國際金融課件講義

LessonVIIIIExportsFinancing:MainMethodsofPaymentLearningObjectivesRisksininternationaltradeTodescribethemethodsofpaymentforinternationaltrade;Toexplaincommontradefinancemethods;ExportFinancingWhy?Types?Resources?Thedocumentsoftitle貨物所有權(quán)BillofLadingB/L提單adocumentissuedbythecarriertotheshipperasareceiptandasacontractgoverningthetransportationanddeliveryofgoodsInsurancePolicyorCertificate保單Draftvs.Bill?Accepted,acceptance承兌LifeCycleofaTypicalBanker’sAcceptanceImporter’sBank1.PurchaseOrder2.ApplyforL/C10.SignPromissoryNotetoPay14.PayFaceValueofB/A7.ShippingDocuments&TimeDraft5.ShipGoods6.ShippingDocuments&TimeDraft11.ShippingDocumentsExporter’sBankImporterExporter4.L/CNotification9.PayDiscountedValueofB/A3.L/C8.PayDiscountedValueofB/AMoneyMarketInvestor12.B/A16.PayFaceValueofB/A13.PayDiscountedValueofB/A15.PresentB/AatMaturity1-7:PriortoB/A8-13:WhenB/Aiscreated14-16:WhenB/Amaturescreditrisktherisksofinsolvency,default,fraudbyeitherthebuyerorthesellerexchangeriskthefluctuationofexchangeratebetweentheperiodwhentheexporterdeterminethepriceequivalentinAUDquotingforthesaleandtheactualpaymentofthegoodsinvolvedtransferrisk/countryriskRisksininternationaltradeTermsofPaymentTheconditionsagreedbetweenbuyersandsellers,concerningthemethodofpaymentforthegoods.MainMethodsusedare:OpenaccountDocumentarycollectionLettersofCredit(L/C)Banker’sGuaranteeCashondeliveryPrepaymentOpenAccount賒帳

Theexportershipsthemerchandiseandexpectsthebuyertoremitpaymentaccordingtotheagreed-uponterms.Timeofpayment:AsagreeduponGoodsavailabletobuyers:BeforepaymentRisktoexporter:Reliescompletelyonbuyerto payaccountasagreeduponRisktoimporter:NoneShippingdocumentsInclude:CommercialexportinvoiceBillofladingInsurancepolicyCertificateoforiginConsularinvoiceWeightlistTheyaresentbyanexporter’sbanktothebanker’sbranchintheimporter’scountry,whodeliversthemtotheimporterwhenhepaysoracceptabillofexchange.DocumentaryCollection

跟單托收Collection:托收

inbusinessitmeansobtainingpaymentofdebtDocumentarybill:跟單匯票

abillofexchangewithdocumentsattached,suchasB/L,insurancepolicy…DocumentaryCollection

跟單托收Documentsagainst

payments（D/P）付款交單

Theseareunconditionalpromisesdrawnbytheexporterinstructingthebuyertopaythefaceamountofthedrafts.Timeofpayment:OnpresentationofdraftGoodsavailabletobuyers:AfterpaymentRisktoexporter:Ifdraftisunpaid,must

disposeofgoodsRisktoimporter:Reliesonexportertoship goodsasdescribed DocumentaryCollection

Documentsagainst

acceptanceD/A

承兌交單

Mosttransactionshandledonadraftbasisareprocessedthroughbankingchannels.Timeofpayment:OnmaturityofdraftGoodsavailabletobuyers:BeforepaymentRisktoexporter:ReliesonbuyertopaydraftsRisktoimporter:Reliesonexportertoship goodsasdescribed in documentsLettersofcredit(L/C)

信用證Theseareissuedbyabankonbehalfoftheimporterpromisingtopaytheexporteruponpresentationoftheshippingdocuments.Timeofpayment:WhenshipmentismadeGoodsavailabletobuyers:AfterpaymentRisktoexporter:VerylittleornoneRisktoimporter:Reliesonexportertoship goodsasdescribedin documentsDocumentaryCreditProcedureImporter’sBankImporterExporterCorrespondentBank1.SaleContract2.RequestforCredit3.SendCredit4.DeliverLetterofCredit5.DeliverGoods6.PresentDocuments7.PresentDocuments8.Documents&ClaimforPayment9.PaymentBankGuarantees銀行保函Aformalpromisebyabanktoacreditortopayhimasumofmoneyifthedebtordoesnotpaybyacertaindate.PrepaymentsTimeofpayment:BeforeshipmentGoodsavailabletobuyers:AfterpaymentRisktoexporter:NoneRisktoimporter:Reliescompletelyon exportertoshipgoodsas orderedAgenciesthatMotivateInternationalTradeDuetotheinherentrisksofinternationaltrade,insuranceagainstthevariousformsofriskisdesirable.TheExport-ImportBankisanagencyoftheU.S.governmentthataimstofinanceandfacilitatetheexportofU.S.goodsandservicesandmaintainthecompetitivenessofU.S.companiesinoverseasmarkets.TheEximbankoffersguarantees,loans,bankinsurance,andexportcreditinsurance.AgenciesthatMotivateInternationalTradeThePrivateExportFundingCorporation(PEFCO)isownedbyaU.S.consortiumofcommercialbanksandindustrialfirms.Itprovidesmedium-andlong-termfinancingforforeignbuyers.TheOverseasPrivateInvestmentCorporation(OPIC)isanU.S.federalagencyresponsibleforinsuringdirectU.S.investmentsinforeigncountriesagainsttherisksofcurrencyinconvertibility,expropriation,andotherpoliticalrisks.ReviewPaymentMethodsforInternationalTradeOpenAccountsLettersofCreditD/AandD/PBankguarenteesPrepaymentsReviewTradeFinanceMethodsAccountsReceivableFinancing