国际贸易实务英语刘法公H新版9.docx

国际贸易实务英语刘法公H新版9.docx

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国际贸易实务英语刘法公H新版9

UnitNine

ExportPayment

Ininternationaltradepractice,thebuyerisobligedtopaythesellertheagreedamount,intheagreedcurrency,withintheagreedperiodoftimeandbytheagreedmethodofpayment.Therefore,itisofessentialimportancetodefineinawrittencontractthevarioustermsforpayment.

9.1

TheAmountofPayment

Generallyspeaking,theactualamountofpaymentiswhatisgiveninthewrittencontract.Butsometimestheyaredifferent.Fortheactualpaymentofthegoodsmaybeadjustedinaccordancewiththemoreorlessclause,thepriceadjustmentclause,ortheexchangeclause.Also,somecontractsmaystipulatethatadditionalchargesorexpenses,suchastheoptionalportchargesandportcongestionchargesunderCFRorCIF,additionalexpensesforspecialpackingupontherequestofthebuyer,etc.,shouldnotgenerallybeincludedinthepriceofthegoodsandshouldbepaidbythebuyerseparately.Itisthegeneralpracticethattheactualpaymentwillbeeffectedagainstthefullinvoicevalueofthegoodsandthereceiptsofthesellerwhohaspaidtheadditionalchargesorexpenses.

9.2

PaymentCurrency

Paymentcurrencyisanimportantpartofasalescontract.Usuallythereisquitealongtimebetweentheconclusionofasalescontractandsettlementofthepayment.Duringthistime,thepaymentcurrencymaydepreciateorappreciateintheinternationalfinancialmarket,sometimestoquiteagreatdegree.Sotheexporterneedconsidertheexchangeriskswhiledeterminingwhatcurrencyistobeusedforthepaymentoftheconsignment.Usuallythepaymentcurrencyistheevaluationcurrency,butundermanycases,thepaymentcurrencyissomeothercurrency.

Ininternationaltrade,thepaymentcurrencyshouldfirstofallbeconvertiblecurrency.Topreventexchangerisks,theexportercanadoptseveralwaysindeterminingtheevaluationcurrencyandthepaymentcurrency.

1）Inexportbusiness,theexportergenerallytriestohavehardcurrencyastheevaluationandthepaymentcurrencyandinimport,theimportergenerallytriestousesoftcurrency.Hardcurrencyistheonethattendstoappreciatewhilesoftcurrencyistheonethattendstodepreciate.

2）Ifsoftcurrencyisusedinexportandhardcurrencyisusedinimport,weshouldtrytoraisethepriceforexportedgoodsandreducethepriceinimportsoastooffsetthepossibledepreciationorappreciationofthecurrencyused.

3）Tousebothsoftcurrencyandhardcurrency.Thatis,thepaymentistobemadepartiallyinsoftcurrencyandpartiallyinhardcurrency.

4）Tohaveanexchangeclauseinasalescontract.Thereareseveralwaystodothis:

a）Boththeevaluationcurrencyandthepaymentcurrencyaresoftcurrency.Thisisconvertedintohardcurrencyaccordingtotheexchangerateatthetimewhenthesalescontractisconcluded.Anduponpayment,thehardcurrencyisconvertedintosoftcurrency.b）Thepriceisevaluatedinsoftcurrencyandpaidinhardcurrency.Inthisway,thesoftcurrencywillbeconvertedintohardcurrencyattheratewhenthedealisconcluded.c）Thesamecurrencyisusedfortheevaluationandpayment.Whenthesalescontractisconcluded,anexchangerateisdeterminedbetweenthiscurrencyandafewothercurrencies.Whenthepaymentiseffected,iftheexchangeratebetweenthiscurrencyandtheothercurrenciesfluctuatebeyondacertainpercentage,thentheactualamountofthepaymentwillbeadjustedaccordingly.

ActivitiesforComprehension:

1）Howtounderstandtheactualamountofpayment?

2）Whyshouldthepaymentcurrencybeconvertiblecurrency?

3）Whydoestheexporteradoptseveralwaysindeterminingtheevaluationcurrencyandthepaymentcurrency?

4）Whatcanwedoiftheexchangeratebetweenthecontractedcurrencyandtheothercurrenciesfluctuatesbeyondacertainpercentage?

Exercises

1.TranslatethefollowingintoChinese:

1）TheamountinBritishPoundsunderthiscontractisequivalentto5millionU.S.DollarsascalculatedaccordingtotheratiobetweenthebuyingrateofBritishPoundsandthatofU.S.DollarspublishedbytheBankofChinaonthedayofconcludingthiscontract.

2）Onthedateofnegotiation,theamountinJapaneseYenshallbeconvertedintoEurodollarsatseller'soptionforfullorpartpaymentaccordingtotheratiobetweenthebuyingratesofEurodollarsandJapaneseYenpublishedbytheBankofChinaonthatdate.

3）Underthiscontract,oneU.S.dollarisequivalenttoxxCanadianDollars.BothinvoiceanddraftshallbemadeoutinU.S.Dollars.

2.Trytofindgrammaticalmistakesinthefollowingparagraph:

ThevalueofU.S.DollarsunderthiscontractaredeterminedbythearithmeticaverageofthemeanbuyingandsellingrateofU.S.DollarsagainstSwissFrancs,DeutscheMarksandFrenchFrancspublishedbytheBankofChinainJanuary12th,1997.Thearithmeticaveragesodeterminedshallbetookasthebasicfigureforthepurposeofadjustment.ShouldifthearithmeticaverageofthemeanbuyingandsellingratesofU.S.DollaragainstSwissFrancs,DeutscheMarksandFrenchFrancspublishedbytheBankofChinaonthedateofnegotiationdiffersfromtheabovebasicfigurebymorethan2%,theamountofpaymentunderthiscontractshallbeadjustinginproportionoftheactualchangeinthearithmeticaverage.TherelativeLetterofCreditopenedbytheBuyermustbearexpressstipulationinthiseffect.

3.TranslatethefollowingsentencesintoEnglish:

1）在汇率保值中，目前国际贸易中以特别提款权（SDR）保值使用日益广泛。

2）在销售合同中，货款通常按订约日伦顿金融时报所载支付货币的特别提款权汇率折合成特别提款权单位。

3）付款时，按特别提款权汇率折回到支付货币予以支付。

9.3

Instruments

Instrumentsorbillsusedininternationaltradeincludedraft,promissorynote,andcheck.Theyareallusedforthepaymentortransferofmoney.Amongthem,themostoftenusedisdraft.

9.3.1

DraftorBillofExchange

9.3.1.1

Definition,Parties,andChiefContents

Abillofexchangeisdefinedasanunconditionalorderinwriting,addressedbyonepersontoanother,signedbythepersongivingit,requiringthepersontowhomitisaddressedtopayondemand,oratafixedordeterminablefuturetime,acertainsumofmoneytotheorderofaspecifiedperson,ortothebearer.

Abillofexchangehasthreeparties:

thedrawer,thedraweeandthepayee.

Thedrawerisonewhodrawsorissuesthebill.Withthebillofexchange,hedemandsthedraweetopayacertainsumofmoneytothepayee.Hesignshisnameonthebill,andguaranteesthatthepayerwillpaythemoneyoracceptthebilluponthepresentationofthedraft.Hedrawsthebillofexchangeuponthedraweepresumablybecausethedraweeownsorisexpectedtopayhimacertainsumofmoney.

Thedraweeofthebillofexchangeisrequiredbythebillofexchangetopayacertainsumofmoneytothepayeeuponthepresentationofthebill,or,ifthebillisatimebill,heisrequiredtoacceptthebillandeffectthepaymentatthematurityofthebill.

Thepayeeofthebillofexchangeisthecreditorofthebillofexchange.Heisentitledtoaskthedraweeforthepayment.Ifrefused,heisentitledtohaverecoursetothedrawerforthepayment.Thepayeeisgenerallytheoneaslistedinthebill,butforannegotiablebill,thepayeelistedonthebillmaytransferthebilltosomeoneelse.Hethenbecomesthepriorendorserorthetransferor,whenthemantowhomthebillistransferredisthesubsequentparty.

Hereisanexampleofadraft:

————————————————————————

DrawnunderBankofChina,Singapore

IrrevocableL/CNo.4000158

DatedJan.10,1997

Payablewithinterest5.2%perannum

No.20010EXCHANGEforHK$236,880.00ChinaShanghaiFeb.20,1992

at30dayssightofthisFIRSTofExchange（secondofExchangebeingunpaid）paytotheorderofBankofChinathesumofHongkongdollarsTWOHUNDREDANDTHIRTY-SIXTHOUSANDEIGHTHUNDREDANDEIGHTYONLY

To:

ABCCOMPANY

345MARLIAROAD

SINGAPORE

ChinaNationalTextileImport&ExportCorp.,

ShanghaiBranch

—————————————————————————

Asisshownabove,thedraftshouldhavethefollowingcontents:

1）“draft”or“billofexchange”mustappearonthedraft

2）unconditionalordertopay

3）certainamountofmoney

4）tenor

5）placeofpayment

6）payer,ordrawee

7）payee

8）dateofissue

9）placeofissue

10）signatureofthedrawer

Alsothedraftmayormaynothavetheitemsstatingabouttheinterest,non-negotiability,firstbeingpaidsecondunpaid,draftnumber,andprotectunnecessary,etc..

9.3.1.2

Typesofdrafts

1）Commercialbillandbanker'sbill.Commercialbillisdrawnbycommercialcompanies,whichisoftenusedinforeigntradefinance,whilebanker'sbillisdrawnbybanks,whichischieflyusedinremittances.

2）Cleanbillanddocumentarybill.Inthetransferofthebillofexchange,ifthebillofexchangeisaccompaniedbyshippingdocuments,itisadocumentarybill;ifnot,itisacleanbill.Ininternationaltrade,mostlyitisthedocumentarybillthatisused,occasionallythecleanbillisusedtocollectpaymentinsmallamountorsundrycharges.

3）Sightbillandtime（usance）bill.Asightbilldemandsimmediatepaymentbythedraweeatthesightofthebill.Incaseofthetimebill,thedraweeistoacceptitfirstandpayitatalaterdate.Thedatemaybeinacertainnumberofdaysaftertheacceptance,suchas“30dayssight”or“50daysaftersight”,inacertainnumberofdaysafterthedateofthedrawingofthebillorthebilloflading,suchas“90daysafterthedateofthisdraft”,“30daysafterthebilloflading”oratafixeddateinthefuture,suchas“onJuly20,1998”.

4）Commercialacceptancebillandbanker'sacceptancebill.

Ifthedrawee