Letter-of-Credit-信用证-国际结算-教学课件

LetterofCredit

1LetterofCredit1

Review2Review21.Procedure

2.Characteristic3.Parties4.Types31.Procedure3.Parties4.TypesTypesofCredit6.4信用证的种类4TypesofCredit6.4信用证的种类4信用证的种类普通信用证特殊信用证光票信用证CleanCredit跟单信用证DocumentaryCredit不可撤销信用证IrrevocableCredit即期付款信用证SightPaymentCredit可撤销信用证RevocableCredit议付信用证NegotiationCredit承兑信用证AcceptanceCredit延期付款信用证DeferredPaymentCredit可转让信用证TransferableCredit对背信用证BacktoBackCredit对开信用证ReciprocalCredit循环信用证RevolvingCredit预支信用证AnticipatoryCredit备用信用证Stand-byCredit5信普通信用证特殊信用证光票信用证CleanCredit跟

ACreditmuststatewhetheritisavailablebysightpayment,deferredpayment,acceptanceornegotiation.ＵＣＰ６００Article6b6ＵＣＰ６００6Accordingtothemodeofavailability按兑用方式分类1.Sightcredit即期付款信用证⑴Definition:Aletterofcreditcallingforpaymentatonceuponthepresentationofthedocumentseitherwithorwithoutasightdraft.Draft?7Accordingtothemodeofavail

Undersuchacredit,thebeneficiary(thedrawer)isentitledtoreceivepaymentatonceonpresentationofhisdrafttothedraweebankortheissuingbankifdrawnontheissuingbank,oncetherelevantdocumentshavebeencheckedandfoundtobeinorder.8Undersuchacredit,thebe

AvailablewithXXBank

Bysightpayment/Bypayment

ByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraft_____drawnon

□□□□□×SightpayingbankXXBank⑵FunctionclauseIssuingbank/nominatedbank×atsight9AvailablewithXXBank□□

Benefit

ExporterImporter

10BenefitExporterImporter105.2.4Accordingtothemodeofavailability按兑用方式分类2.Acceptancecredit承兑信用证⑴Definition:Acreditavailablebyacceptance,underwhichabankspecificallynominateduponthereinisauthorizedtoacceptthedraftdrawnunderthecredit.115.2.4Accordingtothemodeof

AvailablewithXXBank

Bysightpayment/Bypayment

ByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon

□□□□□×XXBank⑵Function

clauseIssuingbank/nominatedbankAcceptingbank

×At30daysaftersight12AvailablewithXXBank□□

Benefit

ExporterImporter

13BenefitExporterImporter13⑶Operationofacceptancecredit承兑信用证的处理nominatedacceptingbank1.acceptedbillbeneficiaryDiscountingbank2.discount3.presentforpayment14⑶OperationofacceptancecrediAccordingtothemodeofavailability按兑用方式分类3.Deferredpaymentcredit延期付款信用证①At…daysafterthepresentationofthedocuments②At…daysafterthedateofshipment⑴Definition:Thebeneficiarydoesnotreceivepaymentwhenhepresentsthedocuments,butatalaterdatespecifiedinthecredit.15Accordingtothemodeofavai

AvailablewithXXBank

Bysightpayment/Bypayment

ByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon

□□□□□×XXBank⑵FunctionclauseIssuingbankAdvisingbankThirdbankWithoutabillofexchange16AvailablewithXXBank□□

Benefit

ExporterImporter

17BenefitExporterImporter17QuestionIfyouareanexporter,doyouprefertheacceptancecreditorthedeferredpaymentcredit?

18Question185.2.4Accordingtothemodeofavailability按兑用方式分类4.Negotiationcredit议付信用证⑴Definition:Anegotiationcreditisoneunderwhichabankspecificallynominatedisauthorizedtonegotiateorone,whichisfreelynegotiablebyanybank.195.2.4Accordingtothemodeof

Anegotiationcreditassuresthatanybanknegotiatingthedraftswillbedulyhonoredbytheissuingbankprovidedallthetermsstipulatedarecompliedwith.Dishonor?Negotiatingbankisaholderinduecourse20Anegotiationcreditassure

AvailablewithXXBank

Bysightpayment/Bypayment

ByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon

□□□□□×XXBank⑵FunctionclauseAnyotherbanksotherthanthenegotiatingbank×21AvailablewithXXBank□□□①Freenegotiationcredit自由议付信用证AvailablewithanybankbynegotiationBysightpayment/BypaymentByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon□□□□□×⑶TypesofnegotiationcreditAnyotherbanksotherthanthenegotiatingbank22①Freenegotiationcredit自由议付信用②Restrictednegotiationcredit限制议付信用证

AvailablewiththeXXBank(nominatedbank)bynegotiationBysightpayment/BypaymentByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon□□□□□×Anyotherbanksotherthanthenegotiatingbank23②Restrictednegotiationcredit

Benefit

ExporterImporter

24BenefitExporterImporter24kindsitemsSightpaymentDeferredpaymentAcceptancenegotiationrestrictivefreeBillofexchangeYes/noNo

YesYes/noTenorofthebillAtsightUsanceAtsight/usanceDraweeNominatedbankNominatedbankAnybankotherthannegotiatingbankPaymenttimeAtsightfuturefuturemakepaymentatsight,minusinterestRightofrecourseNoNoNoYes25kindsSightpaymentDeferredAccordingtothetenor按期限分类1.Sightcredit即期信用证⑴Withorwithoutsightdraft⑵Functionclause:①Availablebysightdraftdrawnonissuingbankagainstcomplieddocuments;②Paymentistobemadeuponpresentationofthecomplieddocumentsatthecountersof____bank.Nominatedbank26Accordingtothetenor按期限分类2.TimeCreditIfaletterofcreditspecifiesthatdraftsaretobedrawnatanylengthoftime,suchas60days,90daysor180days,aftersight,itiscalledatimeorusancecredt.AcceptanceCreditandDeferredCredit272.TimeCreditIfaletterof3.Usanceletterofcreditpayableatsight假远期信用证⑴Withtime/usancedraftThebeneficiarywillreceivepaymentatsight;Thediscountchargesandacceptancecommissionarefortheaccountoftheapplicant.Thecontract:termsofpaymentisatsightThecredit:termsofpaymentisatfuturetime283.Usanceletterofcreditpa买方为了获得伦敦或纽约贴现市场的资金融通，对于合同订明即期信用证，申请开立以伦敦或纽约的银行作为汇票付款人的远期信用证。该证项下远期汇票经过承兑拿到贴现市场贴现，或由承兑行自行贴现，买方支付贴现息，卖方即可取得即期票面金额，而买方则待汇票到期日付款。卖方即期从贴现公司收款买方远期付款，支付贴现息、承兑费ReadingMaterial29买方为了获得伦敦或纽约贴现市场的资金融通，对于合同订明即期信⑵Functionclause:假远期付款表示条款①Availableforacceptanceofyourdraftat90dayssightdrawnonus,draweebank’sdiscountorinterestchargesandacceptancecommissionareforapplicant’saccount,andthereforethebeneficiaryistoreceivevaluefortermsdraftsasifdrawnatsight.30⑵Functionclause:假远期付款表示条款30②Usancedraftsdrawnunderthiscreditaretobenegotiatedatsightbasis.Interestisforbuyer’saccount.本证下的远期汇票可按即期议付处理。利息由买方负担。③Paymentaretobemadeatsightbasis.Discountcharges,acceptancecommissionandstampduty,ifany,areforaccountoftheapplicant.本证按即期付款处理。贴现费，承兑费和印花税（如果有），由申请人承担。④Thenegotiatingbankisauthorizedtonegotiatetheusancedraftatsightforthefaceamount.议付行被授权对本证下的远期汇票按票面金额进行即期议付。31②UsancedraftsdrawnunderthAtransferableCreditisaCreditunderwhichtheBeneficiary(FirstBeneficiary)mayrequestthenominatedbank,specificallyauthorizedintheCreditasaTransferringBank,tomaketheCreditavailableinwholeorinparttooneormoreotherBeneficiary(ies)(SecondBeneficiary(ies)).6.2.5Transferablecredit可转让信用证6.2TypesofCredit信用证的种类1.Definition32AtransferableCreditisaCre可转让信用证是指信用证的受益人(第一受益人)可以要求授权付款,承担延期付款责任对汇票承兑或议付的银行(统称为转让行),或当信用证是自由议付时,可以要求信用证中特别授权的转让银行,将该信用证全部或部分转让给一个或数个受益人(第二受益人)使用的信用证.33可转让信用证是指信用证的受益人(第一受益人)可以要求授applicantIssuingbankSecondarybeneficiaryAdvisingbank/transferringbankFirstbeneficiary①Applicationform②Credit③Credit④Applyfortransfer⑤transferredcredit⑥documents⑦Advisetochangethedocuments⑧Changethedocuments⑦makepayment⑨claimreimbursement⑩reimbursement⑫D/P⑬documents2.ProcedureExperimentalbook(P91)⑪advisetomakepayment34applicantIssuingSecondaryAdviTransferablecreditExpressionoftransferamendmentTimesoftransferchangeditemsChangedDocumentstransferableThefirstbeneficiarymustirrevocablyinstructthetransferringbankwhetherornotheretainstherighttorefusetoallowthetransferringbanktoadviseamendmentstothesecondbeneficiary(ies).

Refusalofanamendmentbyoneormoresecondbeneficiary(ies)doesnotinvalidatetheacceptance(s)bytheothersecondbeneficiary(ies)onceAB

√ABC√ABCXABA√decrease、shortenincreaseBeneficiary,applicantUnitpriceExpirydateDateofshipmentPeriodofdateCoverpercentageCommercialinvoiceBillofexchange35TransferableExpressionofamenExerciseBookP1271.Howtodecidewhetheracreditisatransferablecreditornot?2.Doyouknowatransferablecreditbeusedinwhatkindofinternationaltrade?

36Exercise1.Howtodecidewhethe5.2.6.Aback-to-backcreditmaybeusedwhenthecreditissuedinfavoroftheexporter(themiddleman)isnottransferableorthoughtransferableitdoesnotmeethisrequirements.Theexporter,namely,thebeneficiaryofthefirstcredit,offersitasasecuritytotheadvisingbankorhisbankerfortheissuanceofasecondcredit.Theonebeingissuedonthesecurityoftheother.5.2TypesofCredit信用证的种类5.2.5

Back-to-backcredit对背信用证1.Definition375.2.6.Aback-to-backcreditmapplicantFirstIssuingbankSecondarybeneficiaryFirstadvisingbank/SecondissuingbankFirstbeneficiary①Applicationform②Credit③Credit④Applyfortransfer⑤transferredcredit⑥documents⑦Advisetochangethedocuments⑧Changethedocuments⑦makepayment⑨claimreimbursement⑩reimbursement⑫D/P⑬documents2.ProcedureExperimentalbook(P92)⑪advisetomakepayment38applicantFirstSecondaryFirstQuestions1.Distinguishthedifferencesbetweenthetransferablecreditandaback-to-backcredit?(definition,procedure,theissuingbank’sliability,etc.)

39Questions395.2TypesofCredit信用证的种类5.2.7Revolvingcredit循环信用证1.DefinitionOnebywhich,underthetermsandconditionsthereof,theamountisrenewedorreinstatedwithoutspecificamendmentstothedocumentarycreditbeingrequired.405.2TypesofCredit信用证的种类5.2.⑵Typesofrevolvingcredit①Automaticrevolving自动循环②Noticerevolving通知循环③Periodicrevolving按时间循环④Cumulativerevolving积累循环⑤Non-cumulativerevolving非积累循环Non-Automatic非自动循环Semi-Automatic半自动循环按金额循环41⑵TypesofrevolvingcreditNon①Automaticrevolving自动循环Thetotalamountofthiscreditshallberestoredautomaticallyafterdateofnegotiation.TheamountspaidunderthiscreditavailabletoyouautomaticallyuntilthetotalofthepaymentreachesUSD_____________.42①Automaticrevolving自动循环The②Noticerevolving通知循环（非自动循环）Theamountshallberestoredaftereachnegotiationonlyuponreceiptofissuingbank’snoticestatingthatthecreditmightberenewed.Theamountsofeachshipmentshallbereinstatedaftereachnegotiationonlyuponreceiptofcredit-writingimporter’sissuingbank’snoticestatingthatthecreditmightberenewed.43②Noticerevolving通知循环（非自动循环）TExerciseThiscreditisrevolvingatUSD30,000,coveringshipmentsof3consecutivecalendarmonthfromMay1999toJuly1999uptoatotalamountofUSD90,000.①timesofrevolving②eachamount③totalamount④whentouse44Exercise①timesofrevolving②eaPeriodicrevolvingThiscreditisrevolvingatUSD30,000,coveringshipmentsof3consecutivecalendarmonthfromMay1999toJuly1999uptoatotalamountofUSD90,000.45PeriodicrevolvingThiscreditAutomaticrevolvingThisletterofcreditcanbeautomaticallyrenewedtotheamount...46AutomaticrevolvingThisletterThisletterofcreditcannotbereneweduntilreceivedthenoticefromtheissuingbank...Non-automaticrevolving47ThisletterofcreditcannotbUsuallyconcernedwithabartertransactions.Theopenerandbeneficiaryarebothimportersandexporters.BookP142lastparagraph6.2TypesofCredit信用证的种类6.2.7Reciprocalcredit对开信用证48Usuallyconcernedwithabarte

我方进口国外原料时，开立凭承兑交单的远期信用证，在出口成品时，要求对方开来即期信用证，这样原料到，我方在承兑信用证项下的远期汇票后，即可提取原料进行加工，待成品完工后，就用收到的出口货款偿付应付的到期原料费，可使外汇自相平衡，以达到先收后付，不垫外汇的目的。49我方进口国外原料时，开立凭承兑交单的远期信用证，在出口Itisakindofpre-shipmentfinancingintendedtoassisttheexporterintheproductionorprocurementofthegoodssold.Itisacreditwithaspecialclauseaddedtheretothatauthorizestheadvisingbankoranyothernominatedbankstomakeadvancestothebeneficiarybeforehissubmissionofdocuments.6.2TypesofCredit信用证的种类6.2.8Redclause/Anticipatorycredit红条款/预支信用证1.Definition50Itisakindofpre-shipmentfAredclauseletterofcreditwillbeestablishedonlyattherequestoftheapplicant,itplacestheonusoffinalrepaymentontheapplicant,whowouldbeliableforrepaymentoftheadvancesifthebeneficiaryfailedtopresentthedocumentscalledforunderthecredit,andwhowouldbeliableforallcosts.BookP144secondparagraph51AredclauseletterofcreditBenefitsofthedocumentarycredit信用证的有利方面1.WhatadvantagesandsecuritiescaneachpartygetinL/C？2.Sincethebankcredithastakenplaceofthecommercialcredit,doeseachpartyhasnorisksinL/C？52BenefitsofthedocumentaryLetterofCredit

53LetterofCredit1

Review54Review21.Procedure

2.Characteristic3.Parties4.Types551.Procedure3.Parties4.TypesTypesofCredit6.4信用证的种类56TypesofCredit6.4信用证的种类4信用证的种类普通信用证特殊信用证光票信用证CleanCredit跟单信用证DocumentaryCredit不可撤销信用证IrrevocableCredit即期付款信用证SightPaymentCredit可撤销信用证RevocableCredit议付信用证NegotiationCredit承兑信用证AcceptanceCredit延期付款信用证DeferredPaymentCredit可转让信用证TransferableCredit对背信用证BacktoBackCredit对开信用证ReciprocalCredit循环信用证RevolvingCredit预支信用证AnticipatoryCredit备用信用证Stand-byCredit57信普通信用证特殊信用证光票信用证CleanCredit跟

ACreditmuststatewhetheritisavailablebysightpayment,deferredpayment,acceptanceornegotiation.ＵＣＰ６００Article6b58ＵＣＰ６００6Accordingtothemodeofavailability按兑用方式分类1.Sightcredit即期付款信用证⑴Definition:Aletterofcreditcallingforpaymentatonceuponthepresentationofthedocumentseitherwithorwithoutasightdraft.Draft?59Accordingtothemodeofavail

Undersuchacredit,thebeneficiary(thedrawer)isentitledtoreceivepaymentatonceonpresentationofhisdrafttothedraweebankortheissuingbankifdrawnontheissuingbank,oncetherelevantdocumentshavebeencheckedandfoundtobeinorder.60Undersuchacredit,thebe

AvailablewithXXBank

Bysightpayment/Bypayment

ByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraft_____drawnon

□□□□□×SightpayingbankXXBank⑵FunctionclauseIssuingbank/nominatedbank×atsight61AvailablewithXXBank□□

Benefit

ExporterImporter

62BenefitExporterImporter105.2.4Accordingtothemodeofavailability按兑用方式分类2.Acceptancecredit承兑信用证⑴Definition:Acreditavailablebyacceptance,underwhichabankspecificallynominateduponthereinisauthorizedtoacceptthedraftdrawnunderthecredit.635.2.4Accordingtothemodeof

AvailablewithXXBank

Bysightpayment/Bypayment

ByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon

□□□□□×XXBank⑵Function

clauseIssuingbank/nominatedbankAcceptingbank

×At30daysaftersight64AvailablewithXXBank□□

Benefit

ExporterImporter

65BenefitExporterImporter13⑶Operationofacceptancecredit承兑信用证的处理nominatedacceptingbank1.acceptedbillbeneficiaryDiscountingbank2.discount3.presentforpayment66⑶OperationofacceptancecrediAccordingtothemodeofavailability按兑用方式分类3.Deferredpaymentcredit延期付款信用证①At…daysafterthepresentationofthedocuments②At…daysafterthedateofshipment⑴Definition:Thebeneficiarydoesnotreceivepaymentwhenhepresentsthedocuments,butatalaterdatespecifiedinthecredit.67Accordingtothemodeofavai

AvailablewithXXBank

Bysightpayment/Bypayment

ByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon

□□□□□×XXBank⑵FunctionclauseIssuingbankAdvisingbankThirdbankWithoutabillofexchange68AvailablewithXXBank□□

Benefit

ExporterImporter

69BenefitExporterImporter17QuestionIfyouareanexporter,doyouprefertheacceptancecreditorthedeferredpaymentcredit?

70Question185.2.4Accordingtothemodeofavailability按兑用方式分类4.Negotiationcredit议付信用证⑴Definition:Anegotiationcreditisoneunderwhichabankspecificallynominatedisauthorizedtonegotiateorone,whichisfreelynegotiablebyanybank.715.2.4Accordingtothemodeof

Anegotiationcreditassuresthatanybanknegotiatingthedraftswillbedulyhonoredbytheissuingbankprovidedallthetermsstipulatedarecompliedwith.Dishonor?Negotiatingbankisaholderinduecourse72Anegotiationcreditassure

AvailablewithXXBank

Bysightpayment/Bypayment

ByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon

□□□□□×XXBank⑵FunctionclauseAnyotherbanksotherthanthenegotiatingbank×73AvailablewithXXBank□□□①Freenegotiationcredit自由议付信用证AvailablewithanybankbynegotiationBysightpayment/BypaymentByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon□□□□□×⑶TypesofnegotiationcreditAnyotherbanksotherthanthenegotiatingbank74①Freenegotiationcredit自由议付信用②Restrictednegotiationcredit限制议付信用证

AvailablewiththeXXBank(nominatedbank)bynegotiationBysightpayment/BypaymentByacceptanceBydeferredpaymentBynegotiationandbeneficiary’sdraftdrawnon□□□□□×Anyotherbanksotherthanthenegotiatingbank75②Restrictednegotiationcredit

Benefit

ExporterImporter

76BenefitExporterImporter24kindsitemsSightpaymentDeferredpaymentAcceptancenegotiationrestrictivefreeBillofexchangeYes/noNo

YesYes/noTenorofthebillAtsightUsanceAtsight/usanceDraweeNominatedbankNominatedbankAnybankotherthannegotiatingbankPaymenttimeAtsightfuturefuturemakepaymentatsight,minusinterestRightofrecourseNoNoNoYes77kindsSightpaymentDeferredAccordingtothetenor按期限分类1.Sightcredit即期信用证⑴Withorwithoutsightdraft⑵Functionclause:①Availablebysightdraftdrawnonissuingbankagainstcomplieddocuments;②Paymentistobemadeuponpresentationofthecomplieddocumentsatthecountersof____bank.Nominatedbank78Accordingtothetenor按期限分类2.TimeCreditIfaletterofcreditspecifiesthatdraftsaretobedrawnatanylengthoftime,suchas60days,90daysor180days,aftersight,itiscalledatimeorusancecredt.AcceptanceCreditandDeferredCredit792.TimeCreditIfaletterof3.Usanceletterofcreditpayableatsight假远期信用证⑴Withtime/usancedraftThebeneficiarywillreceivepaymentatsight;Thediscountchargesandacceptancecommissionarefortheaccountoftheapplicant.Thecontract:termsofpaymentisatsightThecredit:termsofpaymentisatfuturetime803.Usanceletterofcreditpa买方为了获得伦敦或纽约贴现市场的资金融通，对于合同订明即期信用证，申请开立以伦敦或纽约的银行作为汇票付款人的远期信用证。该证项下远期汇票经过承兑拿到贴现市场贴现，或由承兑行自行贴现，买方支付贴现息，卖方即可取得即期票面金额，而买方则待汇票到期日付款。卖方即期从贴现公司收款买方远期付款，支付贴现息、承兑费ReadingMaterial81买方为了获得伦敦或纽约贴现市场的资金融通，对于合同订明即期信⑵Functionclause:假远期付款表示条款①Availableforacceptanceofyourdraftat90dayssightdrawnonus,draweebank’sdiscountorinterestchargesandacceptancecommissionareforapplicant’saccount,andthereforethebeneficiaryistoreceivevaluefortermsdraftsasifdrawnatsight.82⑵Functionclause:假远期付款表示条款30②Usancedraftsdrawnunderthiscreditaretobenegotiatedatsightbasis.Interestisforbuyer’saccount.本证下的远期汇票可按即期议付处理。利息由买方负担。③Paymentaretobemadeatsightbasis.Discountcharges,acceptancecommissionandstampduty,ifany,areforaccountoftheapplicant.本证按即期付款处理。贴现费，承兑费和印花税（如果有），由申请人承担。④Thenegotiatingbankisauthorizedtonegotiatetheusancedraftatsightforthefaceamount.议付行被授权对本证下的远期汇票按票面金额进行即期议付。83②UsancedraftsdrawnunderthAtransferableCreditisaCreditunderwhichtheBeneficiary(FirstBeneficiary)mayrequestthenominatedbank,specificallyauthorizedintheCreditasaTransferringBank,tomaketheCreditavailableinwholeorinparttooneormoreotherBeneficiary(ies)(SecondBeneficiary(ies)).6.2.5Transferablecredit可转让信用证6.2TypesofCredit信用证的种类1.Definition84AtransferableCreditisaCre可转让信用证是指信用证的受益人(第一受益人)可以要求授权付款,承担延期付款责任对汇票承兑或议付的银行(统称为转让行),或当信用证是自由议付时,可以要求信用证中特别授权的转让银行,将该信用证全部或部分转让给一个或数个受益人(第二受益人)使用的信用证.85可转让信用证是指信用证的受益人(第一受益人)可以要求授applicantIssuingbankSecondarybeneficiaryAdvisingbank/transferringbankFirstbeneficiary①Applicationform②Credit③Credit④Applyfortransfer⑤transferredcredit⑥documents⑦Advisetochangethedocuments⑧Changethedocuments⑦makepayment⑨claimreimbursement⑩reimbursement⑫D/P⑬documents2.ProcedureExperimentalbook(P91)⑪advisetomakepayment86applicantIssuingSecondaryAdviTransferablecreditExpressionoftransferamendmentTimesoftransferchangeditemsChangedDocumentstransferableThefirstbeneficiarymustirrevocablyinstructthetransferringbankwhetherornotheretainstherighttorefusetoallowthetransferringbanktoadviseamendmentstothesecondbeneficiary(ies).

Refusalofanamendmentbyoneormoresecondbeneficiary(ies)doesnotinvalidatetheacceptance(s)bytheothersecondbeneficiary(ies)onceAB

√ABC√ABCXABA√decrease、shortenincreaseBeneficiary,applicantUnitpriceExpirydateDateofshipmentPeriodofdateCoverpercentageCommercialinvoiceBillofexchange87TransferableExpressionofamenExerciseBookP1271.Howtodecidewhetheracreditisatransferablecreditornot?2.Doyouknowatransferablecreditbeusedinwhatkindofinternationaltrade?

88Exercise1.Howtodecidewhethe5.2.6.Aback-to-backcreditmaybeusedwhenthecreditissuedinfavoroftheexporter(themiddleman)isnottransferableorthoughtransferableitdoesnotmeethisrequirements.Theexporter,namely,thebeneficiaryofthefirstcredit,offersitasasecuritytotheadvisingbankorhisbankerfortheissuanceofasecondcredit.Theonebeingissuedonthesecurityoftheother.5.2TypesofCredit信用证的种类5.2.5

Back-to-backcredit对背信用证1.Definition895.2.6.Aback-to-backcreditmapplicantFirstIssuingbankSecondarybeneficiaryFirstadvisingbank/SecondissuingbankFirstbeneficiary①Applicationform②Credit③Credit④Applyfortransfer⑤transferredcredit⑥documents⑦Advisetochangethedocuments⑧Changethedocuments⑦makepayment⑨claimreimbursement⑩reimbursement⑫D/P⑬documents2.ProcedureExperimentalbook(P92)⑪advisetomakepayment90applicantFirstSecondaryFirstQuestions1.Distinguishthedifferencesbetweenthetransferablecreditandaback-to-backcredit?(definition,procedure,theissuingbank’sliability,etc.)

91Questions395.2TypesofCredit信用证的种类5.2.7Revolvingcredit循环信用证1.DefinitionOnebywhich,underthetermsandconditionsthereof,theamountisrenewedorreinstatedwithoutspecificamendmentstothedocumentarycreditbeingrequired.925.2TypesofCredit信用证的种类5.2.⑵Typesofrevolvingcredit①Automaticrevolving自动循环②Noticerevolving通知循环③Periodicrevolving按时间循环④Cumulativerevolving积累循环⑤Non-cumulativerevolving非积累循环Non-Automatic非自动循环Semi-Automatic半自动循环按金额循环93⑵TypesofrevolvingcreditNon①Automaticrevolving自动循环Thetotalamountofthiscreditshallberestoredautomaticallyafterdateof