Teaching objectives and requirements：
•After learning this chapter you will be able to have a thorough knowledge of the different terms of payment, including their characteristics and usual practices as well as the stipulations of a payment clause in a contract.
Teaching focus and difficulty：
•Focus：Payment Instruments, Payment methods, Types of L/C, Characteristics of L/C, The chief contents of L/C:
Difficulty：A bill of exchange, Collection: D/P at sight, after Sight, Characteristics of L/C, Types of L/C
6.1 Aim of teaching and requirement
6.2 Payment Instruments
6.2.1 A bill of exchange
6.2.2 Check:
6.2.3 A promissory note
6.3 Payment methods
6.3.1 Remittance:
6.3.2 Collection: D/P at sight, after sight, D/A
6.3.2.1 Parties involved under collection
6.3.3 Letter of credit
6.3.3.1 The chief contents of L/C
6.3.3.2 Characteristics of L/C
6.3.3.3 Types of L/C
6.3.4 Factoring
6.3.5 Forfeiting
