Chapter 7 Terms of Payment Warm up For the seller , what can be considered as the end of a essful business? Terms of payment Way or method of making payment One of the most important steps Related with the benefits of both sides Thinking Can you name out some words, phrases and expressions and sentences related to terms of payment? How many kinds of payment are there? Objective Know the difference of the three payment terms Learn to express the terms of payment Learn to make out a draft Contents Modes of payment Introduction Case study Case 1 Case 2 Case 3 Case 4 Asking for easier payment Case 7 Case 8 Useful sentences Translation Bill of exchange Introduction Modes of payment: Remittance (to remit)汇付 Collection (reverse remit)托收 Letter of credit信用证 Remittance Definition Parties involved Varieties of remittance Definition Remittance is to deliver the payment of the goods to the seller by bank transfer. Delivered by whom? Delivered to whom? By what means? Parties involved Remitter (importer) 汇款人 payee (exporter) 收款人 remitting bank 汇出行 Usually in the country of importer receiving bank (paying bank) 汇入行(解付行 Usually in the country of exporter
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