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1、Establishment of L/C and AmendmentChapter EightReview of chapter 7lTie up of fundslParticularly taxinglThe tight money condition lUnprecedentedlylConducive lprompt attentionlappear tolfinal settlementlInstruct. to. 通知l我们已通知我方银行开立以你方为收益人的、不可撤销信用证，其金额为1300美元。Review of chapter 7lInstruct. to. 通知l我们已通知我
2、方银行开立以你方为收益人的、不可撤销信用证.lBy courier 用快递形式Contents of Chapter 8Section One Introduction Section Two Specimen LettersSection Three Useful Words & ExpressionsSection Four Useful SentencesSection Five Exercises Section One Introduction （P127）L/C or Credits, by their nature, are separate transactions from
3、the sales or other contract(s) on which they may be based and banks are in no way concerned with or bound by such contract(s), even if any reference whatsoever to such contract(s) is included in the Credit. Consequently, the undertaking of a bank to pay, accept and pay Draft(s) or negotiate and/or t
4、o fulfill any other obligation under the Credit, is not subject to claims or defenses by the Applicant resulting from his relationships with the Issuing Bank or the Beneficiary.Establish and Amendment of L/ClA commonly used terms of payment.By nature of international trade, distrust exists between e
5、xporters and importers as to whether other party will carry out his obligation. It is better to have a third party that makes sure payment to the exporter and goods to the importer. Establish and Amendment of L/ClThe parties involvd in an L/C includeApplicant: the party who apllies for the opening o
6、f an L/C (the importer) 开证申请人 opening bank/issuing bank 开证行 advising bank / notifying bank通知行 beneficiary: the party in whose favor the L/C is issued ( exporter) 受益人以你方为收益人的信用证已经开出。Establish and Amendment of L/ClThe parties involvd in an L/C includenegotiating bank: the bank who buys an exporters dr
7、aft submitted to it under an L/C and then forwards the draft and document to the opening bank for reimbursement.(usually the advising bank) 议付行 paying bank: usually the opening bank 付款行Kinds of L/ClDocumentary L/C and clean L/C跟单信用证/ 光票信用证lIrrevocable L/C and revocable L/C不可撤销信用证/可撤销信用证lConfirmed L/
8、c and unconfirmed L/C保兑信用证/非保兑信用证lSight L/C and time L/C 即期信用证/远期信用证The advantages of using an L/ClIt is relable and safe for both sellers and buyers.lBecuase the issuing bank use its own credit to guarantee the payment of orders.The disadvantages of using an L/ClComplicated procedure of applying fo
9、r a L/ClBanks will charge service fee for issuing a L/C, therefore it add more cost to the buyer.The procdures of issuing an L/CBuyer and seller reach a S/C and agree to use L/C as payment termThe issuing bank asks another bank in the sellers country to be the advising bank.Buyer asks its bank to is
10、sue an L/C with the seller as the beneficiaryThe advising bank or confirming bank informs the seller that L/C hasbeen issued.Characteristic of L/ClL/C is an independent instrument compared to contract and not affected by contract.lThe bank bears reponsibility of the documents not the commodity itsel
11、f.lL/C is an agreement among the banks, beneficiary,opner and all other parties concerned.The content of L/ClL/C amountlTime of shipment, validity, arrival time.lPort of shipment/destinationlDscription of cargo: name of commodity, quality, specification, quantity, packing, price.lShipping doucuments
12、.lSpecial clauseslGuaranteeing wording for payment of issuing bank.Sentence patterns of L/C1.Covering / regarding2.For the amount of + amount3.In ones favor +beneficiary4.For ones account5.With/ through +issuing bankSentence patterns of L/C1.请开一个20公吨苹果的信用证，金额为2万美元。2.今早，我们经由花旗银行开立了一个以你方为收益人的信用证。3.今天，
13、我方收到由花旗银行开出，以你方为付款人的金额为3500美元的信用证。4.请查看我们7月3日关于1000打男士衬衫的合同。Sentence patterns of L/C1.请开一个20公吨苹果的信用证，金额为2万美元。Please open a L/C covering 20 MT apple, for the amoount of USD20 000. 1.今早，我们经由花旗银行开立了一个以你方为收益人的信用证。We opened an L/C in your favor throgh Citi Bank this morning.Sentence patterns of L/C1.昨天，我
14、方收到由花旗银行开出，以你方为付款人的金额为3500美元的信用证。we received an L/C for your account through Citi Bank, for the amount of USD3 500 yesterday.1.请查看我们7月3日关于1000打男士衬衫的合同。2.Please refer to our contract of 3rd July for 1000 dozon of mens shirts, Section Two Specimen Letters Speicmen 1 P127CommentsBecause of the drawing-
15、near of shipment, the seller urges for establishing the relevant L/C. The letter writes very well with the meaning clear and langauge used simple.Language pointslWith reference to. (regarding) 关于lExpedite the establishment 加快开立信用证lStipulation/stipulate 规定根据合同规定7月15日前装运According to the contract, the
16、shipment is stipulated to be made before July 15.Do ones utmost to do. 竭尽全力做.Language pointslDraw Draw your attention 提请某人注意Draw a draft 开出汇票我们将开出即期汇票向你方索取购买的200台电视机的货款。We are drawing (a draft) on you at sight against your purchase of 200 TV sets.Establish/open/issue an L/C 开出信用证Writing stepslWhen w
17、riting a letter urging the opening of an L/C, you need to include the following points.1.The reference no. of the S/C.2.State the importance of receiving the L/C in time;3.If necessary, you need to describe the consequences stipulated in the S/C.4.Your appreciation of the buyers cooperation.Notes1 t
18、o draw ones attention 提请某人注意2 be approaching 临近3 do ones utmost to do 竭尽全力做4 execute the order 执行订单5 subsequent amendments随后的修改6 be in exact accordance with 完全一致Specimen 2 P128CommentsEnquiries about terms of payment and replies are routine work. Most traders know the various methods of payment avai
19、lable for settling international trade transactions. However, there cases where the requests between the buyer and the seller cannot be met, then a letter of explanation is required. This kind of letter in some way implies persuasion. One of the principles in handling persuasion messages is You-view
20、point presentation. NotesCommercial Bank商业银行Specimen 3 P128Comments This letter is a good example for dapper and brief letter. Notesunder our S/C No. C234第C234销售确认书项下的Specimen 4 P129CommentsOn reading the L/C, the writer finds some mistakes, so he asks to amend the L/C. In this kind of letter, the w
21、rite should give the reason why the clause is not accepted. Notes1 the Chartered Bank 查特德银行2 On perusal 仔细阅读3 few and far between稀少4 via经由5 more often than not常常6 on hand 手头上有的Specimen 5 P130Comments Even though in the letter the writer uses the expression “asking you to open the relevant L/C” the l
22、etter is ok. Because the writer has written to the recipient twice to talk about the establishment of the L/C, he still has not receive any news about the L/C. So in the letter the writer uses strong tone.Notesthe captioned order标题订单标题订单Specimen 6 P130CommentsThe first sentence in the letter is not
23、so good, it is out of date.Notesin accordance with 与一致Specimen 7 P131CommentsBecause there is only one steam shipper to the destination in the L/C in a month. So it is impossible for the exporter to make shipping space. In this case, he write the letter to ask for L/C extension Notesthe first half o
24、f a month月初Specimen 8 P131CommentsIn this letter the writer ask for the amendment of payment from “at 120 d/s” to “at sight”. The letter is simple, but the reason why he want to change is very clear.Notes1 at 120 d/s见票后120天付款2 as stated请按要求Section Three Useful Words & Expressions P132Section Four Useful Sentences P147Section Five Exercises P152
