The Royal Bank of Scotland:Trade Financial Tutorial

[贸易融资教程75页]

Contents Page
Contents Page................................................................................................................2
Introduction to export contracts and payments ..............................................................4
Export sales contracts ....................................................................................................5
Trade terms and Incoterms ............................................................................................6
Differing distributions of responsibility, cost and risk......................................................7
Methods of receiving payment for exports .....................................................................9
Advance payment.........................................................................................................10
Open account trading ...................................................................................................11
Collections ....................................................................................................................12
Clean collection ............................................................................................................13
Documents against acceptance (D/A)..........................................................................14
Documents against payment (D/P) ..............................................................................15
Letters of Credit.............................................................................................................17
UCP 500: Uniform customs and practice for Letters of Credit......................................19
Revocable and irrevocable credits ...............................................................................20
Confirmed and unconfirmed credits .............................................................................21
With and without recourse ............................................................................................22
Transferable Credits .....................................................................................................23
The exporter as first beneficiary ...................................................................................24
The exporter as second beneficiary .............................................................................25
Back-to-back Credits ....................................................................................................26
Advance payment (“red clause”) Credits......................................................................27
Revolving Credits..........................................................................................................28
Evergreen Credits.........................................................................................................29
Standby Credits ............................................................................................................30
Clean Credits ................................................................................................................31
Credits financed by international agencies ..................................................................32
Inoperative Credits .......................................................................................................33
Payment under Credits.................................................................................................34
At sight or deferred .......................................................................................................35
Acceptance and negotiation .........................................................................................36
Discounting and purchasing term bills..........................................................................37
Confirmation and silent confirmation ............................................................................38
Assignment of proceeds ...............................................................................................39
Coping with exchange rates .........................................................................................40
Export finance options ..................................................................................................41
Pre-shipment finance....................................................................................................42
Red clause Credits (Advance payment Credits) ..........................................................43
Revolving Credits..........................................................................................................44
Formal lending facilities ................................................................................................45
Banks...........................................................................................................................46
ECGD supplier insurance .............................................................................................47
Finance against collections ..........................................................................................48