1、Lecture 17 Terms of Payment,Objectives: After this section you will:be able to translate 3 main terms of payment and procedures. be able to write a letter of payment.,Modes of Payment L/C Remittance T/T (telegraphic transfer) M/T (mail transfer) D/D (demand draft) Collection D/P (Document Against Pa
2、yment) D/A (Document Against Acceptance),Main & Difficult Points,Payment is an important issue in international trade. No export transaction can be regarded as successful until the money has been paid for the goods delivered overseas, and the proceeds have been safely credited to the exporters accou
3、nt.In international trade, there are major modes of payment that the buyers may adopt namely letter of credit (L/C), remittance and collection.,L/C is used in cases where the exporter wishes to avoid the risk, and it involves a guarantee of the bank opening the L/C. It is the most common form of pay
4、ment in international business. A letter of credit is a document issued by a bank (issuing bank) stating its commitment to pay the seller a stated amount of money on behalf of the buyer as long as the seller meets very specific terms and conditions. Letters of credit are more formally called documen
5、tary letters of credit, and are with different types.,Payment sometimes is made by collection or remittance. These two modes of payment rely on commercial credit between sellers and buyers. Remittance means the buyer send the payment through bank or other forms to the receiver initiatively. It is di
6、vided into three forms of mail transfer (M/T), telegraphic transfer (T/T) and demand draft (D/D).,Collection 托收 uncountable the act of obtaining money that is owed to you collect, collector: a debt collection agencyRemittance 汇付countable formal an amount of money that you send to pay for something,C
7、ollection means the creditor issues the bill of exchange and entrusts the bank to collect the payment of the shipment. It has two forms of documents against payment (D/P) and documents against acceptance (D/A).,Key Words & Expressions,pay proposal amount involve figure draw accommodate L/C tie up fu
8、nd,Letter 1 Payment by D/P,Language Points,pay v. 付（款，费用）；付款；（对）注意,to pay in advance 预付 to pay by installments 分期付款 to pay on delivery 货到付款 to pay by 30 days L/C 30天期信用证付款 to pay by time L/C at 30 days,We trust you will pay our draft on presentation.,我们相信你方在见到我们的汇票时即照付。,Language Points,The price of
9、goods is payable by installments.,货款可以分期支付。,payable adj. 应付的（款项）；可付的,bills payable 应付票据 amount payable 应付金额 account payable 应付帐款 a check payable at sight 见票即付的支票,Language Points,payment n. （不可数）支付；（可数）支付的款,payment terms 支付条件；付款条件 terms of payment 支付条件；付款条件payment in advance 预付货款deferred payment 延期付款
10、cash payment 现金付款payment on deferred terms 迟期付款 monthly payments of US$3,000 每月付款3000美元 in payment of 付某种费用的款，如发票、费用、佣金等 in payment for 付某种具体实物的款，如广告、商品、样品等,Language Points,随函附上3000美元支票一张，以支付截至目前所欠你方的全部佣金。,We enclose a check for US$3,000 in payment of all commissions due to you up to date.,收到你方300美元
11、支票一纸，支付我方上个月寄给贵公司的样品。,We have received your check for US$300 in payment for the samples we sent you last month.,Language Points,We have heavy payment to make before the end of this month.,本月底我们要支付一些巨额款项。,Our payment terms are by a confirmed, irrevocable L/C payable by draft at sight.,我们的付款条件是以保兑的，不可
12、撤销的即期信用证支付。,2. propose n. transitive formal to suggest something as a plan or course of action 提议,遗憾不能接受你方改变付款方式的提议,We regret that we cannot accept your proposal for changing in payment.,Language Points,proposal n.提议,Language Points,3. amount n.v. 数额；金额；总额；（金额）合计；达到,in the amount of 金额计 to the amoun
13、t of 金额计 for the amount of 金额计 to amount to 金额达到 to come to an amount of 金额达到,In view of the small amount of this transaction, we are prepared to accept payment by D/P at sight (or at 30 days sight) for the value of the goods shipped.,我们随函附寄银行汇票一张，金额计人民币 34，980元，已扣除2%的折扣。,2) We enclose a bank draft
14、for RMB￥34,980, being the amount less 2% discount.,鉴于此笔交易的金额较小，我们准备接受以即期的 付款交单（或30天的付款交单）向你方收取货款。,Language Points,4. involve v. 涉及；包括；牵涉,发生的额外保险费将由买方负担。,The extra premium involved will be for buyers account.,此事涉及专利、设备的作价及产品销售量等一系列问题。,The matter involves a series of problems, such as patent, pricing
15、of equipment and sales volume of the product.,We dont want to involve you in any unnecessary trouble and expenses.,Language Points,我们不想给你方带来任何不必要的麻烦和费用。,航空邮寄此货，费用昂贵。,To airmail the goods would involve a lot of expenses .,Language Points,5. figure n. 数字（指价格） a particular amount of money,我们不能按照你方价格成交。
16、,We cannot do business at your figure.,The figure quoted by you is too high.,你方报价太高。,Analyzing the Letter,Paragraph One: identifying the reference Paragraph Two: accepting the proposal, giving the reasons Paragraph Three: making it clear that the concession does not apply to future transactions Para
17、graph Four: stating the wishes/hopes,Comments: This letter is brief and to the point. It tells the recipient exactly that the concession is only for this deal, and cannot set precedent for future transactions.,Chinese version of the letter 1 （付款交单）,敬启者：我方已收到1月4日关于询问使用付款交单方式付款的电子邮件。经过仔细的研究你方建议，我们同意使用
18、付款交单方式支付本单货物。但是我们认为有必要明确：在今后的交易中，只有单笔交易金额低于3，000美元时才可使用付款交单方式付款。但是我们认为有必要明确：在今后的交易中，只有单笔交易金额低于3，000美元时才可使用付款交单方式付款。如果金额超过这个数目，请使用信用证付款。谨上， 克拉克ABC有限公司,Letter 2 Order no. 897,Language Points,draw a draft on sb for an amount against sthdraw on sb at sight for an amount against sth根据向某人开出金额为的汇票to accept
19、 a draft 承兑汇票to honor a draft 承兑汇票to dishonor a draft 拒付汇票,draw 开出（汇票）,Language Points,我们遗憾地得知你方拒付了我们三十天期的汇票。,We regret that note that our 30days draft drawn on you was dishonored .,我们已根据这些单据通过亚洲银行向你方开立了发票金额的即期汇票。,We have drawn a sight draft on you against the documents for the amount of invoice thr
20、ough the Bank of Asia .,Please confirm that we can draw on you at 60days after sight for US$28,000 against your Order No. 328.,请确认我们可以就你328号订单向你方开出金额为两万八千美元的六十天远期汇票收款。,Language Points,Chinese version of the letter 2,敬启者/执事先生：兹欣然通知：你方去年12 月所订购的笔记本电脑已做好装运准备。该货将由“昆仑”号轮船在宁波港装出，预定于2月下旬到达巴生港。我们已按通常的付款条款，向
21、你方开具60天期汇票，并将汇票及装运单证交给我方银行。该汇票将在你方按惯例承兑汇票时，由花旗银行递交你方。谨上 刘萍BCD 有限公司,Chinese version of letter 3 （电汇付款）,敬启者/执事先生：关于988号合同的裙子，价值6，000人民币，以及998好合同丝质女士衬衣，价值为9，000人民币。 由于这两个合同都低于10，000人民币，如果你们能以电汇方式发货，我们将不胜感激。希望你方能在这方面给予通融，期待收到你们的肯定答复。谨上 迈克BCD 有限公司,Letter 3 Payment by T/T,Language Points,accommodate v. 通融
22、；照顾,accommodation n. 通融；照顾 accommodating adj. helpful and willing to do what someone else wants unaccommodating adj. 不肯通融的；不肯照顾的,1) 银行正在考虑给我们提供一笔三年期贷款。,The bank is considering accommodate us with a three-year loan.,Language Points,We hope you will accommodate us by allowing 5% commission.,4) 望你方能照顾允
23、许给我方佣金百分之五。,2) 作为一项特殊照顾，我们接受三十天的远期信用证。,3) 希望你方不要认为我们是不肯通融的。,As a special accommodation, we will accept time L/C at 30 days.,We sincerely hope that you will not think us unaccommodating.,Letter 4 Payment by L/C,Language Points,letter of credit 信用证,信用证的种类：,Confirmed L/C 保兑的信用证 Unconfirmed L/C 未保兑的信用证S
24、ight L/C 即期的信用证 Time L/C 远期的信用证 Revocable L/C 可撤销的信用证 Irrevocable L/C 不可撤销的信用证,Language Points,Transferable L/C 可转让的 Non-transferable L/C 不可转让 Divisible L/C 可分割的Indivisible L/C 不可分割的 Documentary L/C 跟单,Chinese version of letter 4 （信用证付款）,敬启者/执事先生：很高兴你方2007年11月24日来信。很高兴收到你方关于AE135闹钟的订单，该批货品我们有足够的库存，一
25、定会准时交货。付款方式请用保兑的、不可撤消的凭汇票付款的即期信用证。等你方信用证一到，我们就可以做装运安排。你方若有任何疑问以及需要任何帮助和信息，我方都会尽力帮助解决。谨上 克拉克ABC 有限公司,Chinese version of letter 5 （即期汇票）,敬启者/执事先生：很高兴收到你方1月5日的询盘。随信附上我们的产品目录以及价格清单。通常我们只接受保兑的、不可撤消的凭即期汇票付款的信用证。汇票要求装船日一个月之前到达我方，并且在规定的装船日起20天内在中国议付有效。而且允许转运和分批装运。希望贵方可接受我方的支付方式，并期待贵方的试订单。谨上 丹尼绿色产品进出口有限公司,Le
26、tter 6 Reply to Draft at Sight,Language Points,ties up funds 占压资金,tying up funds 占压资金 tie-up of funds 占压资金,The request for easier payment terms is compelled by their funds being tied up in numerous commitments.,由于资金被许多业务占用，他们迫不得已要求较宽容的付款条件。,Chinese version of letter 6 （即期汇票回复）,敬启者/执事先生：我们已收到你方1月8日来信
27、，希望订购你方10，000台低耗能复印机，装运期是三月。在过去的几年里，我们一直以即期信用证的方式同你方方交易，而且我们总是立即清账。这个订单的金额为2，000，000美元的大订单，资金积压3个月会给我们带来麻烦。因此，对于此订单，我们希望采用30天远期信用证付款。希望收到你方肯定回复以及你方的销售确认书。如果这次你们能帮我们一次忙，请尽早寄出你们的销售确认书以便我们立即开立信用证。 谨上 约翰阳光农产品进出口有限公司,KEY TO PRACTICE (Unit 8),Translate the following business terms and expressions 1. terms
28、 of payment 2. D/D (Demand Draft) 3. collection 4. remittance 5. D/P (document against payment) 6. D/A (document against acceptance) 7. shipping documents 8. draft 9. T/T (Telegraphic Transfer) 10. irrevocable L/C,II. Translate the following sentences into Chinese. 1.我们的支付方式是以保兑不可撤消的、凭即期汇票支付的信用证。 2.
29、因为这次交易额大，而且目前国际金融市场很不稳定，所以我们除接受信用证付款外，不能接受别的付款方式。 3.此次订货，我们建议你们使用信用证。收到信用证后，我们将把货物装上第一条可定到的船。 4.为了做成这批生意，希望双方都各让步一半。百分之五十以信用证 付款，百分之五十按付款交单怎么样？ 5.我想同你讨论一下付款条件。不知你能否接受承兑交单的方式。,6.由于我们必须坚持我们的一贯做法，我们希望你不要认为我们是不肯通融的。 7.我们已通知我方银行开立以你方为受益人的、不可撤消的、跟单信用证，其金额为一千三百美金。 8.我们已经考虑过了你方电汇的要求，并同意给予你们这个方便。 9.我们希望你们对这笔
30、交易和今后的交易接受信用证付款方式。 10.货物装运后，我们将向你方开出见票六十天内付款的汇票，请到期即付。,III. Translate the following sentences into English. 1. You no doubt know we request payment by L/C available against draft at sight. 2.The terms of payment we usually adopt are confirmed and irrevocable letter of credit. 3.As for regular orders
31、 in future, could you agree to time L/C? 4.To open a L/C will add to the cost of our imports. 5.The irrevocable L/C gives your exports the protection of a bankers guarantee. 6.L/C at sight is normal for our export to your country, so we can hardly make any exception this time.,7. It is expensive to
32、open a L/C and ties up the capital of a small company like ours. So its better for us to adopt D/P or D/A. 8.We shall open an irrevocable letter of credit in your favor, payable in Hong Kong against shipping documents. 9.We usually accept payment by irrevocable L/C payable against shipping documents
33、. 10.We agree to accept L/C available by draft at 30 days sight.,Ex IVDear Ting Men:We refer to our Order No.567 for womens blouses and sweaters. As this order totals less than $3000, we would request that you agree to ship the goods to us on D/P basis. As you know, establishing a letter of credit c
34、harges much, and we would like to keep the costs down so that we may provide our customers with a reasonable price.We hope that you will accommodate us in this respect and continue to supply us with products on the same basis.We look forward to your reply.Yours Sincerely,Yang YuanABC Co., Ltd.,Pract
35、ice Lessons,II. Make Choices：,payments should be made sight draft.,Payment by L/C is our method of trade in chemicals.,Mr.Yin could agree D/P terms.,90% of the credit amount must be paid the presentation of documents.,a) at b) upon c) by d) after,a) negotiating b) settling c) financing d) assisting,
36、a) with b) to c) in d) ever,a) at b) by c) against d) when,c,b,b,c,Practice Lessons,You dont say whether you wish the transaction to be _ cash or credit.,We shall be glad if you agree to ship the goods to us as before Cash Against Documents basis.,We have opened an L/C in your favour the amount of R
37、MB ￥20000.,If the amount exceeds that figure, payment L/C will be required.,a) at b) by c) on d) in,a) with b) during c) in d) on,a) on b) in c) by d) at,a) at b) by c) for d) in,d,b,d,b,b,Practice Lessons,From the enclosed copy of invoice you will see that price of US$1800 is well the maximum figur
38、e you stated.,We enclose a cheque for US20000 payment of all commissions due you up to date.,We make purchases our own account.,a) in b) on c) for d) with,We will draw you by our documentary draft at sight on collection basis.,a) in b) within c) between d) at,a) to b) by c) in d) at,a) at b) up c) on d) for,b,c,a,b,c,HOMEWORK,Finish add. ex. of Unit 8.Preview Unit 9,Thank you!,
