[英语学习]international trade 4

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1、Chapter11PaymentIIDocumentaryCreditTHEFINANCINGOFINTERNATIONALTRANSACTIONSDocumentarycreditorLetterofCredit(L/C)Afteradvancepayment,thismethodgivestheexporterthegreatestcertaintyofobtaininghismoney,thisbeingthecasefromthemomenthereceivestheLie.Ininternationaltradethisistheidealmethodofregula

2、tingtheinterestsofbuyerandsellerinaneven-handedmanner.ThereisawidevarietyoftypesofL/C's.DisadvantageofL/CTheexpensiveL/Cishardlyusedfornormalinter-Europeantrade.ForLatinAmerica,Africa,theMiddleEastandtheFarEastitis.Thereisoneexception:itisusedworld-wideinthecommoditiestrade,whichinvolveslarg

3、eamounts,narrowmargins,tightdeliverydeadlinesandfluctuatingworldmarketprices.WithoutL/C,theseller'sriskwouldbetoobig.WhatisaletterofcreditAnL/Cisessentiallyastatementbytheimporter'sbanktotheexporter,confirmingitscommitment,inexchangeforthestipulateddocuments,topaytheagreedpurchasemoney,ortob

4、eliablefortheacceptanceandpaymentofbillsamountingtothatsum.TheL/Cisusuallytransmittedtotheexporterviaacorrespondentbankinhisowncountry.Thedocumentarycreditchangestheexporter'scommercialriskontheimporterintoariskonthebankwhichopensthecredit.UseofLettersofCreditManyL/Csaremadesubjecttothe'Unif

5、ormCustomsandPracticefordocumentarycredits,1993revision,ICCpublicationno.500',abbreviatedtoUCP500.AlthoughtheyhavebeenendorsedbytheUN,theextentoftheiruseisnotcomparablewiththatoftheIncoterms2000.WiththeeUCPof2002,theICChassetrulesfortheeraof'paperlesstrade'.Theyareusedforairtransport,butnoty

6、etfortheothermeansoftransportwheretheconventionsstillrequiredocumentsonpapertoaccompanythegoods.FourpartiesusuallyinvolvedinanL/C1.TheimporterwhorequestshisbanktoopentheL/C.Thefinancialrelationshipbetweenthesetwoisnotdiscussedhere.2.Theissuingbank(frequentlythebuyer'sbank)thatopenstheL/Cinth

7、eimporter'scountry.Itassumesresponsibilityforthepayment.3TheadvisingbankIntheexporter'scountry.Thisbankmaybepreparedtoactasguarantor.Thisisreferredtoasconfirmationofthecredit.4.Theexporterwhoisthebeneficiary.FourpartiesinvolvedinL/CtransactionTheex