国际商法英文版课件韩永红 ISBN9787566301918 PPTChapter 8.ppt

Chapter 8 Payment in International Sale of Goods Main Contents Modes of International Payment Fundamentals of Negotiable Instruments The bill of exchange (draft) The documentary letter of credit The stand-by letter of credit 1. Modes of Payment in International Sale of Goods Remittance telegraphic transfer (T/T) mail transfer (M/T) remittance by banker’s demand Negotiable instruments promissory note check bill of exchange or draft Letters of credit Collection clean collection documentary collection D/P D/A Documentary Collection It is the process by which banks serve as intermediaries between seller and buyer to handle the exchange of the bill of lading for payment. The bank does not act as a guarantee of payment in this process. 2. Fundamentals of bill of exchange, check and promissory note Bill of exchange A three-party instrument that is an unconditional written order by one party (the drawer) that orders the second party (the drawee) to pay a definite sum of money to a third party (the payee) on demand or at a specified future date. Types of bills of exchange: time bill; sight bill See the textbook 2. Fundamentals of bill of exchange, check and promissory note Check A three-party instrument that is an unconditional written order by one party (the drawer) that orders a bank (the drawee) to pay a definite sum of money to a third party (the payee) on demand. The drawee is a bank and check is always payable on demand. See the textbook 2. Fundamentals of bill of exchange, check and promissory note Promissory note A two-party instrument that is an unconditional written promise by one party (the maker/drawer) to pay a definite sum of money to the payee on demand