函电课件5.ppt

Unit 7 Payment and Settlement of accounts 1.????? Terms of payment (1)?? Remittance ---T/T (Telegraphic Transfer) ---M/T (Mail Transfer) ---D/D (Demand Draft) (2)?? Collection ----D/P (Document against Payment) ----D/A (Document against Acceptance) (3) Letter of Credit ----What is L/C? ----Types of L/C Documentary L/C; Irrevocable L/C; Confirmed; Sight/Usance; Transferable; Revolving; Reciprocal; Back to Back; anticipatory; Standby; ----Parties in the L/C 1.contract 5.shipment 2 8 4 6 3 7 2.Procedure of the L/C Application Form; Advising the beneficiary; Examination of the L/C; (Amendment of L/C) Complementing the contract; Presenting the documents under the L/C; Negotiating or Paying for the L/C; 3. Objectives in L/C business (1)Exporter urges importer to open a L/C; (2)Importer notices seller for the L/C; (3)Amendment of L/C; (4)Dispute arise in dealing with the L/C; 4.specimen letters-1 (1)?? Exporter urges importer to establish a letter of credit We regret to inform you that there has been no news from you at all about your letter of credit, which should have reached us before Sept. 9th, 2002. This has caused us much inconvenience, since we have already made preparations for shipment according to our Sales Confirmation No.4. You may recall that the same thing happened to the execution of our last contract. It was only after the market had turned for the better that you opened the covering L/C, quite beyond the time limit. We should have refused then to effect shipment, but we acceded to your request for fulfillment of your order. At the same time we pointed out that you should take effective measures to prevent a similar occurrence. This article, as you know, has met with great popularity since offered