付款方式英文 INTERNATIONAL PAYMENT.pptVIP

INTERNATIONAL PAYMENT International Payment Issues needed to be considered Who bears the credit risk? What currency will payment be made? What are the costs of each method of payment? What are the political and legal risks? International Payment Factors determining the payment method Nature of merchandise Industry norms/practices Distance between buyer and seller Potential currency fluctuation Political economic stability Relationship between buyer and seller International Payment Terms of payment Remittance Collection Documentary Credit Credit instruments Bill of Exchange/Draft Promissory Note Cheque Bill of Exchange Definition – 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 certain sum in money to, or to the order of , a specified person or bearer. Bill of Exchange Parties involved Bill of Exchange Content of a B/E The words of “Bill of Exchange” or “Draft” The date and place of issuance of draft A specific sum which shall be exactly the same with that indicated on export invoice The tenor, that is, the period of credit The name of the drawee The name and signature of the drawer The name of the payee or order or bearer The endorsement of the payee when applicable Bill of Exchange Types of B/E Banker’s Draft/ Bank Bill vs. Commercial Draft/ Trade Bill Clean Bill vs. Documentary Bill Sight Bill vs. Time Bill/Usance Bill At xxx days (after) sight At xxx days after date At xxx days after date of B/L On fixed date Bill of Exchange Procedure of a B/E Practice Issue/Drawing a bill of exchange Presentation Other related practice Endorsement Dishonor Remittance remit: v. to send (money) usu. Through the post, or by telegraph or cable. Definition of Remittance – after conclusion of a business transaction, the debtor instructs his bank to send (remit) the transaction amount to his creditor in export cou