国贸中的支付.pdf

Unit 7 Payment In International Trade Contents: 7.1 Means of Payment in International Trade 7.1.1 Bill of Exchange 7.1.2 Promissory Note 7.1.3 Cheque(Check) 7.2 Modes of International Payment 7.2.1 Remittance 7.2.2 Collection 7.2.3 Letter of Credit learning outcomes: Definitions and Contents of bill of exchange, promissory note, and check. Circulations and Types of remittance, collection, and Letter of Credit. 7.1 Means of Payment in International Trade In international trade, the most frequently used means of payment include currencies and bills. The former are used for account, settlement and payment ; the latter for settlement and payment. 7.1.1 Bill of Exchange (draft) (1)Definition of bill of exchange A bill of exchange, also called draft, is defined as “an unconditional order in writing, addressed by one person to another,signed by the person giving it ,requiring the person to whom it is addressed to pay on demand,or at a fixed or determinable future time ,a sum certain in money, to, or to the order of a specified person, or to bearer”. The operation process of draft includes:to draw, presentation, acceptance, payment, endorsement, dishonor and recourse. (2)Content of Bill of Exchange (draft) *An unconditional order in writing *Addressed by one person/party (the drawer) *To another (the drawer) *Signed by the person/party (the drawer) giving it *Requiring the person/party to whom it is addressed (the drawee, or the payer) *To pay *On demand, or at a fixed or determinable future time *A sum certain in money *To,or to the order of, a specified person/party, or to bearer(the payee) (3)The Parties to a Bill of Exchange Drawer ：the person who write the order and gives directions to the person to make a specific payment of money. Drawee