国际结算专业词汇.doc

国际结算专业词汇AAcceptanceTheactofgivingawrittenundertakingonthefaceofausancebillofexchangetopayastatedsumonthematuritydateindicatedbythedraweeofthebill,(usuallyinexchangefordocumentoftitletogoodsshippedonD/Aterms)-seeCollectionsIntroduction.AcceptanceCreditAdocumentrycreditwhichrequiresthebeneficiarytodrawausancebillforsubsequentacceptancebytheissuingbankortheadvisingbankoranyotherbankasthecreditstipulates-seedocumentryCredits.AccommodationBillInthecontextoffraud,abilldrawnwithoutagenuineunderlyingcommercialtransaction.AccounteeAnothernamefortheapplicant/openerofadocumentrycrediti.e.theimporter=thepersonforwhoseaccountthetransactionismade.AdviceofFateTheCollectingBankinformstheRemittingBankofnon-payment/non-acceptanceor(forD/Abills)ofacceptanceandthebillmaturitydate-seeHandlingImportCollections.AdvisingActofconveyingthetermsandconditionsofaDCtothebeneficiary.Theadvisingbankistheissuingbankagent,usuallylocatedinthebeneficiarycountry-seeExport-DCAdvising.Advisingalsoinvolvesauthenticationi.e.advisingbankshouldtakereasonablecaretochecktheapparentauthenticityofthecredit(ICCUCC500Art7).AmendmentAlterationtothetermsofaDC;amendmentsmuststemfromtheapplicant,beissuedandadvisedtothebeneficiary;thebeneficiaryhastherighttorefuseanamendmentifthecreditisirrevocable-seeAmendmentstoDCs.ApplicantOnewhoappliestohisbanktoissueadocumentrycredit;inthemajorityofcreditsissuedtheapplicantisanimporterofgoodsAvaliseTheactbyabankinguaranteeingpaymentofabillofexchangeorpromissorynotebyendorsingthereversewiththewordsgoodperavalandsignedbythebank,orbytheissuanceofaseparateguarantee.BBack-to-BackCreditAcreditissuedagainstthesecuritybackofanothercredit(mastercredit)ontheunderstandingthatreimbursementwillstemfromdocumenteventuallypresentedunderthefirstcredit(mastercredit)issued-seeSpecialDCs.ItfollowsthereforethateachsideofaB/Btransactioncoverstheshipmentofthesamegoods.BeneficiaryApayeeorrecipient,usuallyofmoney.Apartyinwhosefavouradocumentrycreditisestablished,usuallytheexporter.BillforCollection(BC)documents)orchequesubmittedthroughabankforcollectionofpaymentfromthedrawee.BillofExchange(B/E)Anunconditionalorderinwriting,addressedbyonepersontoanother,signedbythepersongivingit,requiringthepersontowhomitisaddressedtopayondemandoratfixedordeterminablefuturetimeasumcertaininmoneytoortotheorderofaspecifiedperson,ortobearer.BillofLading(B/L)Areceiptforgoodsforshipmentbysea.ItisadocumentnbspofTitle:seedocument.BillReceivable(BR)Billswhicharefinancedbythereceivingbranch,whetherdrawnunderaDCornot,aretreatedasBRsbyboththeremittingbranchandthereceivingbranches-seeBillsReceivable.BlankEndorsedWhenabillofladingismadeouttoorderorshipperorderandtheshipperhassignedonthebackofit,itissaidtobeblankendorsed.Thebillofladingthenbecomesabearerinstrumentandtheholdercanpresentittotheshippingcompanytotakedeliveryofthegoods.CCarrierPersonorcompanyundertakingforhiretheconveyanceofgoodse.g.shippingcompanyCaseofNeedAgentnominatedbyaprincipal,towhomthecollectingbankmayreferinspecifiedcircumstancesconcerningcollections-seethesectionsonCollections.ChaserRemindersentbythecollecting(orDCissuing)banktotheimporter,repeatingarequestforpayment-seeHandlingImportCollections.CleanUsedtodescribeadraft/chequewithnoshippingdocument-seeCollectionsIntroduction.Usedtodescribeabillofladingwithoutclausesthatexpresslydeclareadefectiveconditionofthegoodsorthepacking.CleanBillPurchasedAcollectionbillpurchasedwithnoshippingPurchasedocument-seeFinancingExportCollections.CleanBillReceivable(CBR)BR(BillReceivable)withnoshippingdocument.Thetermismoreoftenusedfornon-tradebillssuchastravellerscheques.CleanCollectionAdraftwithnodocumentCollectionattached-seeCollections?Introduction?CleanImportLoan(CIL)Aloangrantedtoanimporterforpaymentofimportbills,withouttheBankhavinganyclaimtothegoods.CollectionBankBankinthedraweecountrythatisinstructedtocollectpaymentfromthedrawee-seeCollectionsIntroduction.CollectionOrderFormsubmitted,withdocument,totheRemitting/NegotiatingBankbyanexporterwithhisinstructions-seeCollections?Introduction.ConfirmingActofabankotherthantheissuingbankassumingtheliabilityforpayment,acceptanceornegotiationofcorrectlypresenteddocumentunderaDC-seeConfirmationofDCs.ConsigmentShipmentofgoods.ConsigneeTheperson/company/banktowhomthegoodsaredelivered-usuallytheimporterortheCollectingBank-seeHandlingImportCollections.ConsignorAlsocalledshipper,istheperson/companywhosendsgoodsbyship,bylandorair.ContingentLiabilityAliabilitythatarisesonlyunderspecifiedconditions,e.g.whenabankopensaDCitincursanobligationtomakeafuturepaymentonconditionthatthetermsarefullymet.DDCBillsBillsdrawnunderdocumentrycredits.DeferredPaymentCredit(DPC)ADCwhichallowsthenominationofabank,ortheissuingbanktoeffectpaymentagainststipulateddocumentatamaturitydateasspecifiedordeterminablefromthewordingofthecredit.DemurrageAchargemadebyashippingcompanyoraportauthorityforfailuretoloadorremovegoodswithinthetimeallowed.DiscountingActofpurchasinganacceptedusancebillofexchangeatanamountlessthanthefacevalue.DiscrepancyAnydeviationfromthetermsandconditionsofaDC,orthedocumentpresentedthereunder,oranyinconsistencybetweenthedocumentthemselves-seeNegotiationunderDCs.DishonourNon-paymentornon-acceptance.documentryCredit(DC)Aconditionalundertakingbyabanktomakepayment,oftenabbreviatedtocredit.Moreprecisely,itisawrittenundertakingbyabank(issuingbank)giventotheseller(beneficiary)attherequestofthebuyer(applicant)topayasumofmoneyagainstpresentationofdocumentcomplyingwiththetermsofthecreditwithinasettimelimit.documentThecharacteristicsandimportanceofthevariousdocumentassociatedwithImport/ExportoperationsareexplainedandillustratedinDecidingondocument.documentAgainstAcceptance(D/A)InstructionforcommercialdocumenttobereleasedtothedraweeonacceptanceoftheBillofExchange-seeCollections?Introduction.documentAgainstPayment(D/P)Instructionfordocumenttobereleasedtothedraweeonlyonpayment-seeCollections?Introduction.documentofTitledocumentthatgivetheirownertherighttothegoods,i.e.BillofLading.DraftBillofexchangeissuedbyanexporterandsubmittedtohisbankforcollection,orunderaDC-usuallysubmittedwithattachedshippingdocument-nottobeconfusedwithabankersdraftwhichissometimesusedasavehicleforreimbursement.DraweePartyonwhomabillisdrawnandtheonetowhompresentationistobemadeaccordingtothecollectionorder-theimporter(NB:forDCbills,thedraweeisusuallytheDCissuingbank).DrawerTheexporter,whodrawstheBillofExchange/draftwhichinitselfisaclaimforpayment.DueDateMaturitydateforpaymentEExpiryDateLatestdate,usuallyinthecountryofthebeneficiary,onwhichnegotiation/paymentofaDCcantakeplace.FFinancedBillsBillssentoncollectioninwhichtheremittingbranchhasafinancialinterest.ForeignBillPurchased(FBP)Abillremittedtoacorrespondentbankinwhichtheremittingbranchisfinancingtheexporter-seeFinancingExportCollections.ForwardExchangeContractContractbetweentheBankanditscustomertobuy/sellafixedamountofforeigncurrencyatafuturedateataspecifiedrate.ThiscouldbeforacustomertomakepaymentunderaDCortoselltheproceedsreceivedfromanexportnegotiation.FreightGoodsORthecostoftransportinggoods.GGeneralAverageLosswhichistheresultofasacrificevoluntarilymadeoranexpenseincurred;forthesolepurposeofsavingashipanditscargoinfaceofacommondanger(e.g.jettisonofcargotolightenashipindistress).Thelossisborneproportionatelybyshipandcargoownersaccordingtotheirrespectiveinterestsinthevoyage.GrossWeightTheweightofthemerchandiseinitsshippingform,i.e.includingallitspackaging.IICC322UniformRulesforCollectionsICC323StandardFormsforIssuingdocumentryCreditsICC420GuidetothePreventionofInternationalTradeFraud.ICC460Incoterms1990.Explainsthe13standardIncoterms.ICC500UniformCustomsandPracticefordocumentryCredits(1993revision)replacedthepreviousICC400asfrom1January1994.ICC522UniformCustomsandPracticefordocumentryCredits(1995revision)replacedthepreviousICC322asfrom1January1996.ImportLicenseApermitissuedbytheimportingcountrySauthoritiesinrespectofgoodssubjecttoimportlicensingrestrictions.IncotermsShippingTerms-seeIntroductiontoInternationalTrade.IndemnityAlsoknownasLetterofGuarantee(L/G),itisanundertakinggiveninrespectofdiscrepanciesindocumentpresentedunderacredit.Thebeneficiarywhoissuestheindemnityisprimarilyliabletorepayfundsreceivedfromthenegotiatingbankinsettlementunderthecredit,ifthenegotiatingbankcannotobtainreimbursementfromtheissuingbankasaresultofdocumentbeingrejectedbytheapplicant.InherentViceThepropensityofacommoditytoself-destructionwhichgivesrisetoahighinsurancerisk,thereforecoverisgivenonlyafterpaymentofanadditionalpremium(e.g.fruitrots,coal-dustspontaneouslyignites).InternationalChamberofCommerce(ICC)Theinternationalbodywhichpromotesandfacilitatesworldtrade,andwhichcodifiesworldtradepracticesinvariouspublications-seeICCRules?underIntroductiontoInternationalTrade.IrrevocableCreditConstitutesadefiniteundertakingoftheissuingbankandtheconfirmingbank,ifany,tohonourthecreditprovidedthetermsofthecreditareobserved.Itmaybeadvisedtothebeneficiarywithoutengagementbytheadvisingbank,andcannotbeamendedorcancelledunlesstheissuingbank,theconfirmingbankandthebeneficiaryagree.IssuingBankThebankthatopensadocumentrycreditattherequestofitscustomer,theapplicant.LLetterofCredit(L/C)Americantermfordocumentrycredit.IntheUnitedStates,thetermsD/Ccanoftenbeconfusedfordocumentrycollection.LetterofHypothecationApromisetoholdgoodsassecuritytakenfromcustomerswhoaregrantedloansagainstgoodsimportedonacollectionbasis.LoanAgainstImports(LAI)Loansgrantedtoimportcustomersforpaymentofbills.MMasterCreditInback-to-backoperations,theoriginalexportcreditagainstwhichthesecondcreditisopenedMaturityDuedateofpaymentofausancebillorpromissorynote.NNegotiable/Non-NegotiableUsuallyusedwithregardtoBillsofLading:anegotiableB/Lisavaliddocumentnbspoftitle,whileanon-negotiableB/Lisnot-thebeneficiaryofaDC(theexporter)maysendtheimporteranon-negotiableB/Lforinformation.NegotiationPurchaseofdraftsunderadocumentrycreditwhichtheissuingbankhasundertakentopay.NetWeightTheweightofthemerchandisebeforeanypackaging.Non-DCBillsBillsnotdrawnunderDCi.e.sentonacollectionbasis(D/PorD/A).IncommonusagewedistinguishbetweenNonDCbillswhicharefinancedcollectionsandDCswhicharenon-financed.Non-FinancedBillsBillssentoncollectioninwhichtheremittingbranchhasnofinancialinterest.NotingThefirststageinprotestofadishonouredbill:ifinstructedtoprotestfornon-payment/non-acceptance,thecollectingbankmustsendthebilltoanotarypublicwhowillrepresentittothedraweeonthesamedayitwasrefused,orthenextbusinessday.Ifthedraweestillrefusesthebillthenotarypublicnotesonthebill:theamountofhischarges,thedateandhisinitials.Thereasonforrefusalisshownonanoteattachedtothebill.Thebillisthenprotested-seeProtest.OOpenerSeeApplicant.OpeningBankSeeIssuingBank.Order(To)ThephraseToOrderissometimesshownonBillsofLadingagainstconsignee:thismeansthattheBillofLadingmustbeendorsedinblankbytheshipper(i.e.nottoanyparticularnamedpartywhichmakesitbearerdocumentnbspanditbecomestransferablebydelivery.)PPackingCreditAloangiventothebeneficiarybythebanktoenablehimtopurchaserawmaterials.ThebeneficiaryisusuallyrequestedtodeposittheDCwiththebankassecurity.PastDueBillorloanthathasnotbeenpaidonthematuritydate/duedate.PayingBankThebankthatmakespaymenttothebeneficiaryofapaymentDCafterpresentationtoitofdocumentstipulatedintheDC.PerilsoftheSeasTheyareaccidentsorcasualtiesofthesea.Theordinaryactionsofthewindsandwavesarenotincluded.Heavyortempestuousweatheronavoyageisofsufficientviolencetoconstituteaperilofthesea.PowerofAttorneyAuthoritygiventoonepartytoactforanother.PresentationActofrequestingtheimporter抯payment/acceptanceofanimportbill.-SeeHandlingImportCollections.PresentingBankThebankthatrequestspaymentofacollectionbill-maybetheCollectingBankoritsnominatedbranchorlocalcorrespondent,whichisbetterplacedtocontacttheimporter.PrincipalTheexporterincollectiontransactions,beingtheinitiatorofthetransaction,whoseinstructionsarefollowedatallstages(maybeusedtorefertoanycustomerwhoinitiatesatransactione.g.theopenerofaDC).PromissoryNoteAsignedstatementcontainingawrittenpromisetopayastatedsumtospecifiedpersonataspecifieddateorondemand.ProtestTheformalrepresentationofadishonouredbillofexchange:thebillispresentedbyanotarypublictothedrawee-ifrefusedagain,itisnoted?-seenoting.Thenotarypublicthenissuesaformalprotest,anofficialcertificatethatthebillhasbeenrefused:thedrawercanusethiscertificatetosuethedraweeincourt.RRecourseTherighttoclaimarefundfromanotherpartywhichhashandledabillatanearlierstage.RedClauseCreditAcreditwithaclausewhichauthorisestheadvisingbanktomakeanadvancepaymenttothebeneficiary-seespecialDCs.ReimbursingBankThebanknominatedbytheDCissuingbankthatwillpaythevalueoftheDCtothenegotiating/payingbank.RemittingBankTheexportersbankincollectiontransactions,whichremitsthebilltothecollectingbank.TheexportersbankinDCtransactions,whichdispatchesthedocumenttotheissuingbank.RetirementTheactofpayingorsettlinganoutstandingbillorimportloan;i.e.paymentbytheimportertotheBank.RevocableCreditOnethatmaybeamendedorcancelledwithoutnoticetothebeneficiary.RevolvingCreditAcreditautomaticallyreinstatedaftereachdrawingoruponreceiptofauthorisationfromDCissuingbank,withlimitsastothedurationofthefacilityandastothe(cumulativeornon-cumulative)amountinvolvedforeachdrawing-seeSpecialDCs.SScheduleTheRemitting/NegotiatingBankslettercoveringabillsenttotheCollecting/IssuingBank,whichliststhedocumentattachedandgivescollectionand/orpaymentinstructions.Self-LiquidatingAtransactionissaidtobeself-liquidatingwhenthereisaknownsourceoffundsavailableforitssettlementonduedate.ShipmentDateThedateinsertedonthebillsofladingevidencinggoodsreceivedonboardisregardedfordocumentrycreditpurposesasbeingthedateofshipment.ShipperSeeconsignorShippingGuarantee(SG)Guaranteesofthisnaturearerequiredtoenablecustomerstoobtaingoodsbeforethearrivalofthedocumentoftitle,andareissuedtotheshippingcompaniesbytheBankagainstanundertakingtoforwardthebillsofladingwhentheyarereceived.TheBanknormallytake100%cashmarginagainstthevalueofthegoodsifthecustomerdoesnothaveT/Rfacility.ShippingTermsSeeIncotermsSightAbillpayableatsightispayableonpresentationtothedraweei.e.ondemand.SnagsIrregularbills;importandexport.StandbyCreditThismaybeestablishedassecurityforfacilitiesgrantedatanotherbranc