国际结算 第5章

银行处理的是单据而非货物 In credit business, banks deal with documents and not with goods, services or other performances to which the documents may relate.(article 5 of UCP600).
Complying presentation means a presentation that is in accordance with the terms and conditions of the credit, the applicable provisions of these rules and international standard banking practice.
In brief, a credit is a conditional undertaking of payment by a bank. Complying presentation is the definite undertaking condition of the issuing bank. Complying presentation means a presentation that is in accordance with the terms and conditions of the credit, the applicable provision of these rules and international standard banking practice.
Uniform Customs and Practice for Documentary Credit, ICC Publication No.600,简称UCP600 《跟单信用证统一 惯例》国际商会第600号出版物。
Definition
Credit means any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honor a complying presentation, as per The Uniform Customs and Practice for Documentary Credits, 2007 Revision, ICC Publication No. 600(UCP600).
Credit means any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honor a complying presentation. A credit is irrevocable even if there is no indication to that effect.
Article 4 Credits v. Contracts （UCP600） A credit by its nature is a separate transaction from the sale or other contract on which it may be based. Banks are in no way concerned with or bound by such contract, even if any reference whatsoever to it is included in the credit.
信用证是独立于贸易合同的文件 A credit stands independent of the sales contract. A credit by its nature is a separate transaction from the sales or other contract on which it may be based. Banks are in no way concerned with or bound by such contract, even if any reference whatever to it is included in the credit.
Article 5 Documents v. Goods, services or performance （UCP600）
Banks deal with documents and not with goods, services or performance to which the documents may relate.
Article 7 Issuing Bank Undertaking Article 8 Confirming Bank Undertaking （UCP600）
An issuing bank is irrevocably bound to honor as of the time it issues the credit. A confirming bank is irrevocably bound to honor or negotiate as of the time it adds its confirmation to the credit.
Negotiating Bank
Financing relationship
Negotiating Bank
Beneficiary
Indirect relationship
Confirming Bank
Beneficiary
Agency relationship
信用证案例
2004年美国一家银行开出了一份总额为50万美元 的不可撤销信用证，受益人为国内一家进出口公司。 付款条件是75%即期付款，25%货到后45天付款。 我公司交单后，单证相符，开证行付了75%的货 款（计37.5万美元），货到45天后，开证行以开 证申请人声称货物质量欠佳为由拒付其余25%的 货款。最后引发诉讼，美国银行败诉，支付了其余 货款以及延迟付款利息。
The relationship between the parties
Applicant (importer)
Sale contract
Beneficiary (exporter)
Issuing Bank
Application of L/C
Applicant (importer)
Issuing Bank
Honour
To pay at sight if the credit is available by sight payment To incur a deferred payment undertaking and pay at maturity if the credit is available by deferred payment To accept a bill of exchange (“draft”) drawn by the beneficiary and pay at maturity if the credit is available by acceptance.
Agency agreement
Advising Bank
Indirect relationship
Issuing Bank
Beneficiary (exporter)
Issuing Bank
Agency agreement
Confirming Bank
Issuing Bank
Indirect relationship
信用证的起源和发展
“Letter of Credit”一词最早在18世纪的西 方使用于Traveller’s Letter of Credit。 信用证起源于开证行给境外代理行的介绍信 （letter）要求其提供信用（credit）给客 户，然后再向开证行支款。
跟单信用证统一惯例
为了统一各国对跟单信用证的理解和运用，国 际商会在1930年首次出版了跟单信用证统 一惯例（UCP）。到目前为止共修订了7次。 UCP400是第五次修订。UCP500是1993 的版本。UCP600修订已经完成，并于 2007年7月1日生效。
信用证方式的业务程序

申请人 （进口商）
①
⑾ ②
船公司
⑤
受益人 （出口商）
⑩
④
⑥
⑦③开证行源自⑧⑨通知行/议付行
Three-party Contractual Arrangement
Sales contract
applicant
application issuing bank
beneficiary
L/C
第五章 信用证
概念 特点 业务程序 作用 当事人 内容及开立形式 种类 融资 风险管理（案例分析）
Letter of Credit： A credit is issued by the Issuing Bank and addressed to the Beneficiary in the form of a “letter”. Commercial Credit： A credit is issued by the Issuing Bank in settlement of a commercial transaction. Documentary Credit： A credit is issued by the Issuing Bank and it requires the presentation of stipulated documents.