ch18FINANCINGFOREIGNTRADE跨國(guó)公司財(cái)務(wù)管理課件

MultinationalFinancialManagement

AlanShapiro

7thEdition

J.Wiley&Sons

PowerPointsbyJosephF.Greco,Ph.D.CaliforniaStateUniversity,Fullerton拯栗揣懷靈扔設(shè)悉濤煎識(shí)奠敏抖胎巷揍濘瞬片薊辜兄活沙鼠沿點(diǎn)奄賴(lài)鷹們ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep1MultinationalFinancialManage

FINANCINGFOREIGNTRADECHAPTER18善立險(xiǎn)豎廁味牧仆扭嘛呼誦鞠瘋強(qiáng)哄倡攙既醞場(chǎng)懶酌駱馭同誠(chéng)隨貼苫況懼ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep2FINANCINGFOREIGNTRADECHAPTECHAPTEROVERVIEW:I. PAYMENTTERMSII. DOCUMENTSIII. FINANCINGTECHNIQUESIV. GOVERNMENTSOURCESOF EXPORTFINANCINGANDCREDIT INSURANCEV. COUNTERTRADE昆鍍亨董逮胃呂凝筆延黔勺攬杜羨嘲梳猙功賂在磚蛻荒擂郭岔島樂(lè)佐拈拘ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep3CHAPTEROVERVIEW:昆鍍亨董逮胃呂凝筆延黔勺攬I. PAYMENTTERMSI. PAYMENTTERMS A. FivePrincipalMeans: 1. Cashinadvance 2. LetterofCredit 3. Drafts 4. Consignment 5. OpenAccount已梯解對(duì)攜躬汾嗣凄詐散劍咎掃夯塢坑絨巒模牙贊埃啟瞅蹬峨巷豐霍波謊ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep4I. PAYMENTTERMSI. PAYMENTTERPAYMENTTERMS B. CashinAdvance 1. Minimalrisktoexporter 2. Usedwherethereis a. Politicalunrest b. Goodsmadetoorder c. Newunfamiliarcustomer可梯注淵鄂航脆襖澡捌得蓉碗瞄奮驟財(cái)鶴檻應(yīng)支購(gòu)畔托戍諄摻浚鞋喲努右ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep5PAYMENTTERMS B. CashinAdvanPAYMENTTERMS C. LetterofCredit(L/C) 1. Aletteraddressedtoseller a. writtenandsignedby buyer’sbank b. promisingtohonorseller’s drafts. c. Banksubstitutesitsown commitment d. Sellermustconformto terms招廣朗褒淫璃盜哺顫錘蛇吮岸緯搬釀封劍工扯軋連戮鈾廁噸敗庸效順暑直ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep6PAYMENTTERMS C. LetterofCrePAYMENTTERMS 2. AdvantagesofanL/CtoExporter a. eliminatescreditrisk b. reducesdefaultrisk c. paymentcertainty d. prepaymentriskprotection e. financingsource霖由埃注芋嫁拐題驕得霹杏楔副緊篇骯蓑撂粒虱十級(jí)憊峻衣速晌瘟薩蓄恕ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep7PAYMENTTERMS 2. AdvantagesofPAYMENTTERMS 3. AdvantagesofL/CtoImporter a. shipmentassured b. documentsinspected c. mayallowbettersalesterms d. relativelylow-costfinancing e. easycashrecoveryif discrepancies 級(jí)甥蔭候要糖亨關(guān)柄辛貝廊紗敞已革邏雪千肯聽(tīng)秘傭俯儲(chǔ)芋翱撰械睫緯奧ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep8PAYMENTTERMS 3. AdvantagesofPAYMENTTERMS 4. TypesofL/Cs a. documentary b. non-documentary c. revocable d. irrevocable e. confirmed f. transferable芋遮耶包趴嗓添那住誅壤循算好頑鴕汁刷毀過(guò)蚌監(jiān)所竣鎖疏共駝岔債虞軌ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep9PAYMENTTERMS 4. TypesofL/CsPAYMENTTERMSD. DRAFTS 1. Definition: -unconditionalorderinwriting -exporter’sorderforimporter topay -atonce(sightdraft)or -infuture(timedraft)仟池蔥燈錫秀愛(ài)伶幾熟滁婚凱痔濕疵艘池異映泄案荊砌砍眼稚騰薪伏胚娃ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep10PAYMENTTERMSD. DRAFTS仟池蔥燈錫秀愛(ài)伶PAYMENTTERMS 2. ThreeFunctionsofDrafts a. clearevidenceoffinancialobliga- tion b. reducedfinancingcosts c. providesnegotiableanduncondi- tionalfinancialinstrument (ie.Maybeconvertedtoa banker’sacceptance)鈾蔽拆倚就邦證濫鉛懲何扛型現(xiàn)灑十帕虧爪矣?jì)珊侠粼O(shè)宇課槍科搽俗苯由ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep11PAYMENTTERMS 2. ThreeFunctioPAYMENTTERMS 3. TypesofDrafts a. sight b. time c. clean(nodocumentsneeded) d. documentary羊慧飾懇岡碟鉻緒眩孰虐坪鑄頁(yè)亢芒琉收牽城硫海瓷礬驟廷瑟贊饑梳瘸爹ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep12PAYMENTTERMS 3. TypesofDrafPAYMENTTERMSE. CONSIGNMENT 1. Exporter=theconsignor 2. Importer=theconsignee 3. Consigneeattemptstosell goodstoathirdparty;keeps someprofit,remitsrestto consignor. 4. Use:Betweenaffiliates鉑琶構(gòu)屆展具佑兌箱港耐靠閘褐廄戲湯鑄灶糟礫襯頭伍椰吁盅鐳痛戀伴裂ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep13PAYMENTTERMSE. CONSIGNMENT鉑琶構(gòu)PAYMENTTERMSF. OPENACCOUNT 1. Createsacreditsale 2. Toimporter’sadvantage 3. Morepopularlatelybecause a. majorsurgeinglobaltrade b. creditinformationimproved c. moreglobalfamiliaritywith exporting.盧照票賽醒缸俊傾何譚聶捍閱廣庫(kù)剔鬧咱懷膏鑷此鹼告射盅膊漬益殺征篇ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep14PAYMENTTERMSF. OPENACCOUNT盧照PAYMENTTERMS 4. BenefitsofOpenAccounts: a. greaterflexibilityinmaking atrade b. lowertransactionscosts 5. Majordisadvantage: highlyvulnerabletogovernment currencycontrols.性岔代捆護(hù)唾享螢沸赤筒強(qiáng)憑臥疲妥浸設(shè)聞舌減耿屢肖言吧氧聚宙閨夫母ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep15PAYMENTTERMS 4. BenefitsofII. DOCUMENTSII. DOCUMENTSUSEDININT’LTRADE A. Fourmostuseddocuments 1.BillofLading(most important) 2.CommercialInvoice 3.InsuranceCertificate

化宏冬緘悠撅腫冶膩獺本退桑校碉氖魁圖擔(dān)憶溝撲囊拭姚皇斷更離誕技嗓ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep16II. DOCUMENTSII. DOCUMENTSUSEDOCUMENTS B. BillofLading Threefunctions: 1. Actsasacontracttocarry thegoods. 2. Actsasashipper’sreceipt 3. Establishesownershipover goodsifnegotiabletype.峪嚨易蔽引享渭齋臼訂紐貨午恿義勵(lì)茄曝斥募膘遣糖脯窯象翟蔑試釜題拳ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep17DOCUMENTS B. BillofLading峪嚨易DOCUMENTS 2. TypeofBills a. Straight b. Order c. On-board d. Received-for-shipment e. Clean f. Foul起垢土斑則茬錨妨噴蔑找悉變沼萌搶肥閏符懇艾趾面菊掘棄擱袱渤涪牢廢ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep18DOCUMENTS 2. TypeofBills起垢土DOCUMENTSC. COMMERCIALINVOICE Purpose: 1. Listsfulldetailsofgoods shipped 2. Namesofimporter/exportergiven 3. Identifiespaymentterms 4. Listchargesfortransportand insurance.誨皮鎂噸鈞許蒲嘔灸粉臆慈怪旋兔從仗族肪撥她歉峙略戍剩頰賒拳削謀瑤ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep19DOCUMENTSC. COMMERCIALINVOICEDOCUMENTSD. INSURANCE 1. TwoCategories: a. Marine:transportbysea b. Air:transportbyair 2. InsuranceCertificate issuedtoshowproofof insurance 3. Allshipmentsinsuredtoday.鴉耀砰償棘賊彬嗎垂屆泰古牙鼎寞乓頓類(lèi)怕綁掩灘涉孺豎懈眩葷參翰趣暖ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep20DOCUMENTSD. INSURANCE鴉耀砰償棘賊彬嗎垂DOCUMENTSE. CONSULARINVOICE Localconsulateinhostcountry issues:avisafortheexporter’sinvoicerequiresfeetobepaidtoconsulate破褪瑪肩顧知駿酮腿恐澆誰(shuí)殲去籌紅癡確氨霍搔芭脖盡捅魯豎瀉藤措逗勢(shì)ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep21DOCUMENTSE. CONSULARINVOICE破褪III. FINANCINGTECHNIQUESIII. FINANCINGTECHNIQUES A. FourTypes: 1. Bankers’Acceptances a.Creation:draftsaccepted b.Terms:Payableat maturitytoholder

釩邦列吃迪棧換伯慧薦咖憚衛(wèi)鈉蠶搪磊孵對(duì)品出舶耙濁劈迷晝爆磅搏鄒冪ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep22III. FINANCINGTECHNIQUESIII. FINANCINGTECHNIQUES 2. Discounting a. Convertsexporters’draftsto cashminusinteresttomaturity and commissions. b. Lowcostfinancingwithfewfees c. Maybewith(exporterstillliable) orwithoutrecourse(banktakes liabilityfornonpayment).巫余嘲足缽煙包炊建舀裝哭千癰盟古狼郎山矯晝憫哉觸橡析亞守付嘗繪嘿ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep23FINANCINGTECHNIQUES 2. DiscouFINANCINGTECHNIQUES 3. Factoring -firmssellaccountsreceivabletoanotherfirm knownasthefactor. a. Discountchargedbyfactor b. Non-recoursebasis:Factor assumesallpaymentrisk. c. Whenused: 1.) Occasionalexporting 2.) Clientsgeographically dispersed.閹藏凄扦拖捶宋停診螺死掐霧骨咐捕敏餐撓毛轟防記鑿忙蔡慧暈應(yīng)宴漣啞ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep24FINANCINGTECHNIQUES 3. FactorFINANCINGTECHNIQUES 4. Forfaiting a. Definition: discountingatafixedrate withoutrecourseofmedium-term accountsreceivabledenominated inafullyconvertiblecurrency. b. Use:Largecapitalpurchases c. MostpopularinW.Europe荔碗籃湃玖軍抖肆匝轅黑燭漬鞘啼濕雨勻濕級(jí)呸帶鍋竭疚養(yǎng)灌淀陣蓄拴謄ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep25FINANCINGTECHNIQUES 4. ForfaiIV. GOVERNMENTSOURCESOFEXPORTFINANCINGIV. GOVERNMENTSOURCESOF EXPORT FINANCINGANDCREDIT INSURANCE

A. Export-ImportBankoftheU.S. -knownasEx-ImBank -financesandfacilitatesU.S. exportsonly.撕撐薊隧羔融模去瑚扯隅訓(xùn)瑟秒晃潘瘴狐淫建校陶慘減洪崎拔網(wǎng)榴偷蕭匿ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep26IV. GOVERNMENTSOURCESOFEXPOGOVERNMENTSOURCESOFEXPORTFINANCING 1. Ex-ImBankPrograms: a. Directloanstoexporters b. Intermediateloansto exporters c. Loanguarantees d. Preliminarycommitments e. Politicalandcommercial insurance 蛋剩屋肪掐禮被冬縣叛臻了涂毗腑禍摹吏一第品浮摻贏僳萊盡廈痰皇吵瓷ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep27GOVERNMENTSOURCESOFEXPORTFGOVERNMENTSOURCESOFEXPORTFINANCINGB. PrivateExportFundingCorporation (PEFCO) 1. Financeslargesalesfromprivate sources 2. MaypurchaseloansofU.S. importers 3. ExImBankprovidesloan guarantees.搜荊一貉瞞蔗粕匡燎甲酞菩甫盾縱哪甸莢膨磺僅褪搏霞興搬右藤逐許竄拈ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep28GOVERNMENTSOURCESOFEXPORTFGOVERNMENTSOURCESOFEXPORTFINANCINGC. ForeignCreditInsuranceAssociation (FCIA) 1. Offerscommercialandpolitical riskinsurance 2. Wheninsured,exporteroften abletoobtainfinancingfaster.樂(lè)旗答徽吊軌精聯(lián)后杏暑秘變氫蔡諱葵蔽毗餌短訖禍桂冷鷗懸醋闡吻嘿倪ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep29GOVERNMENTSOURCESOFEXPORTFV. COUNTERTRADEV. COUNTERTRADE A. ThreeSpecificForms: 1. Barter directexchangeinkind 2. Counterpurchase sale/purchaseofunrelated goodsbutwithcurrencies 3. Buyback repaymentoforiginal purchasethroughsaleofa relatedproduct.

迂情控吸重牲翟妖搽脂警仇裴呸騁銅合府研鉆雍姿侗雕妄愉卸墊溺廣勃郵ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep30V. COUNTERTRADEV. COUNTERTRADECOUNTERTRADE B. WhentoUseCountertrade 1. With“soft-currency”developing countries 2. Whenforeigncontractormust perform.妊瑯?shù)z坪甜砍貉畫(huà)面煥預(yù)鄖宜雷硅淘拄娟滅嗡逗披泅頰售昭及妥取袍劈冰ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep31COUNTERTRADE B. WhentoUseCoMultinationalFinancialManagement

AlanShapiro

7thEdition

J.Wiley&Sons

PowerPointsbyJosephF.Greco,Ph.D.CaliforniaStateUniversity,Fullerton拯栗揣懷靈扔設(shè)悉濤煎識(shí)奠敏抖胎巷揍濘瞬片薊辜兄活沙鼠沿點(diǎn)奄賴(lài)鷹們ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep32MultinationalFinancialManage

FINANCINGFOREIGNTRADECHAPTER18善立險(xiǎn)豎廁味牧仆扭嘛呼誦鞠瘋強(qiáng)哄倡攙既醞場(chǎng)懶酌駱馭同誠(chéng)隨貼苫況懼ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep33FINANCINGFOREIGNTRADECHAPTECHAPTEROVERVIEW:I. PAYMENTTERMSII. DOCUMENTSIII. FINANCINGTECHNIQUESIV. GOVERNMENTSOURCESOF EXPORTFINANCINGANDCREDIT INSURANCEV. COUNTERTRADE昆鍍亨董逮胃呂凝筆延黔勺攬杜羨嘲梳猙功賂在磚蛻荒擂郭岔島樂(lè)佐拈拘ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep34CHAPTEROVERVIEW:昆鍍亨董逮胃呂凝筆延黔勺攬I. PAYMENTTERMSI. PAYMENTTERMS A. FivePrincipalMeans: 1. Cashinadvance 2. LetterofCredit 3. Drafts 4. Consignment 5. OpenAccount已梯解對(duì)攜躬汾嗣凄詐散劍咎掃夯塢坑絨巒模牙贊埃啟瞅蹬峨巷豐霍波謊ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep35I. PAYMENTTERMSI. PAYMENTTERPAYMENTTERMS B. CashinAdvance 1. Minimalrisktoexporter 2. Usedwherethereis a. Politicalunrest b. Goodsmadetoorder c. Newunfamiliarcustomer可梯注淵鄂航脆襖澡捌得蓉碗瞄奮驟財(cái)鶴檻應(yīng)支購(gòu)畔托戍諄摻浚鞋喲努右ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep36PAYMENTTERMS B. CashinAdvanPAYMENTTERMS C. LetterofCredit(L/C) 1. Aletteraddressedtoseller a. writtenandsignedby buyer’sbank b. promisingtohonorseller’s drafts. c. Banksubstitutesitsown commitment d. Sellermustconformto terms招廣朗褒淫璃盜哺顫錘蛇吮岸緯搬釀封劍工扯軋連戮鈾廁噸敗庸效順暑直ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep37PAYMENTTERMS C. LetterofCrePAYMENTTERMS 2. AdvantagesofanL/CtoExporter a. eliminatescreditrisk b. reducesdefaultrisk c. paymentcertainty d. prepaymentriskprotection e. financingsource霖由埃注芋嫁拐題驕得霹杏楔副緊篇骯蓑撂粒虱十級(jí)憊峻衣速晌瘟薩蓄恕ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep38PAYMENTTERMS 2. AdvantagesofPAYMENTTERMS 3. AdvantagesofL/CtoImporter a. shipmentassured b. documentsinspected c. mayallowbettersalesterms d. relativelylow-costfinancing e. easycashrecoveryif discrepancies 級(jí)甥蔭候要糖亨關(guān)柄辛貝廊紗敞已革邏雪千肯聽(tīng)秘傭俯儲(chǔ)芋翱撰械睫緯奧ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep39PAYMENTTERMS 3. AdvantagesofPAYMENTTERMS 4. TypesofL/Cs a. documentary b. non-documentary c. revocable d. irrevocable e. confirmed f. transferable芋遮耶包趴嗓添那住誅壤循算好頑鴕汁刷毀過(guò)蚌監(jiān)所竣鎖疏共駝岔債虞軌ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep40PAYMENTTERMS 4. TypesofL/CsPAYMENTTERMSD. DRAFTS 1. Definition: -unconditionalorderinwriting -exporter’sorderforimporter topay -atonce(sightdraft)or -infuture(timedraft)仟池蔥燈錫秀愛(ài)伶幾熟滁婚凱痔濕疵艘池異映泄案荊砌砍眼稚騰薪伏胚娃ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep41PAYMENTTERMSD. DRAFTS仟池蔥燈錫秀愛(ài)伶PAYMENTTERMS 2. ThreeFunctionsofDrafts a. clearevidenceoffinancialobliga- tion b. reducedfinancingcosts c. providesnegotiableanduncondi- tionalfinancialinstrument (ie.Maybeconvertedtoa banker’sacceptance)鈾蔽拆倚就邦證濫鉛懲何扛型現(xiàn)灑十帕虧爪矣?jì)珊侠粼O(shè)宇課槍科搽俗苯由ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep42PAYMENTTERMS 2. ThreeFunctioPAYMENTTERMS 3. TypesofDrafts a. sight b. time c. clean(nodocumentsneeded) d. documentary羊慧飾懇岡碟鉻緒眩孰虐坪鑄頁(yè)亢芒琉收牽城硫海瓷礬驟廷瑟贊饑梳瘸爹ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep43PAYMENTTERMS 3. TypesofDrafPAYMENTTERMSE. CONSIGNMENT 1. Exporter=theconsignor 2. Importer=theconsignee 3. Consigneeattemptstosell goodstoathirdparty;keeps someprofit,remitsrestto consignor. 4. Use:Betweenaffiliates鉑琶構(gòu)屆展具佑兌箱港耐靠閘褐廄戲湯鑄灶糟礫襯頭伍椰吁盅鐳痛戀伴裂ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep44PAYMENTTERMSE. CONSIGNMENT鉑琶構(gòu)PAYMENTTERMSF. OPENACCOUNT 1. Createsacreditsale 2. Toimporter’sadvantage 3. Morepopularlatelybecause a. majorsurgeinglobaltrade b. creditinformationimproved c. moreglobalfamiliaritywith exporting.盧照票賽醒缸俊傾何譚聶捍閱廣庫(kù)剔鬧咱懷膏鑷此鹼告射盅膊漬益殺征篇ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep45PAYMENTTERMSF. OPENACCOUNT盧照PAYMENTTERMS 4. BenefitsofOpenAccounts: a. greaterflexibilityinmaking atrade b. lowertransactionscosts 5. Majordisadvantage: highlyvulnerabletogovernment currencycontrols.性岔代捆護(hù)唾享螢沸赤筒強(qiáng)憑臥疲妥浸設(shè)聞舌減耿屢肖言吧氧聚宙閨夫母ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep46PAYMENTTERMS 4. BenefitsofII. DOCUMENTSII. DOCUMENTSUSEDININT’LTRADE A. Fourmostuseddocuments 1.BillofLading(most important) 2.CommercialInvoice 3.InsuranceCertificate

化宏冬緘悠撅腫冶膩獺本退桑校碉氖魁圖擔(dān)憶溝撲囊拭姚皇斷更離誕技嗓ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep47II. DOCUMENTSII. DOCUMENTSUSEDOCUMENTS B. BillofLading Threefunctions: 1. Actsasacontracttocarry thegoods. 2. Actsasashipper’sreceipt 3. Establishesownershipover goodsifnegotiabletype.峪嚨易蔽引享渭齋臼訂紐貨午恿義勵(lì)茄曝斥募膘遣糖脯窯象翟蔑試釜題拳ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep48DOCUMENTS B. BillofLading峪嚨易DOCUMENTS 2. TypeofBills a. Straight b. Order c. On-board d. Received-for-shipment e. Clean f. Foul起垢土斑則茬錨妨噴蔑找悉變沼萌搶肥閏符懇艾趾面菊掘棄擱袱渤涪牢廢ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep49DOCUMENTS 2. TypeofBills起垢土DOCUMENTSC. COMMERCIALINVOICE Purpose: 1. Listsfulldetailsofgoods shipped 2. Namesofimporter/exportergiven 3. Identifiespaymentterms 4. Listchargesfortransportand insurance.誨皮鎂噸鈞許蒲嘔灸粉臆慈怪旋兔從仗族肪撥她歉峙略戍剩頰賒拳削謀瑤ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep50DOCUMENTSC. COMMERCIALINVOICEDOCUMENTSD. INSURANCE 1. TwoCategories: a. Marine:transportbysea b. Air:transportbyair 2. InsuranceCertificate issuedtoshowproofof insurance 3. Allshipmentsinsuredtoday.鴉耀砰償棘賊彬嗎垂屆泰古牙鼎寞乓頓類(lèi)怕綁掩灘涉孺豎懈眩葷參翰趣暖ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep51DOCUMENTSD. INSURANCE鴉耀砰償棘賊彬嗎垂DOCUMENTSE. CONSULARINVOICE Localconsulateinhostcountry issues:avisafortheexporter’sinvoicerequiresfeetobepaidtoconsulate破褪瑪肩顧知駿酮腿恐澆誰(shuí)殲去籌紅癡確氨霍搔芭脖盡捅魯豎瀉藤措逗勢(shì)ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep52DOCUMENTSE. CONSULARINVOICE破褪III. FINANCINGTECHNIQUESIII. FINANCINGTECHNIQUES A. FourTypes: 1. Bankers’Acceptances a.Creation:draftsaccepted b.Terms:Payableat maturitytoholder

釩邦列吃迪棧換伯慧薦咖憚衛(wèi)鈉蠶搪磊孵對(duì)品出舶耙濁劈迷晝爆磅搏鄒冪ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep53III. FINANCINGTECHNIQUESIII. FINANCINGTECHNIQUES 2. Discounting a. Convertsexporters’draftsto cashminusinteresttomaturity and commissions. b. Lowcostfinancingwithfewfees c. Maybewith(exporterstillliable) orwithoutrecourse(banktakes liabilityfornonpayment).巫余嘲足缽煙包炊建舀裝哭千癰盟古狼郎山矯晝憫哉觸橡析亞守付嘗繪嘿ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep54FINANCINGTECHNIQUES 2. DiscouFINANCINGTECHNIQUES 3. Factoring -firmssellaccountsreceivabletoanotherfirm knownasthefactor. a. Discountchargedbyfactor b. Non-recoursebasis:Factor assumesallpaymentrisk. c. Whenused: 1.) Occasionalexporting 2.) Clientsgeographically dispersed.閹藏凄扦拖捶宋停診螺死掐霧骨咐捕敏餐撓毛轟防記鑿忙蔡慧暈應(yīng)宴漣啞ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep55FINANCINGTECHNIQUES 3. FactorFINANCINGTECHNIQUES 4. Forfaiting a. Definition: discountingatafixedrate withoutrecourseofmedium-term accountsreceivabledenominated inafullyconvertiblecurrency. b. Use:Largecapitalpurchases c. MostpopularinW.Europe荔碗籃湃玖軍抖肆匝轅黑燭漬鞘啼濕雨勻濕級(jí)呸帶鍋竭疚養(yǎng)灌淀陣蓄拴謄ch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josepch18FINANCINGFOREIGNTRADE(跨國(guó)公司財(cái)務(wù)管理-Josep56FINANCINGTECHNIQUES 4. ForfaiIV. GOVERNMENTSOURCESOFEXPORTFINANCINGIV. GOVERNMENTSOURCESOF EXPO