Chapter6DocumentaryCollections跟单托收文档格式.docx

1、TENORThe tenor is the credit term of the draft. It can be at sight （in a sight draft） or after sight or after date （in a term draft）. CASE OF NEED . The case of need is the party in the importers country named by the exporter who may assist in obtaining payment or acceptance of a draft or who may be

2、 empowered by the exporter to act fully on his/her behalf-waiving of protest, allowing a discount, etc. Whether the case of need is for guidance or accept their instructions, put an X in the appropriate box. DOCUMENTS AGAINST PAYMENTIn the documents against payment （D/P）-documents on payment （DOP or

3、 D/P）-the documents attached to the draft （bill） drawn by the exporter and needed to obtain goods are deliverable to the importer only after he/she has paid the draft. The documents against payment （D/P） are applied to a sight draft. DOCUMENTS AGAINST ACCEPTANCEIn the documents against acceptance （D

4、/A）-documents on acceptance （DOA or D/A）-the documents attached to the draft （bill） drawn by the exporter and needed to obtain goods are deliverable to the importer only after he/she has accepted the draft for payment later. The documents against acceptance （D/A） apply to a term draft.REMIT PROCEEDS

5、 . When the payment is received by the collecting bank, it remits the proceeds to the remitting bank. The remitting bank then credit the account of the exporter, less any applicable charges.PROTEST and DO NOT PROTESTThe protest is the legal action to be undertaken by the collecting bank, at the inst

6、ructions of the exporter, in case the importer does not pay a sight draft, or does not accept a term draft, or does not pay an accepted draft on maturity. In practice, the protest usually is required by the exporter and it is made within three （3） working days after the presentation or maturity date

7、. In certain countries, failure to protest may cause the exporter to lose the legal rights against the importer. In cases where the instruction is do not protest, such an instruction may encourage inaction or deferred payment by the importer. In some countries, particularly in the West, protest agai

8、nst the importer may spoil his/her credit standing. Hence, the importer is encouraged to act promptly if protest is instructed by the exporter.COLLECT INTEREST . The interest charge, if any, normally is agreed upon between the exporter and importer. It is either built into the export price or collec

9、ted separately. Under certain pre-arranged credit terms, a discount may be allowed on the early payment of a term draft.COLLECT ALL YOUR BANK CHARGES .In practice, the collecting bank may not collect some of their charges despite the fact that instructions to collect all their charges is given._ DAY

10、S AFTER _ OF THIS SOLE OF EXCHANGEThe SOLE OF EXCHANGE stands for the sole bill of exchange, popularly called the sola bill, which is a draft with only one copy issued.In a sight draft, enter the word “sight” in the space AFTER _ and leave the _ DAYS blank or put dashes （-） in it, for example, DAYS

11、AFTER sight or-In a term draft, enter the number of days in the and the word “sight” in the （if draft is after sight）, for example,90Or, enter the word “date” or “B/L date” （bill of lading date） or other wordings in the （if draft is after date）, for example, 180 date 150 B/L date 6.2 Bills of Exchan

12、ge （Drafts） 汇票The bill of exchange, commonly referred to as the draft or the bill, is an unconditional order in writing, signed and addressed by the drawer （the exporter usually） to the drawee （the confirming bank or the issuing bank usually）, requiring the drawee to pay the drawer a certain sum of

13、money at sight or at a fixed or determinable future time.The draft is widely used in international trade, most frequently in the payment against a letter of credit （L/C）. It is also used in the open account without any L/C involved.Sample Instrument:DraftThe “No.” （number） in the above sample draft

14、may be used for the exporters reference number. Blank drafts are available at the paying bank.1. First of Exchange （Second Unpaid） and Second of Exchange （First Unpaid）In practice, it is not uncommon that two drafts are drawn on the drawee bank in a letter of credit （L/C） to ensure that at least one

15、 draft reaches the drawee when they are dispatched separately. The issuance of more than one draft in a letter of credit follows the same logic as in the issuance of bill of lading in more than one original. At times even three drafts may be drawn on the drawee bank. This practice was not uncommon f

16、ormerly in certain countries.In contrast, normally one draft （sola bill） is issued in a documentary collection where the draft is drawn on the importer.The sample draft shown above is the first draft, marked “First of Exchange （Second Unpaid）” and the number “1”. The second draft, if any is issued,

17、is marked “Second of Exchange （First Unpaid）” and the number “2”. Some drafts may not be numbered “1” or “2”.2. The Letters of Undertaking Instead of the Drafts In certain exporting countries, the government may levy a heavy tax on drafts. In such a circumstance, the exporter may request the importe

18、r to specify in his/her letter of credit （L/C） application that “No drafts be issued”. When the documents are presented to the negotiating bank, the bank issues a letter of undertaking indicating when and where the money will be paid, instead of accepting a draft drawn by the exporter.3. Avalised Te

19、rm Drafts The word “aval” in French means endorsement. A term draft accepted by the importer does not guarantee payment on maturity, hence it is not readily accepted for discounting or as collateral for a loan. The exporter may arrange to have the accepted draft to be avalised by the importers bank-

20、the bank adds its endorsement as a guarantee of payment. The term draft can be readily discounted, thus providing the exporter with immediate funds.6.2.1 Sight Drafts versus Term Drafts 即期和延付汇票1. Sight DraftThe sight draft is most commonly used in international trade. In a sight draft, the payment i

21、s on demand or on presentation of the negotiation documents to the paying bank or the importer. In practice, the bank may pay within three （3） working days （not instantly） after the receipt and review of the negotiation documents and if they are in order, that is, the documents comply exactly with t

22、he letter of credit （L/C） stipulations. In certain countries where the business relationship between the exporter and the bank is well established, the bank may pay the exporter a few hours after the receipt of the negotiation documents that are in order.In the sample L/C it was stipulated “availabl

23、e by your draft（s） drawn at sight”, so as the payment is by sight draft（s）.2. Term DraftThe term draft-time draft -is used in a deferred payment arrangement. The payment is on the maturity date determinable in accordance with the stipulations of the letter of credit （L/C）. The maturity date can be a

24、t a stated period after sight or after date: after sight -after the draft is presented to the drawee for acceptance, for example, “at 90 days sight” and “at 120 days after sight”. after date -after a specific date, for example, “at 150 days B/L date” （i.e., the maturity date is 150 days after the da

25、te of the bill of lading） and “at 180 days after date” （i.e., the maturity date is 180 days after the date of the draft）.Unless the maturity date is tied to a specific date, the importer may refuse to accept the draft until the goods have arrived, so such a deferred acceptance can extend the maturit

26、y date.In other words, in a term draft the exporter extends the credit to the importer.If a term draft is accepted by the accepting bank （in the case of draft drawn on the confirming bank or the issuing bank or other bank stipulated in the letter of credit）, such draft becomes what is known as banke

27、rs acceptance. The exporter may hold the bankers acceptance pending payment by the bank on the maturity date or discounts it with the bank, thus provides the exporter with immediate funds.If a term draft is accepted by the importer （in the case of draft drawn on the importer） when it is presented to him/her by the collecting （presenting） bank, such draft becomes what is known as trade acceptance. In practice, the collecting bank usually holds the trade acceptance pending payment by the importer on the maturity date and advis