Chapter外汇.ppt

review ConceptofinternationalsettlementTheevolutionofinternationalsettlementTheestablishmentofcorrespondentbankThethreecontroldocumentsThedepositorybankandcorrespondentbank Chapter2 Instrumentsofinternationalsettlement Learningobjectives IntroductionMajorcontents 1 functionsofanegotiableinstrument2 thecharacteristicsofeachinstrument3 theessentialsofeachinstrument Negotiableinstruments Inabroadsense anycommercialtitleofownershipvaluablesecuritiesandevidences billsofexchange promissorynotes checks billsoflading treasurybills insurancepolicies certificateofdepositsandsoon askstudentstogiveexamples Inanarrowsense Anunconditional or topayanamountofmoneythatiseasilytransferablefromonepersontoanotherbillsofexchange promissorynotes andchecks Billofexchange Definition UnderB EAct1882oftheUK p14 UndertheUniformLawforB EandPromissoryNotesofGenevaof1930 a beinsertedwiththeword BillofExchange b anunconditionalordertopay b bearthenameofthepersonwhoistopay Morethan40countriesallovertheworlduseit Briefdefinition Threepartynegotiableinstrument Thedrawer persongivingtheorderThedrawee thepersontowhomtheorderisaddressedThepayee thepersontowhomthesumispaid Sampleofdraft No 1 Exchangefor 2 3 At 4 sightofthisFirstofExchange Paytotheorderof 5 thesumof 6 Drawnunder 7 To 8 9 SampleofaB E ExchangeforUS 35 000 ooShanghai April2 2008At60dayssight paytotheordertheBankofChinaThesumofUSDThirty fiveThousandonly DrawnunderL CNo 12345DatedonMarch20 2008 To TheCitibankNewYork U S AFor ChinaNationalChemicalsImport ExportCorporation S B Signature Thedrawer Thedrawee Payee Theamount Paymenttime Contentsofbillofexchange Itmustcontain BillofExchange Draft Anunconditionalorder a theordershouldbecarriedoutwithoutanyconditions PaytotheorderoftheBankofChinathesumofthirty fivethousandUSdollars PaytotheorderoftheBankofChinathesumofthirty fivethousandUSdollarswhentheshipreachestheportofN Y Case PaytotheorderofCcompanythesumofUSDtenthousandonlyondeliveryofB LNo 123PaytoCcompanyororderprovidedthegoodsarecompliedwithcontractthesumofUSDtenthousandonly PaytoCcompanyororderthesumofUSDtenthousandonlyandchargesametoapplicant saccountmaintainedwithyou PaytoCcompanyororderthesumofUSDtenthousandonly b Expressedinanimperativesentence PaytotheorderoftheBankofChinathesumofthirty fivethousandUSdollars WewouldbedelightedifyouwouldpaytotheorderoftheBankofChinathesumofthirty fivethousandUSdollars request Dateandplaceofissue normallyissuedintheplacewherethedrawerresidesTenor theduedateofabillonwhichthedraweeshouldeffectpaymentTwotypes sightbills usancebills Differenttenors Payableondemand atsight onpresentment asightbill Ondemandpay Atsightpay Onpresentationpay 2 Usancebillsa Payableatafixedtimeaftersight payat30daysaftersight at60daysaftersight threemonthsaftersight theduedateisbasedonacceptingdate b PayableatafixedtimeafterdateTheduedateisbasedonthedateofissue payat30daysafterdate 60daysafterdate threemonthsafterdate c Payableonafixedfuturedate aspecifiedeventthatiscertaintohappen payat60daysafterpresentmentofthedocuments threemonthsafterthedeathofA payatthreemonthsafterJohngetsmarried contingency notvalid Rulesforcalculatingtheduedateofabill Ifthepayingdateisnon businessday itshouldbepaidonthesucceedingbusinessday after and from accordingtoUCP600 whenthetwowordsareusedthematuritydateexcludethedatementioned 10daysafterMarch1 or 10daysfromMarch1 thematuritydateisMarch11 3 Themonthonabillisacalendarmonth issuingdate March1 2008 thetenor onemonthafterdate thepayingdate April1 2008 thetenor fivemonthsafterdate payingdate August1 2008 Theacceptingdate January31 2008Tenor onemonthaftersightDuedate February28 2008Tenor fivemonthsaftersightDuedate June30 2008 4 Payableatonemonthandahalfaftersight onemonthplus15days5 AccordingtoUCP600Firsthalfofamonth 1sttothe15th secondhalf 16thtothelastdayofthemonthalldaysinclusive6 beginning middle endofamonth 1stto10th 11thto20th 21sttothelastdayofthemonth alldaysinclusive case SupposeanexporterBinEnglandwantstodraw3draftswhichhavethesameissuingdate andthetenorsareasfollowsrespectively payableat60daysafterthedateofB L payableat60daysafterissuingdate payableat60daysaftersight thedraweeisAcompanyinChina thepayeeistheMidlandBankinEngland Bwillsendthe3draftstotheMidlandBankonthesameday meanwhile supposethe3draftswillbeacceptedbyAonthesameday doyouthinkMidlandbankwillreceivetheproceedsofthe3draftsonthesameday SupposingtheB Ldate issuingdate andthepresentmentdate Maincontents continued Asumcertaininmoney thesumshouldbeexpressedinwordsandfigures payableatUSDthreehundredonly payableataboutUSDthreehundred invalid payableatUSDthreehundredwithaninterest invalid payableatUSDthreehundredplusinterestat3 Contents continued Nameofthepayee1 Restrictiveorder nottransferable notnegotiable Paytolimingonly paytoLimingnottransferable 2 Demonstrativeorder indicativeordernegotiable transferablebyendorsement paytotheorderofLiming paytoLimingororder 3 Bearerorder Negotiable endorsementisnotrequired notsafe paytothebearer Contents continued Signature for onbehalfof forandonbehalfof perpro ForABCCorporation London signature JohnSmith Manager Partiestoabillofexchange 1 Threekeyparties Thedrawer thedrawee thepayee2 Additionalparties theacceptor theendorser theendorseetheholder thediscounter theguarantor 1 Thedrawer apersonwhodrawsabillNormallythe orthe 2 Thedrawee thepartytowhomthe isaddressedThepartywhoeffectsthe Normallythe 3 Thepayee First creditor tothebillandthefirstlegalowneroftheinstrumentTheoriginal holder transferorNormallythe drawer Expressiondescribingthethreeimmediateparties thebillisdrawnbyAonBpayabletoC A DRAWERB DRAWEEC PAYEE thebillisdrawnbyusonyoupayabletoourselves Drawer payee thesameperson 指己 thebillisdrawnbyusonourselvespayabletoyou Drawer drawee thesameperson 对己 变形汇票 case TheglobalsettlementcentreofMotorolaislocatedinUSA whiletheMotorolaShanghaicompanyisresponsibleforpurchasebusinessinChina andMotorolacompanyinBrazilisamanufacturer SupposeShanghaicompanypurchasestheelectronicequipmentsfromtheSuzhoucompanyA andthegoodsareshippeddirectlybyAcompanytoMotorolainBrazil IfusingB E howmanytypesofB Ecanbeused 1 对己 drawer Motorolashanghaicompany drawee AmericanMotorala payee SuzhouAcompany2 指己 drawer SuzhouAcompany drawee AmericanMotorola payee Acompanyoragentabroad3 Ordinary drawer Acompany drawee AmericanMotorola payee Acompany scorrespondentbank Acceptor aspecialdraweeEndorser partywhosignshisnameonthebackofabillforthepurposeofnegotiationEndorsee thepartytowhomabillisendorsedbytheendorser thenewcreditortothebill Holderholderforvalueholderinduecourse Holderforvalue 付兑价持票人 Persongivesvaluebyhimselforbysomeotherpersonpriortohim inotherwords Valuecanbeinformof Holderinduecourse a anindividualacquiresanegotiableinstrument ingoodfaith andforvalue b Theinstrumentshouldbe complete andregularonitsfacec Theinstrumentisbefore maturity d Theholderdidnotnoticeany infirmity intheinstrumentor defect inthetitleofthepersonnegotiatingit A C D E B DrewadraftonB Endorsedblanklyandlostit PickeditupandtransferredittoEforvalue Acceptedthed