1、Chapter 3 Payment,2020/9/30,2,Payment,Favorable Exchange,Adverse Exchange,Commercial Credit,Banking Credit,L/C,Payment,Favorable Exchange,Payment Methods,Payment Instruments,Bankers Draft,Promissory Note,Cheque,Adverse Exchange,Remittance (M/T, T/T, D/D),Collection L/C,Bill of Exchange,Payment Instr

2、uments,Payment Methods,Use of T/T,Goods delivered after payment or partial payment in advance,Payment after delivery,Payment in advance,O/A,CAD、COD,Cash with Order,A（GZ）,B（SH）,CNY1000,C（A asks）,certificate,Trade Bill,Exporter,Importer,USD10000,Bank,Main Contents of Bill of Exchange,Parties:,Drawer,D

3、rawee,= Payer,Payee,Payment Period,Sight Draft,Time Draft,days after the date of draft,Atdays sight of the draft,days after the date of B/L,Fixed Date,Procedures of handling the draft,To draw,Presentation,Payment,Sight,Time,Acceptance,Methods of Payment (adverse),1. Documentary Collection,Seller,Buy

4、er,Sellers Bank,Buyers Bank,（1）,（2）,（3）,（4）,（5）,（6）,（7）,（8）,Principle,Payer,Remitting Bank,Collecting Bank,Definition,Upon the delivery of the goods, the exporter draws a bill of exchange on the importer for the sum due, with relevant shipping documents attached, and authorizes his bank to effect th

5、e collection of the payment through his branch bank or correspondent bank in the country of the importer.,Adverse Exchange,（Trade Bill）,Commercial Credit,Two types of Documentary Collection,Suppose you are the exporter, when will you deliver your shipping documents to the buyer (through the bank)?,D

6、ocuments against Payment,D/P Sight,Sight Draft,Time Draft,Documents against Acceptance,D/P after sight,D/A,Workflow of D/P sight,（1）Cont.,（2）Del.,（3）Doc.,（4）Coll.,（5）Pre.,（6）Pay.,（8）,（9）,Principle,Payer,Remitting Bank,Collecting Bank,（7）Del.,Workflow of D/P after sight,（1）Con.,（2）Del.,（3）Doc.,（4）Col

7、l.,（5）Pre.,（6）Acpt.,（9）,（10）,Principle,Payer,Remitting Bank,Collecting Bank,（8）Del.,（7）Pay.,Workflow of D/A,（1）Con.,（2）Del.,（3）Doc.,（4）Coll.,（5）Pre.,（6）Acpt.,（8）,（9）,Principle,Payer,Remitting Bank,Collecting Bank,（7）Del.,（8）Pay.,You should show more concern on:,Good understanding of the credit statu

8、s of the buyer.,Adoption of CIF,When the goods have been damaged during transit and the buyer refuses to accept the documents and make the payment, the seller can claim against the insurer.,If not, the seller should insure a special risk named “Sellers Benefit Risk”.,D/P T/R,Question：Under D/P after

9、 sight, if the goods have arrived at the final destination and the goods are very hot-selling in your market, but as an importer, you havent got enough money to pay the price and get the relevant documents, what will you be eager to do?,Question：We offered a Japanese client a transaction under D/P s

10、ight, but he counter offered: D/P 60 days and collected by Bank A. What are the intentions of the Japanese?,Contents,L/C,Definition,Main parties and procedures,Main characteristics,Main contents,Main forms,UCP600,Tips for Exporters,Definition,Complying Presentation,A letter of credit or L/C is an,un

11、dertaking,of payments,made by a bank,at the request of the buyer.,conditional,irrevocable,Main Parties and Procedures,出口商 (Beneficiary),開證行Opening Bank,議付行Negotiating Bank,進(jìn)口商 (Applicant),付款行Paying Bank,通知行Advising Bank,1、contract,5、to deliver the goods after verifying the L/C,4 to notify,6 To apply

12、 for negotiation,7 to negotiate,3、to issue,8 To collect,9、payment on complying presentation,2 to apply,10 presentation,11 payment,Other parties,第二通知行,(The Second Advising Bank),保兌行（Confirming Bank）,第二受益人（The Second Beneficiary）,轉(zhuǎn)證行（Transferring Bank）,Responsibilities of each party,A、to apply for the

13、 issuing of L/C according to the contract,B、pay the price and take the delivery,Beneficiary （Exporter）,Applicant（Importer),A、to examine and/or ask for amendment of L/C,B、to deliver the goods,C、to make and examine documents and deliver to the bank within stipulated time,Advising Bank,Negotiating Bank

14、,A、to advise the L/C,B、to examine the authenticity of L/C,A、to negotiate if complying presentation,B、to send documents and collect money,Issuing Bank,Paying Bank,A、to issue the L/C and become the first payer,B、 to take up or refuse the documents within five banking days following the day of receipt

15、of the documents,C、to notify the applicant to pay for the documents,Liability for payment rests with the issuing bank and not the buyer.,Characteristics of L/C,我出口企業(yè)收到國外開來的不可撤銷信用證一份，由設(shè)在我國境內(nèi)的某外資銀行通知并加保兌。我出口企業(yè)在貨物裝運(yùn)后，正擬將有關(guān)單據(jù)交銀行議付時(shí)，忽接該外資銀行通知，由于開證銀行已宣布破產(chǎn)，該行不承擔(dān)對該信用證的議付或付款責(zé)任，但可接受我出口公司委托向買方直接收取貨款的業(yè)務(wù)。,Case S

16、tudy,對此，你認(rèn)為我方應(yīng)如何處理為好？簡述理由。,It is completely independent of the sales contract.,Characteristics of L/C,案例分析,出口伊拉克一批商品，3-4月各裝一批，即期L/C支付，合同中訂有不可抗力條款。買方如期開來信用證，賣方正欲發(fā)貨，獲悉伊拉克爆發(fā)戰(zhàn)爭。賣方認(rèn)為合同中訂有不可抗力條款，可以免除交貨義務(wù)或延期履行，于是在四月份一起交出兩批貨，銀行可否拒付？正確的處理方法應(yīng)是怎樣？,It is concerned only with documents and not the goods to which

17、the documents refer.,Characteristics of L/C,案例分析,我某公司向外國某商進(jìn)口鋼材一批，貨物分兩批裝運(yùn)，支付方式為不可撤銷即期L/C，每批分別由中國銀行開立一份L/C。第一批貨物裝運(yùn)后，賣方在有效期內(nèi)向銀行交單議付，議付行審單后，即向該商議付貨款，隨后中國銀行對議付行作了償付。我方在收到第一批貨物后，發(fā)現(xiàn)貨物品質(zhì)不符合同規(guī)定，因而要求開證行對第二份L/C項(xiàng)下的單據(jù)拒絕付款，但遭到開證行拒絕。你認(rèn)為開證行這樣做是否有理？,Uniform Customs and Practice for Documentary Credits ICC Publicatio

18、n No.600 2007/600 1929/74 1933/82 1951/151 1962/222 1974/290 1983/400 1993/500,UCP 600,Main Contents of L/C,L/C,Name & address of issuing bank,Description of L/C,Name & address of the parties concerned,Unit price and/or credit amount,Details of shipment,Description of goods,Documents required,Detail

19、s of charges,Special clauses,Types of L/C,Transferable Credit,Non-transferable Credit,Types of L/C,Confirmed Credit,Unconfirmed Credit,Types of L/C,Sight Payment Credit,Deferred payment Credit,Contents of L/C,Expiry date and place,UCP600：A credit must state an expiry date for presentation. An expiry

20、 date stated for honor or negotiation will be deemed to be an expiry date for presentation. A presentation by or on behalf of the beneficiary must be made on or before the expiry date.,Contents of L/C,Period of shipment and expiry date,Contents of L/C,Partial shipments,Article 31 ： a. Partial drawin

21、gs or shipments are allowed. b. A presentation consisting of more than one set of transport documents evidencing shipment commencing on the same means of conveyance and for the same journey, provided they indicate the same destination, will not be regarded as covering a partial shipment, even if the

22、y indicate different dates of shipment or different ports of loading, places of taking in charge or dispatch.,Contents of L/C,Article 30 Tolerance in Credit Amount, Quantity and Unit Prices,a. The words about or approximately used in connection with the amount of the credit or the quantity or the un

23、it price stated in the credit are to be construed as allowing a tolerance not to exceed 10% more or 10% less than the amount, the quantity or the unit price to which they refer. b. A tolerance not to exceed 5% more or 5% less than the quantity of the goods is allowed, provided the credit does not st

24、ate the quantity in terms of a stipulated number of packing units or individual items and the total amount of the drawings does not exceed the amount of the credit.,案例分析,某國際貿(mào)易公司有一筆對喬治公司出口花生仁的貿(mào)易，總貨量為500噸。信用證規(guī)定：“分5個(gè)月裝運(yùn)：3月份80噸，4月份120噸，5月份140噸，6月份110噸；7月份50噸。每月不許分批裝運(yùn)，從中國港口至倫敦?！?該公司3、4月份均順利發(fā)貨并收回貨款。后因貨源不足

25、于5月20日在青島港只裝了70.5噸，取得了提單。經(jīng)聯(lián)系煙臺某公司有一部分同樣品質(zhì)規(guī)格的貨物，所以要求貨輪再駛往煙臺港繼續(xù)再裝了64.1噸，取得另一張?zhí)釂?。單?jù)寄到開證行被認(rèn)為單證不符，拒絕付款。理由是：1）不符合信用證中每月不允許分批裝運(yùn)的規(guī)定；2）短裝5.4噸，不符信用證要求。,Contents of L/C,Period of shipment, expiry date and presentation period,Tips for Exporters,Communicate with your customers in detail before they apply for letters of credit. The letter of credit is part of the sales process, not the shipping process!,Consider whether a confirmed letter of credit is needed - if in doubt, seek advice.,Ask for a co