1. In the course of study of this chapter, the students will be acquainted with the various modes of payment and settlement of accounts and particularly those customarily used in our import and export organizations. Chapter Seven Terms of Payment Section One Introduction

2. Spcimen 1 P105 Comments This is a letter asking for easier payment terms. For such kind of letter, the writer should give good reasons. Notes 1 tie-up 占用 2 particularly taxing 负担过重 3 the tight money condition 紧缩银根 Section Two Specimen Letters

3. Specimen 2 P106 Comments The first paragraph is a straightforward, fact-based reminder of the overdue bill. If there has been an eversight, you should be paid promptly. Notes queries 疑问

4. Specimen 3 P106 Comments If a customer exceeds their credit limit, it is the joint responsibility of the customer and the accounts department that allowed the situation to develop. Faced with such a scenario, you can either monitor it in the hope that the balance will be reduced in due course or, if you are concerned about the customer ability to pay or their intentions, you can write to ask them to remedy the matter as soon as possible. Notes 1 credit limit 信用额度 2 scenario 情景

5. Specimen 4 P107 Comments This letter is a good example of conciseness. But it is not polite to say “you should do…” instead, we say “we feel grateful if you can remit us…”. Notes final invoice 最终发票

6. Specimen 5 P107 Comments When you find something wrong with the payment, of course, you should tell the other party to correct the mistake immediately. This letter urges the buyer to settle their accounts under the covering L/C. Writing such letter we should also do in a polite tone and express our opinion clearly. Notes 1 Further to 继 …… 之后 2 Overdue 过期 3 outstanding 悬而未决

7. Specimen 6 P108 Comments This is a letter asking for reimbursement. Notes Credit Note 贷记单

8. Specimen 7 P108 Comments This is a good example to follow. Notes draw a 45d/s bill on your bank 向你方银行开具 45 天的汇票

9. Specimen 8 P109 Comments In this letter the writer gives clearly his requirements for payment terms. Notes 1 Proforma Invoice 形式发票 2 open 开立 3 in your favor 以某人为受益人 4 draw a 60 days’ draft 开立 60 天期汇票 开立 60 天期汇票 5 Commercial Invoice 商业发票 6 Insurance Certificate 保险凭证

10. Section Three Useful Words & Expressions P110 Useful Words & Expressions P110 Section Four Useful Sentences P116 Section Five Exercises P118