文档介绍：Payment Terms
Longer distance & More procedures
Longer time
Regulations & legal systems
ary conversion & financial matters
SAFE – State Administration of Foreign Exchange
SAEC - State Administration of Exchange Control
Things can be used to pay foreign debts? Instruments
Instruments (negotiable) ,FE
cash
Promissory Note Pro
Bill of Exchange (B/E) ,
Money order
Credit card
Terms, party
Drawer, issuer, maker,
Drawee, payer
Payee
Holder, bearer
Endorser
Acceptor
Promissory Note
An unconditional promise in writing made by one person(maker) to another(payee/holder) signed by the maker engaging to pay on demand a sum of money to or to the order of a specified person or to bearer
Legal person
Drawer payer
Promissory Note
An unconditional promise in writing …
Parties
Drawer payer(drawee)
Payee
B/E – Bill of Exchange
An unconditional order in writing signed by one party(drawer) requested a second party(drawee, payer) to make payment in lawful money immediately or at a determinable future time to a 3rd party(payee)
Definite amt(USD5 or 6; USD6 plus interest; about USD2000)
Determinable future time(grown up, marriage)
Order
B/E Parties
Drawer
Drawee/payer
Payee
Endorser
Acceptor
Intr. Clearing system
Bill of Exchange
USD500,
Bank of China, Dalian Branch
Bank of America, New York
Dalian Machinery Import and Export Co. Ltd.
At sight
,2011 Dalian, China
USD500,
Bank of China, DLKFQ Br.
Bank of America, New York
Dalian Machinery Import and Export Co. Ltd.
At sight
,2012 Dalian, China