OUTLINE
FINANCING IN FOREIGN TRADE
Group 19
1. Payment Terms in Foreign Trade
Cash in advance
Letter of Credit (LC)
Bill of Exchange
Open Account
2. Documents used in Foreign Trade
3. Financing Techniques
Vocabulary
Word Pronunciation English meaning Vietnamese meaning Example
substitute / s b.st .t u t/ˈ ʌ ɪ ʃ ː to use something or someone instead of
another thing or person thay thếComputers can't substitute
for human interaction.
beneficiary / ben. f .i.er.i/ˌ əˈ ɪʃ a person or group who receives money,
advantages, etc. ng i h ng l iườ ưở ợ Her wife was the chief
beneficiary of her will.
appropriate / pro .pri. t/əˈ ʊ ə suitable or right for a particular situation thích h pợPlease complete the
appropriate parts of this form
commitment /k m t.m nt/əˈ ɪ ə a willingness to give your time and energy to
something that you believe in, or a promise or
firm decision to do something
cam k tếI'd like to thank the staff for
having shown such
commitment.
irrevocable / rev. .k .b l/ɪˈ ə ə ə impossible to change không th huể ỷ
ngang an irrevocable decision
discrepancy /d skrep. n.si/ɪˈ ə a difference between two things that should be s khác bi tự ệ The committee is reportedly
the same unhappy about the
discrepancy in numbers.
dishonor /d s n· r/ɪ ˈɑ ə not make a payment không thanh toán
Factoring / fæk.t .r ŋ/ˈ ə ɪ a situation in which a company buys the right
to collect payments and debts owed to another
company and charges for doing this
bao thanh toán
You can decrease the burden
of unpaid debts by selling
those debts to a factoring
service.
Forfaiting / f f t ŋ/ˈ ɔː ɪ ɪ
a situation in which a financial organization
buys a debt owed to an exporter for goods
delivered to an importer. The importer must
then pay the financial organization instead of
the exporter.
Bank relations team focuses
on risk analysis, global trade
services (clearing) and
forfaiting
deduct /d d kt/ɪˈ ʌ to take away an amount or part from a total Kh u trấ ừ The player had points
deducted (from his score) for
arguing with the referee.
relinquish /r l ŋ.kw /ɪˈ ɪ ɪʃ to unwillingly stop holding or keeping
something t bừ ỏ She relinquished her
hold/grip on the steering
wheel
render / ren.d /ˈ ɚ to cause someone or something to be in a
particular state: k t xu tế ấ His rudeness rendered me
speechless.
immense / mens/ɪˈ extremely large in size or degree bao la
hey spent an immense
amount of time getting the
engine into perfect
condition.
