspection certificate are also important.,commercial invoice商业发票是一笔业务的全面反映，内容包括商品的名称、规格、价格、数量、金额、包装等，同时也是进口商办理进口报关不可缺少的文件，因此商业