Lesson-12-The-Letter-of-Credit-(2).ppt

Lesson-12-The-Letter-of-Credit-(2).ppt

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Lesson12TheLetterofCredit（II）,BusinessKnowledge:

（1）Majortypesofcreditsandtheirfunctions,formsandmechanismA.CleancreditanddocumentarycreditB.RevocablecreditandirrevocablecreditC.ConfirmedcreditandunconfirmedcreditD.SightcreditandusancecreditE.Transferablecreditandnon-transferablecreditF.Non-draftcreditG.Revolvingcredit

（2）ThelimitationsoftheletterofcreditA.InabilitytoprovideabsolutesecurityB.Beingmoreexpensivethanotherformsofpayment,Lettersofcreditfallunderseveralcategoriesdependingontheirfunction,formandmechanism.Herearethemajortypesofcredit:

fallunder:

beincludedinorclassifiedas受到（影响等）；被归入他年轻时受到贝多芬的影响。

InhisyouthhefellundertheinfluenceofBeethoven.这个男人掉到火车底下被辗死了。

Themanfellunderatrainandwaskilled.,Categories:

acollectionofthingssharingacommonattribute;ageneralconceptthatmarksdivisionsorcoordinationinaconceptualschemen.种类，分类；数范畴productcategory产品类别；产品目录；积范畴firstcategory第一纲categorytheory范畴论categorymanagement品类管理；类别管理在这篇文章中，我将要讨论的是“内容”这个类别。

Inthispost,IwanttotalkabouttheContentcategory.,Mechanism:

theatomicprocessthatoccursduringachemicalreactionn.机制；原理，途径；进程；机械装置；技巧marketmechanism市场机制；市场调节作用reactionmechanism反应机理incentivemechanism激励机制controlmechanism控制机构operatingmechanism操作机构；工作机构这些特征背后的机制是什么？

Whatsthemechanismbehindthesetraits?

1.Cleancreditanddocumentarycredit:

Creditsthatonlyrequirecleandraft,i.e.draftnotaccompaniedwithshippingdocuments,forpaymentarecleancredit.Theyaregenerallyusedinnon-tradesettlement（非贸易结算）orinpaymentinadvancebymeansoftheL/C.Mostofthecreditsusedininternationaltradearedocumentarycredits,i.e.creditsthatrequireshippingdocumentstobepresentedtogetherwiththedraft.,Cleancredit光票信用证:

Thecreditsonlyrequirecleandraft,Non-tradesettlement非贸易结算:

paymentofanaccountnotrelatedtotrade,2.Revocablecreditandirrevocablecredit:

Thisclassificationisbasedonthecertainty（确信）ofthecommitment（承诺）topayonthepartoftheapplicantandtheissuingbank.Thecreditisarevocableoneifsuchcommitmentscanbealtered（改变）orevencanceled（取消）withoutconsultingwiththebeneficiary.Itisquiteobviousthattheexporterhaslittleassurance（保证）togetpayment,andthereforethistypeofcreditsarerarelyused.,Revocablecredit可撤消信用证:

ThecreditscanbealteredorevencanceledwithoutconsultingwiththebeneficiaryIrrevocablecredit不可撤消信用证:

Thecreditscannotbeamendedorrevokedwithouttheconsentofallthepartiesconcerned,Certainty:

thestateofbeingcertain;somethingthatiscertainn.必然；确实；确实的事情withcertainty确定无疑地toacertainty必定，肯定certaintyfactor可信度；确定性因素如果我们确实知道这些情况，我们又是如何得知的呢？

Ifweknowitforacertainty,howdoweknowit?

Commitment:

thetraitofsincereandsteadfastfixityofpurpose;theactofbindingyourself（intellectuallyoremotionally）toacourseofaction;anengagementbycontractinvolvingfinancialobligationn.承诺，保证；委托；承担义务；献身organizationalcommitment组织承诺；组织认同感professionalcommitment专业承诺makeacommitment承诺要做到这一点，我们必须获得政府最高层的承诺。

Todothis,wemusthavecommitmentatthehighestlevelofgovernment.,Alter:

causetochange;makedifferent;causeatransformation;makeorbecomedifferentinsomeparticularway,withoutpermanentlylosingonesoritsformercharacteristicsoressenceV.改变，更改你改变主意了吗?

Haveyoualteredyourmind?

诡辩改变不了历史。

Sophistrycannotalterhistory.,cancel:

postponeindefinitelyorannulsomethingthatwasscheduled;makeupfor;declarenullandvoid;makeineffectiveV.取消；删去;相互抵销cancelbutton取消按钮cancelout取消；抵销cancelafterverification核销为什么不取消会议呢？

Whynotcancelthemeeting?

假如下雨的话，我们明天就得取消比赛。

Ifitweretorain,wewouldhavetocancelthematchtomorrow.,consultingwith:

toexchangeopinions,information,etc.withapersonorpeople与.协商；磋商consultadvisewith仔细商量consultwith商量consultwithsuperior高级咨询;具有超强的咨询如果碰到困难，你应当和群众商量。

Incaseofanydifficulty,youmustconsultwiththemasses.,Irrevocablecreditsarethosethatcannotbeamended（revised修改）orrevoked（取消）withouttheconsent（同意）ofallthepartiesconcerned.Safeandreliable,thistypeisextensively（widely）usedinworldtrade.Itmustbenotedthatifthereisnospecificindicationwhetheracreditisrevocableorirrevocable,itshouldberegardedasirrevocable.,revoke:

failtofollowsuitwhenableandrequiredtodoso;annulbyrecallingorrescindingV.撤回，取消；废除他改变了以前作出的决定。

Herevokedhispreviousdecision.如果你再次被发现违章超速驾驶，你的驾驶执照将被吊销。

Yourdrivinglicensewillberevokedifyougetanotherspeedingticket.,Consent:

n.permissiontodosomething同意；（意见等的）一致；赞成informedconsent知情同意，知会同意；知后同意writtenconsent书面同意；同意书mutualconsent双方同意bycommonconsentadv.大家都同意（公认）我本应该首先征得你的同意。

Ioughtfirsttohaveaskedyourconsent.他把她的沉默误认为是同意Hemisinterpretedhersilenceasgivingconsent.,Extensively:

adv.inawidespreadway广阔地；广大地Studyextensively广泛的研究;实践中认真;查询准确;认真的思考extensivelysolicit广泛征求extensivelytested经过长期试验信用证在商务活动中被广泛应用。

Theletterofcreditisusedextensivelyinbusinessactivities.,3.Confirmedcreditandunconfirmedcredit:

Ifacreditisconfirmedbyabankotherthan（除之外）theissuingbank,itbecomesaconfirmedcredit.Theconfirmationisundertaken（承担）eitherbytheadvisingbankorbyanotherleadingbank.Underaconfirmedcredit,thebeneficiaryisgivendoubleassuranceofpayment（双重付款担保）sincetheconfirmingbankhasaddeditsownundertaking（承诺）tothat（承担）oftheopeningbank.,Confirmedcredit保兑信用证:

Thecreditisconfirmedbyabankotherthantheissuingbank,doubleassurance:

assuringsomethingtwice;promiseorinsurancehavingtwodifferentqualities,usesorwaysinwhichtobeconsidered双重保险，双重保障这些年轻人的就业有了双重保障。

Theyoungpeopleweregivendoubleassuranceoftheiremployment.,Ifthecreditisnotconfirmedbyanotherbank,itisanunconfirmedletterofcredit.Thoughaconfirmedcreditisconsideredtobeabletoprovidethegreatestdegreeofsecuritytothebeneficiary,itinvolvesadditionalcostasaresultoftheconfirmation.Thereforeiftheestablishingbankisareliableprimebank,confirmationmaynotbenecessary.Leadingbank（Primebank,Firstratebank）主要银行,4.Sightcreditandusancecredit:

Asightcreditisonebywhichpaymentcanbemadeuponpresentationofthedraftandimpeccabledocumentsbythebeneficiarytothebank.Itgivesthebeneficiarybettersecurityandhelpshimspeeduphiscapitalturnover.（资金周转）MostofChinasexportcontractsstipulateforsightcreditinpaymentterms.Obviously,asightcreditcallsforasightdraft.Ausancecredit,alsoreferredtoastermcreditortimecredit,isonebywhichpaymentcannotbemadeuntilaspecificdateoraspecifictimeafterthedateoraftersight.,Sightcredit即期信用证:

Thecreditbywhichpaymentcanbemadeuponpresentationofthedraftandimpeccabledocumentsbythebeneficiarytothebank,Usancecredit（Termcredit,Timecredit）远期信用证:

Thecreditbywhichpaymentcannotbemadeuntilaspecificdateoraspecifictimeafterthedateofaftersight,Theusancevariesfrom30,60,90daystoaslongas180daysevenlonger.Itisalsoclearthatthistypeofcreditrequiresausancedraft.Ifthebeneficiarywishestogetpaymentbeforethematurity（到期）ofthedraft,hecanaskthebanktodiscount（贴现）theacceptance,andimmediatelypayhimthenetproceeds（净收益）（netposition实际头寸）,i.e.thefacevalue（面值）ofthedraftminus（减去）thediscountcharges（收费）.,5.Transferablecreditandnon-transferablecredit:

Ifacreditcanbetransferredbytheoriginalbeneficiarytooneormoreparties,itisatransferablecredit.Theoriginalbeneficiaryiscalledthefirstbeneficiaryandtheparty（orparties）thecreditistransferredtoiscalledthesecondbeneficiary.,Transferablecredit可转让信用证:

Thecreditcanbetransferredbytheoriginalbeneficiarytooneormoreparties.Non-transferablecredit不可转让信用证:

Thecreditcannotbetransferred.,Itisusuallyusedwhenthefirstbeneficiaryisamiddlemananddoesnotsupplythegoodshimself.Acreditcanbetransferredonlyonce.Buttransferringacredittomorethanonepartyatthesametimeisallowedprovidedpartialshipmentsarepermitted.Ifacreditdoesnotspecifywhetheritistransferable,itshouldberegardedasanon-transferabledocumentaccordingtothecreditstipulation.,Middleman:

theperformerinthemiddleofaminstrellinewhoengagestheothersintalk;apersonwhoisinapositiontogiveyouspecialassistancen.中间人；经纪人；调解人人们不再需要一个中间人、一个非营利组织，来帮助达到他们想要的效果。

Peopledontneedamiddleman,anonprofit,tocreatetheimpacttheywanttosee.我们直接和零售商打交道，不经过任何中间人。

Weapproachtheretailersdirectly,withoutanymiddleman.,6.Non-draftcredit:

Thereisamoderntendencyforpaymenttobemadebypresentationofthedocumentswithouttheformalityofdrawingandpresentingadraft.Suchcreditsarenon-draftcredit.Theymainlyincludepaymentcreditanddeferredpaymentcreditwhicharerespectivelysimilartosightcreditandusancecreditwiththedifferencethatnodraftisdrawnandpresentedinthecaseofnon-draftcredit.,Non-draftcredit无汇票信用证:

Thecreditthatpaymentoftobemadebypresentationofthedocumentswithouttheformalityofdrawingandpresentingadraft.,7.Revolvingcredit:

Ifacreditstipulatedthatitsamountcanberenewed（更新）orreinstated（恢复）withoutspecificamendmenttothecreditbeingmade,itisthenarevolvingcredit.Itisparticularlyusefulwhenthebuyerandsellerhaveregulartradingrelationshipanddealinaspecificquantityofgoodseachmonthoranyparticularperiodoftime.,Revolvingcredit循环信用证:

Thecreditstipulatedthatitsamountcanberenewedorreinstatedwithoutspecificamendmenttothecreditbeingmade,Renew:

reestablishonanew,usuallyimproved,basisormakeneworlikenew;causetoappearinanewformV.使更新；续借；复兴；重申他们与其他进出口公司恢复了联系。

Theyrenewedcontactwithotherimportandexportcorporations.休息了一个小时后，他恢复了精力。

Havinghadanhoursrest,herenewedhisstrength.我们与西方国家已重建友好关系。

Wehaverenewedou