国际结算期末复习资料解读

1、国际结算期末考D/Pdocuments against payment付款交单D/Adocuments against acceptance承兑交单T/RTrust Receipt信托收据B/Lbill of lading提单L/CLetter of Credit信用证FCAFree Carrier货交承运人FASFree Alongside Ship装运港船边交货FOBFree On Board装运港船上交货CFRCost and Freight成本加运费CIFCost Insurance and Freight成本加运费、保险费CPTCarriage Paid to运费付至CIPCarri

2、age Insurance Paid to运费、保险费付至DAFDelivered At frontier边境交货DESDelivered Ex Ship目的港船上交货DEQDelivered Ex Quay目的港码头交货DDUDelivered Duty Unpaid未完税交货DDPDelivered Duty Paid完税后交货EXWEX Works工厂交货T/TTelegraphic Transfer电汇汇款M/TMail Transfer信汇汇款D/DRemittance by Banker s Demand Dra票ft汇 汇款URCUniform Rules for Collect

3、ion托收统一规则M.T.DMulti-modal transport document多式联运提单UCP The Uniform Customs and Practice for Documentary Credits 跟单信用证统一惯例ICC International Chamber of Commerce 跟单信用证项下银行偿付统一规则 名词解释：国际结算： International payments and settlements are financial activities conducted among different countries in which paymen

4、ts are effected or funds are transferred from one country to another in order to clear relations of debts.汇票： A bill of exchange is defined officially as an unconditional order in writing , addressed by one person to another, signed by the first person, requiring the second person to whom it is addr

5、essed to pay on demand, or at a fixed or determinable future time, a certain amount of money, to, or to the order of, a specified person or to the bearer.本票：A promissory note is an unconditional promise in writing made by one person (the maker) to another (the payee or the holder), signed by the mak

6、er engaging to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order ofa specified person or to bearer.信用证： A letter of credit is a written undertaking by a bank(issuing bank)given to the seller (beneficiary) at the request ,and on the instruction, of th

7、e buyer(applicant)to pay at sight or at a determinable future date up to a stated sum of money, within a prescribed time limit and against stipulated documents which complied with the terms and conditions of the credit.支票： A check is an unconditional order in writing addressed by the customer to a b

8、ank 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.汇付： Remittance refers to the transfer of funds from one party to another among different countries through banks. At the request of its customer, a bank transf

9、ers a certain sum of money to its overseas branches or correspondent banks and instructs them to pay a named person or corporation domiciled in that country.托收： Collection is an arrangement whereby the goods are shipped and a relevant bill of exchange is drawn by the seller on the buyer, and/or ship

10、ping documents are forwarded to the seller s bank with clear instructions for collection through one of its cpornrdesent bank located in the domicile of the buyer.计算题一、 The Amount the Exporter Can Get? P44Suppose an accepted bill for USD50, 000 falls due on June 30 and the exporter takes it to a dis

11、count bank on April 6. If the discount rate is 10%, the discount interest is?Issue： July 30 Value：50000 USDInterest rate ：Tenor：Accept：Discount rate ： 10 %D=V T R / 360D=DISCOUNT INTEREST V=FACE VALUE OF THE BILLT=TENOR(DAYS)R=DISCOUNT RATE(N%PER ANNUA每M年 )The Amount the Exporter Can Get?P45Issue： J

12、uly 30 2008Value： 10000 RMBInterest rate ： 8 %Tenor： 3 monthsAccept ：August 27Discount rate ： 10 %贴现日： 3.9 到期日： 7.12Suppose an accepted bill for USD80, 000 falls due on July 12 and the exporter takes it to a discount bank on March 9. If the discount rate is 5%(year), what would be the discount inter

13、est and how much can the payee get?天数： 125 天到期价值（ 800005125）/ 360 1388.89 元The Payee Can Get 80000 1388.89 78611.11 元问答题：信汇、电汇、票汇的特点 Telegraphic Transfer, T/T 电( 汇汇款 )It is a kind of remittance( 顺汇 ).It is the fastest type but the charges are higher.In bank remittance, the T/T is in preference to ot

14、hers. It is dealt on the same day and the bank can ut se the funds under way.It is safe and creditable.Mail Transfer, M/T ( 信汇汇款 )It is a kind of remittance( 顺汇 ).The charge is low.It is the slower type and because of mail,it will spend more time to receive the money.Bank can occupy the funds under

15、way for a short time.Demand Draft, D/D (票汇 )The paying bank is flexible.The draft can replace the cash to be negotiated.The draft is carried by the remitter himself or is posted by the remitter to the payee.The paying bank needn tn otifies the beneficiary and the latter will come to receive the mone

16、y.Chapter of COVERNostro Account 往账：A bank account conducted by a British bank with a foreign bank, usually in the foreign currency.Vostro Account 来账： A bank account held by a foreign bank with a British bank, usually in sterling.Reimbursement Methods 拨头寸的方法（课堂要求掌握前两种，余下四种看课件）Crediting vostro accoun

17、t of the paying bank 主动贷记：如果汇入行在汇出行开有账户，汇出行应主动将相应头寸贷记该账户。开户行paying bankpayment order 支付委托书账户行 remitting bankcredit advice 付讫的贷记通知etc: In cover, we have credited the sum to you re a/c with us.寄出贷记报告单称已贷记汇入行账户。Debiting remitting bank s nostro account授权借记：如果汇出行在汇入行开有账户，汇出行应授权汇入行借记该账户相应的金额。payment order

18、 支付委托书开户行 账户行 remitting bank paying bank debit advice 付讫的借记通知etc: In cover, please debit our a/c with you.(You are authorized to debit the sum to our account with you.) 寄出借记报告单称已借记汇出行账户。Functions of Negotiable Instrument 流通票据的功能 P39As a means of payment;As a credit instrument;3）As a transferable ins

19、trument;4）As a means of finance.Basic Methods of International Payments and Settlements: 1） Settlement on commercial credit: remittance（ 汇 付 ） ： A. payment advance B. open account collection（ 托收 ）2） Settlement on bank credit ： letter of credit（ 信用证 ） bank guarantee（ 银行担保 ）in2)3)4)The obligation of p

20、ayment born by the bank is limited and conditionalA letter of credit is self-sufficient documents and is independent of the sales contractLetter of credit is a pure documentary business, that is, banks deal with documents and not with goods, services or other performances to which the documents rela

21、te.5.Characteristics of Collection托 收的特点1)It is based on commercial credit7.2)The capital burden is not balance3)It is safer than the remittance1)4)It can afford financing to the seller orbuyer5)The procedure is simple, fast and thecharges are not high.Principles in examining documents 审单的原则单 证 相 符

22、： The name, content and signature of the documents presented should be in conformity with the terms and conditions of the credit. Any small discrepancy is possible to become the reason for refuse.单单相符： The documents should be in conformity with each other.6. Characteristics of Letter of Credit信用证2 ）

23、的特点1） It is a kind o f banker s credit. The issuing bank undertakes primary liabilities for payment实际操作题（填表类）汇票 Bill Of Exchange P45 P63-5-6No. , Date.EXCHANGE FORAtsight of the First of Exchange, second of the same tenor and dateunpaid, pay to the order of the sum of Drawn underTo:For and on behalf

24、 of XXX（Signature）Exchange for , DATEAtsight of the First of Exchange, second of the same tenor and dateunpaid, pay to the order ofthe sum ofDrawn againstTo:For and on behalf of XXX(Signature)ACCEPTEDTIME(SIGHT)Payable atFor(Signature)Question:汇票期限 到期日At 30 days after sightAt 30 days from sightAt 30

25、 days after dateAt 60 days after dateAt one and half, a month after date2. 本票 Promissory Note P49 P63-7Promissory NoteForOnthe sum offixed by the promissory note we promise to payFor and behalf of(Signed )Cheque No.Pay to the sum of(Signature)On 18, March 2009, Bank of China, Guangzhou Branch receiv

26、ed a mail transferpayment order from Bank of China Hong Kong. Please complete the forms.BANK OF CHINA, HONG KONG BRANCHDATE, HONG KON Please advise and effect the following payment less your charges if any. In cover, we havecredited your account with us.TO BANK OF CHINA,GUANGZHOUNo. of Mail Transfer

27、To Be Paid ToAmountMTXXXXRuiqi Garment Co. Ltd, Guangzhou No. XXXXHKD200,000.00Amount in words: H.K DollarsMessage: Being Proceeds underTwo Hundred Thousand S/C No. XXX By Order Of Universal GarmentImp. & Exp. Co. Hong KongBand of China, Hong KongPaying Bank:Remitting Bank:Payee:Remitter:The proceed

28、s is used for:Currency and Amount:Cover Instruction:QUESTION: A draft N0.426898 for USD100, 000.00 is drawn by The American Exporter Co. 17 Main Street Tampa, Florida, U.S.D on The French Issuing Bank, 38 rue Francois ler, Paris, France payable at 60 days sight to the order of ourselves dated 25 Mar

29、ch, 2000 marked “ Darwn under The French Issuing Bank, Paris, France L/C N0.12345 dated 25 Feb., 2000 ”.Bill of exchangeNo.1 2 Exchange for 3 At 4_ Sight of this first of exchange (SECOND BEING UNPAI)DPay to(the order of ) 5The sum of 6Drawn Under 7L/C NO.8 Date 9 To 10signature )A：A： 1 20060613 2HK

30、D 32,150.00 3 Tianjin, 8 May, 2009 4 Bank of China, Hong Kong 5The order of United Trading Company, Hong Kong 6Hong Kong Dollar Thirty-Two thousands one hundred and fifty only 案例分析CASE 1：Chinese company A concluded a purchase contract with a Belgium company for some goods. The contract require that

31、the goods should be Grade M or above and that the exporter should surrender certificate which verify that the goods has reached Grade M. But A didn ret quest certificate of Grade M in the L/C opened by him.After delivery, A took the delivered goods before paying. Then A found that the goods didn rea

32、ch Grade M and asked the local quarantine to give a testification. A held the testification to demand the opening bank to dishonor.QUESTION:1.Should the opening bank dishonor the L/C ？ 426898 Please statement the reason.25 March, 2000 Tampa, Florida ANSWER: $100,000 The issuing bank should not disho

33、nor.60 days Though the bank knows the fact that the seller fail to implement all the conditions of theThe American Exporter Co. Inc. contract wholly, the bank must make payment.US Dollars one hundred thousand only 7The French Issuing Bank, Paris 812345 925 Feb, 200010The French Issuing Bank11The Ame

34、rican Exporter Co.38 rue Francois ler 75008 Paris, France17 Main Street Tampa, FloridaQUESTION: Please draw a demand draft to make remittance by D/DDraft: No.20060613 Amount: HKD32, 150.00Place and date of draft: Tianjin, 8May, 2009 Paying bank: Bank of China, Hong Kong Payee: the order of United Tr

35、ading Company, Hong Kong Pay against this draft to the debit of our account. Remitting bank: Bank of China, TianjinRemitter: China National Light Industrial Products Imp. & Exp. Corp., Tianjin Branch, Tianjin BANK OF CHINANot NegotiableNO. 1 Account PayeeAMOUNT 2 This draft is valid for one year fro

36、m date of issue 3 To: 4 Pay to 5THE SUM OF 6 PAY AGAINST DRAFT TO THE DEBIT OF OUR ACCOUNTFor BANK OF CHINA, TIANJIN SignatureAccording to the principle that L/C is an independent contractual document and the operation of L/C is based on documents, the bank must make payment as long as the seller su

37、rrenders the accordant documents.CASE 2：One of Japanese company opened an irrevocable L/C on the request of its customer. The exporter was in Guangzhou. The L/C stipulates that the negotiating bank can be repaid by the opening bank s New York branch. One bank in Guangzhou negotiated the draft, forwa

38、rded the documents to the opening bank and get payment from the reimbursing bank.On the 4nd day, the opening bank said that there were discrepancies between the documents and L/C and asks for the repaid amount. The negotiating bank confirmed the discrepancies but the beneficiary said that the opener

39、 had taken the goods without the bills of lading.QUESTION:Can the negotiating bank refuse to pay the money back to the opening bank? Why?ANSWER:The negotiating bank cant refuse to pay back the money.L/C is based on document. The parties concerned deal with documents rather than goods or facts. If th

40、e document presented is not in conformity with the L/C, the beneficiary can get payment.CASE 3：One of our companies exported 5000 tons of rice. The L/C stipulated that 1000 tons was shipped every month from January to May. The seller shipped 1000 tons separately during January and February but there

41、 was no shipment in March because of lacking of goods. Then the exporter shipped 2000 tons and 1000 tons separately in April and May.When the exporter negotiated the shipping documents, the bank refused to pay the 3000 tons shipped in April and May because the shipment in March was not in accordance

42、 with the stipulations of the L/C.Question:Was the bank correct? Why?ANSWER:The bank was right.Because according to the Uniform Customs and Practice of Documentary Letter of Credit, if partial shipments stipulate definitely the number of lots, time and quantity of every lot, the seller should exactl

43、y conform to the stipulation. If the seller doesn t conformto the stipulation in a certain period, the period together with the following will be invalid automatically.选择题To the exporter, the fastest and safest method of settlement is cash in advance.To the importer, the fastest and safest method of

44、 settlement is open account.Under a letter of credit, the exporter can receive the payment only when the documents presented comply with the credit terms.Which of the following is based on commercial credit?Collection（托收）There are four main methods of securing payment in international trade: payment

45、 inadvance; payment under documentary credit; c ollection;op en account .From anexporter s point of view, the order of preference is .The documentary collection provides the seller with a greater degree of protection than shipping on open account （ 赊账交易 ）。Foreign trade can be conducted on the follow

46、ing terms except for public bonds.Cash settlement is effected by shipping precious metals（贵金属 ）taking the form of coins, bars or bullions.International cash settlement has the following disadvantages except safe.（即包括 expensiveriskytime-consuming）If a bill is payable“60 days after date”, the date of

47、payment is decidtheed daaccteo rding toof the bill.A term bill may be accepted by the drawee.The party to whom the bill is addressed is called the drawee.The maker of a promissory note has prime liability while the other parties have secondary liability.A （n） bill of exchange is a financial document

48、.Demand draft（即期汇票 ） is often used when the client wants to transfer the funds to his beneficiary himself.If the paying bank opens a current account with the remitting bank, the reimbursement maybe effected by crediting vostro account of the paying bank（ 主动贷记 ）If a London bank makes a payment to a c

49、orrespondent abroad, the foreign bank vso stro account will be credited.（ 贷记）If Barclay Bank instructs Citibank to pay a sun of USD2,000,000 to Midland, its nostro account should be debited（ 借记）.Suppose that a UK firm which is to pay a debt to a West German supplier in Deutschmarks.The firm will giv

50、e a written instruction to its bank in the UK to issue a mail transfer. Then theUK bank debit the UK firms account as authorized.The principal is generally the customer of a bank who prepares documentation and submits them to the remitting （托收） bank with a application for payment from the buyer （dra

51、wee）.Which type of collection offers the greatest security to the exporter? Documents against payment.即期付款交单Which of the following is not a risk that the exporter assumes on documentary collection basis? B. harm to the reputation due to dishonorPS: t a risk that the exporter assumes on documentary c

52、ollection basis: A. non-acceptance of merchandiseC. exchange restrictions D. non-payment of trade acceptanceThe remitting bank is the bank of which the principle has entrusted the collection.The importance of the distinction between financial documents and commercial documentslies in that it helps d

53、ecide whether it is clean collection or documentary collection.Letter of credit is a conditional undertaking to make payment.With an unconfirmed irrevocable letter of credit, the advising bank transmits detail without commitment to the beneficiary.A confirmed irrevocable letter of credit creates the

54、 highest level of security against sovereign risk 政治风险 .Confirmation of a credit may be given by the advising bank at the request of the issuing bank.The sum of the transferred credit is will not be more than in the credit before transfer.In addition to stipulating an expiry date for presentation of

55、 documents, every credit should also stipulate a specified period of time after the date of shipment during which presentation must be made. If no such period of time is stipulated, banks will not accept documents presented to them later then 21days after the date of shipment.If a credit stipulating

56、 total amount available is about USD100, 000.00, then bank will refuse the invoice that bears the amount of C. PS:若没有 “ about则默认为 15%的增减幅度。USD100, 000.00 B. USD100, 500.00C. USD120, 000.00 D. USD99, 900.00The advising bank informs the beneficiary another bank has issued a credit in his favor without

57、 adding its own engagement.In a letter of credit, the bank pays the seller for documents which agree with the credit.J.A. Smith applies to his bank for a letter of credit. The bank issued the credit and mails it to C. Thomas. Mr. Smith is the application.Which of the following transport document is

58、negotiable 可流通转让 ? Marine bill of ladingThe bill of lading is evidence of ownership. it thus functions as a title document （物权凭证） .A commercial invoice is a statement describing the merchandise, its cost and shipping charges.The minimum amount of the insurance cover under the letter of credit must b

59、e 110% of CIF value.填空题Settlement on commercial credit usually includes payment in advance, open account, remittance and collection.Settlements on bank credit include letter of credit and bank guarantee.Before the sixth century B.C., goods were exchange between traders in different countries on a ba

60、rter basis.The shipment of gold or silver across national boundaries was both expensive and risky.If the paying bank maintains the remitting bank asc count, the reimbursement may be effected by debiting remitting bank s nostro account.Under documents against acceptance, the buyer gains possession of