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Terms of PaymentWarm- upHow many instruments of payment do you know?How many basic methods of payment do you know?Have you ever heard about L/C?Why is L/C generally used in international trade?Learning objectives⏹To learn the basic three instruments of payment –bill of exchange, promissory note and cheque.⏹To learn the modes of payment in int’l trade – remittance, collection, letter of credit.⏹To be aware of the advantage and disadvantage under different payment methods.⏹To learn the letter of asking for easier terms⏹To learn the letter of replying for negotiate payment termsTerms of PaymentThe terms of payment are an important part of the sales contract both sellers and buyers are concerned about.Conditions under which the seller and buyer agree to settle the financial amount of the sales contract.International payment arrangements are much complicated because:Financial instruments⏹In int’l trade, currencies and bills are two major means of payment.⏹It is difficult for the buyer to pay and the seller to deliver the goods face to face.⏹They use documents to fulfill their respective obligations, i.e., the seller delivers the goods and is paid against the documents, meanwhile the buyer makes payment and get the goods against the documents. Banks are intermediaries, and bills are instruments of payment.Instruments of Int’l SettlementClassification of drafts1.According to time when the draft falls due:----Sight (Demand ) Bill(Draft)----Time ( Usance) Bill (Draft)2.According to the Shipping documents attached or not:----Clean Bill (no conditions)----Documentary Bill3.According to who the drawer is:----Commercial Bill----Banker’s Bill※An Example of a Banker’s DraftAn Example of a Commercial DraftPromissory Note 本票中国建设银行现金支票样本Three Main Methods of PaymentTypes of RemittanceRemittance is chiefly used forPayment in advance;Cash with order;Delivery first and payment afterwards;Small quantity of goods;Commission;Sundry chargesTypes of Remittance⏹Mail Transfer, M/T⏹Cheap but slow, seldom used⏹Telegraphic Transfer, T/T⏹Fast and safe for exporter to get the money⏹The most commonly used type of remittance⏹Demand Draft, D/D⏹Flexible to draw money⏹Convenient for the exporterTypes of CollectionTypes of Collection⏹Collection belongs to commercial credit.⏹The banker only functions as a middleman, and his obligation is only to provide services of delivering documents and collect payment. The seller sends goods first, and gets payment later. Whether the seller can get the payment or not is reliable on the buyer’s credit. The buyer gets financing from the seller.Letter of Credit, L/C信用证⏹A L/C is a conditional written undertaking given by bank on the request of an importer to pay at sight or at determinable future date a certain amount of money to the exporter against stipulated documents, provided that the terms and conditions of the credit are complied with.Letter of Credit, L/C信用证The Characteristics of L/CThe advantages of using an L/CIt is reliable and safe for both sellers and buyers.Because the issuing bank use its own credit to guarantee the payment of orders.The disadvantages of using an L/CComplicated procedure of applying for a L/CBanks will charge service fee for issuing a L/C, therefore it add more cost to the buyer.Confirmed , Irrevocable,Documentary Credit, at sight⏹Modes of payment means a series of acts or operations to realize the funds flow from one country to another.Modes of Int’l PaymentDocumentary CreditRevocable Documentary CreditIrrevocable Documentary CreditConfirmed Irrevocable CreditSight Payment Credit/Negotiation Credit议付Deferred Payment Credit/Acceptance Credit承兑Transferable CreditNon-transferable CreditRevolving Credit循环信用证Reciprocal Credit对开Anticipatory Credit预支信用证Remittance and Collectioncommercial credit offered by companies.Letter of Creditbanker’s credit offered by banks.Letter of CreditL/C: the most generally used method of payment, which is reliable and safe for both sellers and buyers.Characteristics of L/C(1) L/C is an independent instrument compared to contract, and not affected by contract.(2) The bank bears responsibility of First Payment.(3) The bank bears responsibility of the documents not the commodity itself.---- “Document Business”(4) L/C is an agreement among the bankers, beneficiary, opener and all other parties concerned and all parties concerned will be bound by the term on L/C.Terms of PaymentQuestionsQuestionsMain points of Asking for easier paymentOpening:a.reference to the relative order or contract; Mention the contract, goods, etc.Body :b.putting forward favorable payment terms; Propose the terms of paymentC.stating the reasons;Closing:d.expecting acceptance. Wish the reader to accept.Sample letter study1. Agree to the requirements:Opening:a.receiving the letter; State that you have received the letter.Body :b.acceptance of the payment terms;C.stating the reasons of acceptance;Give your reply of agreeing or refusing and your reason.Closing :d.expecting cooperation of acceptance. State your good will and your wish to do business with the reader.2. disagree to the requirements:Opening:a.receiving the letter;Body :b.expressing refusal and stating reasons;C.providing suggestions of new payment terms or insisting on previous terms;Closing :d.hoping to cooperate in the future.Amending payment termsWords & PhrasesDear Mr. Smith,Referring to the contract No. 123, we place an order with you for12000 Spinning Machine (纺纱机) Parts.In the past, our purchases of Spinning Machine Parts from you havenormally been paid by confirmed, irrevocable letters of credit. Thisarrangement has cost us a great deal of money. From the moment weopen the credit until our buyers pay us normally it ties up funds for aboutfour months. This is currently a particularly serious problem for us in view ofthe difficult economic climate and the prevailing high interest rates.If you could offer us easier payment terms, it would probably lead to anincrease in business between our companies. We propose either cash againstdocuments on arrival of goods, or drawing on us at three months’ s ight.We hope our request will meet with your agreement and look forward toyour early reply.Writing StepsUseful ExpressionsUseful ExpressionsWords & PhrasesDear Mr. Clinton,We enclose our Order No. 365. We have examined thespecifications and price list for your range of cotton shirts andnow wish to place an order with you.In the past we have traded with you on a sight credit basis.We would now like to propose a different arrangement. Whenthe goods are ready for shipment and the freight spacebooked, you will fax us and we will then remit the full amountby telegraphic transfer (T/T).We are asking for this payment so that we can giveour customers a specific delivery date and also save theexpense of opening a letter of credit. As we believe thatthis arrangement should make little difference to you andhelp with our sales, we trust that you will agree to ourrequest.We look forward to receiving confirmation of our orderand your agreement to the new arrangements forpayment.Writing StepsUseful ExpressionsUseful ExpressionsWords & PhrasesWriting StepsUseful ExpressionsUseful ExpressionsWords & PhrasesDear Mr. Merton,Thank you for your letter of 11 November 2005.We have considered your request for a trial deliveryof china on documents against acceptance terms, butregret to say that we cannot agree to your proposal.As an exception, the best we can do for the trial is tooffer D/P.If you accept our proposal you run very little risk, sinceour china is well known for its quality, attractive design andreasonable price. Our lines sell very well all over the worldand have done so far for the last 50 years. We do not thinkyou will have any difficult in achieving a satisfactoryvolume of sales.If you find our proposal acceptable, please let us knowand we can then expedite the transaction.Yours sincerely ,Writing StepsUseful ExpressionsAnalyzing the letterParagraph 1: identifying the referenceParagraph 2: accepting the proposal, giving the reasonsParagraph 3: making it clear that the concession does not apply to future transactions Paragraph 4: detailing the enclosureLanguage Points1. pay v. 付款1) pay in advance 预付2) pay by installments 分期付款3) pay on delivery 货到付款4) pay by 30 days L/Cpay by time L/C at 30 days以见票后30天议付的信用证付款5) pay by sight L/C 以即期信用证付款We trust you will pay our draft on presentation.我们相信你方在见到我们的汇票时即照付。
《国际贸易术语期末考试》一、单项选择题1.下列贸易术语中，装运时间早于交货时间的是( B )A.CIFB.DDPC.FOBD.FCA2．以CIF成交，货物所有权（A ）A．随运输单据交给买方而转移给买方B．随货物风险转移至买方而转移给买方C．随货物交给买方而转移给买方D．随货物支付完毕而转移给买方在国际惯例方面，只有国际法协会制定的关于CIF合同的《华沙—牛津规则》第6条对所有权转移的时间做出了规定。
根据这一规定，在CIF合同中，货物的所有权既不是在订立合同时转移，也不是在货交承运人时刻转移，而是在卖方把代表货物的单据交给买方时转移。
国际商会制定的《国际贸易术语解释通则》本身并未规定货物的所有权转移问题。
3．根据《2010通则》的解释，适用于各种运输方式的是（A ）A．FCA B．FAS C．FOB4．《2010通则》CIF与FOB的重要区别之一是（C ）A．风险划分的地点不同B．交货地点不同C．风险划分的地点与费用相分离。
5．CIF合同的货物在装船后因火灾被焚，应由（ B ）A．卖方负责损失；B．买方负责请求保险公司赔偿；C．卖方负责请求保险公司赔偿；6．就卖方承担的风险而言（ A ）A．CIF=CFR=FOB B．CIF>CFR>FOB7．《2010年国际贸易术语解释通则》中，卖方承担义务最小的术语是( D )。
A. CIFB. FOBC. DAFD. EXW8．下述术语中，既属内陆交货又属象征性交货的术语是（ B ）。
A.EXWB.FCAC.FOBD.DDP9．《2 010年国际贸易术语解释通则》对贸易术语分类的标准是（ A ）A 运输方式B 卖方承担义务大小C 交货方式D 交货地点10．按CIF Landed成交，买卖双方的风险划分界限为（ B ）。
A.货物交给承运人B.货物在装运港装船C.货物到目的港卸船D.货物交到目的港的码头11．专门解释CIF术语的国际贸易惯例是（B ）。
《国际货物运输期末考试》一、中英文互译：1、Order B/L：指示提单2、清洁提单：Clean B/L3、已装船提单on board B/L4、FCL，LCL：整箱货，拼箱货二、单项选择题1．在班轮运输方式下，对装卸费收取较为普遍采用的办法是（Ａ）。
A．船方负担装卸费B．船方不负担装卸费C．船方负担装货费，而不负担卸货费D．船方只负担卸货费，而不负担装货费2．在（Ｃ）运输方式下，船方和货方要计算速遣和滞期费。
A．班轮B．定期租船C．定程租船D．光船租船3．国际贸易中最主要的运输方式是（Ｃ）。
A．航空运输B．铁路运输C．海洋运输D．公路运输4．在国际买卖合同中，使用较普遍的装运期规定办法是（Ａ）。
A．明确规定具体的装运时间B．规定收到信用证后若干天装运C．收到信汇、电汇或票汇后若干天装运D．笼统规定近期装运5．在规定装卸时间的办法中，使用最普遍的是（Ｃ）。
A．日或连续日B．累计24小时好天气工作日C．连续24小时好天气工作日D．24小时好天气工作日6．在进出口业务中，经过背书能够转让的单据有（Ｂ）。
A．铁路运单B．海运提单C．航空运单D．邮包收据7．按提单收货人抬头分类，在国际贸易中被广泛使用的提单（Ｃ）。
A．记名提单B．不记名提单C．指示提单D．班轮提单8．班轮提单的签发日期是指（Ｂ）A．开始装船的日期B．装船完毕的日期C．货物送至装运港的日期9．必须经背书才能转让的海运提单是（Ｃ）A．记名提单B．不记名提单C．指示提单10．海运提单之所以能够向银行办理抵押贷款，是因为( Ｄ ) 。
A.海运提单是承运人签发的货物收据B.海运提单可以转让C.海运提单是运输契约的证明D.海运提单具有物权凭证的性质11．CIF合同项下的海运提单对运费的表示应为（Ａ）。
A.运费预付B.运费到付C.运费预付或运费到付12．我与外商按CIF条件成交商品2000打，允许卖方有5％溢短装幅度，我实际装2000打（提单也表明为2000打），货抵目的港后，买方即来函反映仅收到1848打，并已取得公司短少证明，我正确答复是（Ｄ）。
Terms of payment 大全，外贸常识payment 支付，付款to pay 付款，支付，偿还dishonour 拒付deferred payment 延期付款progressive payment 分期付款payment on terms 定期付款payment agreement 支付协定pay order 支付凭证payment order 付款通知payment by banker 银行支付payment by remittance 汇拨支付payment in part 部分付款payment in full 全部付讫clean payment 单纯支付simple payment 单纯支付payment by installment 分期付款payment respite 延期付款payment at maturity 到期付款payment in advance 预付（货款）Cash With Order (C.W.O) 随订单付现Cash On Delivery (C.O.D) 交货付现Cash Against documents (C.A.D) 凭单付现pay on delivery (P.O.D) 货到付款payment in kind 实物支付payment for (in) cash 现金支付，付现pay...Co. only 仅付...公司pay...Co. not negotiable 付...公司，不准疏通pay...Co. or order (pay to the order of...Co.) 付...公司或其指定人refusal 拒绝decline 下降，下跌the refusal of payment 拒付the bank interest 银行利息something goes wrong 某事上出问题，出现差错commodity 产品convenient 方便的discount 贴现draft 汇票Promisory Note 本票cheque 支票clean bill 光票documentary bill 跟单汇票Sight Bill 即期汇票Time Bill 远期汇票Usance Bill 远期汇票Commercial Bill 商业汇票Banker's Bill 商业汇票Banker's Bill 银行汇票Commercial Acceptance Bill 商业承兑汇票Bankers' Acceptance Bill 银行承兑汇票invoice 发票Performer Invoice 形式发票Sample Invoice 样品发票Consignment Invoice 寄售发票Recipe Invoice 收妥发票Certified Invoice 证明发票Manufacturers' Invoice 厂商发票At...days (month)after sight 付款人见票后若干天（月）付款At sight 即期，见票即付At...days sight 付款人见票后若干天即付款At...days after date 出票后若干天付款At...days after B/L 提单签发后若干天付款remittance 汇付Mail transfer (M/T) 信汇Demand Draft (D/D) 票汇collection 托收Telegraphic Transfer (T/T) 电汇clean Bill for Collection 光票托收documentary Bill for Collection 跟单托收Uniform Rules for Collection 《托收统一规则》Collection Advice 托收委托书Advice of Clean Bill for Collection 光票托收委托书Collection Bill Purchased 托收出口押汇Trust Receipt 信托收据copy 副本original 正本documents against Payment (D/P) 付款交单documents against Payment at Sight (D/P sight)即期付款交单to make exception 例外sales-purchasing 促销，推销documents against Payment after Sight (D/P sight) 远期付款交单documents against Acceptance (D/A) 承兑交单dealing 交易，生意destination 目的地Cash Against Payment 凭单付款Letter of Credit (L/C) 信用证form of credit 信用证形式Terms of validity 信用证效期Expiry Date 效期Date of issue 开证日期L/C amount 信用证金额L/C number 信用证号码to open by airmail 信开to open by cable 电开to open by brief cable 简电开证fixed L/C or fixed amount L/C 有固定金额的信用证to amend L/C 修改信用证Sight L/C 即期信用证Usance L/C 远期信用证Buyer's Usance L/C 买方远期信用证Traveler's L/C 旅行信用证Revocable L/C 可撤消的信用证Irrevocable L/C 不可撤消的信用证Confirmed L/C 保兑的信用证Unconfirmed L/C 不保兑的信用证Confirmed Irrevocable L/C 保兑的不可撤消信用证Transferable L/C 可转让信用证Irrevocable Unconfirmed L/C 不可撤消不保兑的信用证Untransferable L/C 不可转让信用证Revolving L/C 循环信用证Reciprocal L/C 对开信用证Back to Back L/C 背对背信用证Countervailing credit （俗称）子证Overriding credit 母证Banker's Acceptance L/C 银行承兑信用证Trade Acceptance L/C 商业承兑信用证Red Clause L/C 红条款信用证Anticipatory L/C 预支信用证Credit payable by a trader 商业付款信用证Credit payable by a bank 银行付款信用证usance credit payment at sight 假远期信用证Uniform Customs and Practice for documentary Credits 跟单信用证统一惯例I.C.C. Publication No.400 第400号出版物Credit with T/T Reimbursement Clause 带有电报索汇条款的信用证method of reimbursement 索汇方法without recourse 不受追索Opening Bank' Name & Signature 开证行名称及签字beneficiary 受益人guarantor 保证人Exporter's Bank 出口方银行Importer's Bank 进口方银行Seller's Bank 卖方银行Buyer's Bank 买方银行Paying Bank 付款行，汇入行Remitting Bank 汇出行Opening Bank 开证行Issuing Bank 开证行Advising Bank 通知行Notifying Bank 通知行Negotiating Bank 议付行Drawee Bank 付款行Confirming Bank 保兑行Presenting Bank 提示行Transmitting Bank 转递行Accepting Bank 承兑行pay bearer 付给某人bearer 来人payer 付款人consignee 受托人consignor 委托人drawer 出票人principal 委托人drawee 付款人consignee 受托人truster 信托人acceptor 承兑人trustee 被信托人endorser 背书人discount 贴现endorsee 被背书人endorse 背书holder 持票人endorsement 背书bailee 受托人，代保管人payment against documents 凭单付款payment against documents through collection 凭单托收付款payment by acceptance 承兑付款payment by bill 凭汇票付款Letter of Guarantee (L/G) 保证书Bank Guarantee 银行保函Contract Guarantee 合约保函Payment Guarantee 付款保证书Repayment Guarantee 还款保证书Import Guarantee 进口保证书Tender/Bid Guarantee 投标保证书Performance Guarantee 履约保证书Retention Money Guarantee 保留金保证书documents of title to the goods 物权凭证Authority to Purchase (A/P) 委托购买证Letter of Indication 印鉴核对卡Letter of Hypothecation 质押书General Letter of Hypothecation 总质押书最新报关英语打全最新报关英语大全:一．单证（documents)进出口业务涉及的单证总的包括三大类：1。
Offer 报盘Brief Introduction报盘是交易磋商中必经的主要环节之一。
在出口贸易中，报盘通常是卖方向买方提出某种交易条件（包括商品名称、数量、规格、交货期等）并愿按此条件成交。
报盘有虚盘（Offer Without Engagement）和实盘（Firm Offer）两种形式。
虚盘是报盘人所作的非承诺性表示。
虚盘都附有保留条件，如“以我方最后确认为有效”（Subject to our final Confirmation）等。
一般说来，虚盘对报盘人没有约束力，较为灵活，可以根据市场变化挑选成交时机和相宜的对手，以取得有利的交易条件。
实盘是报盘人在规定的一定期限内愿按所提条件达成交易的肯定表示。
报盘在有效期内不得随意撤回或修改报盘内容。
报盘一经买方在有效期内无保留地接受，交易即告成立，双方就有了法律约束力的合同关系。
Words and Phrasesoffer 报盘，报价to offer for 对……报价to make an offer for 对……报盘（报价）firm offer 实盘non-firm offer 虚盘to forward an offer (or to send an offer) 寄送报盘to get an offer(or to obtain an offer) 获得……报盘to cable an offer (or to telegraph an offer) 电报（进行）报价offer and acceptance by post 通过邮政报价及接受to accept an offer 接受报盘to entertain an offer 考虑报盘to give an offer 给...报盘to submit an offer 提交报盘official offer 正式报价（报盘）quote 报价quotation 价格preferential offer 优先报盘cost of production 生产费用reasonable 合理的competitive 有竞争性的the preference of one's offer 优先报盘wild speculation 漫天要价Basic Expressions1. This offer is firm subject to your immediate reply which should reach us not later than the end of this month. There is little likelihood of the goods remaining unsold once this particular offer has lapsed.上述报盘以你方答复在不迟于本月底前到达我方为有效。
