《国际物流与经营管理》课件-第7章-国际贸易支付.ppt

Letter of Credit UCP 600 Universal Customs and Practice for Documentary Credit, 2007 Revision, International Chamber of Commerce. URR 725 Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits. P186-188 Letter of Credit Applicability Letters of Credit are an outstanding means of making sure that the exporter will be paid. Letters of Credit are costly. Letters of Credit are cumbersome. P190 Additional Types of Letters of Credit Stand-By Letters of Credit Transferable Letters of Credit Back-to-Back Letters of Credit P190 Characteristics of International Payment Issues Risks in International Trade Alternative Terms of Payment Cash in Advance Open Account Letter of Credit Documentary Collection Terms of Payment as a Marketing Tool Terms of Payment Documentary Collection Definition It is a process by which an exporter asks a bank to “safeguard” its interests in the foreign country by not releasing the documents. It is accompanied by a Bill of Exchange (also called a Draft). P192 Documentary Collection Remitting Bank The bank that interacts with the exporter and with the Presenting Bank in the importing country. Receives the documents from the exporter and then sends them to the Presenting Bank. It has no obligation to render judgment or advice on the quality of the packet of documents; it just transmits them to the Presenting Bank. Presenting Bank The bank that interacts with the importer on behalf of the exporter. Receives the documents from the exporter or from the Remitting Bank and holds them until the importer either signs a draft or pays the exporter. Follows the Letter of Instructions from the Exporter. P192-193 Documentary Collection Sight Draft D/P The Remitting Bank is instructed to release the documents only when the Importer pays. The importer has to pay “on sight.” Time Draft D/P D/A The Remitting Bank is instructed to release the documents only after the Importer has signed the Draft. A Promissory Note that the importer