金融专业英语Leon7 银行的国际贸易支付与结算_商业银行金融专业英语
金融专业英语Leon7 银行的国际贸易支付与结算由刀豆文库小编整理，希望给你工作、学习、生活带来方便，猜你可能喜欢“商业银行金融专业英语”。
Leon 7Methods of Payments and Settlements of International Trade in Banks
In contracts for the sale of goods abroad, the terms of payment of the purchase price and the methods of settlement are matters to be negotiated between the exporter and the buyer.The desire of the exporter is to obtain the purchase price as soon as poible and not to part with the documents of title to the goods before he receives payment, or, at least, before he is certain that his draft has been accepted;while the buyer, on the other hand, wishes to postpone payment of purchase price until he has an opportunity of reselling the goods.As a result, the following principal methods of payment have been put into use:
1.Payment on Open Account:
When the exporter is well acquainted with the financial status of the buyer and entertains no doubt about his solvency, or when the exporter sells goods to his own overseas branch or subsidiary, he may be prepared to ship his goods on open account.Under this device, the exporter sends his shipping documents to the buyer who remits in due course or at agreed intervals the agreed price either by T/T, or by M/T, or by D/D through a bank.The exporter makes no precise date for payment of the goods shipped.Instead, he is prepared to rely on his past experience of buyer's integrity to effect settlement at the proper time.2.Collection of Documentary Bills Through Banks:
A documentary bill is a bill of exchange accompanied by documents of title to goods.It is drawn for the price of the goods.The documents of title are usually a bill of lading and an insurance policy or certificate, together with a commercial invoice, a certificate of origin, etc.The remitting bank should examine the documents to see that they purport to be what they ought to be.It is an international practice that the bank is not responsible for the genuinene of the documents.The documents are usually prepared in two sets.The original set is dispatched to the remitting bank's branch or correspondent for presentation to the drawee for payment or for acceptance according to the term of the bill of exchange.The second or duplicate set follows by a later mail and will only be made use of if the first or original set happens to be lost.Documentary bills are sometimes marked with “Documents upon Payment(D/P)” or “Documents upon Acceptance(D/A)”, that is, the documents are to be delivered to the drawee upon his payment or upon his acceptance of the bill.When a documentary bill is presented to the drawee for payment or for acceptance, he is entitled to inspect the documents.If it is a D/P bill, it is usual for the collecting bank to leave a notice saying that the documents may be inspected at the bank.If it is a D/A bill, the practice of banks is to leave the documents with the drawee for twenty-four hours, but he must not retain them longer unle he accepts the bill.3.Documentary Letters of Credit:
Documentary credits mean any arrangement whereby a bank(the iuing bank), acting at the request and on the instructions of a customer(the applicant for the credit),is to make a payment to a third party(the beneficiary), against stipulated documents, provided that the terms and conditions of the credit are complied with.Besides payment advance, documentary letters of credit represent the safest and fastest method of securing settlement for exports, because the exporter can retain personal control of documents of title to the goods until the moment of payment of acceptance of a bill of exchange.After the terms of the contract call for payment under a credit between two parties, the applicant applies to the iuing bank to open a credit in favour of the exporter, who is also the beneficiary.Before iuing a credit, the bank must make certain of its customer's credit worthine.The status inquiry by the iuing bank on the importer is very important.If it is satisfactory, the credit is then advised to the exporter through an advising bank in his own country, in accordance with the terms of the credit the iuing bank makes sure that the exporter will be paid for his goods provided he complies with certain stated conditions, these will call for certain documents such as invoices, bill of lading and insurance documents, including the quantity and quality of goods agreed in the contract between the exporter and the importer abroad.If the documents given to the advising bank agree exactly with the requirements of the credit, the exporter receives the payment due to him in exchange for the documents.Then the paying bank sends the documents to the iuing bank by airmail.Upon receipt, they are handed to the importer, When the ship docks, the importer presents the bills of lading to the representatives of the shipping company and receives the goods.4.Bank Guarantees(自学)
In international trade, on the one hand, the buyer wants to be certain that the seller is in a position to honour his commitment as offered or contracted.The former therefore makes it a condition thatappropriate security be provided.On the other hand, the seller must find a way to be aured of receiving payment if no special security is provided for the payment such as in the open account busine and documentary collections.Such security may be obtained through banks in the form of a guarantee.A bank guarantee is used as an instrument for securing performance or payment especially in international busine.A bank guarantee is a written promise iued by a bank at the request of its customer, undertaking to make payment to the beneficiary within the limits of a stated sum of money in the event of default by the principal.It may also be defined as the irrevocable obligation of a bank to pay a sum of money in the event of non-performance of a contract by the principal.Distinguished from a letter of credit, a bank guarantee is an undertaking which will be brought into effect by the guarantor, namely the bank, only if the principal fails to pay or perform and so the bank is secondarily liable to the beneficiary.However, under a payment guarantee, it is stipulated that the bank undertakes to pay, provided the documents presented are in compliance with the terms and conditions of the guarantee.The forms of a letter of guarantee are various.Every bank in the world seldom follows the Uniform Rule for Contract Guarantee and uses its own forms instead.For instance:
PERFORIVIANCE GUARANTEE
To:
(Foreign buyer)Date:
Performance Bond No.Contract No.of
Betweenand
hereafter referred to as the vendor, a contract for delivery of
under No.was entered into onat a total price of
CIF/FOB_.We,(bank), hereby irrevocably
guarantee the correct fulfillment of the above-mentioned contract by the vendor and undertake hereby irrevocably to make a payment at once of an amount up to a total of___(in words)on your first written demand against return of the original of this document and your written declaration that the vendor has not complied with the contract.Our liability under this guarantee expires at the latest on.Claims must be made by registered letter or cable to reach us by that date, otherwise our liability becomes invalid.The original of this document must be returned to us after expiry or on settlement of claims under the guarantee, In case of a claim under the guarantee, we shall make payments according to the regulations in force concerning payment transaction betweenand.For
bank
Exercises:
I.Translations:
1．支付方．2．延期支寸货款3．赊账4．装运单证5．付款／承兑交单6．跟单托收7．履行其承诺8．书面承诺9．产地证明10．预付货款
II.C TO E:
1．不可撤销信用证为受益人提供了高度的保证。
2．跟单信用证业务基本包括三个当事人：开证申请人、开证行、受益人。
3．信用证业务使银行在进口商和出口商之间起到了中间人的作用。
4．在付款交单方式下，付款之前，买方不能取得代表货物所有权的单据和提取货物。
5．银行办理托收业务对于付款人付款与否并不承担责任，所以托收仅是一种商业信用。
6．银行保证书是由银行向受益人提供的一种防止违约的付款承诺。就其在实际中的作用而言，它几乎相当于跟单信用证。银行承担向受益人付款的责任。但保函与信用证不同在于它不是一种付款方式，而是一种保障付款或履行其他义务的法律工具。而且，付款条件也不同，后者要提交运输或者其他单据，而前者只需受益人提交简单的报告书。
III.E TO C:
A documentary collection is the collection of a sum due from a buyer by a bank acting on behalf of a seller against delivery of certain documents.It is a method of payment, like a documentary credit.The documentary collection is an alternative to the letter of credit.It is often used when the buyer and seller know each other from prior transactions, when the amount is small, when financing from the bank is unneceary, or when the buyer and seller wish to avoid the expense of the letter of credit.The documentary collection provides the buyer and the seller with a greater degree of protection than shipping on open account.In the documentary collection, documentary bills are sometimes marked with6‘Documents against Payment“ or ”Documents against Acceptance".In either documents against payment or documents against acceptance, a bank is not liable beyond following the instructions given by the seller and exercising normal care in protecting the documents.If the buyer refuses either payment or acceptance, as the case may be, the merchandise remains the property of the seller.This is the risk that the seller faces in a collection.
