{"id":83,"date":"2022-04-24T23:21:10","date_gmt":"2022-04-24T23:21:10","guid":{"rendered":"https:\/\/oes.edu.vn\/correspondence\/chapter\/chapter-7-payment-in-international-trade\/"},"modified":"2023-12-06T06:15:20","modified_gmt":"2023-12-06T06:15:20","slug":"chapter-7-payment-in-international-trade","status":"publish","type":"chapter","link":"https:\/\/oes.edu.vn\/correspondence\/chapter\/chapter-7-payment-in-international-trade\/","title":{"rendered":"Chapter 7: Payment in international trade"},"content":{"raw":"
\r\n

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.<\/p>\r\n

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.<\/p>\r\n

1. The Sales Letters<\/p>\r\n

This is a banker's cheque which the bank draws on itself and sells to the customers, who then sells it to his supplier.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

Example 1. Request for payment by banker's draft <\/strong><\/p>\r\n

Exporter's request<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

We enclose your statement for November, 20... and assume that you will send the outstanding balance of \u00a3 95.62 by banker's draft.<\/em><\/p>\r\n

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.<\/em><\/p>\r\n

Yours faithfully<\/em><\/p>\r\n

Importer's reply<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

Thank you for your letter of 6<\/em>th<\/em><\/sup> 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.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

d. Exporter sends draft<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

As requested in your letter of 12<\/em>th<\/em><\/sup> December, we have now drawn on you at 30 d\/s in the sum of \u00a395.62 and enclose our draft for acceptance. We shall present the draft for payment through our bankers and we recommend it to your protection.<\/em><\/p>\r\n

Yours faithfully<\/em>,<\/p>\r\n

2. Banker's Transfers<\/p>\r\n

(Mail, telex and Telegraphic Transfers)<\/em><\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

Example 2. Payment by telegraphic transfer<\/strong><\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

We have received your statement for the quarter ended 30<\/em>th<\/em><\/sup> September and find that it agrees with our books. As requested, we have instructed our bankers, the Midland Bank Ltd., 2 Deansgate, <\/em>Manchester<\/em>, to telegraph the sum of \u00a3 2,182.89 for the credit of your account at the Bank <\/em>Bazargani<\/em> Iran<\/em>, <\/em>Tehran<\/em>.<\/em><\/p>\r\n

This payment clears your account up to 31<\/em>st<\/em><\/sup> August. The unpaid balance of \u00a3623.42 for goods supplied during September will be telegraphed by our bankers on or before 15<\/em>th<\/em><\/sup> November.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

3. Bill of Exchange<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

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\".<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

Specimen Letters and form: Bill of Exchange Transactions<\/strong><\/p>\r\n

a. Letter Advising <\/em>Despatch<\/em> of a Bill: <\/em>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.<\/p>\r\n

Dear <\/em>Mrs<\/em> Haas,<\/em><\/p>\r\n

Order No. 8842<\/strong><\/p>\r\n

Thank you for your order which has now been completed and is being sent to you today.<\/em><\/p>\r\n

As agreed we have forwarded our bill, No. 1671 for \u00a3860.000 with the documents to your bank. <\/em>Nederlandsbank<\/em>, <\/em>Heldringstraat<\/em>, <\/em>Amsterdam<\/em>. The draft has been made out for payment 30 days, after sight, and the documents will be handed to you on acceptance.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

\"image\"\r\n\"image\"<\/p>\r\n

c. Letter Advising Dispatch of Sight Draft<\/p>\r\n

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.<\/p>\r\n

Dear Mrs. <\/em>Lindquvist<\/em><\/p>\r\n

We have made up your order, No. 8540, which is now a board the MS Leda which sails for <\/em>Copenhagen<\/em> tomorrow.<\/em><\/p>\r\n

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, <\/em>Garnes<\/em> Vej<\/em>, <\/em>Copenhagen<\/em>, and will be presented to you with the documents for payment.<\/em><\/p>\r\n

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.<\/em><\/p>\r\n

Yours faithfully, <\/em><\/p>\r\n

d. Request to a Bank to Forward a bill: Exporters sometimes ask their banks to forward bills to importers' banks<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

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.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

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.<\/p>\r\n

Dear Sirs,<\/p>\r\n

You will shortly be receiving a bill of exchange for \u00a32,163 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?<\/p>\r\n

Yours faithfully,<\/p>\r\n

f. Non-Payment of a Bill<\/p>\r\n

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.<\/p>\r\n

Dear Mrs. Haas,<\/em><\/p>\r\n

B\/E No. 1671<\/strong><\/p>\r\n

The above Bill for \u00a3860.000 was returned to us from our bank this morning marked \"Refer to Drawer\"<\/em><\/p>\r\n

The bill was due on the 5<\/em>th<\/em><\/sup> April and appears to have been <\/em>dishonoured<\/em>; 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.<\/em><\/p>\r\n

Yours sincerely,<\/em><\/p>\r\n

4. Banker's Commercial Credits<\/strong><\/p>\r\n

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:<\/p>\r\n

1. The importer asks his own bank to open a credit in favour of the exporter, usually on a specially printed application form.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

The following table is a summary of a commercial credit transactions covering a consignment from British Exporter to Vietnamese Importer.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n
\r\n

Credit issued in Hanoi<\/p>\r\n<\/td>\r\n

\r\n

Credit used in London<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

IMPORTER<\/p>\r\n

asks<\/p>\r\n

VIETCOMBANK HANOI<\/p>\r\n

to authorize<\/p>\r\n

BANK IN LONDON<\/p>\r\n

To pay<\/p>\r\n

EXPORTER<\/p>\r\n<\/td>\r\n

\r\n

EXPORTER<\/p>\r\n

\"sells\" documents to<\/p>\r\n

BANK IN LONDON<\/p>\r\n

which sends them to<\/p>\r\n

VIETCOMBANK HANOI<\/p>\r\n

which obtains<\/p>\r\n

payment from<\/p>\r\n

IMPORTER<\/p>\r\n<\/td>\r\n<\/tr>\r\n

<\/td>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

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.<\/p>\r\n

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.<\/p>\r\n

Example 1. Payments by L\/C<\/strong><\/p>\r\n

Foreign buyer's order<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

Our order No. 361<\/strong><\/p>\r\n

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.<\/em><\/p>\r\n

We have instructed <\/em>Vietcombank<\/em> to open a credit for \u00a3 11,500 in your <\/em>favour<\/em>, effective until 10<\/em>th<\/em><\/sup> 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:<\/em><\/p>\r\n

- Bill of Lading in duplicate<\/em><\/p>\r\n

- Invoice, CIF <\/em>Liverpool<\/em> in triplicate<\/em><\/p>\r\n

- Insurance policy for \u00a3 11,500<\/em><\/p>\r\n

The credit we have arranged is sufficient to cover invoice cost and any further charges.<\/em><\/p>\r\n

As soon as details of shipment are known, please notify us by air mail.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

Exporter's acknowledgment<\/p>\r\n

Dear Sirs, <\/em><\/p>\r\n

Your Order No. 361<\/p>\r\n

It is with pleasure that we acknowledge your order of 17th<\/sup> 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.<\/p>\r\n

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.<\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

Example 2. Documentary Credit - Stages in transaction<\/strong><\/p>\r\n

\u00ad\u00adBuyer Approaches Bank<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

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 \u00a3 20,000 each in <\/em>favour<\/em> 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.<\/em><\/p>\r\n

Will you please let us know on what terms you would be prepared to arrange the necessary <\/em>credits and to handle the shipping documents for us.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

Bank offers to provide credits<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

We thank you for your inquiry of 15<\/em>th<\/em><\/sup> 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.<\/em><\/p>\r\n

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.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

Buyer instructs bank<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

I have completed and enclose the form of application for a documentary credit received with your letter of 17<\/em>th<\/em><\/sup> March and shall be glad if you will arrange by telegram to open for our account with your bank irrevocable credits for \u00a32,000 a month in <\/em>favour<\/em> of... The credits to be valid until 30<\/em>th<\/em><\/sup> September next.<\/em><\/p>\r\n

To enable them to use the credits, the company must present the following documents:<\/em><\/p>\r\n

- Bill of lading in triplicate<\/em><\/p>\r\n

- One copy of the invoice<\/em><\/p>\r\n

- Certificate of policy of insurance<\/em><\/p>\r\n

- Certificate of origin<\/em><\/p>\r\n

and draw on your bank at 60 d\/s for each consignment for the value of about \u00a3 20,000.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

Bank agrees to open credit<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

As instructed in your letter of 20<\/em>th<\/em><\/sup> March we are arranging to open a documentary credit in your <\/em>favour<\/em> valid until 30<\/em>th<\/em><\/sup> 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.<\/em><\/p>\r\n

As soon as the credits are used we will debit your account with the amount notified to us as <\/em>having been drawn against them.<\/em><\/p>\r\n

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.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

Buyer notifies exporter<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

This is to inform you that we have opened irrevocable credits in your <\/em>favour<\/em> for \u00a3 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:<\/em><\/p>\r\n

- Bill of lading in triplicate<\/em><\/p>\r\n

- One copy of the invoice covering CIF...,<\/em><\/p>\r\n

- Certificate of policy of insurance<\/em><\/p>\r\n

- Certificate of origin<\/em><\/p>\r\n

We will expect your first consignment about the middle of August.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

Bank issues L\/C<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

On instruction from Messrs.... received through our office, we have opened monthly irrevocable credits for \u00a32,000 in your <\/em>favour<\/em>, valid until 30<\/em>th<\/em><\/sup> 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:<\/em><\/p>\r\n

- Bill of lading in triplicate<\/em><\/p>\r\n

- One copy of the invoice<\/em><\/p>\r\n

- Certificate of policy of insurance<\/em><\/p>\r\n

- Certificate of origin.<\/em><\/p>\r\n

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.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

g. Exporter presents documents<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

Referring to your advice of 30<\/em>th<\/em><\/sup> March, we enclose shipping documents for the first of the monthly consignments to....<\/em><\/p>\r\n

As required by them we have included all charges in our invoice which amounts to \u00a3 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...<\/em><\/p>\r\n

We thank you for your help in this matter.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

h. Bank debits buyers<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

As instructed by your letter of 20<\/em>th<\/em><\/sup> March, our bank has just accepted for your account a bill for \u00a3 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 \u00a3 44,30.<\/em><\/p>\r\n

The ship left .... on 22<\/em>nd<\/em><\/sup> April and is due to arrive in... on 2<\/em>nd<\/em><\/sup> May. The shipping documents for this consignment are now with us and we shall be glad if you will arrange to collect them.<\/em><\/p>\r\n

Yours faithfully, <\/em><\/p>\r\n

5 . Promissory notes<\/p>\r\n

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.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n
\r\n

No. 651<\/strong><\/p>\r\n

\u00a3 51,000<\/p>\r\n

London, 15th<\/sup> June, 20...<\/p>\r\n

Two months after date I promise to pay to H. Blake Esq., or order, the sum of fifty-one thousand pounds value received.<\/p>\r\n

(signed) H. Miller<\/p>\r\n

<\/p>\r\n<\/td>\r\n<\/tr>\r\n

<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

Example. Payment by Promissory Note<\/strong><\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

I am pleased to send you with this letter my promissory note for repayment at two months of your loan of \u00a3 10,000 on 14<\/em>th<\/em><\/sup> June, 20..., together with interest at 9% per annum, making a total of \u00a310,150.<\/em><\/p>\r\n

Payment will be made on presentation at the Lord Street Branch of the National Bank, <\/em>Bristol<\/em>.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

ENGLISH - VIETNAMESE PHRASES<\/p>\r\n\r\n

\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
\r\n

1. Buyer to Exporter <\/strong><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. <\/strong>Ng\u01b0\u1eddi<\/strong> mua<\/strong> g\u1eedi<\/strong> ng\u01b0\u1eddi<\/strong> b\u00e1n<\/strong><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

a. Openings<\/em><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

a. <\/em>M\u1edf<\/em> \u0111\u1ea7u<\/em><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

1. We have received your invoice No... and agree to accept your draft at 60 d\/s for the amount due...<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. Ch\u00fang t\u00f4i \u0111\u00e3 nh\u1eadn \u0111\u01b0\u1ee3c h\u00f3a \u0111\u01a1n c\u1ee7a c\u00e1c ng\u00e0i s\u1ed1 ..... v\u00e0 \u0111\u1ed3ng \u00fd ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 60 ng\u00e0y cho s\u1ed1 ti\u1ec1n \u0111\u1ebfn h\u1ea1n thanh to\u00e1n...<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

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.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. C\u1ea3m \u01a1n th\u01b0 c\u1ee7a c\u00e1c ng\u00e0i ng\u00e0y .... ch\u00fang t\u00f4i s\u1ebd vui m\u1eebng n\u1ebfu c\u00e1c ng\u00e0i \u0111\u1ed3ng \u00fd ph\u00e1t h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 30 ng\u00e0y cho ch\u00fang t\u00f4i, theo ph\u01b0\u01a1ng th\u1ee9c ch\u1ea5p nh\u1eadn \u0111\u1ed1i ch\u1ee9ng t\u1eeb (D\/A).<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

3. As requested in your letter of ... we have instructed the.... Bank to open a credit for .... in your favour.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

3. Theo y\u00eau c\u1ea7u trong th\u01b0 c\u1ee7a c\u00e1c ng\u00e0i ... ch\u00fang t\u00f4i \u0111\u00e3 ch\u1ec9 th\u1ecb cho ng\u00e2n h\u00e0ng .... m\u1edf t\u00edn d\u1ee5ng th\u01b0 tr\u1ecb gi\u00e1 ..... cho c\u00e1c ng\u00e0i \u0111\u01b0\u1ee3c h\u01b0\u1edfng.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

4. We are sorry to have to ask for them term of your bill dated ... to be extended for one month.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

4. Ch\u00fang t\u00f4i r\u1ea5t ti\u1ebfc ph\u1ea3i \u0111\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i gia h\u1ea1n h\u1ed1i phi\u1ebfu \u0111\u1ec1 ng\u00e0y .... th\u00eam m\u1ed9t th\u00e1ng.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

b. Ending<\/em><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

b. K\u1ebft <\/em>th\u00fac<\/em><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

1. Please let us know whether you are prepared to give us open account terms.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. \u0110\u1ec1 ngh\u1ecb ng\u00e0i cho ch\u00fang t\u00f4i bi\u1ebft li\u1ec7u ng\u00e0i c\u00f3 s\u1eb5n s\u00e0ng d\u00e0nh cho ch\u00fang t\u00f4i \u0111i\u1ec1u ki\u1ec7n thanh to\u00e1n theo ph\u01b0\u01a1ng ph\u00e1p ghi s\u1ed5 kh\u00f4ng.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

2. Please draw on us for the amount due and attach the shipping documents.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i k\u00fd ph\u00e1t h\u1ed1i phi\u1ebfu cho ch\u00fang t\u00f4i cho s\u1ed1 ti\u1ec1n \u0111\u1ebfn k\u1ef3 tr\u1ea3 v\u00e0 g\u1eedi k\u00e8m ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

3. We would like to pay by bill of exchange at 60d\/s and should be glad if you would agree to this.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

3. Ch\u00fang t\u00f4i mu\u1ed1n tr\u1ea3 b\u1eb1ng h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 60 ng\u00e0y v\u00e0 s\u1ebd vui m\u1eebng n\u1ebfu c\u00e1c ng\u00e0i \u0111\u1ed3ng \u00fd.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

4. As requested, we will arrange to open an irrevocable credit in your favour.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

4. Theo y\u00eau c\u1ea7u ch\u00fang t\u00f4i s\u1ebd thu x\u1ebfp m\u1edf t\u00edn d\u1ee5ng th\u01b0 kh\u00f4ng hu\u1ef7 ngang cho c\u00e1c ng\u00e0i \u0111\u01b0\u1ee3c h\u01b0\u1edfng.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

2. Exporter to Buyer<\/strong><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. <\/strong>Ng\u01b0\u1eddi<\/strong> xu\u1ea5t<\/strong> kh\u1ea9u<\/strong> g\u1eedi<\/strong> ng\u01b0\u1eddi<\/strong> Mua<\/strong><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

a. Openings<\/em><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

a. <\/em>M\u1edf<\/em> \u0111\u1ea7u<\/em><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

1. We have considered your letter of .... and we are pleased to grant the open account terms asked for.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. Ch\u00fang t\u00f4i \u0111\u00e3 nghi\u00ean c\u1ee9u th\u01b0 c\u1ee7a c\u00e1c ng\u00e0i ng\u00e0y... v\u00e0 vui m\u1eebng d\u00e0nh cho c\u00e1c ng\u00e0i \u0111i\u1ec1u ki\u1ec7n thanh to\u00e1n theo ph\u01b0\u01a1ng ph\u00e1p ghi s\u1ed5 c\u00e1c ng\u00e0i y\u00eau c\u1ea7u.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

2. As requested in your letter of... we have drawn on you for the sum of ... 60 d\/s.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. Theo y\u00eau c\u1ea7u trong th\u01b0 c\u1ee7a c\u00e1c ng\u00e0i ng\u00e0y..... ch\u00fang t\u00f4i \u0111\u00e3 k\u00fd ph\u00e1t h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 60 ng\u00e0y cho c\u00e1c ng\u00e0i v\u1edbi s\u1ed1 ti\u1ec1n l\u00e0...<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

3. As agreed in our earlier correspondence we have drawn on you for the amount of the invoice enclosed.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

3. Nh\u01b0 \u0111\u00e3 th\u1ecfa thu\u1eadn trong giao d\u1ecbch th\u01b0 t\u1eeb tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a ch\u00fang ta ch\u00fang t\u00f4i \u0111\u00e3 k\u00fd ph\u00e1t h\u1ed1i phi\u1ebfu cho c\u00e1c ng\u00e0i v\u1edbi s\u1ed1 ti\u1ec1n trong h\u00f3a \u0111\u01a1n g\u1eedi k\u00e8m.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

4. We enclose our invoice No... and, as requested, have drawn on you at 60 days for the amount due.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

4. Ch\u00fang t\u00f4i g\u1eedi k\u00e8m h\u00f3a \u0111\u01a1n s\u1ed1... v\u00e0 theo y\u00eau c\u1ea7u c\u1ee7a c\u00e1c ng\u00e0i \u0111\u00e3 k\u00fd ph\u00e1t h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 60 ng\u00e0y cho c\u00e1c ng\u00e0i v\u1edbi s\u1ed1 ti\u1ec1n \u0111\u1ebfn h\u1ea1n tr\u1ea3.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

b. Ending<\/em><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

b. K\u1ebft <\/em>th\u00fac<\/em><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

1. Kindly accept the draft and return it as soon as you can.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu v\u00e0 g\u1eedi l\u1ea1i c\u00e0ng s\u1edbm c\u00e0ng t\u1ed1t.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

2. Kindly honour draft when it is presented.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. \u0110\u1ec1 ngh\u1ecb nh\u1eadn thanh to\u00e1n h\u1ed1i phi\u1ebfu c\u1ee7a ch\u00fang t\u00f4i khi n\u00f3 \u0111\u01b0\u1ee3c xu\u1ea5t tr\u00ecnh.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

3. We are quite willing to put your account on a documents against acceptance basis.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

3. Ch\u00fang t\u00f4i s\u1eb5n s\u00e0ng m\u1edf t\u00e0i kho\u1ea3n tr\u00ean c\u01a1 s\u1edf D\/A.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

4. We have instructed our bank to hand over the shipping documents against acceptance of our draft.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

4. Ch\u00fang t\u00f4i \u0111\u00e3 ch\u1ec9 th\u1ecb cho ng\u00e2n h\u00e0ng c\u1ee7a ch\u00fang t\u00f4i trao ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n \u0111\u1ec3 h\u1ed1i phi\u1ebfu c\u1ee7a ch\u00fang t\u00f4i \u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn (tr\u1ea3 ti\u1ec1n).<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

5. As soon as the credit is confirmed we will ship the goods.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

5. Khi n\u00e0o t\u00edn d\u1ee5ng th\u01b0 \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn ch\u00fang t\u00f4i s\u1ebd giao h\u00e0ng.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

3. Buyer to Bank<\/strong><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

3. <\/strong>Ng\u01b0\u1eddi<\/strong> Mua<\/strong> g\u1eedi<\/strong> Ng\u00e2n<\/strong> h\u00e0ng<\/strong><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

a. Openings<\/em><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

a. <\/em>M\u1edf<\/em> \u0111\u1ea7u<\/em><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

1. We enclose accepted bill drawn on us by... and should be glad to receive the shipping documents.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. Ch\u00fang t\u00f4i xin g\u1eedi k\u00e8m h\u1ed1i phi\u1ebfu \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn do ng\u00e2n h\u00e0ng k\u00fd ph\u00e1t v\u00e0 ch\u00fang t\u00f4i s\u1ebd vui m\u1eebng khi nh\u1eadn \u0111\u01b0\u1ee3c ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

2. Please accept the following drafts and pay them, and at maturity, debit them to our account.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ea5p nh\u1eadn v\u00e0 thanh to\u00e1n nh\u1eefng h\u1ed1i phi\u1ebfu sau v\u00e0 \u0111\u1ebfn h\u1ea1n thanh to\u00e1n, ghi n\u1ee3 v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i .<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

3. Please arrange with your correspondent bank in ... to open a credit in favour of ....<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

3. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i thu x\u1ebfp v\u1edbi ng\u00e2n h\u00e0ng v\u00e3ng lai c\u1ee7a c\u00e1c ng\u00e0i \u1edf... m\u1edf m\u1ed9t t\u00edn d\u1ee5ng th\u01b0 cho.... \u0111\u01b0\u1ee3c h\u01b0\u1edfng.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

b. Endings<\/em><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

b. K\u1ebft <\/em>th\u00fac<\/em><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

1. Please accept the above draft and debit your charges to your account.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu tr\u00ean v\u00e0 ghi n\u1ee3 c\u00e1c kho\u1ea3n chi ph\u00ed c\u1ee7a c\u00e1c ng\u00e0i v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

2. Will you please state the amount of your charges for arranging the necessary credits.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i cho bi\u1ebft s\u1ed1 ti\u1ec1n chi ph\u00ed \u0111\u1ec3 m\u1edf nh\u1eefng t\u00edn d\u1ee5ng c\u1ea7n thi\u1ebft.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

4. Exporter to Bank<\/strong><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

4. <\/strong>Ng\u01b0\u1eddi<\/strong> Xu\u1ea5t<\/strong> kh\u1ea9u<\/strong> g\u1eedi<\/strong> Ng\u00e2n<\/strong> h\u00e0ng<\/strong><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

a. Openings<\/em><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

a. <\/em>M\u1edf<\/em> \u0111\u1ea7u<\/em><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

1. We enclose our sight draft on Messrs... and also the shipping documents.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. Ch\u00fang t\u00f4i g\u1eedi k\u00e8m h\u1ed1i phi\u1ebfu t\u1ee9c k\u1ef3, k\u00fd ph\u00e1t cho \u00f4ng.... v\u00e0 c\u1ea3 ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

2. Please surrender the enclosed documents to Messrs... when they accept our draft, also enclosed.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i xu\u1ea5t tr\u00ecnh c\u00e1c ch\u1ee9ng t\u1eeb g\u1eedi k\u00e8m cho c\u00e1c \u00f4ng... khi h\u1ecd ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu c\u1ee7a ch\u00fang t\u00f4i, c\u0169ng \u0111\u01b0\u1ee3c g\u1eedi k\u00e8m \u1edf \u0111\u00e2y.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

3. Kindly instruct your correspondent in... to release the documents only on payment of your sight draft for...<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

3. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ec9 th\u1ecb cho ng\u00e2n h\u00e0ng v\u00e3ng lai \u1edf..... xu\u1ea5t tr\u00ecnh c\u00e1c ch\u1ee9ng t\u1eeb ch\u1ec9 khi thanh to\u00e1n c\u00e1c h\u1ed1i phi\u1ebfu t\u1ee9c k\u1ef3 c\u1ee7a ch\u00fang t\u00f4i tr\u1ecb gi\u00e1....<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

b. Endings<\/em><\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

b. K\u1ebft <\/em>th\u00fac<\/em><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

1. We ask you to obtain acceptance of this draft before surrendering the shipping documents.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

1. Ch\u00fang t\u00f4i \u0111\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu n\u00e0y tr\u01b0\u1edbc khi xu\u1ea5t tr\u00ecnh ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

2. Please present the bill for acceptance and then discount in for the credit of our account.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i xu\u1ea5t tr\u00ecnh h\u1ed1i phi\u1ebfu \u0111\u1ec3 \u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn v\u00e0 sau \u0111\u00f3 chi\u1ebft kh\u1ea5u v\u00e0 ghi c\u00f3 v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

3. Please present this acceptance for payment at maturity and credit us with the proceeds.<\/p>\r\n<\/td>\r\n

\r\n

<\/p>\r\n<\/td>\r\n

\r\n

3. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i xu\u1ea5t tr\u00ecnh x\u00e1c nh\u1eadn n\u00e0y \u0111\u1ec3 thanh to\u00e1n khi \u0111\u1ebfn h\u1ea1n v\u00e0 ghi c\u00f3 t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i, k\u1ec3 c\u1ea3 l\u00e3i.<\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

<\/p>\r\n<\/td>\r\n<\/tr>\r\n

<\/td>\r\n<\/td>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n


<\/strong>EXERCISES<\/strong><\/p>\r\n

1. Answer the following questions:<\/em><\/strong><\/p>\r\n

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?<\/p>\r\n

2. What is Banker's Transfer? What is mail Transfer? What is Telex or Telegraphic Transfer?<\/p>\r\n

3. Why are losses impossible when payment is conducted by Banker's Transfer?<\/p>\r\n

4. What is a Bill of Exchange?<\/p>\r\n

5. Is there any difference between Banker's Draft and a Bill of Exchange?<\/p>\r\n

6. What is a sight draft?<\/p>\r\n

7. What does a 30 d\/s draft mean?<\/p>\r\n

8. What is a dishonoured bill?<\/p>\r\n

9. What is D\/P? D\/A?<\/p>\r\n

10. Why is Letter of Credit widely used?<\/p>\r\n

11. What must you do to open a letter of Credit?<\/p>\r\n

2. Translate into English<\/em><\/strong><\/p>\r\n

1. \u0110i\u1ec1u ki\u1ec7n c\u00e1c ng\u00e0i \u0111\u00e3 b\u00e1o ho\u00e0n to\u00e0n tho\u1ea3 \u0111\u00e1ng v\u00e0 do \u0111\u00f3 ch\u00fang t\u00f4i xin vui m\u1eebng g\u1eedi k\u00e8m th\u01b0 n\u00e0y \u0111\u01a1n h\u00e0ng c\u1ee7a ch\u00fang t\u00f4i s\u1ed1 44\/TD. Ch\u00fang t\u00f4i xin b\u00e1o l\u00e0 ch\u00fang t\u00f4i \u0111\u00e3 ch\u1ec9 th\u1ecb cho ng\u00e2n h\u00e0ng c\u1ee7a ch\u00fang t\u00f4i, Ng\u00e2n h\u00e0ng New Zealand \u1edf th\u00e0nh ph\u1ed1 Takapuna, Wellington, \u0111\u1ec3 m\u1edf th\u01b0 t\u00edn d\u1ee5ng kh\u00f4ng th\u1ec3 hu\u1ef7 ngang tr\u1ecb gi\u00e1 22,000 b\u1ea3ng Anh cho c\u00e1c ng\u00e0i \u0111\u01b0\u1ee3c h\u01b0\u1edfng.<\/p>\r\n

2. Ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n k\u1ec3 c\u1ea3 v\u1eadn \u0111\u01a1n \u0111\u01b0\u1eddng bi\u1ec3n, ho\u00e1 \u0111\u01a1n v\u00e0 b\u1ea3o hi\u1ec3m \u0111\u00e3 chuy\u1ec3n cho Ng\u00e2n h\u00e0ng Easland Lu\u00e2n \u0110\u00f4n v\u00e0 s\u1ebd \u0111\u01b0\u1ee3c g\u1eedi \u0111\u1ebfn Ng\u00e2n h\u00e0ng Ngo\u1ea1i th\u01b0\u01a1ng Vi\u1ec7t Nam, H\u00e0 N\u1ed9i v\u00e0 Ng\u00e2n h\u00e0ng n\u00e0y s\u1ebd th\u00f4ng b\u00e1o cho c\u00e1c ng\u00e0i.<\/p>\r\n

3. Ch\u00fang t\u00f4i \u0111\u00e3 ghi n\u1ee3 v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ng\u00e0i, s\u1ed1 ti\u1ec1n 84.000 \u0111\u00f4la M\u1ef9 c\u00f9ng v\u1edbi ph\u00ed c\u1ee7a ch\u00fang t\u00f4i l\u00e0 420 \u0111\u00f4la M\u1ef9. Ch\u1ee9ng t\u1eeb hi\u1ec7n \u0111ang \u1edf Ng\u00e2n h\u00e0ng ch\u00fang t\u00f4i v\u00e0 s\u1ebd \u0111\u01b0\u1ee3c trao cho c\u00e1c ng\u00e0i khi c\u00f3 ng\u01b0\u1eddi \u0111\u1ebfn nh\u1eadn.<\/p>\r\n

4. Nh\u01b0 tho\u1ea3 thu\u1eadn, ch\u00fang t\u00f4i \u0111\u00e3 k\u00fd ph\u00e1t v\u00e0o Ng\u00e2n h\u00e0ng c\u1ed5 ph\u1ea7n H\u00e0ng H\u1ea3i h\u1ed1i phi\u1ebfu tr\u1ea3 ti\u1ec1n 60 ng\u00e0y k\u1ec3 t\u1eeb khi ch\u1ea5p nh\u1eadn v\u1edbi s\u1ed1 ti\u1ec1n l\u00e0 23.000 B\u1ea3ng Anh k\u1ec3 c\u1ea3 hoa h\u1ed3ng, chi\u1ebft kh\u1ea5u v\u00e0 c\u00e1c ch\u00ed ph\u00ed kh\u00e1c.<\/p>\r\n

5. Ch\u00fang t\u00f4i \u0111\u00e3 ti\u1ebfn h\u00e0nh giao h\u00e0ng cho kh\u00e1ch h\u00e0ng \u1edf H\u1ed3ng K\u00f4ng v\u00e0 xin g\u1eedi k\u00e8m th\u01b0 n\u00e0y ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n m\u00e0 c\u00e1c ng\u00e0i y\u00eau c\u1ea7u v\u00e0 h\u1ed1i phi\u1ebfu c\u1ee7a ch\u00fang t\u00f4i tr\u1ecb gi\u00e1 40.000 B\u1ea3ng Anh.<\/p>\r\n

6. C\u00e1c ng\u00e0i c\u00f3 th\u1ec3 k\u00fd ph\u00e1t v\u00e0o ch\u00fang t\u00f4i h\u1ed1i phi\u1ebfu tr\u1ecb gi\u00e1 16.000 B\u1ea3ng Anh thanh to\u00e1n sau 30 ng\u00e0y khi c\u00e1c ng\u00e0i cung c\u1ea5p b\u1eb1ng ch\u1ee9ng c\u1ee7a vi\u1ec7c \u0111\u00e3 giao h\u00e0ng.<\/p>\r\n

7. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i m\u1edf m\u1ed9t th\u01b0 t\u00edn d\u1ee5ng ch\u1ee9ng t\u1eeb kh\u00f4ng th\u1ec3 hu\u1ef7 ngang \u0111\u01b0\u1ee3c tr\u1ecb gi\u00e1 35.000 B\u1ea3ng Anh \u0111\u1ec3 c\u00f4ng ty Delta Compueter Anh qu\u1ed1c \u0111\u01b0\u1ee3c h\u01b0\u1edfng. Ch\u00fang t\u00f4i xin g\u1eedi k\u00e8m th\u01b0 n\u00e0y \u0111\u01a1n xin m\u1edf c\u00f3 c\u00e1c chi ti\u1ebft c\u00f3 li\u00ean quan \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111i\u1ec1n \u0111\u1ea7y \u0111\u1ee7.<\/p>\r\n

8. C\u00e1c ng\u00e0i s\u1ebd s\u1edbm nh\u1eadn \u0111\u01b0\u1ee3c h\u1ed1i phi\u1ebfu tr\u1ecb gi\u00e1 25.000 B\u1ea3ng Anh v\u00e0 c\u00e1c ch\u1ee9ng t\u1eeb c\u00f3 li\u00ean quan c\u1ee7a c\u00f4ng ty xu\u1ea5t nh\u1eadp kh\u1ea9u T\u00e2n B\u00ecnh. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i thay m\u1eb7t ch\u00fang t\u00f4i ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu \u0111\u00f3 v\u00e0 g\u1eedi cho ch\u00fang t\u00f4i c\u00e1c ch\u1ee9ng t\u1eeb v\u00e0 ghi n\u1ee3 v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i.<\/p>\r\n

9. Ng\u00e2n h\u00e0ng \u0111\u00e3 g\u1eedi tr\u1ea3 ch\u00fang t\u00f4i h\u1ed1i phi\u1ebfu s\u1ed1 1761 c\u00f3 ghi \"g\u1eedi l\u1ea1i cho ng\u01b0\u1eddi k\u00fd ph\u00e1t\".<\/p>\r\n

H\u1ed1i phi\u1ebfu \u0111\u1ebfn h\u1ea1n thanh to\u00e1n 20 th\u00e1ng 5 v\u00e0 \u0111\u00e3 b\u1ecb t\u1eeb ch\u1ed1i thanh to\u00e1n. Ch\u00fang t\u00f4i s\u1ebd \u0111\u1ec3 c\u00e1c ng\u00e0i c\u00f3 th\u00eam ba ng\u00e0y n\u1eefa \u0111\u1ec3 xu\u1ea5t tr\u00ecnh cho ng\u00e2n h\u00e0ng.<\/p>\r\n

10. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i g\u1eedi h\u1ed1i phi\u1ebfu k\u00e8m theo k\u00fd ph\u00e1t v\u00e0o c\u00f4ng ty JB. Products Pty v\u00e0 ch\u1ee9ng t\u1eeb cho Ng\u00e2n h\u00e0ng qu\u1ed1c gia Australia, s\u1ed1 632 Geoge Street, Sydney, Australia v\u00e0 \u0111\u1ec1 ngh\u1ecb h\u1ecd trao ch\u1ee9ng t\u1eeb khi ch\u1ea5p nh\u1eadn.<\/p>\r\n

3. Translate into Vietnamese<\/em><\/strong><\/p>\r\n

a. A letter from the Importer to the Exporter<\/p>\r\n

Dear Sirs,<\/em><\/p>\r\n

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 <\/em>favour<\/em> for \u00a322,000 which will be available until 10 June 20...<\/em><\/p>\r\n

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?<\/em><\/p>\r\n

Bill of lading (six copies)<\/em><\/p>\r\n

Commercial invoice CIF <\/em>Wellington<\/em> (four copies)<\/em><\/p>\r\n

A.R. Insurance certificate for: \u00a3 24,200<\/em><\/p>\r\n

Your draft should include our discount commission which is five per cent, and our charges listed on the attached sheet.<\/em><\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

b. A Letter from the Exporter to the Importer<\/p>\r\n

Dear Mr. James,<\/p>\r\n

Thank you for replying to our enquiry of 19 April and letting us know that the C2000 computers, Cat. No. D16 are available<\/p>\r\n

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 \u00a322,000 in your favour. This should cover CIF shipment and bank charges and the credit is valid until 10 June 20...<\/p>\r\n

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?<\/p>\r\n

Bill of lading (6 copies)<\/p>\r\n

Invoice CIF Wellington (4 copies)<\/p>\r\n

A.R. Insurance Policy for \u00a324.200<\/p>\r\n

Please fax or email us as soon as you have arranged shipment.<\/p>\r\n

Yours faithfully,<\/em><\/p>\r\n

4. Letter writing<\/em><\/strong><\/p>\r\n

a. One of your customers in Hongkong has placed an order with your corporation for the equivalent of \u00a310,000. 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.<\/p>\r\n

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.<\/p>\r\n

**********<\/p>\r\n

<\/p>\r\n\r\n<\/div>","rendered":"

\n

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.<\/p>\n

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.<\/p>\n

1. The Sales Letters<\/p>\n

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

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.<\/p>\n

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.<\/p>\n

Example 1. Request for payment by banker’s draft <\/strong><\/p>\n

Exporter’s request<\/p>\n

Dear Sirs,<\/em><\/p>\n

We enclose your statement for November, 20… and assume that you will send the outstanding balance of \u00a3 95.62 by banker’s draft.<\/em><\/p>\n

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.<\/em><\/p>\n

Yours faithfully<\/em><\/p>\n

Importer’s reply<\/p>\n

Dear Sirs,<\/em><\/p>\n

Thank you for your letter of 6<\/em>th<\/em><\/sup> 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.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

d. Exporter sends draft<\/p>\n

Dear Sirs,<\/em><\/p>\n

As requested in your letter of 12<\/em>th<\/em><\/sup> December, we have now drawn on you at 30 d\/s in the sum of \u00a395.62 and enclose our draft for acceptance. We shall present the draft for payment through our bankers and we recommend it to your protection.<\/em><\/p>\n

Yours faithfully<\/em>,<\/p>\n

2. Banker’s Transfers<\/p>\n

(Mail, telex and Telegraphic Transfers)<\/em><\/p>\n

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.<\/p>\n

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.<\/p>\n

Example 2. Payment by telegraphic transfer<\/strong><\/p>\n

Dear Sirs,<\/em><\/p>\n

We have received your statement for the quarter ended 30<\/em>th<\/em><\/sup> September and find that it agrees with our books. As requested, we have instructed our bankers, the Midland Bank Ltd., 2 Deansgate, <\/em>Manchester<\/em>, to telegraph the sum of \u00a3 2,182.89 for the credit of your account at the Bank <\/em>Bazargani<\/em> Iran<\/em>, <\/em>Tehran<\/em>.<\/em><\/p>\n

This payment clears your account up to 31<\/em>st<\/em><\/sup> August. The unpaid balance of \u00a3623.42 for goods supplied during September will be telegraphed by our bankers on or before 15<\/em>th<\/em><\/sup> November.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

3. Bill of Exchange<\/p>\n

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.<\/p>\n

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.<\/p>\n

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”.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

Specimen Letters and form: Bill of Exchange Transactions<\/strong><\/p>\n

a. Letter Advising <\/em>Despatch<\/em> of a Bill: <\/em>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.<\/p>\n

Dear <\/em>Mrs<\/em> Haas,<\/em><\/p>\n

Order No. 8842<\/strong><\/p>\n

Thank you for your order which has now been completed and is being sent to you today.<\/em><\/p>\n

As agreed we have forwarded our bill, No. 1671 for \u00a3860.000 with the documents to your bank. <\/em>Nederlandsbank<\/em>, <\/em>Heldringstraat<\/em>, <\/em>Amsterdam<\/em>. The draft has been made out for payment 30 days, after sight, and the documents will be handed to you on acceptance.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

\"image\"
\n\"image\"<\/p>\n

c. Letter Advising Dispatch of Sight Draft<\/p>\n

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.<\/p>\n

Dear Mrs. <\/em>Lindquvist<\/em><\/p>\n

We have made up your order, No. 8540, which is now a board the MS Leda which sails for <\/em>Copenhagen<\/em> tomorrow.<\/em><\/p>\n

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, <\/em>Garnes<\/em> Vej<\/em>, <\/em>Copenhagen<\/em>, and will be presented to you with the documents for payment.<\/em><\/p>\n

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.<\/em><\/p>\n

Yours faithfully, <\/em><\/p>\n

d. Request to a Bank to Forward a bill: Exporters sometimes ask their banks to forward bills to importers’ banks<\/p>\n

Dear Sirs,<\/em><\/p>\n

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.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

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.<\/p>\n

Dear Sirs,<\/p>\n

You will shortly be receiving a bill of exchange for \u00a32,163 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?<\/p>\n

Yours faithfully,<\/p>\n

f. Non-Payment of a Bill<\/p>\n

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.<\/p>\n

Dear Mrs. Haas,<\/em><\/p>\n

B\/E No. 1671<\/strong><\/p>\n

The above Bill for \u00a3860.000 was returned to us from our bank this morning marked “Refer to Drawer”<\/em><\/p>\n

The bill was due on the 5<\/em>th<\/em><\/sup> April and appears to have been <\/em>dishonoured<\/em>; 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.<\/em><\/p>\n

Yours sincerely,<\/em><\/p>\n

4. Banker’s Commercial Credits<\/strong><\/p>\n

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:<\/p>\n

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

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

The following table is a summary of a commercial credit transactions covering a consignment from British Exporter to Vietnamese Importer.<\/p>\n\n\n\n\n\n
\n

Credit issued in Hanoi<\/p>\n<\/td>\n

\n

Credit used in London<\/p>\n<\/td>\n<\/tr>\n

\n

IMPORTER<\/p>\n

asks<\/p>\n

VIETCOMBANK HANOI<\/p>\n

to authorize<\/p>\n

BANK IN LONDON<\/p>\n

To pay<\/p>\n

EXPORTER<\/p>\n<\/td>\n

\n

EXPORTER<\/p>\n

“sells” documents to<\/p>\n

BANK IN LONDON<\/p>\n

which sends them to<\/p>\n

VIETCOMBANK HANOI<\/p>\n

which obtains<\/p>\n

payment from<\/p>\n

IMPORTER<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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.<\/p>\n

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.<\/p>\n

Example 1. Payments by L\/C<\/strong><\/p>\n

Foreign buyer’s order<\/p>\n

Dear Sirs,<\/em><\/p>\n

Our order No. 361<\/strong><\/p>\n

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.<\/em><\/p>\n

We have instructed <\/em>Vietcombank<\/em> to open a credit for \u00a3 11,500 in your <\/em>favour<\/em>, effective until 10<\/em>th<\/em><\/sup> 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:<\/em><\/p>\n

– Bill of Lading in duplicate<\/em><\/p>\n

– Invoice, CIF <\/em>Liverpool<\/em> in triplicate<\/em><\/p>\n

– Insurance policy for \u00a3 11,500<\/em><\/p>\n

The credit we have arranged is sufficient to cover invoice cost and any further charges.<\/em><\/p>\n

As soon as details of shipment are known, please notify us by air mail.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

Exporter’s acknowledgment<\/p>\n

Dear Sirs, <\/em><\/p>\n

Your Order No. 361<\/p>\n

It is with pleasure that we acknowledge your order of 17th<\/sup> 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.<\/p>\n

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.<\/p>\n

Yours faithfully,<\/em><\/p>\n

Example 2. Documentary Credit – Stages in transaction<\/strong><\/p>\n

\u00ad\u00adBuyer Approaches Bank<\/p>\n

Dear Sirs,<\/em><\/p>\n

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 \u00a3 20,000 each in <\/em>favour<\/em> 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.<\/em><\/p>\n

Will you please let us know on what terms you would be prepared to arrange the necessary <\/em>credits and to handle the shipping documents for us.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

Bank offers to provide credits<\/p>\n

Dear Sirs,<\/em><\/p>\n

We thank you for your inquiry of 15<\/em>th<\/em><\/sup> 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.<\/em><\/p>\n

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.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

Buyer instructs bank<\/p>\n

Dear Sirs,<\/em><\/p>\n

I have completed and enclose the form of application for a documentary credit received with your letter of 17<\/em>th<\/em><\/sup> March and shall be glad if you will arrange by telegram to open for our account with your bank irrevocable credits for \u00a32,000 a month in <\/em>favour<\/em> of… The credits to be valid until 30<\/em>th<\/em><\/sup> September next.<\/em><\/p>\n

To enable them to use the credits, the company must present the following documents:<\/em><\/p>\n

– Bill of lading in triplicate<\/em><\/p>\n

– One copy of the invoice<\/em><\/p>\n

– Certificate of policy of insurance<\/em><\/p>\n

– Certificate of origin<\/em><\/p>\n

and draw on your bank at 60 d\/s for each consignment for the value of about \u00a3 20,000.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

Bank agrees to open credit<\/p>\n

Dear Sirs,<\/em><\/p>\n

As instructed in your letter of 20<\/em>th<\/em><\/sup> March we are arranging to open a documentary credit in your <\/em>favour<\/em> valid until 30<\/em>th<\/em><\/sup> 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.<\/em><\/p>\n

As soon as the credits are used we will debit your account with the amount notified to us as <\/em>having been drawn against them.<\/em><\/p>\n

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.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

Buyer notifies exporter<\/p>\n

Dear Sirs,<\/em><\/p>\n

This is to inform you that we have opened irrevocable credits in your <\/em>favour<\/em> for \u00a3 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:<\/em><\/p>\n

– Bill of lading in triplicate<\/em><\/p>\n

– One copy of the invoice covering CIF…,<\/em><\/p>\n

– Certificate of policy of insurance<\/em><\/p>\n

– Certificate of origin<\/em><\/p>\n

We will expect your first consignment about the middle of August.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

Bank issues L\/C<\/p>\n

Dear Sirs,<\/em><\/p>\n

On instruction from Messrs…. received through our office, we have opened monthly irrevocable credits for \u00a32,000 in your <\/em>favour<\/em>, valid until 30<\/em>th<\/em><\/sup> 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:<\/em><\/p>\n

– Bill of lading in triplicate<\/em><\/p>\n

– One copy of the invoice<\/em><\/p>\n

– Certificate of policy of insurance<\/em><\/p>\n

– Certificate of origin.<\/em><\/p>\n

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.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

g. Exporter presents documents<\/p>\n

Dear Sirs,<\/em><\/p>\n

Referring to your advice of 30<\/em>th<\/em><\/sup> March, we enclose shipping documents for the first of the monthly consignments to….<\/em><\/p>\n

As required by them we have included all charges in our invoice which amounts to \u00a3 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…<\/em><\/p>\n

We thank you for your help in this matter.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

h. Bank debits buyers<\/p>\n

Dear Sirs,<\/em><\/p>\n

As instructed by your letter of 20<\/em>th<\/em><\/sup> March, our bank has just accepted for your account a bill for \u00a3 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 \u00a3 44,30.<\/em><\/p>\n

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

Yours faithfully, <\/em><\/p>\n

5 . Promissory notes<\/p>\n

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.<\/p>\n\n\n\n\n
\n

No. 651<\/strong><\/p>\n

\u00a3 51,000<\/p>\n

London, 15th<\/sup> June, 20…<\/p>\n

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

(signed) H. Miller<\/p>\n

\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Example. Payment by Promissory Note<\/strong><\/p>\n

Dear Sirs,<\/em><\/p>\n

I am pleased to send you with this letter my promissory note for repayment at two months of your loan of \u00a3 10,000 on 14<\/em>th<\/em><\/sup> June, 20…, together with interest at 9% per annum, making a total of \u00a310,150.<\/em><\/p>\n

Payment will be made on presentation at the Lord Street Branch of the National Bank, <\/em>Bristol<\/em>.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

ENGLISH – VIETNAMESE PHRASES<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

1. Buyer to Exporter <\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. <\/strong>Ng\u01b0\u1eddi<\/strong> mua<\/strong> g\u1eedi<\/strong> ng\u01b0\u1eddi<\/strong> b\u00e1n<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

a. Openings<\/em><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

a. <\/em>M\u1edf<\/em> \u0111\u1ea7u<\/em><\/p>\n<\/td>\n<\/tr>\n

\n

1. We have received your invoice No… and agree to accept your draft at 60 d\/s for the amount due…<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. Ch\u00fang t\u00f4i \u0111\u00e3 nh\u1eadn \u0111\u01b0\u1ee3c h\u00f3a \u0111\u01a1n c\u1ee7a c\u00e1c ng\u00e0i s\u1ed1 ….. v\u00e0 \u0111\u1ed3ng \u00fd ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 60 ng\u00e0y cho s\u1ed1 ti\u1ec1n \u0111\u1ebfn h\u1ea1n thanh to\u00e1n…<\/p>\n<\/td>\n<\/tr>\n

\n

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.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. C\u1ea3m \u01a1n th\u01b0 c\u1ee7a c\u00e1c ng\u00e0i ng\u00e0y …. ch\u00fang t\u00f4i s\u1ebd vui m\u1eebng n\u1ebfu c\u00e1c ng\u00e0i \u0111\u1ed3ng \u00fd ph\u00e1t h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 30 ng\u00e0y cho ch\u00fang t\u00f4i, theo ph\u01b0\u01a1ng th\u1ee9c ch\u1ea5p nh\u1eadn \u0111\u1ed1i ch\u1ee9ng t\u1eeb (D\/A).<\/p>\n<\/td>\n<\/tr>\n

\n

3. As requested in your letter of … we have instructed the…. Bank to open a credit for …. in your favour.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

3. Theo y\u00eau c\u1ea7u trong th\u01b0 c\u1ee7a c\u00e1c ng\u00e0i … ch\u00fang t\u00f4i \u0111\u00e3 ch\u1ec9 th\u1ecb cho ng\u00e2n h\u00e0ng …. m\u1edf t\u00edn d\u1ee5ng th\u01b0 tr\u1ecb gi\u00e1 ….. cho c\u00e1c ng\u00e0i \u0111\u01b0\u1ee3c h\u01b0\u1edfng.<\/p>\n<\/td>\n<\/tr>\n

\n

4. We are sorry to have to ask for them term of your bill dated … to be extended for one month.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

4. Ch\u00fang t\u00f4i r\u1ea5t ti\u1ebfc ph\u1ea3i \u0111\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i gia h\u1ea1n h\u1ed1i phi\u1ebfu \u0111\u1ec1 ng\u00e0y …. th\u00eam m\u1ed9t th\u00e1ng.<\/p>\n<\/td>\n<\/tr>\n

\n

b. Ending<\/em><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

b. K\u1ebft <\/em>th\u00fac<\/em><\/p>\n<\/td>\n<\/tr>\n

\n

1. Please let us know whether you are prepared to give us open account terms.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. \u0110\u1ec1 ngh\u1ecb ng\u00e0i cho ch\u00fang t\u00f4i bi\u1ebft li\u1ec7u ng\u00e0i c\u00f3 s\u1eb5n s\u00e0ng d\u00e0nh cho ch\u00fang t\u00f4i \u0111i\u1ec1u ki\u1ec7n thanh to\u00e1n theo ph\u01b0\u01a1ng ph\u00e1p ghi s\u1ed5 kh\u00f4ng.<\/p>\n<\/td>\n<\/tr>\n

\n

2. Please draw on us for the amount due and attach the shipping documents.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i k\u00fd ph\u00e1t h\u1ed1i phi\u1ebfu cho ch\u00fang t\u00f4i cho s\u1ed1 ti\u1ec1n \u0111\u1ebfn k\u1ef3 tr\u1ea3 v\u00e0 g\u1eedi k\u00e8m ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n.<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\n<\/td>\n

\n

3. Ch\u00fang t\u00f4i mu\u1ed1n tr\u1ea3 b\u1eb1ng h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 60 ng\u00e0y v\u00e0 s\u1ebd vui m\u1eebng n\u1ebfu c\u00e1c ng\u00e0i \u0111\u1ed3ng \u00fd.<\/p>\n<\/td>\n<\/tr>\n

\n

4. As requested, we will arrange to open an irrevocable credit in your favour.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

4. Theo y\u00eau c\u1ea7u ch\u00fang t\u00f4i s\u1ebd thu x\u1ebfp m\u1edf t\u00edn d\u1ee5ng th\u01b0 kh\u00f4ng hu\u1ef7 ngang cho c\u00e1c ng\u00e0i \u0111\u01b0\u1ee3c h\u01b0\u1edfng.<\/p>\n<\/td>\n<\/tr>\n

\n

2. Exporter to Buyer<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. <\/strong>Ng\u01b0\u1eddi<\/strong> xu\u1ea5t<\/strong> kh\u1ea9u<\/strong> g\u1eedi<\/strong> ng\u01b0\u1eddi<\/strong> Mua<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

a. Openings<\/em><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

a. <\/em>M\u1edf<\/em> \u0111\u1ea7u<\/em><\/p>\n<\/td>\n<\/tr>\n

\n

1. We have considered your letter of …. and we are pleased to grant the open account terms asked for.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. Ch\u00fang t\u00f4i \u0111\u00e3 nghi\u00ean c\u1ee9u th\u01b0 c\u1ee7a c\u00e1c ng\u00e0i ng\u00e0y… v\u00e0 vui m\u1eebng d\u00e0nh cho c\u00e1c ng\u00e0i \u0111i\u1ec1u ki\u1ec7n thanh to\u00e1n theo ph\u01b0\u01a1ng ph\u00e1p ghi s\u1ed5 c\u00e1c ng\u00e0i y\u00eau c\u1ea7u.<\/p>\n<\/td>\n<\/tr>\n

\n

2. As requested in your letter of… we have drawn on you for the sum of … 60 d\/s.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. Theo y\u00eau c\u1ea7u trong th\u01b0 c\u1ee7a c\u00e1c ng\u00e0i ng\u00e0y….. ch\u00fang t\u00f4i \u0111\u00e3 k\u00fd ph\u00e1t h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 60 ng\u00e0y cho c\u00e1c ng\u00e0i v\u1edbi s\u1ed1 ti\u1ec1n l\u00e0…<\/p>\n<\/td>\n<\/tr>\n

\n

3. As agreed in our earlier correspondence we have drawn on you for the amount of the invoice enclosed.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

3. Nh\u01b0 \u0111\u00e3 th\u1ecfa thu\u1eadn trong giao d\u1ecbch th\u01b0 t\u1eeb tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a ch\u00fang ta ch\u00fang t\u00f4i \u0111\u00e3 k\u00fd ph\u00e1t h\u1ed1i phi\u1ebfu cho c\u00e1c ng\u00e0i v\u1edbi s\u1ed1 ti\u1ec1n trong h\u00f3a \u0111\u01a1n g\u1eedi k\u00e8m.<\/p>\n<\/td>\n<\/tr>\n

\n

4. We enclose our invoice No… and, as requested, have drawn on you at 60 days for the amount due.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

4. Ch\u00fang t\u00f4i g\u1eedi k\u00e8m h\u00f3a \u0111\u01a1n s\u1ed1… v\u00e0 theo y\u00eau c\u1ea7u c\u1ee7a c\u00e1c ng\u00e0i \u0111\u00e3 k\u00fd ph\u00e1t h\u1ed1i phi\u1ebfu \u0111\u1ecbnh k\u1ef3 60 ng\u00e0y cho c\u00e1c ng\u00e0i v\u1edbi s\u1ed1 ti\u1ec1n \u0111\u1ebfn h\u1ea1n tr\u1ea3.<\/p>\n<\/td>\n<\/tr>\n

\n

b. Ending<\/em><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

b. K\u1ebft <\/em>th\u00fac<\/em><\/p>\n<\/td>\n<\/tr>\n

\n

1. Kindly accept the draft and return it as soon as you can.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu v\u00e0 g\u1eedi l\u1ea1i c\u00e0ng s\u1edbm c\u00e0ng t\u1ed1t.<\/p>\n<\/td>\n<\/tr>\n

\n

2. Kindly honour draft when it is presented.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. \u0110\u1ec1 ngh\u1ecb nh\u1eadn thanh to\u00e1n h\u1ed1i phi\u1ebfu c\u1ee7a ch\u00fang t\u00f4i khi n\u00f3 \u0111\u01b0\u1ee3c xu\u1ea5t tr\u00ecnh.<\/p>\n<\/td>\n<\/tr>\n

\n

3. We are quite willing to put your account on a documents against acceptance basis.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

3. Ch\u00fang t\u00f4i s\u1eb5n s\u00e0ng m\u1edf t\u00e0i kho\u1ea3n tr\u00ean c\u01a1 s\u1edf D\/A.<\/p>\n<\/td>\n<\/tr>\n

\n

4. We have instructed our bank to hand over the shipping documents against acceptance of our draft.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

4. Ch\u00fang t\u00f4i \u0111\u00e3 ch\u1ec9 th\u1ecb cho ng\u00e2n h\u00e0ng c\u1ee7a ch\u00fang t\u00f4i trao ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n \u0111\u1ec3 h\u1ed1i phi\u1ebfu c\u1ee7a ch\u00fang t\u00f4i \u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn (tr\u1ea3 ti\u1ec1n).<\/p>\n<\/td>\n<\/tr>\n

\n

5. As soon as the credit is confirmed we will ship the goods.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

5. Khi n\u00e0o t\u00edn d\u1ee5ng th\u01b0 \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn ch\u00fang t\u00f4i s\u1ebd giao h\u00e0ng.<\/p>\n<\/td>\n<\/tr>\n

\n

3. Buyer to Bank<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

3. <\/strong>Ng\u01b0\u1eddi<\/strong> Mua<\/strong> g\u1eedi<\/strong> Ng\u00e2n<\/strong> h\u00e0ng<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

a. Openings<\/em><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

a. <\/em>M\u1edf<\/em> \u0111\u1ea7u<\/em><\/p>\n<\/td>\n<\/tr>\n

\n

1. We enclose accepted bill drawn on us by… and should be glad to receive the shipping documents.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. Ch\u00fang t\u00f4i xin g\u1eedi k\u00e8m h\u1ed1i phi\u1ebfu \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn do ng\u00e2n h\u00e0ng k\u00fd ph\u00e1t v\u00e0 ch\u00fang t\u00f4i s\u1ebd vui m\u1eebng khi nh\u1eadn \u0111\u01b0\u1ee3c ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n.<\/p>\n<\/td>\n<\/tr>\n

\n

2. Please accept the following drafts and pay them, and at maturity, debit them to our account.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ea5p nh\u1eadn v\u00e0 thanh to\u00e1n nh\u1eefng h\u1ed1i phi\u1ebfu sau v\u00e0 \u0111\u1ebfn h\u1ea1n thanh to\u00e1n, ghi n\u1ee3 v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i .<\/p>\n<\/td>\n<\/tr>\n

\n

3. Please arrange with your correspondent bank in … to open a credit in favour of ….<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

3. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i thu x\u1ebfp v\u1edbi ng\u00e2n h\u00e0ng v\u00e3ng lai c\u1ee7a c\u00e1c ng\u00e0i \u1edf… m\u1edf m\u1ed9t t\u00edn d\u1ee5ng th\u01b0 cho…. \u0111\u01b0\u1ee3c h\u01b0\u1edfng.<\/p>\n<\/td>\n<\/tr>\n

\n

b. Endings<\/em><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

b. K\u1ebft <\/em>th\u00fac<\/em><\/p>\n<\/td>\n<\/tr>\n

\n

1. Please accept the above draft and debit your charges to your account.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu tr\u00ean v\u00e0 ghi n\u1ee3 c\u00e1c kho\u1ea3n chi ph\u00ed c\u1ee7a c\u00e1c ng\u00e0i v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i.<\/p>\n<\/td>\n<\/tr>\n

\n

2. Will you please state the amount of your charges for arranging the necessary credits.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i cho bi\u1ebft s\u1ed1 ti\u1ec1n chi ph\u00ed \u0111\u1ec3 m\u1edf nh\u1eefng t\u00edn d\u1ee5ng c\u1ea7n thi\u1ebft.<\/p>\n<\/td>\n<\/tr>\n

\n

4. Exporter to Bank<\/strong><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

4. <\/strong>Ng\u01b0\u1eddi<\/strong> Xu\u1ea5t<\/strong> kh\u1ea9u<\/strong> g\u1eedi<\/strong> Ng\u00e2n<\/strong> h\u00e0ng<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

a. Openings<\/em><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

a. <\/em>M\u1edf<\/em> \u0111\u1ea7u<\/em><\/p>\n<\/td>\n<\/tr>\n

\n

1. We enclose our sight draft on Messrs… and also the shipping documents.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. Ch\u00fang t\u00f4i g\u1eedi k\u00e8m h\u1ed1i phi\u1ebfu t\u1ee9c k\u1ef3, k\u00fd ph\u00e1t cho \u00f4ng…. v\u00e0 c\u1ea3 ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n.<\/p>\n<\/td>\n<\/tr>\n

\n

2. Please surrender the enclosed documents to Messrs… when they accept our draft, also enclosed.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i xu\u1ea5t tr\u00ecnh c\u00e1c ch\u1ee9ng t\u1eeb g\u1eedi k\u00e8m cho c\u00e1c \u00f4ng… khi h\u1ecd ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu c\u1ee7a ch\u00fang t\u00f4i, c\u0169ng \u0111\u01b0\u1ee3c g\u1eedi k\u00e8m \u1edf \u0111\u00e2y.<\/p>\n<\/td>\n<\/tr>\n

\n

3. Kindly instruct your correspondent in… to release the documents only on payment of your sight draft for…<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

3. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ec9 th\u1ecb cho ng\u00e2n h\u00e0ng v\u00e3ng lai \u1edf….. xu\u1ea5t tr\u00ecnh c\u00e1c ch\u1ee9ng t\u1eeb ch\u1ec9 khi thanh to\u00e1n c\u00e1c h\u1ed1i phi\u1ebfu t\u1ee9c k\u1ef3 c\u1ee7a ch\u00fang t\u00f4i tr\u1ecb gi\u00e1….<\/p>\n<\/td>\n<\/tr>\n

\n

b. Endings<\/em><\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

b. K\u1ebft <\/em>th\u00fac<\/em><\/p>\n<\/td>\n<\/tr>\n

\n

1. We ask you to obtain acceptance of this draft before surrendering the shipping documents.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

1. Ch\u00fang t\u00f4i \u0111\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu n\u00e0y tr\u01b0\u1edbc khi xu\u1ea5t tr\u00ecnh ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n.<\/p>\n<\/td>\n<\/tr>\n

\n

2. Please present the bill for acceptance and then discount in for the credit of our account.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

2. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i xu\u1ea5t tr\u00ecnh h\u1ed1i phi\u1ebfu \u0111\u1ec3 \u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn v\u00e0 sau \u0111\u00f3 chi\u1ebft kh\u1ea5u v\u00e0 ghi c\u00f3 v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i.<\/p>\n<\/td>\n<\/tr>\n

\n

3. Please present this acceptance for payment at maturity and credit us with the proceeds.<\/p>\n<\/td>\n

\n

\n<\/td>\n

\n

3. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i xu\u1ea5t tr\u00ecnh x\u00e1c nh\u1eadn n\u00e0y \u0111\u1ec3 thanh to\u00e1n khi \u0111\u1ebfn h\u1ea1n v\u00e0 ghi c\u00f3 t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i, k\u1ec3 c\u1ea3 l\u00e3i.<\/p>\n<\/td>\n<\/tr>\n

\n

\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n


<\/strong>EXERCISES<\/strong><\/p>\n

1. Answer the following questions:<\/em><\/strong><\/p>\n

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?<\/p>\n

2. What is Banker’s Transfer? What is mail Transfer? What is Telex or Telegraphic Transfer?<\/p>\n

3. Why are losses impossible when payment is conducted by Banker’s Transfer?<\/p>\n

4. What is a Bill of Exchange?<\/p>\n

5. Is there any difference between Banker’s Draft and a Bill of Exchange?<\/p>\n

6. What is a sight draft?<\/p>\n

7. What does a 30 d\/s draft mean?<\/p>\n

8. What is a dishonoured bill?<\/p>\n

9. What is D\/P? D\/A?<\/p>\n

10. Why is Letter of Credit widely used?<\/p>\n

11. What must you do to open a letter of Credit?<\/p>\n

2. Translate into English<\/em><\/strong><\/p>\n

1. \u0110i\u1ec1u ki\u1ec7n c\u00e1c ng\u00e0i \u0111\u00e3 b\u00e1o ho\u00e0n to\u00e0n tho\u1ea3 \u0111\u00e1ng v\u00e0 do \u0111\u00f3 ch\u00fang t\u00f4i xin vui m\u1eebng g\u1eedi k\u00e8m th\u01b0 n\u00e0y \u0111\u01a1n h\u00e0ng c\u1ee7a ch\u00fang t\u00f4i s\u1ed1 44\/TD. Ch\u00fang t\u00f4i xin b\u00e1o l\u00e0 ch\u00fang t\u00f4i \u0111\u00e3 ch\u1ec9 th\u1ecb cho ng\u00e2n h\u00e0ng c\u1ee7a ch\u00fang t\u00f4i, Ng\u00e2n h\u00e0ng New Zealand \u1edf th\u00e0nh ph\u1ed1 Takapuna, Wellington, \u0111\u1ec3 m\u1edf th\u01b0 t\u00edn d\u1ee5ng kh\u00f4ng th\u1ec3 hu\u1ef7 ngang tr\u1ecb gi\u00e1 22,000 b\u1ea3ng Anh cho c\u00e1c ng\u00e0i \u0111\u01b0\u1ee3c h\u01b0\u1edfng.<\/p>\n

2. Ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n k\u1ec3 c\u1ea3 v\u1eadn \u0111\u01a1n \u0111\u01b0\u1eddng bi\u1ec3n, ho\u00e1 \u0111\u01a1n v\u00e0 b\u1ea3o hi\u1ec3m \u0111\u00e3 chuy\u1ec3n cho Ng\u00e2n h\u00e0ng Easland Lu\u00e2n \u0110\u00f4n v\u00e0 s\u1ebd \u0111\u01b0\u1ee3c g\u1eedi \u0111\u1ebfn Ng\u00e2n h\u00e0ng Ngo\u1ea1i th\u01b0\u01a1ng Vi\u1ec7t Nam, H\u00e0 N\u1ed9i v\u00e0 Ng\u00e2n h\u00e0ng n\u00e0y s\u1ebd th\u00f4ng b\u00e1o cho c\u00e1c ng\u00e0i.<\/p>\n

3. Ch\u00fang t\u00f4i \u0111\u00e3 ghi n\u1ee3 v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ng\u00e0i, s\u1ed1 ti\u1ec1n 84.000 \u0111\u00f4la M\u1ef9 c\u00f9ng v\u1edbi ph\u00ed c\u1ee7a ch\u00fang t\u00f4i l\u00e0 420 \u0111\u00f4la M\u1ef9. Ch\u1ee9ng t\u1eeb hi\u1ec7n \u0111ang \u1edf Ng\u00e2n h\u00e0ng ch\u00fang t\u00f4i v\u00e0 s\u1ebd \u0111\u01b0\u1ee3c trao cho c\u00e1c ng\u00e0i khi c\u00f3 ng\u01b0\u1eddi \u0111\u1ebfn nh\u1eadn.<\/p>\n

4. Nh\u01b0 tho\u1ea3 thu\u1eadn, ch\u00fang t\u00f4i \u0111\u00e3 k\u00fd ph\u00e1t v\u00e0o Ng\u00e2n h\u00e0ng c\u1ed5 ph\u1ea7n H\u00e0ng H\u1ea3i h\u1ed1i phi\u1ebfu tr\u1ea3 ti\u1ec1n 60 ng\u00e0y k\u1ec3 t\u1eeb khi ch\u1ea5p nh\u1eadn v\u1edbi s\u1ed1 ti\u1ec1n l\u00e0 23.000 B\u1ea3ng Anh k\u1ec3 c\u1ea3 hoa h\u1ed3ng, chi\u1ebft kh\u1ea5u v\u00e0 c\u00e1c ch\u00ed ph\u00ed kh\u00e1c.<\/p>\n

5. Ch\u00fang t\u00f4i \u0111\u00e3 ti\u1ebfn h\u00e0nh giao h\u00e0ng cho kh\u00e1ch h\u00e0ng \u1edf H\u1ed3ng K\u00f4ng v\u00e0 xin g\u1eedi k\u00e8m th\u01b0 n\u00e0y ch\u1ee9ng t\u1eeb v\u1eadn t\u1ea3i \u0111\u01b0\u1eddng bi\u1ec3n m\u00e0 c\u00e1c ng\u00e0i y\u00eau c\u1ea7u v\u00e0 h\u1ed1i phi\u1ebfu c\u1ee7a ch\u00fang t\u00f4i tr\u1ecb gi\u00e1 40.000 B\u1ea3ng Anh.<\/p>\n

6. C\u00e1c ng\u00e0i c\u00f3 th\u1ec3 k\u00fd ph\u00e1t v\u00e0o ch\u00fang t\u00f4i h\u1ed1i phi\u1ebfu tr\u1ecb gi\u00e1 16.000 B\u1ea3ng Anh thanh to\u00e1n sau 30 ng\u00e0y khi c\u00e1c ng\u00e0i cung c\u1ea5p b\u1eb1ng ch\u1ee9ng c\u1ee7a vi\u1ec7c \u0111\u00e3 giao h\u00e0ng.<\/p>\n

7. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i m\u1edf m\u1ed9t th\u01b0 t\u00edn d\u1ee5ng ch\u1ee9ng t\u1eeb kh\u00f4ng th\u1ec3 hu\u1ef7 ngang \u0111\u01b0\u1ee3c tr\u1ecb gi\u00e1 35.000 B\u1ea3ng Anh \u0111\u1ec3 c\u00f4ng ty Delta Compueter Anh qu\u1ed1c \u0111\u01b0\u1ee3c h\u01b0\u1edfng. Ch\u00fang t\u00f4i xin g\u1eedi k\u00e8m th\u01b0 n\u00e0y \u0111\u01a1n xin m\u1edf c\u00f3 c\u00e1c chi ti\u1ebft c\u00f3 li\u00ean quan \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111i\u1ec1n \u0111\u1ea7y \u0111\u1ee7.<\/p>\n

8. C\u00e1c ng\u00e0i s\u1ebd s\u1edbm nh\u1eadn \u0111\u01b0\u1ee3c h\u1ed1i phi\u1ebfu tr\u1ecb gi\u00e1 25.000 B\u1ea3ng Anh v\u00e0 c\u00e1c ch\u1ee9ng t\u1eeb c\u00f3 li\u00ean quan c\u1ee7a c\u00f4ng ty xu\u1ea5t nh\u1eadp kh\u1ea9u T\u00e2n B\u00ecnh. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i thay m\u1eb7t ch\u00fang t\u00f4i ch\u1ea5p nh\u1eadn h\u1ed1i phi\u1ebfu \u0111\u00f3 v\u00e0 g\u1eedi cho ch\u00fang t\u00f4i c\u00e1c ch\u1ee9ng t\u1eeb v\u00e0 ghi n\u1ee3 v\u00e0o t\u00e0i kho\u1ea3n c\u1ee7a ch\u00fang t\u00f4i.<\/p>\n

9. Ng\u00e2n h\u00e0ng \u0111\u00e3 g\u1eedi tr\u1ea3 ch\u00fang t\u00f4i h\u1ed1i phi\u1ebfu s\u1ed1 1761 c\u00f3 ghi “g\u1eedi l\u1ea1i cho ng\u01b0\u1eddi k\u00fd ph\u00e1t”.<\/p>\n

H\u1ed1i phi\u1ebfu \u0111\u1ebfn h\u1ea1n thanh to\u00e1n 20 th\u00e1ng 5 v\u00e0 \u0111\u00e3 b\u1ecb t\u1eeb ch\u1ed1i thanh to\u00e1n. Ch\u00fang t\u00f4i s\u1ebd \u0111\u1ec3 c\u00e1c ng\u00e0i c\u00f3 th\u00eam ba ng\u00e0y n\u1eefa \u0111\u1ec3 xu\u1ea5t tr\u00ecnh cho ng\u00e2n h\u00e0ng.<\/p>\n

10. \u0110\u1ec1 ngh\u1ecb c\u00e1c ng\u00e0i g\u1eedi h\u1ed1i phi\u1ebfu k\u00e8m theo k\u00fd ph\u00e1t v\u00e0o c\u00f4ng ty JB. Products Pty v\u00e0 ch\u1ee9ng t\u1eeb cho Ng\u00e2n h\u00e0ng qu\u1ed1c gia Australia, s\u1ed1 632 Geoge Street, Sydney, Australia v\u00e0 \u0111\u1ec1 ngh\u1ecb h\u1ecd trao ch\u1ee9ng t\u1eeb khi ch\u1ea5p nh\u1eadn.<\/p>\n

3. Translate into Vietnamese<\/em><\/strong><\/p>\n

a. A letter from the Importer to the Exporter<\/p>\n

Dear Sirs,<\/em><\/p>\n

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 <\/em>favour<\/em> for \u00a322,000 which will be available until 10 June 20…<\/em><\/p>\n

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?<\/em><\/p>\n

Bill of lading (six copies)<\/em><\/p>\n

Commercial invoice CIF <\/em>Wellington<\/em> (four copies)<\/em><\/p>\n

A.R. Insurance certificate for: \u00a3 24,200<\/em><\/p>\n

Your draft should include our discount commission which is five per cent, and our charges listed on the attached sheet.<\/em><\/p>\n

Yours faithfully,<\/em><\/p>\n

b. A Letter from the Exporter to the Importer<\/p>\n

Dear Mr. James,<\/p>\n

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

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 \u00a322,000 in your favour. This should cover CIF shipment and bank charges and the credit is valid until 10 June 20…<\/p>\n

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?<\/p>\n

Bill of lading (6 copies)<\/p>\n

Invoice CIF Wellington (4 copies)<\/p>\n

A.R. Insurance Policy for \u00a324.200<\/p>\n

Please fax or email us as soon as you have arranged shipment.<\/p>\n

Yours faithfully,<\/em><\/p>\n

4. Letter writing<\/em><\/strong><\/p>\n

a. One of your customers in Hongkong has placed an order with your corporation for the equivalent of \u00a310,000. 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.<\/p>\n

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.<\/p>\n

**********<\/p>\n

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