文档介绍：Chapter Four
International Payment
The basic methods of payment in international trade
Payment in advance
Open account
Documents against payment
Open account
Net monthly account
Open account, 90 days from arrival of the goods
Open account, 90 days from invoice date
Open account, cash within 30 days,
1% discount
Documents against payment
D/P at sight
D/P after sight
D/P after date
exporter
Remitting bank
(exporter’s bank)
importer
Collecting bank
(importer’s bank)
(1)Sign contract
(2)application/draft at sight
(3)mandate, draft, a set of documents
(4)Presentation for payment
Procedure of D/P at sight
(5)Payment against transfer of shipping documents
(6)transfer
(7)payment
Bills of Exchange
Definition of Bill of Exchange
A bill of exchange, also called draft, is defined as “ an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money, to or to the order of a specified person, or to bear”.
The operation process of draft
To draw
Presentation
Acceptance
Payment
Endorsement
Dishonor
recourse
To draw出票
To draw is to fill up by the drawer the particulars in a bill of exchange the date of drawing, the name of the drawee, the time and amount of the payment, etc. The draft is signed by the drawer and then sent to the payee
There are three kinds of ways to fill up the payee:
*restrictive payee, such as pay…Co. only, pay …Co. not transferable.
*To order, such as pay… Co. or Order or Pay to the order of… Co. This type requires endorsement when transferable.
*To bear, such as pay bearer. This type requires no endorsement.
Presentation提示
The act of taking the bill to the drawee and demanding that he make the payment or accept the bill is known as presentation. For a sight bill, payment should be made at the same time when the presentation is made, and for a tile bill, the drawee is req