#NegociatePriceandPayment Flashcards Preview

English Contract > #NegociatePriceandPayment > Flashcards

Flashcards in #NegociatePriceandPayment Deck (14):
1

What are common methods of payment in international trade?

o/c w/ no security
o/c w/ security by export credit insurance
o/c w/ secured by payment guarantee
Payment by L/C

2

What are method of payment in small purchases?

COD( Cash on Delivery)
CAI( Cash against Invoice)
CWO (Cash with order)

3

What method makes late payment impossible?

confirmed irrevocable

4

When delay is excused?

- happens in grace period
- caused by Force Majeure

5

What does insurance premium depend on?

The credit worthiness of Buyer
Stability of Buyer's country and so on

6

What is the guarantee triangle?

Relationship of the principal, guaranters and beneficiary

7

What are business situations commonly use guanrantee?

-Non-payment
- Devocation
- Non-performance
- Losing prepayment

8

What are the guarantees used in the following biz situations?

Payment guarantee
Tender guarantee
Performance guarantee
Prepayment guarantee

9

Name types of L/C

irrevocable - revocable
confirmed -
resolving
at-sight
back to back
standby
revolving

10

What is export credit insurance?

payment guarantee from third party, covering risk of non - payment

11

What is a bank guarantee?

.

12

Disting Export Credit Insurance and Bank gurantee?

.

13

What are some limits of Export Credit Insurance?

.

14

Disting Irrevocable and Revocable LC

.