国际商业借贷协议与融资担保法律问题讨论

第四章

国际商业借贷协议与融资担保法律问题2011年11月02第四章．教学目的与要求主要教学目的与要求：掌握国际商业借贷协议的基本类型和结构，了解国际商业借贷协议的英语主要条款的基本基本内容和法律含义：包括定义和释义的内容和意义；法律适用条款；贷款的先决条件，贷款的用途条款；货币条款；陈述与保证条款；财务约定事项条款；违约与交叉违约条款等等；

通过学习，能够将上述法律知识运用到国际金融法律相关实践中去逐步学会处理相关法律事务第四章：国际商业借贷协议及其法律问题

大纲一、国际商业贷款协议概述二、国际借贷协议结构和主要条款结构：序言、主文和结尾三部分；主要条款：（一）定义与释义（二）贷款货币与金额（三）贷款期限（四）利率和利息（五）贷款的用途（六）借款人对事实的陈述与保证（七）约定事项(Covenant)（八）违约事件及其救济方法（九）法律适用条款。该条款在于明确规定借款协议的准据法，（十）司法管辖条款。

第四章：国际商业借贷协议及其法律问题

一、国际商业贷款协议概述

（一）国际商业贷款协议的概念、类型和特点；（二）国际商业贷款协议订立的程序。

1、国际商业贷款协议的概念国际商业贷款协议指位于不同国家的债权人和债务人之间的产生的一种货币借贷合同，是调整跨国货币借贷双方当事人债权债务关系的法律依据。第四章：国际商业借贷协议及其法律问题

一、国际商业贷款协议概述

2003年1月8日由国家发展计划委员会、财政部和国家外汇管理局联合颁布的《外债管理暂行办法》（以下简称《暂行办法》）[1]。第5条规定的第三款定义，“国际商业贷款，是指境内机构向非居民举借的商业性信贷。包括：（1）向境外银行和其他金融机构借款；（2）向境外企业、其他机构和自然人借款；（3）境外发行中长期债券（含可转换债券）和短期债券（含商业票据、大额可转让存单等）；（4）买方信贷、延期付款和其它形式的贸易融资；（5）国际融资租赁；（6）非居民外币存款；（7）补偿贸易中用现汇偿还的债务；（8）其它种类国际商业贷款。

[1]《外债管理暂行办法》于2003年3月1日起施行。

第四章：国际商业借贷协议及其法律问题

一、国际商业贷款协议概述

（一）国际商业贷款协议的概念、类型和特点2、国际商业贷款协议的类型

（1）以贷款的期限划分，短期、中期和长期贷款协议。（2）以当事人的地位和性质来划分（3）以融资的组织方式来划分，－独家贷款协议，国际银团贷款协议目贷款协议等（4）以贷款利率的形式来划分，固定利率和浮动利率贷款协议使用浮动利率计息一般是以LIBOR加上利差。[1]（5）以贷款有无担保来划分，一般可分为有担保的贷款协议和无担保的协议。

[1]LIBOR为英文LondonInter-BankOfferedRated即伦敦同业银行拆放率的缩写，LIBOR是指伦敦同业银行之间的短期资金拆借的利息率，该利率通常是伦敦国际金融市场的基础利率。第四章：国际商业借贷协议及其法律问题

一、国际商业贷款协议概述

（一）国际商业贷款协议的概念、类型和特点

3、国际商业贷款协议的法律特特征（1）协议具有跨国性，其复杂性和涉及法律范围均比国内贷款协议大而广泛。（2）法律适用和管辖规定不同。Conflictsoflaw（3）担保方式不同。一、国际商业贷款协议概述

（一）国际商业贷款协议订立程序

国际商业贷款协议订立要通过一定程序：１．一般要经过授权；授权是指国际商业贷款协议各方当事人必须通过法定的授权程序来获得合法的订约能力２．签署；国际商业贷款协议必须经过双方有签约能力的人正式签署才能生效３．生效；国际商业贷款协议通常在签字后并不马上生效，而是要等到协议中规定的能使协议生效的某些先决条件具备时才开始生效。所谓先决条件，一般是指贷款协议规定协议的生效是以先满足某些能保证贷款人合法权益的条件为前提后，贷款协议才正式生效第四章：国际商业借贷协议－大纲（二）贷款货币与金额

1、货币，

2、贷款金额，（三）贷款期限第四章：国际商业借贷协议－大纲（四）利率和利息（五）贷款的用途（六）借款人对事实的陈述与保证（RepresentationandWarranties）第一部分是法律方面要说明并保证其承担借款义务的合法性；第二方面则是在经济方面要求借款人说明并保证财务和商务的真实情况。71、借款人在法律方面的陈述与保证主要包括：

2、借款人对其财务和商务状况的说明主要包括：

第四章：国际商业借贷协议及其法律问题

大纲

（七）约定事项(Covenant)1、消极保证条款(NegativePledge)

消极保证的意思是保证不做什么，或者可以称为“保证不作为条款”。

2、比例平等条款(paripassuCovenant)3、财务约定事项(FinancialCovenant)

财务约定事项的作用有两个：一是可以监督和控制借款人的财务状况；二是在借款人违反财务约定事项时，贷款人可以及时采取行动，要求加快偿还贷款。

第四章：国际商业借贷协议及其法律问题

大纲1）无形资产例如：土地使用权的价值

2〕最低资本比例

3）提前通知诉讼事项，个人事项通知范畴；

4）建行保证外汇汇出约定；银行权限？（八）违约事件及其救济方法

1、实际违约

2、先兆性违约或预期违约，预期违约主要包括三种情况：第四章：国际商业借贷协议及其法律问题

大纲（九）法律适用条款。该条款在于明确规定借款协议的准据法，（十）司法管辖条款。约定贷款协议发生争议时由哪国法院审理，以及原则或标准。在国际商业贷款合同中，原则上不采用仲裁方式仅仅当事人争议第四章：国际商业借贷协议及其法律问题

二、国际借贷协议结构和主要条款

结构：一般可包括序言、主文和结尾三个组成部分。ExampleTableofContentsPartOneSpecialConditionsArticleIConstituentElementsofAgreementArticleIIAdditionalDefinitionsArticleIIIAmountofFacility,EligibleCurrencyandUseofLoanArticleIVDisbursementArticleVRepaymentofLoanArticleVIInterestandOverduePaymentArticleVIIAccountofEXIMBANK;PaymentArticleVIIIAdditionalRepresentationsandWarrantiesArticleIXAdditionalCovenantsArticleXAdditionalEventsofDefaultArticleXICommunication;AbbreviationArticleXIIAppointmentofAgentforService第三讲：国际商业借贷协议及其法律问题

二、国际借贷协议结构和主要条款Example

PartTwoGeneralConditionsArticleIApplicationofGeneralConditionsArticleIIDefinitionsArticleIIIFinalDisbursementDateArticleIVPrepaymentofLoanArticleVPaymentsandCurrencyArticleVIRepresentationsandWarrantiesArticleVIIParticularCovenantsArticleVIIIEventsofDefaultArticleIXConditionsPrecedentArticleXTaxes,FeesandExpensesLOANAGREEMENTbetweenSHANGHAIHAIHNCELECTORNICSCO.,LTD.

THEEXPORT-IMPORTBANKOFJAPAN

ArticleXIGoverningLawandJurisdictionArticleXIIMiscellaneousArticleXIIIGeneralConditionsforTwoStepLoan主要条款：

LOANAGREEMENTTHISLOANAGREEMENT

madethis[]dayof[],2003BETWEENSHANGHAIHNCELECTRONICSCO.,LTD.,ajointventurecompanywithlimitedliabilitydulyincorporatedandexistingunderthelawsofthePeople’RepublicofChina,havingitsprincipalplaceofbusinessat[],thePeople’sRepublicofChina(withitssuccessors,the“Borrower”)ANDTHEEXPORT-IMPORTBANKOFJAPAN(withitssuccessors,the“EXIMBANK”)LOANAGREEMENTbetweenSHANGHAIHAIHNCELECTORNICSCO.,LTD.

THEEXPORT-IMPORTBANKOFJAPAN

WITNESSETH:WHEREAS:(A)TheBorrowerhaspreparedplansfortheProject(asdefinedbelow),suchProjecthavingtheobjectiveofconstructionfacilityfor[];TheBorrowerhasrequestedtheEXIMBANKtomakefundsavailabletoBorrowerforfinancingtheProject;EachoftheGuarantors(asdefinedbelow)hasagreedtoconcludeitsGuarantee(asdefinedbelow)withtheEXIMBANKtoguaranteetheobligationsoftheBorrowerunderthisAgreementonthetermsandconditionsthereof;andTheEXIMBANKonthebasisoftheforegoinghasthereforeagreedtoextendaloanfacilitytotheBorroweronthetermsandconditionshereinaftersetforth.LOANAGREEMENTbetweenSHANGHAIHAIHNCELECTORNICSCO.,LTD.

THEEXPORT-IMPORTBANKOFJAPAN

PARTONESPECIALCONDITIONSArticleIConstituentElementsofAgreement(1)(ConstituentElementsofAgreement)ThisAgreementconsistsofthisPartOne,hereinafterdesignatedastheSpecialConditions,ofPartTwo,hereinafterdesignatedastheGeneralConditions,andofAnnexesA,B,C,D,E,F,GandHattached.(2)(PrimacyoftheSpecialConditions)IfanyprovisionoftheSpecialConditionsortheAnnexesshouldpresentanyinconsistencyorcontradictionwiththeGeneralConditions,theprovisionoftheSpecialConditionsortherespectiveAnnexshallprevail.LOANAGREEMEN

TPARTONE:SPECIALCONDITIONS

ArticleIConstituentElementsofAgreement

(3)(AmendmentstotheGeneralConditions)TheGeneralConditionsshallbeherebyamendedasfollows:(a)Section(2)ofArticleVIoftheGeneralConditions(RepresentationsandWarranties)isherebydeletedandreplacedbythefollowing:“(2)(GovernmentConsentsandActions)Allauthorizations,licences,approvalsorconsentsof,orregistrations,reccordationsorfilingswith,theBorrower’sCountry,orofanyagency,department,orcommissionthereoforthereinwhicharenecessaryoradvisablefor(i)theexecution,deliveryorperformanceofthisAgreementoranyagreement,guaranteeandinstrumentrequiredhereunderforthevalidityandenforceabilityhereoforthereof,LawofCivilProcedureofthePeople'sRepublicofChinaArt.267Article267.Wherealegallyeffectivejudgmentorrulingmadebyaforeigncourtrequiresthepeople'scourtinthePRCtoacknowledgeitsvalidityandexecuteit,theapplicantmaydirectlyrequestacompetentintermediatepeople'scourttodoso,ortheforeigncourtmayrequestthepeople'scourttodoso,accordingtotheinternationaltreatieswhichChinahasconcludedortowhichChinaisapartyorinaccordancewiththeprincipleofmutualreciprocity.20中华人民共和国民事诉讼法267条第二百六十七条外国法院作出的发生法律效力的判决、裁定，需要中华人民共和国人民法院承认和执行的，可以由当事人直接向中华人民共和国有管辖权的中级人民法院申请承认和执行，也可以由外国法院依照该国与中华人民共和国缔结或者参加的国际条约的规定，或者按照互惠原则，请求人民法院承认和执行。LawofCivilProcedureofthePeople'sRepublicofChinaArt.268Article268.Thepeople'scourtshallexamine,inaccordancewiththeinternationaltreatieswhichChinahasconcludedortowhichChinaisapartyoraccordingtotheprincipleofmutualreciprocity,theapplicationorrequestforacknowledgmentofthevalidityandexecutionofalegallyeffectivejudgmentorrulingwhichaforeigncourthasrendered.WhereitisfoundtobenotincontraventionofthebasicprinciplesofthelawsofthePRC,orChina'ssovereignty,oritsnationalandsocialinterests,thepeople'scourtshallacknowledgeitsvaliditybyarulingand,wherenecessary,issuesanorderofexecutiontoimplementitaccordingtotheprocedurespecifiedbythislaw.WhereitisfoundtobeincontraventionofthebasicprinciplesofthelawsofthePRC,orChina'ssovereignty,oritsnationalandsocialinterests,thepeople'scourtshallnotacknowledgeitsvalidityorimplementit.第二百六十八条人民法院对申请或者请求承认和执行的外国法院作出的发生法律效力的判决、裁定，依照中华人民共和国缔结或者参加的国际条约，或者按照互惠原则进行审查后，认为不违反中华人民共和国法律的基本原则或者国家主权、安全、社会公共利益的，裁定承认其效力，需要执行的，发出执行令，依照本法的有关规定执行。违反中华人民共和国法律的基本原则或者国家主权、安全、社会公共利益的，不予承认和执行。LOANAGREEMEN

TPARTONE:SPECIALCONDITIONS

ArticleIConstituentElementsofAgreementThereisnorequirementtofile,registerorotherwiserecordthisAgreementoranyinstrumentoragreementrequiredhereunderinanypublicofficeorelsewhereintheBorrower’sCountrytoensurethevalidity,legality,effectiveness,enforceabilityoradmissibilityinevidencehereoforthereof,exceptfor(a)theregistrationofthisAgreementwiththeSAFE,whichshallbefiledbytheBorrowerwithinfifteen(15)daysfromtheexecutionofthisAgreementand(b)theapprovalbySAFEoftheexpatriationofrepaymentshereunder.”LOANAGREEMEN

TPARTONE:SPECIALCONDITIONS

ArticleIIAdditionalDefinitionsInthisAgreementandintheRecitalsandAnnexeshereto,thefollowingexpressionsshall,unlessthecontextotherwiserequires,havethefollowingmeanings:“AmortizationSchedule”:thescheduleofthedatesandamountsofrepaymentsoftheLoansetforthinAnnexC,asthesamemaybeamendedfromtimetotimeinaccordancewiththeprovisionsoftheAgreement;LOANAGREEMEN

TPARTONE:SPECIALCONDITIONS

ArticleIIAdditionalDefinitions“BANK”:CHINACONSTRUCTIONBANK,astate-ownedfinancialinstitutiondulyestablishedandexistingunderthelawsofthePeople’sRepublicofChina,havingitsprincipalplaceofbusinessatNo.25,FinanceMainStreet,Beijing100032,thePeople’sRepublicofChina;“Borrower’sCountry”thePeople’sRepublicofChina;LOANAGREEMEN

TPARTONE:SPECIALCONDITIONS

ArticleIIAdditionalDefinitions“BusinessDay”:adayonwhichbanksareopenforforeignexchangebusinessinTokyo,LondonandNewYork;“CalculationDate”:withrespecttoanyInterestPaymentPeriod,thedaywhichistwoLIBORBusinessDayspriortothecommencementofsuchInterestPaymentPeriod;“ChineseParent”:[],acorporationdulyincorporatedandexistingunderthelawsofthePeople’sRepublicofChina,havingitsprincipalplaceofbusinessat[],thePeople’sRepublicofChina:LOANAGREEMEN

TPARTONE:SPECIALCONDITIONS

ArticleIIAdditionalDefinitions“FloatingRate”:withrespecttoanyInterestPaymentperiod,therateperannum(onthebasisofa360-dayyear)shownontheTeleratePage3750(orsuchotherpageasmayreplaceTeleratePage3750onsuchservice,orifsuchserviceceasestodisplay,suchotherpageonsuchotherserviceasmaybeselectedbytheEXIMBANKasbeingsuitablefordeterminingLIBOR)as“BritishBankersAssociationInterestSettlementRate”inUSDollars(LIBOR)forsix(6)monthsatapproximately11:00a.m.(Londontime)ontheCalculationDatewithrespecttosuchInterestPaymentPeriod;LOANAGREEMEN

TPARTONE:SPECIALCONDITIONS

ArticleIIAdditionalDefinitions“Guarantee”:theabsoluteandunconditionalguaranteebywhicheachoftheGuarantorsguarantees,asprimaryobligornotmerelyassurety,dueandpunctualpaymentofallsumsthatmayfromtimetotimefallduebytheBorrowertotheEXIMBANKpursuanttotheAgreement;providedthateachoftheGuarantorsguaranteessuchsumstotheextentofthefollowingproportion:-BANK:[71.4%];and-NEC:[28.6%];“Guarantor”:

eachofBANKandNEC:LOANAGREEMEN

TPARTONE:SPECIALCONDITIONS

ArticleIIAdditionalDefinitions“JointVentureAgreement”:thejointventureagreementdated[]betweentheChineseParentandNEC;“Loan”:theaggregateprincipalamountofallDisbursementshereunderbytheEXIMBANKtotheBorrowerfromtimetotimeoutstanding;“LIBORBusinessDay”:adayonwhichdealingsindepositsinUSDollarsarecarriedonintheLondoninter-bankEuro-currencymarket;

“RepaymentDate”:eachofthe[]dayof[]andthe[]dayof[]occurringduringtheperiodcommencingon[]andendingon[],andintheeventthatanysuchdateisnotaBusinessDay,theimmediatelyfollowingBusinessDay;“SAFE”:theStateAdministrationofForeignExchangeofthePeople’sRepublicofChina.LOANAGREEMEN

TPARTONE:SPECIALCONDITION

ArticleIIAdditionalDefinitionsLOANAGREEMEN

TPARTONE:SPECIALCONDITION

ArticleIIIAmountoFacility,EligibleCurrencyandUseofLoan(1)(Commitment)TheEXIMBANKherebyagreestomakeavailabletotheBorrower,onandsubjecttothetermsandconditionsofthisAgreement,aloanfacility(the“Facility”)inU.S.Dollarsinanaggregateamountnotexceeding[]U.S.Dollars(US$).(2)(EligibleCurrency)ThecurrencyinwhichtheEXIMBANKshallmakeDisbursementand,exceptasprovidedinArticleXoftheGeneralConditions,theBorrowershallmakeallpaymentshereunder,shallbeU.S.Dollars(the“EligibleCurrency”).

TPARTONE:SPECIALCONDITION

ArticleIVDisbursement

(UseofLoan)TheentireproceedsoftheLoanshallbeappliedbyheBorrowerforthesolepurposeoffinancingtheexpendituresdirectlyNecessaryforthedueimplementationoftheProject.

ArticleIVDisbursement(1)(DisbursementProcedures)SubjecttothefulfillmentoftheconditionsreferredtoinArticleIXoftheGeneralConditions,Section(2)ofthisArticleIVandtheothertermsandconditionsofthisAgreement,theEXIMBANKshalldisbursetheFacilityinaccordancewiththeDisbursementProcedure.LOANAGREEMEN

TPARTONE:SPECIALCONDITION

ArticleVIIIadditionalRepresentationsandWarranties-2(2)(EnvironmentalReview)Intheordinarycourseofitsbusiness,theBorrowerconductsanongoingreviewoftheeffectofEnvironmentalLawsonthebusiness,operationsandpropertiesoftheBorroweranditssubsidiaries,inthecourseofwhichitidentifiesandevaluatesliabilitiesandcostsrelatedthereto(including,withoutlimitation,withrespecttoanyclean-uporclosureofproperties,compliancewithapplicableoperatingconstraints,disposalofwastesandpossibleliabilitiestoemployeesandotherthirdparties).

LOANAGREEMEN

TPARTONE:SPECIALCONDITION

ArticleVIIIadditionalRepresentationsandWarranties-2“EnvironmentalLaws”meansanylaws,regulations,judicialdecisions,ordersandgovernmentalrestrictionsoftheBorrower’sCountryapplicabletotheBorrower,itsstorage,dischargeorwastes.(3)(PariPassu)TheobligationsandliabilitiesoftheBorrowerunderthisAgreementareUnconditionalandgeneralobligationsoftheBorrowerandrankatleastPariPassuwithallotherpresentorfutureunsecuredandunsubordinatedIndebtedness(bothactualandcontingent)oftheBorrower.LOANAGREEMEN

TPARTONE:SPECIALCONDITION

ArticleIX

additionalcovenants-1-2

(1)(PariPassu)TheobligationsandliabilitiesoftheBorrowerunderthisAgreementshallbeunconditionalandgeneralobligationsoftheBorrowerandshallrankatleastPariPassuwithallotherexistingorfutureunsecuredandunsubordinatedIndebtedness(bothactualandcontingent)oftheBorrower.LOANAGREEMEN

TPARTONE:SPECIALCONDITION

ArticleIX

additionalcovenants-1-2(2)(WaiverofImmunity)TheBorrowerherebyirrevocablywaives,tothefullestextentnoworhereafterpermittedbythelawofthejurisdictioninwhichanylegalproceedingsarisingoutoforrelatingtothisAgreementoranytransactioncontemplatedherebyiscommenced,anyandallimmunityfromjurisdictionofanycourt,suit,judgment,serviceofprocessuponitoranyagent,executiononjudgment,set-off,attachmentpriortojudgment,attachmentinaidofexecutionorotherlegalprocesstowhichitoritsassetsmaybeentitledinanylegalactionorproceedingswithrespecttothisAgreementoranyofthetransactionscontemplatedherebyorhereunder.LOANAGREEMEN

TPARTONE:SPECIALCONDITION

ArticleIX

additionalcovenants-2TheBorrowerherebyconsentsgenerallytothegivingofanyreliefortheissueofanyproceedingsincluding,withoutlimitation,themaking,enforcementorexecutionagainstanypropertywhatsoever(irrespectiveofitsuseorintendeduse)ofanyorderorjudgmentwhichmaybemadeorgiveninsuchactionorproceedings.LOANAGREEMENT

PARTTWO:GENERALCONDITIONS

ArticleIApplicationofGeneralConditions

ThepoliciesembodiedintheseGeneralConditionsapplytotherespectiveloanagreementsenteredintobytheExport-ImportBankofJapanwithitscorporateborrowers,andaccordinglytheprovisionshereofformanintegralpartofthisAgreement.(1)Forthepurposesoftheobligationscontractedbetweentheparties,thefollowingdefinitionsareadopted:ArticleVI

RepresentationsandWarranties(4)(NoContravention)Theexecution,deliveryandperformanceofthisAgreementandallinstrumentsoragreementsrequiredhereunderdonotandwouldnotcontravene,violateorconstituteadefaultunder(a)anyprovisionofanyconstituentdocumentoftheBorrower;(b)anyprovisionofanyagreementorotherinstrumenttowhichtheBorroweroranyofitsassetsisormaybebound;(c)anytreaty,laworregulationapplicabletotheBorrower;or(d)anyjudgment,injunction,orderordecreebindingupontheBorroweroranyofitsassets,norwouldthesameresultincreationorimpositionofanyEncumbranceonanyassetoftheBorrower.ArticleVI

RepresentationsandWarranties(5)(NoDefault)NoDefaulthasoccurredandiscontinuingorwouldresultfromthemakingofanyDisbursementhereunderandnoeventhasoccurredandiscontinuingorwouldresultfromthemakingofanyDisbursementhereunderwhichconstitutesorwhich,uponthelapseoftimeorthegivingofnoticeorboth,wouldbecomeadefaultunderanyagreement,mortgage,indenture,noteorotherinstrumenttowhichtheBorrowerisapartyorbywhichtheBorroweroranyofitsassetsisormaybebound.ArticleVI

RepresentationsandWarranties(6)(Litigation)Therearenolegal,administrativeorotheractions,claimsorotherproceedingscurrent,pendingorthreatenedagainsttheBorrowerorinconnetionwiththeProjectinwhichthereisareasonablepossibilityofanadversedecisionwhichcouldmateriallyandadverselyaffectthefinancialconditionorbusinessoftheBorroweroroperationsorcompletionoftheProjectorcouldmateriallyandadverselyaffecttheBorrower’sabilitytoperformitsobligationsunderthisAgreementorwhichinanymannerdrawsintoquestionthelegality,validityorbindingeffectofanyprovisionofthisAgreement.ArticleVI

RepresentationsandWarrantiesTherepresentationsandwarrantiesoftheBorrowermadeandgivenaboveorintheSpecialConditionsarecontinuingrepresentationsandwarrantiesandshallsurvivetheexecutionofthisAgreementandshallbedeemedtoberepeatedbytheBorroweronandasofthedateofeachDisbursement,andonandasofeachInterestPaymentDateonorbeforetheFinalDisbursementDateineachcasewithreferencetothefactsthenexisting.三、国际融资担保（一）信用担保与见索即付担保1、信用担保-见索即付担保ICCURDG458(1992)

ICCURDG458(1992)

A．本规则的范围与适用第一条

保函注明适用本规