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1、Analyzing Characteristics of L/C BusinessClass:2010 级级 3 班班Number ID: 20102343Name：刘辉：刘辉Abstract If asked what is now the prevailing payment term in international trade, businessmen would indubitably blurt out the letter of credit, or L/C. As the modern world has been paving its way to globalization
2、, international trade and multinational transactions take place far more frequently than ever before. However, the characteristics of L/C business, though worth analyzing, draw relatively fewer attentions. This thesis, based on a great deal of research, aims to summarize, analyze and comment on the
3、characteristics of L/C business. . Managing to make the analysis methodically and systematically, this thesis mainly covers a stratified analysis on the designing features of L/C business reliability and safety, complexity, relatively high cost and limitations- L/C chicanes. Certain selected example
4、s appear in this thesis, aiming to proof the theoretical study.摘要 若被问及当今最常用的国际贸易支付方式，生意人通常会毫不犹豫地说出信用证 这一术语。因为当今世界已经为全球化铺下了路，所以国际贸易和跨国贸易发生的频率较 之前高了。然而，信用证贸易作为惯常采用的贸易手段，其自身特点却鲜有人关注，这不 得不称之为一种遗憾。在收集大量与信用证相关的信息后，这篇文章旨在总结分析信用证 贸易特点并对信用证贸易中存在的问题提出几点建议。 . 为力图使文章具有条理性和系统性，本文对信用证贸易中的四个显著特点即信用 证的可靠性，安全性，复杂性，成
5、本偏高性以及信用证的自身缺陷- 信用证诈骗进行逐层 分析。文中将引用一些实例来作为理论部分的论证。Introduction Futures, from the meaning of the word itself, compared with the actuals, must be something related to the future. It real meaning is a term used to designate all contracts covering the sale of financial instruments or physical commodities
6、 for future delivery on a commodity exchange.In the thirties and the forties of the nineteenth century, Chicago became the center of the cargo of the grain, for its significant hug geographic location and agricultural appealing climates. Because of the definite harvesting season of the grain, ineffi
7、cient warehouses and the inconvenient transportation, the grains price fluctuated according to the demand and the season. As a result, grain transaction turned to be highly risky. In order to ensure their future interest, the grain mediators signed the sale contracts with the manufacturers and the g
8、rain salesmen, which stipulated the future dealing in the spring of the next year, immediately after their purchase of the grain, thus the forward contract (A cash market transaction in which delivery of the commodity is deferred until after the contract has been made. It is not standardized and is
9、not traded on organized exchange) came into being. Futures, from the meaning of the word itself, compared with the actuals, must be something related to the future. It real meaning is a term used to designate all contracts covering the sale of financial instruments or physical commodities for future
10、 delivery on a commodity exchange.In the thirties and the forties of the nineteenth century, Chicago became the center of the cargo of the grain, for its significant hug geographic location and agricultural appealing climates. Because of the definite harvesting season of the grain, inefficient wareh
11、ouses and the inconvenient transportation, the grains price fluctuated according to the demand and the season. As a result, grain transaction turned to be highly risky. In order to ensure their future interest, the grain mediators signed the sale contracts with the manufacturers and the grain salesm
12、en, which stipulated the future dealing in the spring of the next year, immediately after their purchase of the grain, thus the forward contract (A cash market transaction in which delivery of the commodity is deferred until after the contract has been made. It is not standardized and is not traded
13、on organized exchange) came into being. 1.1 Bank Credit Ensures the Security of the PaymentBank credit, quite different from commercial credit, can to the most degree ensure the security of the payment.1.2 The Safety of the Exporters and the Importers Due to the definite advantages of L/C, the safet
14、y of both the exporters and the importers in L/C business can be ensured. 1.2.1 The Advantages for the ExportersExporters undertake great risks in international trading businesses. However, with the upsurge of L/C business, risks for the exporters have reduced significantly.In the first place, bank
15、credit is defined as a credit relying on banks as intermediaries to deal with payment, documents or any other terms related to a transaction. Due to Banks remarkable credit conditions, they are quite qualified as intermediaries to ensure the safety of the payments. Bank credit is defined as a credit
16、 relying on banks as intermediaries to deal with payment, documents or any other terms related to a transaction. Due to Banks remarkable credit conditions, they are quite qualified as intermediaries to ensure the safety of the payments. Whats more, for exporters who engage in L/C business, the refusal of payment caused by complaints about the shipments can be avoided and that will bring much benefit to the seller. All in all, though p
