International Settlements 国际结算

《国际结算》课程的性质 《国际结算》是国际金融学的一个分支,从微观角度探讨国际间货币运动的理论与实务问题,主要研究结算工具,结算方式和以银行为中心的资金划拨清算,其主要目的在于以最科学,最有效的方法来清算国与国之间以货币表现的债权债务关系.

《国际结算》课程的性质 《国际结算》商业银行国际结算业务紧密相关的,注重理论在实际业务中应用,具有很强的专业性和实务可操作性,也是一门适应我国银行业务与国际银行业务接轨需要, 与国际惯例紧密联系,具有很强国际性的专业课程.

《国际结算》课程的目的 通过《国际结算》的教学,要求学生能够掌握国际结算的基本理论,基本知识和基本技能;做到理论与实际相结合,能够运用理论知识为指导进行国际结算的实务操作的实用型、实践型、实干型人才。

《国际结算》课程所处的位置 先修课程为《货币银行学》、《货币金融学》、《国际金融学》；后续课程包括《外汇银行会计》,《国际融资实务》、《进出口单证实务》等

《国际结算》的教学重点 以课堂讲授为主 课程的重点有两个： 一是国际结算方式,即汇款,托收,信用证; 二是国际结算单据.通过案例教学,实训室软件模拟操作,习题练习等办法解决.

MOTO与中国移动签订价值4.31亿GSM扩容合同 http://mobile.people.com.cn 2008年08月07日 来源：人民网

国际社会向四川汶川地震灾区抗震救灾提供援助 　　2008年，一些国家宣布向四川汶川地震灾区抗震救灾提供援助。 　　沙特国王阿卜杜拉决定沙特向中方捐赠5000万美元现金和1000万美元物资，帮助中国抗震救灾。 　　波兰外交部已通过中国红十字会向灾区提供10万美元援助。 http://finance.baidu.com 2008年05月15日 来源：百度财经

巨人网络登陆美国纽交所 　　巨人网络在美国纽交所挂牌上市，交易代码为“GA”，发行价15.5美元，开盘价高达18.25美元，超过发行价17.7%。收盘价18.23美元，当日最高价20.46美元，最低价17.05美元。融资8.87亿美元。 http://tech.qq.com/zt/2007/juren/

About the course International settlements is a course of integrated theory（一体化理论） with practice. It puts emphasis on the application of theory into actual business operations.

Basic procedure of international settlements Funds Goods/commodities Shipping Co. Goods Exporter/ Seller Importer/ Buyer documents instruments Funds Exporter’s bank Importer’s bank

About the course International settlements is also a course of our country' s banking business linking up with the world ' s banking business , it lays stress on handling international business in English in accordance with international practice .

Our Purpose For the sake of helping students to learn international settlements and to have a good grasp of basic theory , elementary knowledge and fundamental technical ability of this course ,so we teach partly in English .

What will you learn in this course? 1. Three financial instruments: bill of exchange（汇票）, promissory note（本票）, check (cheque支票) 2. Three main international settlement methods remittance（汇款）, collection（托收）, letter of credit（信用证） 3. Other documents commercial invoice（发票）, transport documents（运输单据）, insurance documents（保险单） 4. International customs and practice for international settlements URC522（托收统一规则）, UCP600（跟单信用证惯例）

How to study this course? 提前预习与课后复习结合; 理论知识与实务操作结合； 考勤和平时作业考察与考试相结合.

Outline Chapter 1. Introduction to International Settlement Chapter 2. Instruments Chapter 3. Remittance Chapter 4. Collection Chapter 5. Letters of Credit Chapter 6. Documents Related to International Settlement and Examination Chapter 7. Other Methods of Settlement System Chapter 8. International Non-Trade Finances

Chapter 1. Introduction to International Settlement 国际结算概述 Chapter1. Introduction

In this chapter，you will learn： 1.1 Definition 1.2 Types of International Settlement 1.3 History and Development of International Settlement 1.4 Major Points Concerning International settlements 1.5 Bank relationships in international Settlements Chapter1. Introduction

The origin Most international settlements originate from transaction in the world trade. International political, economic and cultural exchange inevitably leads to credits and debts owed by one country to another. 是一个国家由于对外贸易和经济合作以及政治稳获交流活动而发生的以货币表现的款项收付或债权债务结算。 Chapter1. Introduction

Basic procedure of international settlements Funds Goods/commodities Shipping Co. Goods Exporter/ Seller Importer/ Buyer documents instruments Funds Exporter’s bank Importer’s bank Chapter1. Introduction

1.1 Definition International payments and settlements are financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle accounts，debts，claims，etc． financial intermediary convertible currency 所谓国际结算，是指为清偿国际间的债权债务关系而发生在不同国家之间的货币收付活动 Chapter1. Introduction

Principle for International settlements Each currency is cleared within the boundary of the issuing country. A Co.(exporter) USA B Co.(importer) Japan Chemical Bank USA Sumitomo Bank Japan Chapter1. Introduction

Currency: Convertible Currency (1) Convertible currency in export country. (2) Convertible currency in import country. (3) Convertible currency in third country, generally referred to US currency. Chapter1. Introduction

? ? ? Unconvertible Absolutely currency convertible Limited currency Chapter1. Introduction

Convertible Currency 可兑换货币也称自由外汇，是指一种货币只要不受限制可以自由兑换成其他货币，即为可兑换货币。作为可兑换货币必须具备以下三个条件： （1）它能自由兑换成其他货币； （2）它对国际性经常项目（即贸易与非贸易项目）的支付不受限制； （3）该货币国的管理当局不采用或不实行多种汇率制度或差别汇率制度。 Chapter1. Introduction

国际结算中货币的使用原则： 出口——“硬币”， 进口——“软币” 非贸易收款——“硬币”， 非贸易付款——软币； 引进外资——软币 也就是 收入——“硬币” 支出——“软币” Chapter1. Introduction

国 际 结 算 预先付款 方 交单前预付 式 付 款 时 间 装运时付款 交单时付款 装运后付款 交单后付款 Chapter1. Introduction

1.2 Types of International Settlement Most international payments originate from transactions in the world Trade. They are money transfers as a result of international clearing, such as: ⑴ International trade settlement国际贸易结算 ⑵ International non-trade settlement国际非贸易结算 Chapter1. Introduction

Ⅱ.Capital and Financial Account Ⅲ.International Reserve Ⅰ.Current Account 1. Goods & Service a. Goods b. Serviced 2. Income 3. Current Transfer/Unilateral Current Transfer Ⅱ.Capital and Financial Account 1. Capital Account 2.Financial Account (1) Direct Investment (2) Indirect Investment (3) Portfolio Investment (4) Other Investment Ⅲ.International Reserve Ⅳ .Net Error & Omission 经常账户：160,818,311；货物与服务：124,797.704;货物:134,189.095;服务:-9,391,392; 资本与金融账户:62.963,916;资本:4,101,792;金融账户:58,862,124 储备资产:-207,016(2005年中国国际收支数据,单位:千美元)

(1) International trade settlement国际贸易结算 With the expansion of global trade amongst countries, the role of banks, in international trade finance is becoming more and more important. Most transactions must be settled through banks. Without the bank’s participation，international trade would not have been developed to the stage we have reached today. Chapter1. Introduction

International Trade 1.Major participants : 2.Sale contract: buyer seller banks 2.Sale contract: quality clause quantity clause package clause price clause delivery terms insurance clause payment clause Commodity inspection clause 3. Trade terms:Incoterms 2010, 13 terms Chapter1. Introduction

Sale contract Seller: address, telex/fax; Buyer:address, telex/fax Goods Quality clause:the goods description, quality,specifications Quantity clause:weight, numbers, length, dimension, volume, capacity Packing clause:mode of packing, and its material Price clause:unit price, pricing currency , price terms used Deliver terms:time of delivery, port of loading and destination, transshipment, partial shipment ,mode of transportation Insurance clause:risks to be covered, the percentage of insurance Payment clause:payment method and its content Commodity inspection clause:how the right of inspection is determined,k the time, place and organization of inspection Claim clause , arbitration clause & force majeure clauses

EXW EX WORKS(…named place)工厂交货条件 FCA FREE CARRIER(… named place)交至承运人条件 FAS FREE ALONGSIDE SHIP (… named port of shipment)船边交货条件 FOB FREE ON BOARD (… named port of shipment)装运港船上交货条件 CFR COST AND FREIGHT (… named port of destination)成本加运费条件 CIF COST, INSURANCE AND FREIGHT (… named port of shipment)成本加运保费交货条件 CPT CARRIAGE PAID TO (… named port of shipment)运费付至——交货 CIP CARRIAGE AND INSURANCE PAID TO (… named port of shipment) 运保费付至——交货条件 DAT Delivered At Terminal (… named place)目的港交货条件 DAP (new delivery term) Delivered At Place 特定地点交货条件 DDP DELIVERED DUTY PAID (… named port of shipment)完税交货条件

(2) International non-trade settlement国际非贸易结算 There are many ways by which funds can be transferred from one country to another under trade service. When the tourists, merchants, delegations or other people go abroad, they need money to spend, to buy something, or to pay for various expenses and charges there. The most common means for them to carry funds are cash , traveler’s check, traveler’s letter of credit and credit card. These are within the scope of non-trade settlement. Chapter1. Introduction

How many international transactions can you list? visible trade有形贸易 invisible trade无形贸易 financial transaction金融交易 overseas remittances 海外汇款 educational expenses教育开支 inheritances遗产继承 Chapter1. Introduction

How many international transactions can you list? technology transfer技术转让 patent 专利 copyright contract版权合同 foreign exchange market transactions金融市场交易 export credits出口信贷 syndicated loans辛迪加贷款 international bond 国际债券 Chapter1. Introduction

1.3 History and Development of International Settlement (1) From cash settlement to non-cash settlement从现金结算到非现金结算 (2) From direct payment made between international traders to payment effected through a financial intermediary从贸易商之间直接支付到通过金融中介进行支付 (3) From payments under simple price terms to payments under more complex price terms从使用简单贸易术语结算到复杂贸易术语的结算 (4) Internet era互联网的结算 Chapter1. Introduction

（1）From cash settlement to non-cash settlement Instruments Bill of exchange Promissory Note Cheque/check Non-Cash Settlement非现金结算 13 century A.D. Exchange for GBP1,250.00 Beijing,1 April,2003 At sight pay to the order of DEF Co.the sum of Pounds one thousand two hundred and fifty only To XYZ Bank, For ABC Co., Beijing London (signature) Expensive Risky Turnover of funds slow End of 18 century Foreign exchange bank

Non-cash settlement非现金结算 From the thirteenth century A.D., bills of exchange were created, gradually taking the place of coins in international payments, and the bill of exchange market began to develop. Chapter1. Introduction

13 century A.D. end of 18 century A.D. Bill of exchange Foreign exchange bank Foreign exchange market Chapter1. Introduction

（2）From direct payment made between international traders to payment effected through a financial intermediary With the worldwide banking network and modern banking technicality, banks can not only provide easy and quick transfer of funds needed for conducting international trade but also furnish their customers with valuable economic and credit information. Chapter1. Introduction

（3）From simple price terms to more complex price terms In the past, international trade payments were settled on very simple price terms, such as cash on delivery, cash on shipment, cash with order, cash before shipment, etc. In modern international trade, a more comprehensive and exact set of terms has been developed. As indicated in INCORTERMS2010(International Rules for the Interpretation of Trade Terms)ICC Publication, the price terms available for use are multifarious and more complicated than before. 多种的,各式各样的 Chapter1. Introduction

（4）Internet era With the development of computer technology, business is done and payments and settlements are effected by means of all kinds of payment systems, which makes it quicker and safer and more convenient for both the Buyer and Seller. Nowadays, Internet is developing very fast. This new type of business transaction is called net banking. Although there are a lot of problems to be solved，net banking is very promising. Chapter1. Introduction

communication meshwork/network 环球银行间金融电讯协会 纽约清算所交换银行相互收付系统 ＳＷＩＦＴ ＣＨＩPＳ ＣＨＡＰＳ ＦＥＤＷＩRＥ 伦敦交换银行 自动收付系统 联邦储备 清算系统 Chapter1. Introduction

SWIFT:The Society For Worldwide Inter-bank Financial Telecommunications(环球银行间金融电讯协会) 中国是SWIFT会员国。中国银行作为中国的外汇外贸专业银行于1983年2月加入SWIFT，成为中国第一家会员银行，1985年5月13日，中国银行正式开通SWIFT。

20世纪90年代开始，中国所有可以办理国际金融业务的国有商业银行、外资和侨资银行以及地方银行纷纷加入SWIFT。 1996年中国SWIFT发报增长率为42.2%，在SWIFT全球增长率排名第一，中国银行在SWIFT前40家大用户中排名34位。 中国银行每日SWIFT发报量达3万多笔，采用SWIFT方式进行收发电报已占到全行电讯总收付量的90%。 SWIFT网络是国际结算、收付清算、外汇资金买卖、国际汇兑等各种业务系统的通讯主渠道，部分业务实现了自动化处理。 chaining(SWIFT study): http://blog.csdn.net/zjueman/archive/2006/06/28/847335.aspx

Characteristics 1.SWIFT needs member qualification. 2.SWIFT’s charge is low. It’s about 18% of that used by telex, and 2.5% of that used by cable. 3.SWIFT is safer. (SWIFT authenticate key) 4.SWIFT has standard uniform format. Chapter1. Introduction

加入SWIFT的中国境内银行 Bank Identified code Bank of China BKCH CN BJ The Industrial and Commercial ICBK CN BJ The Agricultural Bank of China ABOC CN BJ The Investment Bank of China IBOC ON BJ The Communication Bank of China COMM CN BJ China Construction Bank PCBC CN BJ The People’s Bank of China PBOC CN BJ China Citic Bank CIBK CN BJ America Bank , Shanghai Branch BOFX CN SX HongKong and Shanghai Banking Corporation, Ltd. HSBC CN SX

CHIPS:Clearing House Interbank Payments System.（跨国美元支付系统） 1970年4月成立,国际美元支付系统。它是一个著名的私营跨国大额美元支付系统，是跨国美元交易的主要结算渠道。 通过CHIPS处理的美元交易额约占全球美元总交易额的95%。 CHIPS成员有纽约清算所协会会员、纽约市商业银行、外国银行在纽约的分支机构等。 CHIPS是一个净额支付清算系统，它租用了高速传输线路，有一个主处理中心和一个备份处理中心。每日营业终止后，进行收付差额清算，每日下午六时（纽约时间）完成资金转账。

CHAPS: Clearing House Automated Payment System Chapter1. Introduction

FEDWIRE: Federal Reserves Wire Transfer System（全美境内美元支付系统） 由于该系统有专用的实现资金转移的电码通讯网络，权威性、安全性较高。此外它还承担着美联储货币政策操作及政府债券买卖的重要任务。 它每日运行18个小时，每笔大额的资金转账从发起、处理到完成，运行全部自动化。

1.4 Major Points Concerning International settlements (1) International settlements methods (2) The financial instrument that facilitate International settlements (3) Documents used in International settlements (4) The currencies used in international settlements. (5) Rules and regulations on international make sure they are different URC522:Uniform Rules for Collection Chapter1. Introduction UCP500:Uniform Customs and Practice for documentary credit

国际结算的基本要素 1、银行合作是办理国际结算业务的关键所在。（结算路径） 2、现代化的支付和通讯系统保证了资金顺畅、快速地跨国流动。（结算路径） 3、票据是国际结算中主要支付工具。（结算工具） 4、单据是实现物权转移与债务清偿的重要依据。（结算工具） 5、国际结算方式是最终实现货币跨国收付的手段。（结算方式） Chapter1. Introduction

1.5 Bank relationships in international Settlements (1)Sister’s Bank/overseas branch海外分行 (2)Representative Bank (Correspondent)代理行 (3)Accounting Bank账户行 Chapter1. Introduction

The Worldwide Network of Banks 1、 Representative Office(代表处) 2、 Agency Office(代理处) 3、 Overseas Sister Bank/Branch, Sub branch(海外分、支行(境外联行)) 4、 Correspondent Banks(代理银行) 5、 Subsidiary Banks(附属银行(子银行)) 6、 Affiliated Banks(联营银行) 7、 Consortium Bank(银团银行) Chapter1. Introduction

Bank of China Overseas branch                                                                                                                                                                                                         

(2)Representative Bank (Correspondent)代理行 International banking is effected through the cooperation of commercial banks all over the world. This cooperation comes from the establishment of correspondent relationships between banks. The so-called correspondent bank may be defined as “a bank having direct connection or friendly service relations with another bank”. Chapter1. Introduction

The bank may open deposit accounts with, and entrust business to each other on a reciprocal basis. 互惠的,相应的 信赖,信托,交托 Chapter1. Introduction

When selecting a bank as a correspondent bank, what factors should be taken into account? ⑴The reputation of the bank; ⑵ Size of the bank; ⑶ Location of the bank; ⑷ Services offered by the bank; ⑸ Fundamental policies and strength of the bank; ⑹ Physical features and personnel; ⑺ Momentum of early start, etc. Chapter1. Introduction

Agency arrangement Control documents Establish a correspondent relationship between two banks. Agency arrangement Control documents What do control documents include? Chapter1. Introduction

Control Documents Lists of specimen of authorized signatures印鉴 Verify the messages, letters(airmailed) are authentic Telegraphic test keys密押 Verify the telex and cable are authentic Terms and conditions费率表 SWIFT authentic key验证码 是银行列示的所有有权签字的人的有权签字额度、签字范围、有效签字组合方式以及亲笔签字字样。代理行可凭其核对对方银行发来的电报、电传等的真实性。 是两家代理行之间事先约定的专用押码，在发送电报时，由发送电报的银行在电文前面加注，经接受电报的银行核对相符，用以确认电报的真实性。 Chapter1. Introduction

Bank of China 服务项目 收费标准 现钞托收 进口托收 跟单托收 汇出境外汇款   　电汇 汇款金额的 1‰，最低50元/笔，最高1000元/笔，另加收电讯费 　票汇、信汇 汇款金额的 1‰，最低100元/笔，最高1200元/笔，另加收邮费（如有） 外币光票托收 　光票托收 托收金额的 1‰，最低50元/笔，最高1000元/笔，另加收邮费 买入外币票据 　买入票据 票据金额的 7.5‰，最低50元/笔 现钞托收 100元/笔，另加收邮费 进口托收 进口代收金额的 1‰，最低100元/笔，最高2000元/笔 跟单托收 代收金额的 1‰，最低100元/笔，最高2000元/笔，另加收邮费

(3)Inter-bank account A current account or a checking account may be opened between banks with the establishment of a correspondent banking relationship. Any bank before opening an account in its correspondent bank, must be aware of the detailed conditions of this connection, such as amount of initial deposit, minimum credit balance for covering the cost of services provided, interest rate of the account, overdraft permission, and how often the statement of account is sent. Chapter1. Introduction

账户行 存款客户 Current a/c XXX Current a/c XXX 开户行 账户行 Depository Depositor Bank Depositor Current a/c XXX Depositor Bank Depository Bank 开户行 账户行 Chapter1. Introduction

①Nostro account往账 The Italian word “Nostro” means “our”. Nostro account is the foreign currency account(due from account)of a major bank with the foreign banks abroad to facilitate international payments and settlements.我行在它行开立的存款账户 ②Vostro account来账 The Italian word “Vostro” means “your”. The Italian word “Vostro” means “your”. Vostro account is an account(due to account)held by a bank on behalf of a correspondent bank．它行在我行开立的存款账户 Chapter1. Introduction

往账 Nostro account: is the foreign currency account (due from account) of a major bank with the foreign banks abroad to facilitate international settlements. From the point of Bank of China, a nostro account is our bank’s account in the books of an overseas bank, denominated in foreign currency. Bank of New York Bank of China USD Account Chapter1. Introduction

A/C XXX is A Bank’s __________________a/c Current a/c XXX A Bank B Bank B Bank’s currency Nostro A/C XXX is A Bank’s __________________a/c Chapter1. Introduction

Banking Corporation,Ltd., 来账 Vostro account: is the domestic currency account (due to account) held by a bank on behalf of a correspondent bank. From the point of view of Bank of China, a vostro account is an overseas bank’s account with us, denominated in RMB. Hongkong and Shanghai Banking Corporation,Ltd., Hong Kong Bank of China RMB Account Chapter1. Introduction

Exercise: Current a/c XXX A Bank’s currency B Bank A Bank’s currency A/C XXX is A Bank’s __________________a/c, Vostro Chapter1. Introduction

Chapter 2. Instruments 信用工具 Chapter2. Instruments

In this chapter，you will learn： 2.1 credit instrument 2.1.1Definition of credit instrument 2.1.2The functions of a negotiable instrument 2.1.3The characteristics of each instrument 2.1.4Instruments law system 2.2 The three important negotiable instruments： Bill of exchange，promissory note and cheque, The essentials of each instrument Chapter2. Instruments

2.1 credit instrument 2.1.1 Definition of credit instrument A credit instrument is a written or printed paper by means of which funds are transferred from one person to another. Credit instruments most commonly used in international payments and settlements are bills of exchange, promissory notes and checks. They are also known, negotiable instruments. Credit instruments may also take such forms as traveler’s cheque, certificates of deposit，treasury bills, treasury bonds, etc. Chapter2. Instruments

Instruments characteristic: 1)Negotiability 2)Non-causative Nature 3)Requisite in Form 4)Presentment 5)Return-ability 流通性 无因性 要式性 提示性 返还性 Chapter2. Instruments

Negotiable instrument in broad sense Two words relative to transfer a negotiable instrument A negotiable instrument is a chose in action, the full and legal title to which is transferable by delivery of the instrument (possibly with the transferor’s endorsement) with the result that complete ownership of the instrument and all the property it represents passes freely from equities to the transferee, providing the latter takes the instrument in good faith and for value. Negotiable instrument in broad sense Chapter2. Instruments

流通票据是一种法定的财产，这种财产的全部或法定的权益可以通过交付进行转让（可以凭转让方的背书），其转让的结果是只要受让人是正当取得或者支付对价而取得该财产，该票据的全部所有权及其所代表的财产权益将转移给受让人。 Chapter2. Instruments

conprehensive 广义的票据 泛指一切有价证券和各种凭证 以支付金钱为目的的 可以转让流通的特种证券 狭义的票据 狭义票据是国际结算的重要工具: Bill of Exchange(汇票)、Promissory Note(本票)和Cheque(支票)。 Chapter2. Instruments

Instruments characteristic: 1) Negotiability流通性 A negotiable bill may be payable to the order of a specified person. A negotiable bill may be payable to bearer. A bill on which the only or last endorsement is an endorsement in blank may be negotiable. A bill payable to a specified person does not contain words prohibiting transfer or indicating an intention that it should not be transferable , it may also be negotiable. Chapter2. Instruments

Kinds of negotiable instrument in broad sense •Bill of exchange 汇票 • Check/cheque支票 • Promissory Note本票 • Dividend warrant 股利单 • Bearer bond 不记名债券(流通债券) • Bearer scrips 持有人凭证 • Debenture payable to bearer 不记名信用债券 • Share warrant payable to bearer 不记名股份证书 • Treasury bill 国库券 • Certificate of deposit 存单 Chapter2. Instruments

Instruments characteristic: 2)Non-Causative Nature无因性 The reason(s) of issue or endorse need not to write on the face of the bill. 3) Requisite in Form要式性 The bill must contains the prerequisite items required by the law. Chapter2. Instruments

Instruments characteristic: 4）presentment提示性 Present for payment Present for acceptance 5）Return ability返还性 Return them back to issuer Chapter2. Instruments

Functions of Instruments 1) As a means of payment 2) As a credit instrument 3) As a transferable instrument Chapter2. Instruments

Instruments law system 1)British and USA legal system:the British Commonwealth of Nations and USA. ＊ British Legal System “Bill of Exchange Act”,1882, drafted by Chambers; Article 1~72: Bill of Exchange Article 73 ~82: Cheque Article 83 ~89: Promissory Note Article 90 ~97: Cheque (1957 Revision) ＊ USA legal system “Uniform Negotiable Instrument Law,drafted by Crawford; “Uniform Commercial Code”: Chapter 3:Commercial Paper Chapter2. Instruments

Instruments law system 2)Continental legal system: the main countries in the European Continent. ＊“Uniform Law for Bills of Exchange and Promissory Notes”, signed at Geneva, 1930 ＊“Uniform Law for Cheques”, signed at Geneva, 1931 Chapter2. Instruments

2.2 The three important negotiable instruments： (1) Bill of exchange汇票 (2) Promissory note 本票 (3) Cheque 支票 Chapter2. Instruments

Review——回顾 一、Definition of credit instrument票据的概念? conprehensive 广义的票据 泛指一切有价证券和各种凭证 以支付金钱为目的的 可以转让流通的特种证券 狭义的票据 狭义票据是国际结算的重要工具: Bill of Exchange(汇票)、Promissory Note(本票)和Cheque(支票)。 Chapter2. Instruments

2)Non-causative Nature 3)Requisite in Form 4)Presentment 二、票据的特性: 1)Negotiability 2)Non-causative Nature 3)Requisite in Form 4)Presentment 5)Return-ability 流通性 无因性 要式性 提示性 返还性 Chapter2. Instruments

Chapter2. Instruments

Maker and payer are the same person Promissory Note For USD99,999.00 New York, April 1, 2001 On the 20th June 2001 fixed by the promissory note we promise to pay BA the sum Of ninety-nine thousand nine hundred and ninety-nine US Dollars only For and on behalf of DC (signed) we promise to pay Maker and payer are the same person Chapter2. Instruments

支票存根 Chapter2. Instruments

第二节 汇票 一、Bill of Exchange /Draft/Exchange汇票的定义 第二节 汇票 一、Bill of Exchange /Draft/Exchange汇票的定义 二、Essentials of a bill of exchange汇票的要式项目 三、Acts of a bill of exchange汇票的票据行为 四、Types of bill of exchange汇票种类 Chapter2. Instruments

Chapter2. Instruments

一、汇票Bill of Exchange /Draft/Exchange As in the Bills of Exchange Act 1882 A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person , or to the bearer. 汇票是由出票人向另一人签发的，要求即期、定期或在可以确定的将来的时间，向某人或其指定人或来人无条件地支付一定金额的书面命令。 Chapter2. Instruments

Three basic parties drawer出票人 drawee Payee 收款人 payer 付款人 issue Present for acceptance drawee Payee 收款人 Present for payment payer 付款人 Chapter2. Instruments

How to understand the definition of a bill of exchange? ⑴Nature: unconditional order in writing ⑵ Basic three parties ⑶ Tenor ⑷ Amount drawer drawee payee on demand/at sight fixed future time determinable future time amount in figures amount in words Chapter2. Instruments

二、 Essentials of a bill of exchange汇票的基本项目(必要项目) ①The word “Exchange”汇票字样 ②An unconditional order in writing无条件支付命令 ③ Amount 金额 ④Tenor 付款期限 ⑤ Date and place of Issue出票时间地点 ⑥Name and address of the drawee 付款人名称地址 ⑦Name or business entity of the payee 收款人名称 ⑧Drawer’s signature(s)出票人签名 Chapter2. Instruments

specimen ①汇票字样 ③ 金额 ⑦收款人 Chapter2. Instruments ②无条件支付命令 ⑤ 出票时间地点 ③ 金额 ④Tenor 付款期限 ⑦收款人 名称地址 ⑧出票人及签名 ⑥付款人名称地址 Chapter2. Instruments

② An unconditional order in writing *Unconditional:Condition terms cannot be accepted. *Order: It must be expressed in command . *In writing: You can draw and read a bill of draft. Chapter2. Instruments

*Order:Correct writing 须用祈使句型： At___________ sight pay to AAA Co. or order the sum of five thousand US dollars only。 而不应使用带有“I should be please if you would kindly pay…”等虚拟文句。 Chapter2. Instruments

*Unconditional:Condition terms cannot be accepted. 不允许出现任何限制支付的文句或附带条件。 如“Pay to B Company one thousand US dollars after it makes a blank endorsement on the back of the draft” 即不符合汇票的这一要式规定 Chapter2. Instruments

*Unconditional:Condition terms cannot be accepted. 若支付命令指示从某特定账户中支付款项，如“Pay B company the sum of one thousand US dollars from your N0.3 account”， 表明汇票款项的支付取决于该账户中是否有足够的款额，所以该项命令违背了“无条件支付”要式规定。 Chapter2. Instruments

*Unconditional:Condition terms cannot be accepted. 汇票中加列表明汇票开立原因的出票条款，如在国际贸易结算中，出票人常在汇票中加列诸如“Drawn under documentary credit N0.1357 of C Bank”之类出票条款， 仍符合无条件支付命令的要式规定。此类汇票仍具有法律效力。 Chapter2. Instruments

Make choice of whether the following bills are acceptable or not. Mark “X” before acceptable or unacceptable you choose. Explain the reason how do you make the choice? (1) A bill shows : Pay to ABC Co. providing the goods in compliance with contract No. 123 the sum of one thousand US dollars. It is □acceptable/□unacceptable X Chapter2. Instruments

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: Pay from our No. 2 account to ABC Co. the sum of one thousand US dollars. X X Chapter2. Instruments

It is □acceptable/□unacceptable. (4) A bill shows: Pay to ABC Co. the sum of one thousand US dollars and charge\debit same to applicant’s account maintained with you. It is □acceptable/□unacceptable. (5) A bill shows: Pay to ABC Co. the sum of one thousand US dollars drawn under L/C No. 13234 issued by XYZ Bank New York dated on 15 August 200X. X X Chapter2. Instruments

④ Tenor 付款期限

“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 。” 到期日计算口诀 “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 。” Chapter2. Instruments

a．“At ____ days after sight/date” At 60 days sight, acceptance date is 15, May. 16, May 　　　31, May，16 days； 1, June 　　　 30, June，30 days； 　　　　 60－46＝14 the maturity date is 14, July. Chapter2. Instruments

b.“after _____month(s)”  ①At one month after 15 December one month 15 December 15th,January ② At one month after 31 January one month 31,January 28,February Chapter2. Instruments

⑦Name or business entity of the payee 收款人名称 1.Restrictive Order: this bill can not be transferred to any other person.限制性抬头 Pay to xxx only/not transferable 2.Demonstrative Order: this bill can be transferred to an other person by endorsement.指示性抬头 Pay to the order of xxx/ pay to xxx or order 3.Payable to Bearer: this bill can be transferred to an other person by delivery.来人抬头 Pay to bearer/pay to xxx or bearer Chapter2. Instruments

Additional Form see p33-35 Pay this first bill of exchange (second being unpaid)付一不付二 Referee in Case of Need需要时的受托处理人 Place of Payment 付款地点 Interest and interest rate 利息与利率 Currency 用其他货币付款 Notice of Dishonor Excused 免作退票通知或放弃拒绝证书 Without Recourse 无追索权 Limit of Time for Presentation 提示期限 Chapter2. Instruments

三、Acts of a bill of exchange汇票的票据行为 p21-32 Act1 Issuance出票 Act2 Endorsement背书 Act3 Presentation提示 Act4 Acceptance承兑 Act5 Payment: The act of paying /money paid付款 Act6 Dishonor拒付 Act7 Protest拒绝证书 Act8 Notice of Dishonor退票通知 Act9 Right of recourse追索权 Act10 Acceptance for Honor参加承兑 Act11 Guarantee/Aval保证 Act12 Discounting 贴现 Chapter2. Instruments

The general procedure of a bill of exchange

Act1 Issuance出票 drawer出票人 drawee Payee 收款人 payer 付款人 step 1: draw issue step2: deliver Present for acceptance drawee Payee 收款人 Present for payment payer 付款人 Chapter2. Instruments

Act1 Issuance: act of giving out bill of exchange出票（p21） Please issue a bill of exchange in accordance with the following conditions and terms, Sum: USD 47,259.00 Place of issue: Shanghai. Date of issue: 20 April, 200- Tenor: at 30 days after sight Drawer: BETERFORD DEVELOPMENT CO., LTD......Rd.,Shanghai China. Drawee: BANK OF SAIPAN,.....Rd.,Tokyo,Japan Payee: HUADONG EXPORT AND IMPORT CO., LTD....Rd,Shanghai China and make correct operation and actions Chapter2. Instruments

Exchange for_________ ________,________ DRAFT No. 30167577 Exchange for_________ ________,________ At________after sight of this FIRST of Exchange (Second of Exchange is unpaid) Pay to __________________________________ ________________________________________ The sum of ______________________________ To _______________ For __________________ （signature）　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 USD 47,259.00 Shanghai 20 April, 200- 30 days the order of HUADONG EXPORT AND IMPORT CO., LTD....Rd,Shanghai China US Dollars Forty Seven Thousand Two Hundred Fifty Nine Only BETERFORD DEVELOPMENT CO., LTD.......Rd.,Shanghai China. BANK OF SAIPAN, .....Rd.,Tokyo,Japan

Act2 Endorsement: sign one’s name on the back of the bill, check and so on背书 Endorser has to sign on the back of the bill Made for the whole amount of the draft 背书指在票据背面或粘单上记载相关事项并签章的票据行为。 Chapter2. Instruments

Differences of 5 kinds of endorsement

If the payee of the Draft wants to negotiate the bill to BANK OF HONGKONG, please make a restrictive endorsement for it. Chapter2. Instruments

Pay to BANK OF HONGKONG Only For HUADONG EXPORT AND IMPORT CO., LTD (signature) Chapter2. Instruments

Act3 Presentment 提示 Sight bill Present for payment in legal time limit 提示是持票人对付款人现实地出示汇票，要求其承兑或者付款的法律行为。分为提示承兑、提示付款 Sight bill Present for payment in legal time limit Usance bill Present for acceptance in legal time limit Present for payment at maturity

Act4 Acceptance承兑 Acceptor engages, by signing his name across the face of the bill that he will pay when it falls due. So presentment for acceptance is legally necessary to fix the maturity date of a draft payable after sight. 承兑是指经持票人提示，付款人同意按出票人指示支付票额的行为。 Chapter2. Instruments

(1)一般承兑(General Acceptance)。 毫无保留地同意，不附加任何条件 承兑的类型： (1)一般承兑(General Acceptance)。 毫无保留地同意，不附加任何条件 (2)限制性承兑(Qualified Acceptance)。 对该汇票另加条款而对该票之效力有所影响 Chapter2. Instruments

Valid acceptance requires 一般承兑 Accepted Dated For A Co., Place （Signature） Chapter2. Instruments

Qualified Acceptance Conditional acceptance有条件承兑 Partial acceptance 部分承兑 Qualified Acceptance Local acceptance 限定地点承兑 Qualified acceptance as to time限定时间承兑 Chapter2. Instruments

Conditional acceptance有条件承兑 Accepted 1st June,200* Payable on delivery of B/L For A Co., London （Signature） Chapter2. Instruments

Partial acceptance部分承兑 Accepted 1st June,200* Payable for amount of GBP800.00 only For A Co., London （Signature） Chapter2. Instruments

Local acceptance限定地点承兑 Accepted 1st June,200* Payable at the Hambros Bank and there only For A Co., London （Signature） Chapter2. Instruments

Qualified acceptance as to time限定时间承兑 Accepted 1st June,200* Payable at 6 months after date For A Co., London （Signature） Chapter2. Instruments

If the Drawee agree to accept the bill when he was presented on５ JUNE,200-, please make an acceptance for him. Chapter2. Instruments

Accepted ５ JUNE,200- For BANK OF SAIPAN,Tokyo (signature) Chapter2. Instruments

Act5 Payment: The act of paying /money paid付款 汇票到期时，持票人向付款人或承兑人提示付款，经其正当付款后，汇票即被解除责任 Chapter2. Instruments

Act6 Dishonor拒付 Act of dishonor is a failure or refusal to make acceptance on or payment of a draft when presented. a usance draft to present for acceptance Dishonor for acceptance Dishonor for payment A sight draft: legal limit A usance draft: on due date Chapter2. Instruments

Act7 Protest拒绝证书 Notary Public Drawee Authorized person 2.Dishonor 是由拒付地点的法定公证人作出证明拒付事实的文件。 1.presented for acceptance presented for payment Notary Public Authorized person Drawee 2.Dishonor 3.Sealed written statement——Protest Holder Chapter2. Instruments

Act8 Notice of dishonor退票通知 汇票一旦遭到拒付或拒绝承兑，持票人应及早通知汇票债务人。但这一行为并不具备法律效力

Act9 Right of recourse追索权 追索是指持票人在票据被拒付时向其前手请求偿还票据金额及其他法定款项的行为。 法律上称追索权 Chapter2. Instruments

Act9 Right of recourse追索权 行使追索权的三个条件： 条件1：须在规定的合理时间内向付款人提示汇票，未经提示，持票人不能对其前手追索 条件2：持票人须在退票后的次日，将退票事实通知其前手，后者再通知其前手，直到出票人 条件3：须在退票后的一个营业日内，持票人须请公证人做成拒绝证书 Chapter2. Instruments

Act10 Acceptance for Honor参加承兑 是指汇票遭到拒绝承兑而退票时，非汇票债务人在得到持票人同意的情况下，参加承兑已遭拒绝承兑的汇票的一种附属票据行为。其目的是为维护汇票上的某一当事人或关系人的信誉，防止追索权的行使施及该人。 Chapter2. Instruments

ACCEPTED FOR HONOR OF B COMPANY JULY 26, 2006 FOR K COMPANY, London (SIGNED) Chapter2. Instruments

Act11 Guarantee/Aval保证 Act of guarantee is performed by a third party called guarantor, who engages that the bill will be paid on presentation if it is a sight bill or accepted on presentation and paid at maturity if it is a time bill. 是指保证人为担保票据债务的履行，以负担同一票据债务内容为目的而作出的一种附属票据行为

Act12 Discounting 贴现 A bill of exchange is to sell a time bill already accepted by the drawee but not yet fallen due to a financial institution at a price less than its face value. 贴现是一种票据转让方式，是指持票人在需要资金时，将其持有的商业汇票，经过背书转让给银行，银行从票面金额中扣除贴现利息后，将余款支付给申请贴现人的票据行为

四、Types of bill of exchange汇票的种类 ①Banker’s draft or bank draft银行汇票 ②Trade bill商业汇票 ③Trader’s acceptance bill商业承兑汇票 ④Banker’s acceptance bill银行承兑汇票 ⑤Sight bill即期汇票 ⑥Time bill远期汇票 ⑦Direct bill直接汇票:承兑地与付款地相同 ⑧Indirect bill间接汇票:付款地与承兑地不同 ⑨Inland bill国内汇票 ⑩Foreign bill外国汇票 ⑪Local currency bill本币汇票 ⑫Foreign currency bill外币汇票

小结 汇票的定义 汇票的8要素 汇票的12种票据行为 汇票的种类 课后作业：完善课堂上制作的汇票及各种票据行为，预习本票，注意比较本票与汇票的差别。 Chapter2. Instruments

On demand we promise to pay to the order of bearer Promissory Note for USD1,000.00 Boston, 4th, June,2002 On demand we promise to pay to the order of bearer the sum of ONE THOUSAND US DOLLARS Payable at Boston For: First National Bank of Boston __________________________ Authorized Signature(s)

Maker and payer are the same person Promissory Note New York, April 1, 2001 For USD99,999.00 On the 20th June 2001 fixed by the promissory note we promise to pay BA the sum Of ninety-nine thousand nine hundred and ninety-nine US Dollars only For and on behalf of DC (signed) Promissory Note we promise to pay Maker and payer are the same person Chapter2. Instruments

（2）Promissory note 本票 Chapter2. Instruments

1） Definition of promissory note本票的定义 A promissory note is unconditional promise in writing , made by one person（maker) to another(payee),signed by the maker,engaging to pay on demand or at fixed or determinable future time , a sum certain in money to or to the order of a specified person or to bearer. 本票是一人(制票人)向另一人(收款人)签发的，保证即期或定期或在可以确定的将来时间，对某人或其指定人或执票人支付一定金额的无条件书面承诺 Chapter2. Instruments

EXHIBIT-2 Maker and payer are the same person Promissory Note New York, April 1, 2001 For USD99,999.00 On the 20th June 2001 fixed by the promissory note we promise to pay BA the sum Of ninety-nine thousand nine hundred and ninety-nine US Dollars only For and on behalf of DC (signed) Promissory Note we promise to pay Maker and payer are the same person

2) Characteristics of promissory note ①It is an in writing ② Two basic parties: ③ There is no on it ④ The maker is the ⑤ Promissory notes other than those issued by banks are not very widely used in modern commercial transactions. Bearer promissory notes payable on demand and issued by banks are equivalent to bank notes of large denomination(面额) , which may cause inflation and are prohibited by the government in may countries. unconditional promise maker, payee Maker has signed his name on the face of it acceptance primarily liable party

EXHIBIT-1 ① ⑥ ⑦ ② ⑤ ③ Promissory Note for New York ________ At* * * * *sight we promise to pay to___________________________ ______________________________________________________ the sum of__________________________________________ ______________________________________________Payable at _____________ For Authorized Signature(s) ⑧ ⑦ ④

3) Essentials to a promissory note本票的要素 ①The words clearly indicated ② An to pay ③ Name of the or his order ④ ’s signature ⑤ of issue ⑥ of payment ⑦ A of money ⑧ of payment “promissory note” unconditional promise payee Maker Place and date Period certain amount Place Chapter2. Instruments

Chapter2. Instruments On demand we promise to pay to Promissory Note for USD1,000.00 Boston, 4th, June,2002 On demand we promise to pay to the order of bearer the sum of ONE THOUSAND US DOLLARS Payable at Boston For: First National Bank of Boston __________________________ Authorized Signature(s) Chapter2. Instruments

4) Difference between a promissory note and a bill of exchange ①A promissory note is a promise to pay, whereas a bill of exchange is an order to pay ② There are only two parties to a promissory note, namely the maker and the payee (or the holder in the case of a bearer note), whereas there are three parties to a bill of exchange, namely the drawer, the drawee and the payee Chapter2. Instruments

③ The maker is primarily liable on a promissory note, whereas the drawer is primarily liable, if it is a sight bill, and the acceptor becomes primarily liable, if it is a time bill ④ When issued, a promissory note has an original note only, whereas a bill of exchange may be either a sole bill or a bill in a set. duplicate Chapter2. Instruments

Promissory note Bill of exchange A promise to pay An order to pay Two basic parties Three basic parties Maker is primarily liable Sight bill: drawer is primarily liable Accepted usance bill: acceptor is primarily liable An original note In a set or a sole

Exercises （一）Compare the following promissory notes. 1、Banker’s promissory note Promissory Note for USD1,000.00 Boston, 4th, June,2002 On demand we promise to pay to the order of bearer the sum of ONE THOUSAND US DOLLARS Payable at Boston For: First National Bank of Boston __________________________ Authorized Signature(s) Haverty Furniture Companies USD100,000.00 Atlanta 6,Otc. 2002 At SEVENTY DAYS AFTER DATE we promise to pay to the order of bearer the sum of ONE HUNDDRED THOUSAND US DOLLARS Payable AT FULTON NATIONAL BANK, MAIN OFFICE, ATLANTA, GEORGIA HAVERTY FURNITURE CO. __________________________ Authorized Signature(s)

The word “promise note” Unconditional promise to pay Payee Maker BANKER’S PROMISSORY NOTE TRADER’S PROMISSORY NOTE The word “promise note” Unconditional promise to pay Payee Maker Date and place of issue Tenor Amount Place of payment Presentation Primarily liability

（二）Issue a promissory note ⑴Amount ￡3,026.00 ⑵Date and place of issue 8/August/2003，Guangzhou, China ⑶Tenor At 90 days after date ⑷Maker Guangdong Imp. & Exp. Co., Guangzhou ⑸Payee Chemicals Import & Export Company London

Chapter2. Instruments Promissory Note for______________________ (Amount in figure) ________, ______________,200_ (Place and date of issue) (Name of month in letter) On _________________________against this promise note I( we) promise to pay to ________________________________________________________or order the sum of____________________________________________________________ FOR VALUE RECEIVED________________________________________________ Payable at__________________ _______________ Signature(s) and full address of maker Chapter2. Instruments

(3) Cheque/Check 支票 Chapter2. Instruments

支票存根

1）Definition of check支票的定义 A check is an unconditional order in writing, addressed by the customer(the drawer)to a bank(the drawee)signed by that customer authorizing the bank to pay on demand a specified sum of money to or to the order of a named person or to bearer (the payee). 支票是出票人签发的，委托办理支票存款业务的银行或者其他金融机构在见票时无条件支付确定的金额给收款人或者持票人的票据。

Features of a check支票的特点 unconditional ①A check must be ② A check must be drawn on a ③ A must be written on a check, which should be signed by or per procurement for the drawer ④ The date of a check is not essential in that it can be antedated, post-dated or dated on a non-business day ⑤ The payee may be bearer, a specified person or his order. bank sum certain in money Antedated 比实际早的日期 post-dated 把日期填迟

3）Essentials to a check支票的要素 ①The words “ ” clearly indicated ② An in writing ③ Name of the ④ ’s signature ⑤ of issue ⑥Address of the ⑦ A in money ⑧ Name of check unconditional order paying bank Drawer Place and date paying bank sum certain payee

A banker’s duty to dishonor checks ①on countermanding of payment by the customer—commonly known as “stop” 客户发出止付通知 ② on receiving notice that the customer has died or dissolved 死亡或解散 ③ on receiving notice of bankruptcy or liquidation of the customer. 破产或清算 ④ On receiving order that is made against the customer ⑤ on receiving notice of mental disorder of the customer. 精神失常 ⑥on receiving a garnishee order against the customer’s account ⑦on receiving a court order freezing the customer’s account 法院指令 冻结客户账户 The banker is obliged to honor a customer’s checks up to the amount of his credit balance or available overdraft limit. The banker’s duty to honor the check end:

Countermand of payment支票的止付 撤回 取消 Countermand of payment denotes the cancellation by the customer(the drawer) of his mandate(指令 )to the drawee bank or paying bank of the check, but in order to be effective the countermand must actually come to that bank’s notice. Mere constructive countermand, such as the bank is supposed to be in a position to learn of the stop payment, is not enough. The drawer is the only person who can instruct the drawee bank to stop payment on a particular check. 书面的止付通知书 出票人有权发出止付通知

Reasons Signature differs Words and Figures differs Amount in words requires drawer's conformation Insufficient fund Amount required in words Orders not to pay Irregularly drawn Post-dated Out of date or stale check Payee's endorsement required Refer to drawer Material Alterations to be confirmed by drawer

3） Kinds of check支票的种类 Kinds Writing Characteristics Order check ┌ the order of sb. Pay to┼ sb. or order └ sb. Endorsement and delivery Bearer check Pay bearer Delivery Crossed check General crossing One with two parallel lines drawn across it Payable through any banker Special crossing Payable through a bank mentioned in the check Certified check Certified Check Certified by the paying banker Banker’s check Banker's Check Drawer and drawee are bankers

Crossed check划线支票 A crossing is in effect an instruction to the paying bank from the drawer or holder to pay the fund to a bank only. Hence, such checks will not be paid over the counter of the paying bank and must be presented for payment by a collecting bank. 在支票正面划有两条平行线的支票称为划线支票。划线后支票只能委托银行转账，持票人不能提现。划线是一种附属的支票行为，由出票人、背书人或持票人划上，目的在于防止支票丢失和被盗时被人冒领 Chapter2. Instruments

1. General crossing普通划线 Where a check bears across its face an addition of: The words “ and company”, or any abbreviation thereof, between two parallel transverse lines, either with or without the words “not negotiable” Two parallel transverse lines simply, either with or without the words “not negotiable”, that addition constitutes a crossing, and the check is crossed generally. The effect of a general crossing is to make the check payable only through any another banker( it must be deposit into a bank account for clearing)

BCD Bank for collection Examples-1 ABC Bank ABC Bank a/c payee ABC Bank BCD Bank for collection Chapter2. Instruments

2. Special crossing特别划线 Where a check bears across its face an addition of the name of a bank, either with or without the two parallel transverse lines, that addition constitutes a special crossing. If a check is crossed specially, only the bank mentioned in the check can received payment from the drawee bank.划线后支票只能委托银行转账，持票人不能提现 目的在于防止支票丢失和被盗时被人冒领

___________________________ For: B Company Examples-2 EAST ASIA BANK Hongkong Branch Pay to the order of A Company Hong Kong Dollars One Thousand $1,000.00 ___________________________ For: B Company 6534 88890 73934 124756 236576 John Smith ABC Bank Limited A Company’s bank is A Bank, do you know how to collect the above check?

保付支票certified cheque a check containing certification that the person who issued the check has sufficient funds on deposit to cover payment 保付支票 为了避免出票人开空头支票，收款人或持票人可以要求付款行在支票上加盖“保付”印记，以保证到时一定能得到银行付款。 支票受款人取得支票后往往并不立即向付款银行提现，但为确定支票付款的真实性，或为增强支票的流通能力，就将支票转往付款银行，请求保付。支票一经付款银行保付，付款责任就由保付银行承担，发票人和背书人等均不再负责任。这种支票与银行本票性质基本相同。同时，银行保付的支票金额必须在存款余额或透支限额以内，如有超过，法院将对保付银行处以罚款。此外，银行在保付支票的同时，应将支票所载金额由存款帐户内划出，转入保付帐户，以保证能按约付款。

保付支票certified cheque 记载有付款人书写的“保付”、“照付”或其他同义字样的支票。保付支票源于美国。支票保付与汇票承兑相类似，但汇票经承兑后，其他债务人的责任不能免除；而支票经保付后，发票人与其他债务人的责任均予免除，保付人成为支票上唯一的债务人。支票保付与票据的保证有类似之处，但也有差异：(1)保付只能由支票付款人作出，而票据保证则可由在票据上签名的人或第三人作出。(2)支票经保付后，持票人不能再行使追索权；而票据经保证后，持票人仍可行使追索权。(3)支票的保付应由当事人另行作出约定，付款人不承担法定的保付义务，即保付须经付款人同意，而且付款人同意保付后，应当在支票上记载“保付”、“照付”或者其他同义字样，并签名。(4)付款人保付支票后，成为支票上的主债务人，负有绝对付款的义务，即不论发票人在付款人处有无资金，不论持票人是否在法定提示期间内作出提示，也不论发票人是否撤回其付款委托，付款人均须付款。保付支票的发票人和背书人因保付而免除责任，即使付款人拒绝付款，持票人也不能向发票人和背书人行使追索权。保付支票的持票人取得绝对的付款请求权。

支票遗失的案例 案情简介 1990年5月3日，某机械有限责任公司职工许某向该厂财务部门领取了盖有银行预留印鉴的空白转帐支票一张，号码为001403，准备用于采购生产用品，不慎在途中遗失。该厂即向开户银行办理挂失手续，因按规定不能办理挂失而未遂。 5月11日，某机械有限责任公司在当地日报上刊登了支票遗失启事，声明遗失的001403号空白转帐支票作废。 Chapter2. Instruments

支票遗失的案例 案情简介 同年8月8日，自称“付军”的人持该空白转帐支票到某微型电机有限责任公司，以某机械有限责任公司名义购买电器，并出示了名片和介绍信。某微型电机有限责任公司财务人员未严格审证，就在该空白转帐支票上填写了收款单位、金额、用途。同日，“付军”即将价值8000元的电器提走。 Chapter2. Instruments

支票遗失的案例 案情简介 8月13日，某微型电机有限责任公司持该转帐支票到某机械有限责任公司的开户银行去兑付，银行发现某机械有限责任公司的存款不足，予以退票，并按规定对某机械有限责任公司作出罚款处理。某微型电机有限责任公司遂与某机械有限责任公司交涉，要求该厂承担货款。但某机械有限责任公司以遗失的空白转帐支票已登报声明作废为理由，拒绝支付货款。 Chapter2. Instruments

支票遗失的案例 案情简介 为此，某微型电机有限责任公司于1990年8月28日向人民法院提起诉讼，称：某机械有限责任公司违反支票管理规定，支票遗失后被他人冒用，造成我厂经济损失8000元，要求某机械有限责任公司予以赔偿。 某机械有限责任公司辩称：向原告购物的空白转帐支票确系我厂签发，但该空白转帐支票遗失后，我厂已登报声明该空白转帐支票作废。原告被自称“付军”的人诈骗价值8000元的电器，与我厂无关，请求法院判决驳回原告的诉讼请求。 Chapter2. Instruments

支票遗失的案例分析 Chapter2. Instruments 在本案中，某机械有限责任公司之所以应承担赔偿责任，原因有二： 1、违反了票据管理使用规定。 支票是资金结算的依据，应按支票管理的有关规定正确使用。《中华人民共和国票据法》第八十八条规定：“支票的出票人所签发的支票金额不得超过其付款时在付款人处实有的存款金额。 出票人签发的支票金额超过其付款时在付款人处实有的存款金额的，为空头支票。禁止签发空头支票。” 某机械有限责任公司签发空白转帐支票，且银行存款不足，其行为是违反支票管理使用的有关规定的。该001403号空白转帐支票被他人冒用，造成原告8000元的经济损失，由此造成某微型电机有限责任公司的经济损失，某机械有限责任公司应负赔偿责任。 Chapter2. Instruments

支票遗失的案例分析 2、登报声明支票作废的作为是一种单方法律行为，对第三人不具有法律拘束力。《银行结算办法》第16条第1款第（九）项规定：“已签发的转帐支票遗失，银行不受理挂失，可请求收款人协助防范。”这个规定充分说明，在转帐支票遗失的情况下，签发人只有向特定人即支票上记明的收款人请求协助防范，才可能起到防止损害发生的作用。除此之外，向不特定人声明，就不具有这种作用。因此，因支票遗失造成他人的经济损失，不能免除其赔偿责任。《银行结算办法》第21条还明确规定，票据丢失造成资金损失的，应由其自行负责。这说明，登报声明遗失的支票作废的行为，不产生对外不负责任的后果。 此外，某微型电机有限责任公司“付军” 审证不严，故在这起纠纷中也有一定责任：未严格审证，擅自在空白转帐支票上填写收款单位、金额、用途，也有一定过错，应承担一定责任，承担部分经济损失 Chapter2. Instruments

Difference between a check and a bill of exchange A bill of exchange may be payable at sight or at future day，check must be paid at sight A bill of exchange may be drawn upon any person, whereas a check must be drawn upon a banker. 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.

Difference between a check and a bill of exchange 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

Sight bill;Usance bill Should be presented for payment when due Check Bill of exchange One piece Can be issued by set Drawn on a banker Drawn on any person Sight check Sight bill;Usance bill Within a certain time, Such as 30 days Should be presented for payment when due No acceptance; Drawer is primarily liable for payment Sight bill: drawer is primarily liable for payment Accepted usance bill: acceptor is primarily liable for payment

Exercises （一）Examine the following check. Chapter2. Instruments Check No.26-37-846 New York, 16th, Dec., 2003 Pay to the order of Toyota Company the sum of five thousand US dollars To Bank of New York For BBB Corp., New Yor New York ___________ Authorized Signature(s) Chapter2. Instruments

The word “check” Unconditional order to pay Date and place of issue Amount Drawer Payee Drawee No. of the check Presentation The relationship between “bank of New York” and “BBB Corp., New York”

（二）Issue a check ⑴Drawer Thames Enterprises Ltd., London ⑵Drawee The National Westminster Bank Ltd., London ⑶Payee Philips Hong Kong ⑷Date and place of issue 07/01/2001，London ⑸Amount GBP79,014 Chapter2. Instruments

National Westminster Bank Ltd., London Check No.57931 _______,_____, 200_ National Westminster Bank Ltd., London Pay to the order of ___________________________________ the sum of _____________________________________ GBP For and on behalf of ___________ Authorized Signature(s) Chapter2. Instruments

A bill of exchange shows as follows: Chapter2. Instruments

The above bill was accepted on 12 August by B bank ,HongKong. (1)Payment in due course for such bill means the sum of paid by at after maturity, i.e. to the holder, i.e. in good faith and without notice that title to bill is defective. (2)If C Co. Presented the bill on 8 Oct. for payment,B Bank，HongKong Paid it accordingly，it 口 is/ 口 isn't payment in due course． (3)If C Co. lost the bill which was picked up by D who has forged C Co's endorsement and it for payment on 10 Oct.,B Bank，HongKong did not check endorsement and paid D accordingly，it 口 is/ 口 isn't payment in due course． Chapter2. Instruments

(4)If C Co. lost the bill which had been endorseed in blank, and then it was picked up by D who presented it for payment. B Bank，HongKong without notice that D had picked up the bill, paid him on 10 Oct., it 口 is/ 口 isn't payment in due course． (5)If B Bank，HongKong was called by telephone that C Co．lost the bill B Bank still paid it to D on 10 Oct., it 口 is/ 口 isn't payment in due course． Chapter2. Instruments

(1)HKD10,000.00 B Bank , HongKong 9 Oct. C Co. C Co’s (2)× (3)× (4)× (5)× Chapter2. Instruments

Chapter 3. Remittance 汇款 Chapter3. Remittance

In this chapter, you will learn 1）Remittance and reverse remittance methods 2）parties and procedures of remittance 3） Advantages and disadvantages of remittance 4）Practice of remittance (reimbursement)偿还 5） The function of remittance in international trade Chapter3. Remittance

Remittance and reverse remittance 顺汇 逆汇 Remittance and reverse remittance The reverse remittance is that the funds flow in a contrary direction to the payment instructions transmitted therefore 由债权人以开出汇票的方式托银行向债务人索取款项 The remittance is that the funds flow in a favorable direction to the payment instructions(指示) transmitted therefore 由债务人或进口商主动将款项交给银行汇交债权人或出口商 Chapter3. Remittance

Funds flow Payment instruction Remittance Payee(Beneficiary) Payer Importer’s Bank Exporter’s Bank The buyer on his own initiative remits money to the seller through a bank. 汇款属于顺汇，即汇款人主动将款项通过银行交付给收款人。

Funds flow Payment instruction Reverse remittance Payer Payee(Beneficiary) Collection Letter of credit Importer’s Bank Exporter’s Bank The seller on his own initiative asks a bank to get money from the buyer. 托收、信用证属于逆汇，即收款人主动委托银行向付款人收款。

Definition of a international bank remittance定义 汇款人 汇出行 A client(payer) asks his bank (remitting bank), by one of the transfer methods at his option(选择) to send a sum of money to its branch or correspondent or accounting bank(paying bank) in another country and instructing the latter to pay a certain amount of money to a beneficiary. 汇入行 收款人

银行接受客户的委托，使用一定的结算工具， 通过其在海外的分支机构或代理行，把款项付给 国外收款人的一种结算方式。 remitting bank remitter Standard of classification 银行接受客户的委托，使用一定的结算工具， 通过其在海外的分支机构或代理行，把款项付给 国外收款人的一种结算方式。 paying bank Payee/ beneficiary. Chapter3. Remittance

2）Parties concerned Remitter Payee Remitting Bank 汇出行 Paying Bank 汇入行 Who is addressed to receive the remittance. Requests his bank to remit funds to a beneficiary in a foreign currency. Entrusted by the remitting bank to pay a certain amount of money to a beneficiary. Transferring funds at the request of a remitter to its correspondent or its branch in another country and instructing the latter to pay a certain amount of money to a beneficiary. Remitting Bank 汇出行 Paying Bank 汇入行

Relationship between the parties depositor、 depository bank remitter remitting bank paying remittance application form Trust business Remittance instruction/ cable/ instruments overseas branch correspondent bank accounting bank Chapter3. Remittance

3）Methods and procedures汇款的方式和流程 1.Telegraphic Transfer(T/T)电汇 Remitting bank transmitted instructions to paying bank by cable电报 /telex电传 /SWIFT. Chapter3. Remittance

电报或电传方式的汇款应具备下列内容： FM：（汇出行名称） TO：（汇入行名称） DATE（发电日期） TEST(密押) OUR REF NO. (汇款编号) NO ANY CHARGES FOR US(我行不负担费用) PAY (AMT) VALUE (DATE) (付款金额、利息日) TO BENEFICIARY(收款人) MESSAGE (汇款附言) ORDER (汇款人) COVER (头寸拨付) Chapter3. Remittance

Diagram Remitter Beneficiary Remitting Paying Bank Bank 5. 2.T/T 4.Notify the beneficiary 5. Signed for payment 2.T/T receipt 1.T/T application 6. Funds Remitting Bank Paying Bank 3.Cable/telex/SWIFT 7.Debit advice Chapter3. Remittance

美元通过CHIPS电支付方式 CHIPS是纽约清算所银行间支付系统的缩写，有一百多家银行参加组成，其中12家是清算银行，它们都在联邦储备银行开立账户，作为联邦系统成员银行。每个会员银行均有ABA号码，作为参加CHIPS清算时的代号，而所属客户会有清算所发给通用认证号码，即UID号码，作为收款人（或收款行）代号。 通过CHIPS的每笔收付都由付款一方的CHIPS会员银行主动通过CHIPS终端发出付款指示，注明账户行ABA号码和收款行UID号码，经CHIPS电脑中心传递给另一家CHIPS会员银行，收在其客户的账户上。 Chapter3. Remittance

2.Mail Transfer(M/T)信汇 Remitting bank transmitted instructions to paying bank by airmail of a payment order or mail advice. 支付委托书/信汇委托书 汇费相对低廉；资金汇兑速度取决于邮递速度，相对较慢；银行有机会占用客户的在途汇款资金。当今，在注重风险规避、讲求效率及投资回报的国际经济氛围中，尽管信汇的成本低廉，但其使用率仍呈下降态势

Diagram Remitter Beneficiary Remitting Paying Bank Bank 5. 2.M/T 4.Notify the beneficiary 5. Signed for payment 2.M/T receipt 1.M/T application 6. Funds 3.Payment order airmail advice Remitting Bank Paying Bank 7.Debit advice Chapter3. Remittance

3.Remittance by banker’s Demand Draft(D/D)票汇 Remitting bank draw a banker’s draft on paying bank ordering the latter to pay on demand the stated amount to the holder of the draft. 银行即期汇票 Chapter3. Remittance

Diagram Remitter Beneficiary Remitting Paying Bank Bank 1.D/D 6. 3.Banker’s demand draft 5.Present the draft for payment 2.Banker’s demand draft 1.D/D application 6. Funds 4.Advice of Banker’s demand draft Remitting Bank Paying Bank 7.Debit advice Chapter3. Remittance

Draft on Centre p112 “中心汇票”在汇款业务中的应用 ①什么是中心汇票？ 银行开出汇票，其付款行是在货币清算中心城市的汇票叫做中心汇票 ②为什么要用中心汇票？ 不寄票根，不拨头寸，也不占用出票行资金，只需要在清算中心帐户进行帐面操作。 ③怎样使用中心汇票？ Chapter3. Remittance

1.M/T rate =T/T-银行占用客户资金的利息 2.D/D rate =T/T-银行占用客户资金的利息 3.电汇:0.1%,每笔最低收50元人民币,最高收1000元人民币 4.信汇,票汇:0.1%,每笔最低收100元人民币,最高收1000元人民币 Chapter3. Remittance

4）Advantages and disadvantages ⑴D/D:Demand draft is a negotiable instrument, which can be transferred from one person to another by endorsement, so that it is more convenient in use for payment. 流通票据可背书转让 ⑵ M/T: Bank-to-bank instructions with banks responsible for making payments, so it is rather reliable;收款可靠 ⑶ T/T: Fastest way to transfer funds; Bank-to-bank instructions with banks responsible for making payments, so it is quite safe,especially when large amount is transferred. 速度最快，适用于较大金额的汇款

2.Disadvantages ⑴D/D: ①Remitter himself is responsible for mailing the demand draft, its transmission is slower than that of T/T and cannot serve the purpose of quick payment; 速度慢 ② It is possible for a demand draft to be lost, stolen or destroyed; 即期汇票被遗失、被窃或遭毁坏 ③ The remitting bank is reluctant to stop payment on a draft issued by itself for this would mean an act of dishonor on its part which will have an unfavorable effect on its credit-worthiness. 止付汇票将影响银行的信誉 To stop payment on lost draft is time consuming .旷日持久 Chapter3. Remittance

2.Disadvantages ⑵M/T: ①Mail transfer order to be delayed or lost in the post, thus causing difficulty for its payment; ② Its transmission is slower than that of T/T and cannot serve the purpose of quick payment; ③The beneficiary must await notification from the bank concerned. 资金汇兑速度取决于邮递速度，相对较慢；银行有机会占用客户的在途汇款资金。 Chapter3. Remittance

2.Disadvantages ⑶ T/T: ①It is more expensive as compared with M/T or D/D, but if the amount transferred is large, the interest cost which should be otherwise incurred due to time delay can be saved; ② The beneficiary must await notification （通知,通告）from the bank concerned. 由于汇票的转让流通，加大了汇票所体现的汇款资金的流动性及银行对持票人身份确认的难度， 票汇的汇兑速度取决于汇款人寄发汇票的时间及邮递速度，银行通常可占用在途汇款资金 Chapter3. Remittance

Summary ⑴M/T usually made by individuals for family maintenance, cash gift, etc. 生活费，礼物 ⑵ T/T is favorable to the seller, who can speed up the turnover of funds, increase the income of interests and avoid the risk of fluctuation in the exchange rate.加快资金周转，避免汇率风险 ⑶However, the seller should prevent the buyer from forcing the contractual price down under the pretext of bearing more expenses. 进口商借口支付过多的汇费而压低合同价格 Chapter3. Remittance

⑷ SWIFT can provides the member banks with faster, safer, cheaper, and more reliable handling of their customers’s transactions., Swiftness, reliability, safety, and inexpensiveness are major advantages of transactions by means of SWIFT messages. Chapter3. Remittance

Diagram Remitter Beneficiary Remitting Paying Bank Bank 5. 2.T/T 4.Notify the beneficiary 5. Signed for payment 2.T/T receipt 1.T/T application 6. Funds Remitting Bank Paying Bank 3.Cable/telex/SWIFT 7.Debit advice Chapter3. Remittance

Usually adopted procedures for M/T and T/T (1)The remitter (a bank’s customer) makes out the necessary application form and gives his signed written application to his bank instructing it to issue an M/T or T/T. Indicating the beneficiary’s full name，address and the name of beneficiary’s banker (if any). This actually means that the remitter sends a written order to the remitting bank to pay t the debit of the remitter’s account or against cash deposit. (2)The remitting bank debits his customer’s account with the amount to be remitter together with its commission and expenses (if any). Chapter3. Remittance

Usually adopted procedures for M/T and T/T (3)The remitting bank issues a payment order to its branch or correspondent in the place where the beneficiary is domiciled.指定支付地点的 The payment order specifies the details of the payment: amount, name and address of the Beneficiary, and name of the remitter. The payment order must be authenticated with the authorized signatures of the remitting bank. Chapter3. Remittance

Usually adopted procedures for M/T and T/T (4)Upon receipt of the payment order, the paying bank verifies the authorized signatures notifies the beneficiary，and pays to him the stated amount minus expenses charged by itself. (5)The paying bank claims reimbursement from the remitting bank in accordance with the latter’s instructions. The whole procedure virtually is done by entries over banking accounts, where the buyer’s bank (remitting bank) debits his account and credits the account of the correspondent bank, receipt of the payment instructions, the latter (the paying bank) passes a reciprocal entry over it account with the remitting bank and pays the money over to the exporter. Chapter3. Remittance

汇 出 行 的 处 理 1.审核汇款 申请书 2.审核外汇管理 规定中的文件 3.收取汇款 4.计收汇费和邮电费 汇款方式：电汇(T/T)、信汇(M/T)、票汇(D/D) 汇出货币及金额大小写 1.审核汇款 申请书 收款人全称和详细地址 收款人银行（汇入行）及收款人账号 汇 出 行 的 处 理 附言：进口合同号码、款项用途 国外银行费用由何方负担、授权银行借记汇款人账户 正本合同 国际收支申报表 2.审核外汇管理 规定中的文件 发票 贸易进口付汇核销单 进口/出口货物报关单 进口付汇备案表 运输单据、保险单据 汇款有效凭证 外汇现汇 3.收取汇款 外汇现钞 4.计收汇费和邮电费 支票

密押 1.核对汇款指示、汇票的真实性 印鉴 汇 入 2. 审核汇款指示内容 行 的 处 理 3.检查汇款头寸， 坚持“收妥头寸、解付汇款”的原则 4. 处理汇款的退汇与查询 Chapter3. Remittance

SWIFTＭＴ100格式 15 Test key密押 20 Transaction reference number(TRN)业务备查号 Value date, currency code, amount起息日,付款货币金额 50 Ordering customer汇款人 52X Ordering bank汇出行 53S Sender’s correspondent bank 汇出行之代理行 54S Receiver’s correspondent bank汇入行之代理行 57S Account with bank受益人之账户行 59 Beneficiary customer受益人 70 Details of payment汇款用途 71A Details of charges费用支付情况 72 Bank to bank information汇出行与汇入行间业务指示

汇款头寸的拨付 一、汇出、入行之间建立了往来账户关系 二、汇出、入行在同一第三方银行（碰头行）开立账户 三、汇出、入行在不同的银行开立账户 Chapter3. Remittance

deposit account 存款账户 无存款账户 第三家银行转账 Credit paying bank Debit remitting bank remitter payee 汇 出 行: 账 户 行 汇 入 行: 账 户 行 deposit account payment debit 存款账户 paying bank remitting bank 无存款账户 第三家银行转账 Chapter3. Remittance

汇款头寸的拨付 1、汇入行在汇出行开立账户，汇出行解付汇款时 头寸拨付方式：“In cover，we have credited the sum to your account with us.”此时头寸以及拨入汇入行帐户，可以支付了。 Chapter3. Remittance

Paying Bank Crediting vostro account of the paying bank 贷记解付行（汇入行）来账 汇款指示中 头寸拨付条款 开户行 账户行 1.In cover, we have credited your a/c with us. Remitting Bank Paying Bank 汇款中的货币 为汇出国的货币 Chapter3. Remittance

In cover, we have credited your account with us.                                               Currency: USD 账户行 In cover, we have credited your account with us. Remitting bank(US Bank) Paying bank(UK Bank) Chapter3. Remittance

汇款头寸的拨付 2、汇出行在汇入行开立账户，汇出行委托汇入行付款时头寸拨付方式： “In cover please debit the sum to our account with you.” 或者： “In reimbursement ：You are authorized to debit the face amount to our account held with you.” 汇入行借记该帐户后，应该寄出借记报单注明“your account debited”字样 Chapter3. Remittance

Paying Bank Debiting remitting bank ’s Nostro account 借记汇出行往账 汇款指示中 头寸拨付条款 开户行 账户行 1.In cover, please debit our (H.o)a/c with you. Remitting Bank Paying Bank 2.Your a/c debited. 汇入行 汇出行 已借记报单 汇款中的货币 为汇入国的货币 Chapter3. Remittance

In cover ,please debit our account with you.                                               Currency: GBP 账户行 In cover ,please debit our account with you. Remitting bank(US Bank) Paying bank(UK Bank) Chapter3. Remittance

汇款头寸的拨付 3、汇出、入行在同一第三方银行（碰头行）开立账户 头寸拨付方式：“In cover，we have authorized x Bank to debit our account and credit your account with them.” Chapter3. Remittance

Instructing a reimbursing bank to effect payment by debiting the remitting bank’s Nostro account 通过共同的账户行拨头寸 开户行 开户行 1.In cover,we have authorized X Bank to debit our a/c and credit your a/c with them 汇出行 汇入行 账户行 X 2.Please debit our a/c and credit B a/c with you 3.Your a/c credited 3.Your a/c debited Chapter3. Remittance

Remitting bank Paying bank Open USD account Open USD account XYZ bank                                                              In cover, we have authorized XYZ Bank , New York to debit our account and credit your account with them. Remitting bank Paying bank Open USD account Open USD account XYZ bank

汇款头寸的拨付 4、汇出、入行在不同的银行开立账户 头寸拨付方式：In cover，we have instructed A Bank to pay the proceeds to your account with D Bank. 或者： In cover，we have instructed A Bank to remit to you. Chapter3. Remittance

Instructing a reimbursing bank to effect payment by debiting the remitting bank’s nostro account 通过共同的账户行拨头寸 开户行 开户行 1.In cover,we have instructed X Bank to Remit proceeds to you 汇出行 汇入行 账户行 X 2.Please debit our a/c and credit B a/c with you 3.Your a/c credited 3.Your a/c debited Chapter3. Remittance

汇款的退汇指在汇款解付之前，由汇款人或 收款人要求撤消该笔汇款的行为。 Cancellation of the remittance 汇款的退汇 汇款的退汇指在汇款解付之前，由汇款人或 收款人要求撤消该笔汇款的行为。 Chapter3. Remittance

Cancellation of Mail transfer or telegraphic transfer Mail transfer or telegraphic transfer can be cancelled before its payment is made. It is usually done at the request of the remitter or the payee who refuses to receive the payment. Whenever the paying bank receives an advice from the remitting bank to cancel the latter’s payment order, it will do so accordingly. Once the payment has been made, the remittance cannot be cancelled. The remitter himself may contact the payee to claim back the remittance payment. Chapter3. Remittance

Cancellation of a bank draft already issued If the remitter requests the remitting bank to cancel a bank draft already issued by reason of its being lost or stolen, the latter is generally reluctant to do so because the remitting bank the responsibility of guaranteeing the draft’s payment once it is issued. However, the remitting bank may issue a duplicate of draft against a letter of indemnity from the remitter, if the paying bank confirms that the original one has not yet been paid. Chapter3. Remittance

5） The function of Remittance in International Trade ①Payment in advance is made by remittance 预付货款 Payment in Advance which is adopted in international trade is usually effected by remittance, and is advantageous to exporter. ②Open 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. Chapter3. Remittance

①Payment in advance Payment in advance signifies that the importer pays the exporter before delivery of the goods. In fact, importers are seldom prepared to make fun payment in advance of the shipment of goods. It is more common to find that they are prepared to pay in advance only a certain percentage of the value of the goods, that is, so called down payment. Payment in advance usually appears in transactions in small amount or in particular business Lines. The buyer has to advance the capital too early and undertake the risk of late delivery or non-delivery. Chapter3. Remittance

②Open account business Open account business is also called payment after arrival of goods. The seller may be prepared to ship his goods on open account when the exporter is well acquainted with the financial status of the buyer and entertains no doubt about his solvency偿付能力 , or when the exporter sells goods to his an overseas branch or subsidiary. Under open account business, the exporter sends his shipping documents to the buyer who remits in due course or at agreed intervals间隔 the agreed price either by T/T, M/T, or D/D through a bank Chapter3. Remittance

Chapter 4. Collection 托收 Chapter4. Collection

In this chapter, you will learn 4.1 Introduction to Collection 4.2 Types of Collection 4.3 Risks and loan in collection 4.4 Instruction for reimbursement 4.5 Uniform Rules for Collection (URC522) Chapter4. Collection

4.1 Introduction to Collection Financial instrument (1) Definition of Collection I. Collection is an arrangement whereby the goods are shipped and a relevant bill of exchange is drawn by the seller on the buyer, and/or shipping documents are forwarded to the seller’s bank with clear instructions for collection through one of its correspondent bank located in the domicile(付款地) of the buyer. Bill of lading （title documents)

(1) Definition of Collection Chapter4. Collection

(1) Definition of Collection II. (URC522, Article 2 Definition of Collection，p114) Collection means the handling by banks of documents in accordance with instructions received in order to : i. obtain payment and /or, acceptance or ii. deliver documents against payment and /or against acceptance. iii. Deliver documents on other terms and conditions. “托收”指银行依所受指示处理统一规则所称 之单据，以求： 获得承兑／付款，或 凭承兑／付款交付单据，或 依其它条件交付单据

Drawee Buyer Importer Collecting Bank 1.get acceptance／payment Drawee Buyer Importer Collecting Bank 2.deliver documents against acceptance/payment D/A D/P Chapter4. Collection

（2）Parties to the operation of collections当事人 1. The principal (seller/exporter/drawer) 委托人（卖方/出口商/出票人） 2. The remitting (principal’s/seller’s/exporter’s)bank 托收行（又称寄单行）（委托人/卖方/出口商的银行） 3. The collecting bank or presenting bank 代收行或提示行 4. The drawee ( buyer/importer) 受票人（买方/进口商） 5. Representative in case of need 需要时的代理人 who is the party entrusting the handling of a collection to a bank the bank to which the principal has entrusted the handling of a collection any bank, other than the remitting bank, involved in processing the collection the collecting bank making presentation to the drawee the one to whom presentation is to be made in accordance with the collection instruction

托收业务可分为委托和收款两个阶段，委托人、托收行、代收行与付款人之间的关系有：委托代理关系、债权债务关系。委托人与托收行、托收行与代收行之间皆为委托代理关系；委托人与付款人之间是债权债务关系。代收行与付款人之间不存在委托代理关系或契约关系。 Chapter4. Collection

Collection instruction Representative in case of need Principal Drawee Non-acceptance Non-payment Acceptance; Cash payment Documentation; Collection order Collection order Documents Financial Documents; Collection instruction Collection instruction Remitting Bank Colleting Bank Chapter4. Collection

托收的两个契约关系 委托人与托收行之间的契约关系 托收行与代收行之间的契约关系 出口商用托收申请书发出的托收指示，形成委托人与托收行之间的契约。 托收行发给代收行的面函,形成托收行于代收行的契约 托收行将列入托收申请书的各项托收指示全部转入托收面函，不能随便增加或减少

Chapter4. Collection

The B／E’s delivering: endorsement Principal Remitting Bank Colleting Bank (1) when principal present his B／E to remitting bank: Blank Endorsement For Seller’s name,place Signature Chapter4. Collection

The B／E’s delivering: endorsement (2) when remitting bank airmail B／E to collecting bank : Collecting Endorsement For collection Pay to the order of collecting bank, place For remitting bank ,place Signature Chapter4. Collection

The Availised B／E for collecting Per Aval For account of Name of acceptor Name of collecting bank, place Signature Chapter4. Collection

4.2 Types of collection In terms of documents related *1) Clean collection光票托收 *2) Documentary collection跟单托收 3)Direct collection直接托收 Chapter4. Collection

URC522 Article 2 b. “Documents” means financial documents and /or commercial documents: “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. Chapter4. Collection

（1）Clean collection光票托收 Collection on financial instruments without being accompanied by commercial documents. Open-account or on consignment 赊销 寄售 是指不附带商业单据的金融单据的托收。光票托收一般用于收取货款尾数、代垫费用、佣金、样品费或其他贸易从属费用。光票托收的汇票有即期汇票和远期汇票

Collection instruction Representative in case of need Principal Drawee Non-acceptance Non-payment Acceptance; Cash payment Documentation; Collection order Collection order Documents Financial Documents; Collection instruction Collection instruction Remitting Bank Colleting Bank Chapter4. Collection

（2）Documentary collection跟单托收 Collection on a.financial instruments being accompanied by commercial documents or; b.commercial documents without being accompanied by financial instruments. 是指将金融单据与商业单据一起或仅有商业单据不附有汇票等金融单据的托收。 Chapter4. Collection

跟单托收 a.附带商业单据的金融单据项下的托收 b.不附有金融单据的商业单据项下的托收 避免印花税 Chapter4. Collection

Collection Procedure principal Drawee ／payer remitting bank collecting S/C 10.goods principal 1.goods Drawee ／payer Shipping company 2.B/L 9.B/L 7. D/P, D/A 4. receipt 8. deliver documents 3. Collection application, documentary bill 12. make payment 6. Present documentary bill 5.collection instruction, documentary bill remitting bank collecting bank 11. reimbursement Chapter4. Collection

Terms for delivering documents 1. Documents against Acceptance (D∕A) 2. Documents against Payment (D∕P) 3. Documents against Payment at XX days after sight (D∕P at XX days after sight ) Chapter4. Collection

1. (D∕A) Collection Procedure S/C 10.goods principal 1.goods Drawee ／payer Shipping company 2.B/L 9.B/L 7. D/A 4. receipt 8. deliver documents 6. Present documentary B／E for acceptance 12. Make payment 11. Present B／E for Payment 3. Collection instruction, documentary bill 14. make payment 5.collection instruction, documentary bill remitting bank collecting bank 13. reimbursement Chapter4. Collection

注释： *即期付款交单（D/P SIGHT） 1、进出口商订立买卖合同，规定采用承兑付款交单方式结算。 2、出口商发货后，填写托收申请书，开具远期汇票，连同全套货运单据交托收银行，委托代收货款。 3、托收银行填制和寄送托收委托书和跟单汇票委托代收银行收款。 4、代收银行向进口商提示跟单汇票。 5、进口商验单无误后承兑汇票 6、代收银行将全套货运单据交进口商。 7、到期日代收银行向进口商提示付款 8、进口商验单无误后付清货款。 9、代收银行向托收银行付款 。 10、托收银行将货款付给出口商。 *即期付款交单（D/P SIGHT） Chapter4. Collection

2.D∕P Collection Procedure S/C 10.goods principal 1.goods Drawee ／payer Shipping company 2.B/L 9.B/L 7. Make payment 6. Present documentary B／E for payment 4. receipt 8. deliver documentary bill 3. Collection instruction, documentary bill 12. make payment 5.collection instruction, documentary bill remitting bank collecting bank 11. reimbursement Chapter4. Collection

注释： *即期付款交单（D/P SIGHT） 1、进出口商订立买卖合同，规定采用即期付款交单方式结算。 2、出口商发货后，填写托收申请书，开具即期汇票，连同全套货运单据交托收银行，委托代收货款。 3、托收银行填制和寄送托收委托书和跟单汇票委托代收银行收款。 4、代收银行向进口商提示跟单汇票。 5、进口商验单无误后付清货款。 6、代收银行将全套货运单据交进口商。 7、代收银行向托收银行付款 。 8、托收银行将货款付给出口商。 *即期付款交单（D/P SIGHT） Chapter4. Collection

3.D∕P at x days after sight Collection Procedure S/C 10.goods principal 1.goods Drawee ／payer Shipping company 2.B/L 9.B/L 7. D/A 4. receipt 10. deliver documents 6. Present documentary B／E for acceptance 9. Make payment 8. Present B／E for Payment 3. Collection instruction, documentary bill 14. make payment 5.collection instruction, documentary bill remitting bank collecting bank 13. reimbursement Chapter4. Collection

*远期付款交单（D/P AFTER SIGHT） 注释： 1、进出口商订立买卖合同，规定采用远期付款交单方式结算。 2、出口商发货后，填写托收申请书，开具远期汇票，连同全套货运单据交托收银行，委托代收货款。 3、收银行邮寄托收委托书和跟单汇票委托代收银行收款。 4、代收银行向进口商提示汇票、要求承兑。 5、进口商验单无误后承兑汇票，代收银行保留汇票和全套单据 *远期付款交单（D/P AFTER SIGHT） Chapter4. Collection

*远期付款交单（D/P AFTER SIGHT） 注释： 6、汇票到期日提示汇票，要求进口商付款。 7、进口商付清货款。 8、代收银行将全套货运单据交进口商。 9、代收银行向托收银行付款。 10、托收银行将货款付给出口商。 货物抵港，但买方尚未付款，不能得到单据，无法提货，以致货物滞港或招致损失或罚款。怎么办？ URC522规定： 如果托收指示明确为远期付款交单，则单据只能凭这样的付款才能交出，代收行并不会因延迟交单产生任何后果负有责任。 *远期付款交单（D/P AFTER SIGHT） Chapter4. Collection

案例一： 上海家纺公司曾多次向美国物源公司售货，同时将物权单证通过上海某银行交与美国Ｆ银行按付款交单方式托收。Ｆ银行在未向物源公司收妥货款的情况下，将单证交给了物源公司。 现物源公司宣告破产，家纺公司因此向美国联邦地区法院新墨西哥管区起诉Ｆ银行，以挽回损失。 美国地区法院首席法官审理认为，Ｆ银行在未收货款的情况下将物权凭证交给物源公司是一种总体上的疏忽行为，由于这一疏忽，造成了家纺公司的损失。 Ｆ银行的抗辩试图将责任转至家纺公司坏的商业决策上。嗣后，家纺公司与Ｆ银行达成和解协议，Ｆ银行支付了相应款项。

案例二： 上海Ｗ公司在１９９３年多次向美国Ｌ公司售货，同时指示上海Ｏ银行将全套物权单证转寄纽约Ｃ银行按付款交单方式托收。 但Ｃ银行误将付款交单作承兑交单处理，致使Ｌ公司在未付款的情况下，从Ｃ银行取得了全套物权单证，Ｌ公司事后也没有向Ｗ公司付款。 Ｗ公司因此向人民法院起诉，要求Ｏ银行和Ｃ银行共同承担赔偿责任。 法院审理后认为，认定本案的法律关系性质应结合托收的实现方式、当事人的意思表示和具体行为、《托收统一规则》的相关规定等内容。 就本案事实，从整体上可判断各方当事人之间的关系为复代理关系。法院据此判决Ｃ银行向Ｗ公司偿付相应损失。

其他条件或形式的交单 1、Partial Payment（部分付款或部分承兑交单） 2、 Deliver of document against promissory note（凭本票或付款承诺书交单） 3、 Deliver of document against letters of undertaking to pay（凭付款承诺书交单） 4、 Deliver of document against a signed trust receipt （凭签字的信托收据交单） 5、 Deliver of document against letter of guarantee from the buyers or their guaranteeing payment must be made at a fixed future date （凭买方或其银行开立保函担保在远期付款交单） Chapter4. Collection

（3）Direct collection直接托收 Because the documents under direct collection are remitted by the seller directly to the collecting bank ,they are not routed through the remitting bank ,so direct collection is not incorporated in the URC No.522. Chapter4. Collection

Duplicate of Direct Collection Direct collection Procedure S/C 10.goods principal 1.goods Drawee ／payer Shipping company 2.B/L 9.B/L 7. Make payment 4. Blank Collection instruction 5. Duplicate of Direct Collection instruction, 8. deliver documents 6. Present 3. Direct Collection instruction, 5.collection instruction, documents 12. make payment remitting bank collecting bank 11. reimbursement Chapter4. Collection

4.3 Instruction for reimbursement(偿还) ①当托收行在代收行开立账户时,托收行应在托收指示中列明： “when collected please credit our account with you under your cable /airmail advice to us.” 1.when collected please credit our account with you under your cable /airmail advice to us. 开户行 账户行 Remitting Bank Collecting Bank 2.Your a/c credited.

4.3 Instruction for reimbursement(偿还) ②当代收行在托收行开立账户时，托收行应在托收指示中列明： “Please collect the proceeds and authorize us by cable/airmail to debit your account with us.” 1. Please collect the proceeds and authorize us by cable/airmail to debit your account with us. 账户行 开户行 Remitting Bank Collecting Bank 2.Your a/c debited.

4.3 Instruction for reimbursement(偿还) ③托收行与代收行之间无账户关系，而托收行在另一家银行开立账户时 托收行应在托收指示中列明： “Please collect and remit the proceeds to A Bank for credit of our account with them under their cable/airmail advice to us.” Chapter4. Collection

Remitting Collecting Bank Bank 账户行 X Instructing a reimbursing bank to effect payment 通过账户行拨头寸 1.Please collect and remit the proceeds to X Bank for credit of our account with them under their cable/airmail advice to us 开户行 开户行 Remitting Bank Collecting Bank 2.Please debit our a/c and credit B a/c with you 账户行 X 3.Your a/c credited 3.Your a/c debited Chapter4. Collection

4.4 Risk and loan involved 托收业务中的风险与信贷 （1）Risks for exporters出口商的风险 Seldom does a seller accept payment by D/P or D/A unless the buyer is of unquestionable integrity or if there is a special relation between the seller and the buyer. Generally speaking, most of the risks the exporter assumes include : acceptance risk市场风险, credit risk of the importer进口商信用风险, political risk of the importer’s country进口国家风险, foreign exchange transfer risk外汇风险 and documentary risk that the shipment may fail to clear customs.单据风险导致货物无法清关 Chapter4. Collection

Acceptance risk 市场风险 Storage charge 仓储费 Reduced price in the market被迫降价 The real reason for the non-acceptance of merchandise is that between the time the order was placed and the draft received, there has been a significant drop in the market price . 货价大幅度降价 Chapter4. Collection

Non-payment of trade acceptance Generally, shipping on a time-draft basis is more risky for the seller than a sight draft. D/A 1.After the time-draft is accepted , the colleting bank will release the documents to the importer . So, the exporter lose the control over the merchandise.出口商失去货物 2. The importer may dishonor for payment at maturity. 出口商到期遭拒付. Chapter4. Collection

Possession of goods进口商可提前占有货物 惯例风险 1.Due to local regulation, the importer can get possession of the goods without paying or accepting the draft. 2.Certain governments allocate(分派,分配) the needed foreign exchange after the importer show them the shipping documents. Chapter4. Collection

Exchange restrictions 外汇管制 The local exchange regulations do not permit the importer to obtain the necessary foreign exchange.进口商无法获得外汇对外支付 Questions 1.How many exporter’s measures against risks can you list ? 2.Which measure do you think is the most important?

Exporter’s measures against risks 1. Importer is of goods reputation and good financial standing.进口商的信誉和财务状况良好 2. The exporter should take into account the economic and political conditions. 出口商应考虑经济和政治风险 3. The exporter should pay attention to the foreign exchange regulations in the importing country. 关注进口国的外汇管理政策 4.The exporter can take precautions, such as by hedging operations or by immediate settlement. 采取外汇风险保值措施或提前结汇 Chapter4. Collection

(2) Risks for importer 1)Payment may have to be made prior to the arrival of the goods. 2)the importer incurs two separate legal liabilities; that is, he will have another legal liability on the bill of exchange besides his 1iability on the sales contract. 3) if a bill of exchange is protested, this can ruin the reputation of a trader and may be considered an act of bankruptcy. Chapter4. Collection

(3) Financing under the collection 托收项下的资金融通 1) Bill purchased (BP)托收出口押汇 The remitting bank purchases the documentary bill drawn by the exporter on the importer 是由托收行买入出口商开立的以进口商为付款人的汇票及随附的商业单据，从汇票金额中扣除利息及费用后，将净款付给出口商 Chapter4. Collection

(3) Financing under the collection 托收项下的资金融通 2) Trust receipt 信托收据融资 D/P at XX days after sight to issue trust receipt in exchange for documents （简称T/R）是适用于远期付款交单的一种融资便利。在远期付款交单方式之下，进口商若想先与付款到期日取得货物，即可开出信托收据，凭其向代收行借出商业单据提货 3）贷款（Advance against collection) 4）使用融通汇票贴现融资(Accommodation Bill for discount) Chapter4. Collection

4.5 Uniform Rules for Collection (URC522) (1)General Provisions and Definition (2)Form and structure of Collection (3)Form of Presentation (4)Liabilities and Responsibilities (5)Payment (6)Interest, Charges and Expenses (7)Other Provisions Chapter4. Collection

Uniform Rules for Collection (URC522) 目录： A 总则与定义 第1条 URC522的适用 第2条 托收的定义 第3条 托收的当事方 B 托收的形式与结构 第4条 托收指示 C 提示的形式 第5条 提示 第6条 即期／承兑 第7条 商业单据的交付: 承兑交单(D／A)和付款交单(D／P) 第8条 单据的制作 Chapter4. Collection

Uniform Rules for Collection (URC522) D 责任和义务 第9条 善意及合理的谨慎 第10条 单据与货物／月艮务／履行 第11条 对被指示方行为的免责 第12条 对所收单据的免责 第13条 对单据有效性的免责 第14条 对翻译以及传递中的延误、遗失的免责 第15条 不可抗力 Chapter4. Collection

Uniform Rules for Collection (URC522) E 付款 第16条 毫不迟延地付款 第17条 以本国货币支付 第18条 以外国货币支付 第19条 部分支付 F 利息、手续费和开支 第20条 利息 第21条 手续费和开支 G 其他规定 第22条 承兑 第23条 本票和其他票据 第24条 拒绝证明 第25条 需要时的代理人 第26条 通知 Chapter4. Collection

一个关于国际货物买卖货款 (托收)案例 2006 年3 月19 日,浙江省桐乡市进出口公司(以下简称进出口公司) 与TDS 公司订立了外销合同一份。合同规定由进出口公司向美国TDS 公司出口男式西服6000 套, 价格条件为FOB 上海总计U SD513000.00, 装运期为2006 年6 月15 日前, 付款方式为即期付款交单。 同时自合同订立起10 日内先付10% 货款至进出口公司帐户, 否则交货日期相应延期。该合同由TDS 公司经理石磊于2006 年4 月15 日签署成立。之后, 振达公司负责与外商TDS 公司的联系并开工生产。进出口公司则着手办理、缮制出口该批服装所需的单据。

一个关于国际货物买卖货款 (托收)案例 2006 年6 月10 日,6000套西服通过美商联运集团从上海运往纽约。当天下午4 时左右, TDS公司石磊来电话, 为了赶在6 月18 日美国对中国输美纺织品制裁前拿到全套单据, 请我公司改用U PS 邮寄方式将全套单据直接寄到美国亚洲银行。当日, 进出口公司经办人即将制作好的全套单据交到中国银行桐乡支行(以下简称桐乡中行)

一个关于国际货物买卖货款 (托收)案例 桐乡中行在审查全套单据后, 以省中行的名义签发了托收指示函, 并告知进出口公司经办人时间已晚, 当日银行不能寄单,进出口公司经办人遂要求自行寄单, 桐乡中行同意后将全套单据及托收指示函交由进出口公司经办人签收。 此后,进出口公司经办人赶到嘉兴, 通过U PS国际快邮公司将全套单据及托收指示函寄往美国亚洲银行。该行于同年6 月13 日上午9 点38 分签收了该U PS 快邮件。 该批服装于2006 年7 月4 日运抵纽约,TDS 公司于2006 年7 月16 日、7 月22 日分两批提走了全部服装。TDS 公司向振达公司表示暂时无力支付服装款, 希望能通过协商分期付清货款。此后, 省中行与美国亚洲银行几经交涉, 尚未结果。

案例分析 本案的一个关键点在于: 买卖双方所约定的支付方式是即期D/ P , 桐乡中行给亚洲银行的指示也是即期D/ P。这一支付方式是指付款交单, 即在付款人未付清货款之前, 银行不得将表货物所有权的提单等装运单据交给货物买卖合同的买方TDS 公司。 然而, 在本案恰是在TDS 公司未付款的条件下亚洲银行交付了单据, 致使TDS 公司不付款而取得了货物, 而作为卖方的进出口公司落得钱货两空。

案例分析 全套单据及托收指示函是进出口公司自行寄往托收关系中的代收行美国亚洲银行的, 属于“未按有关托收规程办理寄单托收事宜”。这样, 未按有关托收规程办理寄单是原因, 未收到货款是结果。 然而, 查遍国际商会的《托收统一规则》全部文本, 并未禁止买卖合同的卖方直接将单据及银行的托收指示函寄给代收行。 诚然, 在正常的托收业务中应该由托收银行向代收银行寄单, 而非托收关系的出口方向代收银行直接寄单

案例分析 进出口公司寄往亚洲银行的单据及桐乡中行的托收指示函于2006 年6 月13 日上午9 点38分由亚洲银行签收; 该托收指示函明确规定的是即期交单付款的托收方式(D/P ) ; 所约定支付的货币是美元; 付款人为TDS 公司。在D/P 交易方式下, 根据《托收统一规则》第9 条之规定“遇有即期付款的单据, 提示行必须毫无迟延地提示要求付款。”

案例分析 恰恰相反, 亚洲银行在收到托收指示函和单据后, 明知该项托收属于即期付款交单的托收业务, 买方不付款, 它就无权将单据交与买方, 却在TDS 公司未付款的情况下, 将全套单据交与付款人(买卖合同的买方) TDS 公司, 致使卖方钱货两空, 损失惨重。亚洲银行在未收到货款的情况下交付单据, 就根本违反了合理谨慎的义务。对此, 亚洲银行要承担不可推卸的责任。人们甚至有理由相信该银行与TDS公司是否存在共谋。

案例分析 不过, 因在托收关系中进出口公司是委托人, 桐乡中行是受托办理托收货款的托收行, 亚洲银行是桐乡中行的代理行。因此, 桐乡中行要对进出口公司承担其代理行的过错责任。在承担此项责任后, 桐乡中行有权依据托收指示函及《托收统一规则》向亚洲银行进行追索。

综上所述 第一, 进出口公司直接寄单给亚洲银行与不能收款之间无因果关系, 进出口公司对此均无过错。 第二, 美国亚洲银行严重违反《托收统一规则》及桐乡中行的托收指示函关于即期付款交单的规定, 在未收款的情况下交单, 导致钱货两空, 应承担全部责任。

综上所述 第三, 尽管桐乡中行同意进出口公司自行寄单给亚洲银行与一般的做法不同, 承如前所分析, 在即期D/p 的条件下它并不导致既收不到货款又被付款人提走货物。就此意义上, 它没有过错。 。然而, 由于亚洲银行是其代理行, 其代理行为超出了代理权限, 桐乡中行有权向亚洲银行索赔。 但是在托收关系中, 进出口公司与亚洲银行无法律关系, 一切交易是通过桐乡中行来进行的, 进出口公司与桐乡中行是委托代理关系, 后者之代理人(亚洲银行) 的不端行为造成不能收款, 因此桐乡中行要对其代理行的过错向委托人进出口公司承担责任, 然后再向责任方亚洲银行追索。

综上所述 第四, 就本案而言, 为了收回货款可以从两个方面对外索赔: 1.进出口公司可依据货物买卖合同向TDS 公司追究违约责任; 2.桐乡中行依据托收指示函(这构成了桐乡中行与亚洲银行之间的委托代理合同) 及《托收统一规则》向亚洲银行追究其不付款交单的违约责任。 两者相比较, 由银行向银行交涉更为有利。在即期付款交单的托收业务中, 银行不收款交单, 类似于海上货物运输中的承运人无提单放货, 其责任是十分肯定的。再者, 银行无法如一般的贸易商那样随意逃避债务, 所以应由桐乡中行向亚洲银行索赔, 比较能够保证成功。

Chapter 5. Letters of Credit 信用证 Chapter5. L/C

In this chapter, you will learn 5.1 Introduction of L/C 5.2 L/C flow chart 5.3 Types of Credit信用证的种类 5.4 UCP600 Chapter5. L/C

5.1 Introduction of L/C (1)Definition of a letter of credit 信用证的定义 The documentary credit 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. 跟单信用证或信用证是银行（开证行）根据买方（申请人）的要求和指示或以银行自身的名义开立的，凭 符合信用证条款的单据，向卖方（受益人）支付一定金额的书面承诺。

Fill in the above blanks and give a complete definition of credit. 跟单信用证或信用证是银行（开证行）根据买方（申请人）的要求和指示或以银行自身的名义开立的，凭 符合信用证条款的单据，向卖方（受益人）支付一定金额的书面承诺。 The _________________ or ______________ is an __________ issued by a _______ for the account of the __________(the ________) or for its own account, to pay the beneficiary the value of the draft and/or documents _____________________ __________________________________________ __________________________________. Fill in the above blanks and give a complete definition of credit.

信用证体现了银行信用。开证行以自己的信用做出付款保证，这种保证与一般担保业务不同。在一般的担保业务中，只有被担保人不履约时，担保人才承担付款义务，而信用证业务中的开证行承担第一性付款义务，只要交单相符，开证行必须付款，其付款不以进口人的付款为前提条件。 Chapter5. L/C

UCP500 Article 2 Meaning of Credit “Documentary Credit(s)” and “Standby Letter(s) of Credit” (hereinafter referred to as “Credit(s)”) mean any arrangement, however named or described, whereby a bank (the “Issuing Bank”) acting at the request and on the instructions of a customer (the “Applicant”) or on its own behalf，to 跟单信用证和备用信用证（以下统称信用证），意指一项约定，系一家银行（开证行）应客户（申请人）的要求和指示，或以其自身名义，凭规定的单据： provided that the terms and conditions of the credit are complied with.

i.向第三者或其指定人进行付款，或支付或承兑 受益人开立的汇票；或 is to make a payment to or to the order of a third party(the “Beneficiary), or is to accept and pay bills of a customer(the “Applicant”) or on its own behalf; authorizes another bank to effect such payment, or to accept and pay such bills of exchange(Draft(s)), or Authorizes another bank to negotiate, against stipulated documents(s), provided that the terms and conditions of the Credit are complied with. i.向第三者或其指定人进行付款，或支付或承兑 受益人开立的汇票；或 ii.授权另一家银行进行该项付款，或承兑和支付汇票； iii.授权另一家银行议付。 Question Who is the drawee of a draft under a letter of credit?

UCP500 Article 9, A, iv. A credit should not be issued available by Draft(s) on the Applicant. If the Credit nevertheless calls for Draft(s) on the Applicant, banks will consider such Draft(s) as an additional document(s). 开立信用证时，不应以申请人作为汇票付款人。如信用证仍规定汇票付款人为申请人，银行将视此汇票为附加的单据。 Chapter5. L/C

（2）Characteristics of a letter of credit信用证的特点 1）The issuing bank undertakes to effect payment，quite independent of whether the applicant is bankrupt or is in default or not, provided the documents presented are in compliance with the terms and conditions of the credit 信用证是银行信用，由开证行承担第一性付款责任的书面承诺； 2）A letter of credit stands independent of the sales contract.信用证是独立的自足性文件 Chapter5. L/C

（2）Characteristics of a letter of credit信用证的特点 3）Banks deal with documents and not with goods, services or other performances to which the documents may relate.信用证业务处理的对象仅是单据 4）Banks engaged in letter of credit business assumes no responsibility for the form, sufficiency, accuracy, genuineness, falsification or legal effect of any documents presented. 信用证是凭单付款的文件 Chapter5. L/C

（2）Characteristics of a letter of credit信用证的特点 5）Banks dealing letter of credit business assume no responsibility for the acts of third parties taking part in one way or another in the credit transaction .开证银行履行付款责任是有限度和条件的 Chapter5. L/C

信用证适用的国际惯例 《跟单信用证统一惯例》2007年修订本(国际商会第600号出版物)，简称《UCP600》于2007年7月1日正式生效。《UCP600》是一套规则，适用于所有在其文本中明确表示受本惯例约束的跟单信用证(在可适用的范围内，包括备用信用证)。除非信用证明确修改或排除，《UCP600》各条文对信用证所有当事人均具有约束力。 Chapter5. L/C

Trilateral Contractual Arrangement Chapter5. L/C

(3)L/C parities: 一、开证申请人(APPLICANT) 二、受益人(BENEFICIARY) 三、开证行(ISSUING BANK) 四、通知行(ADVISING BANK) 五、付款行(PAYING BANK) 六、议付行(NEGOTIATING BANK) 七、偿付行(REIMBERSING BANK) 八、保兑行(CONFIRMING BANK) 九、承兑行(ACCEPTING BANK) Main parties 基本当事人 指定银行 Nominated Bank

1) Applicant／importer／the buyer申请人 The applicant is always an importer or a buyer, who fills out and signs an application form, requesting the bank to issue a credit in favor of an exporter or a seller abroad.       责任：根据合同申请开立信用证；提供开证押金；及时赎单付款；向受益人付款。       权利：有权取得与信用证相符的单据；有权得到合同有权有权规定的货物。 Chapter5. L/C

2) Beneficiary exporter／the seller受益人 The exporter or the seller in whose favor the credit issued, because such a credit is considered to benefit the exporter by its assurance of payment to him. 责任：按合同发货并提交相符单据；应接受议付行的追索；赔偿进口商的损失。 权利：有权决定是否接受及要求修改信用证；有权向进口商收取货款 Chapter5. L/C

3) Issuing Bank／opening bank／the buyer’s bank开证行 The bank which issues a letter of credit at the request of an applicant. By issuing a credit the issuing bank undertakes full responsibility for payment against proper documents presented by the beneficiary.        责任：根据申请人的要求和指示开立信用证；承担第一性付款责任。        权利：有收取押金或取得质押的权利；有权审单及拒付；有条件的追索权。 Chapter5. L/C

4) Advising Bank(Transmitting Bank) 通知行 Correspondent bank or branch of the issuing bank to whom the letter of credit is routed for transmission to the beneficiary. It has the task of informing the beneficiary that the credit has been issued in his favor so that the beneficiary may make necessary preparation for shipping the goods and drafting the documents stipulated in the credit.       责任：验明信用证的真实性；及时澄清疑点；缮制通知书 Chapter5. L/C

5) Paying Bank付款行: A bank who is authorized by the issuing bank to pay the beneficiary according to the terms and conditions of the credit.    责任：验单付款（或也可按开证行的指示不必验单，只凭议付行单证相符的证明付款）且付款后无追索权。    权利：在开证行资信很差时，付款行有权拒法付 Chapter5. L/C

6) Negotiating Bank议付行 A bank that purchases the documents under the credit．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.    责任：按照信用证中开证行的付款承诺和邀请并根据受益人的要求对单据进行审核，然后议付。    权利：有权向开证行凭正确单据要求偿付；享有追索权。 Chapter5. L/C

7) Reimbursing Bank偿付行： The bank from which the nominated paying bank or any negotiating bank that has made a payment under the credit may obtain reimbursement. It can be the issuing bank itself, or an authorized bank of the issuing bank.往往是代开证行偿付议付行垫款的第三国银行。偿付行与信用证无直接联系，偿付行也不接受单据，不审核单据，不与受益人发生关系。单据正确与否并不构成其偿付的依据。 Chapter5. L/C

8) Confirming Bank保兑行: A bank, usually the advising bank, which adds its undertaking to those of the issuing bank and assumes liability under the credit. 责任：保兑行接受开证行邀请，在信用证上加注保兑后，必须对信用证独立负责，承担必须付款或议付的责任，并与开证行的第一付款责任相同。受益人可以将单据提交给保兑行或其他指定银行，只要单证相符，保兑行就保兑行保兑行应付款、承兑或议付。 权利：有权决定是否对信用证担保；有权决定对信用证的修改部分是否加保；赔付后有权向开证行索偿。 Chapter5. L/C

9）承兑行(ACCEPTING BANK) A usance credit nominates a bank to accept the usance bill, this bank is the accepting bank under the credit. This bank is the drawee bank, when issuing bank dishonor the documents, it has no right of recourse to the beneficiary Chapter5. L/C

Issuing bank Advising bank Applicant Issuing bank Reimbursing bank Confirming bank Advising bank Accepting/ Paying bank Negotiating bank Beneficiary Chapter5. L/C

信用证主要当事人之间的关系 1、开证申请人与受益人—建立在买卖合同基础上的契约关系。 2、开证行与开证申请人—信用证一经开出，开证行与开证申请人之间的契约关系即告成立，开证申请书即表示这一契约关系的书面文件。 3、开证行与通知行—委托代理关系，两者间通常订有业务代理协议。 4、开证行与受益人—开证行一旦以开出不可撤销信用证的形式，向受益人承担对表面合格单据不可推卸的付款责任后，双方之间即产生了事实上的契约关系，其权利与义务建立的基础即信用证条款。 Chapter5. L/C

5、通知行与受益人—通知行与受益人无直接或事实上的契约关系，只是按照开证行的委托，将确认为真实、有效的信用证迅速、准确地通知受益人，而不负除此以外的其他责任。 6、保兑行与开证行—属根据业务代理协议产生的委托代理关系。 7、开证行与议付行—两者关系的确立须依据信用证条款的规定，议付行以汇票及/或单据持有人的身份对开证行主张权利。 8、议付行与受益人—他们之间属票据关系和融资关系。 9、保兑行与受益人—两者之间存在着事实上的契约关系，保兑行与开证行同权同责。 10、开证行与付款行—开证行与付款行之间为业务代理关系。付款行根据两行间的业务协议承担代理付款责任。 Chapter5. L/C

L/C function （一）Facilitates financing the documentary credit 融资: 进出口双方均可在信用证项下获得资金融通 （二）Provides legal protection 保护 保证出口商安全收汇/进口商安全提货 （三）Assures expert examination of documents 审单: 解决了贸易双方互不信任的矛盾。 Chapter5. L/C

Chapter5. L/C

5.2 L/C flow chart Application of Issuing L/C申请开证 → Issue of L/C by Issuing Banks开证 → L/C Delivered by Advising Bank通知 → Shipment of Goods and Presentation of Documents交单 → Negotiation of L/C by Negotiating Banks垫付→寄单 → Documents Examined and Honored by Issuing Banks偿付 → Payment by Applicants付款赎单 申请开证→开证→通知→交单→垫付→寄单→偿付→提交→付款赎单。 Chapter5. L/C

L／C Procedure Exporter Importer ／payer Advising bank Issuing bank 1.S/C 13.goods Exporter 5.goods Importer ／payer Shipping company B/L 12.document 6. Document 2. Application for L／C 4. Notify L／C 10. Make Payment 7. make payment 11. Document bill 9. reimbursement Advising bank Issuing bank 8.documentary bill 3. L／C Chapter5. L/C

step1 Application of Issuing L/C by Applicant The importer’s responsibility is to apply for credit issuance timely, because the importer is bound to make an application of credit to the bank upon the sales contract. The exporter may require to be free from the execution of the contract if the importer does not apply for credit issuance to the bank in time. The importer is also obliged to hand over certain margin to the bank when he applies to issue a credit. Banks will decide the amount of the margin upon the credit worthiness of the importer. Chapter5. L/C

This step includes: 1)The buyer and seller agree on the terms of the sale. 进出口双方就销售条款达成一致意见 ①Specifying a documentary credit as the means of payment; ②Naming an advising bank; ③Listing the required documents. 2)The buyer applies to his bank for the opening of the credit and the security agreement between the applicant and the issuing bank. Chapter5. L/C

IRREVOCABLE DOCUMENTARY CREDIT APPLICATION TO: DATE: □□ □ CREDIT NO. : DATE AND PLACE OF EXPIRY: APPLICANT: BENEFICIARY (FULL NAME AND ADDRESS): ADVISING BANK: AMOUNT: PARTIAL SHIPMENTS □ALLOWED □NOT ALLOWED TRANSSHIPMENT LOADING ON BOARD/DISPATCH/TAKING IN CHARGE AT/FROM NOT LATER THAN FOR TRANSPORTATION TO: □ FOB □CFR □CIF OR □ OTHER TERMS DOCUMENTS REQUIRED: (MARKED WITH X) 1. (　) SIGNED COMMERCIAL INVOICE IN 　 COPIES INDICATING L/C NO. 　　AND CONTRACT NO. 　 　　. 2. ( ) SET OF CLEAN ON BOARD BILLS OF LADING MADE OUT 　 　　, MARKED “FREIGHT [　] TO COLLECT / [ ] PREPAID[ ] SHOWING FREIGHT AMOUNT” NOTIFYING . Chapter5. L/C

(　) AIRWAY BILLS/CARGO RECEIPT/COPY OF RAILWAY BILLS ISSUED BY SHOWING “FREIGHT [ ] TO COLLECT/[ ] PREPAID[ ] INDICATING FREIGHT AMOUNT” AND CONSI- GNED TO . 3. ( ) INSURANCE POLICY/CERTIFICATE IN 　 COPIES FOR 　 % OF THE INVOICE VALUE SHOWING CLAIMS PAYABLE IN CURRENCY OF THE DRAFT, BLANK ENDORSED, COVERING . 4. (　 ) PACKING LIST/WEIGHT MEMO IN 　 COPIES INDICATING QUANTITY, GROSS AND WEIGHTS OF EACH PACKAGE. 5. ( ) CERTIFICATE OF QUANTITY/WEIGHT IN 　 　 COPIES ISSUED BY _____________. 6. (　) CERTIFICATE OF QUALITY IN 　COPIES ISSUED BY [ ] MANUFACTURER/[ ] PUBLIC RECOGNIZED SURVEYOR__________. 7. ( ) CERTIFICATE OF ORIGIN IN 　 COPIES ISSUED BY . 8. (　) BENEFICIARY’S CERTIFIED COPY OF FAX / TELEX DISPATCHED TO THE APPLICANT WITHIN HOURS AFTER SHIPMENT ADVISING OF VESSEL, DATE OF SHIPMENT, NAME, QUANTITY, WEIGHT AND VALUE OF GOODS. OTHER DOCUMENTS, IF ANY: DESCRIPTION OF GOODS: ADDITIONAL INSTRUCTIONS: 1. (　) ALL BANKING CHARGES OUTSIDE THE OPENING BANK ARE FOR BENEFICIARY’S ACCOUNT. 2. (　) DOCUMENTS MUST BE PRESENTED WITHIN 　 　 DAYS AFTER DATE OF ISSUANCE OF THE TRANSPORT DOCUMENTS BUT WITHIN THE VALIDITY OF THIS CREDIT. 3. (　) THIRD PARTY AS SHIPPER IS NOT ACCEPTABLE, SHORT FORM/BLANK BACK B/L IS NOT ACCEPTABLE. 4. (　) ALL DOCUMENTS MUST BE FORWARDED IN________________. 5. (　) OTHER TERMS, IF ANY.

Step 2 Issue of L/C by Issuing Banks The issuing bank will undertake the first-line responsibility of payment once a credit is opened. Thus it must study carefully all the risks concerning the applicant, market and trade. 1. Risks of Credit Issuance (1) Risks of Market (2) Risks of Fraudulence (3) Risks of Clauses 2. Credit Study on Applicants and Trade 3. Check Application Forms Chapter5. L/C

开证前的审查和检验 开证银行在接受申请人的开证申请书之前，开证行要进行开证前的审查和检验，严格把关，谨慎开立信用证，其目的是为了降低潜在的风险。 一般过程如下。 ①审查开证申请书与开证担保书。 ②审查开证申请人的资信状况、目前的经营状况、财务状况以及经济实力和过去是否有不良的信用记录。 ③查验进口开证应当提供的有效证件。各国对进口商品有不同的管理条例。在我国，开证申请人应提供贸易项下的进口付汇核销；对实行进口配额管理或者特定产品进口管理的货物进口，申请人应当持进口许可证或者特定商品进口登记证明；对实行自动登记制的货物进口，申请人持相应的登记文件即可。 ④落实开证保证金。 Chapter5. L/C

Issuing credit When the issuing bank is satisfied that he can open the credit for the beneficiary and the security agreement has been made，he can issue the documentary credit according to the clauses in the application made by the applicant and advise the credit through another bank. Chapter5. L/C

信用证的开证形式： 信用证有信开（open by airmail)和电开(open by teletransmission)两种形式。 信开一般都开立正本一份、副本若干份。开证行将信用证正本用邮寄的方式寄给通知行转交受益人，该信用证正本即为有效文件。 电开信用证就是用电讯方式开立和通知的信用证。电开信用证的具体方式还可以进一步的分为电报方式、电传方式和SWIFT方式。 （1）电报和电传方式下，开证行将信用证内容以加注密押的电报或电传通知出口商所在地的通知行。并且有简电本（Brief Cable）和全电本（Full Cable）。 （2）SWIFT方式下根据“环球同业银行金融电讯协会”(SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION ，缩写S.W.I.F.T.）提供的标准电文格式--MT700/7Ol来开立跟单信用证。 Chapter5. L/C

不可撤销的跟单信用证—— 给受益人的通知(IRREVOCABLE DOCUMENTARY CREDIT(ADVICE FOR THE BENEFICIARY) NUMBER: DATE OF AMENDMENT: PLACE AND DATE OF ISSUE: APPLICANT: ADVISING BANK: REFERENCE NO.: BENEFICIARY: THIS AMENDMENT IS TO BE CONSIDERED AS PART OF THE ABOVE-MENTIONED CREDIT AND MUST BE ATTACHED THERETO. THE ABOVE-MENTIONED CREDIT IS AMENDED AS FOLLOWS: ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED. THE ABOVE-MENTIONED DOCUMENTARY CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS(1993 REVISION, INTERNATIONAL CHAMBER OF COMMERCE, PARIS, FRANCE, PUBLICATION NO.500) PLEASE ADVISE THE BENEFICIARY ___________________________________ NAME AND SIGNATURE OF THE ISSUING BANK ADVISING BANK’S NOTIFICATION 不可撤销跟单信用证格式——给受益人的通知

Step 3 L/C Delivered by Advising Bank A credit may be advised to a beneficiary through another bank (the “advising bank”) or be mailed to him directly without advising. While the advising bank can check the authenticity of the credit through the test key with the issuing bank, the beneficiary is warned that before accepting a credit received by mail directly from the issuing bank, he should obtain verification（确认，证实） from that bank at first to prevent a possible fraudulence(欺诈). Chapter5. L/C

Step 3 L/C Delivered by Advising Bank Advising Bank needs to: ⑴Examine the L/C ⑵Amend the L/C The following numbered steps correspond to the above diagram. ①The seller requests that the buyer make an amendment to the credit. This can be done by a telephone call, a fax, or by face-to-face negotiation. ②If the buyer agrees, he instructs the issuing bank to issue the amendment. ③The issuing bank makes the amendment and notifies the advising bank of the amendment. ④The advising bank notifies the seller of the amendment. ⑶Confirm the L/C Chapter5. L/C

假证有如下特点： (1) 来证无押，而声称由第三家银行来电证实； (2) 装运期与有效期短，迫使受益人仓促发货； (1) 来证无押，而声称由第三家银行来电证实； (2) 装运期与有效期短，迫使受益人仓促发货； (3) 来证要求由受益人提交一份正本提单给申请人； (4) 开立远期信用证，许诺高额利率； (5) 申请人与收货人不在同一国家或地区。 Chapter5. L/C

【案例】盗用第三家银行密押诈骗案 某银行收到一份由加拿大B银行多伦多分行电开信用证，金额50万美元，受益人为我国A公司，指定中国银行为通知行。中行审证时发现： 第一，该证没有加押，仅在来证中注明“本证将由XX银行来电证实”； 第二，该证装运期与有效期为同一天，且为开证后1星期到期； 第三，该证为见票后60天付款，且规定受益人可按年利率收取11%的利息； 第四，来证要求受益人发货后2天内将一份正本提单、发票等用特快寄给开证申请人； 第五，来证电传号不合理； 第六，申请人在加拿大，收货人却在尼日利亚。 Chapter5. L/C

【案例】盗用第三家银行密押诈骗案 因此，中行在通知信用证时加注“印押未核”，并请受益人注意以上不符点，暂缓装运。同时，经北京总行查询后发现加拿大并没有该B银行存在。几天后，中行收到署名“XX”银行的确认电，但电文没有加押证实。中行再向“XX”银行发出确认电，得到答复是“我行从未发出该确认电，本行与开证行无任何往来。”因此，证实这是一起盗用第三家银行密押的诈骗案。 Chapter5. L/C

Step 4 Shipment of Goods and Presentation of Documents The exporter’s liability is to ship goods as required by credit timely after receiving the credit. After shipment, the exporter should complete all the documents carefully and make presentation to the bank on the time and claim reimbursement on bank provided that the documents presented are complied with the terms and conditions of the credit. The exporter should also make correction on the documents if there are any discrepancies（差异，不符合） until the importer accepts them. 出口商收到信用证，经与买卖合同核对无误或同意接受后，即备货装运出口，并将信用证规定的全部单据备齐，签发汇票，连同信用证，一起交送通知行

Step 5 Negotiation of L/C by Negotiating Banks There are two essentials for making negotiation: (1) The negotiating bank should have got authorization from the issuing bank. (2) The authorized（经过授权） negotiating bank will honor（为。。提供信用担保） drafts and/or documents. Therefore, in the case of a non-negotiable credit or unauthorized negotiation or mere examination of the documents without honoring them, none of the relevant banks is a negotiating bank. 通知行或可以办理单据议付的另一家出口地银行收到全部单据，汇票，信用证进行议付。

审核的项目一般包括如下内容 ① 信用证是否属通知行正式通知的有效信用证。 ② 审核信用证的种类。 ③ 审核L/C是否加具保兑 ① 信用证是否属通知行正式通知的有效信用证。 ② 审核信用证的种类。 ③ 审核L/C是否加具保兑 ④ 审核开证申请人和受益人。 ⑤ 审核信用证的支付货币和金额。 ⑥ 审核付款期限和有关货物的内容描述。 ⑦ 审核信用证的到期地点。 ⑧ 审核装运期、转船、分批装运条款和有效期。 ⑨ 审核信用证付款方式和提交的单据。 ⑩ 审核信用证上印就的其他条款和特殊条款。 Chapter5. L/C

案例 出口商A公司与进口商B公司就“金鸡牌”某种货物订立合同，并规定采用信用证结算。但是B公司通过开证行开出的信用证却是“金牌”。A公司未仔细审核信用证就办理了交货，制作了全套单据向出口地银行办理交单议付，单据显示为“金鸡牌”。出口地银行审核单据后予以拒付。你认为拒付是否合理？ Chapter5. L/C

分析： 由于信用证规定是“金牌”，而提交的单据按照合同为“金鸡牌”，单证不符成立，银行拒付有理。 至于“金鸡牌”误为“金牌”，应由买卖双方自行解决。因为信用证是独立于合同的保证文件，不受合同约束。 Chapter5. L/C

拓展分析： 假设本案例中，A出口公司实际装运的是“金鸡牌”，但在单据上显示的是“金牌”。开证行是否会付款？ 如果交单相符，而进口商赎单后发现实际受到的货物不符合合同要求，进口方能否要求开证行退回货款？ 如果开证行误将申请书中的“金鸡牌”开成“金牌”，申请人拒绝付款赎单，开证行能否因此不付款？ Chapter5. L/C

案例分析二 2001年4月份广交会上某公司A与科威特某一老客户B签定合同，客人欲购买A公司的玻璃餐具（名：GLASS WARES），我司报价FOB WENZHOU，温州出运到科威特，海运费到付。合同金额达USD25064.24，共1*40’高柜，支付条件为全额开具信用证付款，客人回国后开信用证到A公司，要求6月份出运货物。

案例分析二 A公司按照合同与信用证的规定在6月份按期出了货，并向银行交单议付，但在审核过程发现2个不符点： （1）发票上：GLASS WARES 错写成GLASSWARES，即没有空格； （2）提单上：提货人一栏，TO THE ORDER OF BURGAN BANK，KUWAIT错写成了TO THE ORDER OF BURGAN BANK。即漏写KUWAIT。

案例分析二 A公司认为这两个是极小的不符点，根本不影响提货。我司本着这一点，又认为客户是老客户，就不符点担保出单了。但A公司很快就接到由议付行转来的拒付通知，银行就以上述两个不符点作为拒付理由拒绝付款。A公司立即与客户取得联系，原因是客户认为到付的运费（USD2275.00）太贵（原来A公司报给客户的是5月份的海运费，到付价大约是USD1950.00，后6月份海运费价格上涨，但客户并不知晓。）拒绝到付运费，因此货物滞留在码头，A公司也无法收到货款。

案例分析二 后来A公司人员进行各方面的协调后，与船公司联系要求降低海运费，船公司将运费降到USD2100.00，客户才勉强接受，到银行付款赎单，A公司被扣了不符点费用。整个解决纠纷过程使得A公司推迟收汇大约20天。

[案例提示] 1．“不符点”没有大小之分 在本案中，A公司事先知道单据存在“不符点”的情况下还是出单，存在潜在的风险。A公司认为十分微小的“不符点”却恰恰成了银行拒付的正当理由。因此，在已知“不符点”的情况下，最好要将其修改。 2．FOB的运费的上涨，与A公司并无关系，因此客户主要是借“不符点”进行讨价还价。

Step 6 Documents Examined and Honored by Issuing Banks When the issuing bank receives the documents sent by the negotiating bank, another nominated（指定的） bank or the beneficiary, it must make an examination according to the principle of its independent judgment and the regulations on credits and documents on: whether or not the expiry date regulated is complied with; whether or not the documents appear on their face to be in compliance with the terms and conditions of the credit and abide by the regulations of UCP500 or 600 common sense, e.g. the relations among documents. 出口地银行（多为议付行）在议付单据后向开证行寄送单据，随附BP通知书（Outward Documentary Bills Purchased Advice),或称出口押汇通知书致开证行，向它凭单索偿，或者寄单给开证行，向偿付行索偿。

③ Presentation of documents Time limit L/C Documents Attention ①Expiry (Validity) date All documents must be presented within the validity of credit. 开证行仅在开证后至有效期内承担付款责任。 ② Latest shipment The date of shipment must on or before the latest shipment date. 货物的装船日必须在信用证规定的最迟装船期之前。（B/L） ③ Presentation of documents All documents must be presented within 21days after the date of shipment. 受益人必须在货物装船后21天交单。（UCP500第43条）

审核的项目一般包括如下内容 ① 信用证是否属通知行正式通知的有效信用证。 ② 审核信用证的种类。 ③ 审核L/C是否加具保兑 ① 信用证是否属通知行正式通知的有效信用证。 ② 审核信用证的种类。 ③ 审核L/C是否加具保兑 ④ 审核开证申请人和受益人。 ⑤ 审核信用证的支付货币和金额。 ⑥ 审核付款期限和有关货物的内容描述。 ⑦ 审核信用证的到期地点。 ⑧ 审核装运期、转船、分批装运条款和有效期。 ⑨ 审核信用证付款方式和提交的单据。 ⑩ 审核信用证上印就的其他条款和特殊条款。 Chapter5. L/C

Step 7 Payment by Applicants When the issuing bank makes a retirement（退还） of documents to him, the importer is also obliged to make an acceptance on the term Bill of Exchange and make payment on its due. Importers will effect payment after careful review on the documents. If there are any discrepancies（不符合） on the documents, importers may reject to pay and return the documents. Importers have right to return goods if the physical quality and quantity of goods are not complied with the sales contract or make claim on exporters even if the payment has been made. 进口商付款赎单后，获取单据得以提取货物。如果发现货物的数量、品质、规格等与合同不符，进口商只能凭合同与出口商交涉，而不能向开证行或议付行要求赔偿。

1. 案例介绍 我国某进口公司A与外国客商B签订了一份合同，采用承兑信用证结算。在信用证有效期内，被指定银行寄来了全套单据。开证行审单后没有发现任何不符点，于是通知A付款赎单，要求其在合理时间内办理相应付款手续。A经多方打听，认为B很有可能欺诈。因此，再三拖延，不予以办理相应付款手续，反而要求开证行予以拒付。在被指定银行的强烈合理要求下，开证行要求A同意付款。A尽管有所顾虑，但仍然办理了付款手续，开证行付款。A凭提单到目的港提取货物后，发现货物与信用证项下严重不符，只好提请仲裁，但最终未收回全部货款。 【案例】信用证伪造单据诈骗案 Chapter5. L/C

本案例的进口商发现了欺诈行为，却无法在合理期限内找到证据，保障自己的权益，使货款脱离了自己的控制，最终陷入到纷繁复杂的法律纠纷当中。 受益人伪造单据进行欺诈，最主要的方式就是利用信用证。信用证一经开出，开证行就必须负起交单相符项下的承款责任。作为进出口公司，应当紧密配合开证行、被指定银行等当事人，最大化己方信息，最小化己方风险。 进口方一旦发现欺诈行为而交单相符的情况下，可以先在合理的时间内申请法院禁付令，禁止开证行对外拒付。在禁付令的有效期内，迅速查明欺诈事实，从而避免开证行最终对外支付，保障自己的权益。 2. 案例分析 Chapter5. L/C

L／C Procedure Exporter Importer ／payer Advising bank Issuing bank 1.S/C 13.goods Exporter 5.goods Importer ／payer Shipping company B/L 12.document 6. Document 2. Application for L／C 4. Notify L／C 10. Make Payment 7. make payment 11. Document bill 9. reimbursement Advising bank Issuing bank 8.documentary bill 3. L／C Chapter5. L/C

5.3 Types of Credit信用证的种类 Chapter5. L/C

可撤销信用证 Revocable Credit 不可撤销信用证 Irrevocable Credit 不可撤销保兑的信用证Irrevocable Confirmed L/C 信 用 证 的 种 类 普通 信用证 不可撤销不保兑的信用证 Irrevocable Unconfirmed L/C 即期付款信用证 Sight Payment Credit 延期付款信用证 Deferred Payment Credit 承兑信用证 Acceptance Credit 议付信用证 Negotiation Credit 可转让信用证 Transferable Credit 特殊 信用证 对背信用证 Back to Back Credit 对开信用证 Reciprocal Credit 循环信用证 Revolving Credit 预支信用证 Anticipatory Credit 备用信用证 Stand-by Credit

Irrevocable credit 不可撤销信用证 (1)Revocable credit v.s. 可撤销信用证 A credit that may be amended or cancelled or revoked by the Issuing Bank without the Beneficiary’s consent and even without prior notice to the Beneficiary A credit that constitutes a definite undertaking of the issuing bank to make payment, it can’t be cancelled/modified without the express consent(同意) of the issuing bank, the confirming bank(if any) and the beneficiary. 是指信用证的开证行有权在信用证开出后不征求收益人的同意随时撤销或修改的信用证。 是指信用证一经开出，在有效期内，非经信用证各有关当事人的同意，开证行不能片面修改或撤销的信用证。

Irrevocable credit 不可撤销信用证 (1)Revocable credit v.s. 可撤销信用证 开证行对受益人的交单并不构成确定的付款承诺。 The revocable credit therefore does not constitute an undertaking by the issuing bank. It involves risks to the beneficiary 受益人缺乏收款保障，在贸易中较少运用。 开证行的责任：开证行的付款责任是第一性的，只要受益人提供相符单据，开证行就必须履行其付款义务， A credit that constitutes a definite undertaking of the issuing bank to make payment 对受益人收取货款比较有保障。 Chapter5. L/C

Irrevocable L/C Function clause: ⑴We (The Issuing Bank) hereby issue in your favor this irrevocable documentary credit that is available by payment／negotiation of your draft. ⑵We hereby engage with you that all drafts drawn in conformity with the terms of this credit will be duly honored on presentation. Chapter5. L/C

(2) Irrevocable Confirmed L/C v.s. 不可撤销保兑的信用证 Irrevocable Unconfirmed L/C 不可撤销不保兑的信用证 It constitutes a definite undertaking of the confirming bank, It does not constitute a definite undertaking of the confirming bank, 定义：开证行的不可撤销跟单信用证被一家通知行予以通知，信用证下面的通知行作为开证行的代理人，除了合理谨慎地核验所通知信用证的表面真实性外，对受益人不承担任何责任。这就是不保兑的不可撤销信用证 根据开证行的授权或要求，另一银行对不可撤销信用证加具保兑，即保证对符合信用证条款规定的单据履行付款责任，则该信用证就是保兑信用证 Chapter5. L/C

(2) Irrevocable Confirmed L/C v.s. 不可撤销保兑的信用证 Irrevocable Unconfirmed L/C 不可撤销不保兑的信用证 不可撤销保兑的信用证给予受益人双重的付款承诺。 《UCP500》指出保兑行与开证行都付第一性的付款责任，但只有当单据在到期日前向保兑行提示，保兑行才履行第一性的付款责任。 即只有开证行承诺付款的信用证。 Chapter5. L/C

Confirmed Irrevocable L/C保兑不可撤销的信用证 Confirmation is only added to an irrevocable credit at the request of the issuing bank. It is used when the seller does not have confidence that the issuing bank can effectively guarantee payment. Therefore, if the issuing bank is considered to be a first class bank，there may not be any need to have its documentary credit confirmed by another bank If the advising bank confirms the credit, it must pay without recourse to the seller when the documents are presented, provided they are in order and the credit requirements are met. Chapter5. L/C

Confirmed Irrevocable L/C保兑不可撤销的信用证 The issuing bank’s authorization clause: ①The advising bank is authorized to add your confirmation. ②Please notify the beneficiary and add your confirmation. ③Please add your confirmation if the beneficiary required. Chapter5. L/C

Confirmed Irrevocable L/C保兑不可撤销的信用证 The confirming bank’s engagement clause: ①At the request of the correspond (Issuing Bank) we (Advising Bank) have been requested to add our confirmation to this credit and we hereby undertake that all drafts drawn by you (Beneficiary) in accordance with the terms of the credit will be duly honored by US. ②At the request of the correspondent bank we confirm the credit and also engage with you that drafts drawn in conformity with the terms of this credit will be paid by US. ③This credit bears our confirmation and we hereby engage to negotiate, or accept on presentation to us, drafts drawn and documents presented in conformity with the terms of this credit. Chapter5. L/C

Confirmed Irrevocable L/C保兑不可撤销的信用证 The confirming bank’s engagement clause: ④We have been requested to add our confirmation to this credit and we hereby undertake to honor all drafts drawn in accordance with the terms of the credit． ⑤Silent confirmation Silent confirmation represents an agreement between a bank and the beneficiary for that bank to “add its confirmation” to the documentary credit despite not being so authorized by the issuing bank. In this case the beneficiary and the advising bank make an independent agreement that adds the bank’s confirmation to the credit for a fee. Chapter5. L/C

(3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C 即期付款信用证（Sight Payment Credit）： A letter of credit calling for payment upon the presentation of the documents either with or without a sight draft. Under such a credit，the beneficiary (the drawer) is entitled to receive payment at once on presentation of his draft to the drawee bank or to the issuing bank 当受益人向信用证所指定的被授权付款的银行提交规定的单据时，该银行审核并确认单据表面合格后，立即付款的信用证。

即期付款信用证（Sight Payment Credit Function clause: (3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C 即期付款信用证（Sight Payment Credit Function clause: ①Available by sight draft drawn on issuing bank against complying documents: ②Payment is to be made upon presentation of the complying documents at the counters of a bank. Chapter5. L/C

承兑信用证（Acceptance Credit）： (3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C 承兑信用证（Acceptance Credit）： A credit available by acceptance, under which a bank specifically nominated therein, is authorized to accept the draft drawn under the credit. 指开证行或付款行在收到符合信用证条款的跟单汇票后予以承兑，于汇票到期日再付款的信用证。 Chapter5. L/C

承兑信用证（Acceptance Credit） (3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C 承兑信用证（Acceptance Credit） The draft there under must be a time bill drawn to the issuing bank, advising bank, or any other drawee bank. 承兑信用证的使用一般建立在进出口双方远期销售合约的基础上。 The purpose of an acceptance credit is to give the importer time to make payment.

承兑信用证（Acceptance Credit） The clause used in the credit is as follows: (3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C 承兑信用证（Acceptance Credit） The clause used in the credit is as follows: “This credit is available by acceptance of your draft drawn on xxx bank.” presentation of the compliance documents, the nominated bank accepts the bill. The bill call be discounted in order to obtain the credit amount immediately. Chapter5. L/C

(3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C Deferred Payment L/C延期付款信用证: The beneficiary does not receive payment when he presents the documents, but at a later date specified in the credit. No draft is required for this credit. 延期付款信用证:指开证行在信用证中规定货物装运后若干天付款或交单后若干天付款的信用证。是一种不用汇票的远期信用证。 Chapter5. L/C

(3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C In economic terms, a deferred payment credit is equivalent to acceptance credit, except that in the absence of a bill of exchange there is no possibility for discounting. However, the undertaking to pay established by a deferred payment credit can on certain conditions be accepted as security for an advance. 延期付款信用证（Deferred Payment Credit) 与承兑信用证几乎一样，只是不用汇票，也不能贴现。但是付款承诺对获取垫款而言更安全。 Chapter5. L/C

延期付款信用证（Deferred Payment Credit） Function clause: (3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C 延期付款信用证（Deferred Payment Credit） Function clause: “Available against presentation of the following documents, but payment only at …days after presentation of documents” or “…payable at…days after bill of lading date”, etc. Chapter5. L/C

议付信用证（Negotiation Credit）， (3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C 议付信用证（Negotiation Credit）， The so-called negotiation is to buy the draft from the beneficiary or to give value for draft and/or documents by the bank to negotiate． In this case the negotiating bank is a holder in due course． Negotiation of drafts and/or documents is with recourse to the beneficiary unless the credit has been confirmed by the negotiating bank． Chapter5. L/C

指开证行指定某一银行或任何银行买入受益人提交的相符单据的信用证。议付信用证分为限制议付信用证和自由议付信用证。 (3)Sight Payment Credit即期L/C Deferred Payment Credit延期付款L/C、 Acceptance Credit承兑L/C 、 Negotiation Credit议付L/C A credit treated as negotiable is either a sight credit or a time credit, for drafts to be drawn on the issuing bank or on any other drawee bank. 指开证行指定某一银行或任何银行买入受益人提交的相符单据的信用证。议付信用证分为限制议付信用证和自由议付信用证。 自由议付信用证（Freely Negotiable L/C）任何银行都可以议付的信用证称为自由议付信用证 Chapter5. L/C

(3)Sight Payment Credit即期L/C Negotiation Credit议付L/C、Acceptance Credit承兑L/C Deferred Payment Credit延期付款L/C kinds items Sight payment Deferred payment Acceptance negotiation restrictive free Bill of exchange Yes/no No Yes Tenor of the bill At sight Usance At sight/usance Drawee Nominated bank Nominated bank Any bank other than negotiating bank Payment time future make payment at sight, minus interest Right of recourse

可撤销信用证 Revocable Credit 不可撤销信用证 Irrevocable Credit 不可撤销保兑的信用证Irrevocable Confirmed L/C 信 用 证 的 种 类 普通 信用证 不可撤销不保兑的信用证 Irrevocable Unconfirmed L/C 即期付款信用证 Sight Payment Credit 延期付款信用证 Deferred Payment Credit 承兑信用证 Acceptance Credit 议付信用证 Negotiation Credit 可转让信用证 Transferable Credit 特殊 信用证 对背信用证 Back to Back Credit 对开信用证 Reciprocal Credit 循环信用证 Revolving Credit 预支信用证 Anticipatory Credit 备用信用证 Stand-by Credit

Special L /C 1.Transferable L/C, 可转让信用证 2.Back-to-back L/C,对背信用证 3.Reciprocal Letter of Credit,对开信用证 4.Revolving letter of credit,循环信用证 5.Anticipatory Letter of Credit,预支信用证 6.Standby L/C，备用信用证 Chapter5. L/C

1.Transferable credit可转让信用证 Non-Transferable Credit不可转让信用证 In the event of a freely negotiable credit, the bank specially authorized in the credit as the transferring bank to make the documentary credit available in whole or in part to one or more other beneficiary(ies ) (second beneficiary). 可转让信用证，指信用证的受益人可以要求指定的转让行将信用证的权利部分或全部地转让给第三者的信用证。 Chapter5. L/C

6.notifytransferring credit 5.Apply for transferring Procedure Ship.co 15.goods 7.Shipping goods Second beneficiary Importer ／payer 1.S/C Exporter 6.notifytransferring credit 2. Application for L／C 8.Deliver documents 5.Apply for transferring 9.Exchange document 13. Make Payment 4. Notify L／C 12. Make payment 12. Make payment 14. Document bill 3. L／C Advising bank1 Issuing bank transferring bank 10.documentary bill 11. reimbursement

Characteristics of Transferable credit: ⑴ A credit can be transferred only if it is expressly designated as “transferable” by the issuing bank. 开证行必须在信用证中注明“可转让”(transferable)，信用证方可转让。其他如“divisible”、 “ transmissible”、 “ assignable”都不能视同可转让。 Chapter5. L/C

Characteristics of Transferable credit: ⑵ A transferable credit can be transferred once. The second beneficiary cannot further transfer. 只能转让一次。但是第二受益人将信用证转回第一受益人不在禁止之列 ⑶The beneficiary hereby irrevocably transfers total  or partial amount of his proceeds under the credit to the undersigned beneficiary. 仅是全部或部分款项的让渡 Chapter5. L/C

Characteristics of Transferable credit: ⑷A transferable credit can be transferred only under the terms stated in the original credit 除少数条款，信用证只能按照原证规定的条款转让 (5) The beneficiary must, at the time of making a request for transfer, and prior to the transfer of the credit, irrevocably instruct whether the transferring bank may advise amendments to the secondary beneficiary.信用证的受益人有权要求转让，并且修改条款。 Chapter5. L/C

Items amended in transferring credit: Options for transfer fights on amendments include full or partial transfer of the credit with: 可转让信用证的新证与原证不同的项目： ①amount 信用证金额。 ②price规定的单价。 ③expiry date信用证的有效期。 ④latest date for documents delivery 最后交单日期。 ⑤time for shipment装运期限。 ⑥insurance ratio投保比例。⑦申请人和受益人也发生变更了. Chapter5. L/C

2.Back-to-back L/C背对背信用证 A back-to-back credit may be used when the credit issued in favor of the exporter(the middleman) is not transferable or though transferable it does not meet his requirements. The exporter, namely, the beneficiary of the first credit, offers it as a security to the advising bank or his banker for the issuance of a second credit. The one being issued on the security of the other. 是指某一信用证的受益人以该证为保证，要求一家银行开立以实际供货商为受益人的信用证。这是一种中间商为保守商业秘密和中介人地位而使用的信用证。

Payment for the price discrepancy Notify exchange documents Procedure Ship.co 20.For goods 8.Shipping goods document Second beneficiary Importer ／payer 1.S/C Exporter 7.Notify New credit 5.Apply for new L/C 14.Exchange document 2. Application for L／C 9.Deliver documents 18. Make Payment 15. Payment for the price discrepancy 4. Notify L／C 13. Notify exchange documents 10. Make payment 19. Document bill 3. L／C 6.Issue new L/C Issuing bank ISB2/Advising bank1 advising Bank2 11.document 16.documents 17. reimbursement 12. reimbursement Chapter5. L/C

Chapter5. L/C

对背信用证与可转让信用证的区别 1、可转让信用证的原证与新证的开证行是同一银行，新证与原证有直接连带关系(换开)；对背信用证的原证与新证的开证行是两家银行，新证和原证是两个独立的信用证。 2、可转让信用证首先必须由开证行在信用证内明确信用证的可转让性质；对背信用证的开证行与新受益人完全是一笔新的业务。 3、可转让信用证的受让人，即新证受益人，与原证受益人居于同等地位，均可获得开证行的付款保证；而对背证的受益人只能得到对背证开证银行的付款保证，而不能获得原证开证行的付款保证。 4、可转让信用证的通知行开出新证后，并不因其开证改变通知行的地位或增加其责任；对背信用证如经过通知行开立，则其地位变为对背证的开证行，承担对新受益人付款的责任。 5、可转让信用证新受益人存在和原开证行和原进口商发生关系的可能性；对背信用证受益人则不可能和原证、原进口商发生直接关系。

3.Revolving credit 循环信用证 One by which, under the terms and conditions thereof, the amount is renewed or reinstated without specific amendments to the documentary credit being required. 根据买卖双方安排开立信用证，允许信用证中不需特别修改，可使用金额就可以恢复，可以循环装运及提示单据。 Chapter5. L/C

3.Revolving credit 循环信用证p81 Periodic revolving 按时间循环 Cumulative revolving 积累循环 金额 可否 积累 Amount revolving 按金额循环 Non-cumulative revolving 非积累循环 恢复方式 Semi -Automatic 半自动循环 Non -Automatic 非自动循环 Automatic revolving 自动循环 Chapter5. L/C

4. Anticipatory Credit 预支信用证p230 是指准许受益人在装货交单之前支取全部或部分货款的信用证。开立预支信用证，由申请开证的进口商要求开证行在信用证上加列预支条款。预支信用证实际上是进口商利用开证行的信用对出口商进行的融资。 预支信用证的一个基本原则是谁垫款谁收取利息；另一个原则是预支款项的损失风险均由进口商承担 Chapter5. L/C

4. Anticipatory Credit 预支信用证p230 Clean payment credit 全部预支信用证 Partial payment in advance credit 部分预支信用证 Chapter5. L/C

5. Reciprocal Credit对开信用证 是用在易货交易中的一种结算方式。 对开信用证用于两批不同商品的换货或易货，进出口双方是这对易货的进口商同时又是出口商，第一张信用证的受益人(出口商)和开证申请人(进口商)同时又是第二张信用证(也称回头证)的开证申请人和受益人。第一张信用证的通知行往往就是回头证的开证行，两证的金额约略相等。 Chapter5. L/C

6. Standby L/C备用信用证 是适应于《跟单信用证统一惯例》的一种特殊形式的信用证，是开证行对受益人承担一项义务的凭证。 在备用信用证中，开证行保证在开证申请人未能履行其应履行的义务时，受益人只要凭备用信用证的规定向开证行开具汇票，并随附开证申请人未履行义务的声明或证明文件即可得到开证行偿付。 Chapter5. L/C

案例分析 2005年2月10日，中国某粮食出口公司电告日本某商贸公司，欲以CIF条件向日本出口一批丝绸，总价款为50万美元，用不可撤销的跟单信用证支付价款。2月16日收到日本商贸公司复电，同意购买，但要求降低到48万美元，中国出口公司于2于19日电告对方同意其要求，日本商贸公司2于20日收到次电报表示同意，随后，出口公司将货物运至上海港，交由中国某远洋运输公司承运，整批货物分装在三个集装箱内。 3月10日承运船舶在公海航行时，由于船员的疏忽，船上发生火灾，出口公司托运的一个集装箱被火焚毁，其余两个则完好无损。3月15日货物运至东京港，但日本商贸公司拒绝接受货物，并向中国出口公司提出索赔，双方诉至上海某法院。

案例分析 请回答： （1）该批粮食的运输保险应由哪一方当事人办理？保险费由哪一方负担？ （2）货物在海上受到损毁，日本商贸公司能否要求中国出口公司给予赔偿？ （3）谁是信用证的受益人？ （4）若交单相符，指定银行是否会按照信用证约定付款？  （5）若信用证款项已被支付，可否向受益人追索？

案例分析 答： （1）运输保险应由卖方中国出口公司办理，保险费也由卖方支付。根据CIF术语，卖方必须办理在运输途中应由买方承担的货物灭失或损坏风险的海运保险。卖方订立保险合同并支付保险费。 （2）美国公司无权要求我国出口公司赔偿货物损失。 （3）中国出口公司为受益人。 （4）若交单相符，指定银行必须按照信用证约定付款  （5）  若信用证款项已被支付，不能向受益人追索。

Chapter 6. Other Methods of Settlement System 其他结算方式

In this chapter, you will learn 6.1 Letter of Guarantee( L/G) p97 6.2 Factoring 6.3 Forfeiting

6.1 Letter of Guarantee( L/G) (1)Definition of Letter of Guarantee A bank guarantee is a written promise issued by a bank at the request of its customer, undertaking to make payment to the beneficiary within the limits of a stated sum of money in the event of default by the principal. 银行保函是银行根据申请人的请求，向受益人开立的、担保履行某项业务的、承担经济赔偿责任的书面承诺文件。

The obligation of L/G 担保人由于委托人未尽其义务或者违约、过失应承担付款或赔款的责任。 Primary obligation/ independent undertaking of payment 第一付款责任或称独立的付款承诺 Secondary obligation/ accessory obligation 第二偿付责任或称从属的付款承诺

The regular obligation of L/G 1992年《见索即付保函统一规则》（Uniform Rules for Demand Guarantee, Publication No.458）简称URDG，明确界定了银行保函独立于基础合同的属性，规定银行承担第一性付款责任

(2)Letter of Guarantee parties 三个基本当事人 申请人（Applicant） 受益人（Beneficiary） 担保行（Guarantor） 还涉及：通知行（Advising）、保兑行（Confirming）、转开行（Reissuing Bank）、反担保人（Counter-guarantor）

(2)Letter of Guarantee parties 三个基本当事人 申请人（Applicant） 受益人（Beneficiary） 担保行（Guarantor） 还涉及：通知行（Advising）、保兑行（Confirming）、转开行（Reissuing Bank）、反担保人（Counter-guarantor） 你公司向银行贷款，另外一个公司为你向银行担保，你再给这个公司作个反担保。这样的文书叫反担保函

（一）Principal委托人 the party to whom the contract has been awarded The principal will be claimed if he is in breach of his obligations． 委托人的权责是： （1）在担保人按照保函规定向受益人付款后，立即偿还担保人垫付的款项。 （2）负担保函项下一切费用及利息。 （3）担保人如果认为需要时，应预支部分或全部押金。

（二）Guarantor担保人 The guarantor is a bank or financial institution that issues a letter to guarantee undertaking to make payment to the beneficiary in the event of default of the principal against the presentation of a written demand and other specified documents. 保函一经开出就有责任按照保函承诺条件，合理审慎地审核提交的包括索赔书在内的所有单据，向受益人付款。 在委托人不能立即偿还担保行已付之款情况下，有权处置押金、抵押品、担保品。如果出之后仍不足抵偿，则担保行有权向委托人追索不足部分。

（三）Beneficiary受益人 Beneficiary is the party in whose favor the guarantee is issued. He is secured against the risk of the principal’s not fulfilling his obligations towards the beneficiary in respect of the underlying transaction for which the demand guarantee is given. 有权按保函的规定出具索款通知或连同其他单据，向担保人索取款项的人

（四）Instructing party指示方 Sometimes, a bank or a financial institution or any other body acts as an instructing party. The instructing party instructs the bank or a financial institution located in the beneficiary’s country to issue a letter of guarantee on behalf of the principal in favor of a specified party named therein. 委托人的往来银行向担保行发出反担保函。

(3)How to issue a Guarantee A direct guarantee occurs when the client authorizes the bank to issue a guarantee directly to the beneficiary 直接担保，又称直开，是指担保银行应委托人的申请，径向受益人开立保函，并凭此直接向受益人承担责任的一种方式。 An indirect guarantee is a guarantee where a second bank is involved. 委托人所在地的银行应其客户的请求以提供反担保的形式来委托另一家银行(通常为受益人所在地的银行，即担保行)代其出具保函，并由后者向受益人承担付款责任的一种方式。

4.Writtien demand for payment &statement of principal’s breach Direct Guarantee Procedure 1.S/C principal Beneficiary 3. L/G 2.Apply L/G 6. Ask for payment 4.Writtien demand for payment &statement of principal’s breach 5.payment Guarantor bank

Indirect Guarantee Procedure 1.S/C principal Beneficiary 2.Apply for L/G 5. Writtien demand for payment &statement of principal’s breach 8. Asking for payment and delivering document 6. make payment 4. L/G 3.Counter-guarantee Instructing bank Guarantor bank 7.Asking for payment and delivering document

Form of Guarantee p103 银行保函的内容主要有： （1）各方当事人的名称和地址； （2）要求开立保函的基础合同； （3）保函的编号、开立日期以及保函的种类； （4）保函的金额及货币名称； （5）保函的有效期和终止到期日； （6）所偿条件； （7）减额条款； （8）其他条款。（包括与保函有关的保兑、修改、撤销及仲裁等内容）

Others guarantees （一）出口类保函 1、投标保函（Tender Guarantee） 。 2、履约保函(Performance Guarantee) 。 3、预付金保函(Advance Payment Guarantee ) 4、保留金保函（Retention Money Guarantee） (二)进口类保函 1、付款保函 (Payment Guarantee) 。 2、补偿贸易进口保函（L/G opened for compensation trade）。 3、加工装配业务进口保函（L/G opened for assembly processing）

银行保函与跟单信用证比较： （1）关于银行信用。保函的开立只是向受益人提供了银行信用担保，是对申请人的商业信用的一种补充；而信用证的开立则是用银行信用取代商业信用。 （2）关于交易合同。如果保函是独立性的，则与信用证一样，其法律效力不依附于交易合同；如果保函是从属性的则不然，其法律效力随交易合同的存在而存在。

银行保函与跟单信用证比较： （3）关于付款责任。信用证下银行是主债务人，承担第一性付款责任。而保函既可以是第一性的，也可能是第二性的。 （4）关于支付依据。信用证下银行处理的是单据，而不是货物事实。如果保函是独立性的，类同；如果保函是从属性的，未履约时，担保行才会赔付。

银行保函与跟单信用证比较： （5）关于单据处理。保函与信用证下对单据的业务处理是相同的，即银行只对所要求单据的表面合格负责，对受益人提交的单据的真伪，以及单据的遗失、延误等概不负责。

保函与备用信用证的比较 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》。

保函与备用信用证的比较 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。

6.2 Factoring (1)Definition of Factoring Factoring is the purchase of claims, arising from sales of goods, by a specially company known as factoring company or factor. 保理(Factoring) 又称保付代理，指由保理商(Factor)向出口商提供保理服务，包括进口商的资信调查，并为相应的信用额度提供付款保证、无追索的资金融通，以及代办托收和财务管理等

国际保理服务已广泛应用于国际贸易，成为国际贸易竞争的一种新手段，在国际结算业务中所占的比例越来越大。 保付代理业务的产生与发展 现代保理业务产生于18世纪的欧洲和美国，主要为坏帐担保、贸易融资。20世纪50-60年代，保理业务取得了长足的发展。 国际保理服务已广泛应用于国际贸易，成为国际贸易竞争的一种新手段，在国际结算业务中所占的比例越来越大。 三大国际性保理服务机构，即国际保理联合会(FCI)、国际保理协会(IF)、哈拉尔海外公司(Heller oversea cooperation)。

(2) Functions 1. Credit approval信用证明 The factor acts as the client’s credit department to evaluate the importer’s credit standing to determine credit line for his client’s customer so that he can exercise the function. If the importer appears not to be a reliable one as a result of this, the factor will not approve this transaction

(2) Functions 2. Credit protection信用控制 By purchasing the client’s accounts receivables without recourse, factoring can protect the clients from risk of the merchandise quality, quantity and terms meet the requirements of sales contract between the client and his customer. However, the client takes full responsibility if the goods are claimed to be defective or any disputes occur concerning the shipment.

(2) Functions 3．Management of accounts receivable销售账户管理 Upon shipment, the client invoices his customer and sends a copy to the factor. The invoice indicates that it is payable to the factor. At maturity of the invoice, the factor will collect payment from the client’s customer. .

(2) Functions 4．Financing贸易融资 The factor may get financing to the client prior to the maturity of the invoice by purchasing the latter’s accounts receivables

保理业务的性质与功能 保理商通常是国际上一些资信良好、实力雄厚的跨国银行的全资附属公司。他们虽然是独立于银行的法人，但又依托于银行，并以银行为后盾。银行的地位、声誉、网络信息和资金等都可以为其所用。 保理业务的功能：信用销售控制(credit control)；债款回收(collection from debtors)；销售账户管理(maintenance of the sales ledger)；贸易融资(trade financing)；坏帐担保(full protection against bad debts)。 保理商实际上向供货商提供了不出现坏帐的担保。

出口保理协议的主要内容： 有效期限；应收账款；核准应收账款与信用销售额度；贸易纠纷；收购价款；债权转让及履约保证；限制条款；协议终止。

3、保付代理业务的类型 (1)根据提供预付款融资与否，分为融资保理或折扣保理(financed factoring)和到期保理(maturity factoring)。前者保理商提供预付款融资；后者则不提供预付款融资，而在赊销到期时才支付。融资保理是比较典型的保理方式。 (2)根据保理商公开与否，分为公开性保理(disclosed factoring)和隐蔽型保理(undisclosed factoring),公开型保理是指出口商必须以书面的形式将保理商的参与通知给进口商，并指示进口商将货款直接付给保理商。隐蔽型保理指保理商的参与对外是保密的，不通知给进口商，货款仍由进口商直接付给出口商，此时融资与有关费用的清算是在保理商和出口商之间进行。目前大多数的国际保理业务都是公开型的。

3、保付代理业务的类型 (3)根据是否保留追索权，分为无追索权保理(non-recourse factoring)和有追索权保理(recourse factoring)。前者指根据保理协定，向出口方提供资金融通以后，放弃对出口方的追索权，进口方拒付或无力支付的风险，全部由保理商自行承担。后者是指如果出口方货物不符合合同规定，进口方到期拒付，则保理商保留追索权利。大多数国际保理业务都是这类无追索权保理。 (4)根据保理运作机制，分为单保理方式、双保理方式，后者涉及买卖双方保理商。实践中，一般都采取双保理方式。

(3) Procedures of factoring 1)Application for credit approval 2)Delivery of goods and making out invoice 3)Payment collection

(3) Procedures of factoring 1)Application for credit approval ①)The sales contract is concluded between the buyer and the seller on open account terms ②The seller applies to a financial institution (usually a bank) for credit—approval. ③The bank acting as a factor makes a credit assessment of the customer/buyer ④The factor agrees to the credit limit/cover.

(3) Procedures of factoring 2)Delivery of goods and making out invoice ①The seller delivers the goods and makes out the invoice to the buyer· ②The seller forwards a copy of invoice to the factor. ③The factor updates the sales ledger. ④The factor generally makes 80％of invoice value available to the seller. ⑤The factor notifies the buyer of the status of the creditor.

(3) Procedures of factoring 3)Payment collection ①The factor performs the collection activity when the invoices fall due. ②The buyer effects payment to the factor. ③The factor updates the sales ledger. ④The factor pays the balance to the seller.

(4) Advantages to exporters 1)The seller gets access to finance linked to his current levels of business.迅速获取融资 2)The seller is in a position to improve the relationship with his suppliers through prompt payment and to extract the optimum terms when making his purchases手续简单 3)Factoring furnishes finance for growth to the seller, without requiring an injection of new equity from external sources or any additional guarantees from the management有利于企业的有价证券上市与进一步融资

(4) Advantages to exporters 4)The seller saves the cost of maintaining his own administrative department.节省管理费用 5)The seller can get assistance from the factor by latter’s providing an assessment of the creditworthiness of the overseas buyers as well as by latter’s offering credit protection and collection service.享受广泛的、综合性服务

(4) Advantages to exporters 6)The seller will increase sales through factors’ knowledge of the market audibility to offer credit lines.通过信贷方式增加销售 7)Open account agreements with the buyer, guaranteed by the factor, are made possible．That is, the factor guarantees the credit risk of the foreign buyer.风险保障

(4) Advantages to exporters 8)Seller’s bad debts will be eliminated. That is to say, all delinquent account receivable risks are eliminated for the exporter and assumed by the factor. 消除卖方呆坏账

国际保理的比较优势： 国际保理与传统结算方式的比较 种类 国际保理 汇付 托收 信用证 项目 债权风险保障 有 无 无 有 种类 国际保理 汇付 托收 信用证 项目 债权风险保障 有 无 无 有 进口商费用 无 有 一般有 有 出口商费用 有 有 有 有 进口商银行 无 无 无 有 抵押 提供进口商 较高 较高 一般 较低 财务灵活性 出口商竞争力 较高 较高 一般 较低

6.3 Forfeiting (1)Definition of Forfeiting Forfeiting is the term generally used to denote the purchase of obligations falling due at some future date, arising from deliveries of goods and services, mostly export transactions, without recourse to any previous holder of the obligation. 指包买商从出口商处无追索权地购买由进口商承诺支付并经进口地银行担保的远期承兑汇票或本票，这样的一种业务活动。

(2)Characteristics 1)The goods involved in forfeiting are usually capital goods 债权凭证(通常适用于资本品)产生于销售货物、技术或劳务的正当贸易； 2)Forfeiting is a medium-term business in the sense that only those maturities from six months to five or six years are to be considered.一种中长期融资业务

(2)Characteristics 3)The purchase of bills of exchange or promissory notes falling due on some future date by a forfeiter is without recourse to any previous holder if the drawee of the draft/maker of the promissory note (importer) fails to pay it at maturity.无追索权条款；

(2)Characteristics 4)Forfeiting is a relatively inexpensive and attractive alterative to other forms of export financing for the exporter.费用相对低廉，而且可为出口商提供资金融通。 5) Any forfeited bill must carry a collateral security in the form of an “aval” or an unconditional and irrevocable bank guarantee acceptable to the forfeiter ensuring the holder thereof that the importer will pay it at maturity银行担保方式（银行保函和背书保证），票据权力转让给包买商

(3)Procedure of Forfeiting 出口商与包买商签订福费廷协议，出口商取得经过担保的延期付款票据，出口商向包买商交单，包买商对远期票据贴现，到期票据的清算。

（3）福费廷的业务流程： 例：中国进出口银行承做福费廷业务的程序附费廷咨询，商务合同，开证申请，开证，通知信用证，发货，福费廷协议，交单议付，请求承兑，承兑汇票，退回承兑汇票，提交福费廷所需单据，付款，到期索偿，付款。

（4）影响福费廷业务的主要因素有： (1)成本，包括贴现率、承担费和宽限期； (2)担保，包括保证付款、银行保函和备用证； (3)贴现率； (4)未付税款与预扣税款； (5)发货日。

（5）对福费廷业务各方当事人的利弊分析 (1)对出口商的利弊分析 利：获得无追索权的贴现收入；风险转移到包买商身上；易于达成融资协议；充分选择权。 弊：出口商必须负责交易、票据及担保的正当与有效，否则不能享受“免除追索”的保障。 (2)对进口商的利弊分析 利：享受分期付款的便利；免受利率风险。 弊：必须申请银行担保，支付担保费用；绝对付款责任。

（5）对福费廷业务各方当事人的利弊分析 (3)对包买商的利弊分析 利：高收益率；融资便利。 弊：无追索权，风险较大；相关法规拒付风险；汇率风险。 (4)对担保人的利弊分析 利：无需核实基础合同；保费收入客观。 弊：对到期票据负有绝对的无条件付款责任；追索成功与否取决于进口商的资信状况。

保付代理(或保理 )业务与包买票据(福费廷)业务的比较： 共性：两种业务都属融资结算业务，而且出口商获得这些融资都可以是无追索权的，只要出口商提供的债权是由正当交易引起的，则信用风险都由保理商和包买商承担。 差异： (1)融资适用的基础交易不同。保理业务主要适用于日常消费品或劳务的交易，金额相对较小，经常性持续交易。而福费廷业务主要针对资本性货物的进出口贸易、金额较大，且业务都是一次性交易。 (2)融资期限不同。保理业务融资期限取决于赊销期限，属于短期贸易融资。而福费廷业务融资期限属于中长期贸易融资。

(3)两类交易对担保的需求不同。保理业务金额小、期限短，保理商承担风险较小，一般不需担保；而福费廷金额大、期限较长，且包买商无追索权，风险较大，必须有第三方担保。 (4)计息方法不同。融资保理的计息是以预付款为本金计算自预付日到预计收款日的利息，是期末利息，其有效利率等于名义利率；而福费廷是按贴现方式计息，是期初利息，其有效利率远高于名义利率。 (5)对出口商而言，利率与汇率风险不同。在融资保理中，出口商一般收到不足80%的预付款，因此尚有部分金额需要承受利率与汇率变动的风险；而在福费廷业务中，出口商可按票面金额获得融资，不承受汇率与利率风险。

Chapter 7. Documents Related to International Settlement 国际结算相关单据

In this chapter, you will learn 7.1 Introduction of Documents 7.2 Checking the Documents

7.1 Introduction of Documents (1)Importance of documents in international settlements 1）Bank pay according to the documents 2）Documents are the evidence for fulfill the contract 3）Documents stands for goods 4）Documents is a precondition of bank join international settlement

商业发票 金融单据 基本单据 运输单据 单据 保险单 商业单据 官方要求的 附属单据 进口商要求的

Road/railway/river bill Shipping documents Commercial invoice Bill of exchange Bill of lading Consular invoice Airway bill Invoice Customs invoice Road/railway/river bill Shipping documents Post parcel receipt Insurance policy Insurance documents Cert. of quality Cert. Of origin Insurance cert. document Cert. of Analysis GSP Cover note Cert. of health Cert. analysis Combined cert. Cert. of sanitary Packing list Cert. of nonaflatoxin Weight meno Cert. of quantity Certificate of inspection Cert. of veterinary Cert. of plant quarantine

(2) Documents list Draft （一）Financial documents Promissory note Check

(2) Documents list Commercial invoice Pro-forma invoice 形式发票 Receipt invoice 收讫发票 Sample invoice 样品发票 Consular invoice 领事发票 Customs invoice 海关发票 Legalized or visaged invoice签证发票

Commercial invoice A commercial invoice is the accounting document by which the seller claims payment from the buyer for the value of the goods and /or service being supplied. 商业发票是记账单据，也是卖方凭以向买方索取提取货物及/或服务价款的单据。

Commercial invoice 商业发票是一笔业务的全面反映，内容包括商品的名称、规格、价格、数量、金额、包装等，同时也是进口商办理进口报关不可缺少的文件，因此商业发票是全套出口单据的核心，在单据制作过程中，其余单据均需参照商业发票缮制。

发票的作用： （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。

The content of Commercial invoice：see ⑵NUMBER AND DATE OF ISSUE编号和签发日期； ⑶ CONTRACT NUMBER OR ORDER NUMBER合同或定单号码； ⑷ CONSIGNEE’S NAME AND ADDRESS收货人名址； ⑸ EXPORTER’S NAME AND ADDRESS出口商名址；

The content of Commercial invoice： ⑹ MEANS OF TRANSPORT AND ROUTE 装运工具及起讫地点； ⑺ COMMODITY，SPECIFICATIONS，QUANTITY，GROSS WEIGHT，NET WEIGHT， ETC 商品名称、规格、数量、重量（毛重、净重）等。 ⑻ PACKING AND MEASUREMENT包装及尺码；

The content of Commercial invoice： ⑼ MARKS AND NUMBERS 唛头及件数； ⑽ UNIT PRICE AND PRICE TERM 价格及价格条件； ⑾ TOTAL AMOUNT总金额； ⑿ SIGNATURE OF MAKER出票人签字等

Commercial Invoice items （一）Heading （二）Body （三）Complementary Clause

COMMERCIAL INVOICE 商业发票 RECEIVER DETAILS (收件人详细资料。请务必准确填写收件人信息；联系电话和人名将有助于加快货物通关速度)

商业发票出具的注意事项 （1）发票应以收货人或提单的被通知人为抬头人。 （２）货物的描述必须与信用证相符。 （３）溢、短装运条款，整批或分批装运条款限制 ±5％ （４）注意正本和副本的要求。 （５）签具发票的人可由出口单位负责办事人员签字，证明人须另由其他人员签字，不能是同一人。

Pro-forma invoice 形式发票 “Proforma”是拉丁文，它的意思是“纯为形式的”，所以单从字面来理解，Proforma Invoice 是指纯为形式的, 无实际意义的发票。这种发票本来是卖方在推销货物时，为了供买方估计进口成本，假定交易已经成立所签发的一种发票。实际上，并没有发出货物的事实，正因为如此，在日本这种发票也被称之为“试算发票”。

Pro-forma invoice 形式发票 形式发票与商业发票不同的是在发票上有“形式”字样。这种发票可以用作邀请买方发出确定的订单。发票上一般注明价格和销售条件，所以一旦买方接受此条件，就能按形式发票内容签定确定合约。

Receipt invoice 收讫发票 原则上先收款后开具发票。开具发票（收据）时，对已收款项应加盖“现金收讫”或“银行收讫”章。

Sample invoice样品发票 样品发票不同于商业发票，只是便于客户了解商品的价值、费用等，便于向市场推销，便于报关取样。 在发送样品时一定要谨慎处理，防止延误或者被海关罚款，这非常重要。如果样品没有附上正确的单据，海关就会指控"走私"，被处以严重的罚款（比如一千美元以上）。

Sample invoice样品发票 1.样品发票应当包括：种类、尺寸、数量、单价及总价。 最重要的是，发票里必须要有下面的内容："样品没有商业价值，仅供报关使用。“ 对于样品，进口方要交税，有时还要缴纳关税。因此样品发票的价格要尽可能低。 根据产品及其尺寸，可以将发票价格标为US$0.10/每件或US$1/每件。这些没有直接价值，但是既然海关不让将发票价格标为＂零＂，因此就报上几分钱的价格。

Consular invoice 领事发票 领事发票（Consular Invoice)是由进口国驻出口国的领事出具的一种特别印就的发票。这种发票证明出口货物的详细情况，为进口国用于防止外国商品的低价倾销，同时可用作进口税计算的依据，有助于货物顺利通过进口国海关。 出具领事发票时，领事馆一般要根据进口货物价值收取一定费用。这种发票主要为拉美国家所采用

Customs invoice海关发票 海关发票（Customs Invoice）是出口商应进口国海关要求出具的一种单据,基本内容同普通的商业发票类似,其格式一般由进口国海关统一制定并提供,主要是用于进口国海关统计、核实原产地、查核进口商品价格的构成等。

海关发票的作用 （１）供进口商报送核查货物与估价征税之用。 （２）提供货物原产地依据。 （３）供进口国海关核查货物在其本国市场的价格，确认是否倾销等。 （４）便于统计。

1.Commercial invoice (1)The commercial invoice is the key accounting document describing the commercial transaction between the buyer and the seller. (2)L/C requires: “Signed commercial Invoice in ___copies indicating L/C No.and Contract No."（一式＿份签字发票，标明信用证号码和合同号码）

Commercial Invoice Examination 1. Ensure that it is issued by the beneficiary. 2. Unless otherwise stipulated in the credit, ensure that it is made out in the name of the applicant. 3. Ensure that it is not titled “Pro-forma” or “provisional” invoice. 4. Ensure that the description of the goods corresponds with the merchandise description in the credit 5. Ensure that no additional detrimental description of the goods appears that may question their condition or value

Commercial Invoice Examination 6. Banks will not accept the notation in the invoice that goods are “used”, “secondhand”, “rebuilt”, or “reconditioned” when not authorized by the credit. 7. Ensure that the details of the goods, prices, and terms as mentioned in the credit are included in the invoice. 8. Ensure that any other information supplied in the invoice, such as marks, numbers, transportation information etc. it is consistent with that of the other documents. 9. Ensure that currency of the invoice is the same as that of the credit. 10. Ensure that the value of the invoice corresponds with that of the draft.

Commercial Invoice Examination 11. Ensure that the value of the invoice corresponds with that of the draft. 12. Ensure that invoice covers the complete shipment as required by the credit if no part shipments are allowed. 13. Ensure that if required by the credit, the invoice is signed, notarized, legalisted, certified, etc. 14. Ensure that the information relative to the shipment, packaging, weight, freight charges, or other related charges corresponds with that appearing on the other documents. 15. Ensure that the correct number of original(s) copy(ies) is presented.

(2) Documents list Insurance policy保险单，大保单 Insurance certificate保险凭证，小保单 （三）Insurance document Cover note暂保单 Combined certificate联合凭证

Insurance document An insurance document is a contract whereby the insurer (insurance company) undertakes to indemnify the assured in a manner and to the extent thereby agreed，against certain losses，that is to say，the losses incidental to carriage“adventure”．

Insurance document It is a document indicating the type and amount of insurance coverage in force on a particular shipment．Used to assure the consignee that insurance is provided to cover loss of or damage to cargo while in transmit

insurance document includes： In documentary credit transactions it includes the following elements： (1)Appears on its face to be issued and signed by an insurance carrier，underwriter or agent for same； (2)Covers the risks specified in the documentary credit； (3)Indication that the coverage is effective at the latest from the date of loading of the goods on board a transport document(bill of lading，etc)； (4)Specifies coverage for at least 110％ of either．

insurance document includes： (5)It is presented as the sole original，or if issued in more than one original，all the originals； (6) The insurance currency should be consistent with the currency of the documentary credit．

Insurance Documents Kinds Insurance Policy, Insurance Certificate, Combined Insurance Certificate Risk Note

Insurance policy保险单，大保单 它是保险人和被保险人之间成立保险合同关系的正式凭证，因险别的内容和形式有所不同，海上保险最常用的形式有船舶保险单、货物保险单、运费保险单、船舶所有人责任保险单等。其内容除载明被保险人、保险标的（如是货物段填明数量及标志）、运输工具、险别、起讫地点、保险期限、保险价值和保险金额等项目外，还附有关保险人责任范围以及保险人和被保险人的权利和义务等方面的详细条款。

Insurance policy保险单，大保单 如当事人双方对保险单上所规定的权利和义务需要增补或删减时，可在保险单上加贴条款或加注字句。保险单是被保险人向保险人索赔或对保险人上诉的正式文件，也是保险人理赔的主要依据。保险单可转让，通常是被保险人向银行进行押汇的单证之一。在CIF合同中，保险单是卖方必须向买方提供的单据。

Insurance certificate保险凭证，小保单 它是保险人签发给被保险人，证明货物已经投保和保险合同已经生效的文件。证上对保险条款做了简略，对背面条件不做详细记载，表明按照本保险人的正式保险单上所载的条款办理。保险凭证具有与保险单同等的效力。保险证明一般需要投保人会签生效，适用ISBP184款

Combined certificate联合凭证 是一种更为简化的保险凭证。在我国，保险机构在外贸企业的商业发票上加注保险编号、险别、金额，并加盖保险机构印戳，即作为承保凭证，其余项目以发票所列为准。此种凭证不能转让，目前只适用于香港地区一些中资银行由华商开来的信用证。

Cover note暂保单 暂保单又称 “ 临时保险书 ” ，保险单或保险凭证签发之前，保险人发出的临时单证。暂保单的内容较为简单，仅表明投保人已经办理了保险手续，并等待保险人出立正式保险单。 暂保单不是订立保险合同的必经程序，使用暂保单一般有以下三种情况：（1）保险代理人在争取到业务时，还未向保险人办妥保险单手续之前，给被保险人的一种证明；（2）保险公司的分支机构，在接受投保后，还未获得总公司的批准之前，先出立的保障证明；（3）在洽订或续订保险合同时，订约双方还有一些条件需商讨，在没有完全谈妥之前，先由保险人出具给被保险人的一种保障证明。 暂保单具有和正式保险单同等的法律效力，但一般暂保单的有效期不长，通常不超过30天。当正式保险单出立后，暂保单就自动失效。如果保险人最后考虑不出立保险单时，也可以终止暂保单的效力，但必须提前通知投保人。

Cover note暂保单 暂保单是保险人在出立正式保险单之前签发的证明保险人已同意给予投保人以保险保障的一种临时凭证。保险人在同投保人商订保险合同中接受投保的原则意和已定，但还有一些条件尚未完全谈妥，一般就使用这种凭证。如果洽商不能达成协议，暂保单可以取消。达成协议，可签发正式保险单代替暂保单。有效期一般为1个月，正式出立保单后即自动失效。如保险人事前通知，也可提前终止效力。

Loss of insurance (1) based on the reasons natural disaster accident common external reason specific external reason (2)Based on the degrees of losses total loss: actual loss/ constructive推定 total loss partial loss: general average共同海损/particular average单独海损

Insurance coverage (1)basic insurance 基本险： marine risks: Overland transportation risks Air transportation risks Parcel post risks (2) common extraneous risks (3)special extraneous risks

The transfer of insurance documents Blank endorsement Nominated endorsement How to make those endorsement? See p372

3.Insurance documents (1)An insurance document is a contract whereby the insurer (insurance company) undertakes to indemnify the assured in a manner and to the extent thereby agreed，against certain losses． (2)L/C requires: "Insurance Policy/Certificate in ___copies for ____% of the invoice value showing claims payable in ____in currency of the draft,blank endorsed,covering ______________.

Insurance Documents Examination (1)Is the insurance document issued and signed by an insurance company，underwriter，or their agent? (2)Is it the correct type of the insurance document as stated in the credit? (3)Has the document covered all the risks stipulated in the credit? (4)Does the document cover the full period of transit? (5)Is the information in the insurance document concerning mode of transport and transport mute consistent with the documentary credit?

Insurance Documents Examination (6)Is the currency of the insurance document the same as that shown in the credit? (7)Is the percentage of the insurance the same as specified in the credit? (8)Is the merchandise description consistent with that shown in the credit? (9)Are the transport details the same as stated in the credit(the vessel, the port of loading, port of destination，buyer’s premises)? (10)If endorsement is required，is the document properly endorsed? (11)Is the full set of insurance documents presented?

(2) Documents list Marine／Ocean bill of lading Non—negotiable ocean waybill （四）Shipping documents Railway bill Road waybill Air waybill Post parcel receipt Combined／multi—modal transport document

UCP500 有关运输单据规定 第23条 港至港海运提单 第24条 不可流通的海运提单 第25条 租船合约提单 第26条 多式运输提单 第23条 港至港海运提单 第24条 不可流通的海运提单 第25条 租船合约提单 第26条 多式运输提单 第27条 空运单据 第28条 公路、铁路或内河运输单据 第29条 专递和邮政收据

一、Marine／Ocean bill of lading port to port B/L Functions: 1.Receipt for goods shipped 是提单承运人出具的已经装船的货物收据 2.Evidence of the contract of carriage 是承运人和托运人之间订立的运输合约的证据 3.Document of title 是物权凭证

注意： 1.提单的转让可以通过背书和交付转让。 而且只能是货物在途时才可转让。货物到达目的港，承运人开始交货时，提单就不能转让了。 2.海运提单能够控制货物，申请人需出示正本提单才可交付货物 3. 出售在途货物只需采用转让海运提单即可完成

The marine bill of lading contains the following key elements: (1)Name of carrier with a signature identified as that of carrier, or ship’s master, or agent for or on behalf of either the carrier or ship’s master. (2)An indication or notation that the goods have been loaded “on board”or shipped on a named vessel. Also, the date of issuance or date of loading. (3)An indication of the port of loading and the port of discharge as specified in the original documentary credit.

The marine bill of lading contains the following key elements: (4)A sole original, or if issued in multiple originals, the full set of originals. (5)The terms and conditions of carriage or a reference to the terms and conditions of carriage in another source or document.

提单的背书和转让 物权单据可以流通转让，而非物权单据无法流通转让。 非物权单据——一般都是货交制定人： Ex, consigned to a specified person, unto a specified person.

Non—negotiable sea waybill 1.不是物权凭证，不能背书转让 2.只能由专人提货 3.不需提示单据，即可领取货物 4.银行不能取得货物控制权，对银行债权无保障。

可流通转让形式的提单及其流转 1. to bearer 来人抬头 2. to xx’s order—— unto order of issuing bank/applicant/shipper 3. negotiable named consignee B/L提单必须经过背书交付，才能完成转让行为。

可流通转让形式的提单及其流转 具体要求以何种背书方式转让需要根据要求作出特别处理。如： B/L drawn to the order of xxx and (1)blank endorsed (2) endorsed to the order of xxx bank (3) endorsed in favour of the issuing bank (4) endorsed to xxx

提单正面的六个运输项目： Pre-carriage by前段运输 Place of receipt/place of taking in charge收货地或接受监管地 Vessel 船只 Port of loading 装货港 Place of delivery/place of final destination交货地或最终目的地

提单必须签字才具有法律效力 对提单签字人的要求： 提单证明必须注明承运人的名称，对提单必须有承运人、代理人或船长的签字 See283 具体样式见p284-285 承运人、代理人、船长、代理船长如何签字？

海运提单的正本 一般有三分正本“original”，其他为副本如“duplicate”、“triblicate”等都不视为正本 第一正本——直接寄给申请人是否合适？ 第二正本——直接寄给议付行

Clean/Dirty B/L 清洁运输单据就是指未载有明确宣称货物及/或包装状况有缺陷的条文或批注的单据。 不清洁的运输单据的意义相反，一般银行将不接受载有此类条文或批注的运输单据。 不清洁的具体项目包括：see p297

L/C requires： “Full set of clean on board Bill of lading made out toorderwith blank endorsed,marked with “Freight prepaid /paid /to collect,notifying_” （全套的、清洁的、已装船提单，空白抬头 、空白背书，写明运费预付／已付，被通知人为ＸＸＸ）

4. Checking list for the B/L (1) Ensure that the full set of originals issued is presented. (2) Ensure that it is not a claret party transport document unless authorized in the credit. (3) Ensure that it is not a forwarder’s transport documents unless it is authorized in the credit under UCP500 Article 30. (4) Ensure that the name of the consignee is as required in the credit.

5. Ensure that if the transport document requires endorsement, it is appropriately endorsed. 6. Ensure that it bears the name of the shipper or his agent. 7. Ensure that the name and address, if any, of the notifying party is as required in the credit. 8. Ensure that the description of the goods generally corresponds to the description of the goods as stated in the credit and that the marks and numbers as well another specifications, if any, are identical to those appearing on the other documents.

9. Ensure that the indication of “freight prepaid” or “freight collect” as required by the terms of the credit appears on it. 10. Ensure that there are no clauses on the transport document that may render it “foul” or “unclear”. 11. Ensure that all other conditions stipulated in the appropriate transport Ariticles of UCP500 are complied with.

Combined／multi—modal transport document多式运输 单一的，至少采用两种不同运输方式运输货物的合约。 Port to port 港至港 Door to door 仓至仓 FCL—— Full Container Load 整箱货 CY——Container Yard运往集装箱堆场 CFS——Container Freight Station 集装箱货运站 LFCL—— Less than a Full Container Load 拼箱货

Combined／multi—modal transport document多式运输 它可以以可流通形式发出，特点是可以背书转让物权，凭一张正本单据交货。 也可以以不可流通形式发出，注明指定的收货人，特点是布提交正本单据，交货人需证明身份，不能背书转让单据。 一般，陆海两种运输方式联合运输单据以可流通方式发出 一旦包含空运方式，即必须以不可流通方式发出。

Cargo receipt／Railway bill货运收据／铁路运输单 When the goods are dispatched by rai1way, a cargo receipt or a railway bill may be issued. A cargo receipt is not a document of title, just an acknowledgement of receipt of goods for dispatch, so it is non-negotiable.

A cargo receipt contains the following elements: (1)Date of issue; (2)Name and address of sender and consignee; (3)Name of the originating railway station/place designated for delivery; (4)Ordinary description of goods and method of packing and，in the case of dangerous goods，its generally recognized description; (5)Gross weight of goods or its quantity; (6)Carriage charges;

Air waybill (AWB) 提交银行正本单据 不是可流通的单据 不能控制买方付款 必须作成记名收货人

Air waybill (AWB) 空运单据一式正本3张，副本9张 第1张正本——发给发出承运人 第2张正本——发给收货人 第3张正本——发给发货人 第1张副本——交货收据 第2张副本——发给目的地航空港 第3张副本——发给第三承运人

Air waybill (AWB) 空运单据一式正本3张，副本9张 第4张副本——发给第二承运人 第5张副本——发给第一承运人 第6张副本——发给销售代理人 第7张副本——额外副本 第8张副本——发票 第9张副本——发运地航空港

Courier receipt快邮收据 & Post parcel receipt邮包收据 A courier receipt is a document issued by a courier or expedited delivery service evidencing receipt of goods for delivery to a named consignee. A post receipt is a document issued by the postal service of a country evidencing receipt of goods for delivery to a named consignee

Courier receipt快邮收据 & Post parcel receipt邮包收据 courier receipts should include the following elements： (1)Appears on its face to the issuer; (2)Appears on its face to be stamped, signed, or authenticated by the service; (3)Name and address of the shipper(seller); (4)Name and address of the consignee(buyer); (5)The date of pick up or receipt of the goods by the service; (6)Meets any other stipulations of the documentary credit.

(2) Documents list Certificate of origin Health certificate (五)Miscellaneous documents Certificate of inspection Export／import license Packing list Weight list

Items of Certificate of Origin a certificate of origin should include the following elements： (1) Key details (typically consignor, consignee, and description of goods) regarding the Shipment. Also, such details to be in conformity with other documents(e.g. Documentary Credit, commercial invoice) (2) A statement of origin of the goods (3)The signature and／or stamp or seal of the certifying authority

Checklist for the Certificate of Origin 1. Ensure that it is a unique document and not combined with other document. 2. Ensure that it signed, notarized, legalized, visaged as required by the credit. 3. Ensure that the data on it is consistent with that of the other documents. 4. Ensure that the country of origin is specified, and that it meets the requirements of the credit.

Packing list A packing list is a document prepared by the shipper listing the kinds and quantities of merchandise in a particular shipment． The packing list should include the following elements. (1)Name and address of seller (2)Name and address of buyer (3)Date of issuance

Packing list (4)Invoice number (5)Order or contract number (6)Quantity and description of the goods (7)Shipping details including: weight of the goods, number of packages, and shipping marks and numbers (8)Quantity and description of contents of each package，carton，crate or container (9)Any other information aS required in the documentary credit (e.g. country of origin)

Packing list checklist for the packing list. 1. Ensure that it is a unique document and not combined with any other documents. 2. Ensure that it corresponds with the requirements of the credit. A detailed packing list requires a listing of the contents of each package, carton, etc. and other relevant information. 3. Ensure that the data on it is consistent with that of the other documents.

Export/import licenses Certain elements likely to be included in: (1)Name and address of seller; (2)Name and address of buyer; (3)Date of issuance; (4)Validity date; (5)Description of goods covered by license; (6)Name of country of origin; (7)Name of country of ultimate destination

7.2 Checking the document 审单

The date of issuance of documents The actual date of shipment Usually the negotiation date certificates Presentation date L/C Date Commercial invoice Insurance documents Bill of lading Bill of exchange L/C expiry The latest date of issuance of the documents May prior to the date of issuance of L/C Prior to the date of shipment

Methods of checking the documents Credit UCP500 invoice Bill of exchange All documents must be complied with each other Commercial invoice Credit Cert. Of Origin 横审 Certificate of inspection 纵 审 Insurance documents All documents must be complied with the L/C Bill of lading

General Rules for Handling Documents （一）Ambiguity as to issuers of documents According to the UCP Rules, if terms such as “first class”, “well known”, “qualified”, “independent”, “official”, “competent” or “local” used in a documentary credit to refer to the issuer of fl required document, banks are authorized to accept whatever documents that are presented, provided that they appear on the face to be in compliance with the credit and were not issued by the seller(beneficiary).

General Rules for Handling Documents （二）Originals The originals of specified documents should be provided unless copies are called for or allowed. If more than one originals are required, the buyer should specify in the credit how many are necessary. Unless otherwise noted in the credit, banks are authorized to accept documents as originals, even if they were produced or appear to have been produced on a copy machine, by a computer system, provided they have the notation “original” and are, when necessary, signed.

General Rules for Handling Documents （三）Authentication Banks are not responsible for the verification of the certification or authorized signature. Certificates must usually bear the signature of the issuer. Unless otherwise stipulated in the Credit, banks are authorized to accept documents that appear to satisfy the requirement.

General Rules for Handling Documents （四）Signature Banks are authorized to accept documents that have been signed by facsimile, perforated signature, stamp, symbol, or any other mechanical or electronic method.

General Rules for Handling Documents （五）Unspecified issuers or contents of documents If the credit does not nanle a specific content of a document (other than transport documents, insurance documents, and commercial invoice), banks are authorized to accept documents as presented so long as the data contained in the documents are consistent with the credit and other stipulated documents.

General Rules for Handling Documents （六）Issuance date Unless otherwise noted in the documentary credit, banks are authorized to accept documents dated prior to the issuance date of the credit. So long as all other terms of the credit are complied with.

Chapter 8. International non-trade Finances 国际非贸易结算融资

In this chapter, you will learn 8.1 Non-trade Settlement 8.2 Overseas Chinese Remittance侨汇 8.3 Exchange of Foreign Bank Notes外币兑换业务 8.4 Traveller’s Cheque旅行支票 8.5 Other non-trade Exchange methods其他非贸易外汇业务

8.1 Non-trade Settlement (1)Definition of Non-trade Settlement There are many ways by which funds can be transferred from one country to another under trade service. 非贸易结算(Non-trade Settlement)是指由无形贸易(Invisible Trade)引起的国际货币收支和国际债权债务的结算。 无形贸易结算是指由国际运输、金融、保险等劳务或服务引起的跨国收支。

(2) Non-trade Settlement items （一） 私人海外汇款 （二） 铁路运输收支 （三） 海运收支 （四） 航空运输收支 （五） 邮电收支 （六） 银行收支 （七） 保险收支 （八） 图书、影片、邮票收支

(2) Non-trade Settlement items ( 九） 外轮代理和服务收入 （十） 外币收兑 （十一）兑换国内居民外汇 （十二）旅游部门外汇收入 （十三）经费外汇收支 （十四）企业利润收支 （十五）其他外汇收支

(3) Characteristics （一）相对于贸易外汇收支而言，非贸易外汇收支的特点为范围广泛、内容庞杂，项目繁多，金额较低 （二）结算方式多样、灵活。非贸易外汇的收支主要是通过非贸易汇款、外币兑换、旅行支票、旅游信用证、信用卡、光票托收等方式进行结算。

8.2 Overseas Chinese Remittance侨汇 侨汇解付的主要方式有信汇、电汇、票汇和约期汇款等

Receipt dealing 信汇、电汇全套汇款收条一般都有正、副收条、汇款证明书和汇款通知书一式四联。 正收条（Original Receipt）应在解讫侨汇后，及时寄还汇出行，等候汇款人领取，以清手续。副收条（Duplicate Receipt）是解付侨汇后，银行留存的主要凭证。 正、副收条上都应有收款人签章、现金付讫章和解付日期章。 汇款证明书是解付侨汇时，交给收款人持有的一联，凭以查对收款金额。 汇款通知书有收款人的详细地址，以便通知收款人取款，它是解付侨汇的依据。

侨汇的转汇及解付的处理手续 1、侨汇的转汇。侨汇的转汇是指当汇入行收到侨汇后，收款人在外地需要办理转汇，可委托收款人所在地银行办理解付。侨汇的转汇均应以外币进行，解付后也应以外币划帐。 2、解付时的处理手续。解付行收到转汇行寄来的侨汇转汇委托书及附件，应先核对印鉴、密押，再根据转汇委托书逐笔与附件核对，按照规定手续办理解付。 解讫的正收条和通知书上应加盖解付行付讫日期，随附报单寄转汇行。副收条由解付行留作传票附件或另外保管。 3、转汇行收到解付行报单处理手续。转汇行收到解付行的联行报单及所附的解讫侨汇正收条及通知书，经核对无误后，逐笔抽销信汇委托书办理转帐。

8.3 Exchange of Foreign Bank Notes外币兑换业务

外币兑换的程序 1、兑入外币 凡属国家外汇管理局“外钞收兑牌价表”上所列的各种外币，银行经查验顾客的护照或身份证后办理收兑。银行将按当天外钞买入价折算成人民币，填写一式四联的“外币兑换水单”，收点外钞和支付人民币。

外币兑换的程序 2、兑出外币 银行对境外单位或个人要求兑出外币，应查验护照或身份证及原外币兑换水单，在有效期内（从兑入外币之日起6个月内），按不超过原兑换水单上的金额兑换。收回的原兑换水单，加盖“已退回”戳记，作为外汇买卖传票的附件。最后还应在顾客的海关申报单的外币登记栏中写明，以便海关检查放行。 对于批准出国人员申请兑换外币，银行应根据外汇管理部门在“非贸易外汇申请书”上批准的金额办理。办理兑出手续时，应缮制“外币兑换水单”一式四联，根据当天外钞买出价兑付

8.4 Traveller’s Cheque旅行支票 旅行支票具有以下特点： 1、面额固定、多样。 2、兑取方便。 3、携带安全。 4、挂失补偿。

旅行支票的关系人 1、出票人：是指发行旅行支票的银行或专业机构。由于旅行支票是以出票人为付款人的支付凭证，因此出票人即为付款人，它的签章预先印在票面上。 2、发售人：是指出售或代售旅行支票的银行或旅行社等代理机构。 3、持票人：是购买或持有旅行支票的人，并已在旅行支票上进行了初签。 4、兑付人：是指事先已与出票人签订代付协议的机构。 5、受让人：接受旅行支票的服务部门即为支票的受让人。

旅行支票的出售和代售 游客购买旅行支票时，填写的购买申请书上要写明：购买哪家银行发行的旅行支票、购买者姓名、地址、购买张数、货币种类、面额及总金额、购买日期等。出售机构经审核无误、收妥款项后，按规定请其在每张旅行支票的“初签栏”签名，以便兑付时与“复签栏”的签名核对。若购买者用本国货币购买外币旅行支票，按当天外汇牌价的卖出价折算。

旅行支票的兑付 兑付旅行支票时，应注意以下几点： 1、识别旅行支票的真伪。 2、审核支付范围，有效期限。 3、核对初签和复签。 4、审查转让。 旅行支票分可转让（Negotiable）和不可转让（Non-negotiable）两种。对不可转让支票，只能由原购票人在兑付时当面复签，确认复签真实后，可予兑付。对可转让支票，原购票人在转让时是对受让人当面复签，并填上受让人姓名，然后受让人到银行在支票背面背书领取票款。 5、收取贴息和收回垫款。

8.5 Other non-trade Exchange methods其他非贸易外汇业务 (1)Traveller’s Letter of Credit (2)Credit Card

The end, thank you!