交大国际支付与结算讲义

1、International bank Remittance国际银行汇兑Some key points:1. Methods, parties and procedures of remittance2. Advantages and disadvantages of remittance3. Practice of remittance4. The function of remittance in international tradeNew words and expressions1. Remittance：汇款2. Correspondent：代理行3. Remitter：汇款人4.

2、Payee：收款人5. Domicile：住所6. Entertain：娱乐，招待，持有7. Subsidiary：辅助的， 补充的8. Solvency：偿付能力9.duplicate：副本10. Surrender：交出，放弃11.beneficiary：受益人12. Remitting bank：汇出行13. Paying bank：汇入行，解付行14. Telegraphic transfer：电汇15. Demand draft transfer：票汇16. Mail transfer：信汇17. Mail Remittance ：信汇18. Money order：邮政汇票，汇款单

3、19. Debit advice：借记通知单20. Payment order：支付委托书21. On ones own initiative：主动的22. Designated bank：指定银行23. Home country：母国24. Outward Remittance：汇出25. Inward Remittance：汇入26. Cash deposit：现金存款27. In line with：根据，按照28. Letter of indemnity：赔偿保证金书29. Cash before shipment：付款后装运30. Shipment at first settleme

4、nt later：先装运后结算31. Down payment：定金，首批付款32. In due course：在适当的时候33. Financial status ：财务状况34. Clearing account：清算帐户4.1 General Description汇兑方式概述In international trade, the settlement of claims and debts and the transfer of money are carried out by several methods of transmission.国际贸易中权利、债务结算和资金转移是通过几

5、种方式实现International remittance happens when a client(payer)asks his bank to send a sum of money to a beneficiary abroad by one of the transfer methods at his option. The beneficiary can be paid at the designated bank, which is either the Remitting banks overseas branch or its Correspondent.国际汇兑是指银行接受

6、客户（付款人）委托向其国外受益人转移资金的一种方式。受益人能在指定的银行（汇出银行海外支行或代理行）收款。That is to say, when remittance is adopted in international trade, the buyer on his own initiative remits money to the seller through a bank in accordance with the terms and time stipulated in the contract.汇款在国际贸易中被使用时买方根据合同定义的时间和条件主动把款项划拨到卖方银行。4.

7、1.1 Parties concerned and methods汇兑当事人及方式Parties involved in international bank remittance include the following:(1) The remitter: 汇款人The remitter is the person who requests his bank to remit funds to beneficiary in a foreign country. The remitter is also the payer.汇款人是要求银行把资金转移给国外受益人的人，就是付款人。(2) Re

8、mitting bank 汇出行Remitting bank is the bank transferring funds at the request of a remitter to its Correspondent or its branch in another country and instructing the latter to pay a certain amount of money to a beneficiary.汇出行是应汇款人要求通过其国外分支行或代理行把资金转移到国外并指示其支付一定金额给受益人的银行。(3)The payee收款人The payee (bene

9、ficiary) is a person who is addressed to receive the remittance(4)paying bank付款行paying bank is the bank entrusted by the remitting bank to pay a certain amount of money to a beneficiary named in the remittance advice.付款行是受汇出行委托按照汇款指示给受益人支付一定数额款项的银行。There are three basic ways for a bank to transfer f

10、unds for its client from the home country to abroad. They are mail remittance, telegraphic remittance and demand draft.1. Remittance by airmail信汇2. Remittance by cable/telex/SWIFT电汇3. Remittance by banks demand draft票汇1. Remittance by airmail M/T：信汇Remittance by airmail transfer funds by means of a

11、payment order, a mail advice, or sometimes an advice issued by a remitting bank, at the request of the remitter. It is more generally known as mail transfer or M/T.A payment order , mail advice or credit advice/ please debit advice（贷记/借记通知单） is an authenticated order in writing addressed by one bank

12、 to another instructing the latter to pay a sum certain in money to a specified person or a beneficiary named thereon.2. Remittance by cable/telex/SWIFT： T/TRemittance by cable/telex/SWIFT is often referred to as cable transfer or telegraphic transfer, namely T/T. It is exactly the same as a mail tr

13、ansfer, except that instructions from the remitting bank to the paying bank are transmitted by cable instead of by mail.（电报/电传通知代替信件通知）It is therefore quicker, but more expensive than mail transfer is. It is often used when the remittance amount is large and the transfer of funds is subject to a tim

14、es limit.（比信汇更快更贵，金额较大或时间紧迫）The only means of authenticating a cable transfer is the test key. However, remittance by SWIFT should be authenticated by SWIFT authentic key.（电报密押）3. Remittance by banks demand draft通过银行即期汇票（票汇）Remittance by banks demand draft is often referred to as demand draft(D/D).

15、A banks draft is a negotiable instrument drawn by a bank on its overseas branch or its Correspondent abroad ordering the latter to pay on demand the stated amount to the holder of the draft. It is often used when the client wants to transfer the funds to his beneficiary himself. The process of a dem

16、and draft is as follows:First of all the draft is drawn;（银行签发汇票）After the draft is drawn, it is handed to the remitter（交给汇款人）, who may send or carry it abroad to the person in whose favor it is drawn;（寄给国外收款人）Upon receipt of the draft, the payee namely the beneficiary can either present it for payme

17、nt at the counter of the drawee bank or collect the proceeds through his own bank for his account.收款人收到汇票后可以提示给受票银行柜台付款，也可以转帐到自己银行帐户上。4.1.2 Procedure 汇兑业务流程1. Procedure for M/T and T/T信汇和电汇2. Procedure for D/D票汇1. Procedure for M/T and T/TThe operations conducted by the remitting bank are called the

18、 outward remittance （汇出汇款）and those carried out by the paying bank are called the inward remittance（汇入汇款）. The procedure for bank remittance by mail or by cable usually comprise the following steps:(1)The remitter (a banks customer) makes out the necessary application form and gives his signed writt

19、en application to his bank instructing it to issue an M/T or T/T, indicating the beneficiary s full name, address and the name of beneficiary s banker(if any).汇款人向汇出行提出正式申请，指示它汇款，注目受益人全名、地址和受益人银行。This actually means that the remitter sends a written order to the remitting bank to pay the debit of re

20、mitters account or against cash deposit.实际意味着汇款人向汇出行发出书面命令，让其借汇款人的帐户或现金存款。(2)The remitting bank debits his customers account with the amount to be remitted together with its commission and expense (if any).汇出行借汇款人帐户的金额（包括佣金与其他支出）(3) The remitting bank issues a payment order to its branch or correspo

21、ndent in the place where the beneficiary is domiciled.汇出行给它分支行或代理行发出向指定受益人付款的命令。The payment order specifies the details of the payment:amount, name and address of the beneficiary , and name of the remitter.金额；受益人的姓名和地址，汇款人姓名。The payment order must be authenticated with the authorized signatures of t

22、he remitting bank.支付命令必须由汇出行的授权签字。(4)Upon receipt of payment order, the paying bank verifies the authorized signatures notifies the beneficiary, and pays to him the stated amount minus expenses charged by itself. 收到支付通知后，付款银行确认授权签字后通知受益人，然后扣除自己的费用后支付给受益人指定金额。(5)The paying bank claims reimbursement f

23、rom the remitting bank in accordance with latters instruction.付款银行根据后面的指示从汇出行得到偿付。The whole procedure virtually is done entries over banking accounts, where the buyers bank(remitting bank ) debits his account and credits the account of the correspondent instructions, the latter(the paying bank)passe

24、s a reciprocal entry over its account with the remitting bank and pays the money over to the exporter. The following diagram illustrates the procedures.整个过程实质上是通过银行帐户完成的，买方银行（汇出行）借买方帐户、然后贷代理行帐户；付款银行从汇出行收到资金后相应的支付给出口商。A simplified remittance diagramRemitterpayeeremitting bankpaying bank1.written appl

25、ication2.debit advice3. Payment order4.funds5.reimbursement claimFunds2.Procedures for D/D票汇流程The usually adopted Procedure for D/D is as follow:(1) A written request to issue a draft is made by remitter(a banks customer).汇款人向银行发出签发汇票的书面请求(2)The remitting bank(the draft-issuing bank)debits the custo

26、mers account with the amount of the draft plus bank commission(if any), issues a bank draft and hands it to the remitter.汇出行（签发汇票银行）借客户帐户票面金额加银行佣金，签发一掌银行汇票并交给汇款人。(3)The issuing bank sends an advice(a special letter of advice or a non-negotiable copy the draft)by airmail to the drawee bank, namely it

27、s overseas branch or its correspondent abroad, instructing the latter to pay it on presentation of the original draft as well as how to reimburse it. Nowadays most banks usually omit airmailing the advice to the drawee bank.出票行向受票银行发出通知（特别信函或不可流通转让的汇票副本），注明海外分支行或代理行名称，指示其为提示的汇票原件如何偿付。当今许多银行不再通过航空信件通

28、知受票银行。(4)The remitter forwards the draft to the payee.汇款人把汇票交给收款人。(5)The payee presents the draft to the drawee bank for payment.收款人提示汇票给付款银行。(6)The drawee bank verifies the signatures, pays the draft, and claims back the amount that is paid according to its agency arrangement with the remitting ban

29、k. If the signature can not be identified, the paying bank will only pay the draft on collection basis.受票银行确认签字后付款，通过代理行安排从汇出行得到偿付。如果签名不能鉴别付款银行仅仅按照托收基准协议支付。Remitterpayeeremitting bankpaying1.D/D application2.bank sight draft3. D/D advice4. bank sight draft5. bank sight draft6.payment7. Debit adviceA

30、 Demand Draft Diagram4.1.3 Advantages and disadvantage汇兑的利与弊1. Advantages优势Advantages of remittance by demand draft:票汇优势(1) demand draft can be used for paying small amount;即期汇票能用于小额款项支付(2) demand draft is a negotiable instrument,which can be transferred from one person to another by endorsement, so

31、 that it is more convenient in use for payment;汇票可以背书转让，支付更加方便(3)In time of war, one can transfer funds out of the enemy country by means of the demand draft in virtue of its negotiability战争期间通过即期汇票可以通过有效转让。把资金从敌国转移出来。Advantages of remittance by airmail:信汇优势It involves bank-to-bank instructions with

32、 banks responsible for making payments, so it is rather reliable.通过银行发出支付指示是相当可靠的。Advantages of remittance by cable:电汇优势(1)It is the fastest way to transfer funds;最快方式(2) It involves bank-to-bank instructions with banks responsible for making payments, so it is quite safe,especially when large amoun

33、t is transferred.通过银行发出大额支付指示是相当安全的的。2. Disadvantages劣势disadvantages of remittance by demand draft:票汇缺点(1) As a remitter himself is responsible for mailing the demand draft its transmission is slower than that of T/T and can not serve the purpose of quick payment;比电汇慢(2)It is possible for a demand d

34、raft to be lost, stolen or destroyed. The remitting bank is generally reluctant to stop payment on a draft issued by itself for this would mean an act of dishonor on its part which will have an unfavorable effect on its credit-worthiness. To stop payment on lost draft is time consuming.汇票可能遗失、被盗窃或毁坏

35、。汇出行签发出的汇票不被支付会影响其资信。去停止一张遗失汇票的支付也是很浪费时间的。disadvantages of remittance by airmail:信汇缺点(1) It is possible for the mail transfer order to be delayed or lost in the post, thus causing difficulty for its payment.支付命令延迟或遗失引起支付困难(2) As the mail transfer exclusively depends on international airmail service,

36、 its transmission is slower than that of T/T and cannot serve the purpose of quick payment.完全依赖国际邮政服务，速度较慢(3) Unlike the remittance by demand draft, the beneficiary must await notification from the bank concerned.必须等到银行通知才能付款。disadvantages of remittance by cable:电汇缺点(1) It is more expensive as compa

37、red with M/T or D/D, but if the amount transferred large, the interest cost which should be otherwise incurred due to time delay can be served.昂贵(2) The beneficiary must await notification from the bank concerned.必须等到银行通知才能付款。SummaryThe advantages and disadvantage of the three methods of three metho

38、ds of fund transfer have to be balanced when transferring funds.Generally speaking, airmail remittance is less than T/T or D/D nowadays, except for small amount remittances made by individuals for family maintenance, cash gift,etc.（只有小额用信汇）T/T is favorable to the seller. He can get money at an early

39、 date, speed up the turnover of funds, increase the e of interests and avoid the risk of fluctuation in the exchange rate.（电汇可以减少利息损失和避免汇率波动风险）However, the buyer has to pay more cable expenses and bank charges. Therefore, if T/T is not definitely stipulated in the transaction, the buyer makes paymen

40、t only by M/T .买方付更多银行费用，如果合同没有明确电汇，买方用信汇。Sometimes the amount of payment is comparatively large, the money market fluctuates greatly and the currency of settlement being used is likely to devaluate. In these cases, T/T is preferable, and T/T should be definitely stipulated in the contract. However,

41、 the seller should prevent the buyer from forcing the contractual price down under the pretext of bearing more expenses.如果金额大且汇率波动较大最好在合同中定义用电汇。买方防止买方因为会对费用增加要求降价。A large number of international remittances are carried out by munications. SWIFT, an automated payment system, is commonly used among me

42、mber banks, which provides the member banks with faster, safer, cheaper, and more reliable handling of their customers transactions.大额国际汇款一般用SWIFT，会员银行间的自动支付系统，为会员银行提供最快、最安全、廉价和可靠的处理方式。Swiftness, reliability, safety, and inexpensiveness are major advantages of transactions by means of SWIFT messages

43、.迅速、可靠、安全和廉价是SWIFT传递信息的优势。4.2 Practice of remittance国际银行汇兑实务4.2.1 remitting banks procedure 汇出行的操作The remitting bank, at the remitters request, sends M/T advice or payment order(in M/T ), or a telegram or a telex with test key enclosed(in T/T ) to the paying bank as a payment authorization, directin

44、g it to offer the funds to the payee on behalf of the remitter.在汇款人的要求下，汇出行发出一个信汇通知或支付命令，或者电汇的电报密码授权付款银行直接向收款人提供资金。4.2.2 Paying banks procedure汇入行的操作Under telegraphic transfer, the paying bank, having received the cable and verified the test key, will make payment to the payee in accordance with the

45、 instruction, and will give a reply of debit advice to the remitting bank in line with the nostro account procedure between the two correspondents.付款银行收到电报或验证密押后，根据指示向收款人付款，向汇出行发出借记其 “nostro”帐户的通知。4.2.3 Reimbursement methods偿付方法There are varieties of reimbursement methods.(1) Crediting vostro accoun

46、t of the paying bank(2)Debiting remitting banks nostro account借 汇出行“nostro”帐户(3)Instructing a reimbursing bank to effect payment by debiting the remitting banks nostro account.通过借 汇出行“nostro”帐户通知偿付行付款(4) Instructing the paying bank to claim reimbursement from another branch of the same bank or anoth

47、er bank with which the remitting bank opens an account.通知付款银行向汇出行分之行或其他有帐户银行索偿 (5) According to the payments agreement between two countries.根据两个国家支付协定(1) Crediting vostro account of the paying bank贷解付行来帐If the paying bank opens a current account with the remitting bank, the reimbursement instructio

48、ns should be written as:如果付款行在汇出行开立帐户，偿付指示应该是：“In cover, we have credited the sum to your account with us”作为偿付，我行已将汇款金额贷记你行在我行的帐户。(2)Debiting remitting banks nostro account借记汇出行的往帐If the paying bank maintains the remitting banks account, the reimbursement may be instructed as:“Please debit the sum t

49、o our account with us”请借我们帐户，贷你的帐户一定金额。“You are authorized to debit the sum to our account with you”你已被授权将汇款金额借我行在你行的帐户After effecting payment, the paying bank debits the sum to the account of the remitting bank with them.有效支付后解付行借记汇出行在你行的帐户(3)Instructing a reimbursing bank to effect payment by debi

50、ting the remitting banks nostro account.指示偿付行借记汇出行的往帐来偿付解付行If the remitting bank does not open an account with the paying bank, the former may instruct its correspondent with which it maintains an account, to debit this account and credit the paying banks account if the paying bank has an account wi

51、th that correspondent, too, or to pay the amount to another bank with which the paying bank maintains an account.如果汇出行没有在付款行开帐户，但是如果付款行在其代理行有帐户，可以让代理行借它的帐户、贷付款行帐户。或者付款给一个付款行在那里开帐户的银行。“In cover, we have authorized the bank of Tokyo, Now York to debit our account and credit your account with the above

52、 sum”作为偿付，已经授权东京银行纽约分行借记我行帐户、贷记你行帐户。“In cover, we have instructed the bank of Tokyo, Now York to pay the proceeds to your account with The Standard Chartered Bank, Now York ”作为偿付，已经指示东京银行纽约分行付款到你行的渣打银行纽约分行帐户上。(4) Instructing the paying bank to claim reimbursement from another branch of the same bank

53、 or another bank with which the remitting bank opens an account.指示解付行向同一银行的另一分支行或汇出行开立帐户的银行索偿The instructions are written as:“In cover, please reimburse yourselves to the debiting of our account with The Bank of Tokyo, New, York”作为偿付，请借我们在东京银行纽约分行的帐户偿付。“In cover, please claim on The Bank of Tokyo, N

54、ew, York”作为偿付，请向东京银行纽约分行索偿。(5) According to the payments agreement between two countries.两国有支付协议In case there is a payment agreement signed by two countries concerned, the reimbursement instructions must abide by the terms in that agreement. The instructions are thus:“In cover, you are authorized to

55、 debit our Central Banks clearing account with your Central Bank”作为偿付，你被授权借记我行在中心银行帐户，贷记你行中心银行帐户“In cover, we have requested our Central Bank to credit the sum to the clearing account of your Central Bank”作为偿付，我们已经请求中心银行贷你行在中心银行帐户。4.2.4 Cancellation of the remittance汇兑的取消1. Cancellation of mail tran

56、sfer or telegraphic transfer取消信汇和电汇2. Cancellation of a bank draft already issued取消已发行的汇票1. Cancellation of mail transfer or telegraphic transferMail transfer or telegraphic transfer can be cancelled before its payment is made. It is usually done at the request of the remitter or the payee who refus

57、es to receive the payment.汇款被解付前可以应汇款人要求或收款人拒绝而取消。Whenever the paying bank receives an advice from the remitting bank to cancel the latters payment order, it will do so accordingly.当付款银行收到汇出行取消汇款命令。Once the payment has been made, the remittance cannot be cancelled. The remitter himself may contract

58、the payee to claim back the remittance payment.一旦汇款被被解就不能取消，汇款人只能自己和收款人协商。2. Cancellation of a bank draft already issuedIf the remitter requests the remitting bank to cancel a bank draft already issued by reason of its being lost or stolen（丢失或盗窃）, the latter is generally reluctant to do so because t

59、he remitting bank assumes the responsibility of guaranteeing the drafts payment once it is issued.However, the remitting bank may issue a duplicate of draft（副本） against a letter of indemnity from the remitter, if the paying bank confirms that the original one not yet been paid.4.3 The function of re

60、mittance in international trade汇兑在国际贸易中的功能In international trade, remittance as a settlement of claims and debts, according to the time of shipment and of payment, falls into two categories: the so called”cash before shipment”付款后转运（预付） method and “shipment at first settlement later” 转运后付款（赊销）method.