国际结算整理版(2)

国际结算整理

名词解释：

Bill of exchange(汇票):

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 demand or at sight or at a fixed or determinable future time a sum certain in money to ,or to the order of, a specified person or to the bearer.

Promissory note（本票）：

An unconditional promise in writing signed by the maker engaging to pay on demand or at a fixed or determinable future time a sum certain in money to pr to the order of a specified person or to bearer.

Cheque(支票):

A bill of exchange which is drawn on a bank and is payable on demand.

Remittance（汇款）

means Refer to transfer of funds from one party to another among different countries through banks.

telegraphic transfer(T/T) 电汇：

telegraphic transfer is a remittance, at the request of a remitter ,effected by an authenticated cable or telex or SWIFI sent by a remitting bank to a paying bank instructing the latter to pay a certain sum in money to a designated payee of the remittance demand draft transfer (D/D) 票汇：

The remitting bank at the request of the remitter draws a bill of exchange on the paying bank, ordering the latter to pay on demand on a certain sum of money to the payee

Mail transfer(M/T) 信汇：

The mail transfer is a remittance, at the request of a remitter, effected by a mail advice or payment order sent by a remitting bank to a paying bank authorizing the latter to pay a certain sum in money to a designated payee of the remittance

Collection托收:

An arrangement whereby the goods are shipped and a relevant bill of exchange is drawn by seller on buyer, and/or shipping documents are forwarded to seller’s bank with clear instructions for collection through one of its correspondent bank located in the domicile of buyer.

Documentary Collection (跟单托收):

the collection of financial documents

accompanied by commercial documents and commercial documents not accompanied by financial documents

Clean Collection(光票托收):

the collection of financial documents not accompanied by commercial documents.

Outward Collection and inward collection:

From the view point of remitting bankthe transaction is “outward collection”.From the view point of collecting bank the deal is “inward collection”

letter of credit（documentary credit）信用证：

documentary credit or letter of credit is an undertaking in writing issued by a bank for account of the buyer or for its own account, to pay the beneficiary the value of the draft

irrevocable letter of credit不可撤销信用证：

means a definite undertaking of confirming bank, in addition to that of the issuing bank, to honor or negotiating a complying presentation. When a confirmation is added to an irrevocable credit by another bank, the credit become a confirmed, irrevocable credit.

transferable Credit可转让信用证：

transferable Credit is a type of credit under which the first beneficiary which is usually a middleman may request the nominated bank to transfer credit in whole or in part to the second beneficiary

sight credit即期信用证:

sight credit states that payments would be made by the issuing bank at sight , on demand or on presentation.

Deferred payment credit 延期信用证：

means under a deferred payment credit, the beneficiary does not receive payment when he presents the documents, but at a later date after B/L date or presentation of documents.

Negotiate credit议付信用证：

means a negotiation credit refers to the credit under which the issuing bank authorizes other nominated banks to purchase the drafts and/or documents presented by the beneficiary.

Straight credit 直接付款信用证：

means a straight credit conveys a commitment by the issuing bank to only honor drafts or documents as presented by the beneficiary of the credit and expires at the counter of the issuing bank.

letter of guarantee保函:A letter of guarantee is a document that is often issued by a bank or other financial institution.

二、简答题：

一、三种汇款方式的异同点：

比较M/T,P/T,D/T三种汇款方式的区别、特点

1、In common: the remitter in the remitting bank handle remittance, all should issue the remittance application, it is formed between the remitting bank remittance and a contract. The three transfer direction and capital flow to the same, all belong to the remittance.

2、 Telegraphic Transfer (T/T)： fast and expensive

Mail Transfer (M/T)： slow and cheap

Demand Draft (D/D)：slow and easy to be negotiated

3、In payment in advance, T/T is often used to accelerate exporter’s delivery of goods. The payment is called “down payment”.In open account, M/T or D/D is used, for importer wants to have control over remitting time so that the remittance would not arrives at exporter’s place until the importer has confirmed the quality of importing goods.

二、跟单托收的进出口风险，如何规避？

Risk for exporter

（1）、Refuse to pay or accept time draft on some smallinadvertent infraction of the sales contract.

（2）、Demand deep cut down of price, or refuse to accept the goods.

3、A heavy storage charge, fire insurance, demurrage and great expenses and time delay if court action is taken.

Risk for importer

1. Might be fraudulent documents.

2. Might be defective or dummy or not the model ordered by importer

3. Late shipment, and miss the optimal selling seasons.

4. In advance payment , can not inspect goods beforehand.

5. Dishonor would ruin importer’s reputation.

Protection for exporter:Financial credit and operational style of importer.Market trend of importing country.Whether import license or foreign exchange has been approved by relative authority.Whether political situation in importing country is steady.

Whether a case of need could be found once dishonor happens, who could help handle returned goods, e.g warehousing and insuring the goods, arranging shipment of returned goods, finding another buyer for exporter, etc.

Protection for importer:

1.Investigate exporter’s reputation and deal only with creditworthy exporters.

2.If it is time payment, payment time can be XX days/months after Bill of Lading date, which means that earlier delivery,earlier payment.

3.Choose the most the favorable procedure of documents delivery basing on the credit standing, financial capability, market trend.

e.g. if price is going high, use D/P. If price is going down,use D/A

Use D/P at tenor as possible as you can to confirm if goods arrive at the harbor of your country.

三、跟单信用证下进出口双方的风险，如何规避？

Risk for exporter

1、The l/c system risks. the l/c is a kind of business documents.

信用证制度存在的风险信用证是一种单据业务。

2、The exporter and ship company's credit risk credit under some exporters use bank only audit documents are not review the characteristics of counterfeit goods, bill of lading the sale of some of the goods does not exist, or bill of lading the cargo and the actual goods not consistent。

出口商与船公司的信用风险信用证项下一些出口商利用银行只审核单据不审核货物的特点，伪造提单销售一些根本不存在的货物，或者提单所载货物与实际货物完全不一致

3、Goods quality risk from 。the l/c documents business characteristic look, importers only in payment or acceptance of the real right to get including documents, the full set of documents, can by extraction goods. In delivery before, the importer can't learn the exporters of the shipment whether there are quality problem, this will give the importer caused great passive.

货物质量风险从信用证单据买卖的特性看，进口商只有在付款或承兑之后才能得到包括物权单据在内的全套单据，才能凭以提取货物。而在提货之前，进口商无法获悉出口商所发运的货物是否存在质量问题，这就给进口商造成很大被动。

Risk for importer

1、Exchange rate changes needed - remittance currency appreciation

2、Market changes - low commodity prices fall

汇率变动——所需汇付的货币增值

市场变化——商品价格跌低

Evade method规避方法：

1、First of all, we must earnestly repair system sales contract.

首先，必须认真缮制销售合同。

2、Secondly, the seller, after receipt of your l/c must be timely, carefully check. Usually, after receiving the l/c, the seller is

according to the terms of the sales contract began to stock up, ready to shipment.

其次，卖方收到信用证后，必须及时、认真地核查。

3、The point is that the owner don't in order to obtain a clean bill of lading issued by the carrier to guarantee.

最后要说明的是，货主不要为了获得清洁提单而向承运人出具保函。

四、可转让与背对背信用证异同

The comparison of Transferable LC and Back-to-Back LC：

similarities相同点：

Both credits involve a middleman as a seller

Both credits involve the substitution of documents

differences不同点:

(1)transferred credit expires at the counter of transferring bank

Back-to-back credit expires at the counter of 2nd issuing bank

(2) In transferred credit, second beneficiary obtains payment undertaking of issuing bank in the transferable LC.

In Back-to-back credit, second beneficiary does not obtain issuin g bank’s undertaking of payment in the original credit

(3) transferred amount no longer exists in transferred LC

In Back-to-back credit transaction, two separate LCs coexist

（4）Transferable credit is issued at the request of applicant with consent of Issuing Bank.

Back-to-back credit is not the intention of applicant and Issuing Bank in master credit

五、Difference between L/C and L/G

Letter of Credit：1. Documents are to evidence the performance of beneficiary

2. Document requirement is complex

3. Title document – transport document is important

4. Applicant is always the buyer

5. Beneficiary is always the seller

6. It can be demand or time payment- acceptance LC- deferred payment LC

7. It is subject to UCP500

Letter of Guarantee：1. Documents are to evidence non-

performance (default) of applicant

2. Document requirement simple

3. Transport document is not important

4. Applicants can be buyer or seller

5. Beneficiary can be seller or buyer

6. It can only be demand payment

7. It is subject to URDG458

六、Comparison Between L/G and Standby Credit

L/G、Standby LC

Similarity

1、based on banker’s credit standing, pay against stipulated documents

2、Bankers take primary liability in the payment.

3、Documents requirements are simple

4、Separate from underlying contracts.

Difference:

1. Only at sight and can not be negotiated 1. At sight or at tenor and can be negotiated

2. Subject to URDG458 2. Subject to Int’l Standby Practice 1998

3. Accessory guarantee and independent guarantee 3. Only independent guarantee More difference can be found in URDG and ISP 98