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
(2)
E. Transferable credit and non-transferable credit F. Non-draft credit G. Revolving credit
The limitations of the letter of credit
A. Inability to provide absolute security
B. Being more expensive than other forms of payment
Terms:
1. Clean credit光票信用证: The credits only require clean draft. 2. Non-trade settlement非贸易结算
3. Revocable credit可撤消信用证: The credits can be altered or even canceled
without consulting with the beneficiary.
4. Irrevocable credit不可撤消信用证: The credits can not be amended or revoked
without the consent of all the parties concerned. 5. Maturity到期，满期 6. Nationalize国有化
7. Confirmed credit保兑信用证: The credit is confirmed by a bank other than the
issuing bank
8. Leading bank (Prime bank, First rate bank)主要银行
9. Sight credit即期信用证: The credit by which payment can be made upon
presentation of the draft and impeccable documents by the beneficiary to the bank.
10. Usance credit (Term credit, Time credit)远期信用证:The credit by which
payment cannot be made until a specific date or a specific time after the date of after sight.
11. Capital turnover资金周转 12. Face value面值
13. Transferable credit可转让信用证: The credit can be transferred by the original
beneficiary to one or more parties.
14. Non-transferable credit不可转让信用证: The credit can not be transferred. 15. Non-draft credit无汇票信用证: The credit that payment of to be made by
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presentation of the documents without the formality of drawing and presenting a draft.
16. Discount折扣
17. Deferred payment延期付款
18. Revolving credit循环信用证: The credit stipulated that its amount can be
renewed or reinstated without specific amendment to the credit being made. 19. Insolvent无支付能力的
20. The documentary credit跟单信用证: The credits that require shipping
documents to be presented together with the draft. 21. A particular transaction一笔特定的交易
Answer the following questions:
1. Explain the difference between clean credit and documentary credit. Where
is the former generally used?
A: Credits that only require clean draft, i.e. draft not accompanied with shipping documents, for payment are clean credit. They are generally used in non-trade settlement or in payment in advance by means of the L/C.
2. What is an irrevocable letter of credit? If a credit is not specified as revocable
or irrevocable, what type should it be regarded?
A: The credits can not be amended or revoked without the consent of all the parties concerned is an irrevocable letter of credit. If a credit is not specified as revocable or irrevocable, it should be regarded as irrevocable.
3. By whom is confirmation undertaken in the case of a confirmed letter of
credit?
A: The confirmation is undertaken either by the advising bank or by another leading bank.
4. Since a confirmed credit provides the greatest degree of security to the
beneficiary, it should be used for all transactions. Is this statement right?
Why?
A: No. It involves additional cost as a result of the confirmation. If the establishing bank is a reliable prime bank, confirmation may not be necessary.
5. What is the advantage of a sight letter of credit to the beneficiary?
A: It gives the beneficiary better security and helps him speed up his capital turnover.
6. What does the beneficiary do in the case of a usance credit if he wishes to get
payment before the maturity of the draft?
A: If the beneficiary wishes to get payment before the maturity of the draft, he can ask the bank to discount the acceptance, and immediately pay him the net proceeds.
7. How many times and to how many parties can a credit be transferred?
A: A credit can be transferred only once. There are two parties involve: the first beneficiary and the second beneficiary.
8. In what situation is a revolving letter of credit most useful?
A: It is particularly useful when the buyer and seller have regular trading relationship and deal in a specific quantity of goods each month or any particular period of time.
9. Can the letter of credit provide absolute security for the contracting parties?
What losses may the seller or the buyer still sustain?
A: It cannot provide absolute security for the contraction parties. The seller may sustain losses because of the buyer’s delay or even failure in the establishment of credit. The buyer may suffer losses as result of the documents presented by the seller which do not truly represent the goods shipped. And it is not absolutely avoidable that the bank may become insolvent or bankrupt.
10. What is a non-draft credit? How many types can it be classified into?
A: The credit that payment of to be made by presentation of the documents without the formality of drawing and presenting a draft.
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Translate the following sentences into English:
1. 信用证按其作用、形式和机制分作不同的种类。
Letters of credit are classified into different types according to their function, form and mechanism.
2. 光票信用证主要用于非贸易结算，而在商品贸易中一般使用跟单信用证。 Clean letters of credit are mainly used in non-trade settlement, while the documentary credits are generally used in commodity trade.
3. 在即期信用证情况下，提示汇票和正确无误的单据后便立即付款。
In the case of sight credits, payment can be made promptly upon presentation of draft and impeccable documents.
4. 远期信用证显然要使用远期汇票。付款期限可为30天、60天甚至可长达180
天。
A usance credit obviously calls for a time draft, and the usance varies from 30, 60, to as long as 180 days.
5. 如果信用证可以由原受益人转让给另一个或几个人，那么这种信用证即为可
转让信用证。原受益人称作第一受益人，接受转让的人称作第二受益人。 A little of credit is called transferable if it can be transferred by its original beneficiary to one or more parties. The original beneficiary is called the first beneficiary and the party (or parties) the credit is transferred to is called the second beneficiary.
6. 对于一笔具体交易来说，信用证不一定是最理想的付款方式。缔约双方应根
据具体情况做出最好的选择。
The letter of credit may not be the most ideal method of payment for a particular transaction, and the contraction parties should make their best choice according to the specific conditions.
Lesson 13
Major Documents Required in World Trade
Business Knowledge:
(1) The importance of correct documentation (2) Major types of documents A. Commercial Invoice
a. Major contents b. Points to be noted B. Packing list
a. Major contents
b. Documents with similar function: specification list; weight list (weight note;
weight memo)
C. The bill of lading
a. 3 major functions b. Major contents
c. Clean on board bill of lading d. Airway bill and cargo receipt
D. Insurance policy and insurance certificate
a. Major contents
b. The difference between the two E. Various certificates Terms:
1. Documents单据
2. Documentation单据的制作或使用 3. Take delivery of提（货） 4. Commission佣金 5. Discount折扣
6. Shipping marks唛头、运输标记 7. Bill of lading提（货）单
8. Carrier承运人: The shipping company 9. Shipper货主、托运人、发货人
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10. Consignor托运人 11. Carriage运输，运费 12. Consignee收货人
13. Notify party到货通知人、被通知人 14. Payable应支付的、可支付的 15. Airway bill空运（提）单 16. Railway bill收货单（铁路）
17. Insurance policy保险单（大保单） 18. Insurance certificate保险单（小保单） 19. Cargo receipt铁路运单、货运收据
20. Commercial invoice商业发票: The document is the general description of the
quality and quantity of the goods and the unit and total price. The contents: Invoice number and the date; name and address of the buyer and the seller; contract number and credit number; description of the goods including name of the commodity, quantity, specifications, etc.; unit price, total price, price terms, and commission and discount if any; terms of delivery and terms of payment; packing, shipping marks, etc.; and seal or signature of the exporter. 21. Legal holder合法持有人 22. Customs invoice海关发票 23. Consular invoice领事发票 24. Consular visa领事签证 25. Shipping advice装船通知 26. Certificate of quality品质证书 27. Certificate of weight重量证书 28. Certificate of quantity数量证书 29. Certificate of health健康证书
30. Certificate of disinfection消毒证书 31. Certificate of origin产地证书 32. Veterinary certificate兽医证书
33. Packing list装箱单: The documents gives information such as the number, date,
name and description of the goods, shipping marks, packing, number of packages,
specific contents of each package and its net with and gross weight etc.
34. Straight bill of lading记名提单: It is made out so that only the named consignee
is entitled to take delivery of the goods under the bill. 35. Port of shipment发货港、装运港、起运港
Answer the following questions:
1. What are the possible consequences of incorrect documentation?
A: If the documents are not eh correct ones, the importer will have difficulties in taking delivery of the goods.
2. What factors decide the types of documents required for a particular
transaction?
A: Different documents are required for different transactions, depending on the nature of the deal, the term of delivery, the type of commodity, stipulations of credit, regulations and practices in different countries, etc.
3. What is a commercial invoice? What is the relation between the commercial
invoice and other documents? Mention some of the major contents to be included in a commercial invoice.
A: A commercial invoice is the general description of the quality and quantity of the goods and the unit and total price. It constitutes the basis on which other documents are to be prepared, and the banks check the conformity between credit terms and documents and the conformity between the documents. The contents: Invoice number and the date; name and address of the buyer and the seller; contract number and credit number; description of the goods including name of the commodity, quantity, specifications, etc.; unit price, total price, price terms, and commission and discount if any; terms of delivery and terms of payment; packing, shipping marks, etc.; and seal or signature of the exporter.
4. Mention 2 types of shipping documents that are similar in function to the
packing list. What is the difference between them and the packing list?
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A: Specification list that emphasizes the description of the specifications of the goods. The weight list, weight note, or weight memo that put emphasis on the weight of the goods and are generally used for goods that are based on the weight for price calculation.
5. What are the 3 major functions of the bill of lading?
(1) B/L serves as a cargo receipt signed by the carrier and issued to the shipper
or consignor.
(2) B/L constitutes a contract of carriage between the carrier and the consignor. (3) B/L is a document of title to the goods, and the legal holder of it is the owner
of the goods it covers.
6. What is a clean on board bill of lading? Is a foul (not clean) bill of lading
acceptable?
A: The clean bill of lading is one that states that the goods have been shipped in apparent good order and condition. A foul bill of lading is not acceptable for negotiating.
7. Give the names of the counterparts of the ocean bill of lading in the case of
air transportation and railway transportation.
A: For air transportation the document is called airway bill, and in railway transportation is called cargo receipt.
8. In what currency should the goods be insured? Where are insurance claims
to be settled?
A: The currency of the amount insured should be the same as that of the credit. The port of destination is taken as the place for settling claims.
9. Is it acceptable for the date of the insurance document to be later than the
date of the Bill of Lading? Why?
A: No, it is not accepted. Because if the date is later than the B/L means the goods is not covered by the insurance in this period.