发布时间 : 星期日 文章国际商务英语简要和课后答案更新完毕开始阅读
11. Sight draft即期汇票: The draft calls for immediate payment on presentation to
the drawee.
12. Usance draft远期汇票=Term draft = Tenor draft: The draft is payable at a later
date on presentation to the drawee.
13. Clean draft光票: The draft without documents
14. Documentary draft跟单汇票: The draft is accompanied by the relevant
documents.
15. Documentary collection跟单托收: It is means of ensuring that the goods are
only handed over to the buyer when the amount shown on a bill of exchange is paid or when the customer accepts the bill as a contract to pay by a specified date. 16. Open account记账交易
17. D/P付款交单: Documents against payment 18. D/A承兑交单: Documents against acceptance 19. D/P at sight 即期付款交单 20. D/P after sight 远期付款交单 21. Title to the goods货物所有权
22. Ownership to the goods货物所有权 23. Insurance policy保险单
24. Remittance 汇付: This method is always employed by the parties who are
familiar with and trust each other
Answer the following questions:
1. Why is it difficult to effect payment in a straightforward manner in
international trade?
A: Purchase and sale of goods and services are carried out beyond national boundaries, which makes it rather difficult for the parties concerned in the transaction to get adequate information about each other’s financial standing and creditworthiness. Therefore, mutual trust in hard to build. Both the exporter and the importer face risks as there is always the possibility that the other party may not fulfill the contract.
2. Mention some of the risks the exporter and the importer may face in trade.
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A: For the exporter there is the risk of buyer default. The importer might fail to pay in full for the goods. He might go bankrupt; his government might, for various reasons, ban trade with the exporting country or ban imports of certain commodities; the buyer might run into difficulties getting the foreign exchange to pay for the goods. It is even possible that the buyer is not reliable and simply refuses to pay the agreed amount on various excuses.
For the importer, there is the risk that the shipment will be delayed, and he might only receive them long after payment. The delay may be caused by problems in production or transportation, and such delays may lead to loss of business. There is also a risk that wrong goods might be sent as a result of negligence of the exporter or simply because of his lack of integrity.
3. Explain briefly the following methods of payment: cash in advance; open
account; consignment transactions.
A: Cash in advance: in this case, the importer has no guarantee that the exporter will fulfill his obligations once he has made payment by cash.
Open account: in this case, the buyer and the seller know each other will. No documents are involved and that legally the buyer can pay anytime. The seller loses all control over the goods once they have been shipped. Sales on this basis are usually paid for by periodic payments, and obviously the exporter must have sufficient financial strength to carry the cost of the goods until receiving payment.
Consignment transactions: in this case, the exporter wishes to retain title or ownership to the goods, he has to send his goods abroad and will not get payment until the goods are sold. If not sold, the goods can be shipped back. Therefore this arrangement should only be made with full understanding of the risks involved and is preferably to be limited to stable countries where the exporter has a trusted agent to look after his interest.
4. What is a draft? Dose it have another name? What are the relevant parties in
relation to a draft?
A: A draft also called the ill of exchange is an unconditional order to a bank or a
customer to pay a sum of money to someone on demand or at a fixed time in the future.
The person who draws the draft, usually the exporter, is called the drawer, and the person to whom the draft is drawn is called the drawee. There is yet another party the payee, i.e. the person receiving the payment, who and the drawer are generally but not necessarily the same person.
5. What is the difference a sight draft and a usance draft and what is the
difference between a clean draft and a documentary draft?
A: A sight draft calls for immediate payment on presentation to the drawee while a usance draft is payable at a later date e.g. 30,45,60 or 90.
A clean draft is a draft without documents, and a documentary draft is accompanied by the relevant documents such as the bill of lading, the invoice, the insurance policy etc.
6. What is documents against payment? What are D/P at sight and D/P after
sight?
A: Documents against payment is a means of documentary collection that the relevant documents will not released to the importer until payment is effected.
D/P at sight requires immediate payment by the importer to get hold of the documents. D/P after sight gives the importer a certain period after presentation of the documents, but documents are not released to him until he actually pays for the merchandise.
7. What is the difference between D/A and D/P after sight? Which is more
favorable for the exporter?
A: D/P after sight gives the importer a certain period after presentation of the documents, but documents are not released to him until he actually pays for the merchandise. In the case of documents against acceptance (D/A), documents are handed over to the importer upon his acceptance of the bill of exchange drawn by the exporter. Payment will not be made until a later date. D/A is always after sight.
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So far as the exporter’s interest is concerned, D/P at sight is more favorable than D/P after sight, and D/P is safer then D/A.
8. Is payment by collection very common in international trade? Mention some
cases when collection is used.
A: Payment by collection is not very common in actual trade. It is usually used when the financial standing of the importer is sound, or when the exporter wishes to push the sale of his goods, or when the transaction involves only a small quantity.
Translate the following sentences into English:
1. 在国际贸易中进出口双方都面临风险，因为总存在对方不履约的可能。 In international trade, both the exporter and the importer face risks, as there is always the possibility that the other party may not fulfill the contract.
2. 为处理国际贸易中的不同形势，各种支付方法便发展了起来。
Various methods of payment have been developed to cope with different situations in international trade.
3. 许多国际交易是通过汇票支付的，汇票是对银行或顾客的支付命令。
A lot of international transactions are paid for by means of the draft, which (, also referred to as the bill of exchange,) is an order to a bank or a customer to pay.
4. 即期付款交单要求进口商立即付款以取得单据。
Documents against payment at sight requires immediate payment by the importer to get hold of the documents.
5. 就出口商而言，即期付款交单比远期付款交单有利，付款交单比承兑交单有
利。
So far as the exporter’s interest is concerned, D/P at sight is more favorable then d/P after sight, and D/P is more favorable then D/A.
Lesson 11
The Letter of Credit (I)
Business Knowledge:
(1) The definition of the letter of credit
(2) The unique and characteristic feature of the letter of credit
(3) The relevant parties of the letter of credit and their roles in its process of
operation
A. The applicant B. The opening bank C. The advising bank D. The beneficiary
E. The negotiating bank F. The confirming bank
(4) The major contents of the letter of credit
(5) The documents being the only concern of the banks in credit operation. Terms:
1. Applicant (Opener or Principal)申请人: The person who instructs his bank to
issue an L/C. (the importer)
2. Opening bank (Issuing bank, Establishing bank)开证行: The bank that issues
the credit
3. Beneficiary受益人:The exporter in whose favor the credit is opened
4. Correspondent band往来行、关系行:The bank in the exporter’s country, which
the opening bank sends the credit to it
5. Advising bank通知行: The bank in the exporter’s country, which advises the
exporter the L/C, is received. 6. Amendment修改
7. Confirming bank保兑行: The bank adds its confirmation to the credit. 8. Reimburse偿付 9. Unit price单价
10. Partial shipment分批装运 11. Transshipment转运
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12. The uniform customs and practice of documentary credits跟单信用证统一惯例 13. In favor of 以?为受益人的 14. The carrying vessel载货船只
15. The letter of Credit (L/C、L/C)信用证:The credit is a letter issued by a bank at
the request of the importer in which the bank promises to pay upon presentation of the relevant documents.
16. Paying bank付款行: The bank accepts or negotiates the bill of exchange.
17. Negotiating bank议付行: The bank buys the exporter’s draft submitted to it
under a credit.
Answer the following questions:
1. What constitutes conflicting problems for international trade in respect of
payment? Why?
A: In international trade it is almost impossible to match payment with physical delivery of the goods, since the exporter prefers to get paid before releasing the goods and the importer prefers to gain control over the goods before paying the money.
2. What is the unique feature of the letter of credit? How does it offer security
to the buyer and the seller?
A: The bilateral security is the unique and characteristic feature of the letter of credit. The seller has the security to get paid provided he presents impeccable documents while the buyer has the security to get the goods required through the documents he stipulates in the credit.
3. When was the modern letter of credit introduced and when did it have
substantial development? What are the other names of the letter of credit? A: Modern credits were introduced in the second half of the 19th century and had substantial development after the First World War. “Letter of credit” is often shortened as L/C or L.C. and is sometimes referred to as “banker’s commercial letter of credit”, “banker’s credit”, “commercial credit” or simply “credit”.
4. Why does the exporter sometimes require a confirmed letter of credit? Who
usually adds confirmation to the credit?
A: Sometimes the exporter may require a confirmed letter of credit, either because the credit mount is too large, or because he does not fully trust the opening bank. The confirming bank usually adds its confirmation to the credit.
5. What are the main contents of a letter of credit? Mention these items (at least
10 items).
(1) The number of the credit and the place and time of its establishment. (2) The type of the credit
(3) The contract on which it is based.
(4) The major parties relevant to the credit, such as the applicant, opening bank,
beneficiary, advising bank, etc. (5) The amount or value of the credit.
(6) The place and date on which the credit expires.
(7) The description of the goods including name of commodity, quantity,
specifications, packing, unit price, price terms, etc.
(8) Transportation clause including the port of shipment, the port of destination, the
time of shipment, whether allowing partial shipments or transshipment. (9) Stipulations relating to the draft. (10) Stipulations concerning the shipping documents required. (11) Certain special clauses if any, e.g. restrictions on the carrying vessel and the route. (12) Instructions to the negotiating bank. (13) The seal or signature of the opening bank. (14) Whether the credit follows “the uniform customs and practice for documentary
credits”.
6. What are the banks concerned with in credit operations? Does a credit
guarantee that the goods invoiced are those purchased?
A: In credit operations all parties concerned deal in documents, and not in goods, service and / or other performance to which the documents may relate. It does not guarantee that the goods purchased will be those invoiced or shipped.
7. In case of problems with the quality or quantity of the goods, whom shall the
buyer contact so long as the documents comply with the terms and conditions
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of the credit?
A: If the importer (buyer) finds any problems with the goods, e.g. inferior quality or insufficient quantity, he has to contact or even take legal action against the exporter (seller) instead of the bank so long as the documents are “proper” on their face. Translate the following sentences into English:
1. 在国际贸易中几乎不可能使付款和实际交货同时进行。
In international trade it is almost impossible to match payment with physical delivery of the goods.
2. 信用证付款方式对买卖双方都提供保障。
The method of payment by the letter of credit offers security to both the seller and the buyer.
3. 现代信用证在19世纪后半叶开始采用，第一次世界大战后得到了实质性的
发展。
Modern credits were introduced in the second half of the 19th century and had substantial development after the First World War.
4. 要么因为信用证金额过大，要么因为对开证行不完全信任，出口商有时可能
需要保兑的信用证。
Either because the credit mount is too large, or because he does not fully trust the opening bank, the exporter may require a confirmed letter of credit. 5. 信用证的形式、长短、语言和规定各不相同。
Letters of credit are varied in form, length, language, and stipulations.
Lesson 12
The Letter of Credit (II)
Business Knowledge:
(1) Major types of credits and their functions, forms and mechanism
A. Clean credit and documentary credit B. Revocable credit and irrevocable credit C. Confirmed credit and unconfirmed credit D. Sight credit and usance credit