13信用证和银行保函PPT培训课件

Lesson 2 Letter of Guarantee
Definition Types
Lesson 2 Letter of Guarantee
Definition
Letter of Guarantee is a guaranty in written form issued by bank, insurance company, guarantee company or individual upon request of the applicant, promising to fulfill the payment or compensation to some extent in a certain amount of money in case that the applicant fails to fulfill the obligation.
Definition
“Any arrangement, however named or described, whereby a bank acting at the request and on the instructions of a customer or on its own behalf, is to make a payment to or to the order of a third party, or is to accept and pay bill of exchange drawn by the third party”.
--from the UCP 600
Lesson 1 Letter of Credit
Parties Involved › Opener, Applicant › Issuing / Opening Bank › Beneficiary › Advising / Notifying Bank › Negotiating Bank › Paying / Drawee Bank › Reimbursing Bank › Confirming Bank
Lesson 1 Letter of Credit
Types › Irrevocable L/C › Sight L/C › Usance L/C › Transferable L/C › Revolving L/C › Reciprocal L/C › Back to Back L/C › Standby L/C › Confirmed and Unconfirmed L/C › Soft Clause L/C
Open by Airmail Open by Cable SWIFT
Lesson 1 Letter of Credit
Contents › General Information of L/C › Information Required on the Draft › Description of the Goods › Shipment Clauses › Documents › Special Clause › Bank’s Promise of Payment › A Declaration to Subject to UCP600
13信用证和银 行保函
Lesson 1 Letter of Credit
Definition Parties Involved Procedures of L/C Payment Nature and Characteristics Contents Typacteristics
Opening bank undertaking the responsibility of the first payer
An independent instrument A kind of transaction of documents
Forms of Opening Letter of Credit
Lesson 1 Letter of Credit
Procedures of L/C Payment › Application for L/C › Issuance of L/C › Advice of L/C › L/C Verification and Modification › Presentation and Negotiation › Honor and Payment
Lesson 2 Letter of Guarantee
Types
Tender Guarantee
Performance Guarantee Repayment Guarantee
Tender Guarantee
A tender guarantee means bank, insurance company or other involving party (guarantor) makes promise to beneficiary (tenderee), sometimes according to the instruction of the authorized bank by the guarantee applicant, that guarantor shall fulfill payment with the stipulated sum in case that applicant (tender) fails to fulfill the obligation resulted from his tender.
Lesson 1 Letter of Credit
Nature and Characteristics › Nature › Characteristics › Forms of Opening Letter of Credit
Nature
Reverse Remittance Bank Credit