信用证PPT教学案例
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underlying sales contract? 4. What are the typicHale Waihona Puke Baidul documents a seller must
prepare in order to get paid? 5. Identify the 4 types of L/Cs: revocable L/C,
Terms: documentary L/C (pl. letters of credit or credits), independence rule, (some documents prepared by Seller) air waybill, marine B/L, insurance certificate, certificate of inspection, certificate of origin, (banks involved) issuing bank, advising bank, confirming bank, negotiating bank, (types of L/C) revocable L/C, irrevocable L/C, revolving L/C, red clause L/C, transferable L/C, back-to-back L/C
irrevocable L/C, advised L/C, confirmed L/C.
Terms
letter of credit (also credit, L/C; pl. credits, letters of credit) -It is defined as a conditional undertaking by a bank, issued in accordance with the instructions of the account party, addressed to or in favor of the beneficiary. The bank promises to pay, accept, or negotiate the beneficiary’s draft up to a certain sum of money, in the stated currency, within the prescribed time limit, upon the presentation of stipulated documents. In an L/C transaction, the promise of an internationally recognized bank is substituted for that of the buyer.
Typical Sentence Patterns: Contract (III)
Text I Documentary Credits
Useful expressions: pay sb. at sight, upon receipt of required documents, within the prescribed time, in regard to, follow (terms and conditions) to the letter, in order, coincide with, with full liability, mode of payment, (buyer) claim shipment from Carrier
Unit 8 Payment in International Sales
Text I Documentary Credits -To understand the definition and the operation
of letters of credit in a commercial transaction
Proper names: UCP 500
Questions based on Text I
1. What is the significance of UCP drafted by ICC? 2. How is a documentary credit defined? 3. What is the relationship of a credit to its
documentary L/C 跟单信用证
Terms
bill of exchange (AmE: draft)
-(Bills of Exchange Act 1882, UK) “an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring (ordering) the person to whom it is addressed to pay on demand or at a fixed and determinable (which can be exactly decided) future time a sum certain in money to, or to the order of, a specified (exactly described) person or bearer” It must name the person drawing it (the drawer), the person paying it (the drawee) and the person to whom it is to be paid (the payee). An international draft is an order from the seller to the buyer or buyer’s bank to pay the seller upon the delivery of goods or the presentation of shipping documents. Thus the seller is both the drawer and the payee. The drawee is either the buyer or its bank, depending on the arrangements
Text II The Doctrine of Strict Compliance -To learn the doctrine of strict compliance in
the operation of letters of credit in a commercial transaction
prepare in order to get paid? 5. Identify the 4 types of L/Cs: revocable L/C,
Terms: documentary L/C (pl. letters of credit or credits), independence rule, (some documents prepared by Seller) air waybill, marine B/L, insurance certificate, certificate of inspection, certificate of origin, (banks involved) issuing bank, advising bank, confirming bank, negotiating bank, (types of L/C) revocable L/C, irrevocable L/C, revolving L/C, red clause L/C, transferable L/C, back-to-back L/C
irrevocable L/C, advised L/C, confirmed L/C.
Terms
letter of credit (also credit, L/C; pl. credits, letters of credit) -It is defined as a conditional undertaking by a bank, issued in accordance with the instructions of the account party, addressed to or in favor of the beneficiary. The bank promises to pay, accept, or negotiate the beneficiary’s draft up to a certain sum of money, in the stated currency, within the prescribed time limit, upon the presentation of stipulated documents. In an L/C transaction, the promise of an internationally recognized bank is substituted for that of the buyer.
Typical Sentence Patterns: Contract (III)
Text I Documentary Credits
Useful expressions: pay sb. at sight, upon receipt of required documents, within the prescribed time, in regard to, follow (terms and conditions) to the letter, in order, coincide with, with full liability, mode of payment, (buyer) claim shipment from Carrier
Unit 8 Payment in International Sales
Text I Documentary Credits -To understand the definition and the operation
of letters of credit in a commercial transaction
Proper names: UCP 500
Questions based on Text I
1. What is the significance of UCP drafted by ICC? 2. How is a documentary credit defined? 3. What is the relationship of a credit to its
documentary L/C 跟单信用证
Terms
bill of exchange (AmE: draft)
-(Bills of Exchange Act 1882, UK) “an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring (ordering) the person to whom it is addressed to pay on demand or at a fixed and determinable (which can be exactly decided) future time a sum certain in money to, or to the order of, a specified (exactly described) person or bearer” It must name the person drawing it (the drawer), the person paying it (the drawee) and the person to whom it is to be paid (the payee). An international draft is an order from the seller to the buyer or buyer’s bank to pay the seller upon the delivery of goods or the presentation of shipping documents. Thus the seller is both the drawer and the payee. The drawee is either the buyer or its bank, depending on the arrangements
Text II The Doctrine of Strict Compliance -To learn the doctrine of strict compliance in
the operation of letters of credit in a commercial transaction