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Unit 8 Terms of Payment (1) I. Warm Up Work in pairs with the following situation After long years of pleasant business relations Mr. Wood thinks he is entitled to easier payment terms, i.e. T/T A .However Mr. Wang does not agree to the payment terms proposed, because he thought if business is done on such basis he would assume the risk of neither getting paid nor the goods being taken back. Finally they arrive at an agreement of 30% down payment and the remaining 70%by T/T. Unit 8 Terms of Payment (1) II.Words and Expressions payment by installment 分期付款 payment at maturity 到期付款 payment in advance 预付(货款) Cash With Order (C.W.O) 随订单付现 Cash On Delivery (C.O.D) 交货付现 Cash Against Documents (C.A.D) 凭单付现 pay on delivery (P.O.D) 货到付款 payment for (in) cash 现金支付,付现 discount 贴现 draft 汇票 Unit 8 Terms of Payment (1) III. Useful Sentences 1. Our usual way of payment is by confirmed and irrevocable letter of credit available by draft at sight for the full amount of the contracted goods to be established in our favor through a bank acceptable to the sellers. 2. For payment, we require 100% value, confirmed and irrevocable letter of credit with partial shipment and transshipment allowed clause, available by draft at sight, payable against surrendering the full set of shipping documents to the negotiating bank here. Unit 8 Terms of Payment (1) 3. The terms of payment we wish to adopt are confirmed and irrevocable letter of credit. 4. We should like to advise you that payment by collection is acceptable. 5. We would prefer you to pay in US dollars. 6. According to the contract, after receipt of the preliminary shipping advice, you are kindly requested to op
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