国际结算练习程丽萍答案完整版

国际结算练习程丽萍答案完整版
E x e r c i s e 1
⼀、Make choice of whether the following bills are acceptable or not. Mark X before
acceptable or unacceptable you chose.
(1) A bill shows: pay to ABC Co. providing the goods in compliance with contract
the sum of one thousand US Dollars. It is ?acceptable / ?unacceptable.
(2) A bill shows: pay to ABC Co. the sum of ten thousand US dollars on condition
that shipment of goods has been made. It is ? acceptable / ?unacceptable.
(3) A bill shows: On demand pay to the order of ABC Co. the sum of twenty
thousand US dollars drawn against shipment of 10bales cotton piece goods from Tianjin to London. It is ? acceptable /? unacceptable.
(4) A bill shows: pay to ABC Co. out of proceeds of sale of woollen blankets the
sum of one thousand US dollars. It is ? acceptable / ?unacceptable.
(5) A bill shows: pay from our No. 2 account to ABC Co. the sum of one thousand
US dollars. It is ? acceptable /?unacceptable.
(6) A bill shows: pay to ABC Co. or order the sum of one thousand pounds and
debit our No. 2 account. It is ? acceptable / ?unacceptable.
(7) A bill shows :after customs clearance pay to the order of ABC Co. the sum of
twenty thousand US dollars. It is ? acceptable / ?unacceptable.
(8) A bill shows: pay to Mary the sum of fifty pounds and give her a suit of clothes.
It is ? acceptable /?unacceptable.
(9) A bill shows: pay to the order of ABC Co. the sum of one thousand pounds plus
interest. It is ? acceptable /?unacceptable.
⼆、(1) A bill is payable at XX days after sight, what date is the day from which time
of payment begins to run?
The date of acceptance
(2)A bill is payable at XX days after date, what date is the day from which time of
payment begins to run?
The date of issuing
(3) The maturity of one month after 31 Jan. is28 Feb
(4) The maturity of 180 days after 4 April is 1 Oct
(5) The maturity of 180 days from 6 Nov.1999 is 3 May. 2000
三、Fill in the following blank forms to draw a bill of exchange. The bill includes the requisite items as follows:
(1) date: 22 May,200X
amount: GBP21,787.00
tenor: at 90 days after sight
drawer: China National Animal By products Imp.& Exp. Corp, Beijing Branch, Beijing drawee: Bank of Atlantic, London
payee: the Order of China National Animal By product Imp.& Exp. Corp, Beijing Branch (2) date: 23 July,2000
amount: USD 35,461.50
tenor: on 31 Oct, 2000 fixed
darwer: George Anderson Inc, New York
drawee: Irving Trust Company, New York
payee: Brown and Thomas Inc. or order
drawn against shipment of cotton form Australia to St. Louis.
(2)
四、Please answer, fill the blank in or made choice of the following question.
(1) Prefer to the above bill, the holder i.e. Bank of Australia has the right transferring it to other person, or the right of presentment for acceptance and/or claim for payment to The Import Co. Melbourne. If the latter refuses to pay, the holder has the right of recourse against the Exporting Co. London
(2) The payee’s London Office wishes to transfer the bill to Bank of New Zealand, Auckland, please make a restrictive endorsement.
Pay to Bank of New Zealand, Auckland only
For Bank of Australia
signature
(3) Please make a blank endorsement.
For Bank of Australia
signature
(4) Having made an endorsement in blank, the holder send the bill to Bank of New Zealand, Auckland who wishes to convert this blank endorsement into a special endorsement to themselves. Please make this special endorsement.
Pay to the order of Bank of New Zealand, Auckland only
For Bank of Australia, London
Signature
(5) If the condition is “on delivery of B/L No. 125”, please make a conditional endorsement.
Pay to Bank of Australia or order on delivery of B/L No. 125
For Bank of Australia, London
Signature
(6) If payee’s London office wishes to send the bill to their Melbourne office for collection, please make an endorsement for collection.
Pay to the order of Bank of Australia Melbourne office only for collection
For Bank of Australia, London
Signature
(7) Refer to the above bill, a banker designated as payer is Bank of Melbourne, Melbourne. Date of acceptance is 10 April, 200X. Please make acceptance of such bill indicating its maturity.
Accepted
10 April, 200X
9 June, 200X
Payable at Bank of Melbourne, Melbourne
For the Importing Co.
Signature
五、Choose the best answer to each of the following questions
CCCBCBBA
Exercise 2
P1ease answer，fill the blank in or make choice of the
following questions．
1、There are four parties in a remittance，
i.e. (1) remitter (2) payee
(3) remitting bank and (4) paying bank
2、Remittance through a bank from one country to another may
usually be made by one of the following methods：
(1) Telegraphic Transfer (2) Mail Transfer (3) Banker’s Demand Draft
3、(1)Payment in advance which is adopted in international trade is
usually effected by remittance，and is advantageous to
(×exporter／□importer)．
(2)Payment after arrival of goods which is adopted in
international trade is usually effected by remittance too ，and is advantageous to (□exporter／×importer)．
(3)Payment after arrival of goods include two types of goods for
sale，namely
①Goods Sold②Consignment .
4、Financial documents mean bills of exchange，promissory notes，cheques．
Commercial documents mean invoices，transport
documents，documents of title or other similar documents．
5、C1ean collection means collection of financial documents not
accompanied by commercial documents
6、Documentary collection means collection of
(1)Financial documents accompanied by commercial documents，or (2)commercial documents not accompanied by financial documents .
7、How many parties are there in a collection ?
(1) Principal (or seller)(2) Remitting Bank
(3) Collecting bank (4) Drawee(or buyer)
8、Terms of delivery of documents are as follows：
(1)Delivery of documents against payment，its abbreviation
is D/P .
(2)Delivery of documents against acceptance，its abbreviation
is D/A .
9、(1)The remitting bank has maintained an account with the collecting bank，how do you write collecting proceeds instructions in the
collection instruction . When collected please credit our account with you under your cable/airmail advice to us (2)The Collecting bank has maintained an account with the
remitting bank，how do you write co11ecting proceeds
instructions in the collection instruction?
Please collect the proceeds and authorize us by cable/airmail debit your accountwith us
10、Remitting bank：Bank of China，Tianjin
Paying bank：Bank of China，Luxemburg
Date of cable：9 June
Test：2563
Ref No．208TT0219
Amount：USD l，660.00
Payee：Marie Clauda Dumont，Luxemburg
Account No．0—164／7295／550 with
Banque International du Luxemburg
Message：Payroll
Remitter：Crystal Palace Hotel，Tianjin
Cover：Debit our H.O. account
FM： BANK OF CHINA ,TIANJIN
TO：BANK OF CHINA ,LUXEMBURG
DATE： 9 JUNE
TEST 2563 OUR．REF 208TT0219
NOT ANY CHARGES FOR US
PAY USD 1660.00
TO BANQUE INTERNATIONAL DU LUXEMBURG
FOR CREDITING ACCOUT NO. 0-164/7295/550
OF MARIE CLAUDA DUMONT ,LUXEMBURG
MESSAGE PAYROLL
ORDER CRYSTAL PALACE HOTEL ,TIANJIN
COVER DEBIT OUR H.O. ACCOUNT
11、MT100 CUSTOMER TRANSFER DATE：031206
SENT TO：BKCHCNBJ200
BANK OF CHINA，TIANJIN
：FM：04HSBCHK25264
HONG KONG AND SHANGHAI BANKING CORPORATION，
HONGKONG
：20：TRN：TT-HKH315064BACP
：32A：VALUE DATE／CUR CODE／AMT
DATE：031206 CURRENCY CODE：CNY AMDUNT：6，859.58：50：ORDERING CUSTOMER：ARTHUR ANDERSEN AND CO.
：57s：“ACOOUNT WITH”BANK：
BANK OF CHINA，TIANJIN BR. TIANJIN，CHINA
：59：BENEFICIARY CUSTOMER
TIANJIN INTERNATIONAL TAXATION CONSULT1NG BUREAU ：70：DETAILS OF PAYMENT：PAYMENT TO RENT AND TAX FOR NOV．2003
：71A：DETAILS OF CHARGES：BENEFICIARY
：72：BANK TO BANK INFORMATION：
IN COVER SETTLE THRU OUR CNY A／C 111—01081
WITH
YOUR BEIJING HEAD OFFICE
In accordance with above SWIFT Message Type l00 please write a cable text of remittance.
DATE; 6TH DEC,2003
TO:BANK OF CHINA, TIANJIN BR TIANJIN CHINA
FM: HONGKONG AND SHANGHAI BANKING CORPORATION,HONGKONG
TION,HONGKONG
OUR.REF: TT-HKH315064BACP VALUE DATE 6 DEC 1998
CNY 6859.58
ORDERING ARTHUR ANDERSEN AND CO.ACCOUNT WITH BANK
BANK OF CHINA, TIANJIN BRANCH TIANJIN BENEFICIARY TIANJIN
INTERNATIONAL TAXATION CONSULTING, BUREAU DETAILS OF PAYMENT
PAYMENT OF RENT AND TAX FOR NOV.1998 DETAILS OF CHARGES
BENEFICIARY IN COVER SETELE THRU OUR CNY A/C 111-01081 WITH
YOU BEIJING HEAD OFFIC
12、Draft NO．20060613
Amount：HKD32，150.00
Place and date of draft：Tianjin，8 May，200X
Paying bank：Bank of China，HongKong
Payee：the order of United Trading Company，HongKong
Pay against this draft to the debit of our account
Remitting bank：Bank of China，Tianjin
Remitter：China-National Light Industrial Products Imp．＆Exp．Corp.，
Tianjin Branch，Tianjin
P1ease draw a demand draft to make remittance by D／D .
13、(1)China National Instruments Imp．＆Exp．Corp.，Tianjin Branch，Tianjin (principa1) wishes to issue a draft dated 14 Ju1y，200X drawn on Continental Co. , 46 Rue de Ancient，Paris (drawee) at sight for USDl，200.00 payable to the order of Bank of China，Tianjin (remitting bank) which will make a special endorsement to Banque of Paris ，Paris. marked “Drawn against shipment of 20 sets of transistors shipped per s．s．Chenghau from Tianjin to Le Harve for collection.”
P1ease draw a draft to meet the above requirements．
(2)The principa1 presents an application for collection accompanied by draft and documents to the remitting bank for collection．
An application for collection shows as follows：
Commercial documents surrendered are below：
B／L in triplicate
Invoice in triplicate
Insurance policy in duplicate
certificate of origin in duplicate
packing list induplicate
Co11ection instructions are given below：
deliver documents against payment
remit the proceeds by airmail
airmail advice of payment
collection charges outside China from drawee，waive if refused by him．
airmail advice of non-payment with reasons
protest waived
When collected，please credit proceeds to principal’s account with remitting bank．
Remitting bank complete a collection instruction in accordance with principal’s application to add other requirements as follows: Ref．No．OC2576459
Date：15 July，200X
Please co11ect and remit proceeds to Bank of China，New York for credit of our account with them under their advice to us．Please produce a collection instruction
attaching draft and documents to be forwarded to the co11ecting bank，Banque of Paris，Paris.
(COLLECTION INSTRUCTION)
Exercise 3
Please answer，fill the blank in or make choice of the fo1lowing questions．
1、Here is the simple definition of letter of credit:
In simple terms，a letter of credit is a conditional bank promise /undertakingof payment．2、There exists a triangular contractual arrangement under a documentary credit operation：
(1) Firstly，the sales contract between beneficiary and applicant．
(2) Secondly，the applicant between applicant and issuing bank.
(3) Thirdly，the documentary credit between issuing bank and beneficiary．
3、A credit stipulated that quantity of goods，grade A 60%，quantity of goods，grade B 40%．Beneficiary presented invoices being evidenced grade A 40%，grade B 60% which were in accordance with sales contract as he said that the credit has stipulated erroneously ．
(1) □The above invoice is acceptable.
(2) The above invoice is not acceptable．
4、How many parties are there in a documentary credit?
(1) the issuing bank
(2 ) the applicant if any
(3) the beneficiary
5、The advising bank’s liability is to check the apparent authenticity of the credit．
6、All credit must stipulated an expiry date for presentation for payment .
7、If the amount is preceded by “about”, “approximately”or “circa”, the credit will
allow the 10%tolerance.
8、In the absence of indicating the nature of a credit，it shall be deemed to be irrevocable
9、Under an irrevocable credit，the issuing bank must undertake primary liability for payment .
10、What is the essence of an irrevocable documentary credit?
The essence of an irrevocable documentary credit is that“an irrevocable credit can neither be amended nor cancelled without the agreement of the issuing bank，the confirming bank (if any)and the beneficiary”．
11、A credit should not be issued available by draft(s) on the applicant．If the credit nevertheless calls for draft on the applicant, banks will consider such draft(s) as an additional documents
12、An issuing bank’s undertaking clause is as follows：
We hereby undertake to pay at sight against draft and／or documents presented to our office in conformity with terms of credit．
Who undertakes the primary liability? Issuing bank
13、A bank confirms a credit，it will usually write a clause as follows：
We hereby add our confirmation to the credit and undertake to honour drafts and documents inconformity with the terms of the credit upon presentation them
to us
14、A credit is issued by Bank of China，Tianjin and confirmed by Bank of China，London．It constitutes the payment undertaking of
(1)⼝one bank only．
(2)?above two banks．
15、Put ╳in relative check box of the following sentences or fill the blanks to issue an irrevocable unconfirmed documentary credit which is to expire on or before 30 June，200X and is available with the advising bank，the Industrial and Commercial Bank of China , Shanghai by deferred payment at30 days after presentation of documents against the documents ．
(1) In Irrevocable Documentary Credit Form(Advice for the advising bank)
We request you to advice beneficiary：
①?without adding your confirmation．
②⼝adding your confirmation．
③⼝adding your confirmation if requested by the beneficiary ．
(2) In Notification of Irrevocable Documentary Credit Form
①?This notification and the enclosed advice are sent to you without any engagement on our part．
②⼝As requested by the issuing bank，we hereby add our confirmation to this credit in accordance with the stipulations under UCP500 ．
(3) In Irrevocable Documentary Credit Form(Advice for the beneficiary)
Expiry date and place for presentation of documents
expiry date：30 June，200X
place for presentation：Shanghai
credit available with the Industrial and
Commercial Bank of China
①⼝by payment at sight
②?by deferred payment at 30 days after presentation of documents
③⼝by acceptance of draft(s) at
④⼝by negotiation
against the documents detailed herein
⑤?and beneficiary's draft(s) drawn on
the Industrial and Commercial Bank of China
16、Put X in relative check box of the following sentences or fill the blanks to issue an irrevocable credit which is to expire on or before 30 June，200X and is available with the issuing bank，Dresdner Bank, Hamburg by acceptance of draft(s) at 90 days sight．
In Irrevocable Documentary Credit Form (Advice for the beneficiary)
Expiry date and place for presentation of documents
expiry date：30 June，200X
place for presentation：Hamburg
credit available with Hamburg
①⼝by payment at sight
②⼝by deferred payment at
③?by acceptance of draft(s) at 90 days sight．
④⼝by negotiation
against the documents detailed herein
⑤?and beneficiary’s draft(s) drawn on Dresdner Bank
17、An irrevocable negotiation (with the advising bank)documentary credit will expire on
29 May，200X．
at：①⼝(place of issuing bank)／②?(place of advising bank)／③⼝(place of other bank)
available with：name and place of／④⼝(issuing bark)／⑤?(advising bank)／⑥⼝(other bank)
by：⑦⼝(sight payment)／⑧⼝(deferred payment at)／⑨⼝(acceptance of draft at)／⑩?negotiation
against the documents detailed herein
and beneficiary's draft(s) drawn on name and place of／⼝(issuing bank)／⼝(advising bank)
18、A new transferable credit maybe opened at the request of the first beneficiary by the transferring bank in accordance with all terms and conditions of original credit except that
①the applicant may be changed by the first beneficiary
②the credit amount and unit price maybe reduced
③the shipment and expiry dates and latest date for presentation of documents maybe shortened
④the percentage of insurance cover maybe increase
⑤the original transferable credit allows the first beneficiary to substitute hisinvoice and draft for those presented by the second beneficiary
19、Who makes first presentation of documents to the nominated bank under a transferable credit?
①⼝The first beneficiary．
② The second beneficiary．
③⼝The middleman．
20、SWIFT MT 700and MT 701 are used for issue of a documentary credit．
SWIFT MT 707issued for amendment to a documentary credit．
21~30 BBCBC CCDAD
31、Please fill with the following terms into a SWIFT MT700 form to issue a documentary credit：
ADVISING BANK: BANKOF ASIA，
SHENZHEN BRANCH
NO．68 SHEN NNAN ROAD，
CENTRAL，SHENZHEN 518043，GUANGDONG DOCUMENARY CREDIT NUMBER E-0l-N-04939
ISSUING BANK: BANKOF ASIA，HK
BENEFICIARY：
SHENZHEN BUILDING MATERIALS
INDUSTRY (GROUP) CO STONE
DEPARTMENT l0／F BUILDING MATERIALS
BLDG，28 SHENNAN ZHONG RD．
SHENZHEN ，CHINA。