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TermsofPayment当前1页，总共43页。

CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTermsofPayment当前2页，总共43页。

CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingToolTermsofPayment当前3页，总共43页。CharacteristicsofInternationalPaymentIssuesReducedCreditInformationLackofPersonalContactDifficultandExpensiveCollectionsNoEasyLegalRecourseHigherLitigationCostsMistrust当前4页，总共43页。

CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingToolTermsofPayment当前5页，总共43页。RisksinInternationalTradeCountryRisk

Countryriskisalsoknownaspoliticalrisk.Theprobabilityofnotgettingpaidbyacreditor,becausethecreditor’scountryhas:Insufficientforeignexchangereserves.Politicalriskcanalsomeantheprobabilityofnationalizationofafirm’ssubsidiarybythehostcountry.当前6页，总共43页。RisksinInternationalTradeCommercialRisk

Theprobabilityofnotgettingpaidbyacreditor,becausethiscreditordoesnothavethefundstopaythedebtorbecausethecreditorrefusestopaythedebt.Exposure

Therelativeconsequencesofabad-debtriskforanexporter;theriskofa$50,000losswouldrepresentagreaterexposureforasmallexporterthanforalargeexporter.当前7页，总共43页。

CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingToolTermsofPayment当前8页，总共43页。AlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollection当前9页，总共43页。AlternativeTermsofPaymentTable7-1:AdvantagesandDisadvantagesofSeveralTermsofPaymentTermofpaymentProbabilityofLosingtheBusinessbecauseoftheChoiceofMethodofPaymentProbabilityoflossduetoNon-PaymentCashinAdvanceHighNilLetterofCreditFairlyHighAlmostNilDocumentaryCollectionLowLowOpenAccountNilRelativelyHigh当前10页，总共43页。

CharacteristicsofInternationalPaymentIssuesRisksinInternationalTrade

AlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTermsofPayment当前11页，总共43页。CashinAdvanceDefinitionInaCashinAdvancetransaction,theexporterrequeststhatthecustomerprovidepaymentinadvance,beforeshipmentofthegoodscantakeplace.Itistheultimate“risk-free”alternativefortheexporter.InaCashinAdvancetransaction,theriskiscompletelytransferredtotheimporter.当前12页，总共43页。CashinAdvanceApplicability

Thismethodisonlyjustifiedinrarecases.Itcouldbeusedwhentheimporterisperceivedasbeingveryhighrisk(commercialorcountryrisk).Itshouldbeavoided.当前13页，总共43页。

CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTermsofPayment当前14页，总共43页。OpenAccountDefinition

InanOpenAccounttransaction,theexporterconductsinternationalbusinessinamannersimilartothewayitconductsbusinessdomestically.Theexportershipsthegoods,accompaniedbyaninvoice,andexpectstheimportertopaywithinadefinedtimeperiod(30-60days).当前15页，总共43页。OpenAccountApplicabilityTheexporterisconfidentthattheimporterwillpay(e.g.long-standingbusinessrelationship).TheexporteriscompetingwithcompaniesthatofferOpenAccountterms.Theexporterwantstocreategoodwill.Incaseswheretheexporterisunsureoftheimporter’scredit,theexportercanusecreditinsurance.当前16页，总共43页。OpenAccountCreditInsurance

Aninsurancepolicyunderwhichcommercialriskiscovered.Theinsurancecompanybearstheriskofnon-paymentbytheimporter,deductingaslightpercentageofthereceivable.Creditinsurancedoesnotcoverpoliticalrisk,unlesstheexporterhasexplicitlyaskedforadditionalpoliticalcoveragethatisobtainedthroughtheEx-ImBank.当前17页，总共43页。

CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTermsofPayment当前18页，总共43页。LetterofCreditDefinitionALetterofCreditisadocumentwithwhichtheimporter’sbankpromisestopaytheexporteriftheimporterdoesnotpay.当前19页，总共43页。LetterofCreditIssuingBank

ThebankprovidingtheLetterofCredittotheimporter.Thebankthatwillpaytheexporterwhenitprovidesallthenecessarydocuments,shouldtheimporterbeunabletopay.AdvisingBankThebankthatdetermineswhetherthetermsoftheLetterofCreditofferedbytheIssuingBankareappropriate.TheAdvisingBankisgenerallytheexporter’sregularbank.Insomecases,theexporter’sbankwilldelegatethisroletoanotherbankwhichismoreexperiencedininternationaltrade.当前20页，总共43页。LetterofCreditApplicantThefirmaskingtheIssuingBankforaLetteraCredit.Usually,theapplicantistheimporter.Beneficiary

ThefirmnamedinaLetterofCreditasthefirmtowhichtheissuingbankispromisingpaymentiftheimporterdoesnotpay.Usually,thebeneficiaryofaLetterofCreditistheexporter.当前21页，总共43页。LetterofCredit(Process)Issuance

FirstStep--Negotiationbetweenexporterandimporter.SecondStep--Applicant(Importer)requeststhebanktoopenaLetterofCredit(L/C)onimporter’sbehalfandnamingexporterasbeneficiary.ThirdStep--IssuingBanksendsthisL/CtoAdvisingBank(Exporter’sBank).FourthStep--TheAdvisingBanknotifiesthebeneficiarythattheL/Cisacceptable.当前22页，总共43页。LetterofCreditIssuanceofaLetterofCredit

当前23页，总共43页。LetterofCredit(Process)Shipment

FifthStepTheexportershipsthemerchandisetotheimporter.Afteralldocumentsarecollected,theexportersendsthemtotheAdvisingBank,.Sixthstep–TheAdvisingBankchecksthedocumentsagainstthetermsoftheL/C,andsendsthemtoIssuingBankSeventhstep--Afterreceivingandcheckingthedocuments,theIssuingBanknotifiestheimporter,whousesthemtoclearCustoms.当前24页，总共43页。LetterofCredit(Process)ShipmentUnderaLetterofCredit当前25页，总共43页。LetterofCredit(Process)PaymentEighthStep--

ImporterpaysIssuingBank.NinthStep--IssuingBankpaysAdvisingBank.TenthStep--AdvisingBankpaysExporter.当前26页，总共43页。LetterofCredit(Process)PaymentUnderaLetterofCredit当前27页，总共43页。LetterofCredit(Process)

Entire(Simplified)ProcessofaLetterofCredit当前28页，总共43页。LetterofCreditALetterofCreditis:IrrevocableItcannotbealteredwithouttheexpressconsentofallpartiesinvolved.VirtuallyallLettersofCreditareirrevocable.DocumentaryThebeneficiarymustpresentacertainsetofdocuments(billoflading,invoiceandmiscellaneouscertificates)tothebank.Itispaidondocuments,notthesafearrivalofthegoods.P185当前29页，总共43页。LetterofCreditConfirmedLetterofCredit

TheexporterasksabanktoprovideanadditionallevelofpaymentsecuritytoaLetterofCredit.Iftheimporterdoesnotpay,andtheIssuingBankdoesnotpay,theConfirmingBankpays.CorrespondentBank

Aforeignbankwithwhichadomesticbankhasapreferredbusinessrelationship.P185-186当前30页，总共43页。LetterofCreditUCP600UniversalCustomsandPracticeforDocumentaryCredit,2007Revision,InternationalChamberofCommerce.

URR725UniformRulesforBank-to-BankReimbursementsunderDocumentaryCredits.P186-188当前31页，总共43页。LetterofCreditApplicability

LettersofCreditareanoutstandingmeansofmakingsurethattheexporterwillbepaid.LettersofCreditarecostly.LettersofCreditarecumbersome.P190当前32页，总共43页。AdditionalTypesofLettersofCreditStand-ByLettersofCreditTransferableLettersofCreditBack-to-BackLettersofCreditP190当前33页，总共43页。

CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingToolTermsofPayment当前34页，总共43页。DocumentaryCollectionDefinitionItisaprocessbywhichanexporterasksabankto“safeguard”itsinterestsintheforeigncountrybynotreleasingthedocuments.ItisaccompaniedbyaBillofExchange(alsocalledaDraft).P192当前35页，总共43页。DocumentaryCollectionRemittingBank

ThebankthatinteractswiththeexporterandwiththePresentingBankintheimportingcountry.ReceivesthedocumentsfromtheexporterandthensendsthemtothePresentingBank.Ithasnoobligationtorenderjudgmentoradviceonthequalityofthepacketofdocuments;itjusttransmitsthemtothePresentingBank.PresentingBank

Thebankthatinteractswiththeimporteronbehalfoftheexporter.ReceivesthedocumentsfromtheexporterorfromtheRemittingBankandholdsthemuntiltheimportereithersignsadraftorpaystheexporter.FollowstheLetterofInstructionsfromtheExporter.P192-193当前36页，总共43页。DocumentaryCollectionSightDraftD/PTheRemittingBankisinstructedtoreleasethedocumentsonlywhentheImporterpays.Theimporterhastopay“onsight.”TimeDraftD/PD/ATheRemittingBankisinstructedtoreleasethedocumentsonlyaftertheImporterhassignedtheDraft.APromissoryNotethattheimporterhastopayin30,60,90or180daysafterthedateatwhichitsignstheDraft.Theexporterextendscredittotheimporter.P193-194当前37页，总共43页。DocumentaryCollectionDateDraftD/PD/ATheRemittingBankisinstructedtoreleasethedocumentsonlyaftertheImporterhassignedtheDraft.APromissoryNotethattheimporterhastopayin30,60,90or180daysafterthedateatwhichthegoodswereshipped(BOLdate).Theexporterextendscredittotheimporter.P194当前38页，总共43页。Docu