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(TACN 7) UNIT 2: FINANCING INTERNATIONAL TRADE, Từ vựng
Trả trước (Cash…
-
Từ vựng
- Trả trước (Cash in advance)
- Thư tín dụng (Letter of credit/ Documentary letter of credit/ Documentary credit)
2.1 Bên yêu cầu mở LC (LC appliant)
2.2 Bên thụ hưởng (LC beneficiary)
2.3. NH phát hành/ thông báo/ xác nhận (Issuing/ Advising/ Confirming + bank)
- Nhờ thu (Bill for collection)
- Nhờ thu trơn (Clean collection)
- Nhờ thu kèm chứng từ (Documentary bill for collection)
- Chấp nhận trả chứng từ ( Document against acceptance)
- Thanh toán trả chứng từ ( Document against payment)
- Chấp phiếu NH (Banker's acceptance)
- Hợp lý, đúng (sau khi ktra): Correct/ In order
/ Satisfy+,,,
- Nhận/ Thu tiền thanh toán: Receive/ Collect payment
- Bên bao thanh toán: Factor
- Tài khoản phải thu/ phải trả: Accounts + receivable/ payable
- Nhu cầu thanh khoản trong ngắn hạn: Short-term liquidity needs
- Khách hàng phân tán về mặt địa lý: Customers geographically dispersed
Pros and cons
of "Cash in advance"
- Pros
- Eliminates risk of non payment and receive a payment before shipment
- Cons
- Ex: may lose customers to competitors
- Im: Payment does not guarantee the shipment of the goods
Pros and cons
of "Letter of credit"
- Pros
Ex:
- Eliminate credit risk in case the order is changed or canceled
- Avoid the risk of pre-shipment
Im:
- Assure shipment
- Inspect documents
- Allow better sales term
- Incur relatively low cost of finance
- Make a easy cash recovery if discrepancies arise
- Cons
Process
- The applicant (the buyer) completes a contract with the seller.
- The buyer fills in a letter of credit application form and sends it to his or her bank for approval.
- The issuing bank (the buyer’s bank) approves the application and sends the letter of credit details to the seller’s bank (the advising bank).
- The advising bank authenticates the letter of credit and sends the beneficiary (the seller) the details. The seller examines the details of the letter of credit to make sure that he or she can meet all the conditions. If necessary, he or she contacts the buyer and asks for amendments to be made.
- When the seller (beneficiary) is satisfied with the conditions of the letter of credit, he or she ships the goods.
- The seller presents the documents to his or her bankers (the advising bank). The advising bank examines these documents against the details of the letter of credit and the International Chamber of Commerce’s rules.
- If the documents are in order, the advising bank sends them to the issuing bank for payment or acceptance. If the details are not correct, the advising bank tells the seller and waits for corrected documents or further instructions.
- The issuing bank (the buyer’s bank) examines the documents from the advising bank. If they are in order, the bank releases the documents to the buyer, pays the money promised or agrees to pay it in the future, and advises the buyer about the payment. (If the details are not correct, the issuing bank contacts the buyer for authorization** to pay or accept the documents.) The buyer collects the goods.**
- The issuing bank advises the advising (or confirming) bank that the payment has been made.
- The advising/confirming bank pays the seller and notifies him or her that the payment has been made.
Lưu ý thêm:
- Hối phiếu, séc đều có 3 bên: drawer chỉ đạo drawee trả tiền cho payee
- LC 3 bên: applicant yêu cầu issuing bank phát hành, nếu có cần xác nhận thì liên hệ thêm confirming bank, rồi chuyển tiền qua advising bank, ngân hàng của beneficiary
- Nhờ thu kèm chứng từ: NH bên người bán mói không trả ngay documentation cho người mua
- LC: Issuing bank sẽ gửi bộ chứng từ cho người mua luôn vì đã có hợp đồng ràng buộc khi mở LC
- LC: NH thông báo gửi bộ chứng từ cho NH phát hành yêu cầu thanh toán hoặc chấp nhận trả sau
Pros and Cons of Bill for Collection:- Pros:
- lessen the work for both parties of the deal by transfering the payment collection duty to their bank
- make the payment process less complicated and costly compared to using a LC
- Cons:
- high costs to return the unpaid -for goods
- the risk of nonpayment still presents
- Im default on the D/A terms, Ex would have to collect the payment themselves, or take legal action
SO SÁNH
- Chấp phiếu NH (NH hứa thanh toán sau hối phiếu, Ngắn hạn)
- Chiết khấu giấy tờ có giá (NH thanh toán ngay hối phiếu, Ngắn hạn, Có truy đòi hoặc ko)
- Bao thanh toán (NH hoặc tổ chức tài chính thanh toán ngay khoản phải thu, Ngắn hạn, Có truy đòi hoặc ko, Người bán ít xk hoặc Người mua rải rác về mặt địa lý)
- Bao thanh toán miễn truy đòi (NH hoặc tổ chức tài chính thanh toán khoản phải thu, Trung hoặc Dài hạn, Miễn truy đòi, Hàng hóa chủ yếu là nguyên liệu thô hoặc máy móc để sản xuất)