第五章
1、名词解释：
Collection（托收）：An arrangement whereby the goods are shipped and a relevant bill of exchange is drawn by seller on buyer, and/or shipping documents are forwarded to seller’s bank with clear instructions for collection through one of its correspondent bank located in the domicile of buyer.
Documentary Collection (跟单托收): the collection of financial documents
accompanied by commercial documents and commercial documents not accompanied by financial documents
Clean Collection(光票托收): the collection of financial documents not accompanied
by commercial documents.
Outward Collection and inward collection:
From the view point of remitting bankthe transaction is “outward collection” From the view point of collecting bank the deal is “inward collection”
2、流程图：
Documentary Collection(跟单托收)：
流程图（D/A、D/P）
3.简答：跟单托收对进出口商的风险与保护 Risks for exporter under documentary collection：
1. Refuse to pay or accept time draft on some small inadvertent infraction of the sales contract.
2. Demand deep cut down of price, or refuse to accept the goods.
3. A heavy storage charge, fire insurance, demurrage and great expenses and time delay if court action is taken.
Protection for exporter:Financial credit and operational style of importer.Market trend of importing country.Whether import license or foreign exchange has been approved by
relative authority. Whether political situation in importing country is steady. Whether a case
of need could be found once dishonor happens, who could help handle returned goods, e.g warehousing and insuring the goods, arranging shipment of returned goods, finding another buyer for exporter, etc.
Risks for importer under collection:1. Might be fraudulent documents.
2. Might be defective or dummy or not the model ordered by importer 3. Late shipment,and miss the optimal selling seasons 4.In advance payment , can not inspect goods beforehand. 5. Dishonor would ruin importer’s reputation. Protection for importer:
1.Investigate exporter’s reputation and deal only with creditworthy exporters.
2.If it is time payment, payment time can be XX days/months after Bill of Lading date, which means that earlier delivery,earlier payment.
3.Choose the most the favorable procedure of documents delivery basing on the credit standing, financial capability, market trend.
e.g. if price is going high, use D/P. If price is going down,use D/A
Use D/P at tenor as possible as you can to confirm if goods arrive at the harbor of your country.
第六章
1、名词解释：
Letter of Credit（信用证）：The documentary credit or letter of credit is an undertaking in
writing 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 are complied with.
Negotiate credit(议付信用证)：A negotiation credit refers to the credit under which the issuing bank authorizes other nominated banks to purchase the drafts and/or documents presented by the beneficiary. Confirmed irrevocable credit
Confirmation means a definite undertaking of confirming bank, in addition to that of the issuing bank, to honor or negotiating a complying presentation. When a confirmation is added to an irrevocable credit by another bank, the credit become a confirmed, irrevocable credit. Deferred payment credit
Under a deferred payment credit, the beneficiary does not receive payment when he presents the documents, but at a later date after B/L date or presentation of documents. Straight credit
A straight credit conveys a commitment by the issuing bank to only honor drafts or documents as presented by the beneficiary of the credit and expires at the counter of the issuing bank. Transferable credit
Under a transferable credit, the first beneficiary may transfer the credit to one or more second beneficiaries.
Red clause credit
1) Definition: an obligation on the part of an issuing bank to guarantee advance payment made by a confirming or any other nominated bank to the beneficiary prior to presentation of document.
保证向受益人预付款项，受益人不必提交单据
2）Clean payment credit & partial payment in advance credit 3）对进口商相对不利
2、信用证流程图（跟单信用证）