国际结算复习资料

I. True or false

1. Without bank’s participation, modern int’l trade payment system would not

exist any more T

2. The essence of both buyers and sellers concern is whether the counterpart

fulfills the contract T

3. Int’l settlement and trade payment is a theory rather than a practice F

4. Int’l settlement can only be used in visible trade F

II. What do the following abbreviations stand for?

1. ICC 国际商会The International Chamber of Commerce

2. FDI Foreign Direct Investment外商直接投资

3. FX Foreign Exchange外汇

4. FAS Free Alongside Ship 船边交货条件

5. FOB FREE ON BOARD 装运港船上交货条件

6. CIF COST, INSURANCE AND FREIGHT 成本加运保费交货条件

7. SWIFT The Society For Worldwide Inter-bank Financial

Telecommunications(环球银行间金融电讯协会)

8. CNY China Yuan 人民币

9. GBP Great Britain Sterling Pound 英镑

10. JPY Japanese yen 日元

11. HKD Hong Kong dollar 港币

12. AUD Australian Dollar,澳元

13. SGD 新加坡元Singapore dollar

14. NZD 新西兰元New Zealand dollar

15. CAD 加拿大元Canada Dollar

A. Term explanation

1. draft

a bill of exchange, esp. any bill before it has been accepted, or a bank bill, or a

sight bill, or an inland bill. Any written order to pay money

2. acceptance

act of accepting responsibility for paying the value of a bill)

3. guarantee

a 3rd party to a draft, the guarantor, who promises to pay the draft when

presented if it’s a sight draft or to accept when presented and to pay when it is due if it’s a time draft When it is dishonored by non-payment or non-acceptance, the guarantor becomes reliable for the draft

4. protest

a formal declaration in writing made by a notary public, witnessing & recording

the dishonor of a draft or promissory note

5. right of recourse

the right of the payee or holder of a draft that is dishonored at its maturity to demand payment from the other parties, such as the drawer or an endorser, unless these parties have written the words without recourse or sans recours against their signatures.

6. presentment

a sight draft has to be presented duly for payment;a time draft, has to do so duly for acceptance 1st and to be presented again for payment at maturity

7. payment

performed when a draft is paid

8. notice of dishonor

a written information given to the drawer & each endorser on the next business

day after the dishonor of the draft.

9. issue

1) to draw and sign a draft;

2) to deliver it to the payee, based on the Bills of Exchange

Act After the 2 steps, the draft is irrevocable under the drawer’s fir m promise for the drawee is to accept and pay for it.

10. endorsement

an act of negotiation. A payee or the holder of a draft should endorse it 1st if he transfers or passes its title to others; Still, the holder must do so on the back of it before he sells it to the buyer if he sells or discounts it.

11. guarantor

person who guarantees the acceptance and the payment of an instrument

12. dishonor

a failure or refusal to accept a time draft or pay a sight draft when it’s

presented.

B. Based on the draft given below, please fill in the blanks with relative numbers in brackets and some other terms: Exchange for GBP 1,250.00 (1) Beijing, 1 April, 200x

At 90 d/s after sight (2) pay to the order of DEF C0. (3)

the sum of Pounds one thousand two hundred and fifty only

To XYZ Bank

London (4) For ABC Co., Beijing (5)

(Signature) The draft is an unconditional order in writing addressed by (5__) to (_4_) signed by (_5_) giving it requiring (_4_) to whom it is addressed to pay (_2_) the sum of (_1_) to (_3_). The holder of the draft is (_3_) who must firstly present it to (_4_) for _acceptance__. At maturity, the holder must present it for _payment__ .