Chapter 7 Letter of Credit

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chapter 7 Letter of Credit

Designated by issuing bank to effect payment or acceptance; Once it has made payment to the beneficiary, it will lose the right of recourse to the beneficiary; Entitled to obtain reimbursement from the issuing bank.
Issuing bank
1 、 According to the applicant ,sets up and modifies the letter of credit. 2、Issuing bank has no right to recourse after payment. 3 、 By issuing a credit the issuing bank undertakes full responsibility for payment
7.2 Parties and Their Obligations
Advising bank
The advising bank is the deputy of the issuing bank in exporter’s country.
7.2 Parties and Their Obligations
Paying bank
7.2 Parties and Their Obligations
Accepting bank
The bank accepting the bill of exchange is the accepting bank.
7.2 Parties and Their Obligations

外贸函电与单证第7章

我们一定要注意包装好这批货物。(goods, properly, pack) Please that the L/c are in accordance with the contract. A. see to i t B. seeing C. see D. to see
accordance
The stipulations in your L/C should be in accordance with those in the contract. The quality of the goods shall be in s t r i c t accordance with that of the sample According to usual practice. Please accord this matter your immediate attention.
Some useful sentences
When do I have to open the l e t t e r of credit? 顺便问一句，您几时开立信用证呢？ When can you arrange for a credit under the new import license? 按照新的进口许可证规定，你方什么时候能开出一张信用证？ Please open l e t t e r of credit in good time. 请及时开出信用证。 We"ll open the l e t t e r of credit at s i g h t . 我们会按时开证的。 I agree to use l e t t e r of credit at s i g h t . 我同意用即期信用证付款。 Our l e t t e r of credit w i l l be opened early March. 我们在3月初开出信用证。 We"ll open the credit one month before shipment. 我们在装船前1个月开立信用证。

chapter1国际结算

Contents
• Chapter 1 International Trade and Practice • Chapter 2 Introduction to International Settlement • Chapter 3 Instruments • Chapter 4 Remittance • Chapter 5 Collection • Chapter 6 Letter of Credit • Chapter 7 Documents
• Exchange of goods and services from one country to another. • two issues----goods and services.
Is it different from domestic trade?
• International trade is in principle not different from domestic trade as the motivation and the behavior of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not. • The main difference is that international trade is typically more costly than domestic trade.
More risks
◆ ◆ ◆ ◆ ◆ ◆
信用风险(credit 信用风险(credit risk) 商业风险（商业风险（business risk) 价格风险(price 价格风险(price risk) 汇兑风险(exchange 汇兑风险(exchange risk) 运输风险(transportation 运输风险(transportation risk) 政治风险(political 政治风险(political risk)

国际贸易实务名词解释整理+部分课后题

International TradeDefinition of important terms:1. Trade bloc 贸易集团▪ An intergovernmental association of a large free trade area formed by one or more tax, tariff, and trade agreements, which manages and promotes trade activities for ▪specific region of the world.▪ Freely, or cheaply for members ▪ Barriers against non-members2. Non-tariff barrier 非关税壁垒A non-tariff barrier to import is any policy used by the government to reduce imports, other than a simple tariff on imports.3. CommodityCommodity is the article of commerce of any kind that is for sale – goods, merchandise or product.4. CIF/CFR/FOB 到岸价/ 成本+运费/ 离岸价CIF: Cost Insurance and Freight (named port of destination)CFR: Cost and Freight (named port of destination)FOB: Free On Board (named port of shipment)5. L/C见176. F.A.Q. 平均良好品质(Fair Average Quality) not particular quality specification but average quality of the current group, recent shipment.7. General average共同海损Loss or damage to a ship or its cargo that is shared among the shipowner and all the cargo owners.8. Constructive total loss（推定全损）may occur if the cargo is NOT actually lost, but is so seriously damaged as to make the goods no longer useful for the purpose for which they were originally intended.9. Neutral packing 中性包装Do not mention the name of the country producing the goods and the name of the manufacturer on the commodity and on the outer and inner packages.10. Liner 班轮The liners run fixed schedules, follow fixed routes and charge standard rates called conference rates.11. Break-even Point 收支平衡点(BEP) is the point where revenues from sales equal all costs.12. Dumping 倾销Dumping is the practice of selling products in foreign country at lower prices than those charged in the producing country13. Bill of Exchange (Draft) 汇票a written order to pay a sum of money to a particular person on a particular date. Drafts are negotiable and may be sold.14. Remittance 汇付Transfer of funds from one party to another among different countries through banks.15. D/P 付款交单Documents Against PaymentUnder D/P, the buyer can receive the shipping documents only after he has duly made the payment of the goods.16. D/A 承兑交单Documents Against AcceptanceUnder D/A, the buyer can receive the shipping documents from the collecting bank after he has duly accepted the draft.17. Letter of Credita letter from a bank that allows you to get a particular amount of money from another bank18. Collection 托收Presentation for payment of an obligation and the payment thereof19. Force Majeure 不可抗力unexpected circumstances, such as war, that can be used as an excuse when they prevent sb from doing sth that is written in a contract20. Arbitration 仲裁Arbitration is the judging of a dispute between people or groups by someone who is not involved.21. Counter-offer 还盘A counter-offer is an offer that someone makes, for example, for a house or business, in response to an offer by another person or group.22. Pro forma Invoice 形式发票A document provided prior to or with a shipment of goods (as for export) that describes the items and terms of sale but dose not have the function of a real invoice.23. Forwarder (Shipping agency) 货代A person or organization that dispatches or delivers goodsOne that forwards; especially an agent who performs services (as receiving, transshipping, or delivering) designed to move goods to their destination.Chapter5 选择A. 单选1. The term CIF should be followed by .a. point of originb. port of shipmentc. port of destinationd. port of exportation2. The term FOB should be followed by .a. point of originb. port of importationc. port of discharged. port of exportation3. The term EXW should be followed by .a. point of originb. port of shipmentc. port of importationd. port of exportation4. The term DAT should be followed by .a. point of originb. port of loadingc. port of destinationd. port of shipment5. The term FAS should be followed by .a. point of originb. port of destinationc. port of shipmentd. port of exportation6. The term CFR should be followed by .a. point of originb. port of shipmentc. port of destinationd. port of exportation7. The term DDP should be followed by .a. point of originb. port of shipmentc. port of premised. place of destination8. The term DAP should be followed by .a. point of originb. place of importationc. port of exportationd. port of shipment9. The term FCA should be followed by .a. seller's railway stationb. point of originc. seller's place of shipmentd. buyer's railway stationB. 多选Which of the following are included in the quoted price?1. The quoted price for 3 red zoom roadsters is US $ 6,000 Ex-works, Beijing.a. 3 red zoom roadstersb. freight to dockc. loading chargesd. ocean freightere. marine insurancef. unloading2. The quoted price for 12 “Butterfly” sewing machines is US $ 700 FAS, Dalian.a. 12 “Butterfly” sewing machinesb. freight to dockc. loading chargesd. ocean freighte. marine insurancef. unloading3. The quoted price for 1,000 “Panda” radios is US $10,000 CFR, Tianjin.a.1,000 “Panda” radiosb. freight to dockc. loading chargesd. ocean freighte. marine insurancef. unloading4. The quoted price for 100 pairs of shoes is US $3,000 FOB, Shanghai.a.100 pairs of shoesb. freight to dockc. loadingd. unloadinge. import duties5. The quoted price for 1 tractor is $ 5,000 CIF, Hong Kong.a.1 tractorb. transportation to dockc. loadingd. export chargese. ocean freightf. marine insuranceg. unloadingh. import dutiesChapter 6（B）mineral ore A. sample（C）ordinary garments B. manual（D）fish C. F.A.Q（E）Haier washing machines D. G.M.Q（G）medical apparatus E. famous brand（A）wheat F. specification（H）calligraphic works G. inspection（F）power plant generator H. drawing or diagramChapter 7 判断1. Under FOB, the seller must give the buyer prompt shipping advice as the goods are shipped on board the vessel.2. Demurrage is the extra charges a shipper pays for detaining a freight car or ship beyond time permitted for loading or unloading.3. Dispatch money is a fine imposed on the charter for the delay in the loading and unloading of the goods.4. Unclean B/L can be negotiated and accepted by the buyer and bank.5. A bill of lading is both a receipt for merchandise and a contract to deliver it as freight.6. Order B/L can be transferred with or without endorsement.Chapter 8判断1. In ocean marine insurance, the assured can recover more than actual loss provided that he can provide evidence of further losses contingent on the actual loss.2. In ocean marine insurance, general average is to be borne by the carrier, who may, upon presentation of evidence of the loss,' recover the loss from the insurance underwriter.3. Partial loss or damage is never recoverable with FPA.4. Special additional coverages such as war risk, strikes and so on must be taken out together with FPA and WPA.5. In essence, open policy is the same as the insurance certificate.6. Ocean marine insurance covers ships and their cargo only on the high seas and not on inland waterways.7. Without insurance, international trade is simply impossible to take place.8. Three types of risks are covered by ocean marine insurance, namely the perils of sea, the extraneous risks and the force majeure.9. Ocean marine insurance covers two types of losses, partial loss and total loss.Chapter 10Suppose a contract for the amount of US $ 845, 000 was approved for buyer' s credit up to 80% of the said amount. After disbursement, Bank of China, Head Office, Beijing would issue apromissory note on July 2, 2003 specifying that it is payable at 3 years after the above stated date to the order of Bank of Oslo, Oslo, Norway the sum of 80% of US $ 845, 000 (refundment of loan). Please make a promissory note by filling in the blanks of the following form.Promissory NoteIssued in Beijing the 2nd day of July, 2003On the 2nd day of July, 2006 fixed.We promise to pay against this Promissory Note to the order of Bank of Oslo，Norway the sum of USD 676000 (say Six Hundred and Seventy Six Thousand only). Payable in Oslo,Norway.For Bank of ChinaSignatureChapter 11ExampleEnquiry: 询盘Oct. 08th, 2015 (Enquiry)Dear Sir/Madam, we're interested in TV set model XXX. Please send us a firm offer at a favarable price.Offer: 发盘Oct 10th, 2015 (Firm Offer)Thanks for your inquiry dated Oct. 8th. We offer subject to your reply reaching us by Oct. 20th as follows: TV set model XXX, 1000 sets, packed in export cartons of one set each, shipped in 1X20' container, USD150 per set CFR Karachi, shipment before Dec. 31, 2015, Payment by Irrevocable Sight Credit.Counter-offer: 还盘Oct 13th, 2015 (Counter-offer)Referring to your e-mail of Oct. 10th, we regret to note that the price you offered is too high. We counter-offer USD130 per set CFR Karachi.Oct 16th, 2015 (Counter-offer of counter-offer)Your e-mail of 13th to hand. The best we can do is USD140 subject to your reply to us Oct. 22nd.Acceptance:Oct 16th, 2015 (Counter-offer of counter-offer)Your e-mail of 13th to hand. The best we can do is USD140 subject to your reply to us Oct. 22nd.。

7.Credit and collection__ Letters

3. assurance:
Any information you may give us will be treated strictly in confidence. will be treated as strictly confidential. [1] and expenses accruing from this inquiry will be gladly paid by us upon receipt of your bill. [2] we assure you of our reciprocating your courtesy at any time.
1. the name & the reason
The subject company is now offering to represent us in the sale of our Sewing Machines, and has referred us to your Bank for detailed information about its credit standing, business capacity and character. The under-mentioned firm has lately approached us, asking if they could represent us in the marketing of "Seven Star" Electric and Electronic products in the Republic of Ghana as our sub-agents. We have received a sudden bid from Freeman Brothers Company, London, with which you are now doing business and the firm gives us your name as a reference.

Unit 7 payment by letter of credit1

3.
4. Description of the documents for payment：
merchandise documents of invoice: packing list装箱单 , weight certificate重量单 , place of origin起始地址 , quality certificate, etc. --shipping documents ( bill of lading提货单 ) --insurance policy or certificate保险单（或凭证） 5. Any special requirements 6. Clauses covering the responsibility of payment by the issuing bank in favor of the beneficiary
3. Do a series of reading, listening, speaking and writing activities related to the theme of the unit; 4. Complete all the relative exercises in this unit.
Documents business. It deals with documents but not goods, service or other business related performance.
②
③
2. Parties relating to L/C
• The parties involved in a letter of credit transaction include: applicant(申请人 ), opening bank, advising bank(通知行 ), beneficiary(受益人 ), negotiation bank(议付银行 ), paying bank(付款行 ) and confirming bank(

国际结算英文版课后练习答案

国际结算英⽂版课后练习答案Chapter One1. Fill in the blanks to complete each sentence.(1) local legal system, political, exchange risks(2) open account, advance payment, remittance and collection(3) letter of credit, bank guarantee(4) price terms, delivery terms(5) least/minimum, most/maximum(6) advance payment(7) open account(8) clean collection, documentary collection2. 略3. Translate the following terms into English.(1) settlement on bank credit(2) the potential for currency fluctuation(3) to clear the goods for export(4) to pay the insurance premium(5) to carry out export formalities(6) the major participants in international trade(7) the commodity inspection clause(8) to fulfill the obligation to deliver the goods(9)t he goods have passed over the ship’s rail(10)I nternational contract is concluded in a completely different context than domestic ones 4．Decide whether the following statements are true or false.(1) F (2) F (3) T (4) T (5) T(6) T (7) F (8) T (9) T (10) F5. Choose the best answer to each of the following statements(1)-(5) BCCBD (6)-(10) DACCC(11)-(15) BDDCD (16)-(20) DCACDChapter Two1. Fill in the blanks to complete each sentence.(1) barter(2) medium of exchange(3) expensive, risky(4) our(5) Vostro(6) vostro(7) nostro(8) specimen of authorized signatures, telegraphic test keys, terms and conditions, Swift authentic keys2. Define the following terms(1) Correspondent relationship 〖A bank having direct connection or friendly service relations with another bank.〗(2) International settlements〖International settlements are financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle accounts, debts, claims, etc. emerged in the course of political, economic or cultural contracts among them. 〗(3) Visible trade〖The exchange of goods and commodities between the buyer and the seller across borders.〗(4) Financial transaction〖International financial transaction covers foreign exchange market transactions, government supported export credits, syndicated loans, international bond issues, etc.〗(5). Vostro account〖Vostro account is an account held by a bank on behalf of a correspondent bank.〗3. Translate the following terms into English.(1) commercial credit(2) control documents(3) account relationship(4) cash settlement(5) financial intermediary(6) credit advice(7) agency arrangement(8) credit balance(9)reimbursement method(10) test key/code4．Decide whether the following statements are true or false.(1) T (2) F (3) F (4) T (5) F5. Choose the best answer to each of the following statements(1)-(5) BCDAD (6)-(10) BBDABChapter Three1. Define the following Terms:(1) Negotiable instrument〖“A negotiable instrument is a chose in action, the full and legal title to which is transferable by delivery of the instrument (po ssibly with the transferor’s endorsement) with the result that complete ownership of the instrument and all the property it represents passes free from equities to the transferee, providing the latter takes the instrument in good faith and for value.” 〗(2) Bill of exchange〖A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time,a sum certain in money, to or to the order of a specified person, or to bearer. 〗(3) Check〖A check is an unconditional order in writing addressed by the customer to a bank signed by that customer authorizing the bank to pay on demand a specified sum of money to or to the order of a named person or to bearer. 〗(4) Documentary bill〖It is a bill with shipping documents attached thereto. 〗(5) Crossing〖A crossing is in effect an instruction to the paying bank from the drawer or holder to pay the fund to a bank only. 〗2. Translate the following terms into English.(1) ⼀般划线⽀票〖generally crossed check〗(2) 特殊划线⽀票〖specially crossed check〗(3) 过期⽀票〖a check that is out of date〗(4) 未到期⽀票〖post dated check〗(5) ⼤⼩写⾦额〖amount in words〗(6) ⽩背书〖blank endorsement〗(7) 特别背书〖special endorsement〗(8) 限制性背书〖restrictive endorsement〗(9) 跟单汇票〖documentary bill〗(10) 即期汇票〖sight draft〗(11) 远期汇票〖usance/term bill〗(12) 承兑汇票〖acceptance bill〗(13) 可确定的未来某⼀天〖determinable future date〗(14) 光票〖clean bill〗(15) 流通票据〖negotiable instrument〗(16) 贴现⾏〖discounting house 〗(17) 商⼈银⾏〖merchant bank〗(18) ⽆条件的付款承诺〖unconditional promise of payment〗(19) 负连带责任〖jointly and severally responsible〗(20) 出票后90天付款〖payable 90 days after date〗3. Decide whether the following statements are true or false.(1) T (2) F (3) T (4) T (5) T(6) F (7) T (8) T (9) T (10) T(11) F (12) T (13) T (14) F (15) T(16) T (17) T (18) F (19) F (20) F4. Choose the best answer to each of the following statements(1)-(5) CACBC (6)-(10) BACBB(11)-(15) BDCCC (16)-(20) BBAAC5-7 略Chapter Four1. Fill in the blanks to complete each sentence.(1) beneficiary(2) payment order / mail advice / debit advice(3) the remittance amount is large / the transfer of funds is subject to a time limit / test key(4) sell it to his own bank for crediting his account(5) debits / credits(6) demand draft(7) act of dishonor(8) swiftness / reliability / safety / inexpensiveness(9) debiting remitting bank’s nostro account(10) delivery of the goods2. Define the following Terms.(1) International remittance means a client (payer) asks his bank to send a sum of money to a beneficiary abroad by one of the transfer methods at his option while the beneficiary can be paid at the designated bank which is either the re mitting bank’s overseas branch or its correspondent with a nostro account.(2) Remitting bank is the bank transferring funds at the request of a remitter to its correspondent or its branch in another country and instructing the latter to pay a certain amount of money to a beneficiary.(3) A mail transfer is to transfer funds by means of a payment order or a mail advice, or sometimes a debit advice issued by a remitting bank, at the request of the remitter.(4) Demand draft transfer is a remittance method using a bank demand draft. It is a negotiable instrument drawn by one bank on its overseas branch or its correspondent abroad ordering the latter to pay on demand the stated amount to the holder of the draft.(5) Cancellation of the reimbursement under mail transfer or telegraphic transfer is usually done before its payment is made at the request of the remitter or the payee who refuses to receive the payment.3. Translate the following terms into English.(1) 汇款通知单remittance advice (2) 汇出汇款outward remittance(3) 国际汇款单international money order (4) 往来账户current account(5) ⾃动⽀付系统automated payment system (6) 作为偿付in cover(7) 赔偿保证书letter of indemnity (8) 信汇通知书 mail advice(9) 汇票的不可流通副本non-negotiable copy of draft (10) ⾸期付款down payment4. Choose the best answer to each of the following statements(1)-(5) BCABD (6)-(10) BBBAAChapter Five1. Fill in the blanks to complete each sentence.(1) presenting bank(2) title documents / pays the draft / accepts the obligation to do so(3) legal / the exchange control authorities(4) the payment is made(5) open account / advance payment(6) Inward collection(7). the remitting bank(8) trust receipt(9) D/P at sight(10) documents, draft, and collection order2. Define the following terms(1) Collection is an arrangement whereby the goods are shipped and a relevant bill of exchange is drawn by the seller on the buyer, and/or shipping documents are forwarded to the seller’s bank with clear instructions for collection through one of its correspondent banks located in the domicile of the buyer.(2) The case of need is the representative appointed by the principal to act as case of need in the event of non-acceptance and/or non-payment, whose power should be clearly and fully stated in the collection.(3) Documentary collection is a collection of financial instruments being accompanied by commercial documents or collection of commercial documents without being accompanied by financial instruments, that is, commercial documents without a bill of exchange. Alternatively, the documentary collection is a payment mechanism that allows the exporters to retain ownership of the goods until they receive payment or are reasonably certain that they will receive it.(4) Outward collection is a banking business in which a bank acting as the remitting bank sends the draft drawn against an export with or without shipping documents attached, to an appropriate overseas bank, namely, the collecting bank to get the payment or acceptance from the importer.(5) Collection bill purchased is a kind of financing by banks for exporters under documentary collection methods. It means that the remitting bank purchases the documentary bill drawn by the exporter on the importer. It involves great risk for the remitting bank due to lack of a guarantee.3. Translate the following terms into English.(1) 承兑交单acceptance against documents (2) 商业承兑汇票 trade acceptance(3) 需要时的代理⼈case of need (4) 出⼝押汇export bill purchased(5) 物权单据 title document (6) 以寄售⽅式on consignment(7) 直接托收direct collection (8) 货运单据shipping documents(9) 付款交单documents against payment (10) 远期汇票time/ tenor/term/ usance draft4. Choose the best answer to each of the following statements(1)-(5) ABCAB (6)-(10) ACAADChapter Six1. Define the following terms:(1) Letter of credit 〖The Documentary Credit or letter of credit is an undertaking issued by a bank for the account of the buyer (the applicant) or for its own account, to pay the beneficiary the value of the draft and/or documents provided that the terms and conditions of the documentary credit are complied with. 〗(2) Confirmed letter of credit 〖A credit that carries the commitment to pay by both the issuing bank and the advising bank. 〗(3) Revolving credit 〖A credit by which, under the terms and conditions thereof, the amount is renewed or reinstated without specific amendments to the documentary credit being required. 〗(4) Confirming bank 〖A bank, usually the advising bank, which adds its undertaking to those of the issuing bank and assumes liability under the credit.〗(5) Applicant of the credit〖The applicant is always an importer or a buyer, who fills out and signs an application form, requesting the bank to issue a credit in favor of an exporter or a seller abroad.〗2. Translate the following terms or sentences into English.(1) 未授权保兑〖silent confirmation 〗(2) 有效地点为开证⾏所在地的柜台〖to expire at the counters of the issuing bank 〗(3) 凭代表物权的单据付款〖to pay against documents representing the goods〗(4) 信⽤证以银⾏信⽤代替了商业信⽤。

Chapter-09--Letters-of-Credit

Dear Sirs, We enclose an application form for documentary credit and shall be glad if you will arrange to open for our account with your office in London an irrevocable letter of credit for $...in favour of the Urban Trading Company, the credit to be valid until Nov.30. The credit which evidences shipment of 2000 tons of Steels may be used against presentation of the following documents: Bills of Lading in triplicate, one copy each of Commercial Invoice, Packing List, Certificate of Insurance and Certificate of Origin. The company may draw on your London office at 60 d/s for each shipment. Yours faithfully
➢ Kinds of L/Cs
▪ sight L/C ▪ term L/C =time L/C =usance L/C ▪ revocable L/C -- irrevocable L/C ▪ confirmed L/C -- unconfirmed L/C ▪ transferable L/C -- non-transferable L/C ▪ revolving L/C -- non-revolving L/C ▪ divisible L/C -- indivisible L/C ▪ clean L/C -- documentary L/C ▪ L/C without recourse -- L/C with recourse ▪ back to back L/C (reciprocal L/C )

Chapter1BusinessNegotiation商务谈判

Chapter 1 Business Negotiation
1.Some Basic Concepts of Negotiation
(1)The Concept of Negotiation A negotiation is a process of communication between parties
• 2.The Forms of Business Negotiation
Chapter 1 Business Negotiation
3.The Overall Framework of International Business Negotiation
Background Atmosphere Factors
1)the best target; 2)the intermediate target; 3)the acceptable target.
Chapter 1 Business Negotiation
• 5.Basic Rules of International Business Negotiation
• 1.Some Basic Conceots of Negotiation • 2.The Forms of Business Negotiation • 3.The Overall Framework of International Business
Negotiation • 4.Features of International Business Negotiation • 5.Basic Rules of International Business Negotiation • 6.The General Producer of International Negotiation • munication Skills for Negotiations • 8.Types of Negotiation Styles • 9.The Business Contract

外贸英语Chapter 7 Letter of Credit

1 SiGtueantieornaall ITnatsrkoduction
The operation of L/C usually goes through the following steps, namely, establishment, amendment, and settlement. The following are three diagrams to illustrate this procedure.
UCP600
Rules for the operation of L/C are stipulated in UCP (Uniform Customs and Practices For Documentary Credits 《跟单信用证统一惯例》). UCP has already been updated to UCP600 in 2007. Compared to UCP500 (1993 revision), UCP600 is more applicable. For example: UCP600 cancels some unpractical articles such as revocable L/C; it shortens the time for banks to check the L/C from 7 days to 5 days; it also adds two choices for banks to handle documents with discrepancies in order to protect the interest of beneficiaries.
1 SiGtueantieornaall ITnatsrkoduction

国际商务函电：Chapter 7

Please send us your Sales Confirmation in triplicate. Your cooperation will be highly appreciated.
Yours faithfully,
Letter 7-2
Dear Miss Jenkins,
Thank you for your letter of 16th August with which you enclosed your catalogues and price-
Looking forward to your early reply.
Your sincerely,
Letter 7-3
Dear Sirs,
We refer to our letter of enquiry of January 5. We have received your Proforma Invoice No.0368-01 and now wish to place an initial order (Order No. 813-J77) for 1 500 tapes Type No.EM008.
Our usual terms of payment are cash against documents and we hope they will be acceptable to you. If you wish to make inquires concerning our financial status, you may refer to our bank: the Chartered Bank, London.
as acceptance or refusal.
4. Reply to an Order Letter (2)

chapter9-letter-of-credit

Step 7
The negotiating bank forwards documents to the issuing bank, claiming reimbursement as agreed between the two banks. The issuing bank examines the documents and make reimbursement.
Explanation of the Letter
➢ As the desktop personal computers against Order No. 1234 have been ready for shipment for some time, we should request you to take immediate action to have the L/C established.
开证行 Issuing bank
It is the bank that issues the letter of credit on behalf of the applicant.
It takes full responsibility for payment if the exporter presents the correct documents.
Unit Nine
Letter of credit
• WHY ?
• WHAT ? • WHOM ?
1.Why do we choose L/C?
2.What is L/C ?
3.Whom are involved in L/C?
1.Why do we choose L/C?
BANK
EXPORTER

外贸英语函电(第三版)课件 Chapter 8 Letter of Credit

Letter 1 Urging establishment of an L/C
➢ Language Points
1. refer to 查看；提及；提交 1) 有争议的问题须提交仲裁人处理。 The matter of difference shall be referred to arbitrators.
为避免随后的修证，请务必做到信用证的条款与合同条款完全一致。
期待佳音。谨上，
➢ Sample Letters
Letter 2 Advising of the establishment of an L/C
➢ Language Points
1. draw one’s attention to 请…注意；提请…注意 Similar Expressions
Be able to write letters of amendment to the L/C
Chapter Seven Letters of Credit
➢ Main & Difficult Points
▪ Basic contents of an L/C ▪ All parties concerned ▪ The kinds of L/Cs ▪ Urging Establishment of an L/C ▪ Advising the establishment of an L/C ▪ Asking for extension of the L/C ▪ Asking for amendment to the L/C ▪ How to check up an L/C
4) 你方关于真丝女衫的询价已转交我方处理。 Your enquiry for silk blouses has been referred to us for attention.

letter of credit

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EXPORT-IMPORT PROCEDURE
5. If credit terms and conditions conform to sales contract, Seller prepares goods and documentation, and arranges delivery of goods to carrier.
Useful Expressions Translating
Letter Writing
Information Related
1
2
Parties involved in L/C
Categories of L/C
3
Basic Procedure
Parties involved in L/C
1. 开证申请人 Applicant/buyer/importer/ opener 2. 受益人 Beneficiary (seller/exporter) 3. 开证行 Issuing bank/opening bank 4. 通知行 Notifying/Advising/seller’s bank
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EXPORT-IMPORT PROCEDURE
7. Bank examines the documents and draft for compliance with credit terms. If complied with, bank will negotiate. 8. Bank sends the documents and draft to the issuing bank.
We are sorry to inform you that the listed terms of payment do not correspond to our customary business practice.

《商务英语》重点章节整理含答案

重点章节：第2·3·4·6·7·9章Chapter 2Business Negotiation and Establishment of Contract1.we have received your enquiry of 15 October__C__you show great interest in our electric heaters.A.Which ;B.at which;C.in which;D.from Which.2.____C___will be highly appreciated if you will send us a brochure.A.We;B.You;C.It;D.Which3.We are pleased to tell you that the price we quoted is our___D__price.A. easiest;B. new ;C. Cheap;D.rock bottom;4. Should your price ___D___reasonable,we will place an order with you______the item.A.is… for ;B.is..from;C.be….for;D.be…with5.__D___, we airmailing you our latest quotation sheet for your consideration.A. As request;B. At request;C.At requested;D.As requested.6.Marketing is __B___,we have received a crowd of enquires from our customers.A. decliningB. advancingC. weakD. going7.Our offer will remain __D___ August 31,that is, two weeks from today.A. valid for;B. expire;C. expiration;D. valid till8.As soon as we have studied your catalog, we shall __C___you by fax;A. contact with ;B. be contacted with;C. contact;D. contact to9.we would make you the following offer subject to your reply__A___us not later than November25.A.reaching;B.arriving;C.to reach;D.to arrive.10.Business is impossible as your price is__A___ the prevailing market level.A. out of line with;B. out of line;C. in line with;D.in line ofChapter 3Trade Terms1.The quoted price for 3 red zoom roadsters is €300,000 Ex-works, Wuhan( )AA.3 red zoom roadstersB.marine insurance;C. Unloading;D. loading charges ;E. Ocean freight;F. Freight to dock.2. The quoted price for 1 limousine (luxury car) is USD 450,000CIF,Qingdao( ) ABCEFA. transportation to dock;B. loading;C. 1 limousine;D. export freight;E. Ocean freight;F. Marine insurance;G. Unloading ;H. Import duties.3.The quoted price for 15 Panda Color TV sets is USD88,000FAS,Shanghai.ABA. freight to dock;B. 15 Panda Color;C. Loading charges;D. Ocean freight;E. Marine insurance;F. Unloading4. The quoted price for 1,000 pieces of T-shirt is USD6,000,000FOB, Hongkong ( )ABCA. Loading;B.1,000 pieces of T-shirt;C. Freight to dock;D. unloading;E. Import duties.5.The quoted price for 2,000“ Great Wall” radi os is USD 26,000 CFR, Dalian( )ABCDA.2000 Great Wall radios;B. Freight to dock;C. Loading charges;D. Ocean freight;E. Marine Insurance;F. UnloadingChapter 4 Bills of Exchange1. Which is a negotiable document among the four in the following?BA. Commercial invoice;B. Bill of exchangeC. Packing list;D. Consular invoice2. How will a bank honor a sight draft: AA. pay the beneficiary at once;B. accept the draft for payment at a future time;C. discount the draft;D. accept and return the draft to the seller3. There are three parties to a draft. Which one is not included? DA. drawer;B. drawee ;C. payee ;D. bank4. The one who pays or accepts the draft is __B____A. drawer;B. drawee ;C. payee ;D. bank5.How will a bank honor a sight draft?_A__A.pay the beneficiary at once;B.accept the draft for payment at a future time;C.discount the draft;D.return the draft to the sellerChapter 6 Collection1. seeks__B__from the bank.A. GDocumentary collection uarantee;B. No guarantee; C . No protection; D. Insurance2. Documentary credit seeks__A___ from the bank.A. Guarantee;B. No guarantee; C . No protection; D. Insurance3.The most important documents in documentary collection is _C___A. Commercial invoice;B. Certificate of origin;C. shipping documents;D.Certificate of inspection.4.We look forward to __A___ a trial orderA.receivingB.receive from youC.reachedD.arrived5.We have made__B__that we would accept D/P terms for your future orders.A.clear;B.it clearC. that clearD. it is clearChapter 7 Letter of Credit(1)__A__your letter of March 5, we are pleased to inform you that the L/C has been received.A. In reply to ;B. Replying for ;C. Replied toD. Replied for(2) Please make sure that the stipulations in the L/C __A__in exact accordance with the terms of the Sales Contract.A.AreB. is ;C. will be .D. to be(3) We wish to call your attention to the __B___in the L/C, since there is no possibility of L/C extension.A.Variety ;B. validity;C. Possibility;D. Probability(4) Not until this morning __B____your delayed letter of credit.A.We received;B.did we receive;C.we have received;D.had we received(5) Please open your L/C immediately to facilitate ___A___A.Our shipping arrangement;B.for shipment;C.to arrange shipment; to arrange shipment.听力二A: The contract is ready. Will you p1ease check out the particulars and see if everything is in order?B: Well, everything is all right. There's only one thing I would like to point out that is timely delivery. You know our customers are in urgent need of the goods.A: If you fail to deliver the goods at the time stipulated in the contract, they may turn elsewhere for substitution. In that case, we just can't stand the loss.B: You are assured that the shipment will be duly delivered; we must have your L/C at least one month before the time of shipment.A: Certainly. When I get back, I'll open an L/C for the whole quantity as soon as possible.B: Good. Another thing , the stipulations in the relevant credit should strictly confirm to the terms stated in the contract in order to avoid subsequent amendment. H that does happen, shipment will possibly be delayed.A: All right. I'll see to it.B: Any other question?A: No, nothing more.B: Shall we sign the contract now?A: With pleasure.B: Now, please countersign it. You may keep one original and two copies for yourself.A: Thank you.B: I'm glad our negotiation has come to a successful conclusion. I hope this mark the beginning of long and stable business relations between us.A: I hope so, too听力4A: Mr. Yang , your price for color TV sets is too high.B: Well, Mr. Smith, I don't think so, because we offered you CIF Washing-ton.A: Your price is not competitive at all , compared with that in the international market.B: You know, our prices mainly depend on the size of your order. Could you tell me how much you want to order?A: Five thousand.B: We'll give you a 10 percent discount.A: It's too low a rate compared with those we get from other suppliers, I'm afraid.B: What's your counter-offer then?A: To have this business concluded, you need to lower your price at least by 20 percent, I believe. B: Then, we meet half away. What a-bout 15 percent?A: Good. Let's call it a deal.W: Ah, Gareth, do sit down.M: Thank you.。