International Payment



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Intpayment 46141

    Bu sahifa navigatsiya:
  • Draft

International Payment

  • Presentation Outline
  • Cash Advance
  • Letters of Credit (L/C)
  • Documentary Collections
  • Open Account

Trade Statistics

  • According to U.S. Department of Commerce (October, 1999), U.S. exports to Taiwan amounted to U.S.$ 10.466 billion from January to July of this year, while during the same period only U.S.$ 7.466 billion worth of American products were sold to mainland China.
  • The United States exported 1.4 times more goods to Taiwan than to the mainland. Mainland China is, however, 265 times the geographical size of Taiwan with a population 58 times larger.
  • Cash in Advance
  • Buyer pays before shipment
  • Used in new relationship
  • Transactions are small and buyer has no choice
  • Maximum security to sellers
  • No guarantee that goods are shipped

Draft:

  • Draft:
  • A bill of exchange-- an unconditional promise drawn by party (exporter), instructing the importer (buyer) to pay the face amount of the draft upon presentation
  • Letters of Credit
  • What is L/C?
    • A document issued by a bank stating its commitment to pay someone (seller or exporter) a stated amount provided the seller or exporter meets specific terms and conditions
  • also called the documentary letters of credit
  • Most common payment method in international trade
  • International Methods of Payment: Advantages and Disadvantages
  • Methods of Payment
  • Risk Protection
  • Buyer
  • Max
  • Min
  • Min
  • Max
  • Con-
  • firmed
  • Uncon-
  • firmed
  • Sight
  • Draft
  • Time
  • Draft
  • Cash in
  • Advance
  • Letter of
  • Credit
  • Documentary
  • Collection
  • Open
  • Account
  • Seller
  • Steps in Obtaining L/C
  • Buyer and seller agree on the terms of a sale, seller requests buyer to arrange for his bank to open a L/C
  • The buyer’s bank (issuing bank) prepares a L/C
  • The buyer’s bank then sends the L/C to its corresponding bank (buyer’s bank), which is called the advising bank
  • The advising bank forwards the L/C to the buyer for approval-- terms can be amended
  • After final terms (agreed), goods shipped

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