Key Concepts of Letter of Credit (L/C) Establishment and Usage
This lesson focuses on essential language points regarding the establishment of Letters of Credit (L/C) through banks that are acceptable to sellers. Key terms include "confirmed," "irrevocable," "transferable," "revolving," and "sight," along with practical sentence structures and examples. It also outlines the standard procedures for payment by Letter of Credit, including requirements on ensuring timely delivery and adherence to contractual obligations. For further study materials and resources, visit the provided educational links.
Key Concepts of Letter of Credit (L/C) Establishment and Usage
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Presentation Transcript
Lesson 13 L/C Establishment
重要语言知识点 • to open / establish / issue a L/C through a bank acceptable to the Sellers 通过卖方可接受的银行开立信用证 • confirmed 保兑的 • irrevocable 不可撤销的 • transferable 可转让的 • revolving 循环的 • sight 即期的 （或at sight） • in one’s favor 以……为受益人 e.g. in favor of the Sellers 以卖方为受益人 • to reach the Sellers 30 days before the month of shipment 装运月份前30天送达卖方
例1 • counter-signed adj. 连署的 • covering prep. 关于 • coordination n. 协调 • consolidate vt. 集货 • at the loading port 在装运港 • ensure v. 保证 • charter vt. 租船 • the same as … 与……一致
例2 dispatch n. 派遣，发送 trend n. 趋势 the execution of the contract 合同的执行 re-negotiate vt. 重新谈判 assure vt. 确保
常见句型 • We have instructed our bank, Bank of China, Beijing Branch, to open a confirmed, irrevocable letter of credit for USD108,000 in your favor, valid until May 2007. • As our usual practice goes, we require payment by confirmed and irrevocable letter of credit. However, in consideration of our friendly relations, we are, as an exceptional case, prepared to accept D/P sight terms. • We suggest payment by T/T or drawing on us at 90 days’ sight. • The letter of credit shall remain valid for negotiation in China until the 15th after the aforesaid time of shipment.
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