1、支付Chapter 7 International PaymentSection One Instruments of Payment in International TradeSection Two Modes of Payment in International TradeMain Points in Unit 7 Differences between payment instruments and payment termspayment instruments-Financial documents which can be used in different manners s
2、erving specific paying purposepayment terms-A series of activities or operations facilitating the movement of funds from one destination to the otherInternational PaymentWhat should be understood in this unit1 Instruments of Payment Currency Bills Draft Promissory Note Cheque2 Modes of Payment Remit
3、tance Collection L/C3 Payment Clause in S/CSection One Means of Payment in International Trade In international trade,the most frequently used means of payment include currencies and bills.The former is used for account,settlement and payment;the latter for settlement and payment.In practice,sellers
4、 of goods,in general,almost never insist on their rights to demand cash for payment,but readily take certain bills,such as bill of exchange(draft),promissory note and cheque(check)for substitutes,among which draft are widely used.7.1 DraftDefinitionContentsKindsUse7.1.1 Definition of Draft/Bill of E
5、xchange 汇票汇票Definition:A draft is an unconditional written order addressed by one person to another,singed by the person giving it,requiring the addressed person to pay at sight or at a fixed future time the sum of money clearly specified,to the payee or to his order.汇票汇票(Bill of Exchange)是由是由出票人出票人
6、向向受票受票人人签发旳书面无条件支付命令，要求受票签发旳书面无条件支付命令，要求受票人于见票时或指定旳某一时间或能够推定人于见票时或指定旳某一时间或能够推定旳将来某一时期，向某人或其指定人或持旳将来某一时期，向某人或其指定人或持票人支付一定金额旳货币。票人支付一定金额旳货币。The Parties to a Bill of Exchange A bill of exchange involves three parties:Drawer出票人出票人Drawee:受票人受票人/付款人付款人payerPayee受款人受款人Three parties concerned7.1.2 The conte
7、nt of a B/E(Specimen 7.1-7.4)The words of“Bill of Exchange”or“Draft”The date and place of issuance of draftA specific sum which shall be exactly the same with that indicated on export invoiceThe tenor,that is,the period of creditIf not stipulated,regarded as Sight draftThe name of the draweeThe name
8、 and signature of the drawerThe name of the payee or order or bearerThe endorsement of the payee when applicable BILL OF EXCHANGENo._For At _ sight of THIS SECOND BILL of EXCHANGE (first of the same tenor and date unpaid)pay to_or order the sum of Value received and charge the same to account of _Dr
9、awn under_L/C No._dated_To._ _ 汇票 BILL OF EXCHANGENo.汇票编号 Date:出票日期 For:汇票金额 At 付款期限 sight of this second of exchange(first of the same tenor and date unpaid)pay to the order of 受款人 the sum of Drawn under 出票条款 L/C No.Dated To.付款人 出票人签章 7.1.3 Use of a B/E Issuance 出票 The act of the drawer issuing a d
10、raft to the draweePresentation 提醒The act of the payee or the bearer presenting the draft to the payer for payment or acceptanceTwo results:being honored or dishonoredProcedure of a B/E practicePayment 付款-Draft honored by paymentFor sight draft,the payer pays to the payee a specified sum of money ind
11、icated on the draft at presentation.7.1.3 Use of a B/E Procedure of a B/E practiceAcceptance 承兑-Draft honored by acceptanceThe act of the payer making acceptance by cross-signing on the face of the bill and promising to pay on or before the expiry date of a time/usance draftAn accepted bill shall be
12、 returned to the presenting party 7.1.3 Use of a B/E Procedure of a B/E practiceDiscount 贴现An accepted draft is negotiableIf the holder wants to get money before mature date,the draft can be discounted by a discounting bank at the prevailing discount rateIt is the sale of an accepted time bill for l
13、ess than its face value before its maturity date.Endorsement 背书The act of the transferor in transferring a draft to the transferee by making a signature on the back of the draft7.1.3 Use of a B/E Procedure of a B/E practiceDishonor 拒付The refusal of the drawee or payer to make payment or acceptance o
14、f a duly presented draftHolder can recourse the drawer for paymentTo exercise his right of recourse,the bill holder needs to present a Certificate of Protest(拒付证明）from a notary public Draft with the word“without recourse”can hardly be discounted7.1.3 Use of a B/E KindsWhether documentary Dead time o
15、f payment Drawer Clean billDocumentary bill Sight bill Usance bill Commercial bill Bankers bill Exercise 1A.Read the bill of exchange below and answer questions.TWO COPIESNo.80W5069-2 Date:4th DEC.2023EXCHANGE FOR USD63,162.00At 90 DAYS sight of this FIRST OF EXCHANGE(second of the same tenor and da
16、te unpaid)pay to the order of OURSELVES the sum of _Value received Draw under LC No.314955B OF 1ST AUG.1999 ISSUED BY YOURGOODSELVESTO HORNER HENAN NATIVE PRODUCE&ANIMALTRUST CO.BY-PRODUCTS IMP.&EXP.CO.PITTSBURG _ MANAGER1.Who is the drawer/drawee?i.e.who is paying whom?2.On which day was the draft
17、drawn?3.Is the Bill in sola(one copy)or two?4.How much money is involved?5.This bill only shows the sum of money is figures.Can you write out the same amount in words?Where do you write it.6.In a bill of exchange,the places of the sender and the receiver are fixed.Where are they respectively?How lon
18、g is this bill valid?According to the bill,what is the mode of payment used?9.What do the following abbreviations stand for?USD_ No._ LC_ CO._ 7.2 Promissory Note 本票本票 A promissory note is an unconditional promise in writing made by one person to another signed by the maker,engaging to pay,on demand
19、 or at a fixed or determinable future time,a sum certain in money,or to the order,of a specified person or to bearer.The main difference between a promissory note and a draft lies in that there are three parties,namely drawer,drawee and payee involved in a draft but only two,drawer and payee in a pr
20、omissory note.The party of promissory note is the drawer himself.（P270）7.3 Cheque(Check)A check is an unconditional order in writing drawn on a banker signed by the drawer,requiring the banker to pay on demand a sum certain in money to or to the order of a specified person or to bearer.The payer of
21、a check is the drawer of the check A cheque drawn on a bank overseas cannot be readily negotiated by the exporter If the exporters bank were prepared to negotiate it for him then he would receive payment right away but at the cost of the discountFailing this the exporter would have to ask his bank to collect the cheque for him and this would be both timeconsuming and relatively expensive（P270)中国建设银行现金支票样本加拿大支票样本加拿大支票样本这是一张一般支票（记名支票）这是一张一般支票（记名支票）ExercisePlease finish the exercise in the text bookCase Study:Please read your case book
