payment资料.ppt

Chapter 6 Payment Main Content Revision Objective General Introduction to Payment Terms of Payment付款条件 Urging Establishment of L/C催开信用证 L/C Amendment Extension信用证的修改与展期 Exercises Objectives Upon completion of this chapter, the students will: understand the flow chart of L/C. be able to urge the opening of the relative L/C. be able to check the L/C. be able to make the amendment by business letter L/C an irrevocable L/C EXPORT-IMPORT PROCEDURE 1. Seller and Buyer conclude a sales contract, with method of payment usually by letter of credit (documentary credit). 2. Buyer applies to his issuing bank, usually in Buyers country, for letter of credit in favor of Seller (beneficiary). EXPORT-IMPORT PROCEDURE 3.Issuing bank requests another bank to advise, and usually to confirm, the credit. 4. Advising bank forwards letter of credit to Seller informing about the terms and conditions of credit. EXPORT-IMPORT PROCEDURE 5. If credit terms and conditions conform to sales contract, Seller prepares goods and documentation, and arranges delivery of goods to carrier. EXPORT-IMPORT PROCEDURE 6. Seller presents documents evidencing the shipment and draft (bill of exchange) to negotiating bank named in the credit (the advising bank usually), or any bank willing to negotiate under the terms of credit. EXPORT-IMPORT PROCEDURE 7. Bank examines the documents and draft for compliance with credit terms. If complied with, bank will negotiate. 8. Bank sends the documents and draft to the issuing bank. EXPORT-IMPORT PROCEDURE 9. Bank examines the documents and draft for compliance with credit terms. If complied with, Sellers draft is honored. 10. Documents release to Buyer after payment. EXPORT-IMPORT PROCEDURE 11.Buyer surrenders bill of lading to carrier (in case of ocean freight) in exchange for the goods or the delivery order. Tools for payment bill of exchange (draft)汇票 promissory note本票 check/cheque支票 汇票（Bil