国际贸易支付

1、Chapter 11International Trade PaymentLearning Objectives1. To learn the most commonly used instruments of payment bills of exchange, promissory notes and cheques. 2. To learn the methods of payment in international trade remittance, collection, letter of credit and bank guarantee. 1. Instruments of

2、Payment支付工具Instruments of PaymentNowadays, non-cash payment are widely adopted in international trade. Under non-cash payment, negotiable instruments to be commonly used as payment instruments are bills of exchangepromissory notes cheques, among which bills of exchange are the most widely used ones.

3、 Instruments of Payment 1. Definition -票据的定义 票据是以支付金钱为目的的证券，是由出票人签名于票据上，约定由自己或另一人无条件支付确定金额的可流通转让的证券。2. 票据的性质流通转让性: 票据上的债权可以通过背书或交付的方式转让。无因性: 持票人（债权人）只要对票据债务人提示，就可以行使票据权利，对取得票据的原因，不负证明责任。要式性: 票据所载的必要项目必须符合法定形式要求。提示性: 持票人要求债务人付款时，必须向其提示票据，请求付款，否则债务人没有付款责任。Bills of Exchange (Draft) 汇票1. Definition: A b

4、ill of exchange (or draft) is a written, dated and signed instrument that contains a unconditional order from the drawer （出票人） that directs the drawee （付款人） to pay a definite sum of money to a payee （收款人） on demand or at a specified future date. 我国1995年票据法：汇票是出票人签发的，委托付款人在见票时或在指定日期无条件支付确定金额给收款人或持票人的

5、票据。英国票据法：汇票是一个人向另一个人签发的、要求在见票时或在将来的固定时间或可以确定的时间，对某人或其指定的人或持票人支付一定金额的无条件的书面支付命令。Exchange for USD5000.00Beijing,July,2000142At 60 days after sight pay to the order36of C companythe sum of five thousand64U.S.dollars.To:Bank of New York,For:A company78U.S.ABeijing (Singature)Contents of Bills of Exchang

6、e 汇票的内容Acts of bills of exchange 汇票的票据行为DrawerPayeePayer(1) issue(2) present(3) accept, payThe order of a draft is valid only if the drawee has an underlying obligation to pay money to the drawer. 出票人与付款人之间需有债权债务关系。Acts of bills of exchange 汇票的票据行为1. Issue 出票Upon issuance (签发）, the drawer （出票人）has t

7、he responsibility to ensure the draft be accepted and paid. If the draft is dishonored （拒付），the drawer shall be recoursed (追索) by the bearer （持票人） and reimburse (偿还）the amount, interest and the relevant charges. 2. Presentation提示Present a draft to a party liable for acceptance or payment. 提示是持票人向付款人

8、出示汇票，要求其承兑或付款的行为。Acts of bills of exchange 汇票的票据行为3. Acceptance 承兑Acceptance means the drawee of the bill writes down the word “accepted”, marks the date and signs his name across the face of the bill. This action means the drawee promise to pay at the date of payment. After accepting the bill, the

9、drawee should return it to the holder who will present it for payment at maturity. 承兑是远期汇票的付款人在汇票上明确做出的接受付款指示，同意支付金额的承诺及签章。Acts of bills of exchange 汇票的票据行为4. Payment 付款On the expiry date of the draft, the payer makes sufficient payment to the legal bearer, the latter then writes off (注销） the draft

10、and return it to the payer as a receipt. 5. Endorsement 背书The act of a payee, drawee, or holder of a draft in signing the back of the draft to transfer rights in the draft to another. 指示性抬头的汇票的受款人或持票人在汇票的背面签名，以转让票据权利为目的的票据行为 。Acts of bills of exchange - Endorsement 汇票的票据行为-背书对受让人而言，所有在其以前的背书人(endors

11、er)和出票人都是其前手(prior party)；对出让人而言，所有在其转让后的受让人皆是其后手(subsequent party)。前手对后手负有担保汇票必然被承兑或付款的责任。Special endorsement (记名背书)：又称特别背书，指背书人在票据背面签名外，还写明被背书人名称或其指定人。Endorsement in blank (空白背书): 背书人仅在票据背面签名而不记载被背书人。Restrictive endorsement (限制性背书)：即不可转让背书, E.g. PAY TO THE ORDER OF * ONLYActs of bills of exchange

12、汇票的票据行为6. Dishonor and recourse 拒付和追索Dishonor means the payer refuses or fails to pay or accept the bill when the holder makes presentation to him. When dishonored, the holder shall pursue the right of recourse by giving notice of dishonor to the drawer and each endorser. 汇票如果遭到拒付，汇票的善意持有人BONA FIDE

13、HOLDER对前手有追索权。通常要及时请公证机构NOTARY PUBLIC作拒绝证书PROTEST. Acts of bills of exchange 汇票的票据行为7. Protest 拒绝证书Protest is an official certificate evidencing the act of dishonor and stating the reason for the protest. After a bill is dishonored by non-acceptance or by non-payment, the holder may hand the bill to

14、 a Notary Public who will present it again for acceptance or for payment. If it is dishonored again, the Notary Public then draws up a protest. CASE STUDY甲交给乙一张经付款银行承兑的远期汇票，作为向乙订货的预付款.乙在票据上背书后转让给丙以偿还原先欠丙的借款.丙于到期日向承兑银行提示取款，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，甲以乙所交货物质次为由予以拒绝，并称10天前通知银行止付，止付通知及止付理由也同时通知

15、了乙。在此情况下丙再向乙追索，乙以汇票系甲开立为由推委不理。丙遂向法院起诉，被告为甲、乙与银行三方。你认为法院将如何依法判决？理由何在？ 案例分析1、法院应判甲向丙清偿被拒付的汇票票款、自到期日或提示日起至清偿日止的利息，以及丙进行追索所支付的相关费用。甲与乙的纠纷则另案处理。2、理由：（1）由于票据具有流通性、无因性、文义性、要式性，因此只要丙是票据的合法持有人，就有权要求票据债务人支付票款，并且此项权利并不受其前手乙的权利缺陷（向甲交付的货物质次）的影响；（2）丙在遭到主债务人（承兑银行）退票后，即有权向其前手甲、乙进行追索。同样由于票据特性，甲不能以抗辩乙的理由抗辩丙。Types of

16、bills of exchange1. According to who is the drawer 按照出票人的不同分类：(1) Trade draft: a bill issued by a trader on another trader or on a bank. 商业汇票的出票人是工商企业或个人，付款人可以是工商企业或个人，也可以是银行。(2) Bankers draft: a draft drawn by a bank on another bank. Both the payer and payee are banks. 银行汇票：汇票出票人、付款人均为银行。 Types of

17、bills of exchange2. According to whether the shipping documents are attached or not 按是否附有货运单据分：(1) Clean draft: a bill without shipping documents attached thereto. 光票，又称净票或白票，指不附带货运单据的汇票。(2) Documentary draft: a bill with shipping documents attached thereto. 跟单汇票，指附有运输单据的汇票。跟单汇票的付款以附交货运单据，如提单、发票、保险单

18、等单据为条件。汇票的付款人要取得货运单据提取货物，必须付清货款或提供一定的担保。国际结算中，大多采用跟单汇票作为结算工具。Types of bills of exchange3. According to the tenor 按付款时间的不同分： (1) Sight draft or demand draft: a bill payable on demand or at sight or on presentation.即期汇票。付款人于持票人提示汇票时，立即履行付款义务如：At sight pay to (2) Time draft or usance draft: a bill paya

19、ble at a fixed or determinable future time. 远期汇票。(a) At days after sight: 见票后定期付款。如2月1日开出汇票，期限为见票后2个月付款，假如持票人5月1日拿着这张汇票要求付款，付款人的付款日期是什么时候？ (b) At days after date: 出票日后定期付款。如2月1日开出汇票，期限为出票后两个月付款，那么到期日是什么时候？ (c) At a fixed date. 在出票时即已定好在某年某月某日付款。 Types of bills of exchange4. According to who is the a

20、cceptor 按承兑人不同分：(1) Traders acceptance draft: a time bill accepted by a trader. 商业承兑汇票是指工商企业或个人承兑的远期汇票。建立在商业信用的基础上。出票人也是工商企业或个人。(2) Bankers acceptance draft: a time bill accepted by a bank. This kind of bill is more preferable and negotiable than the traders acceptance bill and is more acceptable in

21、 the financial market. 银行承兑汇票是指由银行承兑的远期商业汇票。建立在银行信用的基础上，便于在金融市场上流通。Promissory Note 本票Definition: Promissory note is a written promise to pay a determinate sum of money made between two parties.本票是一个人向另一个人签发的，约定于见票时或定期或在可以确定的将来时间，向特定人或某指定人或持票人支付一定金额的无条件的书面承诺（英国票据法）。The party who promises to pay is ca

22、lled the maker; the party who is to be paid is the payee. Promissory Note 本票PROMISSORY NOTE（1）USD 5,000.00New York, March 20,2001(7)（5）On demand we promise to pay the order（6）（2）of B Company the sum of Five Thousand（3）（7）U.S. dollars only.For A CompanyNew York(Signed)（4）Types of Promissory Notes1. 一

23、般本票：由工商企业或个人签发，可分为定日付款本票、签票日后定期付款本票、见票后定期付款本票和见票即付本票。2.银行本票：由银行签发，都是即期的。依我国票据法73条规定，我国只有银行本票,不承认一般本票。Difference between a bill of exchange and a promissory note1. A promissory note is a promise to pay, whereas a bill of exchange is an order to pay. 本票是承诺式的票据。汇票是命令式或委托式的票据，是出票人要求付款人无条件地支付给收款人的书面支付命令。

24、2. There are only two parties to a promissory note, namely the maker and the payee, whereas there are 3 parties to a bill of exchange, namely the drawer, the drawee and the payee. 本票办有出票人和收款人两个当事人,汇票有三个基本当事人,即出票人,付款人和收款人Difference between a bill of exchange and a promissory note3. The maker is prima

25、rily liable on a promissory note, whereas the drawer is primarily liable, if it is a sight bill and the acceptor becomes primarily liable, if it is a time bill. 本票自始至终由出票人负责；汇票在承兑前由出票人负责，承兑后则由承兑人负主要责任，出票人负次要责任。4. When issued, a promissory note has an original note only, whereas a bill of exchange ma

26、y be either a sole bill or a bill in a set. 本票只能一式一份，不能多开；汇票能够开成一式多份（银行汇票除外）。Cheque 支票A cheque is an unconditional order by the drawer, asking his bank to pay a certain amount of money to a third party on demand.由银行存款人签发，要求银行见票时立即从其帐户中无条件地支付一定金额给指定人或持票人的书面支付命令。When the drawer signs a cheque, he shou

27、ld see to it that his deposit in the bank is not lower than the amount of the cheque. If the drawer has not enough deposit in the bank for the cheque amount, the cheque will be dishonored, and this kind of cheque is called “bounced cheque” （空头支票）, which is not allowed. Cheque 支票Cheque for USD3000. S

28、hanghai, May 5, 1999Pay to the order of John Smith the sum of three thousand U.S. dollars.To: Bank of China Shanghai, China For: A Company (Signed)Types of Cheque记名支票和不记名支票：前者是在支票上写明收款人姓名，银行只对支票上的收款人付款；后者是支票上不写明收款人姓名，银行可对支票的任何持票人付款。保付支票CERTIFIED CHECK：为了避免出票人开出空头支票，付款银行应支票收款人或持票人的要求在支票加盖保付戳记，并注明日期和签

29、字，表明支票提示时一定付款。支票一经保付，付款责任即由银行承担，而银行也将票款从出票人的帐户转入专户。银行支票和私人支票：前者出票人为银行，后者出票人为个人。一般支票和划线支票CROSS CHECK：前者可向银行提现或转帐；后者是在支票正面划两道平行线，只能委托银行转帐。2. Remittance and Collection汇付和托收Remittance 汇付Definition and parties related to a remittanceRemittance refers to the transfer of funds from one party to another amo

30、ng different countries, i.e. a bank (the remitting bank 汇出行), at the request of its customer (the remitter 汇款人), transfers a certain sum of money to its overseas branch or correspondent bank (the paying bank 汇入行) instructing them to pay to a named person or corporation (the payee or beneficiary 收款人)

31、 domiciled (定居） in that country. Ways of Transfer1. Remittance by airmail (M/T)：汇出行应汇款人的申请，将信汇委托书寄给汇入行，授权其向指定收款人解付一定金额。信汇无需发电报，费用比电汇低，但收款时间慢。2. Remittance by cable / telex / SWIFT (T/T)：汇出行应汇款人的申请，用电报或电传或SWIFT通知其在国外的分行或代理行（汇入行），向指定收款人解付一定金额。电汇速度快但费用较高。3. Remittance by bankers demand draft (D/D) : 汇出

32、行应汇款人的申请，代汇款人开立以其分行或代理行为解付行的银行即期汇票，要求支付一定金额给收款人。票汇的汇入行无需通知收款人提款，由收款人持票登门，且汇票常可转让流通。M/T(信汇) & T/T (电汇）Remitter汇款人进口方Payee收款人出口方Paying bank 汇入行出口地银行Remitting bank汇出行进口地银行贸易合同汇款申请 /货款(1)付款委托书 (2)汇款通知 / 付款(3)付讫通知(4)D/D (票汇）汇款人进口方收款人出口方汇入行出口地银行汇出行进口地银行贸易合同银行即期汇票 (2)付款 (1)寄汇票票根(通知书）(3)提示汇票(5)付款 (6)付讫通知 (7

33、)寄交银行汇票 (4) 票汇方式下，出口方作为持票人，可以将收款的权利转让。Use of Remittance 汇付的应用汇付的性质：商业信用性质。买卖双方相互提供信用，银行只提供服务。汇付的优点：手续简单，花费少。汇付的缺点：不能实现钱货的当面两清，风险负担及资金负担不平衡。货到付款，卖方风险大，资金负担重；预付货款，买方风险大，资金负担重。Collection 托收1. Definition A collection means that the creditor (the exporter) entrusts the bank to collect payment from the de

34、btor (importer). The bank acts as the intermediary. 委托银行收取票款。进出口业务中，出口人出具跟单汇票，交给其所在地的一家银行，委托该银行通过进口地银行向进口人交单、收取货款。Parties to a collection 托收当事人1. Drawer or principal (委托人)：It is the exporter or the seller who entrusts the collection items to his bank. 通常是出口商，即委托银行办理托收业务的客户。2. Drawee (付款人) ：It is the

35、 buyer or the importer to whom the collection items are to be presented for acceptance or payment. 也是汇票上的受票人（若有汇票），通常为进口商。3. Remitting bank (托收银行) ：It is the bank to which the drawer entrusts the collection items. 接受委托人委托，办理托收业务的银行，也称寄单行，一般是出口地银行。4. Collecting bank (代收行) ：It is the bank entrusted by

36、 the remitting bank to present the collection items to the drawee. 接受托收行委托，向付款人收款的银行，通常是托收行的国外分行或代理行。Types of Collection 1. Clean collections (光票托收)Clean collections are collections on financial instruments without being accompanied by commercial documents, such as invoice, bill of lading, insurance

37、 policy, etc. 光票托收是指汇票不附带货运单据的托收。2. Documentary collections (跟单托收)Documentary collections are collections on financial instruments accompanied by commercial documents.跟单托收：指汇票附带有货运单据的托收。 The two types of documentary collections- 1. Documents against payment (D/P) 付款交单When entrusting the bank to coll

38、ect, the principal instructs the bank to deliver the documents when payment has been made. 出口商的交单以进口商的付款为条件，即进口商一定要履行了付款义务之后才能取得货运单据。According to the different time of payment, it ban be divided into: (1) D/P at sight （即期付款交单） (2) D/P after sight （远期付款交单）: the buyer shall first make acceptance after

39、 checking the documents, and will make payment on the date of expiry of payment. D/P的业务程序委托人（出口人）付款人（进口人）托收行代收行贸易合同发运货物、取得单据开立跟单汇票、 委托委托、寄交跟单汇票提示付款或承兑付款交单收妥通知付款Time draft is used in D/A. The seller instructs the bank to deliver the documents provided the buyer has accepted the draft. The buyer shall

40、 make payment on expiry date. 出口商的交单以进口商在汇票上承兑为条件，进口商在汇票到期时才履行付款义务。 Note: The buyer acquires documents without making payment. If the buyer fails to make payments, the seller will probably suffers money as well as cargo losses. should be very cautiousThe two types of documentary collections - 2. Doc

41、uments against acceptance (D/A) 承兑交单D/A 的业务程序委托人付款人托收行代收行贸易合同发运货物、取得单据开跟单汇票、委托委托、寄交跟单汇票提示承兑承兑交单收妥通知付款到期付款The nature and characteristics of collection Collection is a trade credit settlement. 商业信用。银行仅提供服务，而不承担任何付款保证。一定程度上实现了钱货的当面两清，进口方在未履行付款或承兑前，无法取得货运单据，提取货物；出口方通过掌握单据控制货物。托收方式下，出口方承担较大风险，尤其是D/A.CASE

42、 STUDY某年6月6日，某托收行受理了一笔付款条件为D/P at sight 的出口托收业务，金额为USD100，000.托收行按出口商的要求将全套单据整理后撰打了托收函一同寄给英国一家代收行。单据寄出5天后委托人声称进口商要求托收将D/P at sight改为D/A at 60 days after sight.委托行按委托人的要求发出了修改指令，此后一直未见代收行发出承兑指令。当年8月19日委托行收到代收行寄回的单据发现3份正本提单只有两份。委托人立即通过英国有关机构了解到，货物已经被进口商提走。此时，委托行据理力争，要求代收行要么退回全部单据，要么承兑付款，但是代收行始终不予理睬。货款

43、始终没有着落。 案例分析1、对托收的商业信用性质的把握。根据托收统一规则（URC522）的有关规定：只要委托人向托收行作出了清楚明确的指示，银行对由此产生的任何后果不负责任，后果由委托人自行承担。2、对D/A与D/P之间的法律风险的区分。承兑交单比付款交单的风险大。在承兑交单条件下，进口人只要在汇票上承兑后，即可取得货运单据。3、此外还存在银行与外商相互串通，造成出口人货款与财务的双重损失。 Points for sellers attention in adopting collection1. Always make sure that the overseas importer is o

44、f good reputation and of good financial standing. 2. Take into account the economic and political conditions in the importing country. E.g. if the market price of the imported goods falls, the importer may also find a pretext to refuse to make payment. 3. The amount of transaction should be moderate

45、. 3. Letter of Credit 信用证Letter of Credit 1. DefinitionA letter of credit (L/C) is a conditional undertaking (保证） of payments by a bank. (1) At the request of the buyer. (2) Against the surrender （交出） of the stipulated documents complying with the terms and conditions of the credit.(3) If the above

46、requirements are met, the bank will pay to the seller, or accept the draft and make payment. (4) The paying bank may be issuing bank itself, or the bank nominated by it. The payee may be the beneficiary or the bank nominated by it. Parties to a L/C 信用证的当事人1. Applicant or opener 开证申请人The applicant or

47、 the opener is always an importer or a buyer, who fills out and signs an application form, requesting the bank to issue a L/C in favor of an exporter or a seller abroad. 2. Beneficiary 受益人Beneficiary is the exporter or the seller in whose favor the credit is issued. He is responsible not only for th

48、e correctness and genuineness of the documents but also for the goods which must conform with the contract. Parties to a L/C 信用证的当事人3. Issuing bank or opening bank 开证行The issuing bank is one which issues a L/C at the request of an applicant. It undertakes to pay to the beneficiary. If the applicant

49、fails to pay after the issuing bank makes payment, the latter has the right to sell the goods and claim from the applicant if the proceeds are not sufficient. 4. Advising bank 通知行The advising bank is one which advises the credit to the beneficiary in accordance with stipulations on the credit. It is

50、 located in the place of the beneficiary, which is usually the issuing banks branch or agent of the opening bank. Parties to a L/C 信用证的当事人5. Negotiating bank 议付行The negotiating bank is one which negotiates or purchases the draft drawn by the beneficiary on the issuing bank or on any drawee bank (受票银

51、行）as specified in credit.根据开证行的授权买入或贴现受益人开立和提交的符合信用证规定的汇票或单据的银行。议付行审单无误，即可垫付汇票或单据的款项，在扣减利息后将净款付给受益人。The negotiating bank naturally becomes the holder in due course of the draft after its negotiation. And so it normally has a right of recourse against the drawer, in the event of dishonor by the issui

52、ng bank. 开证行可以在L/C中指定议付行，也可以不具体指定。在不指定议付行的情况下，所有银行均是有权议付的银行。Parties to a L/C 信用证的当事人6. Paying bank 付款行The paying bank is always the drawee of a draft stipulated in the credit. Or we may say it is a bank nominated by the issuing bank to make payment under the credit. Sometimes the paying bank is the

53、issuing bank itself. 付款行通常是汇票的受票人，故又称受票行（drawee bank)，是开证行授权进行L/C 项下付款或承兑，并支付受益人出具的汇票的银行。付款行如同一般的汇票受票人，一经付款，即使事后发现有误，对收款人也无追索权。Parties to a L/C 信用证的当事人7. Reimbursing bank 偿付行Reimbursing bank is the agent of the issuing bank. It honors the reimbursement claims （索偿）of a paying bank or an accepting ban

54、k or a negotiating bank under a particular credit in accordance with the instructions or authorization given by the issuing bank. 为了方便结算，开证行有时委托另一家有账户关系的银行代其向议付行、付款行或承兑行偿付，偿付行只有在开证行存有足够的款项并受到开证行的偿付指示时才付款。偿付行偿付后再向开证行索偿。 偿付行的偿付不视作开证行的终局性付款，因为偿付行不审查单据，不负单证不符之责。开证行在见单后发现单证不符时，可直接向寄单的议付行、代付行追回业已付讫的款项。Pro

55、cedures of L/C operations BUYER(Applicant / Importer)SELLER (Beneficiary / Exporter)ISSUING BANK(Buyers Bank)ADVISING BANK(Sellers Bank)(1) Contract(2) Apply to open credit(3) Documentary credit(4) Credit advice / notificationISSUANCEAMENDMENTBUYER(Applicant / Importer)SELLER (Beneficiary / Exporter

56、)ISSUING BANK(Buyers Bank)ADVISING BANK(Sellers Bank)(1) Request amendment(2) Request amendment(3) Amendment notification(4)Amendment notificationUTILIZATION(3) PaymentBUYER(Applicant / Importer)SELLER (Beneficiary / Exporter)ISSUING BANK(Buyers Bank)ADVISING BANK(Sellers Bank)(1) Goods(6) Payment(5

57、) Payment(2) Documents(4) Documents(7) DocumentsMajor contents of a L/C (1) Name and address of the issuing bank.(2) Type of the credit. (revocable or irrevocable / transferable or confirmed credit)(3) Name and address of the beneficiary. (4) Amount of the credit and its currency. (5) Expiry date of

58、 the credit and its place to be expired. (6) Name and address of the applicant. (7) L/C number and date of issue. (8) Drawer and drawee as well as tenor (大意）of the draft. The drawer is always the beneficiary, the drawee may be the issuing bank or any other bank. (9) Full details of the goods.Major c

59、ontents of a L/C(10) Full details of the documents to be presented. (11) Partial shipment permitted / not permitted.(12) Transshipment allowed / not allowed. (13) Port of shipment and port of discharge. (14) Latest date for shipment, and the latest date for presentation of documents.(15) Instruction

60、s(指令） to the advising bank, negotiating bank or paying bank. (16) Other special terms and conditions.(17) The undertaking （保证） clause of the issuing bank. (18) The indication “ This credit is subject to (UCP 600)”Characteristics of L/C business1. A bankers credit 开证行承担第一性的付款责任.The issuing bank under