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Unit 10 Terms of Payment Lily Zhang Terms of Payment The terms of payment are an important part of the sales contract both sellers and buyers are concerned about. Conditions under which the seller and buyer agree to settle the financial amount of the sales contract. Warm- up How many basic methods of payment do you know? Have you ever heard about L/C? Why is L/C generally used in international trade? Basic Knowledge 我国在进出口贸易中常用的支付方式有汇付、托收和信用证 The mode of payment includes Remittance (T/T, M/T, D/D), Collection (D/P, D/A) and L/C. L/C is the most frequently adopted mode of payment in China’s foreign trade. Remittance (汇付) Remittance (汇付) 又称汇款，是指进口商将货款交由银行汇给出口商，或债务人（汇款人）通过银行，使用各种结算工具将款项支付给债权人的结算方式 1、电汇Telegraphic Transfer, T/T 电汇是汇出行应汇款人的申请，用电报或电传的方式通知它在收款人所在地的联行或代理行，解付一定款项给收款人的汇款方式。 电汇方式速度快、费用高，因此一般只在金额较大或有急用的情况下才采用。 2、票汇D/D： 票汇是汇出行应汇款人的申请，代汇款人开立以汇入行为付款人的银行即期汇票，支付一定款项给收款人的汇款方式。 3、信汇M/T 信汇是汇出行应汇款人的申请，将信汇委托书寄交给汇入行，授权起解付一定款项给收款人的汇款方式。信汇用信函的形式通知，故费用低廉，速度较慢。 Collection (托收) 出口方根据外贸合同规定将货物装运出口后，开立以进口方为付款人的商业汇票并附上有关单据，委托当地银行通过进口方所在地银行向进口方代收货款后汇回出口方的一种结算方式。 主要涉及两种即： a. D/P (document against payment)付款交单: 代收行在收到进口方货款后，将汇票及所附的货运单据交付给出口方。按时间不同又分为即期付款交单(D/P at sight)和远期付款交单(D/P after sight) D/A (document against acceptance)承兑交单: 出口方在货物付运后，开具以进口方为付款人的远期汇票，连同各种货运单据一并交委托行寄往进口方代收行；代收行在进口方承兑汇票后，将跟单汇票交给付款人，进口方于汇票到期日付清货款。 信用证Letter of Credit L/C: the most generally used method of payment, which is reliable and safe for both sellers and buyers. 信用证是国际贸易中进口方银行用来保证本国进口商有支付能力的凭证。是进口方所在地银行，根据进口方的申请和担保，对出口方开出的一种信函式的凭证，通过出口方所在地银行，通知出口方，由开证行负责在出口方交付信用证规定的各种装运单据时，支付全部货款。 5. According to the time of payment 按付款时间来分 1) Sight credit即期 2) Usance or time credit远期 6. According to the method of payment 按照付款方式来分 1) Payment credit付款 2) Deferred payment credit延期付款 3) Acceptance credit承兑 4) Negotiation credit 议付 7. According to the credit amount to be used revolvingly 是否可自动循环 1) Automatic自动循环 2) Semi-automatic半循环