Chapter 6

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International Payment

Objectives

After studying this chapter，you should be able to

1.understand pricing methods and principles.

2.grasp the formation of unit price.

3.explain the commission and discount.  

4.calculate commission and discount.

5.calculate the price under different trade terms.

6.calculate total cost of export.

7.calculate export cost in terms of foreign exchange.

8.calculate gain or loss amount（rate）.

9.grasp the price clauses.

Key terms

Fixed pricing                   Floating pricing

Flexible pricing                 Currency of account

Discount                       Commission

Currency of payment            Total cost of export

In international trade，the price is the main content involved in the business negotiation，and the price term is the major clause in the sales contract. In international trade practices，it is extremely important for importers and exporters to grasp the methods of price calculation and accounting，to adopt various pricing methods，to select favorable money of account，to use commission and discount concerning the price to stipulate the price term.

6.1About the price

  Price is amount of money for which an article or commodity can be bought and sold, and it is also critical ingredient in consumer evaluation of the commodities. In practice, pricing is one of important and difficult task . When pricing, the following issues should be considered.

6.1.1. Pricing principal

（1）Having a good knowledge of the international market level，establishing all relevant market data on competitive prices for similar products and evaluating them.

（2）Considering the policies and regulations that apply to a particular country or area，when referring to the international market situation.

（3）Considering the buying and selling intentions of the trader's on the basis of the international market level.

（4）Watching the changes of supply and demand relationship and trend of rising and falling of the international market prices.

6.1.2Factors effecting the price

• （1）The quality and grade of the products.

• （2）Transport distance. Transport distance directly influences the transportation cost.

• （3）The place of delivery and terms of delivery.

• （4）The volume of business.  

• （5）Method of payment and the possible fluctuation of foreign exchange rates 

6.1.3 Pricing methods

Detailed methods of pricing should be included in the clause of price. The following methods of pricing can be used in international sales of goods.

Fixed pricing

The seller delivers and the buyer accepts the commodities at a fixed price agreed by both parties，neither party shall have the right to change the fixed price.

Flexible pricing

•The pricing time and the pricing method are specified in the price terms，for instance，“the price will be negotiated and decided by both parties 60 days before the shipment according to the international price level”.

•Only the pricing time is fixed，for instance，“to be priced on July 1，2015 by both parties”.

Partial fixed price and partial unfixed price 

The parties concerned only fix the price for the commodities to be delivered recently，and leave the price for the commodities to be delivered in the long term open.

Floating pricing 

In the price terms，not only the specific price of goods is fixed，the price adjustment clause is also stipulated. Under this clause，the price can be adjusted according to the changes of salaries and prices of raw material etc. For instance，“if the concluded price for other buyers is 5% higher or lower than the contract price，both parties will negotiate to adjust the contract price for the quantity of the contract”.

Questions

List some methods of pricing.

Terminology practice

The following terms appeared in the text. Select one correct term for each of the following statements.

Business strategy      Pricing     Adjustment

（1）A statement that sets out how a company intends to be successful in a given market.     .

（2）Altering something by a small amount so that it will fit or to be right for use.

（3）Fixing or setting a price of something.

6.2.1 Formation of unit price

The unit price is composed of the following parts：measuring unit，unit price figure，money of account，trade terms，commission and discount. Measuring unit and trade term are illustrated in chapter 2 and chapter 3.

e.g.GBP 100 per M/T CIF Shanghai

Unit price figure 

Unit price figure is the key part of price clause and determines the economic interest of the two parties. During the negotiation，the seller and buyer should calculating the price carefully and avoid making mistakes.

Currency of account 

Currency of account is the currency used for price calculation in contract. Currency of payment is the currency for settlement. Normally，the money of account is the money of payment if no otherwise is stipulated in the contract. Currency of account and payment can be home currency of the export country, the currency of import country, or the currency of a third country agreed by both parties. It also can be a unit of account agreed upon by both parties .As the chance of the value of the selected currency may directly affect the financial interests of both parties, the parties concerned should choose the currency favourable to them during pricing .Theoretically, hard currency should be chosen for exports and soft currency for imports. In practice, however, the selection of money of account shall depend on the business practices and intentions of both parties .if favourable currency has to be adopted for the conclusion of a deal ,the following two remedies may be taken: The first is to make corresponding adjustment to the quotation according to the possible trend of the currency in the future ; the second is to stipulate a clause to get the price protected against the currency risks .

Commission

Commission is the service fees charged by the agents or brokers for the transactions made for their principals，such as the commission paid by the exporter to its sales agent，and the commission paid by the importer to its purchasing agent. Different methods are used for specifying commission in the price clause.

e.g.USD 1000per M/T CFR C5% London

   USD 1000 per M/T CFR London including 5% commission

The commission included in a price is called plain commission ;otherwise it’s called secret commission .Chinese foreign trade companies usually make quotations with commission to foreign commissioners. But when the agents collect secret commission ,the amount of commission is not shown in the quotation.

Contracted price with commission is called commission⁃included price. We can work out the commission and commission⁃included price according to the following formulas： 

Commission per Unit=Commission⁃included Price × Commission Rate

Net Price=Commission⁃included Price-Commission per Unit

Commission⁃included Price=Net Price /（1-Commission Rate） 

Usually the invoice value is on the basis of commission⁃included price. The seller will pay commission to the agent after he receives the total amount from the buyer.

Example：When negotiating the business，our export quotation is USD

10 000 Per Metric Ton CIF New York，but the buyer requests 3% commission. How much shall we quote if we want to keep the original income?

Solution:

Commission-included Price=Net Price /(1-Commission Rate)

=10 000/(1-3%)

=USD10 309.28

Discount 

Discount is the price deduction allowed by the seller to the buyer. There are different types of discount such as “quantity discount”，“cash discount”. Different methods are used for specifying discount in the price clause.

Example：USD500 per case CIF London less 5% discount

USD500 per case CIF London including 5% discount

Discount is used as a means of promoting and expanding sales. In practice，CIFD or CIFR is used to express the discount. “R” is the abbreviation of “Rebate”. Secret rebate is not allowed. Discount can be calculated according to the following formulas： 

Unit Discount =Price ×Discount Rate

Net Income per Unit = Price－Unit Discount

Example：When negotiating the business, our export quotation is USD

2 000 per metric ton CIF London, and discount rate is 3%. How much is the net income per unit?

Solution:

Net Income per Unit=Price－Unit Discount

=2 000－2 000×3%

=USD1 940.00

6.2.2 Accounting of export price 

Formation of the price

In international trade, the price of the goods include actual purchase cost per unit,expense per unit, export tax per unit and expected profit per unit.

1.Actual purchase cost

For the exporter，cost means the expenditure the trader spends in purchasing goods from supplier，including value⁃added tax. In order to reduce the export cost and increase the competitiveness of our product，we implement the system of refunding taxes on exported goods. Actual purchase cost is calculated after deducting refunding taxes.

Actual Purchase Cost per Unit =Purchase Price-Refunding Taxes per Unit

Refunding Taxes per Unit= [Purchase Price/（1+ Value⁃Added Tax Rate）] × Export Rebate Rate

Example：One Chinese company exported porcelain cup. Purchase price is CNY 90 per set(17% of value added tax)，and the export rebate rate is 8%，so the actual purchase cost per unit is:

Actual Purchase Cost per Unit=Purchase Price-Refunding Taxes per Unit

=90-[90/(1+17%)]× 8%

=CNY 83.85

2. Expenses

Expenses include domestic expenses and foreign expenses.

Domestic expenses include domestic freight，booking fee，port surcharge，customs clearance fee，inspection fee and other expenses.

Foreign expenses include foreign freight，insurance premium and commission paid to broker.

Foreign freight refers to freight that the goods are transported from port of shipment to port of destination，including basic freight and additional freight.

Foreign insurance fee refers to the fee paid to insurance company for covering insurance.

3. Export tax

Export tax refers to tax levied by the customs for exporting goods. The purpose is to limit and control excessive exportation of some goods. But in order to encourage the exportation，governments of countries levy no tax or levy on some goods.

4.Profit

Profit refers to seller's expected profit，e.g. 10% of the concluded price.

So，the formation of price under FOB，CFR and CIF should be： 

FOB=Actual Purchase Cost per Unit + Domestic Expenses per Unit+Export Tax per Unit+Expected Profit per Unit

CFR=Actual Purchase Cost per Unit + Domestic Expenses per Unit + Export Tax per Unit +Foreign Freight per Unit +Expected Profit per Unit

CIF=Actual Purchase Cost per Unit + Domestic Expenses per Unit + Export Tax per Unit +Foreign Freight per Unit+Foreign Insurance Premium per Unit +Expected Profit per Unit

Price conversion under three different trade terms

In international trade，the price composition varies with price term. During the process of business negotiation，sometimes one party quotes on FOB trade term，but the other party requires CFR or CIF trade term. It is necessary for traders to understand and grasp price conversion.

FOB=CFR－Freight per Unit

=CIF－Freight per Unit－Insurance Premium per Unit

=CIF× [1－（1+Markup Percentage）× Premium Rate]－Freight per Unit

CFR=FOB+ Freight per Unit

=CIF－Insurance Premium per Unit

=CIF× [1－（1+Markup Percentage）× Premium Rate]

CIF=（FOB+Freight per Unit）/[1－Premium Rate×（1+Markup Percentage）]

=CFR/[1－Premium Rate×（1+ Markup Percentage）]

Example：One Chinese export company sells frozen marine product. The quoted price is USD450 per case FOB Xingang. But the foreign corporation requests CIF Hamburg. What is the price under CIF Hamburg?（Freight：USD50 per case；Premium Rate：0.8%；Markup Percentage: 10%） 

Solution:

CIF=（FOB+Freight per Unit）/[1－Premium Rate×（1+Markup Percentage）]

=（450+50）/[1－0.8%×（1+10%）]

=USD504.44

Price accounting 

If export tax is zero， 

FOB= Actual Purchase Cost per Unit + Domestic Expenses per Unit + Export Tax per Unit +Expected Profit per Unit

FOB=（Actual Purchase Cost per Unit + Domestic Expenses per Unit）/（1-Expected Profit Rate） 

FOBC=（Actual Purchase Cost per Unit + Domestic Expenses per Unit）/（1-Commission Rate-Expected Profit Rate） 

CFR=Actual Purchase Cost per Unit + Domestic Expenses per Unit + Export Tax per Unit +Foreign Freight per Unit +Expected Profit per Unit

CFR=（Actual Purchase Cost per Unit + Domestic Expenses per Unit + Foreign Freight per Unit）/（1-Expected Profit Rate） 

CFRC=（Actual Purchase Cost per Unit + Domestic Expenses per Unit + Foreign Freight per Unit）/（1- Commission Rate -Expected Profit Rate） 

CIF=Actual Purchase Cost per Unit + Domestic Expenses per Unit + Export Tax per Unit +Foreign Freight per Unit +Foreign Insurance Premium per Unit +Expected Profit per Unit

CIF=（Actual Purchase Cost per Unit + Domestic Expenses per Unit + Foreign Freight per Unit ）/[1-（1+Markup Percentage）×Premium Rate-Expected Profit Rate]

CIFC=（Actual Purchase Cost per Unit + Domestic Expenses per Unit + Foreign Freight per Unit ）/[1- Commission Rate –（1+Markup Percentage）× Premium Rate- Expected Profit Rate]

Example：Youyi Trading Company received an inquiry for 17 M/Ts(one container load) frozen seafood from a customer in U.S.A.. Purchasing price of goods is CNY 5 600 (including 17% of value⁃added tax ) per metric ton；export packing fee is CNY 500 per M/T；domestic expenses is CNY1 200；inspection fee is CNY 300；customs clearance fee is CNY100；port surcharge is CNY950，and other expenses CNY1 500. Youyi trading company got two⁃month⁃period loan from bank，and the annual rate is 8%；bank charge is 0.5% of concluded price；export rebate rate is 3%；foreign freight is USD2 200；insurance is to be covered for 110% of invoice value by CIF against F.P.A.，and insurance premium rate is 0.85%；commission rate is 3%；expected profit rate is 10%；foreign exchange rate is 1∶6.3945. Please quote FOBC3，CFRC3，CIFC3.

Solution:

（1）Actual Purchase Cost per Unit=Purchase Price –Refunding Taxes per Unit

=5 600×[1-3%/（1+17%）]

=CNY5 456.4103

（2）Expenses

Domestic Expenses per Unit=500+（1 200+300+100+950+1 500）/17+5 600 × 8% × 2/12

=CNY812.9020

Bank Charge per Unit =Quotation ×0.5%

Commission per Unit =Quotation ×3%

Foreign Freight per Unit =2 200 ×6.3945/17= CNY827.5235

Insurance Premium per Unit =CIF×110%×0.85%

Expected Profit per Unit =Quotation ×10%

（3）FOBC3= （Actual Purchase Cost per Unit + Domestic Expenses per Unit）/

   （1-Commission Rate-Bank Charge Rate -Expected Profit Rate） 

=（5 456.4103+812.9020）/（1-3%-0.5%-10%） 

= CNY7 247.7600

FOBC3=7 247.7600/6.3945=USD1 133.44

（4）CFRC3=（Actual Purchase Cost per Unit + Domestic Expenses per Unit+Foreign Freight

    per Unit）/（1-Commission Rate –Bank Charge Rate -Expected Profit Rate） 

=（5 456.4103+812.9020+827.5235）/（1-3%-0.5%-10%） 

= CNY8 204.4345

CFRC3=8 204.4345/6.3945=USD1 283.05

（5）CIFC3=（Actual Purchase Cost per Unit + Domestic Expenses per Unit + Foreign Freight per Unit）/[1-Commission Rate-（1+Markup Percentage）×Premium Rate- Bank Charge Rate-Expected Profit Rate]

=（5 456.4103+812.9020+827.5235）/（1-3%-110%×0.85%-0.5%-10%） 

=CNY8 294.0873

CIFC3=8 294.0873/6.3945=USD1 297.07

6.2.3 Accounting of import price

Formation of the price

The total import cost includes the import cost calculated by CIF plus domestic expenses and import duties  

The Total Import Cost per Unit =CIF+ Domestic Expenses per Unit + Import Duties per Unit

The total import cost per unit shouldn’t be higher than domestic distribution price .We can get the price of CIF if domestic distribution price is known .

CIF= Domestic Distribution Price – Domestic Expenses per Unit –Import Duties per Unit

1. Import duties

Import duties refer to duties levied on import goods by customs ,including import tariff, consumption tax and value-added tax

2. Domestic expenses

Domestic expenses of import goods are similar to that of export goods

3. Profit

Profit here refers to buyer’s expected profit ,usually the expected profit per unit being 10%of concluded price  

Therefore，the price formation of FOB，CFR and CIF should be： 

CIF= Domestic Distribution Price-Domestic Expenses per Unit -Import Duties per Unit -Expected Profit per Unit

CFR= Domestic Distribution Price-Domestic Expenses per Unit -Import Duties per Unit -Insurance Premium per Unit -Expected Profit per Unit

FOB= Domestic Distribution Price-Domestic Expenses per Unit -Import Duties per Unit -Foreign Freight per Unit -Insurance Premium per Unit-Expected Profit per Unit

Price accounting

CIF= Domestic Distribution Price- Domestic Expenses per Unit -Import Duties per Unit -Expected Profit per Unit

Import Duties per Unit =Import Tariff per Unit + Consumption Tax per Unit + Value⁃added Tax per Unit

If consumption tax rate=0， 

Import Duties per Unit=CIF×[Import Tariff Rate+（1+ Import Tariff Rate）×Value⁃added Tax Rate]

CIF=Domestic Distribution Price- Domestic Expenses per Unit -Import Duties per Unit -Expected Profit per Unit

=（Domestic Distribution Price- Domestic Expenses per Unit -Import Duties per Unit）/（1+Expected   

  Profit Rate） 

CIFC=（Domestic Distribution Price- Domestic Expenses per Unit -Import Duties per Unit）/（1+

  Commission Rate+Expected Profit Rate） 

CFR=（Domestic Distribution Price- Domestic Expenses per Unit -Import Duties per Unit -Insurance

  Premium per Unit）/（1+Expected Profit Rate） 

CFRC=（Domestic Distribution Price- Domestic Expenses per Unit -Import Duties per Unit -Insurance Premium per Unit）/（1+Commission Rate + Expected Profit Rate） 

FOB=（Domestic Distribution Price- Domestic Expenses per Unit -Import Duties per Unit -Insurance

  Premium per Unit -Foreign Freight per Unit）/（1+ Expected Profit Rate） 

FOBC=（Domestic Distribution Price- Domestic Expenses per Unit -Import Duties per Unit -Insurance

  Premium per Unit -Foreign Freight per Unit）/（1+Commission Rate + Expected Profit Rate） 

  Example：One trading company in Shenzhen imports 6 600 sets (330 cases；20 sets/case) of baby Woollen knitwear from Pusan，Korea in 20⁃foot container. The domestic distribution price is CNY80 per set；domestic freight is CNY2 000；import inspection fee is CNY300；import customs clearance fee is CNY200；port surcharge is CNY1 500；management fee is CNY3 000；financial expenses is

CNY4 000；foreign freight is USD300；import tariff rate is 14%;value⁃added tax rate is 17%；insurance is to be covered for 110% of invoice value by CIF against All Risks and insurance premium rate is 1%；expected profit rate is 10%；foreign exchange rate 1:6.3945. Please quote FOB，CFR，CIF.

Solution:

（1）Domestic Expenses per Set= (2 000+300+200+1 500+3 000+4 000)/6 600

=CNY1.6667

（2）CIF=(Domestic Distribution Price- Domestic Expenses per Set -Import Duties per Set)/(1+Expected Profit Rate)

Import Duties per Set=CIF×[Import Tariff Rate+(1+ Import Tariff Rate) ×Value⁃added Tax Rate]

= CIF×[14%+(1+14%)×17%]

CIF={80- CIF×[14%+(1+14%)×17%]-1.6667}/(1+10%)

=CNY54.6334

=USD8.54

Questions

（1）What are the differences among FOB，CFR and CIF in their price formation？ What are relations among them？ 

（2）How to calculate the export price of FOB，CFR and CIF？ 

（3）What are commission and discount？

Terminology practice

The following terms appeared in the text. Select one correct term for each of the following statements.

CalculationFreightVolumeQuote

（1）The amount charged or money earned for carrying goods，usually expressed as a price per weight ton but for sea⁃cargo often per ton of cubic space filled.    

（2）A total amount of quantity，or the total number of shares traded on the stock exchange on a particular day.

（3）Working something out by using numbers or one's judgment.

（4）To give or make a quotation（a statement of the current price）.

6.3Accounting of gain or loss and price clause

6.3.1 Accounting of export gain or loss 

1. Total cost of export

For the exporter，cost means the expenditure the trader spends in purchasing goods from supplier，including value⁃added tax. In order to reduce the export cost and increase the competitiveness of our products，we implement the system of refunding taxes on exported goods. Total cost of export is calculated after deducting refunding taxes.

Total Cost of Export per Unit=Purchase Price +Domestic Expenses per Unit-Refunding Taxes per Unit

Refunding Taxes per Unit= [Purchase Price/（1+Value⁃Added Tax Rate）]×Export Rebate Rate

Example：One Chinese company exports porcelain cup. Purchase price is CNY 90 per set（17% of value added tax），domestic expenses are CNY10 per set and the export rebate rate is 8%，so the cost of export per set is:

Cost of Export per Set=Purchase Price+Domestic Expenses per Set -Refunding Taxes

per Set=90+10-[90/(1+17%)]×8%

=CNY 93.85

2.Export cost in terms of foreign exchange

Export cost in terms of foreign exchange refers to cost of obtaining one dollar when exporting goods. If export cost in terms of foreign exchange is more than exchange rate，it means loss；otherwise it means profit.

Export Cost in Terms of Foreign Exchange

=Total Cost of Export per Unit / Net Foreign Exchange of Export per Unit

Total Cost of Export per Unit = Purchase Cost per Unit + Domestic Expenses per Unit - Refunding Taxes per Unit

Net Foreign Exchange of Export per Unit

=FOB

=CIFC- Freight per Unit- Insurance Premium per Unit- Commission per Unit

Example：Purchase cost per metric ton of one kind of export commodity is USD8 000. Commodity circulation cost is CNY2 000 per metric ton, and the price is USD 1 500 CIFC3, including freight USD35, insurance premium USD8. Please calculate export cost in terms of foreign exchange.

Solution:

Export Cost in Terms of Foreign Exchange=Total Cost of Export / Net Foreign Exchange of Export

Total Cost of Export = Purchase Cost + Domestic Expenses

=8 000+2 000= CNY 10 000

Net Foreign Exchange of Export

=CIFC3-Freight -Insurance Premium  - Commission

=1 500-35-8-45= USD 1 412

Export Cost in Terms of Foreign Exchange=10 000/1 412=7.08(CNY/USD)

3.Accounting of export gain or loss

Comparing income with cost is called gain or loss accounting. If cost exceeds income，that means loss；if income exceeds cost，that means gain. For a foreign trade company，export gain or loss accounting means comparing export cost with net foreign exchange of export.

Export Gain or Loss Amount= Net Income of Export –Total Cost of Export

Net Income of Export= Net Foreign Exchange of Export×Exchange Rate

Total Cost of Export = Purchase Cost + Expenses before Export - Refunding Taxes

Export Gain or Loss Rate =（Export Gain or Loss Amount/ Export Cost）×100%

If exchange rate is USD1=CNY 7.30，other information refers to the above⁃mentioned example，so

Export Gain or Loss Amount=1 412×7.30-10 000= CNY 307.6

Export Gain or Loss Rate=（307.6/10 000）×100%=3.08%

6.3.2 Accounting of import gain or loss 

Accounting of import gain or loss is similar to that of export gain or loss. It mainly calculates import gain or loss rate by calculating total cost of import，import gain or loss amount.

Import Gain or Loss Rate =（Import Gain or Loss Amount /Total Cost of Import）×100%

Import Gain or Loss Amount=Net Income of Domestic Distribution-Total Cost of Import

Total Cost of Import per Unit=CIF+Import Duties per Unit +Domestic Expenses per Unit

Example：Youyi Trading Company imports 4 000 cases of food from Australia. The price is USD18 per case FOB Sydney；import tariff rate is 12%,value⁃added tax rate is 17%；foreign freight is USD1 200；insurance to be effected for CIF value of 110% against All Risks，and insurance premium rate is 1%；domestic expenses is CNY16 000；distribution price is CNY210 per case. Please calculate import gain or loss rate(foreign exchange rate is USD1=CNY6.3945).

Solution:

（1）CIF=(FOB+Freight per Case)/[1-(1+Markup Percentage)×Premium Rate]

Freight per Case=1 200/4 000=USD0.3

CIF=(18+0.3)/(1-110%×1%)=USD18.5035=CNY118.3206

（2）Import Duties per Case= CIF×[Import Tariff Rate+(1+ Import Tariff Rate) ×Value Added Tax Rate]

= 118.3206×[12%+(1+12%)×17%]=CNY36.7267

（3）Domestic Expenses per Case=16 000/4 000=CNY4

（4）Total Cost of Import per Case= CIF+Import Duties per Case+Domestic Expenses per Case

=118.3206+36.7267+4=CNY159.0473

（5）Import Gain or Loss Rate=[ (Net Income of Domestic Distribution per Case-Total

  Cost of Import per Case)/ Total Cost of Import per Case]×100%

=[(210-159.0473)/ 159.0473]×100%

=32.04%

6.3.3 The price clause

Price clause including unit price and total amount is an important component of an export contract and should be clearly specified in the contract. Total amount is the total amount of a deal，and usually written in figures and words.

Example：Unit Price：at EUR0.70 per box FOB Tianjin

Total Amount：EUR14 700(Say EURO Fourteen Thousand Seven Hundred Only)

Unit Price：JPY20 000 per metric ton CIFC2 Tokyo

Total Amount：JPY1 000 000(Say Japanese Yen One Million Only)

Questions

（1）What does price clause include？ 

（2）How to calculate total cost of export？ 

（3）How to calculate export cost in terms of foreign exchange？ 

（4）How to calculate export gain or loss rate？ 

（5）How to calculate import gain or loss rate？ 

Terminology practice

The following terms appeared in the text. Select one correct term for each of the following statements.

Account     Hard currency     Settlement     Quantity discount

（1）The currency that is reliable and stable and more in demand.  

（2）Any counting and recording of money，especially a statement of money received or paid.

（3）A trade discount which varies with the quantity of goods demanded in a single order：the larger the quantity，the higher the rate of discount.

（4）The act of settling，of paying bills，debt，charges，etc.

 6.4 Key words，phrases and special terms

n Adjustmentn.调整

n Commissionn.佣金

n Correspondingadj.相应的

n Discountn.折扣

n Formulan.公式

n Hard currency 硬通货

n Measuring unit计量单位

n Money of account计价货币

Money of payment付款货币

n Penetrationn.渗透

n Plain commission明佣

n Quotationn.报价

n Secret commission 暗佣

n Skimmingn. 撇脂

n Soft currency 软通货

n Actual purchase cost实际进货成本

n Purchase price 进货价

n Refunding taxes出口退税

n Markup Percentage投保加成率

n Premium Rate保险费率

n Domestic distribution price国内分销价

n Total cost of export出口总成本

n Export cost in terms of foreign exchange出口换汇成本

n Net foreign exchange of export出口外汇净收入

n Gain or loss amount盈亏额

n Gain or loss rate盈亏率

n Net income of domestic distribution国内分销净收入

4.5  Basic skill practice

n