Thẻ ghi nhớ: Unit 6: Payment in international trade | Quizlet

Invoice

List of goods sold as a request for payment

Clean collection

Payment by bill of exchange to which documents are not attached

Documentary collection

Payment by bill of exchange to which commercial documents are attached

Bill of exchange

Signed document that orfers a person or organization to pay a fixed sum of money on demand or on a specific date

Bill of lading

Document that shows details of goods being transported, it entitles the reciever to collect the goods on arrival

Document of title

Documents allowing someone to claim ownership of goods

Issuing bank

bank that issues a letter of credit

Collecting bank

Bank that recieves payment of bill,... for their customer's account

Confirming bank

Bank that confirms they will pay the exporter on evidence of shipment of goods

Letter of credit

Method of financing overseas trade where payment is made by a bank in return for delivery of commercial documents, provided that the terms and conditions of the contract are met

Undertaking

a promise or guarantee given to or by a bank

Consignment

load of goods sent to a customer

Intermediary

Person or company that acts as a middleman in a transaction

Maturity

Date when a bill of exchange is due for payment

draw

The first step the exporter takes is to ask his bank to .... a bill of exchange on their overseas buyer

Forwards

The exporter's bank ... the bill of exchange, together with the commercial documents, to the importer's bank

Dispatches

As the same time, the exporter ... the goods

present

The exporter must take care to ... the correct documents to the bank

accepts/release

When the imported ... the bill of exchange, the banks will ... the documents of titles to the goods

Dishonours

If the importer ... the bill, the exporter may have to find an alternative buyer or ship the goods back again

remit

In some parts of the world, banks may be slow to ... payment to the exporter's bank

Advance payment

The mode of payment in which an importer pays an exporter for merchandise before it is shipped

Open account

The mode of payment in which an exporter ships merchandise and later bills the importer for its value

overseas buyer

The first step of the procedure for documentary collection, the exporter task is to ask his bank to draw a bill of exchange on the __