Chapter 10　Instrument of Payment　第十章付款工具

Chapter 10　Instrument of Payment　第十章付款工具

Learning Objectives:

◆Bill of exchange—nature and usage

◆Promissory note—nature and usage

◆Cheque/check^[1]—nature and usage

A method of payment is an arrangement for payment.Once it is decided and agreed to between you and the importer,you still need to acquire the money physically,which is often achieved by using a specific instrument,such as a bill of exchange,a promissory note or a cheque.Bills of exchange,also called drafts,are widely used for international transactions,while promissory notes and cheques are more for domestic uses.As they can be transferred,they are also called negotiable instrument.