国际结算上课讲义

国际结算
Translation
1.无追索权的 without recourse
2.投标保函Tender Guarantee
3.备用信用证 stand-by credit
4.托收出口押汇collection bill purchased
5.善意持票人 bona-fide holder
6.信托收据Trust receipt
7.承兑交单documents against acceptance
8.拒付通知notice of dishonor
9.循环信用证Revolving Credit
10.空白背书 blank endorsement
1.Acceptance for honor 参加承兑
2.After sight 见票即付
3.Short form bill of lading 简式提单
4.Mail remittance 信汇
5.Countermand of payment 止付
6.Clearing bank 清算银行
7.Proforma invoice 形式发票
8.Subsequent holder 后手
9.Disclosed factoring 公开保理
10.Shipping mark 唛头
1.CIF 到岸价
2.Advance payment 预付款
3.Correspondent bank 代理银行
4.Test key 密押
5.Confirmed letter of credit 保兑信用证
6.Subsequent endorser 后手
7.Direct guarantee 直接担保
8.Deferred credit 延期付款信用证
9.Insurance certificate 保险证书，小保单
10.Clean bill of lading 清洁提单
1.原产地证书 certificate of original
2.经常账户 current account
3.金融单据 financial document
4.参加承兑人 acceptor for honor
5.商业发票 commercial invoice
6.承兑交单 documents against acceptance
7.账户关系
8.贷记通知 credit advice
9.电汇 telegraphic transfer
10.银行信用 the reputation of the bank
Multiple Choice
1.If bank of china instructs bank of America to pay a sum of USD1,000,000.00 to Midland,
its nostro account will be
A.credited
B. debited
C. increased
D. decreased
Nostro account 往账，我行在他行开立的存款账户
2.if a bill is payable “60 days after date”, the date of payment id decided according to
A.the date of acceptance
B.the date of presentation
C.the date of the bill
D.the date of maturity
At days/month(s) after date
出票后若干天、月付款
3.A(n)______ is a financial document.
A.bill of exchange
B.bill of lading
C.insurance policy
mercial invoice
“Financial Documents” means bills of exchange, promissory notes, cheques, or other similar instruments used for obtaining the payment of money.
“Commercial Documents” means invoices, transport documents of title or other similar documents, or any other documents whatsoever, not being financial documents.
4.The party to whom the bill is addressed is called the ______
A.drawer
B.drawee
C.payee
D.drawer
5.To the importer, the fastest and safest method of settlement is
A.letter of credit
B.cash in advance
C.open account
D.collection
Open account business 赊账业务
Payment after Arrival of the Goods which is adopted in international trade is usually effected by remittance too, and is advantageous to importer
6.Which of the following is based on commercial credit?
A.letter of credit
B.bank letter of guarantee
C.collection
D.insurance
7.Which type of collection offers greatest security to the exporter?
A.Documents against acceptance
B.Documents against payment
C.Clean collection
D.Acceptance D/P
8.The principal is generally the customer of a bank who prepares documentation and
submits them to the_____ bank with a collection order for payment from the buyer (drawee).
A.remitting
B.collecting
C.presenting
D.correspondent
9. A letter of credit is_______
A. a formal guarantee of payment
B. a conditional undertaking to make payment
C.an unconditional undertaking to make payment
D. a two bank guarantee of payment
The documentary credit跟单信用证 or letter of credit is an undertaking(保证) 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完全符合.
10.From the point of view of a Chinese,_____is our bank’s account in the books of an
overseas bank,denominated in foreign currency.
A. a vostro account
B. a nostro account
C. a mirror account
D. a record account
11. If a bill is payable “120 days after date”, the date of payment id decided according to
A.the date of acceptance
B.the date of presentation
C.the date of the bill
D.the date of maturity
12. A(n)_____is a commercial document.
A.bill of exchange
B.bill of lading
C.promissory check
D.check
“Financial Documents” means bills of exchange, promissory notes, cheques, or other similar instruments used for obtaining the payment of money.
“Commercial Documents” means in voices, transport documents of title or other similar documents, or any other documents whatsoever, not being financial documents.
13.The party to whom the bill is addressed is called the_____
A.drawer
B.drawee
C.payee
D.payer
14. Which of the following is based on banker’s credit?
A.Letter of credit
B.D/P
C.D/A
D.T/T
15._____is a compromised method between open account and cash in advance.
A. Letter of guarantee
B. remittance
C. treasury bills
D. Documentary collection
16.The various methods of settlement all involve the same book keeping记账. The only
Difference is
A.the method by which the overseas bank is advised about the transfer
B.the method by which the beneficiary is advised about the transfer
C.the speed
D.the beneficiary
17.If a London Bank makes a payment to a correspondent abroad,_____
A.it will remit the sum abroad
B.the foreign bank’s vostro account will be credited
C.the London bank’s nostro account will be credited
D.either A or B
18.Which type of collection offers the greatest security to the importer?
A.Documents against acceptance
B.Documents against payment
C.Clean collection
D.Acceptance D/P
19. The principal is generally the customer of a bank who prepares
documentation and submits them to the_____ bank with a collection order for payment from the buyer (drawee).
A. remitting
B. collecting
C. presenting
D. correspondent
20. If the credit stipulates shipment on or about December 18,2012,then the date of
on board bill of lading may be_____
A. December 28, 2012
B. December 12, 2012
C. December 18, 2012
D. B or C
1. Please state the simplified remittance diagram
2. Please state the difference between documents against payment and documents
against acceptance
3. Please state the simplified D/A diagram
4. Please illustrates the documents against payment transaction flow.
5. Compare with the back-to-back L/C and transferable L/C, explain their similarity
and difference
Similarities:
1. Both of them have middle men and second beneficiaries. And middle man
can get price difference by keeping business secrets.
2. Middle men bear the cost.
3. The amount, unit cost, shipment date on letters of credit can be amended by
middle men.
Differences:
1. Transferable L/C involves an applicant, a issuing bank, a letter of credit
while back-to-back L/C involves two applicants, two issuing banks, two
letters of credit.
2. Transferable credit: the original issuing bank takes responsibility for the credit
Back-to-back credit: the original issuing bank doesn’t take responsibility for
the new credit.
3. Transferable credit: the credit can’t be transferred without the express
content of
issuing bank.
Back-to-back credit: the new credit can be opened by middle men without
the original bank’s consent and even w ithout prior notice to the original
bank
4. Transferable credit: the middle man becomes the first beneficiary from the beneficiary
Back-to-back credit: the middle man becomes the applicant from the
beneficiary.
6. Explain the role of commercial invoices
1.The commercial invoice is the key accounting document describing the comm
ercial transaction between the buyer and the seller. It is a document giving det
ails of goods, service, price, quantity, settlement terms and shipment.
2.It make it is convenient for importers to check whether the delivered goods is
corresponded to the contract.
3. It can be viewed as accounting basis for importers and exporters.
4. It can be basis of calculating customs duty for export place and import place.
mercial invoice can be used to be the basis of payment to take the place of
draft.
（1）商业发票是全部单据的中心，是出口商装运货物并表明是否履约的总说明。

（2）便于进口商核对已发货物是否符合合同条款的规定。

（3）作为出口商和进口商记帐的依据。

（4）在出口地和进口地作为报关缴税的计算依据。

（5）在不用汇票的情况下，发票替代汇票作为付款的依据。

7. Compare with the Stand by L/C and L/G, explain their similarity and difference
Similarities:
1.They both have standby characteristics.
2.When present documents, they both need to present claims statement.
Differences:
1.L/G and standby L/C are restricted by differences international conventions.
L/G’s international convention is <<Uniform Rules for Demand Guarantee, Publication No.458>>
Standby L/C’s convention is <<The International standby practices ISP98>>.
1.According to <<Uniform Rules for Demand Guarantee, Publication No.458>>, the right of
claim for the beneficiary under the L/G items is non-transferable, while there are some provision and clauses about transferable rights in <<The International standby practices ISP98>> , which means that standby L/C is allowed to transfer,.
2.L/G has counter guarantee to guarantee, while standby L/C has no such items.
3.The obligation of L/G is Primary obligation or secondary obligation, while standby L/C always
has primary obligation.
相同之处：
1、两者都是备用性质的。

2、在要求提交的单据方面，都要求提交索偿声明。

不同之处：
首先，保函与备用证受到不同的国际惯例的约束。

保函的国际惯例有《见索即付保函统一规则》（国际商会458号出版物）。

备用证的国际惯例如前所介绍是《国际备用证惯例ISP98》。

其次，《见索即付保函统一规则》（国际商会458号出版物）规定保函项下受益人索赔的权利不可转让；而《国际备用证惯例ISP98》中订有备用证受益人的提款权利转让办法的有关条款，意味了备用证是允许转让
的。

第三，保函有反担保作保证。

备用证方式下无此项目。

第四，保函有负第一性付款责任的，也有负第二性付款责任的，而备用信用证总是负第一性付款责任的。

8. Please state the difference between Draft and Check
1. A bill of exchange may be payable at sight or at future day，check must be
paid at sight
2. A bill of exchange may be drawn upon any person, whereas a check must be
drawn upon a banker.
3.Unless a bill is payable on demand, it is usually accepted, whereupon the
acceptor is the primarily liable party. A check need not be accepted for it is payable only on demand and the drawer is the party primarily liable.
4. A bill must be presented for payment when due, or else the drawer will be
discharged. A check must be presented for payment within a reasonable time or within a certain time. Such as 30 days according to the regulations of the country concerned. The drawer of a check is not discharged even though it has not been presented for payment within the stipulated time unless the delay in presentation incurs losses to the drawer.
5.bill of exchange can be issue by set, but check can issue one piece
1.Who are the three basic parties respectively in this exchange?
Drawer: Chartered Bank
Drawee: BCD bank
Payee:ABC Co.
2.When is the issuing date? And where is the issuing place?
New York,May.30,2011
3.If the drawee accepted this draft, please do this acceptance.
Accepted
30,May,2011
For BCD bank
(signature)
Accepted
Date
For drawee
(signature)
4.When is the maturity date of this exchange? Where can the payee get the money?
July.30, 2011 is the maturity date. London
“算尾不算头；月为日历月，月之同日为到期日，无同日即月之末日付款；假日顺延”
5.If the ABC Co. wants to transfer this draft to H Company, please do the special
endorsement.
Pay to H Company
For ABC Co.
(signature)
DRAFT 1
Exchange for £50,000 New York,May.30,2011
At two month after date pay to the order of ABC Co. the sum of US Dollars fifty thousand only
To BCD Bank
London
For Chartered Bank
New York
(Signed)
DRAFT 2
Drawer：China National Arts & Crafts
Import& Export Corporation
Amount:USD 10,000
Drawee: The Citi Bank New York,N.Y.U.S.A
Payee: the Bank of China
Date of issue: December 16, 2012
Tenor: at sight
DRAFT
Exchange for USD10,000 New York,16,Dec,2012 At sight pay to the order of the Bank of China
The sum of TEN THOUSAND DOLLARS
To The Citi Bank For China National Arts & Crafts
New York,N.Y.U.S.A Import& Export Corporation
T/F
T 1. Under the term CFR运费在内条件（Cost and Freight）, it is the seller’s responsibility to procure the insurance for the goods transported.
卖方须负担货物至指定目的港为止所需的费用及运费
F 2. From an American bank’s view, a nostro account is a dollar account held for its
overseas correspondents.
F 3. A draft is a conditional order in writing.
Unconditional order
F 4. A bill payable “at 90days sight “is a sight bill.
Usance bill
T 5. A confirmed credit gives the beneficiary a double assurance of payment.
F 6. If a credit is issued by airmail, it ought to be authenticated by test mail.
T 7. If the credit is a deferred payment credit, there is no need to draw a draft.
T 8. Documents against payment means collecting bank may release the documents only against full and immediate payment.
9. The issuing bank’s signature is only to be placed on the advice for the beneficiary.
F 10. Bill of exchange was created in sixteenth century.
Thirteenth century
F 11. Normally, the exporter prefers D/A to D/P
F 12. Under documentary credit, the negotiating bank has no obligation to examine
documents. If all the credit terms are met, the negotiating bank will buy
the exporter’s drafts with or without recourse and then it will send the
drafts and documents to the issuing bank for reimbursement.
T 13. A bill of exchange has three basic parties, namely the drawer, drawee and the payee.
F 14. An irrevocable credit cannot be amended, revoked or cancelled.
it can’t be cancelled/modified without the express consent(同意) of the
issuing bank, the confirming bank(if any) and the beneficiary
F 15. A promissory note is an unconditional order in writing.
Promise
F 16. Under the term FOB离岸价格, it is the seller’ responsibility to procure the
insurance for the goods transported. Buyer。