国际结算 第二章 国际结算中的票据

1、Chapter two Negotiable instruments General introduction Bill of Exchange/Draft Promissory Note Check What is a negotiable instrument? Forms of circulation Characteristics of negotiable instruments Functions of negotiable instruments Parties to a negotiable instrument Title to a negotiable instrument

2、 Negotiable instrument laws General introduction in a broad sense, a negotiable instrument refers to any commercial title ownership. in a narrow sense, a negotiable instrument is a written document that contains an unconditional promise by the drawer to pay the payee or an unconditional order by the

3、 drawer to the drawee to pay the payee a fixed amount of money at a definite time meaning of negotiable instruments 过户转让（过户转让（assignmentassignment）非流通非流通 特点：书面形式特点：书面形式 转让通知原债务人或登记过户转让通知原债务人或登记过户 受让人权利受前手缺陷受让人权利受前手缺陷的影响的影响 当事人：转让人、受让人、原始债务人当事人：转让人、受让人、原始债务人 交付转让交付转让( (transfer) transfer) 准流通或半流通准流通或

4、半流通 特点：特点：交付背书转让交付背书转让 不通知原债务人不通知原债务人 受让人的权利受前手权利缺陷的影响受让人的权利受前手权利缺陷的影响 当事人：当事人：转让人，受让人转让人，受让人 流通转让流通转让( (negotiation)negotiation) 完全流通完全流通 特点：特点：正当受让人权利优于前手，不受其缺陷的影响正当受让人权利优于前手，不受其缺陷的影响 forms of circulation 举例说明：甲欠乙举例说明：甲欠乙100元而出具以乙为债权人的字据元而出具以乙为债权人的字据 给乙，让其凭字据找丙去取，同时乙原来曾欠丙给乙，让其凭字据找丙去取，同时乙原来曾欠丙30元元

5、未还，随后乙将此字据又转让给丁。问丁能否从丙处未还，随后乙将此字据又转让给丁。问丁能否从丙处 获得全额款项？获得全额款项？ 如是字据，按民法原则，丙可采取将其对乙的如是字据，按民法原则，丙可采取将其对乙的30元债元债 权转让给丁的办法来冲抵而只需付权转让给丁的办法来冲抵而只需付70 如是票据，按票据法原则，必须全额付款，而不能用如是票据，按票据法原则，必须全额付款，而不能用 乙的权利缺陷来对抗丁的正当票据权利乙的权利缺陷来对抗丁的正当票据权利 Negotiability Non-causative Requisite in form Literally determined content P

6、resenting for payment Characteristics of negotiable instruments 案例分析案例分析 19971997年年8 8月，某市月，某市A A公司与新加坡公司与新加坡B B商签订了一份进口胶合板的合同。合同总金商签订了一份进口胶合板的合同。合同总金 额为额为700700万美元，支付方式为付款交单，允许分批装运。第一批价值为万美元，支付方式为付款交单，允许分批装运。第一批价值为6060万美元的万美元的 胶合板准时到货，质量良好，对双方合作很满意。就在第二批交货期来临之际，胶合板准时到货，质量良好，对双方合作很满意。就在第二批交货期来临之际，B

7、B 商向商向A A公司提出：鉴于贵公司资金周转困难，为了帮助贵方，我方允许贵公司采取公司提出：鉴于贵公司资金周转困难，为了帮助贵方，我方允许贵公司采取 远期付款。远期付款。 贵公司作为买方，可以给我方开出一张见票后一年付款贵公司作为买方，可以给我方开出一张见票后一年付款700700万美元的万美元的 汇票，请中国人民建设银行某市分行承兑。承兑后，我方保证将汇票，请中国人民建设银行某市分行承兑。承兑后，我方保证将700700万美元的胶合万美元的胶合 板在一年内交货。贵方全部收货后，再付给我方板在一年内交货。贵方全部收货后，再付给我方700700万美元的货款。万美元的货款。A A公司以为现公司以为现

8、 在不付款，只开张远期票据就可得到货物在国内市场销售，于是欣然接受了在不付款，只开张远期票据就可得到货物在国内市场销售，于是欣然接受了B B商的商的 建议，给建议，给B B商签发了一张见票后一年付款商签发了一张见票后一年付款700700万美元的汇票。但万美元的汇票。但A A公司始料不及的是，公司始料不及的是， B B商将这张承兑了的远期票据在新加坡的美国银行贴现商将这张承兑了的远期票据在新加坡的美国银行贴现600600万美元。从此却一张胶万美元。从此却一张胶 合板都不交给合板都不交给A A公司。事实上，公司。事实上，B B商将这笔巨款骗到手后便无影无踪了。商将这笔巨款骗到手后便无影无踪了。 一

9、年后，新加坡的美国银行持这张承兑了的远期票据请建行某市分行付款。一年后，新加坡的美国银行持这张承兑了的远期票据请建行某市分行付款。 尽管尽管B B商没有交货，某市分行却不得以此为理由拒绝向善意持票人美国银行支付票商没有交货，某市分行却不得以此为理由拒绝向善意持票人美国银行支付票 据金额。最后，由于本案金额巨大，报请国务院批准，由建行某市分行付给美国据金额。最后，由于本案金额巨大，报请国务院批准，由建行某市分行付给美国 银行银行600600万美元而结案。万美元而结案。 对于这张远期票据，对于这张远期票据，A A公司为出票人，公司为出票人，B B商为收款人，建行某市分商为收款人，建行某市分 行为付

10、款人。行为付款人。A A公司与公司与B B商之间的胶合板买卖合同是该票据的原因商之间的胶合板买卖合同是该票据的原因 关系，使得关系，使得A A公司愿意向公司愿意向B B商开立这张汇票。商开立这张汇票。A A公司曾经向建行某公司曾经向建行某 市分行提供了资金，它们之间的这种资金关系使得建行某市分行市分行提供了资金，它们之间的这种资金关系使得建行某市分行 愿意向愿意向A A公司提供信用，承兑了这张远期汇票。美国银行与公司提供信用，承兑了这张远期汇票。美国银行与B B商之商之 间有对价关系，美国银行善意地付了间有对价关系，美国银行善意地付了600600万美元的对价而受让，万美元的对价而受让， 从而成

11、为这张汇票的善意持票人。但票据的最大特点就是，票据从而成为这张汇票的善意持票人。但票据的最大特点就是，票据 法律关系一经形成，即与基础关系相分离。票据基础关系的存在法律关系一经形成，即与基础关系相分离。票据基础关系的存在 和有效与否并不对善意持票人的票据权利而产生影响。所以，和有效与否并不对善意持票人的票据权利而产生影响。所以，B B 商实际上没有交货，或者商实际上没有交货，或者A A公司并没有足够的美元存在建行，都公司并没有足够的美元存在建行，都 不影响美国银行对承兑人的付款请求权。对美国银行来说，这张不影响美国银行对承兑人的付款请求权。对美国银行来说，这张 票据上并没有写胶合板，只有一句话

12、：票据上并没有写胶合板，只有一句话：“见票后一年付见票后一年付700700万美万美 元元”。票据法律关系应依票据法的规定加以解决，票据基础关系。票据法律关系应依票据法的规定加以解决，票据基础关系 则应以民法规定加以解决。则应以民法规定加以解决。B B商正是利用了票据的特性才行骗得商正是利用了票据的特性才行骗得 逞的。逞的。 举例：举例：甲交给乙一张经付款银行承兑的期票，作为甲交给乙一张经付款银行承兑的期票，作为 向乙订货的预付款，乙在票据上背书后转让给丙以向乙订货的预付款，乙在票据上背书后转让给丙以 偿还原欠丙的借款，丙于到期日向承兑银行提示取偿还原欠丙的借款，丙于到期日向承兑银行提示取 款，

13、恰遇当地法院公告该行于当天起进行破产清理，款，恰遇当地法院公告该行于当天起进行破产清理， 因而被退票。丙随即向甲追索，甲以乙所交货物质因而被退票。丙随即向甲追索，甲以乙所交货物质 次为由予以拒绝，并称已于次为由予以拒绝，并称已于10天前通知银行止付，天前通知银行止付， 止付通知及止付理由也已通知了乙。在此情况下丙止付通知及止付理由也已通知了乙。在此情况下丙 再向乙追索。乙以票据系甲开立为由推诿不理。丙再向乙追索。乙以票据系甲开立为由推诿不理。丙 遂向法院起诉，被告为甲、乙与银行三方。你认为遂向法院起诉，被告为甲、乙与银行三方。你认为 法院将如何判决？法院将如何判决？ 甲、乙的拒付理由不成立，银

14、行已破产清理，只需甲、乙的拒付理由不成立，银行已破产清理，只需 向甲、乙追索即可。向甲、乙追索即可。 支付工具支付工具payment instrument 流通工具流通工具transferable instrument 信用工具信用工具credit instrument 融资工具融资工具financing instrument Functions of negotiable instrument 出票人出票人drawer 付款人付款人payer/drawee 收款人收款人payee 背书人背书人endorser 承兑人承兑人acceptor 持票人持票人holder Parties to a

15、negotiable instrument 正当持票人正当持票人/善意的持票人（善意的持票人（holder in due course/bona fide holder）：）： The instrument should be complete and regular on its face; The instrument is before maturity and the holder did not notice its previous dishonor, if any; The holder took it in good faith and for value; The holde

16、r did not notice any infirmity in the instrument or defect in the title of the person negotiating it 付对价持票人付对价持票人holder for value : a person who possesses an instrument for which value has been given by himself or by some other person prior to him in forms of money, goods,or services. ACDE B Drew a

17、draft on B Endorsed and lost it Picked it up and transferred it to E for value Accepted the draft F Gave it as a present Claim for payment(第一次请求权，主权利第一次请求权，主权利) Recourse (第二次请求权第二次请求权) Only when the claim of holder for payment cant be satisfied, can recourse right be effected. Titles to a negotiable

18、 instrument British law UK Bills of Exchange Act of 1882 US Uniform Commercial Code of 1962, Article 3 French and German law Uniform law for Bills of Exchange and Promissory Notes of Geneva of 1930 Convention Providing a Uniform Law for International Bills of Exchange and International Promissory No

19、tes and Convention Providing a Uniform law for International Checks United Nations 1988 Negotiable Instrument Law of Peoples Republic of China Negotiable instrument laws Concept Essential items required in a bill of exchange Acts relating to a bill of exchange Classification of bills of exchange Pra

20、ctice of bills of exchange Bill of exchange section 3, bill of exchange act, 1882,UK A Bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinabl

21、e future time a sum certain in money to or the order of a specified person or to bearer. definition v汇票是由一个人（汇票是由一个人（drawer） v向另一个人签发的向另一个人签发的(drawee)/受票人受票人 v无条件的无条件的unconditonal v书面命令书面命令order in writing v要求其在见票时或在未来某一规定的或可以确定的要求其在见票时或在未来某一规定的或可以确定的 时间时间(tenor) v将一定金额的款项支付给某一特定的人或指定的人将一定金额的款项支付给某一

22、特定的人或指定的人 ，或持票人，或持票人(payee) Absolutely necessary items Relatively necessary items Items at will Essential items required in a bill of exchange 出票（出票（Issue） 背书（背书（Endorsement） 提示（提示（Presentation） 承兑（承兑（Acceptance） 保证（保证（Guarantee or Aval） 付款（付款（Payment） 拒付（拒付（Dishonor） 追索（追索（Recourse） 参加承兑和参加付款参加承兑和参

23、加付款 （Acceptance/Payment for honor) Acts relating to a bill of exchange According to the drawer: Bankers draft and traders draft According to the acceptor: Bankers acceptance and traders acceptance According to the tenor Demand draft/sight draft and time/usance draft According to whether commercial d

24、ocuments are attached thereto Clean draft and documentary draft Classification of bills of exchange Discounting of a bill of exchange Accommodation bill融通汇票融通汇票 Practice of bills of exchange Discounting is to sell a time bill already accepted by the drawee but not yet fallen due to a financial insti

25、tution at a price less than its face value. Calculating formula： D=Vtd/360 N= V- D D:discount interest V:face value t:tenor d:discounting rate(n% p.a.) N:net proceeds Creditworthiness: Standing of the drawer and the accepter Drawn clause showing the reason for issuing the draft Discounting of bills

26、of exchange 被融通人开出融通汇票，没有付给对价，被融通人开出融通汇票，没有付给对价， 要求融通人要求融通人（高资信的非债务人）（高资信的非债务人）承兑汇票承兑汇票 （提高汇票的信用身价以便贴现）（提高汇票的信用身价以便贴现），再交给贴，再交给贴 现人予以贴现现人予以贴现，获得票款，获得票款；等到汇票到期日；等到汇票到期日前前， 被融通人应被融通人应把足额把足额票票款款交给承兑人，此时贴现交给承兑人，此时贴现 人向承兑人提示要求付款，承兑人使用被融通人向承兑人提示要求付款，承兑人使用被融通 人交来资金付款给贴现人，结清这笔融资业务人交来资金付款给贴现人，结清这笔融资业务。 Accom

27、modation bill 图示图示 伦敦出口公司向墨尔本一家公司出口货款为伦敦出口公司向墨尔本一家公司出口货款为6600英镑，由出口英镑，由出口 商开出远期汇票，出票后商开出远期汇票，出票后60天付款。伦巴第银行为伦敦某承兑公司。天付款。伦巴第银行为伦敦某承兑公司。 1.The issue of a draft A draft for USD 100,000.00 is drawn by The American Exporter Co.,Ltd, Tampa, Florida, U.S.A on the French Issuing Bank, Paris, France payable

28、at 60 days after sight to the order of ourselves dated 15 May., 2006 marked “Drawn under The French Issuing Bank,Paris, France L/C No.12345 dated 25 Feb., 2006.” 2.A draft indicates that “at 10 days from 11 may, 2006 pay to the order of A company”, the maturity of the draft falls on _ 3.A draft is p

29、artly shown as follows: exchange for GBP12,500.00 New York, 23 May 2006 at 60 days after B/L date 23/ May/2006 pay to the order of ourselves the sum of US dollars one thousand only. Suppose the accepted draft was discounted on 23 may, 2006 by the collecting bank, Bank of Asia, London at the rate of

30、9% per annum. Please calculate discount amount and net proceeds. Exercises 1.Exchange forUSD100,000.00 Tempa, 15 May,2006 At 60 days after sight pay to the order of Ourselves the sum of US dollars one hundred thousand only. “Drawn under The French Issuing Bank, Paris, France L/C No.12345 dated 25 Fe

31、b., 2006” To The French Issuing Bank. For The American Exporter Co., Paris Ltd , Tempa signature 2. When ISBP does not put into force, the maturity falls on 20 May,2006 when ISBP puts into force, the maturity falls on 21May,2006 3.Discount amount:1250060/365 9/100=184.93 Net Proceeds=12500-184.93 Wh

32、at is a promissory note Essential items of a promissory note The difference between a bill and a note Types of notes Promissory note 本票是出票人签发的，承诺自己在见票时无条件支付确定的金额本票是出票人签发的，承诺自己在见票时无条件支付确定的金额 给收款人或持票人的票据。给收款人或持票人的票据。 UK Bills of Exchange Act of 1882, Article 83 A promissory note is an unconditional pr

33、omise in writing made by one person to another, signed by the maker, engaging to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person or to bearer. Uniform Law for Bills of Exchange and Promissory notes of Geneva of 1930 Meaning of P

34、romissory note The word “promissory note” An unconditional promise to pay Name of the payee Signature of the maker Place and date of issue Tenor A sum certain in money Place of payment Essential items of a promissory note An order to pay A check is an unconditional order in writing, signed by the pe

35、rson giving it, requiring the bank to whom it is addressed to pay on demand a sum certain in money to, or to the order of , a specified person or to bearer. Concept and essential items Check-payment instrumentnot only;not tranferrabletranferrable 2)2)指示性指示性（Demonstrative OrderDemonstrative Order） 可经

36、背书转让可经背书转让 pay to the order of pay to the order of * * * */pay to /pay to * * * * (or order) (or order) 3)3)来人抬头（我国不允许）来人抬头（我国不允许）pay to bearerpay to bearer Absolutely necessary items(一) v Date of issue to determine the expiry date and paying date; make sure whether the drawer has disposing capacity

37、 v Name of drawee v The signature of the drawer without the signature of the drawer or forged signature makesan instrument invalid. (二)Absolutely necessary items(二) v Place of issue v Place of payment v Tenor 即期付款即期付款(pay on demand/at sight) 远期付款：出票后定期远期付款：出票后定期certain days after date 见票后定期见票后定期cert

38、ain days after sight 定日付款定日付款fixed date 提单日后定日付款提单日后定日付款certain days after B/L Calculating the due date of a bill 严格按照汇票的文义推算，月为日历月，半严格按照汇票的文义推算，月为日历月，半15天，如遇节假日则顺天，如遇节假日则顺 延延 at 30 days after date; at 60 days from * Relatively necessary items 利息、利率及汇率利息、利率及汇率（interest ，interest and exchange rate） 提

39、示期限（提示期限（Limit of time for presentation） 出票依据（出票依据（Drawn Clause） 免作退票通知或放弃拒绝证书（免作退票通知或放弃拒绝证书（Notice of Dishonor Excused or Protest Waived） 付一不付二付一不付二 预备付款人（预备付款人（Referee in case of need） Items at will Comprises : 1 1）to draw and sign a bill; 2 2）to deliver it to the payee According to the negotiable

40、 instrument law： The bill should be complete in form stipulated by the negotiable instrument law in the place of issue； By drawing a bill,the drawer engages that on due presentment the bill will be accepted and paid and that, if dishonored, he will compensate the holder。 Issue payee payerdrawer The

41、payee or holder signs on the back of the bill and delivers it to the endorsee Endorsement Notes: A valid endorsement should be an endorsement of the entire bill; By endorsing an instrument,the endorser guarantee that on due presentment the bill shall be accepted and paid as specified. Types ： 1) Spe

42、cial endorsement 记名背书记名背书/特别背书特别背书/正式背书正式背书/完全背书完全背书 Pay to the order of ABC Co., signed 2) Blank endorsement 空白背书空白背书 3) Restrictive endorsement 限制性背书限制性背书 Pay to A only/not transferable/not negotiable/pay to A bank for account of B Co. 4) Endorsement for collection 委托取款背书（托收背书）委托取款背书（托收背书） 5) Endo

43、rsement for pledge质押背书质押背书 endorseeendorser date AFirst endorsement C BSecond endorsement C Third endorsement E D Fourth endorsement The drawee sign on the face of bill, and deliver it to the person presenting for acceptance, by which the drawee shows his assent to the order of drawer Forms ： the wo

44、rd “accepted”;date;signature of the drawee Types ： general acceptance: without any qualification qualified acceptance: 1)a conditional acceptance(refuse to accept) e.g. accepted payable providing goods in order; accepted payable at some place(local acceptance);payable at a longer time after date 2)p

45、artial acceptance Acceptance This act is usually performed by a third party called guarantor, who engages to pay on presentment for a sight bill and accept and pay at maturity for a time bill. Guarantee Notes: 1 1）the guarantor stands for a debtor such as drawer, endorser,or acceptor and assumes his indebtedness to the holder 2）when the guarantor is compelled to pay, his right of recourse arises against the guaranteed and all the prior parties of the guaranteed. In the event of a draft being dishonored, the holder in due course can sue every person who signed the draft prior to hi