Unit 7 Payment & L\C To be familiar with payment terms and methods of payment.

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Presentation transcript:

Unit 7 Payment & L\C To be familiar with payment terms and methods of payment

Introduction Three basic methods of effecting payments in international business: Unit Eleven Terms of Payment( 付款条件 ) Unit Eleven Terms of Payment( 付款条件 ) Remittance ( 汇付 ) Mail Transfer ( M/T ) ( 汇付 ) Telegraphic Transfer ( T/T ) ( 汇付 ) Demand Draft ( D/D ) ( 票汇 )

Introduction Three basic methods of effecting payments in international business: Unit Eleven Terms of Payment( 付款条件 ) Unit Eleven Terms of Payment( 付款条件 ) Collection ( 托收 ) collection on clean bill ( 光票托收付 ) documentary collection ( 跟单托收 )

国际贸易的四种付款方式 1. 预付现金（ cash in advance) 2. 跟单信用证 (documentary credits) 3. 跟单托收 (collection) 4. 赊账 (open account)

Dialogue1 1. Shall we go on with our business discussion? 2.Since we have discussed the price, quantity, packing and shipment, let’s talk about the terms of payment. 3.When dealing with a new customer, we usually require 100% value, irrevocable L\C in our favor available by draft at sight.

Sentences 4.Payment by L\C is the safest method, but it is too complicated. Could you make an exception and accept D\A or D\P?

5.We insist on payment by L\C 6.When I open a letter of credit with a bank, I have to pay a deposit. That I ‘ll tie up my funds and add to my cost.

7.You must be aware that a confirmed and irrevocable L\C gives the exporter the additional protection of the banker’s guarantee.

8.It seems that I have no alternative other than accept L\C payment terms. 9.I hope you will consider our requirement when you have known our credit after several deals.

10. We may consider accepting payment by D\P for old customers. 11.i’m glad we have brought this transaction to a successful conclusion and hope this will be the beginning of other business in the future.

Practice 1. Students read the above expressions and be familiar with them. 2.listen to the video and finish Exercise 1 & 2.

Dialogue 2 Listen do do exercises

Useful expressions Read the useful expressions on Page 75. textbook

Oral practice. Situation :Mr.Brown(importer),represen tative of TJ Morris Ltd, is meeting with Wang Jun (exporter),Marketing Manager of Hunan Provincial Industrial Products Corp. in Miss Wang’s office. They have settled the price, quality and quantity on the commodity of Honyar electric swicthes. Now they are talking about the terms of payment.

Party A ---invite the counter party to negotiate the payment terms. ---suggest D\A or D\P ---explain L\C will increase the cost of import ---insist on D\A or D\P ---compromise on other terms if D\A or D\P is acceptable ---suggest to pay half of the sales proceeds by sight L\C ---accept sight L\C ---promise to open sight L\C next week ---ask for prompt shipment.

Party B ---state that you only accept irrevocable sight L\C ---insist on your original proposal ---suggest consulting the bank or reduce the deposit for opening the L\C ---state the reason for asking for L\C ---show regret for insisting on L\C ---suggest the buyer to reduce their order this time if they don’ accept sight L\C ---promise to deliver the switches on receiving sight L\C

Assignment Typical expressions (P19)