8 Chapter 7: Payment in international trade

Payments in foreign trade are complicated. It is here that the banks play an essential part. Their services are used at some stage or other in every foreign trade transaction and are almost indispensable.

Settlement of foreign debts may be made in a number of ways: by banker’s draft, banker’s transfer (mail, telex and telegraphic), letter of credit, bill of exchange, promissory note.

1. The Sales Letters

This is a banker’s cheque which the bank draws on itself and sells to the customers, who then sells it to his supplier.

Like cheques, banker’s drafts are payable on demand, but unlike cheques they carry little or no risk since they are backed by the assets of the bank that issues them.

An importer wishing to pay by draft would buy it at a local bank and send it to the exporter, who would pay it into his bank account.

Example 1. Request for payment by banker’s draft

Exporter’s request

Dear Sirs,

We enclose your statement for November, 20… and assume that you will send the outstanding balance of £ 95.62 by banker’s draft.

If, however, you prefer to pay by bill of exchange and will let us know, we will draw on you for the amount at 30 d/s and send you our draft for acceptance.

Yours faithfully

Importer’s reply

Dear Sirs,

Thank you for your letter of 6th December. We appreciate your offer to take payment of the balance due on your statement for November, 20…. by drawing on us at 30 d/s and would like to take advantage of it. If therefore you will send us your draft, we will accept it at once, payable at Barclays Bank, International, Ibadan.

Yours faithfully,

d. Exporter sends draft

Dear Sirs,

As requested in your letter of 12th December, we have now drawn on you at 30 d/s in the sum of £95.62 and enclose our draft for acceptance. We shall present the draft for payment through our bankers and we recommend it to your protection.

Yours faithfully,

2. Banker’s Transfers

(Mail, telex and Telegraphic Transfers)

Payment in international trade can be made by ordering a home bank to transfer money to an overseas account. This is one of the safest methods of sending money abroad. All the debtor has to do is to instruct his bank, either by letter or on a special form, to make the transfer. The debtor’s bank then arranges for the creditor’s bank to be credited with an equal amount in local currency or the sum transferred, the calculation being made at the current rate of exchange.

As these transfers are arranged direct between the two banks, losses are impossible, but as delays may occur when the transfers are made by mail, it is now customary for the banks to communicate either by telegram or by Telex, thus giving rise to what are commonly known as the Telegraphic Transfer and Telex, thus giving rise to what are commonly known as the Telegraphic Transfer and Telex Transfer. Exchanger rates for these transfers are quoted in the daily press.

Example 2. Payment by telegraphic transfer

Dear Sirs,

We have received your statement for the quarter ended 30th September and find that it agrees with our books. As requested, we have instructed our bankers, the Midland Bank Ltd., 2 Deansgate, Manchester, to telegraph the sum of £ 2,182.89 for the credit of your account at the Bank Bazargani Iran, Tehran.

This payment clears your account up to 31st August. The unpaid balance of £623.42 for goods supplied during September will be telegraphed by our bankers on or before 15th November.

Yours faithfully,

3. Bill of Exchange

A bill of exchange is an order sent by the drawer (the person asking for the money) to the drawee (the person paying) stating that the drawee will pay on demand or at a specified time the amounts shown on the bill. If the drawer accepts the bill, he will sign his name on the face of it and date it.

The bill can be paid to a bank named by the drawer, or the drawee can name a bank he want to use to clear the bill. If this is the case, the bill will be kept in the drawer’s bank until it is to be paid. When the bill is due it is presented to the paying bank. Such bills are said to be domiciled with the bank holding them.

A sight draft or sight bill is paid on presentation. In a documents against payment (D/P) transaction, the sight draft is presented to the importer with the shipping documents, and the importer pays immediately, i. e. “on presentation” or “at sight”.

A bill paid “after date” or “after sight” can be paid on or within the number of days specified on the bill. Therefore 30 days after sight means that the bill can be paid 30 days after it has been presented.

Overseas bills in the UK are known as foreign bills, and those used within the UK as inland bills. A clean bill is one that is not accompanied by shipping documents.

The advantage for the exporter of payment by bill is that the draft can be discounted, i.e. sold, to a bank at a percentage less than its value, the percentage being decided by the current market rates of discounting. So even if the bill is marked 90 days, the exporter can get his money immediately. The advantage for the importer is that he is given credit, provided the bill is not a sight draft. The bank, however, will only discount a bill if the buyer has a good reputation.

Bills can be negotiable if the drawer endorses the bill. If Mr. Panton, the beneficiary of the bill at (b) wanted to pay another manufacturer, he could write on the back of the bill, i.e. endorse it, and the bill would become payable to the person who owned it. Mr. Panton can endorse it specifically, i.e. make it payable only to the person named on the bill.

It is possible to send the bill direct to the importer, if he is well known to the exporter, or if not, to his bank which will hand it to him with the documents for either acceptance or payment.

A dishonoured bill is one that is not paid on the due date. In this case the exporter will protest the bill, i. e… he will go to a notary, a lawyer, who will, after a warning, take legal action to recover the debt.

The abbreviations B/E for bill of exchange and d/s for days after sight are often used. And you are now familiar with D/P documents against payment and D/A, documents acceptance.

Specimen Letters and form: Bill of Exchange Transactions

a. Letter Advising Despatch of a Bill: Panton Manufacturing Ltd. have completed an order for a Dutch customer. They now advise him that the agreed bill of exchange has been sent off.

Dear Mrs Haas,

Order No. 8842

Thank you for your order which has now been completed and is being sent to you today.

As agreed we have forwarded our bill, No. 1671 for £860.000 with the documents to your bank. Nederlandsbank, Heldringstraat, Amsterdam. The draft has been made out for payment 30 days, after sight, and the documents will be handed to you on acceptance.

Yours faithfully,


c. Letter Advising Dispatch of Sight Draft

The bill at (b) was for payment 30 days after sight. If supplier wants immediate payment or does not have time to check the customer’s credit-worthiness, he may send a sight draft, as in this example.

Dear Mrs. Lindquvist

We have made up your order, No. 8540, which is now a board the MS Leda which sails for Copenhagen tomorrow.

We are sure you will be pleased with selection of items that we were able to get from stock. As there was no time to check references, we have drawn a sight draft which will be sent to Nordbank, Garnes Vej, Copenhagen, and will be presented to you with the documents for payment.

If you can supply two references before placing your next order, we will put the transaction on a documents against acceptance basis with payment 30 days after sight.

Yours faithfully,

Dear Sirs,

Please would you send the enclosed draft on J. K. B. Products Pty., and documents to the National Australian Bank, 632 George Street, Sydney, Australia, and tell them to release the documents on acceptance.

Yours faithfully,

e. Request to a Bank to Accept a Bill: The Australian importer mentioned in the previous letter now writes to his bankers to tell them to accept the bill.

Dear Sirs,

You will shortly be receiving a bill of exchange for £2,163 and relevant documents from Panton Manufacturing Ltd., England. Would you please accept the draft on our behalf, send us the documents, and debit your account?

Yours faithfully,

f. Non-Payment of a Bill

If a customers cannot pay a bill he must inform his supplier immediately; When a bill is not paid and no notice has been given, the supplier usually writes to the customers before protesting the draft, as here. Note the expression “Refer to Drawer” which means the bank is returning the bill to the drawer. (This expression is also used when a dishonoured cheque is returned). Also notice that a formal protest is to be made, which means that the drawer will contact a lawyer to handle the debt, if payment is not made within the specified time.

Dear Mrs. Haas,

B/E No. 1671

The above Bill for £860.000 was returned to us from our bank this morning marked “Refer to Drawer”

The bill was due on the 5th April and appears to have been dishonoured; We are prepared to allow you a further three days before presenting it to the bank again, in which time we hope that the draft will have been met. If the account is still not settled, we will have to make a formal protest, which we hope will not be necessary.

Yours sincerely,

4. Banker’s Commercial Credits

From the exporter’s point of view the documentary bill suffers from the defect that the foreign buyer may fail to honor the bill. To avoid this risk a system of banker’s commercial credits or documentary credits has been developed. It makes use of the commercial letter of credit, which serves the same purpose as the traveler’s letter of credit and puts the credit of the bank in place of the importer. The system is now widely used in the world and the principal method of payment of Vietnam foreign trade organizations in dealing with foreign firms. The system works as following:

1. The importer asks his own bank to open a credit in favour of the exporter, usually on a specially printed application form.

2. The importer’s bank then sends a letter of credit to the exporter or, more usually, arranges for one of its branches or correspondents in the exporter’s country to do so.

3. From this point the exporter deals with the correspondent bank and when the goods are shipped, prepares the shipping documents and presents them (more often than not with a bill of exchange drawn on the correspondent bank) to the correspondent bank, which “pays” for them within the limits of the authorized credit and sends them to the importer’s bank.

4. The importer’s bank in turn passes the documents to the importer either against payment or against his a acceptance of a bill of exchange, if one accompanies the documents.

In effect, the importer’s bank is temporarily providing the funds from which the exporter is paid, though it will usually require the importer to maintain a sufficient balance in his account to cover the credit.

The following table is a summary of a commercial credit transactions covering a consignment from British Exporter to Vietnamese Importer.

Credit issued in Hanoi

Credit used in London




to authorize


To pay



“sells” documents to


which sends them to


which obtains

payment from


The credit can be either revocable or irrevocable. Under a revocable letter of credit the importer is free to modify or even to cancel it without so much as giving notice to the exporter, but an irrevocable letter of credit can be neither amended nor withdrawn without permission of the exporter to whom it is granted; the exporter can, therefore, rely on being paid.

Correspondence connected with these credits is very technical, as is evidentfrom the complicated nature of the printed forms used by the banks, and should be handled by someone who is thoroughly familiar with the practice.

Example 1. Payments by L/C

Foreign buyer’s order

Dear Sirs,

Our order No. 361

Having received your specification and price list of paints and varnishes and details of the arrangements for payment, we now wish to place the enclosed order with you. As we are in urgent need of several of the items, we should be glad if you would make up and ship the order as soon as you possibly can.

We have instructed Vietcombank to open a credit for £ 11,500 in your favour, effective until 10th Nov. The credit will be confirmed by Barleys Bank London EC3 who will accept your draft on them at 60 days for the full amount of your invoice; They will require the following shipping documents to be attached to your draft:

– Bill of Lading in duplicate

– Invoice, CIF Liverpool in triplicate

– Insurance policy for £ 11,500

The credit we have arranged is sufficient to cover invoice cost and any further charges.

As soon as details of shipment are known, please notify us by air mail.

Yours faithfully,

Exporter’s acknowledgment

Dear Sirs,

Your Order No. 361

It is with pleasure that we acknowledge your order of 17th Oct, for paints and varnishes. As this is your first order we take the opportunity to remind you that all our products are manufactured to the specification of the very highest grade. We are sure you will be completely satisfied with them.

The arrangements you have made to meet our account are quite satisfactory. All items included in your order can be supplied from stock and will be packed and dispatched immediately, the credit is confirmed by Barleys Bank. You may rely upon our prompt attention to this and any further orders you may place with us and we will of course notify you by air mail as requested as soon as your order is shipped.

Yours faithfully,

Example 2. Documentary Credit – Stages in transaction

­­Buyer Approaches Bank

Dear Sirs,

We have just concluded an agreement to purchase monthly shipments of … from … over the next six months and would like to make use of international payment facilities by opening a series of monthly credits for £ 20,000 each in favour of … It has been agreed that we provide credits with a bank in …. against which our supplier would draw for the value of shipments as they are made.

Will you please let us know on what terms you would be prepared to arrange the necessary credits and to handle the shipping documents for us.

Yours faithfully,

Bank offers to provide credits

Dear Sirs,

We thank you for your inquiry of 15th March. We shall be pleased to handle the shipments (referred to) and arrange for the necessary documentary credit with our Bank against deposit of Bill of Lading and other shipping documents. If you will complete and return the enclosed form we will make the arrangements.

Our commission charges for revocable documentary credits would be 1/8 to 1/4% on each of the monthly credits, to which must be added 1/4%, for irrevocable credits and also our charges for such items as telegrams and postages; In return for these charges you have our assurance that your interests would be carefully protected.

Yours faithfully,

Buyer instructs bank

Dear Sirs,

I have completed and enclose the form of application for a documentary credit received with your letter of 17th March and shall be glad if you will arrange by telegram to open for our account with your bank irrevocable credits for £2,000 a month in favour of… The credits to be valid until 30th September next.

To enable them to use the credits, the company must present the following documents:

– Bill of lading in triplicate

– One copy of the invoice

– Certificate of policy of insurance

– Certificate of origin

and draw on your bank at 60 d/s for each consignment for the value of about £ 20,000.

Yours faithfully,

Bank agrees to open credit

Dear Sirs,

As instructed in your letter of 20th March we are arranging to open a documentary credit in your favour valid until 30th September next. You will find enclosed a copy of our telegram opening the credit. We shall be glad if you will check it to ensure that it agrees with your instructions.

As soon as the credits are used we will debit your account with the amount notified to us as having been drawn against them.

We shall take all necessary steps to make sure that your instructions are carefully carried out, but wish to make it clear that we cannot assume any responsibility for the safety of the goods, or for delays since these are matters beyond our control.

Yours faithfully,

Buyer notifies exporter

Dear Sirs,

This is to inform you that we have opened irrevocable credits in your favour for £ 20,000 a month with…, valid until September next; The terms of credit authorize you to draw at 80 days on the bank in… for the amount of your invoices after each shipment. Before accepting your draft, which should include all charges, the bank will require you to produce the following documents:

– Bill of lading in triplicate

– One copy of the invoice covering CIF…,

– Certificate of policy of insurance

– Certificate of origin

We will expect your first consignment about the middle of August.

Yours faithfully,

Bank issues L/C

Dear Sirs,

On instruction from Messrs…. received through our office, we have opened monthly irrevocable credits for £2,000 in your favour, valid until 30th September next. You have authority to draw on us at 60 days against these credits for the amount of your invoices upon shipment of … to …. Your drafts must be accompanied by the following document, which are to be delivered to us against our acceptance of the drafts:

– Bill of lading in triplicate

– One copy of the invoice

– Certificate of policy of insurance

– Certificate of origin.

Provided you fulfill the terms of credit we will accept and pay at maturity the drafts presented to us under these credits and, if required, provide discounting facilities at current rates.

Yours faithfully,

g. Exporter presents documents

Dear Sirs,

Referring to your advice of 30th March, we enclose shipping documents for the first of the monthly consignments to….

As required by them we have included all charges in our invoice which amounts to £ 11,725.75 and enclose our draft at 60 days for this sum. We shall be glad if, after acceptance, you will discount it a the current rate and remit the net amount to our account with…

We thank you for your help in this matter.

Yours faithfully,

h. Bank debits buyers

Dear Sirs,

As instructed by your letter of 20th March, our bank has just accepted for your account a bill for £ 22,725.75 drawn by… for the first consignment of…. to you on MS… We have debited your account with this amount and our charges amounting to £ 44,30.

The ship left …. on 22nd April and is due to arrive in… on 2nd May. The shipping documents for this consignment are now with us and we shall be glad if you will arrange to collect them.

Yours faithfully,

5 . Promissory notes

Whereas a bill of exchange is an order to pay, a promissory note is a promise to pay a stated sum of money to a named person on a stated future date. It is governed by the rules that apply to bills of exchange but, unlike bills, promissory notes do not require an acceptance. They are not used very much in business, but are often given as security for a loan.

No. 651

£ 51,000

London, 15th June, 20…

Two months after date I promise to pay to H. Blake Esq., or order, the sum of fifty-one thousand pounds value received.

(signed) H. Miller

Example. Payment by Promissory Note

Dear Sirs,

I am pleased to send you with this letter my promissory note for repayment at two months of your loan of £ 10,000 on 14th June, 20…, together with interest at 9% per annum, making a total of £10,150.

Payment will be made on presentation at the Lord Street Branch of the National Bank, Bristol.

Yours faithfully,


1. Buyer to Exporter

1. Người mua gửi người bán

a. Openings

a. Mở đầu

1. We have received your invoice No… and agree to accept your draft at 60 d/s for the amount due…

1. Chúng tôi đã nhận được hóa đơn của các ngài số ….. và đồng ý chấp nhận hối phiếu định kỳ 60 ngày cho số tiền đến hạn thanh toán…

2. Thank you for your letter of… we should be glad if you would agree to draw on us at 30 d/s, document against acceptance.

2. Cảm ơn thư của các ngài ngày …. chúng tôi sẽ vui mừng nếu các ngài đồng ý phát hối phiếu định kỳ 30 ngày cho chúng tôi, theo phương thức chấp nhận đối chứng từ (D/A).

3. As requested in your letter of … we have instructed the…. Bank to open a credit for …. in your favour.

3. Theo yêu cầu trong thư của các ngài … chúng tôi đã chỉ thị cho ngân hàng …. mở tín dụng thư trị giá ….. cho các ngài được hưởng.

4. We are sorry to have to ask for them term of your bill dated … to be extended for one month.

4. Chúng tôi rất tiếc phải đề nghị các ngài gia hạn hối phiếu đề ngày …. thêm một tháng.

b. Ending

b. Kết thúc

1. Please let us know whether you are prepared to give us open account terms.

1. Đề nghị ngài cho chúng tôi biết liệu ngài có sẵn sàng dành cho chúng tôi điều kiện thanh toán theo phương pháp ghi sổ không.

2. Please draw on us for the amount due and attach the shipping documents.

2. Đề nghị các ngài ký phát hối phiếu cho chúng tôi cho số tiền đến kỳ trả và gửi kèm chứng từ vận tải đường biển.

3. We would like to pay by bill of exchange at 60d/s and should be glad if you would agree to this.

3. Chúng tôi muốn trả bằng hối phiếu định kỳ 60 ngày và sẽ vui mừng nếu các ngài đồng ý.

4. As requested, we will arrange to open an irrevocable credit in your favour.

4. Theo yêu cầu chúng tôi sẽ thu xếp mở tín dụng thư không huỷ ngang cho các ngài được hưởng.

2. Exporter to Buyer

2. Người xuất khẩu gửi người Mua

a. Openings

a. Mở đầu

1. We have considered your letter of …. and we are pleased to grant the open account terms asked for.

1. Chúng tôi đã nghiên cứu thư của các ngài ngày… và vui mừng dành cho các ngài điều kiện thanh toán theo phương pháp ghi sổ các ngài yêu cầu.

2. As requested in your letter of… we have drawn on you for the sum of … 60 d/s.

2. Theo yêu cầu trong thư của các ngài ngày….. chúng tôi đã ký phát hối phiếu định kỳ 60 ngày cho các ngài với số tiền là…

3. As agreed in our earlier correspondence we have drawn on you for the amount of the invoice enclosed.

3. Như đã thỏa thuận trong giao dịch thư từ trước đây của chúng ta chúng tôi đã ký phát hối phiếu cho các ngài với số tiền trong hóa đơn gửi kèm.

4. We enclose our invoice No… and, as requested, have drawn on you at 60 days for the amount due.

4. Chúng tôi gửi kèm hóa đơn số… và theo yêu cầu của các ngài đã ký phát hối phiếu định kỳ 60 ngày cho các ngài với số tiền đến hạn trả.

b. Ending

b. Kết thúc

1. Kindly accept the draft and return it as soon as you can.

1. Đề nghị các ngài chấp nhận hối phiếu và gửi lại càng sớm càng tốt.

2. Kindly honour draft when it is presented.

2. Đề nghị nhận thanh toán hối phiếu của chúng tôi khi nó được xuất trình.

3. We are quite willing to put your account on a documents against acceptance basis.

3. Chúng tôi sẵn sàng mở tài khoản trên cơ sở D/A.

4. We have instructed our bank to hand over the shipping documents against acceptance of our draft.

4. Chúng tôi đã chỉ thị cho ngân hàng của chúng tôi trao chứng từ vận tải đường biển để hối phiếu của chúng tôi được chấp nhận (trả tiền).

5. As soon as the credit is confirmed we will ship the goods.

5. Khi nào tín dụng thư được xác nhận chúng tôi sẽ giao hàng.

3. Buyer to Bank

3. Người Mua gửi Ngân hàng

a. Openings

a. Mở đầu

1. We enclose accepted bill drawn on us by… and should be glad to receive the shipping documents.

1. Chúng tôi xin gửi kèm hối phiếu đã được xác nhận do ngân hàng ký phát và chúng tôi sẽ vui mừng khi nhận được chứng từ vận tải đường biển.

2. Please accept the following drafts and pay them, and at maturity, debit them to our account.

2. Đề nghị các ngài chấp nhận và thanh toán những hối phiếu sau và đến hạn thanh toán, ghi nợ vào tài khoản của chúng tôi .

3. Please arrange with your correspondent bank in … to open a credit in favour of ….

3. Đề nghị các ngài thu xếp với ngân hàng vãng lai của các ngài ở… mở một tín dụng thư cho…. được hưởng.

b. Endings

b. Kết thúc

1. Please accept the above draft and debit your charges to your account.

1. Đề nghị các ngài chấp nhận hối phiếu trên và ghi nợ các khoản chi phí của các ngài vào tài khoản của chúng tôi.

2. Will you please state the amount of your charges for arranging the necessary credits.

2. Đề nghị các ngài cho biết số tiền chi phí để mở những tín dụng cần thiết.

4. Exporter to Bank

4. Người Xuất khẩu gửi Ngân hàng

a. Openings

a. Mở đầu

1. We enclose our sight draft on Messrs… and also the shipping documents.

1. Chúng tôi gửi kèm hối phiếu tức kỳ, ký phát cho ông…. và cả chứng từ vận tải đường biển.

2. Please surrender the enclosed documents to Messrs… when they accept our draft, also enclosed.

2. Đề nghị các ngài xuất trình các chứng từ gửi kèm cho các ông… khi họ chấp nhận hối phiếu của chúng tôi, cũng được gửi kèm ở đây.

3. Kindly instruct your correspondent in… to release the documents only on payment of your sight draft for…

3. Đề nghị các ngài chỉ thị cho ngân hàng vãng lai ở….. xuất trình các chứng từ chỉ khi thanh toán các hối phiếu tức kỳ của chúng tôi trị giá….

b. Endings

b. Kết thúc

1. We ask you to obtain acceptance of this draft before surrendering the shipping documents.

1. Chúng tôi đề nghị các ngài chấp nhận hối phiếu này trước khi xuất trình chứng từ vận tải đường biển.

2. Please present the bill for acceptance and then discount in for the credit of our account.

2. Đề nghị các ngài xuất trình hối phiếu để được chấp nhận và sau đó chiết khấu và ghi có vào tài khoản của chúng tôi.

3. Please present this acceptance for payment at maturity and credit us with the proceeds.

3. Đề nghị các ngài xuất trình xác nhận này để thanh toán khi đến hạn và ghi có tài khoản của chúng tôi, kể cả lãi.


1. Answer the following questions:

1. What is an international Banker’s Draft? Why is it said to be safer than a cheque? How can an importer pay by draft?

2. What is Banker’s Transfer? What is mail Transfer? What is Telex or Telegraphic Transfer?

3. Why are losses impossible when payment is conducted by Banker’s Transfer?

4. What is a Bill of Exchange?

5. Is there any difference between Banker’s Draft and a Bill of Exchange?

6. What is a sight draft?

7. What does a 30 d/s draft mean?

8. What is a dishonoured bill?

9. What is D/P? D/A?

10. Why is Letter of Credit widely used?

11. What must you do to open a letter of Credit?

2. Translate into English

1. Điều kiện các ngài đã báo hoàn toàn thoả đáng và do đó chúng tôi xin vui mừng gửi kèm thư này đơn hàng của chúng tôi số 44/TD. Chúng tôi xin báo là chúng tôi đã chỉ thị cho ngân hàng của chúng tôi, Ngân hàng New Zealand ở thành phố Takapuna, Wellington, để mở thư tín dụng không thể huỷ ngang trị giá 22,000 bảng Anh cho các ngài được hưởng.

2. Chứng từ vận tải đường biển kể cả vận đơn đường biển, hoá đơn và bảo hiểm đã chuyển cho Ngân hàng Easland Luân Đôn và sẽ được gửi đến Ngân hàng Ngoại thương Việt Nam, Hà Nội và Ngân hàng này sẽ thông báo cho các ngài.

3. Chúng tôi đã ghi nợ vào tài khoản của ngài, số tiền 84.000 đôla Mỹ cùng với phí của chúng tôi là 420 đôla Mỹ. Chứng từ hiện đang ở Ngân hàng chúng tôi và sẽ được trao cho các ngài khi có người đến nhận.

4. Như thoả thuận, chúng tôi đã ký phát vào Ngân hàng cổ phần Hàng Hải hối phiếu trả tiền 60 ngày kể từ khi chấp nhận với số tiền là 23.000 Bảng Anh kể cả hoa hồng, chiết khấu và các chí phí khác.

5. Chúng tôi đã tiến hành giao hàng cho khách hàng ở Hồng Kông và xin gửi kèm thư này chứng từ vận tải đường biển mà các ngài yêu cầu và hối phiếu của chúng tôi trị giá 40.000 Bảng Anh.

6. Các ngài có thể ký phát vào chúng tôi hối phiếu trị giá 16.000 Bảng Anh thanh toán sau 30 ngày khi các ngài cung cấp bằng chứng của việc đã giao hàng.

7. Đề nghị các ngài mở một thư tín dụng chứng từ không thể huỷ ngang được trị giá 35.000 Bảng Anh để công ty Delta Compueter Anh quốc được hưởng. Chúng tôi xin gửi kèm thư này đơn xin mở có các chi tiết có liên quan đã được điền đầy đủ.

8. Các ngài sẽ sớm nhận được hối phiếu trị giá 25.000 Bảng Anh và các chứng từ có liên quan của công ty xuất nhập khẩu Tân Bình. Đề nghị các ngài thay mặt chúng tôi chấp nhận hối phiếu đó và gửi cho chúng tôi các chứng từ và ghi nợ vào tài khoản của chúng tôi.

9. Ngân hàng đã gửi trả chúng tôi hối phiếu số 1761 có ghi “gửi lại cho người ký phát”.

Hối phiếu đến hạn thanh toán 20 tháng 5 và đã bị từ chối thanh toán. Chúng tôi sẽ để các ngài có thêm ba ngày nữa để xuất trình cho ngân hàng.

10. Đề nghị các ngài gửi hối phiếu kèm theo ký phát vào công ty JB. Products Pty và chứng từ cho Ngân hàng quốc gia Australia, số 632 Geoge Street, Sydney, Australia và đề nghị họ trao chứng từ khi chấp nhận.

3. Translate into Vietnamese

a. A letter from the Importer to the Exporter

Dear Sirs,

Please find enclosed a copy of the notification we received yesterday from the New Zealand Bank, Wellington, to open an irrevocable letter of credit in your favour for £22,000 which will be available until 10 June 20…

You may draw on us at 60 days against the credit as soon as you provide evidence of shipment. Would you include with draft the following document?

Bill of lading (six copies)

Commercial invoice CIF Wellington (four copies)

A.R. Insurance certificate for: £ 24,200

Your draft should include our discount commission which is five per cent, and our charges listed on the attached sheet.

Yours faithfully,

b. A Letter from the Exporter to the Importer

Dear Mr. James,

Thank you for replying to our enquiry of 19 April and letting us know that the C2000 computers, Cat. No. D16 are available

The terms you quoted are quite satisfactory, and you will find our order, 8815, enclosed. We have instructed our bank, New Zealand Bank, Takapuna Street, Wellington, to open an irrevocable letter of credit for £22,000 in your favour. This should cover CIF shipment and bank charges and the credit is valid until 10 June 20…

You will receive confirmation from our bank’s agents Eastland Bank Ltd., 401 Aldgate, London EC1, and you may draw on them at 60 days for the amount of the invoice. When submitting your draft, would you please enclose the following documents?

Bill of lading (6 copies)

Invoice CIF Wellington (4 copies)

A.R. Insurance Policy for £24.200

Please fax or email us as soon as you have arranged shipment.

Yours faithfully,

4. Letter writing

a. One of your customers in Hongkong has placed an order with your corporation for the equivalent of £10,000. Write to tell him that the order will be ready in four weeks time and ask him to open an irrevocable Letter of Credit for this amount against shipping documents.

b. Draft the reply from the customer in Hongkong stating an irrevocable L/C has been issued in your favour through the Bank of China (B.O.C), who will accept a 30 d/s draft upon presentation of shipping documents. specify the documents the customer would require.




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