《国际物流与经营管理》-第7章-国际贸易支付.ppt

2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.Terms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesReducedCreditInformationLackofPersonalContactDifficultandExpensiveCollectionsNoEasyLegalRecourseHigherLitigationCostsMistrust2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.RisksinInternationalTradeCountryRiskCountryriskisalsoknownaspoliticalrisk.Theprobabilityofnotgettingpaidbyacreditor,becausethecreditorscountryhas:Insufficientforeignexchangereserves.Politicalriskcanalsomeantheprobabilityofnationalizationofafirmssubsidiarybythehostcountry.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.RisksinInternationalTradeCommercialRiskTheprobabilityofnotgettingpaidbyacreditor,becausethiscreditordoesnothavethefundstopaythedebtorbecausethecreditorrefusestopaythedebt.ExposureTherelativeconsequencesofabad-debtriskforanexporter;theriskofa$50,000losswouldrepresentagreaterexposureforasmallexporterthanforalargeexporter.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.AlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollection2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.AlternativeTermsofPaymentTable7-1:AdvantagesandDisadvantagesofSeveralTermsofPaymentTermofpaymentProbabilityofLosingtheBusinessbecauseoftheChoiceofMethodofPaymentProbabilityoflossduetoNon-PaymentCashinAdvanceHighNilLetterofCreditFairly HighAlmost NilDocumentaryCollectionLowLowOpenAccountNilRelatively High2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CashinAdvanceDefinitionInaCashinAdvancetransaction,theexporterrequeststhatthecustomerprovidepaymentinadvance,beforeshipmentofthegoodscantakeplace.Itistheultimate“risk-free”alternativefortheexporter.InaCashinAdvancetransaction,theriskiscompletelytransferredtotheimporter.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CashinAdvanceApplicabilityThismethodisonlyjustifiedinrarecases.Itcouldbeusedwhentheimporterisperceivedasbeingveryhighrisk(commercialorcountryrisk).Itshouldbeavoided.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.OpenAccountDefinitionInanOpenAccounttransaction,theexporterconductsinternationalbusinessinamannersimilartothewayitconductsbusinessdomestically.Theexportershipsthegoods,accompaniedbyaninvoice,andexpectstheimportertopaywithinadefinedtimeperiod(30-60days).2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.OpenAccountApplicabilityTheexporterisconfidentthattheimporterwillpay(e.g.long-standingbusinessrelationship).TheexporteriscompetingwithcompaniesthatofferOpenAccountterms.Theexporterwantstocreategoodwill.Incaseswheretheexporterisunsureoftheimporterscredit,theexportercanusecreditinsurance.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.OpenAccountCreditInsuranceAninsurancepolicyunderwhichcommercialriskiscovered.Theinsurancecompanybearstheriskofnon-paymentbytheimporter,deductingaslightpercentageofthereceivable.Creditinsurancedoesnotcoverpoliticalrisk,unlesstheexporterhasexplicitlyaskedforadditionalpoliticalcoveragethatisobtainedthroughtheEx-ImBank.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCreditDefinitionALetterofCreditisadocumentwithwhichtheimportersbankpromisestopaytheexporteriftheimporterdoesnotpay.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCreditIssuingBankThebankprovidingtheLetterofCredittotheimporter.Thebankthatwillpaytheexporterwhenitprovidesallthenecessarydocuments,shouldtheimporterbeunabletopay.AdvisingBankThebankthatdetermineswhetherthetermsoftheLetterofCreditofferedbytheIssuingBankareappropriate.TheAdvisingBankisgenerallytheexportersregularbank.Insomecases,theexportersbankwilldelegatethisroletoanotherbankwhichismoreexperiencedininternationaltrade.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCreditApplicantThefirmaskingtheIssuingBankforaLetteraCredit.Usually,theapplicantistheimporter.BeneficiaryThefirmnamedinaLetterofCreditasthefirmtowhichtheissuingbankispromisingpaymentiftheimporterdoesnotpay.Usually,thebeneficiaryofaLetterofCreditistheexporter.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCredit(Process)IssuanceFirstStep-Negotiationbetweenexporterandimporter.SecondStep-Applicant(Importer)requeststhebanktoopenaLetterofCredit(L/C)onimportersbehalfandnamingexporterasbeneficiary.ThirdStep-IssuingBanksendsthisL/CtoAdvisingBank(ExportersBank).FourthStep-TheAdvisingBanknotifiesthebeneficiarythattheL/Cisacceptable.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCreditIssuanceofaLetterofCredit2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCredit(Process)ShipmentFifthStepTheexportershipsthemerchandisetotheimporter.Afteralldocumentsarecollected,theexportersendsthemtotheAdvisingBank,.SixthstepTheAdvisingBankchecksthedocumentsagainstthetermsoftheL/C,andsendsthemtoIssuingBankSeventhstep-Afterreceivingandcheckingthedocuments,theIssuingBanknotifiestheimporter,whousesthemtoclearCustoms.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCredit(Process)ShipmentUnderaLetterofCredit2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCredit(Process)PaymentEighthStep-ImporterpaysIssuingBank.NinthStep-IssuingBankpaysAdvisingBank.TenthStep-AdvisingBankpaysExporter.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCredit(Process)PaymentUnderaLetterofCredit2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCredit(Process)Entire(Simplified)ProcessofaLetterofCredit2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCreditALetterofCreditis:IrrevocableItcannotbealteredwithouttheexpressconsentofallpartiesinvolved.VirtuallyallLettersofCreditareirrevocable.DocumentaryThebeneficiarymustpresentacertainsetofdocuments(billoflading,invoiceandmiscellaneouscertificates)tothebank.Itispaidondocuments,notthesafearrivalofthegoods.P1852007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCreditConfirmedLetterofCreditTheexporterasksabanktoprovideanadditionallevelofpaymentsecuritytoaLetterofCredit.Iftheimporterdoesnotpay,andtheIssuingBankdoesnotpay,theConfirmingBankpays.CorrespondentBankAforeignbankwithwhichadomesticbankhasapreferredbusinessrelationship.P185-1862007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCreditUCP600Universal Customs and Practice for Documentary Credit,2007Revision,InternationalChamberofCommerce.URR725Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits.P186-1882007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.LetterofCreditApplicabilityLettersofCreditareanoutstandingmeansofmakingsurethattheexporterwillbepaid.LettersofCreditarecostly.LettersofCreditarecumbersome.P1902007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.AdditionalTypesofLettersofCreditStand-ByLettersofCreditTransferableLettersofCreditBack-to-BackLettersofCreditP1902007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.DocumentaryCollectionDefinitionItisaprocessbywhichanexporterasksabankto“safeguard”itsinterestsintheforeigncountrybynotreleasingthedocuments.ItisaccompaniedbyaBillofExchange(alsocalledaDraft).P1922007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.DocumentaryCollectionRemittingBankThebankthatinteractswiththeexporterandwiththePresentingBankintheimportingcountry.ReceivesthedocumentsfromtheexporterandthensendsthemtothePresentingBank.Ithasnoobligationtorenderjudgmentoradviceonthequalityofthepacketofdocuments;itjusttransmitsthemtothePresentingBank.PresentingBankThebankthatinteractswiththeimporteronbehalfoftheexporter.ReceivesthedocumentsfromtheexporterorfromtheRemittingBankandholdsthemuntiltheimportereithersignsadraftorpaystheexporter.FollowstheLetterofInstructionsfromtheExporter.P192-1932007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.DocumentaryCollectionSightDraftD/PTheRemittingBankisinstructedtoreleasethedocumentsonlywhentheImporterpays.Theimporterhastopay“onsight.”TimeDraftD/PD/ATheRemittingBankisinstructedtoreleasethedocumentsonlyaftertheImporterhassignedtheDraft.APromissoryNotethattheimporterhastopayin30,60,90or180daysafterthedateatwhichitsignstheDraft.Theexporterextendscredittotheimporter.P193-1942007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.DocumentaryCollectionDateDraftD/PD/ATheRemittingBankisinstructedtoreleasethedocumentsonlyaftertheImporterhassignedtheDraft.APromissoryNotethattheimporterhastopayin30,60,90or180daysafterthedateatwhichthegoodswereshipped(BOLdate).Theexporterextendscredittotheimporter.P1942007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.DocumentaryCollectionBankersAcceptanceTheRemittingBankisinstructedtosigntheDraftonbehalfoftheImporter.TheRemittingBankonlydoessoifitisconvincedthattheImporterwilleventuallypay.TheRemittingBank“avals”theDraft.Theoppositeof“TradersAcceptance.”P1952007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.DocumentaryCollectionApplicabilityAlmostassecureasaLetterofCreditifusedwithaBankersAcceptance,butaboutasexpensiveinthatcase.2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.DocumentaryCollectionProcessofADocumentaryCollection2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingToolTerms of Payment2007Thomson,apartoftheThomsonCorporation.Thomson,theStarlogo,andAtomicDogaretrademarksusedhereinunderlicense.Allrightsreserved.TermsofPaymentasaMarketingToolTheexportershouldoffertheTermofPaymentthatistheleastconstrainingfortheimporterandwhichisgenerallythebestalternative.Theexportershouldprotectitsintereststhroughmeansthatareinvisibletotheimporter(CreditInsurance).Europeancompetitorswilltendtooffer“OpenAccount”terms.