國(guó)際結(jié)算全集合155P課件

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(票據(jù)): 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)環(huán)球同業(yè)銀行金融電訊協(xié)會(huì) 特點(diǎn):標(biāo)準(zhǔn)化;安全可靠,自動(dòng)加核密押;高速度,低費(fèi)用. 業(yè)務(wù)分類:客戶匯款(custome

5、r transfer);銀行頭寸調(diào)撥(bank transfer);外匯業(yè)務(wù)(foreign exchange confirmations);托收業(yè)務(wù)(collections);證券業(yè)務(wù)(securities);貴金屬和銀團(tuán)貸款業(yè)務(wù)(precious metals and syndication);信用證和保函(documentary credits and guarantees);旅行支票(travelers cheques);銀行帳單處理業(yè)務(wù)(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授權(quán)簽字樣本Telegraphic test key/SWIFT authentic key密押Schedule of terms and conditions費(fèi)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 過戶轉(zhuǎn)讓（assignment）非流通 特點(diǎn)：書面形式 轉(zhuǎn)讓通知原債務(wù)人或登記過戶 受讓人權(quán)利受前手缺陷的影響 當(dāng)事人：轉(zhuǎn)讓人、受讓人、原始債務(wù)人交付轉(zhuǎn)讓(transfer) 準(zhǔn)流通或半流通特點(diǎn)：交付背書轉(zhuǎn)讓 不通知原債務(wù)人 受讓人的權(quán)利受前手權(quán)利缺陷的影響 當(dāng)事人：轉(zhuǎn)讓人，受讓人 流通轉(zhuǎn)讓(negot

12、iation) 完全流通特點(diǎn)：正當(dāng)受讓人權(quán)利優(yōu)于前手，不受其缺陷的影響 forms of circulation舉例說明：甲欠乙100元而出具以乙為債權(quán)人的字據(jù)給乙，讓其憑字據(jù)找丙去取，同時(shí)乙原來曾欠丙30元未還，隨后乙將此字據(jù)又轉(zhuǎn)讓給丁。問丁能否從丙處獲得全額款項(xiàng)？如是字據(jù)，按民法原則，丙可采取將其對(duì)乙的30元債權(quán)轉(zhuǎn)讓給丁的辦法來沖抵而只需付70如是票據(jù)，按票據(jù)法原則，必須全額付款，而不能用乙的權(quán)利缺陷來對(duì)抗丁的正當(dāng)票據(jù)權(quán)利案例分析 1997年8月，某市A公司與新加坡B商簽訂了一份進(jìn)口膠合板的合同。合同總金額為700萬美元，支付方式為付款交單，允許分批裝運(yùn)。第一批價(jià)值為60萬美元的膠合板準(zhǔn)時(shí)

13、到貨，質(zhì)量良好，對(duì)雙方合作很滿意。就在第二批交貨期來臨之際，B商向A公司提出：鑒于貴公司資金周轉(zhuǎn)困難，為了幫助貴方，我方允許貴公司采取遠(yuǎn)期付款。 貴公司作為買方，可以給我方開出一張見票后一年付款700萬美元的匯票，請(qǐng)中國(guó)人民建設(shè)銀行某市分行承兌。承兌后，我方保證將700萬美元的膠合板在一年內(nèi)交貨。貴方全部收貨后，再付給我方700萬美元的貨款。A公司以為現(xiàn)在不付款，只開張遠(yuǎn)期票據(jù)就可得到貨物在國(guó)內(nèi)市場(chǎng)銷售，于是欣然接受了B商的建議，給B商簽發(fā)了一張見票后一年付款700萬美元的匯票。但A公司始料不及的是，B商將這張承兌了的遠(yuǎn)期票據(jù)在新加坡的美國(guó)銀行貼現(xiàn)600萬美元。從此卻一張膠合板都不交給A公司。

14、事實(shí)上，B商將這筆巨款騙到手后便無影無蹤了。一年后，新加坡的美國(guó)銀行持這張承兌了的遠(yuǎn)期票據(jù)請(qǐng)建行某市分行付款。盡管B商沒有交貨，某市分行卻不得以此為理由拒絕向善意持票人美國(guó)銀行支付票據(jù)金額。最后，由于本案金額巨大，報(bào)請(qǐng)國(guó)務(wù)院批準(zhǔn)，由建行某市分行付給美國(guó)銀行600萬美元而結(jié)案。對(duì)于這張遠(yuǎn)期票據(jù)，A公司為出票人，B商為收款人，建行某市分行為付款人。A公司與B商之間的膠合板買賣合同是該票據(jù)的原因關(guān)系，使得A公司愿意向B商開立這張匯票。A公司曾經(jīng)向建行某市分行提供了資金，它們之間的這種資金關(guān)系使得建行某市分行愿意向A公司提供信用，承兌了這張遠(yuǎn)期匯票。美國(guó)銀行與B商之間有對(duì)價(jià)關(guān)系，美國(guó)銀行善意地付了60

15、0萬美元的對(duì)價(jià)而受讓，從而成為這張匯票的善意持票人。但票據(jù)的最大特點(diǎn)就是，票據(jù)法律關(guān)系一經(jīng)形成，即與基礎(chǔ)關(guān)系相分離。票據(jù)基礎(chǔ)關(guān)系的存在和有效與否并不對(duì)善意持票人的票據(jù)權(quán)利而產(chǎn)生影響。所以，B商實(shí)際上沒有交貨，或者A公司并沒有足夠的美元存在建行，都不影響美國(guó)銀行對(duì)承兌人的付款請(qǐng)求權(quán)。對(duì)美國(guó)銀行來說，這張票據(jù)上并沒有寫膠合板，只有一句話：“見票后一年付700萬美元”。票據(jù)法律關(guān)系應(yīng)依票據(jù)法的規(guī)定加以解決，票據(jù)基礎(chǔ)關(guān)系則應(yīng)以民法規(guī)定加以解決。B商正是利用了票據(jù)的特性才行騙得逞的。舉例：甲交給乙一張經(jīng)付款銀行承兌的期票，作為向乙訂貨的預(yù)付款，乙在票據(jù)上背書后轉(zhuǎn)讓給丙以償還原欠丙的借款，丙于到期日向承兌

16、銀行提示取款，恰遇當(dāng)?shù)胤ㄔ汗嬖撔杏诋?dāng)天起進(jìn)行破產(chǎn)清理，因而被退票。丙隨即向甲追索，甲以乙所交貨物質(zhì)次為由予以拒絕，并稱已于10天前通知銀行止付，止付通知及止付理由也已通知了乙。在此情況下丙再向乙追索。乙以票據(jù)系甲開立為由推諉不理。丙遂向法院起訴，被告為甲、乙與銀行三方。你認(rèn)為法院將如何判決？ 甲、乙的拒付理由不成立，銀行已破產(chǎn)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融資工具financing instrument Functions of negotiable i

17、nstrument出票人drawer 付款人payer/drawee 收款人payee 背書人endorser 承兌人acceptor 持票人holder Parties to a negotiable instrument正當(dāng)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付對(duì)價(jià)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(第一次請(qǐng)求權(quán)，主權(quán)利)Recourse (第二次請(qǐng)求權(quán))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匯票是由一個(gè)人（drawer）向另一個(gè)人簽發(fā)的(drawee)/受票人無條件的unconditonal書面命令order in writing要求其在見票時(shí)或在未來某一規(guī)定的或可以確定的時(shí)間(tenor)將一定金額的款項(xiàng)支付給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）背書（Endorsement）提示（Presentation）承兌（Acceptance）保證（Guarantee or Aval）付款（Payment）拒付（Dishonor）追索（Recourse）參加承兌和參加付款（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融通匯票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 被融通人開出融通匯票，沒有付給對(duì)價(jià)，要求融通人（高資信的非債務(wù)人）承兌匯票（提高匯票的信用身價(jià)以便貼現(xiàn)），再交給貼現(xiàn)人予以貼現(xiàn)，獲得票款；等到匯票到期日前，被融通人應(yīng)把足額票款交給承兌人，此時(shí)貼現(xiàn)人向承兌人提示要求付款，承兌

27、人使用被融通人交來資金付款給貼現(xiàn)人，結(jié)清這筆融資業(yè)務(wù)。Accommodation bill圖示 倫敦出口公司向墨爾本一家公司出口貨款為6600英鎊，由出口商開出遠(yuǎn)期匯票，出票后60天付款。倫巴第銀行為倫敦某承兌公司。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 本票是出票人簽發(fā)的，承諾自己在見票時(shí)無條件支付確定的金額給收款人或持票人的票據(jù)。 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國(guó)際小額本票（International Money Order） 旅行支票（Travellers Cheque）中央銀行本票（Central Bankers Notes）Negotiable certificates of deposit Various bondsTypes Concept and essential itemsDifference between a bill and a chequeTypes Cheques

37、出票人簽發(fā)的，委托辦理支票存款業(yè)務(wù)的銀行或其他金融機(jī)構(gòu)在見票時(shí)無條件支付確定金額給持票人或收款人的票據(jù)。 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劃線支票（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. 現(xiàn)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&保證：保付只是支票的行為，保證是三種票據(jù)的共同行為保付只能由支票的付款人作出，保證人則可是除票據(jù)債務(wù)人以外的任何人保付人成為絕對(duì)的債務(wù)人，出票

41、人和背書人的責(zé)任便免除，保證人和被保證人都是匯票的債務(wù)人全額保付支票保付人向持票人支付了支票金額，票據(jù)關(guān)系消滅，保證人支付后，還可向被保證人和其前手追索Certified checksThe word “exchange”An unconditional order to pay A fixed amount of moneyName of the payee 1)限制性（Restricted Order） 不能流通轉(zhuǎn)讓,只有匯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） 可經(jīng)背書轉(zhuǎn)讓 p

42、ay to the order of */pay to * (or order) 3)來人抬頭（我國(guó)不允許）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) 遠(yuǎn)期付款：出票后定期certain days after date 見票后定期certain days after sight 定日付款fixed date 提單日后定日付款certain days after B/L Calculating the due date of a bill 嚴(yán)格按照匯票的文義推算，月為日歷月，半15天

44、，如遇節(jié)假日則順延 at 30 days after date; at 60 days from *Relatively necessary items利息、利率及匯率（interest ，interest and exchange rate）提示期限（Limit of time for presentation）出票依據(jù)（Drawn Clause）免作退票通知或放棄拒絕證書（Notice of Dishonor Excused or Protest Waived） 付一不付二預(yù)備付款人（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 記名背書/特別背書/正式背書/完全背書 Pay to the order of ABC Co., signed2) Blank endorsement 空白背書 3) Restrictive endorsement 限制性背書 Pay to A only/not transferable/not negotiable/pay to A bank for account of B Co.4) Endorsement for co

48、llection 委托取款背書（托收背書） 5) Endorsement for pledge質(zhì)押背書 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拒絕證書 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. 圖示Recourse 拒絕證書（Certificate of Prot

54、est）：是在拒付地點(diǎn)證明拒付事實(shí)的要式公證書。我國(guó)則是規(guī)定拒絕證明及其等效形式有： 承兌人或付款人出具的拒絕承兌書、拒絕付款書及退票理由書； 承兌人、付款人或代理付款銀行直接在匯票上記載提示日期、拒絕事由及拒絕日期并蓋章； 承兌人或付款人死亡、逃匿的有關(guān)證明（如死亡證明、失蹤證明等）； 人民法院的有關(guān)司法文書（如破產(chǎn)裁定書）；有關(guān)行政主管部門的處罰決定。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國(guó)際匯兌Reimbursement of remittance cover匯款頭寸的償付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