国际结算全集合155P课件

1、International SettlementWangshuChapter One IntroductionConcept Category EvolutionPlayers and theirs rolesFactors in payment decisionsCharacteristics and developing trendCorrespondent banking relationship the financial activities conducted among different countries in which payments are effected or f

2、unds are transferred from one country to another in order to settle claims and debts,emerged in the course of political ,economic or cultural contacts among them. Meaning of International SettlementNegotiable intsruments(票据): bills of exchange, promissory notes, checksPayment techniques: remittances

3、,collections, letters of credit, bank guarantees, international factoring and forfaitingDocuments: bills of lading,insurance policies, certificates of origin, etcFrom cash settlement to non-cash settlementFrom goods trading to documents tradingFrom direct payment between traders to payment effected

4、through a financial intermediary safety, high efficiency, low cost, standardization Electronic settlement SWIFT CHIPS CHAPS FEDWIRE TARGETEvolution of international settlement SWIFT(Society for worldwide interbank financial telecommunication)环球同业银行金融电讯协会 特点:标准化;安全可靠,自动加核密押;高速度,低费用. 业务分类:客户汇款(custome

5、r transfer);银行头寸调拨(bank transfer);外汇业务(foreign exchange confirmations);托收业务(collections);证券业务(securities);贵金属和银团贷款业务(precious metals and syndication);信用证和保函(documentary credits and guarantees);旅行支票(travelers cheques);银行帐单处理业务(statements). To exporters: protection against non-payment risks by the imp

6、orters, such as: commercial risks, financial risks; political risks; risks in control of title to the goods,etc. convenience; cost; commercial competitivenessFactors in the payment decision1. the scale and scope of international settlement get greater and greater2. International lending and financin

7、g is closely combined with international payments3. On the basis of international customs and practice4. International guarantees applied to international settlement5. More diversified vehicle currencies 6. The proportion of commercial credit in international settlement gets bigger7. A much facilita

8、ted international banking network connected with electronic telecommunicationCharacteristics and developing trendCorrespondent bank 代理行 the basis for cooperation of commercial banks all over the world to fulfill international settlement “a bank having direct connection or friendly service relations

9、with another bank.” Selecting a correspondent bank: reputation and creditworthiness; size and financial status; location; services offered by it; polices and strength of itCorrespondent banking relationship The establishment of a correspondent bankCorrespondent arrangementControl documents控制文件Specim

10、en of authorized signatures授权签字样本Telegraphic test key/SWIFT authentic key密押Schedule of terms and conditions费率表Chapter two Negotiable instrumentsGeneral introductionBill of Exchange/DraftPromissory NoteCheckWhat is a negotiable instrument? Forms of circulationCharacteristics of negotiable instruments

11、Functions of negotiable instrumentsParties to a negotiable instrumentTitle to a negotiable instrumentNegotiable instrument lawsGeneral introduction 过户转让（assignment）非流通 特点：书面形式 转让通知原债务人或登记过户 受让人权利受前手缺陷的影响 当事人：转让人、受让人、原始债务人交付转让(transfer) 准流通或半流通特点：交付背书转让 不通知原债务人 受让人的权利受前手权利缺陷的影响 当事人：转让人，受让人 流通转让(negot

12、iation) 完全流通特点：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100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30元未还，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？如是字据，按民法原则，丙可采取将其对乙的30元债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，而不能用乙的权利缺陷来对抗丁的正当票据权利案例分析 1997年8月，某市A公司与新加坡B商签订了一份进口胶合板的合同。合同总金额为700万美元，支付方式为付款交单，允许分批装运。第一批价值为60万美元的胶合板准时

13、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商向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700万美元的汇票，请中国人民建设银行某市分行承兑。承兑后，我方保证将700万美元的胶合板在一年内交货。贵方全部收货后，再付给我方700万美元的货款。A公司以为现在不付款，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商的建议，给B商签发了一张见票后一年付款700万美元的汇票。但A公司始料不及的是，B商将这张承兑了的远期票据在新加坡的美国银行贴现600万美元。从此却一张胶合板都不交给A公司。

14、事实上，B商将这笔巨款骗到手后便无影无踪了。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600万美元而结案。对于这张远期票据，A公司为出票人，B商为收款人，建行某市分行为付款人。A公司与B商之间的胶合板买卖合同是该票据的原因关系，使得A公司愿意向B商开立这张汇票。A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愿意向A公司提供信用，承兑了这张远期汇票。美国银行与B商之间有对价关系，美国银行善意地付了60

15、0万美元的对价而受让，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商实际上没有交货，或者A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，这张票据上并没有写胶合板，只有一句话：“见票后一年付700万美元”。票据法律关系应依票据法的规定加以解决，票据基础关系则应以民法规定加以解决。B商正是利用了票据的特性才行骗得逞的。举例：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偿还原欠丙的借款，丙于到期日向承兑

16、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，并称已于10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。你认为法院将如何判决？ 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。 支付工具payment instrument流通工具transferable instrument信用工具credit instrument融资工具financing instrument Functions of negotiable i

17、nstrument出票人drawer 付款人payer/drawee 收款人payee 背书人endorser 承兑人acceptor 持票人holder Parties to a negotiable instrument正当持票人/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 d

18、ishonor, if any;The holder took it in good faith and for value;The holder did not notice any infirmity in the instrument or defect in the title of the person negotiating it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 p

19、rior to him in forms of money, goods,or services.Claim for payment(第一次请求权，主权利)Recourse (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 instrumentBritish law UK Bills of Exchange Act of 1882 US Uniform Commercial Code of 1962

20、, Article 3French and German lawUniform 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 Notes and Convention Providing a Uniform law for International Checks United Nations 1988Negoti

21、able Instrument Law of Peoples Republic of China Negotiable instrument lawssection 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 dema

22、nd or at a fixed or determinable future time a sum certain in money to or the order of a specified person or to bearer. definition汇票是由一个人（drawer）向另一个人签发的(drawee)/受票人无条件的unconditonal书面命令order in writing要求其在见票时或在未来某一规定的或可以确定的时间(tenor)将一定金额的款项支付给某一特定的人或指定的人，或持票人(payee) Absolutely necessary itemsRelativ

23、ely necessary itemsItems at willEssential items required in a bill of exchange出票（Issue）背书（Endorsement）提示（Presentation）承兑（Acceptance）保证（Guarantee or Aval）付款（Payment）拒付（Dishonor）追索（Recourse）参加承兑和参加付款（Acceptance/Payment for honor)Acts relating to a bill of exchangeAccording to the drawer: Bankers draft

24、 and traders draftAccording to the acceptor: Bankers acceptance and traders acceptanceAccording to the tenor Demand draft/sight draft and time/usance draftAccording to whether commercial documents are attached thereto Clean draft and documentary draftClassification of bills of exchangeDiscounting of

25、 a bill of exchangeAccommodation bill融通汇票Practice of bills of exchangeDiscounting is to sell a time bill already accepted by the drawee but not yet fallen due to a financial institution at a price less than its face value.Calculating formula： D=Vtd/360 N= V- D D:discount interest V:face value t:teno

26、r d:discounting rate(n% p.a.) N:net proceeds Creditworthiness:Standing of the drawer and the accepterDrawn clause showing the reason for issuing the draft Discounting of bills of exchange 被融通人开出融通汇票，没有付给对价，要求融通人（高资信的非债务人）承兑汇票（提高汇票的信用身价以便贴现），再交给贴现人予以贴现，获得票款；等到汇票到期日前，被融通人应把足额票款交给承兑人，此时贴现人向承兑人提示要求付款，承兑

27、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。Accommodation bill图示 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。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 at 60 days after sight to t

28、he 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 partly shown as follows: excha

29、nge 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 9% per annum. Please calculate

30、 discount amount and net proceeds. ExercisesExchange 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 Feb., 2006” To The French Issuing B

31、ank. 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,2006Discount amount:1250060/365 9/100=184.93 Net Proceeds=12500-184.93What is a promissory noteEssential item

32、s of a promissory noteThe difference between a bill and a noteTypes of notesPromissory 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 promise in writing made by one person to another, signed by the maker, engaging to p

33、ay 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 Promissory note The word “promissory note”An unconditional promise to payName of th

34、e payeeSignature of the makerPlace and date of issueTenorA sum certain in moneyPlace of paymentEssential items of a promissory note An order to pay & a promise to payBasic parties involved:three-party instrument &two-party instrument Forms :in a set& one copyActs involved: for a promissory note, nev

35、er acceptedMain obligor: for a draft, the drawer is primarily liable for payment before acceptance, but after acceptance the acceptor becomes primarily liable for payment. for a promissory note, maker is always primarily liable for payment.When dishonor, protest is needed for foreign bill but not fo

36、r promissory note. difference between a bill and a noteTraders notesBankers notes国际小额本票（International Money Order） 旅行支票（Travellers Cheque）中央银行本票（Central Bankers Notes）Negotiable certificates of deposit Various bondsTypes Concept and essential itemsDifference between a bill and a chequeTypes Cheques

37、出票人签发的，委托办理支票存款业务的银行或其他金融机构在见票时无条件支付确定金额给持票人或收款人的票据。 A check is a bill of exchange drawn on a bank payable on demand; A check is an unconditional order in writing, signed by the person giving it, requiring the bank to whom it is addressed to pay on demand a sum certain in money to, or to the order o

38、f , a specified person or to bearer. Concept and essential itemsCheck-payment instrument&bill-payment and credit instrumentActs:certified and crossedLimitations on the drawer and drawee: for a check, the drawee must be the bank with which the drawer opens a checking accountA check can be cancelled b

39、efore payment while for a bill, the payment is irrevocable after acceptancein a set& one copy Difference between a bill and a cheque划线支票（crossed check):a crossing is in effect an instruction by the drawer or holder to the paying bank to pay the fund to bank only instead of over the counter of the pa

40、ying bank. 现金支票(open check) 保付支票（certified check)Types A check is certified by the drawee bank. Once a check is certified by the drawee bank, all other obligors on the check will be discharged of the liability of the payment. 保付&保证：保付只是支票的行为，保证是三种票据的共同行为保付只能由支票的付款人作出，保证人则可是除票据债务人以外的任何人保付人成为绝对的债务人，出票

41、人和背书人的责任便免除，保证人和被保证人都是汇票的债务人全额保付支票保付人向持票人支付了支票金额，票据关系消灭，保证人支付后，还可向被保证人和其前手追索Certified checksThe word “exchange”An unconditional order to pay A fixed amount of moneyName of the payee 1)限制性（Restricted Order） 不能流通转让,只有汇票上指定的收款人才能接受票款 e.g.pay to *only;not tranferrable 2)指示性（Demonstrative Order） 可经背书转让 p

42、ay to the order of */pay to * (or order) 3)来人抬头（我国不允许）pay to bearerAbsolutely necessary items(一)Date of issue to determine the expiry date and paying date; make sure whether the drawer has disposing capacity Name of drawee The signature of the drawer without the signature of the drawer or forged sig

43、nature makesan instrument invalid.(二)Absolutely necessary items(二)Place of issue Place of payment Tenor 即期付款(pay on demand/at sight) 远期付款：出票后定期certain days after date 见票后定期certain days after sight 定日付款fixed date 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15天

44、，如遇节假日则顺延 at 30 days after date; at 60 days from *Relatively necessary items利息、利率及汇率（interest ，interest and exchange rate）提示期限（Limit of time for presentation）出票依据（Drawn Clause）免作退票通知或放弃拒绝证书（Notice of Dishonor Excused or Protest Waived） 付一不付二预备付款人（Referee in case of need）Items at willComprises : 1）to

45、 draw and sign a bill; 2）to deliver it to the payee According to the negotiable 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 tha

46、t, if dishonored, he will compensate the holder。Issue payeepayerdrawerThe payee or holder signs on the back of the bill and delivers it to the endorseeEndorsementNotes:A valid endorsement should be an endorsement of the entire bill;By endorsing an instrument,the endorser guarantee that on due presen

47、tment the bill shall be accepted and paid as specified.Types ：1) Special endorsement 记名背书/特别背书/正式背书/完全背书 Pay to the order of ABC Co., signed2) Blank endorsement 空白背书 3) Restrictive endorsement 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 co

48、llection 委托取款背书（托收背书） 5) Endorsement for pledge质押背书 endorseeendorser date AFirst endorsement C BSecond endorsement CThird endorsement E DFourth endorsementThe 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

49、 drawerForms ： the word “accepted”;date;signature of the draweeTypes ： 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

50、 time after date 2)partial acceptanceAcceptance 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）the guarantor stands for a debtor such as drawer, endorser,or acceptor

51、 and assumes his indebtedness to the holder2）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 h

52、im. Qualifications to exert and preserve the right of recourse:Completeness in form of the draftPresenting for acceptance and payment on the due timeNotice of dishonor拒付通知 When dishonored by non-payment or non-acceptance, the holder must give notice to all the parties who remain liable that the draf

53、t has been dishonored to preserve their liabilities on the draft.Protest拒绝证书 A written statement certified by a notary public or other authorized person for the purpose of giving evidence that a bill has been presented for acceptance or for payment but dishonored. 图示Recourse 拒绝证书（Certificate of Prot

54、est）：是在拒付地点证明拒付事实的要式公证书。我国则是规定拒绝证明及其等效形式有： 承兑人或付款人出具的拒绝承兑书、拒绝付款书及退票理由书； 承兑人、付款人或代理付款银行直接在汇票上记载提示日期、拒绝事由及拒绝日期并盖章； 承兑人或付款人死亡、逃匿的有关证明（如死亡证明、失踪证明等）； 人民法院的有关司法文书（如破产裁定书）；有关行政主管部门的处罚决定。Protest Acceptance for honor When a draft has been protested for non-acceptance, any person not being a party already lia

55、ble on the draft may,with the consent of the holder, by writing on the bill, accept the bill for the honor of any party to the draft. Payment for honor When a draft has been protested for non-payment, a party not liable on the draft may intervene and pay it for the honor of a party liable on the dra

56、ft or even the drawer. any person can act as a payer for honor without the consent of the holder. Acceptance/payment for honorChapter three RemittanceInternational exchange国际汇兑Reimbursement of remittance cover汇款头寸的偿付The concept of remittanceParties of remittanceMethods and procedures of remittanceAp

57、plication of remittance International exchange refers to operational activities related with the currency conversion and transfer of funds between countries in order to settle the claims and debts by payment instruments through banks. In broad sense-the international settlement In narrow sense-inter

58、national bank remittanceTypes: International exchangepayerpayeeBank ABank BpayerpayeeBank ABank BcontractcontractRemittance:Reverse remittance:If the paying bank maintains a current account with the remitting bank(1) or the remitting bank has a a/c with the paying bank(2) Reimbursement of remittance

59、 cover Remitting bankPaying bankVostro a/c(1)in cover,we have credited youre a/c with usNostro a/c(2)in cover,please debit our a/c with you If there is no vostro or nostro account with each other,but the remitting bank can find a third bank,with which both the paying bank and the remitting bank main

60、tain current account. Remitting bankPaying bank Reimbursing bank AIn cover, we have authorized A to debit our a/c and credit your a/c with them debit our a/c and credit paying bank a/c with you Credit advice Exercises: please write “cover instruction” for each remittance below.The paying bank has ma