国际贸易Lecture11I. Patterns of payment(付款的方式）付款的方式）1.Remittance(汇付付)(1)Meaning of remittanceRemitting bank transfers funds directly to the payee on the request of remitter(出票人出票人) (2)4 parties involving in the remittanceRemitter(出票人出票人,付款人付款人): the person remitting the payment(importer in exporting-importing trade )Payee/Beneficiary(收款人收款人): the person collecting the payment(exporter)Remitting bank(汇出行出行):entrusted by the remitter to remit the payment II.Collection(托收托收)1.CollectionThemechanismforhandlingfinancial&commercialdocumentsbybanksinaccordancewithinstruction(委托书委托书)fromprincipal/sellerinorderto:(1)Obtainpayment/acceptance(2)DeliverD/P付款交单付款交单or/andD/A承兑交单承兑交单(3)Deliverdocumentsonotherstradetermsb. Flowing chart of collectionThe flow chart of the documentary collection: Principal(Exporter)收款人收款人Payment(4)Collecting instruction委委托托书书Remitting bank(汇付行付行)Drawee(Importer)付款人付款人Collecting bank(托收行）托收行）Presentation6)(5)Forwardinginstructions&documentsReleasingdocuments(8)(1)SpecifyingcollectiontypeinsalescontractTransport Company(2)Loadinggoods(3)ObtainingB/L(11)Deliveringgoods(7)D/AD/PAcceptance Payment(12)Payingafter*daysD/A(14)D/P(10)D/A(13)D/P(9)CreditMemob. Flowing chart of collectionThe flow chart of the documentary collection: Principal(Exporter)收款人收款人Payment(4)Collecting instruction委委托托书书Remitting bank(汇付行付行)Drawee(Importer)付款人付款人Collecting bank(托收行）托收行）Presentation6)(5)Forwardinginstructions&documentsReleasingdocuments(8)(1)SpecifyingcollectiontypeinsalescontractTransport Company(2)Loadinggoods(3)ObtainingB/L(11)Deliveringgoods(7)D/AD/PAcceptance Payment(12)Payingafter*daysD/A(14)D/P(10)D/A(13)D/P(9)CreditMemo C. Types of collection(1)Clean collection(光票托收光票托收)Collection of financial documents(2)Documentary collection(跟跟单托收托收)Collection of financial documents & commercial documents or only commercial documents III. Letter of Credit-Bank credit1.DefinitionOn the request of the seller, the buyer will entrust a bank to open a credit ,which is a conditional payment of bank to the exporter. 2.The process of L/C b. Flowing chart of collection2.The flow chart of the Letter of credit: Beneficiary(Exporter)收款人收款人(4)trans-mit document Confirming bankPaying bankNegotiating bankAdvertising bankApplicant(Importer)付款人付款人Issuing bank（开（开证行）行）(13)redeemdocuments(3)IssueL/C(2)ApplytoissueL/C(1)contract(10)Transmitdocuments&reimbursement(11)Checkdocuments&payTransport Com.Insurance Com.Inspect Bureau(7)Dispatch notice(6)Loading &assembling documents(5)Check L/C &dispatch goods(8)Present documentsCheck documents &pay/negotiate (9)(12)Paymentadvice(14)delivery 3.The classification of L/C(1)Documentary credit(跟跟单信用信用证) &Clean credit(光票信用光票信用证)D/C:the credit that the issuing bank makes the payment by commercial documents &draft or only commercial documents;C/C:by draft(2)Irrevocable L/C, Revocable L/C Irrevocable L/C:the issuing bank cannot withdraw or modify the L/C, The “irrevocable” character on the face of the L/C; 3.The classification of L/C(3)Confirmed or Unconfirmed L/C(保保兑/不不保保兑的信用的信用证)The confirming bank promises to make the payment of the L/C signed by the issuing bank;(4)Sight/Deferred payment credit(即即期期/延延期期付款的信用付款的信用证)Issuing bank or paying bank makes the payment by the transport documents without drafts, the words “Available by payment at sight”/ “to be paid after * days of the shipment/presenting the documents” 3.The classification of L/C(5)Usance L/C or Acceptance L/C Usance L/C:The issuing bank or a bank nominated by the issuing bank accepts the documents & draft first, and pay the credit at maturity. (6)Negotiable/Transferable L/CThe beneficiary asks the negotiating or correspondent bank to transfer the L/C to another or two beneficiary(-ies) 3.The classification of L/C(7)Red clause of L/C(红条款条款) &Anticipatory L/C(预支信用支信用证)A red clause of L/C allows a beneficiary to draw a partial payment by a clean draft without commercial documents; When the beneficiary is allowed to draw the whole sum of the clean draft ,the L/C is called anticipatory L/C. 3.The classification of L/C(8)Back to back/ Secondary/Subsidiary L/C(背背对背信用背信用证)Middle manAdvising bank or other banksAnotherBeneficiary Importersend an(1) original L/Csend a new(2) L/C based on the original L/Ckeep the original L/C, but send the secondary L/C IV. Factoring(出售出售应收收账款款)1.DefinitionFinancial institution collects accounts receivable of the importer(buyer) for the exporter(seller) Factor V. Forfeiting(中中长期期贴现融融资)(1)DefinitionDiscounting of medium-long term , promissory note, or draft of a foreign buyer before the maturity 2.The process ExporterImporterFactor(金融机金融机构）构）(3)Sign B/E, promissory note (2)Shipping documents(4)Purchase draft ,etc.(1）a commitment to finance (5)Payment at maturityForfeiter结束语结束语谢谢大家聆听！谢谢大家聆听！24