国际金融英语教学课件Unit 12 ppt.pptVIP

The three basic parties to a Bill of Exchange The drawer The drawee The payee Other parties to a Bill of Exchange Acceptor　　 Endorser Endorsee Holder Guarantor An unconditional promise in writing made by one person(the maker or issuer) to another(the payee or holder), signed by the maker engaged to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person or bearer. An unconditional order signed by the drawer who entrusts the bank or other financial organisations to pay a sum certain in money to the payee or the bearer of it. In your opinion, which country receives more remitted education expenses, China or USA? Why? When would the buyer agree to sell on cash in advance? Why would most traders choose letter of credit? Why is open account least risky for the buyer? Will the seller surely receive payment under documentary collection? Why? Suppose you are a buyer importing from a famous company. What is your chance of settling an open account deal? Commercial settlements Payments for the services rendered Payments between governments Transfer of funds among countries Others payments, such as overseas remittances, educational expenses, inheritance, etc. 　　Cash in advance　　 　　Letter of credit　　 　　Documentary collection　　 　　Open account The credit standing of the buyer The amount involved Availability of foreign exchange in the buyer’s country Types of exchange controls in the buyer’s country Political conditions in the buyer’s country Type of merchandise to be shipped Customs in the trade Market conditions: a buyers’ market or sellers’ market Payment terms offered by competitors Credit risks Exchange risks Transfer risks Political risks 　　A Bill of Exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order o