Unit 9 Letter of Credit,商务英语函电,商务英语函电 Unit 9 Letter of Credit,Content,Knowledge Objective,Skill Objective,Warm Up,Business Situational Design,Specimen Letters,Notes,Trade Terms and Typical Sentences,Practice Training,Skill Training,Summary of Project,1Learn the definition of L/C and the parties concerned with an L/C,2Know the different types of L/C and their usage,Knowledge Objective,Skill Objective,Warm Up,Business Situational Design,Specimen Letters,Notes,Trade Terms and Typical Sentences,Practice Training,Skill Training,Summary of Project,Knowledge Objective,3Master the expressions and the words of urging, amendment and extension of L/C,4Master the letter components of urging, amendment and extension of L/C,商务英语函电 Unit 9 Letter of Credit,1Get familiar with words and expressions concerning with L/C,2Practice the ability of finding out the discrepancies and amending as well as extending L/C,Knowledge Objective,Skill Objective,Warm Up,Business Situational Design,Specimen Letters,Notes,Trade Terms and Typical Sentences,Practice Training,Skill Training,Summary of Project,Skill Objective,3Practice writing skills relating to the establishment, urging, amendment as well as extension of L/C,商务英语函电 Unit 9 Letter of Credit,A letter of credit, which can also be called an L/C, is a written undertaking made by the issuing bank given to the seller(exporter or beneficiary), at the request of the buyer(importer or applicant), to pay at sight or at a future date up to a stated sum of money. An L/C can be generally divided into following types. 1Irrevocable and revocable An irrevocable credit is a credit that cannot be amended or canceled without the permission from the beneficiary of the credit. A revocable credit is a credit that can be amended or canceled without the permission from the beneficiary of the credit. 2Confirmed and unconfirmed A confirmed credit is guaranteed by a bank other than the issuing bank. An unconfirmed credit is a credit which is not guaranteed by a bank other than the issuing bank Meanwhile, an L/C can also have other forms: revolving L/C; standby L/C; transferable L/C, etc. The following list contains several items for great attention when an exporter checks the L/C.,Knowledge Objective,Skill Objective,Warm Up,Business Situational Design,Specimen Letters,Notes,Trade Terms and Typical Sentences,Practice Training,Skill Training,Summary of Project,Warm Up,商务英语函电 Unit 9 Letter of Credit,Knowledge Objective,Skill Objective,Warm Up,Business Situational Design,Specimen Letters,Notes,Trade Terms and Typical Sentences,Practice Training,Skill Training,Summary of Project,Warm Up,商务英语函电 Unit 9 Letter of Credit,Situation: Dalian Cathay Petro Co. Ltd is an exclusive company dealing with crude oil import and export business. In April 2011, it signed a new contract with Abu Shaati Oil Company of Saudi Arabia in importing 100,000 barrel of crude oil. In the contract, both parties agreed that the L/C should be opened no later than August 30, 2011However considering the tight budget, Cathay Petro Company finds it is impossible to fulfill its commitment of opening the L/C on time.,Knowledge Objective,Skill Objective,Warm Up,Business Situational Design,Specimen Letters,Notes,Trade Terms and Typical Sentences,Practice Training,Skill Training,Summary of Project,Business Situational Design,Task: Suppose you are the manager of Import Department in Cathay Company, and you would send an E-mail to Ali Hussein the executive manager of Abu Shaati Oil Company to explain the current difficulty met by your company and at the same time ask for an extension of the L/C until September 15, 2011. Youd better write this letter with great care and polite so as to maintain a sound cooperation relationship between two companies.,商务英语函电 Unit 9 Letter of Credit,1Urging the establishment of an L/C Sample,Dear Sirs, RE: L/C covering Order No. 123 The laptop computers against your Order No. 123 have been ready for shipment, and we promised that the shipment can be made immediately after receiving your L/C by the end of February. But until now we have not received your L/C, please promptly instruct your banker to have the irrevocable L/C at sight established so that we can effect the shipment in time. If your L/C fails to reach us within 15 Days, we are afraid that we might not ship the goods as agreed upon. We are looking forward to your earliest reply. Yours faithfully,Knowledge Objective,Skill Objective,Warm Up,Business Situational Design,Specimen Letters,Notes,Trade Terms and Typical Sentences,Practice Training,Skill Training,Summary of Project,Specimen Letters,商务英语函电 Unit 9 Letter of Credit,2Application for the establishment of an L/C Sample,Dear Sirs, Our company has just worked out a deal with Apple Corp. in US of importing iPad2 for the total quantity of 2000sets. We both parties have agreed to make payments by irrevocable L/C at sight against shipping documents. We enclose an applicat