国际贸易实用英语 教学课件 作者 姜宏 Unit 3 Letter of Credit.ppt

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1、国际贸易实用英语制作人：姜宏制作时间：2010年9月1日Unit3LetterofCredit信用证TolearndifferentmodesofpaymentandadvantagesofL/CToknowtheworkingproceduresofletterofcreditTobeabletoapplyforopeninganL/CTobeabletoanalyzeL/CtermsandconditionsObjectives3.1DiscussingModeofPayment3.1DiscussingModeofPaymentLetter

2、ofcredit(L/C)isadocumentissuedininternationaltrade.Itworkslikethis.Thebuyeraskshisbanktoopenacreditintheseller’sfavor.Acreditisasumofmoneyonthebooksofabank.Beingintheseller’sfavormeansitbelongstotheseller.Thenabankintheseller’scountryiscontacted.Thebuyer’sbankissuesaletterofcr

3、editandsendsittothesellerthroughitscorrespondentbankintheseller’scountry.Theletterofcreditlistsdocumentswhichthesellermustgivetohisbankbeforetheywillpayhim.Usuallythesedocumentsshowthatthegoodsareontheirwaytothebuyer.Theymightbeaninvoice,insurancepolicyandbilloflading.Sothegoo

4、dswouldhavetobenamed,insuredandonboardshipbeforethesellercouldreceivepayment.AdvantagesofLetterofCreditFromtheperspectiveoftheexporter,lettersofcredithavefourprimaryadvantagesoversalesonopenaccount.First,withaletterofcredit,thecreditworthinessandfinancialintegrityofthebankissu

5、bstitutedforthatoftheimporter,andexportersseelessriskofnonpaymentwhenthebankistheguarantor.Second,assoonastheexportermeetsthetermsandconditionsspecifiedintheL/C,paymentisassured.Aslongasthepaperdocumentsareinorder,thebankisobligatedtopayeveniftheimporternolongerwantsthemerchan

6、diseorfindsitunsuitableordamaged.Thethirdadvantageofaletterofcreditoveranopenaccountisthattheexportercanusuallyobtainpaymentassoonasthenecessarydocumentationhasbeenprovidedtofulfillthecontract.Byshorteningthecollectionperiod,fewerfundshavetobetiedupinworkingcapital.Thefinalmaj

7、oradvantageoflettersofcreditisthattheyeliminateamajorriskfacingexporters,thepossibilitythatgovernmentsmayimposerestrictionsonpayment.AdvantagesofLetterofCreditFromtheperspectiveoftheimporter,therearetwodefiniteadvantagestousinglettersofcredit.SincetheL/Cspecifiestheactionsthat

8、mustbetakenbeforetheexportercanbepaid,thechanceofnoncomplianc