商务英语阅读-Unit-6国际支付

UnitSixInternationalPaymentObjectivesGetthestudentstobefamiliarwiththeinternationalpayment.Cultivatethestudents’abilityofproblem-solving.Helpthestudentsovercomethevocabularybarrierinreading.SectionAIntroductionIninternationalbusiness,termsofpaymenthavebeenthekeypartsinthecontractsallthetime.Itinvolveshowexporterscollectthepayfortheirgoodsintimeandguaranteesthenormalandorderlydevelopmentoftheirbusiness.Ininternationaltrade,boththeexporterandimporterfacerisksinanexport/importtransactionasthereisalwaysthepossibilitythattheotherpartymayfailtofulfillthecontract.Inordertoguardagainstsuchpossibilities,differentmethodsofpaymenthavebeendeveloped.Ascircumstancesvary,thechoiceofpaymenttermsisalsoflexible.Pre-readingBeforereadingthefollowingpassage,answerthequestion:Howcanweguardagainstthepossibilitythattheotherpartymayfailtofulfillthecontractinanexport/importtransaction?TextInternationalPaymentIngeneral,thereareseveralbasicmethodsofpaymentininternationaltrade.PaymentinAdvanceByinsistingoncashinadvancethesellerobviouslyhascompleteassuranceofobtainingpayment.Thismethodisoftenusedincaseswheretheexporterisnotfamiliarwiththebuyer’screditstanding.Cashinadvancemayalsobeappropriatewhenthepoliticalandeconomicconditionsinthebuyer’scountrymakepaymentuncertain.ThismethodplacestheburdenforfinancingthetransactionentirelyonthebuyerOpenAccountTheprocedureofthistermisrathersimple.Theexporterdispatchesthegoods;preparesallthedocuments(mainlythecommercialinvoice),andsendsboththegoodsanddocumentstothecustomer,whiletitletothegoodspassesfromsellertobuyerfromthatmoment,andthenwaitsforpayment.Thepaymentisnotmadeatthetimewhenthegoodsaredeliveredorwhenthedocumentsarepresented,butatthetimespecifiedinthecontract.Onduedate,itisuptothecustomertoarrangepayment,soitisagoodideatoarrangewitheachcustomertoremithispaymentbyCableTransfer,orTelegraphicTransfertotheexporter’sbank,quotingthebankcode,fullnameandaddressandaccountnumber.Thistermisseldomusedwherebothpartiesarenotinfairlygoodharmonywitheachother,andwheretherearestrictexchangerestrictionstocomplicatedsettlement.Thistermisusedwherethereiscompletetrustbetweenthesellerandthebuyer.DocumentaryCollectionDocumentarycollectionisameansofensuringthatthegoodsareonlyhandedovertothebuyerwhentheamountshownonadraftispaidorwhenthecustomeracceptsthedraftasacommitmenttopaybyaspecifiedtimeinthefuture.Paymentbyadraftorabillofexchangehasexperiencedmanyyearsinthehistory.Itwasthemostpopularmeansofpaymentbeforealetterofcreditwasintroduced.Thesellerthinksitadvantageousbecauseheisassuredthatthebuyerwillnotbeabletogetholdofthegoodsuntilhehaseitheracceptedatimedraftorpaidasightdraft.Ascollectionseeksnoguaranteefromthebank,thedocuments,especiallythedraft,havetheextraordinaryroleintheoperation.Adraft,alsocalledabillofexchange,isanunconditionalorderinwritingaddressedbyonepersontoanother,signedbythepersongivingit,requiringthepersontowhomitisaddressedtopayondemandoratafixedordeterminablefutureacertainsumofmoneytotheorderortothebearer.Indocumentarycollectionthebankactsontheinstructionsoftheexporterandtheexchangeofthedocumentstotitletakesplaceatthebuyer’splaceofbusiness.Oncetheexporterhasdispatchedhisgoodstothecustomer,theexportercollectstheshippingdocuments,whichgivetitletothegoods.Hedrawsabillofexchangeonthebuyer.Thismerelymeansthathefillsinabillofexchangewithalltherelevantdetailsrelatingtotheparticularshipment.Thisismadeouttobepayableeitheronsightorondemandorwithinaspecifiedtime.Theexportersendsthedraftandothershippingdocumentstotheremittingbank,whichforwardsthemtothecollectingbankinthebuyer’scountry.Ifthedraftisasightbillandmoneyisactuallypaidwhenthebillispresented,thisarrangementisknownasdocumentagainstpayment(DP).Itisknownasdocumentagainstacceptance(DA)whenthedraftisatimebillandthemoneyispaidwithinaspecifiedtime.TheexportertakesariskwhenhesellsonthebasisofDA.Thebuyermayrefusetopayoracceptthebill.Whenabillisdishonored,thebankrefusestogivethebuyerthebillofladinggivingtitletothegoods.Thebankseeksinstructionsfromtheexporteronhowitshouldact.DocumentaryCreditCashpaymentininternationaltradeisrarelyadopted;instead,non-cashpaymentiscommonlyused.Paymentbycredittransferstheimporter’sobligationofpaymenttothebank,whichensuresthattheexportercangetpaymentsafelyandpromptlywhiletheimportergetstheshippingdocumentsontime.Asweknow,abuyerandasellerlivefarapart,internationalbusinessiscarriedoutbeyondeachother’controlandmutualtrustishardtoestablish.Thesellerisunwillingtoshipthegoodswithoutreceivingpayment,whilethebuyerisreluctanttopartwithhismoneywithoutactuallycontrollingthegoods.Incasethecreditworthinessbecomesthemajorbottleneck,theproblemsofthebuyerandtheselleraresolvedbytheinterventionofathirdparty—thebank.Acontractoftenstipulatesthatpaymentismadebydocumentarycreditagreeduponbyboththebuyerandtheseller,whobothwishforthesuperiorcreditstandingofalargefinancialinstitutiontostandbetweenthem.AdocumentarycreditoftenreferredtoasLCis,inessence,aletteraddressedtotheseller,writtenandsignedbyabank,aswrittenengagementactingonbehalfofacus