week 11.ppt

Payment 国际贸易的支付 Topics in This Chapter Introduction In international trade, Both the seller and buyer are keen to adopt positions in the negotiating strategy which will reduce their finance risk and secure the best deal possible. What should be understood in this unit 1 Instruments of Payment Currency Bill of exchange Draft Promissory Note Cheque 2 Modes of Payment Open account Advance payment Remittance Collection L/C transferor transferee drawer drawee payer payee addresser addressee acceptor endorser endorsee Contents in Draft Samples of bills Samples of bills The relationship among these parties in a bill of exchange may be described as a triangle as above 4) Act of Bill of exchange 1．出票（Issuance） (2). Commercial Acceptance Bill and Banker’s Acceptance Bill In time or usance commercial bill, when the drawer is a commercial firm and the drawee is another commercial firm, the bill after acceptance by the commercial firm or the drwee is called a commercial acceptance bill; when the drawee is a commercial firm or bank and the drawee is a bank, the bill after acceptance by the bank or the drawee is called a banker’s acceptance bill. According to the time when the bill falls due, bills of exchange may be divided into sight (or demand) bill or a time (or usance ) bill. The fixed or determinable future time may be a certain number of days after acceptance: a) At … days after sight, such as “30 days sight or “60 days after sight”; b) At … days after date if draft, such as “90 days after date of this draft”; c) at fixed date in the future, such as “On May 12, 2006”. (4). Clean bill and documentary bill In the transfer of the bill of exchange, if the bill of exchange is accompanied by shipping documents, it is a documentary bill, if not, it is a clean bill. In international trade, mostly it is the documentary bill that is used, occasionall