Unit7國際結算

1、Unit 7International trade settlementDefinition of International trade settlementvFinancial activities conducted though banks among different countries, in which payments are effected or funds are transferred from one country to another in order to settle accounts, debts, claims,etc text contentvThe

2、text is divided by two parts:vMeans of payment in international tradevModes of international paymentMeans of payment in international tradevThe three important negotiable instruments: vbills of exchangevpromissory note vcheque or checkModes of international paymentvremittancev collection v L/C. vSb1

3、draw a draft on sb21向2開出匯票,要求2付款Definition of bill of exchangevA 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 demand or at a fixed or determinable future time a sum ce

4、rtain in money to or to the order of a specified person , or to the bearer.v匯票是由出票人向另一人簽發(fā)的，要求即期、匯票是由出票人向另一人簽發(fā)的，要求即期、定期或在可以確定的將來的時間，向某人或定期或在可以確定的將來的時間，向某人或其指定人或來人無條件地支付一定金額的書其指定人或來人無條件地支付一定金額的書面命令。面命令。Nature: unconditional order in writing Basic three parties Tenor Amountdrawerdraweepayeeon demand/at

5、 sightfixed future timedeterminable future timeHow to remember the definition of a bill of exchange?amount in figures or in wordsActs of a bill of exchange匯票的票據行為匯票的票據行為vIssuance 出票出票vEndorsement 背書背書vPresentment 提示提示vAcceptance 承兌承兌vPayment 付款付款vDishonor 拒付拒付vNotice of dishonor 退票通知退票通知vRight of re

6、course 追索權追索權vDiscounting 貼現(xiàn)貼現(xiàn)Sight DraftvExchange for USD25,000 Shanghai,March 19th,2001v At sight pay to the order of the Bank of Chinav the sum of twenty-five thousand US dollars onlyv Value receivedv vTo The Citi Bank For China National Chemicals Import & Exportv New York, N.Y.U.S.A. Corporation

7、, S.B. v (signature) promissory noteA promissory note is unconditional promise in writing , made by one person（maker) to another(payee), signed by the maker,engaging to pay on demand or at fixed or determinable future time , a sum certain in money to or to the order of a specified person or to beare

8、r. 本票是一人本票是一人(制票人制票人)向另一人向另一人(收款人收款人)簽發(fā)的，簽發(fā)的，保證即期或定期或在可以確定的將來時間，保證即期或定期或在可以確定的將來時間，對某人或其指定人或執(zhí)票人支付一定金額的對某人或其指定人或執(zhí)票人支付一定金額的無條件書面承諾。無條件書面承諾。vPromissory Note New York, April 1, 2001v v For USD99,999.00vOn the 20th June 2001 fixed by the promissory note we promise to pay BA the sum Of ninety-nine thousan

9、d nine hundred and ninety-nine US Dollars onlyv v For and on behalf of v DC v (signed)Maker and payer are the same personIt is an unconditional promise in writing Two basic parties: maker, payee There is no acceptance on it The maker is the primarily liable partycheckA check is an unconditional orde

10、r in writing, addressed by the customer(the drawer)to a bank(the drawee)signed by that customer authorizing the bank to pay on demand a specified sum of money to or to the order of a named person or to bearer (the payee).支票是支票是銀行存款戶銀行存款戶對其開立賬戶的對其開立賬戶的銀行銀行簽發(fā)的簽發(fā)的，授權該銀行對某人或其指定人或執(zhí)票來人，授權該銀行對某人或其指定人或執(zhí)票來人即

11、期支付即期支付一定金額的書面無條件支付命令。一定金額的書面無條件支付命令。A check is a bill of exchange drawn on a bank payable on demand.checkCheck for USD 100,000.00 Shanghai, May 4, 2001Pay to the order of John Smith the sum of ten thousand US dollars vTo: Bank of China For China NationalArts&Craftsv Shanghai, China Import. &Export

12、Corpv (Signed)v A check must be unconditional A check must be drawn on a bank A sum certain in money must be written on a check, which should be signed by or per procurement for the drawer The date of a check is not essential in that it can be antedated, post-dated or dated on a non-business day The

13、 payee may be bearer, a specified person or his order. The mode of international paymentvRemittance v1.By mail transfer v2. By telegraphic transfer v3. By demand draftRemittancevRemittance is to deliver the payment of the goods to the seller by bank transfer. In remittance, there are four parties in

14、volved: the remitter, the beneficiary, the remitting bank and the paying bank.vBy demand draft, the buyer will come to the local bank to buy a bankers bill and then deliver it to the seller or beneficiary by mail. When the seller of beneficiary receives it, he will come to the bank designated by the

15、 bankers bill for cash.CollectionvUnder collection, the exporter takes the initiative to collect the payment from the buyer. Upon the delivery of the goods, the exporter draws a bill of exchange on the importer for the sum due, with or without relevant shipping documents attached, and authorizes his

16、 bank to effect the collection of the payment through its branch bank or correspondent bank in the country of importer.vdocumentary collection (跟單托收跟單托收) or clean collection (光票托收光票托收) vtwo typesv1. Documents Against Payment (D/P)2. Documents Against Acceptance (D/A)vParties Involved in Collection(a

17、) The Principal (exporter or seller) 出票人出票人(b) The remitting bank (A bank at the place of the seller) 托收行托收行v (c) The collecting bank (correspondent or branch of the remittingbank) 代收行代收行(d) Drawee (buyer or importer) 受票人受票人Documents Against Payment (D/P)vUnder D/P, the buyer can receive the shippin

18、g documents only after he has duly made the payment of the goods. It can be further be of 2 types: D/P at sight and D/P after sight (date).即期匯票即期匯票Exchange for Exchange for HKD21 500.00HKD21 500.00 Tianjin,15 April 2004 Tianjin,15 April 2004D/P AtD/P At* * * *sight of this first Exchange(Second of t

19、he sight of this first Exchange(Second of the same tenor and date unpaid)pay to the order of same tenor and date unpaid)pay to the order of The The Industrial and Commercial Bank of ChinaIndustrial and Commercial Bank of ChinaHongkong dollars twenty one thousand five hundred onlyHongkong dollars twe

20、nty one thousand five hundred onlyDrawn against Drawn against shipment of 22 bales of pongee from shipment of 22 bales of pongee from Tianjin to Hongkong for collectionTianjin to Hongkong for collectionTo To Sunlight garments CompanySunlight garments Company 314 Locky Road,314 Locky Road, Hongkong H

21、ongkongDocuments Against Acceptance (D/A)vUnder the D/A, the buyer can get the shipping documents from the collecting bank after he has duly accepted the draft. This is only applicable to time draft. This is greatly convenience to the buyer, but it means much more risk for the seller, for once he ha

22、s delivered the shipping documents, he will have lost his title over the goods.遠期匯票遠期匯票Exchange for Exchange for HKD18 600.00HKD18 600.00 Tianjin,20 April 2004 Tianjin,20 April 2004D/A At D/A At 30 days30 days after sight of this first after sight of this first Exchange(Second of the same tenor and

23、date Exchange(Second of the same tenor and date unpaid)pay to the order of unpaid)pay to the order of Nanyang Commercial Bank Nanyang Commercial Bank Ltd.Ltd.Hongkong dollars eighteen thousand six hundred onlyHongkong dollars eighteen thousand six hundred onlyDrawn against Drawn against shipment of

24、Cashmere Coats from Tianjin shipment of Cashmere Coats from Tianjin to Hongkong for collectionto Hongkong for collectionTo To Sunlight garments CompanySunlight garments Company 314 Locky Road, 314 Locky Road, Hongkong Hongkong letter of creditvThe documentary credit or letter of credit is an underta

25、king issued by a bank for the account of the buyer(the applicant) or for its own account, to pay the beneficiary the value of the draft and/or documents provided that the terms and conditions of the documentary credit are complied with.v跟單信用證或信用證是銀行（開證行）根據跟單信用證或信用證是銀行（開證行）根據買方（申請人）的要求和指示或以銀行自身買方（申請人

26、）的要求和指示或以銀行自身的名義開立的，的名義開立的，憑憑 符合信用證條款的單據符合信用證條款的單據，向賣方（受益人）支付一定金額的向賣方（受益人）支付一定金額的書面承諾書面承諾vi.向向第三者第三者或其指定人進行付款，或支付或承或其指定人進行付款，或支付或承兌受益人開立的匯票；兌受益人開立的匯票；ii.授權另一家銀行進行該項付款，或承兌和支授權另一家銀行進行該項付款，或承兌和支付匯票；付匯票；viii.授權另一家銀行議付授權另一家銀行議付vA letter from a bank guaranteeing that a buyers payment to a seller will be r

27、eceived on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.vThe issuing bank undertakes to effect payment, quite independent of whether the applicant is bankrupt or

28、 is in default or not, provided the documents presented are in compliance with the terms and conditions of the credit.Function of L/CvThe L/C solves the possible problems arising from the distrust between the seller and the buyer. Under L/C, the seller can feel assured that so long as he has made th

29、e delivery of the goods and got the required documents he can get the payment of the goods in time and the buyer can also feel at ease that he can get the shipping documents at the same time when he effects the payment of the goods. Parties involved in a documentary credit v一、開證申請人一、開證申請人(APPLICANT)

30、v二、開證行二、開證行(ISSUING BANK/OPENING BANK)v三、通知行三、通知行(ADVISING BANK)v四、受益人四、受益人(BENEFICIARY)v五、保兌行五、保兌行(CONFIRMING BANK)v六、議付行六、議付行(NEGOTIATING BANK)v七、付款行七、付款行(PAYING BANK)v八、承兌行八、承兌行(ACCEPTING BANK)v九、償付行九、償付行(REIMBERSING BANK)信用證的種類v普通信用證v光票信用證光票信用證 Clean Creditv跟單信用證跟單信用證 Documentary Credit可撤銷信用證可撤銷

31、信用證 Revocable Credit不可撤銷信用證不可撤銷信用證 Irrevocable Credit即期付款信用證即期付款信用證 Sight Payment Credit延期付款信用證延期付款信用證 Deferred Payment Creditv特殊信用證特殊信用證v可轉讓信用證可轉讓信用證 Transferable Creditv對背信用證對背信用證 Back to Back Creditv對開信用證對開信用證 Reciprocal Creditv循環(huán)信用證循環(huán)信用證 Revolving CreditvRed clause/Anticipatory credit紅條款紅條款/預支預支

32、信用證信用證Useful wordsvMeansvillegal means v非法手段vTry every means v盡力vends and means v目的與手段vrecourse vEndorsement without recourse( sans recourse) v無追索權背書 v4.With recourse or without recourse L/C v有追索權或無追索權的信用證v5.No recourse was left. v無可依賴了。 v6.Draft( bill) without recourse v無追索權匯票 vapply to v1. 涂抹, 貼2.

33、 適用于3. 運用4. 向申請要求5. 致力于, 專心于vWill apply to college. vapply to sb. for sth. v向.申請得到.vapply theory to practice v把理論應用于實踐ventrustventrust sb. with sth. v把某事委托給某人 ventrust the key to someone v把鑰匙交給某人保管priorityvn. v1. 優(yōu)先權, 重點2. 優(yōu)先考慮的事3. （車輛的）優(yōu)先通行權4. 先；前；(時間上)在前 5. 優(yōu)先；在先；上席；上位vI have priority vassign a priority to. v給某事物以優(yōu)先考慮的待遇vestablish an order of priority v按重要性確定.的次序vGetting food is the main priority. 得到食物是得到食物是優(yōu)先優(yōu)先考慮的事情。考慮的事情。exercise vTranslate the following sentences into English with the phrases give