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1、 TermsofPayment CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingTool TermsofPayment CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsof
2、PaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingTool TermsofPayment CharacteristicsofInternationalPaymentIssues ReducedCreditInformationLackofPersonalContactDifficultandExpensiveCollectionsNoEasyLegalRecourseHigherLitigationCostsMi
3、strust CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingTool TermsofPayment RisksinInternationalTrade CountryRiskCountryriskisalsoknownaspolitical
4、risk Theprobabilityofnotgettingpaidbyacreditor becausethecreditor scountryhas Insufficientforeignexchangereserves Politicalriskcanalsomeantheprobabilityofnationalizationofafirm ssubsidiarybythehostcountry RisksinInternationalTrade CommercialRiskTheprobabilityofnotgettingpaidbyacreditor becausethiscr
5、editordoesnothavethefundstopaythedebtorbecausethecreditorrefusestopaythedebt ExposureTherelativeconsequencesofabad debtriskforanexporter theriskofa 50 000losswouldrepresentagreaterexposureforasmallexporterthanforalargeexporter CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlter
6、nativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionProcurementCardsTradeCardTermsofPaymentasaMarketingTool TermsofPayment AlternativeTermsofPayment CashinAdvanceOpenAccountLetterofCreditDocumentaryCollection AlternativeTermsofPayment Table7 1 AdvantagesandDisadvantagesofS
7、everalTermsofPayment CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingTool TermsofPayment CashinAdvance DefinitionInaCashinAdvancetransaction theexporterrequeststhatthecus
8、tomerprovidepaymentinadvance beforeshipmentofthegoodscantakeplace Itistheultimate risk free alternativefortheexporter InaCashinAdvancetransaction theriskiscompletelytransferredtotheimporter CashinAdvance ApplicabilityThismethodisonlyjustifiedinrarecases Itcouldbeusedwhentheimporterisperceivedasbeing
9、veryhighrisk commercialorcountryrisk Itshouldbeavoided CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPaymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingTool TermsofPayment OpenAccount DefinitionInanOpenAccounttransactio
10、n theexporterconductsinternationalbusinessinamannersimilartothewayitconductsbusinessdomestically Theexportershipsthegoods accompaniedbyaninvoice andexpectstheimportertopaywithinadefinedtimeperiod 30 60days OpenAccount ApplicabilityTheexporterisconfidentthattheimporterwillpay e g long standingbusines
11、srelationship TheexporteriscompetingwithcompaniesthatofferOpenAccountterms Theexporterwantstocreategoodwill Incaseswheretheexporterisunsureoftheimporter scredit theexportercanusecreditinsurance OpenAccount CreditInsuranceAninsurancepolicyunderwhichcommercialriskiscovered Theinsurancecompanybearsther
12、iskofnon paymentbytheimporter deductingaslightpercentageofthereceivable Creditinsurancedoesnotcoverpoliticalrisk unlesstheexporterhasexplicitlyaskedforadditionalpoliticalcoveragethatisobtainedthroughtheEx ImBank CharacteristicsofInternationalPaymentIssuesRisksinInternationalTradeAlternativeTermsofPa
13、ymentCashinAdvanceOpenAccountLetterofCreditDocumentaryCollectionTermsofPaymentasaMarketingTool TermsofPayment LetterofCredit DefinitionALetterofCreditisadocumentwithwhichtheimporter sbankpromisestopaytheexporteriftheimporterdoesnotpay LetterofCredit IssuingBankThebankprovidingtheLetterofCredittothei
14、mporter Thebankthatwillpaytheexporterwhenitprovidesallthenecessarydocuments shouldtheimporterbeunabletopay AdvisingBankThebankthatdetermineswhetherthetermsoftheLetterofCreditofferedbytheIssuingBankareappropriate TheAdvisingBankisgenerallytheexporter sregularbank Insomecases theexporter sbankwilldele
15、gatethisroletoanotherbankwhichismoreexperiencedininternationaltrade LetterofCredit ApplicantThefirmaskingtheIssuingBankforaLetteraCredit Usually theapplicantistheimporter BeneficiaryThefirmnamedinaLetterofCreditasthefirmtowhichtheissuingbankispromisingpaymentiftheimporterdoesnotpay Usually thebenefi
16、ciaryofaLetterofCreditistheexporter LetterofCredit Process IssuanceFirstStep Negotiationbetweenexporterandimporter SecondStep Applicant Importer requeststhebanktoopenaLetterofCredit L C onimporter sbehalfandnamingexporterasbeneficiary ThirdStep IssuingBanksendsthisL CtoAdvisingBank Exporter sBank FourthStep TheAdvisingBanknotifiesthebeneficiarythattheL Cisacceptable LetterofCredit IssuanceofaLetterofCredit LetterofCredit Process ShipmentFifthStepTheexportershipsthemerchandisetotheimporter Aftera
