国际贸易理论与实务（英文版）Ch.15_Payment教材教学课件.pptVIP

(6) Financing under documentary collection To the seller: The bank may purchase the documentary bill if the export goods enjoy great popularity in the market abroad and both the seller and the buyer are thought reliable. The net amount = face value - bank fees - interest incurred. To the buyer: Under D/P after sight, if the collecting bank has a great degree of trust in the buyer, the bank may be willing to release the negotiable bill of lading to the buyer against a trust receipt. A trust receipt: A written declaration by the buyer to the collecting bank that ownership in goods released by the bank is retained by the bank, and that the buyer has received the goods in trust (被托管) only and will act as the trustee of the bank to arrange the discharge, customs clearance, transportation and insurance of the goods. §3 Letter of Credit Definition of letter of credit UCP 600: A letter of credit is “a definite undertaking (保证) of the issuing bank to honour (承付) a complying presentation (相符交单).” In simple terms, a letter of credit is a conditional undertaking of payments by a bank. 2. Parties to a letter of credit  Applicant or opener The party who fills out and signs an application form, requesting the bank to issue a letter of credit in favor of a seller abroad. Ensure that the credit is issued in compliance with the terms and conditions laid down in the sales contract within a proper or reasonable time. After the payment is effected by the issuing bank, the opener must pay the bank against correct shipping documents or refuse to pay if the documents are not in order. (2) Beneficiary The party in whose favor the credit is issued. If there is a discrepancy between the credit and the sales contract, he may accept it or ask the opener to have it amended. Once the beneficiary accepts the credit, he must deliver the goods in compliance with the contract. Then he tenders to his bank or any other bank all the relevant documents as