Unit7国际结算

1、Unit 7International trade settlementDefinition of International trade settlementvFinancial activities conducted though banks among different countries, in which payments are effected or funds are transferred from one country to another in order to settle accounts, debts, claims,etc text contentvThe

2、text is divided by two parts:vMeans of payment in international tradevModes of international paymentMeans of payment in international tradevThe three important negotiable instruments: vbills of exchangevpromissory note vcheque or checkModes of international paymentvremittancev collection v L/C. vSb1

3、draw a draft on sb21向2开出汇票,要求2付款Definition of bill of exchangevA 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 determinable future time a sum ce

4、rtain in money to or to the order of a specified person , or to the bearer.v汇票是由出票人向另一人签发的，要求即期、汇票是由出票人向另一人签发的，要求即期、定期或在可以确定的将来的时间，向某人或定期或在可以确定的将来的时间，向某人或其指定人或来人无条件地支付一定金额的书其指定人或来人无条件地支付一定金额的书面命令。面命令。Nature: unconditional order in writing Basic three parties Tenor Amountdrawerdraweepayeeon demand/at

5、 sightfixed future timedeterminable future timeHow to remember the definition of a bill of exchange?amount in figures or in wordsActs of a bill of exchange汇票的票据行为汇票的票据行为vIssuance 出票出票vEndorsement 背书背书vPresentment 提示提示vAcceptance 承兑承兑vPayment 付款付款vDishonor 拒付拒付vNotice of dishonor 退票通知退票通知vRight of re

6、course 追索权追索权vDiscounting 贴现贴现Sight DraftvExchange for USD25,000 Shanghai,March 19th,2001v At sight pay to the order of the Bank of Chinav the sum of twenty-five thousand US dollars onlyv Value receivedv vTo The Citi Bank For China National Chemicals Import & Exportv New York, N.Y.U.S.A. Corpora

7、tion, S.B. v (signature) promissory noteA promissory note is unconditional promise in writing , made by one person（maker) to another(payee), signed by the maker,engaging to pay on demand or at fixed or determinable future time , a sum certain in money to or to the order of a specified person or to b

8、earer. 本票是一人本票是一人(制票人制票人)向另一人向另一人(收款人收款人)签发的，签发的，保证即期或定期或在可以确定的将来时间，保证即期或定期或在可以确定的将来时间，对某人或其指定人或执票人支付一定金额的对某人或其指定人或执票人支付一定金额的无条件书面承诺。无条件书面承诺。vPromissory Note New York, April 1, 2001v v For USD99,999.00vOn the 20th June 2001 fixed by the promissory note we promise to pay BA the sum Of ninety-nine tho

9、usand nine hundred and ninety-nine US Dollars onlyv v For and on behalf of v DC v (signed)Maker and payer are the same personIt is an unconditional promise in writing Two basic parties: maker, payee There is no acceptance on it The maker is the primarily liable partycheckA check is an unconditional

10、order in writing, addressed by the customer(the drawer)to a bank(the drawee)signed by that customer authorizing the bank to pay on demand a specified sum of money to or to the order of a named person or to bearer (the payee).支票是支票是银行存款户银行存款户对其开立账户的对其开立账户的银行银行签发的签发的，授权该银行对某人或其指定人或执票来人，授权该银行对某人或其指定人或执

11、票来人即期支付即期支付一定金额的书面无条件支付命令。一定金额的书面无条件支付命令。A check is a bill of exchange drawn on a bank payable on demand.checkCheck for USD 100,000.00 Shanghai, May 4, 2001Pay to the order of John Smith the sum of ten thousand US dollars vTo: Bank of China For China NationalArts&Craftsv Shanghai, China Import.

12、&Export Corpv (Signed)v A check must be unconditional A check must be drawn on a bank A sum certain in money must be written on a check, which should be signed by or per procurement for the drawer The date of a check is not essential in that it can be antedated, post-dated or dated on a non-busi

13、ness day The payee may be bearer, a specified person or his order. The mode of international paymentvRemittance v1.By mail transfer v2. By telegraphic transfer v3. By demand draftRemittancevRemittance is to deliver the payment of the goods to the seller by bank transfer. In remittance, there are fou

14、r parties involved: the remitter, the beneficiary, the remitting bank and the paying bank.vBy demand draft, the buyer will come to the local bank to buy a bankers bill and then deliver it to the seller or beneficiary by mail. When the seller of beneficiary receives it, he will come to the bank desig

15、nated by the bankers bill for cash.CollectionvUnder collection, the exporter takes the initiative to collect the payment from the buyer. Upon the delivery of the goods, the exporter draws a bill of exchange on the importer for the sum due, with or without relevant shipping documents attached, and au

16、thorizes his bank to effect the collection of the payment through its branch bank or correspondent bank in the country of importer.vdocumentary collection (跟单托收跟单托收) or clean collection (光票托收光票托收) vtwo typesv1. Documents Against Payment (D/P)2. Documents Against Acceptance (D/A)vParties Involved in

17、Collection(a) The Principal (exporter or seller) 出票人出票人(b) The remitting bank (A bank at the place of the seller) 托收行托收行v (c) The collecting bank (correspondent or branch of the remittingbank) 代收行代收行(d) Drawee (buyer or importer) 受票人受票人Documents Against Payment (D/P)vUnder D/P, the buyer can receive

18、 the shipping documents only after he has duly made the payment of the goods. It can be further be of 2 types: D/P at sight and D/P after sight (date).即期汇票即期汇票Exchange for Exchange for HKD21 500.00HKD21 500.00 Tianjin,15 April 2004 Tianjin,15 April 2004D/P AtD/P At* * * *sight of this first Exchange

19、(Second of the sight of this first Exchange(Second of the same tenor and date unpaid)pay to the order of same tenor and date unpaid)pay to the order of The The Industrial and Commercial Bank of ChinaIndustrial and Commercial Bank of ChinaHongkong dollars twenty one thousand five hundred onlyHongkong

20、 dollars twenty one thousand five hundred onlyDrawn against Drawn against shipment of 22 bales of pongee from shipment of 22 bales of pongee from Tianjin to Hongkong for collectionTianjin to Hongkong for collectionTo To Sunlight garments CompanySunlight garments Company 314 Locky Road,314 Locky Road

21、, Hongkong HongkongDocuments Against Acceptance (D/A)vUnder the D/A, the buyer can get the shipping documents from the collecting bank after he has duly accepted the draft. This is only applicable to time draft. This is greatly convenience to the buyer, but it means much more risk for the seller, fo

22、r once he has delivered the shipping documents, he will have lost his title over the goods.远期汇票远期汇票Exchange for Exchange for HKD18 600.00HKD18 600.00 Tianjin,20 April 2004 Tianjin,20 April 2004D/A At D/A At 30 days30 days after sight of this first after sight of this first Exchange(Second of the sam

23、e tenor and date Exchange(Second of the same tenor and date unpaid)pay to the order of unpaid)pay to the order of Nanyang Commercial Bank Nanyang Commercial Bank Ltd.Ltd.Hongkong dollars eighteen thousand six hundred onlyHongkong dollars eighteen thousand six hundred onlyDrawn against Drawn against

24、shipment of Cashmere Coats from Tianjin shipment of Cashmere Coats from Tianjin to Hongkong for collectionto Hongkong for collectionTo To Sunlight garments CompanySunlight garments Company 314 Locky Road, 314 Locky Road, Hongkong Hongkong letter of creditvThe documentary credit or letter of credit i

25、s an undertaking issued by a bank for the account of the buyer(the applicant) or for its own account, to pay the beneficiary the value of the draft and/or documents provided that the terms and conditions of the documentary credit are complied with.v跟单信用证或信用证是银行（开证行）根据跟单信用证或信用证是银行（开证行）根据买方（申请人）的要求和指示

26、或以银行自身买方（申请人）的要求和指示或以银行自身的名义开立的，的名义开立的，凭凭 符合信用证条款的单据符合信用证条款的单据，向卖方（受益人）支付一定金额的向卖方（受益人）支付一定金额的书面承诺书面承诺vi.向向第三者第三者或其指定人进行付款，或支付或承或其指定人进行付款，或支付或承兑受益人开立的汇票；兑受益人开立的汇票；ii.授权另一家银行进行该项付款，或承兑和支授权另一家银行进行该项付款，或承兑和支付汇票；付汇票；viii.授权另一家银行议付授权另一家银行议付vA letter from a bank guaranteeing that a buyers payment to a sell

27、er will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.vThe issuing bank undertakes to effect payment, quite independent of whether the applicant is

28、 bankrupt or is in default or not, provided the documents presented are in compliance with the terms and conditions of the credit.Function of L/CvThe L/C solves the possible problems arising from the distrust between the seller and the buyer. Under L/C, the seller can feel assured that so long as he

29、 has made the delivery of the goods and got the required documents he can get the payment of the goods in time and the buyer can also feel at ease that he can get the shipping documents at the same time when he effects the payment of the goods. Parties involved in a documentary credit v一、开证申请人一、开证申请

30、人(APPLICANT)v二、开证行二、开证行(ISSUING BANK/OPENING BANK)v三、通知行三、通知行(ADVISING BANK)v四、受益人四、受益人(BENEFICIARY)v五、保兑行五、保兑行(CONFIRMING BANK)v六、议付行六、议付行(NEGOTIATING BANK)v七、付款行七、付款行(PAYING BANK)v八、承兑行八、承兑行(ACCEPTING BANK)v九、偿付行九、偿付行(REIMBERSING BANK)信用证的种类v普通信用证v光票信用证光票信用证 Clean Creditv跟单信用证跟单信用证 Documentary Cre

31、dit可撤销信用证可撤销信用证 Revocable Credit不可撤销信用证不可撤销信用证 Irrevocable Credit即期付款信用证即期付款信用证 Sight Payment Credit延期付款信用证延期付款信用证 Deferred Payment Creditv特殊信用证特殊信用证v可转让信用证可转让信用证 Transferable Creditv对背信用证对背信用证 Back to Back Creditv对开信用证对开信用证 Reciprocal Creditv循环信用证循环信用证 Revolving CreditvRed clause/Anticipatory credi

32、t红条款红条款/预支预支信用证信用证Useful wordsvMeansvillegal means v非法手段vTry every means v尽力vends and means v目的与手段vrecourse vEndorsement without recourse( sans recourse) v无追索权背书 v4.With recourse or without recourse L/C v有追索权或无追索权的信用证v5.No recourse was left. v无可依赖了。 v6.Draft( bill) without recourse v无追索权汇票 vapply to

33、 v1. 涂抹, 贴2. 适用于3. 运用4. 向申请要求5. 致力于, 专心于vWill apply to college. vapply to sb. for sth. v向.申请得到.vapply theory to practice v把理论应用于实践ventrustventrust sb. with sth. v把某事委托给某人 ventrust the key to someone v把钥匙交给某人保管priorityvn. v1. 优先权, 重点2. 优先考虑的事3. （车辆的）优先通行权4. 先；前；(时间上)在前 5. 优先；在先；上席；上位vI have priority vassign a priority to. v给某事物以优先考虑的待遇vestablish an order of priority