物流專業(yè)英語(yǔ)chapter 8-3

1、Letter of Credit 信用證信用證Letter of Credit Definition - L/C is (1) A payment undertaking given by a bank (issuing bank) 由銀行所開(kāi)具的On behalf of a buyer (applicant) 代表買(mǎi)主To pay a seller (beneficiary) for a given amount of money within specified time limits 承諾在規(guī)定時(shí)間內(nèi)向賣方支付一定金額(2) On presentation of specified do

2、cuments representing the supply of goods 需根據(jù)規(guī)定，出示規(guī)定的單據(jù) Documents to be presented at a specified place 需要在指定地點(diǎn)出示單據(jù)Documents must conform to terms and conditions set out in the letter of credit 單據(jù)還需符合信用證的條款The flow of L/C Transaction基本流程 Parties that participant in L/C arrangement Applicant 申請(qǐng)人申請(qǐng)人 The

3、 applicant is the buyer/importer who apply for issuing L/C 買(mǎi)方/進(jìn)口商Beneficiary 受益人受益人 The beneficiary/seller/exporter is entitled to receive the money, as long as he can provide the documentary evidence required by the letter of credit. 賣方/出口方Opening/issuing bank 開(kāi)證行What is the issuing banks role ? -

4、of whom the applicant is a client - The issuing banks role is to examine the documents and pay if these documents comply with the terms and conditions set out in the L/C. 為買(mǎi)方開(kāi)具信用證的銀行為買(mǎi)方開(kāi)具信用證的銀行Advising/notifying Bank 通知行An advising bank, usually a foreign correspondent bank of the issuing bank will

5、advise the beneficiary. 出口地所在的銀行The advising bank would be responsible for sending the documents to the issuing bank. Question: If the issuing bank does not pay the beneficiary, should the advising bank bear the responsibility of paying instead? Paying/drawee bank 付款銀行信用證上指定付款的銀行，在多數(shù)情況下，付款行就是開(kāi)證行。Neg

6、otiating bank 議付行A negotiating bank agrees to pay the beneficiary by purchasing a negotiable instrument (importers or buyers draft). Also called accrediting party. 根據(jù)信用證開(kāi)證行的付款保證和受益人的請(qǐng)求，按信用證規(guī)定對(duì)受益人交付的跟單匯票跟單匯票墊款或貼現(xiàn)墊款或貼現(xiàn)，并向信用證規(guī)定的付款行索償?shù)你y行. The negotiating bank is usually the beneficiarys bank .Reimbursem

7、ent Bank 償付行(Reimbursement Bank)受開(kāi)證行在信用證上的委托，代開(kāi)證行向議付行或付款行清償墊款的銀行（又稱清算行）。不償付時(shí)開(kāi)證行償付。Documents presented by an applicant Before making payment for product, the issuing bank must verify that all documents and drafts conform precisely to the terms and conditions of the letter of credit. Financial documen

8、ts: Bill of exchange Commercial documents: commercial invoice, consular invoice, packing listGovernment documents: Embassy legalization, Origin Certificate, Inspection certificateShipping documents: Bill of lading (ocean or multi-modal or Charter party), Airway bill, Lorry/truck receipt, railway rec

9、eiptInsurance documents: Insurance policy, or Certificate but not a cover note.Benefits of L/C the safest, most secure and most convenient settlement method for international transactions. 對(duì)于國(guó)際貿(mào)易，最安全和方便的支付方式。Types of L/C(1) Revocable L/C 可撤銷信用證 A revocable L/C allow for amendments, modification and

10、cancellation of the terms outlined in the L/C for any reason, at any time by the issuing bank without the consent of the exporter or beneficiary. 開(kāi)證行不必征得受益人或有關(guān)當(dāng)事人同意有權(quán)隨時(shí)撤銷的信用證 Exporter at risk Irrevocable L/C 不可撤銷信用證A irrevocable L/C requires the consent of the issuing bank, the beneficiary and the a

11、pplicant before amendments, modification and cancellation to the original terms can be made.指信用證一經(jīng)開(kāi)出，在有效期內(nèi)，未經(jīng)受益人及有關(guān)當(dāng)事人的同意，開(kāi)證行不能片面修改和撤銷 Commonly used and preferred because payment is always assured (2) Transferable L/C 可轉(zhuǎn)讓信用證with a transferable L/C, the exporter can transfer all or part of his rights

12、 to another partyQ: When a transferable L/C would be in used? A: under the situation that the exporter is not the ultimate supplier and need the credit standing 信用of a bank to buy goods from the supplier (3) Confirmed L/C and unconfirmed L/C 保兌/不保兌信用證 A confirmed L/C is when a second guarantee is ad

13、ded to the document by another bank 指開(kāi)證行開(kāi)出的信用證，由另一銀行保證對(duì)符合信用證條款規(guī)定的單據(jù)履行付款義務(wù)。對(duì)信用證加以保兌的銀行 An unconfirmed L/C is when the document bears the guarantee of the issuing bank alone 開(kāi)證行開(kāi)出的信用證沒(méi)有經(jīng)另一家銀行保兌。 (4) Sight L/C 即期信用證 Usance L/C 遠(yuǎn)期信用證 Deferred payment L/C 延期信用證(5) documentary L/C 跟單信用證 clean L/C 光票信用證 (5

14、)Back-to-back L/C 背對(duì)背信用證 Two individual L/C that together offer an alternative to a transferable letter of credit 又稱轉(zhuǎn)開(kāi)信用證 That means, if a foreign buyer will issue a L/C to an exporter, certain banks and trade finance companies will issue independent L/C to the exporters supplier so that required goods can be purchased. (6)Standby