《商务英语函电教程》Unit 8付款条款.pptVIP

Unit Eight Terms of payment Learning Objectives To identify different payment terms To grasp the writing skill in urging an establishment of Letter of credit To know how to ask the buyer to amend a L/C General View Compared with payment arrangements for domestic transactions, payments for international transactions are more complicated and difficult for a number of reasons. First, the arrangements are international; as a result, longer distance and more procedures are involved. Second, longer time is needed in setting an international payment. General View Third, different regulations and systems of law that are applied further complicate the arrangements. Fourth, the monetary and financial matters are different in different countries and different methods are used. Because of the above reasons, international payment arrangements involve more risks and must be handled with special care. General View 1.Payment Instrument of International Trade Draft or Bill of Exchange Promissory Note Check 2. Modes of payment in international trade 1）Remittance 2）Collection 3）Documentary credit General View 1、Payment Instrument of International Trade 1) Draft or Bill of Exchange A draft of bill of exchange is an unconditional order in writing signed by one party (drawer) requesting a second party (drawee/payer) to make payment in lawful money immediately or at a determined future time to a third pay (payee). In the context of international trade, the drawer and payee is usually the seller and the drawee and payer is usually the buyer. General View 2) Promissory Note A promissory note is an unconditional promise in writing made by one person( the maker) to another (the payee/ the holder) signed by the maker engaging to pay on demand or at a fixed or determinable future time a sum of money to or to the order of a specified person or to bearer. A promissory note can be issued by a