- •3.2 Consular commission and exequatur
- •The department of state of the united states of america to all to whom these presents shall come, greeting:
- •Assignments
- •V. Define the following terms in English consulting the Glossary of diplomatic Terms if necessary.
- •Exequatur
- •Procedure for Appointment of Head of Consulate
- •Порядок назначения главы консульства
- •3.3. Letters of credence and letters of recall
- •Presidium of the supreme soviet
- •Assignments
- •Immunity
- •3.4. Full powers
- •Elizabeth the second,
- •President of the united states of america,
- •Assignments
- •Полномочия
- •Unit seven
- •1 Global economic cooperation
- •United nations convention on contracts for тнe international sale of goods Preamble
- •Chapter II. General Provisions
- •On trade and economic cooperation
- •Initial programme for proposed cooperation on uk and us nuclear clean-up programmes
- •Article 1 scope
- •Article 2
- •Implementation
- •Article 3 general provisions
- •Article 4 commencement; termination
- •Protocol on the trade delegation of the union of soviet socialist republics in the hashemite kingdom of jordan
- •Arbitration Agreement
- •United Nations Convention on Contracts for the International Sale of Goods (Vienna, 1980)
- •United nations convention on contracts for the international sale of goods
- •Конвенция организации объединенных наций о договорах международной купли-продажи товаров
- •Establishing the European Community Free Movement of Goods
- •В. Торговые последствия
- •2 Foreign trade
- •Independent contractor's agreement
- •27: Sequence oftotal
- •95 Bill of lading
- •Captain's receipt for Shipping Documents
- •Assignments
- •Transport and Commercial Documents
- •Виды международных коммерческих сделок
- •Бартер.
- •Встречные закупки.
- •Компенсационные сделки.
- •Methods of Payment
- •Методы торговли
- •Международная торговая палата (мтп)
- •Articles of agreement
- •Icc* Uniform Customs and
- •Unit two
- •Unit three
- •Unit four
- •Unit five
- •Unit six
- •Unit seven
- •Appendices appendix I. Latin words and phrases used in international documents
- •Appendix II. Abbreviations used in
- •International documents
- •Appendix III. Participial and adjectival phrases used in international documents
- •Glossary of diplomatic terms
- •Index of exhibits
- •Reference list
- •Учебное пособие
Methods of Payment
There are four basic methods of payment - each providing varying degrees of security for the exporter.
Payment in advance
Clearly the best possible method of payment for the exporter is payment in advance. Cash with Order (CWO) avoids any risk on small orders with new buyers and may even be asked for before production begins.
However, this form of payment is extremely rare in exporting since it means that an overseas buyer is extending credit to an exporter - when the opposite procedure is the normal method of trade.
Variations of this form of payment are Cash on Delivery (COD) where small value goods are sent by Post Office parcel post and are released only after payment of the invoice plus COD charges.
Open account
An exporter receives the greatest security of payment from cash with order or from cash on delivery. At the other extreme, payment on open account offers the least security to an exporter.
Export Trade collection
A bill of exchange (which is also referred to as a draft) is legally defined as "an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to, or to the order of, a specified person, or to bearer".
The bill is called a sight draft if it is made out payable at sight, i.e. "on demand". If it is payable "at a fixed or determinable future time" it is called a term draft, because the buyer is receiving a period of credit, known as the tenor of the bill. The buyer signifies an agreement to pay on the due date by writing an acceptance across the face of the bill.
Letters of Credit
In any international trade transaction security is of prime importance to both importer and exporter. The exporter wants to ensure that payment will be made for any goods supplied, while the importer wishes to be satisfied that payment will be made only after dispatch of the goods. By using a letter of credit (also known as a documentary credit) both parties have a considerable degree of security in the commercial contract because it is honoured through the banking system.
An irrevocable letter of credit may be defined as an undertaking by an issuing bank (the importer's bank) to an exporter, through an advising bank, normally in the exporter's country, that the issuing bank will pay for the goods, provided the exporter (the beneficiary) complies precisely with all the terms and conditions of the credit.
Irrevocable credits can be either confirmed or unconfirmed, offering varying degrees of security for an exporter. An unconfirmed irrevocable credit is a commitment on the part of the issuing bank in the overseas country, whereas a confirmed irrevocable credit constitutes an undertaking on the part of the confirming bank as well as that of the issuing bank.
IX. Reproduce the following in English.