国际支付与结算国际支付与结算International Payments and Settlement主要参考书：国际结算第五版，苏宗祥等编著，中国金融出版社出版与上述教材配套的英文版练习册课程公共邮箱： 密码：123456本课程的主要特点实践性强英语要求高法律性强，规则细本课程使用双语教学双语教学确切指中英文同时进行，而不是英文教学。双语教学应该介入到何种程度专业词汇全部用英语部分固定的表达句式用英语掌握几大类重要文本。要求同学们掌握英文版本的国际贸易合同、信用证文本、托收指示、合约保函示范格式、汇票等商业票据、提单等商业单据。要求同学们课外通读：UCP600,URR525,URC522,ISP98,URDG，ISBP。熟记常用银行、港口英文名称。掌握部分常用缩写。外汇政策管理规定与相关国际惯例托收统一规则 Uniform Rules for Collections （ ICC Publication No. 522）跟单信用证统一惯例（Uniform Customs and Practice for Documentary Credits，2007年修订本，国际商会第600号出版物，简称“UCP 600”）关于审核跟单信用证项下单据国际标准银行实务（International Standard Banking Practice for the Examination of Documents under Documentary Credits，国际商会第681号出版物，简称“ISBP”）银行间偿付统一规则（Uniform Rules for Bank-to-bank Reimbursement under Documentary Credits，国际商会第525号出版物，简称“URR 525”）国际备用证惯例（International Standby Practices，国际商会第590号出版物，简称“ISP98”）见索即付保函统一规则 UNIFORM RULES FOR DEMAND GUARANTEES (ICC PUBLICATION NO.458)联合国独立担保和备用信用证公约 UNITED NATIONS ON INDEPENDENT GUARANTEES AND STAND-BY LETTERS OF CREDIT 最新修订的国际惯例UCP 600 (2007年7月1日施行) GRIF 国际保理业务通用规则 (2009年7月修订) ISBP 681 审核跟单信用证项下单据的国际标准银行实务 (2007年7月1日施行)2010年国际贸易术语解释通则 缩写Incoterms 2010 ,是国际商会根据国际货物贸易的发展，对2000年国际贸易术语解释通则的修订，2010年9月27日公布，于2011年1月1日实施。 周次周次周学时周学时主要教学内容主要教学内容习题习题课或实验课内容课或实验课内容12C1,Briefintroductiontointernationaltrade22C1,Briefintroductiontointernationaltrade32C2,Introductiontointernationalpaymentsandsettlements42C3,Creditinstruments52C3,Creditinstruments62C3,Creditinstruments72C4,Internationalbankremittance82C5,Collection92C5,Collection102C6,LetterofCredit112C6,LetterofCredit122C6,LetterofCredit132C7,L/Cpractice142C7,L/Cpractice152C8,Documentsunderthecredit162C8,Documentsunderthecredit172C9,InternationalfactoringandForfeitingC10,LetterofGuarantee182ReviewChapter 1 Brief Introduction to International Trade国际贸易简介Definition of International Payments and SettlementsInternational payments and settlements refer to the money transfer via banks to settle accounts, debts and claims among different countries. They are originated from both international trade transactions such as the sales of tangible goods and intangible service transactions and international non-trade transactions such as international lendings and investments.1.1 Introduction to International Trade 国际贸易概述国际贸易概述1.2 Trade Terms 贸易术语贸易术语1.3 Basic Methods of International Payments and Settlements 国际支国际支付与结算的主要方式付与结算的主要方式1.1 Introduction to International Trade1.1.1 Definition of international trade? International trade is the exchange of goods and services produced in one country for those produced in another country. 国际贸易是以一国的产品和劳务交换另一国的产品和劳务。通常情况下，国与国之间并不直接用产品和劳务相交换，而是以销售产品所得的收入来购买另一国的产品。1.1.2 The major participants in international trade The buyer; The seller; Banks国际贸易流程1. 1.管理制度管理制度2.2.申请批件申请批件 3.3.交易选择交易选择 4.4.商务谈判商务谈判 5.5.签订合同签订合同 6.6.银银行行买买汇汇，开开（受受）信用证信用证 7.7.购买保险购买保险8. .安排海运安排海运 9.9.商检商检10.10.报关报关11.11.运输仓储运输仓储12.12.付汇核销付汇核销13.13.出口退税出口退税 安排海运安排海运我国主要海运线与沿线重要港口我国主要海运线与沿线重要港口香港航线：世界上最先进的葵涌集装箱码头主要经营的海运公司：美商海陆联运公司（Sea land Service Inc.);美国总统轮船公司(American President Lines-APL);日本邮船公司（Nippon Yusen Kaisha-NYK);川崎汽船株式会社(Kawasaki Kisen Kaiska Line)COSCO中国远洋运输公司（China Ocean Shipping Company)日本航线：神户(Kobe); 大阪(Osaka); 名古屋(Nagoya);横滨(Yokohama)等四大码头;还有东京(Tokyo).是我国最重要的对外贸易国，也是我国去北美航线的重要中转地东南亚航线:马尼拉(Manila); 新加坡(Singapore);巴生港(Port Kelang)；马六甲(Malacca); 雅加达(Jakarta).澳新航线：奥克兰(Auckland);惠灵顿(Wellington);布里斯班(Brisbane);墨尔本(Melbourne) ;悉尼(Sydney).印度洋航线:印度的加尔各答(Calcutta)，孟加拉的吉大港(Chittagong)，缅甸的仰光(Rangoon)，斯里兰卡的科伦坡(Colombo)，印度的孟买(Bombay)，德里(Delhi)，巴基斯坦的卡拉奇(Karachi)。波斯湾红海航线：阿联酋的阿布扎比(Abu Dhabi)，迪拜(Dubai)，伊拉克的巴士拉(Basra)，巴林(Bahrain)，卡塔尔的多哈(Doha)，科威特(Kuwait)，也门的亚丁(Aden)，苏丹的苏丹港(Port Sudan)等。地中海航线:埃及的亚力山大(Alexandria)，塞得港(Port Saia)，利比亚的的黎波里(Tripoli)，突尼斯(Tunis)，阿尔及尔(Alger)，摩洛哥的卡萨布兰卡(Casablanca)，巴塞罗纳(Barcelona)，马赛(Marseilles)，热那亚(Geneva)，那不勒斯(Naples)，威尼斯(Venice)，希腊的比雷埃夫斯(Piraeus),贝鲁特(Beirut)等。欧洲航线伦敦(London)，利物浦(Liverpool)，曼切斯特(Manchester)，南安普顿(Southampton)，里斯本(Lisbon)，敦克尔克(Dunkirk)，加来港（Calais)，南特（Nantes），鹿特丹(Rotterdam)，阿姆斯特丹(Amsterdam)，安特卫普(Antwerp)，汉堡(Hamburg)，不来梅(Bremen)，都柏林(Dublin)，哥本哈根(Copenhagen)，斯德哥尔摩(Stockholm)，奥斯陆(Oslo)，赫尔辛基(Helsinki)等。北美西岸航线：温哥华(Vancouver)，火奴鲁鲁(Honolulu)，西雅图(Seattle)，波特兰(Portland)，旧金山(San Francisco)，洛杉机(Los angels)，长堤(long beach)，圣迭戈(San Diego)等。北美东岸航线：蒙特利尔(Montreal)，多伦多(Toronto)，波士顿(Boston)，纽约(New York)，费城(Philadelphia)，迈阿密(Miami)，新奥尔良(New Orleans)，休斯敦(Houston)等。國家名稱（中文）港口英文名稱港口中文名稱阿根廷Buenos Aires布宜諾斯艾利斯埃及Cairo開羅澳大利亞Melbourne墨爾本澳大利亞Perth帕斯澳大利亞Sydney悉尼巴基斯坦Karachi卡拉奇巴拿馬Panama City巴拿馬城巴西Rio de Janeiro里約熱內盧冰島Reykjavik雷克雅未克丹麥Copenhagen哥本哈根德國Berlin柏林德國Bonn波恩德國Frankfurt法蘭克福俄羅斯Moscow莫斯科法國Paris巴黎菲律賓Manila馬尼拉斐濟Nandi楠迪荷蘭Amsterdam阿姆斯特丹加拿大Montreal蒙特利爾加拿大Toronto多倫多肯尼亞Nairobi內羅畢黎巴嫩Beirut貝魯特毛里求斯Port Louis路易港美國Chicago芝加哥美國Dallas-Fort Worth達拉斯-沃斯堡美國Honolulu火奴魯魯美國Los Angeles洛杉磯美國Miami邁阿密美國New York紐約美國San Francisco圣佛朗西斯科美國Washington華盛頓民主也門Aden亞丁墨西哥Mexico City墨西哥城南非Johannesburg約翰內斯堡尼日利亞Kano卡諾挪威Oslo奧斯陸日本Osaka大阪日本Tokyo東京日本Yokohama橫濱瑞士Zurich蘇黎士塞內加爾Dakar達喀爾塞舌爾Victoria維多利亞斯里蘭卡Colombo科倫坡蘇丹Khartoum喀土穆泰國Bangkok曼谷委內瑞拉Caracas加拉加斯新加坡Singapore新加坡新西蘭Auckland奧克蘭伊拉克Baghdad巴格達伊拉克Basra巴士拉伊朗Teheran德黑蘭意大利Rome羅馬印度Bombay孟買印度Calcutta加爾各答印度Delhi德里印度尼西亞Jakarta雅加達英國London倫敦扎伊爾Kinshasa金沙薩智利Santiago圣地亞哥中國Beijing北京中國Guangzhou廣州中國Hongkong香港中國Shanghai上海中國Shenzhen深圳排名公司名称中文名称总部所在地6Citigroup花旗集团美国11BankofAmerica美国银行美国13HSBCHoldings汇丰控股英国31RoyalBankofScotlandGroup皇家苏格兰银行集团英国35UBS瑞士银行集团瑞士44J.P.MorganChase摩根大通银行美国62Wachovia瓦乔维亚银行美国69Barclays巴克莱银行英国71BNPParibas法国巴黎银行法国72MitsubishiTokyoFinancial三菱东京金融日本74BancOne美一银行美国76U.S.Bancorp美国82BancoSantanderCentralHispano桑坦德银行西班牙83HBOS英国95DeutscheBank德意志银行德国101ABNAMROHolding荷兰银行荷兰107HBOS苏格兰哈里法克斯银行英国135WellsFargo富国银行美国138SumitomoMitsuiFinancialGroup三井住友金融集团日本156DZBank德国158SocitGnrale兴业银行法国159MizuhoFinancialGroup瑞穗金融集团日本161HVBGroup德国裕宝银行德国188LloydsTSBGroup劳埃德TSB集团英国1.1.3 The points to be considered for both the buyer and the seller in international trade1.1.4 Major processes of international trade 1.Business negotiationEnquiry 询盘：就某一商品询问相关信息，主要是价格Offer/Quatation Offer/Quatation 发盘：承诺在既定的条款下供应商品Counter Offer 还盘：对别人发盘的讨价还价Acceptance/Order 接受：接受条件，同意购买 2. Sales contract Sales contract is a written agreement that clearly states the rights and responsibilities of both parties to a transaction. 销售合同是一个明确规定交易双方权利和义务的书面协议 An international contract usually contains the following parts: 3. Settlement of the proceeds1.2 Trade Terms 贸易术语贸易术语Inimport-exporttransactions,thereareusuallymanyotherextracostsinadditiontothecostofgoodsthemselves.Thinkaboutwhatothercoststheremightbe? ExtraCostincludes:transportingthegoodsfromthesellertothebuyer.insuranceofthegoodsimportdutyortaxesloading,unloadingandhandlingchargespackagingforexportdocumentationchargesKey Elements:Who pays for transport, insurance, loading, unloading (critical point for cost)Who assumes risk and responsibility (critical point for delivery) Incoterms are standard sets of trading terms and conditions, designed to: simplify communicationprevent misunderstanding between traders.1.2.1 Introduction to trade terms 国际贸易国际贸易术语介绍术语介绍 Trade terms are also called “price terms” or “delivery terms”. Trade terms are sets of uniform rules codifying the interpretation of trade terms defining the rights and obligations of the buyer and the seller in international transactions. 贸易术语又叫“价格术语”或“交货条件”，它是确定国际贸易中买卖双方责任和义务的一套统一的规则和有关规则的释义。The most important trade terms in history are:Warsaw-Oxford Rules 华沙-牛津规则，1932。Revised American Foreign Trade Definition 美国对外贸易修订本，1941。Incoterms (International commercial terms国际贸易术语解释通则), developed and issued by the International Chamber of Commerce (ICC) in Paris. The first version was known as “Incoterms 1936”.The current version is “Incoterms 2010”.补充内容：国际商会补充内容：国际商会国际商会(International chamber of commerce,简称ICC)，于1919年在美国大西洋城成立，现总部设在巴黎。它是由世界上130多个国家的经济联合会（工业、商业、银行、交通运输等行业协会组成的民间机构。国际商会以“方便国际贸易、改善国际经济关系”为宗旨，近百年来一直致力于解决国际贸易中产生的各种实务问题。为了统一各国从业人员的观点，减少分歧，国际商会编写了许多专题性的小册子，其中重要的有：托收统一规则（简称）跟单信用证统一惯例（简称）国际贸易术语解释通则（Incoterms,2010）等。 Trade termsTrade terms are key elements of international contracts of sale, since they tell the parties what to do with respect to : 贸易术语是国际销售合同的关键因素贸易术语是国际销售合同的关键因素，它主要涉及：Delivery terms ( carriage of the goods from the seller to the buyer and division of costs and costs and risksrisks between the parties ) 交货条件Price terms ( stipulating what are included in the price the buyer paid to the seller, e.g. cost, freight, insurance, export and import clearance fees, etc. ) 价格条件Delivery obligation ( what documents should the seller provide? e.g. bill of lading, insurance policy, etc. ) 交货义务贸易术语由单价金额金额、符号符号和地点地点组成，如USD12.00 per set FOB Shanghai.贸易术语中，交货问题涉及运输途中风险由谁承担责任，运输路途的运费、保险费及其它费用由谁承担，因此每一贸易术语必须在理论上订立两个临界点（Critical Point）：交货临界点交货临界点（ Critical Point for Delivery)，又称风险临界点（ Critical Point for Risk)，货物运到这个临界点，从法律观念上可以认为卖方已尽到交货责任，在这个临界点以前货物遇到风险发生损失由卖方承担责任，在这个临界点以后货物遇到风险发生损失由买方承担责任。费用临界点费用临界点（ Critical Point for Cost)，在这个临界点以前发生的运费（有时加保险费）由卖方负担，在这个临界点以后发生的运费（有时加保险费）由买方负担。贸易术语编排方式贸易术语编排方式：按照贸易术语的第一个字母，分为E、F、C、D字组四类。E E字组字组表示离开卖方厂房起运货物，它属于卖方国内销售条件。包括一个：EWX；F F字组字组表示主要运费卖方未付主要运费卖方未付，要求卖方向指定的承运人交货。卖方承担装货风险及费用的程度，要在销货合同中明确规定。包括三个：FCA、FAS、FOB；C C字组字组表示主要运费卖方已付主要运费卖方已付，由卖方负责向承运人签订运输合同支付运费。包括四个：CFR、CIF、CPT、CIP；D D字组字组表示货物到达合约，由卖方承担所有的为把货物运至目的国所需的费用和风险。包括五个：DAF、DES、DEQ、DDU、DDP 新规则取消了DAF、DES、DEQ、DDU，新增了两个DAT（delivered at terminal）在指定目的地或目的港的集散站交货，DAP（delivered at place）在指定目的地交货。1.2.2 Detailed Interpretation of “Incoterms 2010” 国际贸易术语国际贸易术语2010详细释义详细释义 Group E expresses departure from the sellers premises. 1.Ex Works (All types of transportation) (EXW) 工厂交货(指定地点) 是指当卖方在其所在地或其他指定的地点(如工场、工厂或仓库等)将货物交给买方处置时，即完成交货，卖方不办理出口清关手续卖方不办理出口清关手续(not cleared for export)或将货物装上任何运输工具。 该术语是卖方承担责任最小的术语。买方必须承担在卖方所在地受领货物的全部费用和风险。 清关清关(Customs Clearance)： 是指无论何时当卖方或买方承担将货物运过出口国或进口国的海关的义务时，这项义务不仅包括交纳关税和其他费用，而且包括履行一切与货物通过海关有关的行政事务以及向当局提供必要信息并交纳相关费用。 清关手续由住所在该国的一方或其代表办理通常是可取的。因此，出口商通常应办理出口清关手续，进口商应办理进口清关手续。 Group F expresses main carriage unpaid Group F expresses main carriage unpaid by the seller.by the seller.2. Free Carrier (All types of transportation) (FCA) 货交承运人(指定地点) 是指卖方只要将货物在指定的地点交给由买方指定的承运人，并办理了出口清关手续办理了出口清关手续，即完成交货。 交货地点的选择对于在该地点装货和卸货的义务会产生影响。若卖方在其所在地交货，则卖方应负责装货；若卖方在任何其他地点交货，卖方不负责卸货。 “承运人承运人”指任何人在运输合同中，承诺通过铁路、公路、空运、海运、内河运输或上述运输的联合运输方式履行运输或由其他人履行运输。3.3. Free Alongside Ship (Water transport) (FAS) 船边交货(指定装运港) 是指卖方在指定的装运港将货物交到船边，即完成交货。买方必须承担自那时起货物灭失或损坏的一切风险。 FAS术语要求卖方办理出口清关手续，这一点与以前版本的内容相反。如当事方希望买方办理出口手续，则需要在合同中写明。 “港口港口”(Port)(Port)、“地点地点”(Place)(Place)、“点点”(Point)(Point)和和“所在地所在地” (Premise):(Premise): 1、在交货地点问题上，Incoterm中使用了不同的表达方法。 2、只适用于海运的术语，如FAS、FOB、CFR、CIF，使用了“装运港”(port of shipment)和“目的港”(port of destination)两种表述。 3、在所有其他的术语中使用的是“地点”(place)一词。 4、在某些场合，有必要指明在“港口”和“地点”内的某点(Point)，因为卖方不仅需要知道要把货物交至某一个特定地区，例如某个城市，而且也要知道在该地区的什么点将货物交给买方处置。 5、当交货地点是卖方的“地点”时，则使用了“卖方所在地”(Premise)。4. Free on Board (4. Free on Board (Water transport) ) (FOB) (FOB) 船上交货船上交货( (指定装运港指定装运港) ) 是指当货物在指定的装运港装到船上，卖方即完成交货。这意味着买方必须从该点起承担货物灭失或损坏的一切风险。FOB术语要求卖方办理货物出口清关手续。 该术语仅适用于海运或内河运输。 Group C expresses main carriage paid by the seller.5. Cost and Freight (Water transport) (CFR) 成本加运费(指定目的港) 是指在装运港货物装到船上，卖方即完成交货，卖方必须支付将货物运至指定的目的港所需的运费和费用。但交货后货物灭失或损坏的风险，以及由于各种事件造成的任何额外费用，则由卖方转移到买方。 该术语要求卖方办理出口清关手续。该术语仅适用于海运或内河运输。6. Cost，Insurance and Freight (Water transport) (CIF) 成本、保险费加运费(指定目的港) 是指在装运港当货物装到船上卖方即完成交货，卖方必须支付将货物运至指定的目的港所需的运费和费用。但交货后货物灭失或损坏的风险，以及由于各种事件造成的任何额外费用，则由卖方转移到买方。但是，在CIF条件下，卖方还必须办理买方货物在运输途中灭失或损坏的海运保险(marine insurance)并支付保险费。 CIF术语要求卖方办理货物出口清关手续。该术语仅适用于海运和内河运输。凡是CIF、CFR交易的运输单据必须注明“运费已付”(Freight Paid)，即使信用证没有如此规定。7. Carriage Paid to (All types of transportation) (CPT) 运费付至(指定目的地） 是指卖方向其指定的承运人交货，但卖方还必须支付将货物运至目的地的运费。亦即买方承担交货之后的一切风险和其他费用。 CPT术语要求卖方办理出口清关手续，该术语可适用于各种运输方式，包括多式联运。8. Carriage and Insurance Paid to (All types of transportation) (CIP) 运费和保险费付至(指定目的地) 是指卖方向其指定的承运人交货，但卖方还必须支付将货物运至目的地的运费。亦即买方承担交货之后的一切风险和额外费用。在CIP条件下，卖方还必须办理买方货物在运输途中灭失或损坏的保险并支付保险费。 CIP术语要求卖方办理货物出口清关手续。该术语可适用于各种运输方式，包括多式联运。 Group D expresses arrival of Group D expresses arrival of the goods.the goods.9. Delivered at Place (All types of transportation) (DAP) ，目的地交货 该术语类似于DAF、DES和DDU术语，指卖方在指定的目的地（包括港口）交货，只需做好卸货准备无需卸货，即完成交货。而卖方应承担将货物运至指定的目的地的一切风险和费用（除进口费用外），亦适用于任何运输方式、多式联运方式及海运。 10. Delivered at Terminal (All types of transportation) (DAT)， 目的地或目的港的集散站交货 该术语类似于DEQ术语，指卖方在指定目的地（包括港口）卸货后，将货物交给买方处置，即完成交货。而卖方应承担将货物运至指定的目的地的一切风险和费用（除进口费用外），该术语适用于任何运输方式或多式联运。 11.Delivered Duty Paid(All types of transportation) ) (DDP) 完税后交货 是指卖方在指定的目的地办理完进口清关手续，将在交货运输工具上尚未卸下(not unloaded)的货物交与买方，完成交货。卖方必须承担将货物运至目的地的一切风险和费用，包括在需要办理海关手续时在目的地应缴纳的任何进口“税费”（包括办理海关一切手续，缴纳手续费、关税、税款和其他费用的责任和风险)。 该术语可用于所有运输方式。 EXWEXW术语术语下卖方承担最小责任，而DDPDDP术语术语下卖方承担最大责任。进口商把DDP看做是进口国家国内市场购买货物的价格术语，好像是出口商把货物运到进口国的国内市场销售给进口商一样。 若卖方不能直接或间接地取得进口许可证，则不应使用此术语。1.2.3 Objectives of “Incoterms” 国际贸易术语的目的1.2.4 What “Incoterms” do not deal with 国际贸易术语不涉及的问题 相对于相对于INCOTERMS2000，Incoterms 2010的主要变化的主要变化1.术语分类的调整:由原来的EFCD 四组分为适用于两类：适用于各种运输方式和水运；2.贸易术语的数量由原来的13种变为11种；3.2010年国际贸易术语解释通则删去了2000年国际贸易术语解释通则4个术语： DAF (Delivered at Frontier)边境交货、DES (Delivered Ex Ship) 目的港船上交货、DEQ (Delivered Ex Quay)目的港码头交货、DDU (Delivered Duty Unpaid)未完税交货； 4.新增了2个术语： DAT（delivered at terminal）在指定目的地或目的港的集散站交货、DAP（delivered at place）在指定目的地交货。 即用DAP取代了DAF、DES和DDU三个术语，DAT取代了DEQ，且扩展至适用于一切运输方式；5.修订后的2010年国际贸易术语解释通则取消了“船舷”的概念，卖方承担货物装上船为止的一切风险，买方承担货物自装运港装上船后的一切风险。在FAS，FOB，CFR和CIF等术语中加入了货物在运输期间被多次买卖（连环贸易）的责任义务的划分。考虑到对于一些大的区域贸易集团内部贸易的特点，规定，Incoterms 2010不仅适用于国际销售合同，也适用于国内销售合同。Question Suppose that you are an importer based in London, and you are comparing quotations from three suppliers. These three suppliers are all referring to the same quantity and specification of goods.A. Acme Products US $5,000 CIP HeathrowB. Baker Supplies US $5,000 EXW BeijingC. Cheapo-Choice US $5,000 FCA Beijing Use the Incoterms reference facility to investigate, and then answer these two questions?Who is offering you the BEST deal? Who is offering you the WORST deal?1.3 Basic Methods of International Payments and Settlements 国际支付与结算的主要方式国际支付与结算的主要方式1.3.1 Key factors determining the payment method 决定结算方式的主要因素1.3.2 Relative security of Payment methods 结算方式的相对安全性It is the desire of all parties for a transaction to have absolute security. But there cant be absolutes of certainty for both parties to a transaction. Therefore, international business often requires a compromise on the part of the seller and buyer that leads to relative security for both parties.1.3.3 Settlement on commercial credit 基于商业信用的结算 1. Payment in advance 预付货款It is also called advance payment. The buyer places the funds at the disposal of the seller prior to shipment of the goods or provision of services.Characteristics：特点 Basic points to be considered in using advance payment: 在使用预付货款结算方式时应考虑的一些基本问题2. Open account 赊销An arrangement between the buyer and seller whereby the goods are manufactured and delivered before payment is required.Essential features of open account business are: 赊销的基本特征: 3. Remittance 汇款Remittance refers to the transfer of funds from one party to another among different countries.the remitting bank 汇款行the remitter 汇款人the paying bank 付款行the payee or beneficiary 收款人或受益人 4. Collection 托收 An arrangement whereby the goods are shipped and the relevant bill of exchange is drawn by the seller on the buyer, and documents are sent to the seller s bank with clear instruction for collection through one of its correspondent banks located in the domicile of the buyer. (1) Documentary collection:跟单托收Financial instrument 金融单据：指汇票、本票、支票、付款收据或其它类似的用以取款的凭证。Commercial document 商业单据：指发票、运输单据、物权单据，或其它相似的单据，或不是金融单据的其他任何单据。 (2) Clean collection:光票托收 An essential feature of collection:托收的业务流程托收的业务流程 货物 出口商 委托人 付款人 进口商 结汇 委托 提示 付款 委托出口地银行 托收行 代收行 进口地银行 付款 1.3.4 Settlement on bank credit 基于银行信用的结算1. Letter of credit 信用证A letter of credit is an undertaking 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.Its primary function is relying on the banks undertaking to pay.the applicant 申请人（进口商）the issuing bank 开证行（进口商所在地银行）the nominated bank 指定行（出口商所在地银行）the beneficiary 受益人（出口商）2. Bank guarantee 银行保函 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. Summary 小结结算方式按资金的流向和结算工具传送的方向分类，有顺汇和逆汇两大类别。顺汇顺汇（Remittance）又称汇付法，是由债务人或付款人主动将款项交给银行，委托银行使用某种结算工具，交付一定金额给债权人或收款人的结算方法。其特点是结算工具的传递与资金的运动方向一致，并且是从付款方传递到收款方。故名之顺汇。顺汇在国际结算中是银行的汇款业务。逆汇逆汇（Reverse Remittance）又称出票法，是由债权人以开出汇票的方式，委托银行向国外债务人索取一定金额的结算方式。其特点是结算工具传递方向与资金运动方向相反。逆汇在国际结算中是托收方式和信用证方式。复习思考题：复习思考题：贸易术语的作用是什么？E、F、C、D字组贸易术语分别具有什么特点？Chapter 2 Introduction to International Payments and Settlements国际支付与结算概述2.1 Definition of International Payments and Settlements 国际支付与结算的定义国际支付与结算的定义2.2 Evolution of International Payments and Settlements 国际支付与结算的演变国际支付与结算的演变2.3 Characteristics of Modern International Payments and Settlements 现代国际支付与结算的特点现代国际支付与结算的特点2.4 Major Points Concerning International Payments and Settlements 国际支付与结算应注意的问题国际支付与结算应注意的问题2.5 Correspondent Banking Relationship 代代理行关系理行关系2.1 Definition of International Payments and Settlements 国际支付与结算的定义国际支付与结算的定义 国际支付与结算是各国之间进行的金融活动，它涉及一个国家向另一个国家支付款项或转移资金以清算各国在政治、经济、文化往来过程中所产生的帐户和债权、债务。 (1) Visible trade: 有形贸易 (2) Invisible trade: 无形贸易 (3) Financial transaction:金融交易 (4) Payments between governments: 政府之间的支付 (5) Others: 其它 1. International trade settlement 国际贸易结算 2. International non-trade settlement 国际非贸易结算2.2 Evolution of International Payments and Settlements 国际支付与结算的演变国际支付与结算的演变2.2.1 From cash settlement to non-cash settlement 从现金结算到非现金结算 1. Cash settlement 现金结算 2. Non-cash settlement 非现金结算2.2.2 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2.2.3 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2.2.4 Internet era 互联网时代的结算2.3 Characteristics of Modern International Payments and Settlements 现代国际支付与结算的特点现代国际支付与结算的特点 2.4 Major Points Concerning International Payments and Settlements 国际支付与结算应注意的问题国际支付与结算应注意的问题 2.5 Correspondent Banking Relationship 代理行关系代理行关系2.5.1 Definition of correspondent bank 代理行的定义 所谓代理行可以定义为“与另一家银行有着直接的或友好的服务关系的一家银行。”即使像中国银行这样的大型国际银行，建立代理行关系仍然非常重要，因为有些业务必须依靠当地的银行来完成。 1. Samples of agency arrangements 代理合约的实例 2. Selecting a best bank 选择一家最好的银行2.5.2 Control documents 控制文件 1. Lists of specimen of authorized signatures 有权签字人的签字样本 授权签字是用于验证由一家银行向其往来银行发出的信息、信函、汇款和开出的信用证的真实性。 2. Telegraphic test keys 电报密押 3. Terms and Conditions 条款和条件 4. SWIFT authentic key SWIFT密押 Society for Worldwide Inter-bank Financial Telecommunication 是一个计算机化的国际电信系统，通过标准化的、格式化的信息，该系统能迅速处理并在全球会员银行间传递金融业务与信息。2.5.3 Inter-bank accounts 银行往来帐户 随着银行间代理行关系的建立，需要在对方银行开来一个往来帐户或支票帐户 1. Nostro account Case: 2. Vostro account Case: 3.Samples of reimbursement methods 偿付方式实例2.5.4 Services provided by correspondents 往来银行所提供的服务帐户行直接入帐类汇出行是汇入行的帐户行，则汇出行办汇出手续时先贷记汇入行的帐户汇入行是汇出行的帐户行，则汇入行在收到指示时借记汇出行的帐户共同帐户行转帐类 汇款委托 汇出行 汇入行 付款指示 贷记通知 共同帐户行帐户行的共同帐户行转帐类，在无法使用上述两种类型进行偿付时，才采用这种方法 汇款委托 汇出行 汇入行 付款指示 贷记报单 汇出行 共 同 汇入行 帐户行 帐户行 帐户行复习思考题：简述国际支付与结算的演变过程。Chapter 3 Credit Instruments信用工具3.1 Negotiable Instruments 流通票据流通票据3.2 Bill of Exchange (Draft) 汇票汇票3.3 Promissory Note 本票本票3.4 Check 支票支票 A credit instrument is a written or printed paper by means of which funds are transferred from one person to another. 信用工具是可凭以将资金从某人转移给他人的一张书写的或印刷好的凭证。3.1 Negotiable Instruments 流通票据流通票据3.1.1 Definition of negotiable instrument 流通票据的定义 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 transferors 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. 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。3.1.2 Functions of a negotiable instrument 流通票据的功能流通票据的功能 (1) As a means of payment; 支付手段 (2) As a credit instrument; 信用手段 (3) As a transferable instrument. 流通手段3.1.3 Parties to a negotiable instrument 流通票据的当事人流通票据的当事人 (1) Drawer 出票人 (2) Drawee 付款人或受票人 (3) Payee 收款人 (4) Acceptor 承兑人 (5) Endorser 背书人 (6) Endorsee 被背书人 (7) Acceptor for honor 参加承兑人 (8) Guarantor 保证人 (9) Holder 持票人 (10) Holder for value 付过对价持票人 对价是指可以支持一项简单交易（或合约）之物，如货物、劳务、金钱等。付过对价持票人意指不论持票人自己是否付了对价，只要前手付过对价转让到现在持有票据的人，他就是付过对价持票人。通常是指前手付过对价，自己没有付对价而持票的人。 (11) Holder in due course 正当持票人 是经过转让而持有票据的人。正当持票人应具备的条件是：票据表面完整正常取得票据时没有过期并不知道票据曾被退票善意地取得票据并支付对价不知道票据有何瑕疵或转让人的权利有何缺陷。所谓“缺陷”，一般是指让与人是否以合法手续取得票据，是否有合法的票据权利。 符合以上条件取得票据的人即为正当持票人，也叫善意持票人，他可以向任何对票据负有债务的前手追索，且他的权利不受前手权利缺陷的影响。 3.1.4 Essentials of a negotiable instrument 流通票据的要素流通票据的要素 (1)一个书面的无条件的命令或承诺支付一笔确定的金 额； (2)由一个人开给另一个人； (3)付款给来人或指定人； (4)即期或在一个确定的将来日期付款。票据的法律系统票据的法律系统 为了保障票据的正常使用和流通，保护票据当事人的合法权益，促进商品经济发展，各国纷纷制定票据法，重点是将票据流通规则制定为法律。以英国票据法为代表的英美法系 (Bills of Exchange Act,1882 of the United (Bills of Exchange Act,1882 of the United Kingdom)Kingdom)1882年英国颁布实施票据法1896年美国制定统一流通票据法 英国、美国及一些英联邦成员国如加拿大、澳大利亚、印度、巴基斯坦等都属英美法系。以日内瓦统一法为代表的大陆法系 (Uniform Law on Bills of Exchange and Promissory Notes 1930 of Geneva)1930年法国、德国、瑞士等二十多个国家在日内瓦签定了日内瓦统一汇票本票法公约1931年又签定了日内瓦统一支票法公约英美法系与大陆法系的主要差异：伪造背书以后的拥有汇票人，日内瓦统一票据法认为可以成为持票人，付款人承兑人支付票款给持票人可以解除自己的付款责任，汇票丢失的赔偿责任由伪造人及其直接前手负担；英国票据法认为不能成为持票人，付款人承兑人支付票款给拥有汇票人不能解除自己的付款责任，汇票丢失的赔偿责任由伪造人及其直接后手负担。是保证的票据行为， 日内瓦统一票据法有完整的规定，而英国票据法仅有近似的规定。票据的对价观点， 日内瓦统一票据法没有规定，而英国票据法有明确规定，并进一步规定了付对价持票人和正当持票人，给予正当持票人优越的权利。联合国1973年拟订了国际汇票与国际本票公约草案、国际支票公约草案，1987年定名为国际汇票与国际本票公约、国际支票公约。 1988年12月9日在纽约联合国第43次大会上通过，并开放供签署。按该公约的有关规定，该公约须经至少10个国家批准或加入后，方能生效。该公约目前尚未生效。3.2 Bill of Exchange (Draft) 汇票汇票3.2.1 Definition of bill of exchange 汇票的定义 汇票是一人开给另一人的无条件书面命令，由发出命令的人签名，要求接受命令的人立即或在可以确定的将来时间把一定金额的货币支付给一个特定的人，或他的指定人，或持票人。3.2.2 Essentials of a bill of exchange 汇票的要素写明“汇票”字样注明的目的在于与其它票据如本票、支票相区别。 如：书面的无条件支付命令必须用英语的祈使句，以动词开头，作为命令式语句。Normal billPay to ABC Co. or order the sum of one thousand US dollars.Pay to ABC Co. or order the sum of one thousand US dollars for value received.Pay to ABC Bank or order the sum of one thousand US dollars. Drawn under LC No.12345 issued by XYZ Bank.Invalid billPay to ABC Co. providing the goods they supply are complied with contract the sum of one thousand US dollars. Pay to ABC Co. out of the proceeds in our No.1 account the sum of one thousand US dollars. 付款人的名称和地址没有签字，不承担一定付款之责，可付可拒，也可指定担当付款人付款名称地址须书写清楚，以便持票人向他提示要求承兑或付款出票人的签名凡在票据上签字的人，就是票据债务人。出票人在开出汇票时，必须签字承认自己的债务责任，汇票方可有效。做法：出票人是个人，如代理公司、单位签字，应在公司名称前加上“For”, “On behalf of “, “For and on behalf of”, “Per pro.”字样，并在个人签字后面写上职务名称。 如： For ABC Co. Ltd., London John Smith Manager出票日期和地点列明出票日期可起三个作用：决定汇票提示期限是否已过期；决定到期日；决定出票人的行为能力。收款人的名称汇票上收款人的记载，通常称为抬头，根据抬头的不同写法，确定汇票的可流通性或不可流通性。汇票抬头有三种写法：限制性抬头。此种抬头的汇票不得转让他人。如： Pay to John Smith only. Pay to John Smith not transferable. Pay to John Smith. 在汇票任何处写有 “Not transferable” 字样。指示性抬头。此种抬头的汇票可用背书和交付的方法转让。如： Pay to the order of ABC Co. Pay to ABC Co. or order. Pay to ABC Co.来人抬头。来人抬头的汇票仅凭交付而转让，不需背书。 Pay to bearer. Pay to ABC Co. or bearer. 只要写上“bearer”字样，不管在它前面是否有具体收款人名称，均视为来人抬头。期限，有以下四种：即期付款汇票 ( Bills payable ( at sight )/( on demand ) )定期付款汇票，或在可以确定的将来时间付款汇票 ( Bills payable at a determinable future time.)，俗称远期汇票( Time/Usance/Term Bill )。见票后若干天/月付款汇票 ( Bills payable at x x days / x month (s) after sight )。出票后若干天/月付款汇票 ( Bills payable at x x days / x month (s) after date )。提单日期/装运日期/说明日期后若干天/月付款汇票 ( Bills payable at x x days / x month (s) after B/L date / shipment date / stated date )。到期日的算法见票/出票日/说明日以后若干天付款（At xx days after sight/date/stated date): 算尾不算头，若干天的最后一天是到期日，如遇假日顺延。从说明日期起若干天付款（At 90 days from 15th April): “从”意指包括所述日期，故到期日是7月13日。见票/出票日/说明日以后若干月付款（At x months after sight/date/stated date):应该付款之月的相应日期，如果没有相应日期，则以该月最后一日为到期日。付款地点确定金额所谓确定金额，是指任何人都可以计算出来或可以确定的金额。汇票除写明应付的确定金额外，有时还可带有利息、分期付款、支付等值其它货币。Pay to the order of ABC Co. the sum of one thousand US dollars plus interest.Pay to the order of ABC Co. the sum of one thousand US dollars plus interest calculated at the rate of x% p.a.Pay to the order of ABC Co. the sum of one thousand US dollars by instalments.Pay to the order of ABC Co. the sum of one thousand US dollars by ten equal consecutive monthly instalment.Pay to the order of ABC Co. the sum of one thousand US dollars converted into sterling equivalent.Pay to the order of ABC Co. the sum of one thousand US dollars converted into sterling equivalent at current rate of exchange.汇票金额要用文字大写和数字小写。如文字和数字不符，以文字为准。汇票的其他记载项目汇票的其他记载项目成套汇票( A set of Bill ) 成套汇票的各张汇票面额和内容是完全相同的，其中任何一张付款后，其余各张即不再付。俗称“付一不付二”、“付二不付一”。如： Pay this first bill of exchange ( second of the same tenor and date being unpaid ) to 需要时的受托代理人( Referee in case of need ) 又称预备付款人。汇票若以买主作为付款人，可在其名称旁边记载需要时的受托处理人的名称和详细地址。如： To: ABC Co., 36 Threadneedle Street, London. In case of need refers to DEF Co., 139 Lambart Street, London. 如汇票不获承兑或不获付款，持票人可向需要时的受托代理人联系，求助于他。担当付款行 (A banker designated as Payer ) 当汇票是以公司作为付款人时，为了方便付款起见，出票人可根据他与付款人的约定，写出付款人的帐户行作为担当付款行。如 To: ABC Co. , London. Payable by Bank of Europe, London. 当汇票是远期时，持票人应向付款人提示要求承兑，到期日向担当付款人提示要求付款。如果出票人未记载担当付款行，付款人承兑时可加列。如： ACCEPTED ( date ) Payable at Lloyds Bank Ltd. , London. For ABC Co. , London. Signature利息与利率用其它货币付款免作退票通知或放弃拒绝证书 出票人或背书人可在他的签名旁记载放弃对持票人的某种要求。如：John Smith-Notice of dishonor excused. John Smith-Protest waived. 意指退票后无需发给他退票通知，或不要作成拒绝证书，即可向他追索。无追索权 出票人在票面上注明“Without Recourse to Us”，就是免除对出票人的追索权。背书人也可在他签名之上作同样记载。 根据日内瓦统一法规定，出票人可以免除担保承兑的责任，但不能免除担保付款的责任。3.2.3 Acts of a bill exchange 汇票的票据行为 票据行为有狭义和广义之分。 狭义票据行为是以负担票据上的债务为目的所做的必要形式的法律行为，包括出票、背书、承兑、参加承兑、保证。其中出票是主票据行为，其它为附属票据行为。 广义票据行为除包括上述狭义票据行为外，还包括票据处理中有专门定义的行为，如提示、付款、参加付款、退票、行使追索权等行为。 票据开出是要式的，票据行为也是要式的，因此要符合票据法的规定。 (1) Issuance: 出票出票行为包括出票人的两个动作出票的效力：对于出票人。出票是主票据行为，出票人是票据的主债务人。他对汇票债务的责任有两个方面，即担保承兑和担保付款。如果汇票不获承兑或不获付款，他要自己来清偿债务受持票人的追索。对于付款人。付款人没有在汇票上签字，对汇票的债务就没有责任，他完全可以根据票据提示时他与出票人的资金关系来决定是否付款。对于远期票据的付款人来说，出票使他取得了可承兑票据的地位。对收款人。对收款人来说，获得了票据就成为持票人（Holder）这使他有两种权利：付款请求权。在汇票未承兑时，这只是一种期待权。追索权。在付款人拒付时，收款人可以向出票人要求清偿债务。 (2) Endorsement: 背书 (an act of negotiation)Prerequisites for a valid endorsement:一个有效背书的必要条件：应当在汇票的背面做成并由背书人签字；一定要对汇票的全部金额做成背书。 Four kinds of endorsements: 四种背书形式Blank endorsement: 空白背书记名抬头的汇票经空白背书后变成支付给来人的汇票。已作空白背书的汇票，任何持票人都可将空白背书转变为记名背书持票人应以不间断的连续背书证明他的权利是正当的。当空白背书后面跟着其次一个背书时，其次的背书人视为前面空白背书的被背书人。Special endorsement: 特别背书，又称记名背书。记名背书的汇票再次转让时转让人仍需背书。Restrictive endorsement: 限制性背书限制性背书的汇票，禁止被背书人把汇票再行流通或转让，他只能凭票取款。Conditional endorsement: 有条件背书：是在特别背书的基础上加上背书取得付款的一些特殊条件的词语。只有符合了这些条件，背书人才有义务付款。如：“如果约翰史密斯将100箱玉米运至仓库，即付款给他。”汇票的支付命令必须是无条件的，但作成背书可以带有条件。附带的条件仅对背书人和被背书人有着约束作用，与付款人和出票人无关。付款人可不管条件是否履行，照常付款给持票人，汇票即被解除责任。(3) Presentment: 提示(4) Acceptance:承兑Acceptance of a draft is a signature by the drawee of his assent to the order given by the drawer.Presentment for acceptance is legally necessary to fix the maturity date of a draft payable after sight.Valid acceptance requires:写明“承兑”字样，签名并加注日期。如：ACCEPTEDACCEPTED ( date ) ( date ) to mature to mature ( date ) ( date ) For name of drawee For name of drawee signaturesignature 仅有承兑人的签名，没有其它内容，承兑也是有效的。付款人必须以支付金钱的形式实现他的承诺。(5) Payment: 付款A bill is discharged by payment in due course only when such payment is made by or on behalf of the drawee or the acceptor.正当付款即指：要被付款人或承兑人支付，而不是被出票人或背书人支付。要在到期日那天或以后付款，而不能在到期日以前付款要付款给持票人，意指汇票如被转让，前手背书必须连续和真实善意的付款，不知道持票人的权利有何缺陷。正当付款之后，所有票据债务人的债务都被解除。(6) Dishonor 退票:包括拒绝付款和拒绝承兑(7) Notice of dishonor: 退票通知退票通知的目的是要汇票债务人及早知道拒付之事，以便做好准备。发出退票通知的方法持票人应在退票后一个营业日内（on the next business day after the dishonor of the draft），将退票事实通知前手背书人，前手背书人应于接到通知后一个营业日内再通知他的前手背书人，一直通知到出票人。持票人将退票事实通知全体前手。(8) Protest: 拒绝证书：是法定公证人或者其他有权出具证书者（Notary Public or other authorized person）出具并签署的加封书面声明，以证明汇票经其提示承兑或提示付款但被退票。 持票人要求公证人作成拒绝证书所付的公证费用，在追索票款时一并向出票人算收。有时出票人为了免除此项费用，可在汇票上加注“Protest Waived”字样，则持票人无需作成拒绝证书，即可行使追索权。(9) Right of recourse 追索权是指汇票遭到拒付，持票人对出票人或其前手背书人有请求其偿还汇票金额及费用的权利。行使追索权的三个条件是：必须在法定期限内提示必须在法定期限内通知外国汇票遭到退票，必须在法定期限内请公证人作成拒绝证书。(10) Guarantee: 保证银行或其他当事人在票据上签字成为担保人，出票人、背书人、承兑人、制票人均可作为被担保人。担保人和被担保人所负责任相同。担保的形式如下： Per Aval Per Aval For account of _ Given for _ Guarantor _ Signed by _ Signature Dated on _(11) Discounting：贴现 Discounting 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. Illustration of procedures: 相关程序的说明3.2.4 Classification of a bill of exchange 汇票的分类 1. According to the drawer 按照出票人的不同分类 Bankers draft or bank draft 银行汇票Trade bill: 贸易汇票2. According to the acceptor 按照承兑人的不同分类Traders acceptance bill 商号承兑汇票Bankers acceptance bill 银行承兑汇票3. According to the tenor 按照期限的不同分类Sight bill 即期汇票Time bill or Usance bill 远期汇票4. According to whether commercial documents are attached thereto 按照汇票是否跟随商业单据分类Clean bill 光票Documentary bill 跟单汇票5. According to the currency denominated 按照使用货币不同分类Local currency bill 本国货币汇票Foreign currency bill 外国货币汇票3.2.5 Functions of Bill of Exchange P483.3 Promissory Note 本票本票3.3.1 Definition of promissory note 本票是一人向另一人开立，由制票人签字，保证对某一特定的人或其指定人或持票来人即期或在固定的、或在可以确定的某一日期支付一定货币金额的书面的无条件的付款承诺。3.3.2 Characteristics of a promissory note 本票的特征无条件的书面承诺基本当事人是制票人和收款人远期本票不需要承兑任何情况下制票人都是最主要的债务人在现代商业交易中，除制票人为银行的本票外，其它本票使用并不广泛3.3.3 Essentials to a promissory note 本票的要素3.3.4 Difference between a promissory note and a bill of exchange 汇票与本票的不同之处3.4 Check 支票支票3.4.1 Definition of check 支票的定义 支票是由银行的客户向银行开出的，由出票人签字，授权银行对某人或其指定人或持票来人即期支付一定货币金额的书面的无条件支付命令。3.4.2 Essentials to a check 支票的要素 清楚写明“支票”字样无条件书面支付命令付款银行的名称出票人的签字出票地点和日期付款银行的地址一笔确定的金额收款人名称3.4.3 Features of a check 支票的特征支票必须是无条件付款支票的付款人必须是银行支票上必须注明确定的金额，并由出票人签字支票的日期不是重要因素，所以支票注明的出票日期可以比实际日期早、比实际日期晚或者是非营业日收款人可以是来人、一个特定的人或者是他的指定人3.4.4 Parties to a check 支票的当事人3.4.5 A bankers duty to honor checks 银行兑现客户支票的责任 只要客户在银行有足够的存款余额或透支额度，银行就有责任兑现客户的支票。在以下情况下银行无义务支付支票：由客户取消付款-即通常所说的“止付”接到通知客户已经死亡或解散接到通知客户破产或停业清算接到对抗客户的指令接到关于客户精神不正常的通知接到针对客户账户的根据法院扣押令扣押债务人财产者的指令接到法院的关于冻结客户账户的指令 1. Countermand of payment 支票的止付 2. Position when a banker wrongfully pays a check 银行对支票不当付款的情况3.4.6 Check clearing 支票的清算 The check clearing process identifies two key roles that banks have to play. These are the roles of collecting bank and paying bank. 1. Collecting bank: the bank who accepts a check for credit into an account of his customer. 代收行，接受支票贷记客户账户的银行 The points to be checked: 代收行接受支票时应审查的要点：（1）Date 日期Out of date 过期Post dated 尚未到期Undated 没有日期（2）Payee 收款人（3）Words and figures 金额的大小写（4）Signature 签字（5）Endorsement 背书（6）Crossing 划线 2. Paying bank: the bank who effects payment of the check drawn by his customer 付款行，被出票的客户指定执行付款责任的银行 Points to pay attention: 应注意的问题 3. Process of Check Clearing 支票清算的步骤收款人向开户行出示支票并要求银行代收代收行检查支票确认正常代收行向付款行提示支票当付款行确认支票票面正常并且出票人的账户有足够的存款余额或透支额度后，付款给代收行代收行从付款行收到款项后贷记收款人帐户3.4.7 Types of Check 支票的分类 1. Open Check 非划线支票、开放支票或普 通支票 A check is called “open” when it is possible to get cash over the counter at the bank. 2. Crossed checks 划线支票 1) Meaning 含义 A crossing is in effect an instruction to the paying bank from the drawer or holder to pay the fund to a bank only. 支票的划线实际上是出票人或持票人指示付款银行只能将资金入银行账户的指示。因此，划线支票不能在付款银行取现，必须由代收行向付款行提示付款。 2) General Crossing 普通划线 当一张支票的票面有以下的附加内容：在两条平行线之间有“and company”字样，或它的缩写(如& Co.)，“not negotiable”字样可有可无；只有两条平行线， “not negotiable”字样可有可无； 这些附加内容构成划线，这张支票被普通划线。 普通划线的作用是支票只能转帐付款给另一家银行（即将票款存进银行帐号而不能支付现金）。3) Special crossing 特别划线 支票带有横过票面的两条平行线，中间有一家银行的名称，即为特别划线。特别划线支票只能转帐付款给划线里面的那家银行。 3. Bearer Check 不记名支票 A check which is payable to any person who presents it for payment at the bank counter. 4. Order Check 记名支票 A check which is payable to a particular person.3.4.8 Difference between a check and a bill of exchange 支票与汇票的区别支票与汇票的区别复习思考题：正当持票人应具备什么条件？什么是汇票抬头？举例说明汇票抬头的不同写法并说明其对汇票流通转让的影响。什么是背书行为？举例说明背书的主要形式。本票具有哪些特征，与汇票有何不同之处？支票具有哪些特征，与汇票有何不同之处？什么是划线支票？有哪些类型？划线的作用是什么？国际结算主要产品结构 进口进口 出口出口汇款方式汇款方式 63.88% 79.96%63.88% 79.96%信用证方式信用证方式 28.59% 14.82%28.59% 14.82%其它方式其它方式 7.53% 5.22%7.53% 5.22%Chapter 4 International Bank Remittance 国际银行汇兑国际银行汇兑4.1 General Description 国际银行汇兑方式概述国际银行汇兑方式概述4.2 Practice of Remittance 国际银行汇兑实务国际银行汇兑实务4.3 The Function of Remittance in International Trade 汇兑在国际贸易中的作用汇兑在国际贸易中的作用4.1 General Description 国际银行汇兑方式概述国际银行汇兑方式概述 在国际贸易中，索偿权和债务的结算以及货款的转移可以采用多种方式。 国际汇兑的发生是在客户（付款人）要求他的银行使用某种方式将一笔货款支付给国外的受益人。受益人可以在指定的银行获得付款，这家银行可以是汇款行的海外分行也可以是它的代理行。 International remittance happens when a client ( payer ) asks his bank to send a sum of money to a beneficiary abroad by one of the transfer methods at his option. The beneficiary can be paid at the designated bank, which is either the remitting banks overseas branch or its correspondent.4.1.1 Parties concerned and methods 汇兑当事人及方式 1. Parties ConcernedThe remitter 汇款人Remitting Bank 汇出行：汇出行是应汇款人的请求将资金转移给它在国外的代理行或分行，并指示后者解付一定货币金额给受益人的那家银行。Payee 收款人Paying bank 解付行：是受汇出行委托将一定货币金额解付给汇款通知书上指定的受益人的那家银行。 2. Methods: There are three basic ways for a bank to transfer funds for its client from the home country to abroad. 1) Remittance by airmail (M/T) 信汇汇款 信汇是汇出行通过签发并邮寄支付委托书、信汇通知书或有时是汇出行签发的通知(payment order, a mail advice or credit advice/please debit advice)转移款项的一种汇款方式。 支付委托书、信汇通知书或贷记/借记报单是一家银行向另一家银行开出的书面的真实支付命令，指示后者支付一定货币金额给委托书上指定的某一特定的人或受益人。2) Remittance by cable / telex / SWIFT (T/T) 电汇汇款 电汇汇款是汇款人(付款人或债务人)委托银行以电报、电传、环球同业银行金融电讯协会方式，指示出口商所在地某一银行(其分行或代理行)作为汇入行，解付一定金额给收款人的汇款方式。 3) Remittance by bankers demand draft (D/D) 票汇 A banks draft is a negotiable instrument drawn by a bank on its overseas branch or its correspondent abroad ordering the latter to pay on demand the stated amount to the holder of the draft. It is often used when the client wants to transfer the funds to his beneficiary himself. 银行即期汇票是由汇出行开给它的海外分行或代理行的流通票据，指示后者即期支付规定的金额给汇票的持票人。这种汇款方式通常在客户希望自己将款项移交给受益人时使用。 The process of a demand draft is as follow:4.1.2 Procedures 汇兑业务流程 1. Procedures for M/T and T/T 信汇和电汇的业务流程 汇出行办理的业务叫汇出汇款 (the outward remittance)； 解付行(汇入行)办理的业务叫汇入汇款 (the inward remittance). 2. Procedures for D/D 票汇的业务流程4.1.3 Advantages and disadvantages 汇兑的利与弊 1. Advantages 2. disadvantages Summary4.2 Practice of International Bank Remittance 国际银行汇兑实务国际银行汇兑实务4.2.1 Outward Remittance 汇出汇款1.Procedures for Handling Outward Remittance2.Return of Outward Remittance4.2.2 Inward Remittance 汇入汇款1.Procedures for Handling Inward Remittance2.Principles for Handling Inward Remittance3.Return of Inward Remittance4.2.3 Specimen Forms of Remittance 汇兑业务的表格样本4.2.4 Methods of Reimbursement偿付方法 汇款业务中的头寸(Cover)是指汇款资金的调拨与偿付。汇出行办理汇出汇款业务，应及时将汇款金额拨交给其委托解付汇款的汇入行，这就叫汇款的偿付(Reimbursement of Remittance Cover) 俗称拨头寸。 拨头寸又须结合汇出行与汇入行的开设帐户情况，具体可以分为以下几种调拨头寸方法：(1)Crediting vostro account of the paying bank 贷记汇入行的来帐 如果汇入行在汇出行开有往来账户，则偿付指示可以写成： “In cover, we have credited the sum to your account with us.” “作为偿付，我行已将汇款金额贷记你行在我行的帐户。”(2) Debiting remitting banks nostro account 借记汇出行的往帐 如果汇出行在汇入行开有帐户，偿付指示可以是： “Please debit the sum to our account with you” “You are authorized to debit the sum to our account with you.” “请借记我行在你行的帐户。”(3) Instructing a reimbursing bank to effect payment by debiting the remitting banks nostro account 指示偿付行借记汇出行的往帐来偿付解付行 The reimbursement clause is thus written 偿付条款因此写成： “In cover, we have authorized The Bank of Tokyo, New York to debit our account and credit your account with the above sum.” “作为偿付，我行已授权东京银行纽约分行就上述金额借记我行帐户贷记你行帐户。” “In cover, we have instructed The Bank of Tokyo, New York to pay the proceeds to your account with The Standard Chartered Bank, New York.” “作为偿付，我行已通知东京银行纽约分行将有关收益付至你行在渣打银行纽约分行的账号。”(4) Instructing the paying bank to claim reimbursement from another branch of the same bank or another bank with which the remitting bank opens an account 指示解付行向同一家银行的另一家分行或汇出行开有帐户的另一家银行索偿。 “In cover, please reimburse yourselves to the debiting of our account with The Bank of Tokyo, New York.” “作为偿付，请通过借记我行在东京银行纽约分行的账号进行索偿。” “In cover, please claim on The Bank of Tokyo, New York.” “作为偿付，请向东京银行纽约分行索偿。”(5) According to the payments agreement between two countries 按照两国之间的支付协定 “In cover, you are authorized to debit our Central Banks clearing account with your Central Bank.” “作为偿付，你行被授权借记我方中央银行在你方中央银行的清算账户。”4.2.5 Cancellation of the remittance 汇兑的取消 1. Cancellation of mail transfer or telegraphic transfer 信汇和电汇的取消 2. Cancellation of a bank draft already issued 已开出银行汇票的取消4.3 The Function of Remittance in International Trade 汇兑在国际贸易中的汇兑在国际贸易中的作用作用 In international trade, remittance as a settlement of claims and debts, according to the time of shipment and of payment, falls into two categories: the so called “cash before shipment” （装运前付款）method and “shipment at first settlement later” （先装运后付款）method. The former is known as payment in advance, and the latter open account.4.3.1 Payment in advance is made by remittance 用汇兑实现预付货款4.3.2 Open account business 赊账业务： 赊账业务也称货到付款。复习思考题：银行之间的偿付方法有哪些类型？试举例说明。国际汇兑方式的利弊分析。Chapter 5 Collection托收托收5.1 Introduction 托收方式概述托收方式概述DefinitionPartiesTypes of collection5.2 Documentary Collection Practice 跟单托收实务跟单托收实务ProcedureCollection orderOutward and inward collection5.3 Risk Protection and Financing Under Collection Methods 托收业务托收业务风险防范与资金融通风险防范与资金融通5.1 Introduction 托收方式概述托收方式概述5.1.1 Definition of collection 托收的定义 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 sellers bank with clear instructions for collection through one of its correspondent bank located in the domicile of the buyer. 托收是这样一种安排，即出口商在货物装运后，开出以进口商为付款人的相关汇票，将汇票和（或）货运单据连同其明确的托收指示交给出口地银行，委托出口地银行通过其在进口商所在地的往来银行向进口商收取货款。 按照托收统一规则（国际商会第522号出版物）给出的定义，托收意指银行按照从出口商那里收到的指示办理： 1、获得金融单据的付款及/或承兑，或者 2、凭付款及/或承兑交出单据，或者 3、以其他条款和条件交出单据。Comment:Collection serves as a compromise between open account and advance payment in settlement of international transactions concluded by the importer and the exporter.This service offered by banks facilitates a creditor in one country to obtain settlement from a debtor in another at a minimum cost. 5.1.2 Parties to the operation of collections 托收业务的当事人 There are four main parties to collection transaction. Note that each party has several names because businessmen and banks each have their own way of thinking about and naming each party to the transaction.1. The principal (seller / exporter / drawer) 委托人（卖方/出口商/出票人） 委托人一般是银行的客户。2. The remitting (principals / sellers / exporters) bank 托收行3. The collecting or presenting bank 代收行或提示行 一般来说代收行是托收行在进口商所在国的代理行或分行。如果代收行与进口商不在同一地点，它会将单据交给与进口商在同一城市的交单行。4. The drawee (buyer / importer) 付款人（买方/进口商）5. Case of need 需要时的代理人 是委托人指定的代表。他在汇票遭到拒绝承兑和（或）遭到拒绝付款时充当需要时的代理人。其权利应在托收委托书上有明确而充分的规定。5.1.3 Types of collection 托收的种类托收的种类 1. Documentary collection vs clean collection1) Documentary collection nDefinition pDocumentary collection may be described as collections on commercial documents with or without being accompanied by financial instruments. p跟单托收可以是附带商业单据的金融票据托收或不附带金融票据的商业单据托收，即并无汇票，单是商业单据的托收。pThis type of collection allows the exporters to retain ownership of the goods until they receive payment or acceptance.nBankers role in documentary collection 银行在跟单托收中的角色pBoth remitting bank and collecting bank act as the exporters agent.p在跟单托收中，托收行作为出口商的代理人，通过持有权利凭证来管理商品与价值相交换的时间和次序，直到进口商支付了汇票或承认了债务。nBasic forms of documentary collections 跟单托收的基本形式pdocuments against payment (D/P) 付款交单pdocuments against acceptance (D/A) 承兑交单(1)Documents against payment (D/P)Definition 定义： The collecting bank may release the documents only against full and immediate payment, insofar as national, federal or local laws or regulations do not prevent it. 代收行在国家、联邦或地方法律或规则不加禁止的范围内，在即时全部收到货款的条件下交出单据。Precautions 预防措施 In practice buyers prefers to postpone the takeover of the documents and the payment until after the arrival of the goods. In order to prevent the practice, a clear term “Payment on first presentation of the documents” should be included in the collection order.Advantage 优点：这种托收方式对卖方来说是最安全的。According to the time of making payment, D/P can be divided into two kinds:Documents against payment at sight (D/P at sight) 即期付款交单 - Under this method, the seller issues a sight bill.Acceptance against payment (Acceptance D/P )凭远期付款交单- Bills of exchange under this kind of collection are usually term bills. After the bill of exchange has been accepted by the importer, the accepted bill is kept at the collecting bank together with the documents up to maturity.-委托人为了防止远期付款交单与承兑交单相混淆，可在托收指示上注明：“Deliver documents only after payment was effected”(付款后才能较单）。- Comment： This gives the buyer time to pay for the shipment but gives the seller security that title to the shipment will not be handed over until payment has been made. ( URC does not encourage this kind of collection.)(2)Documents against acceptance (D/A)Definition 定义 The collecting bank may release the documents to the buyer against the buyers acceptance of a draft, drawn payable 30180 days after sight or due on a definite date. 代收行在买方承兑汇票，汇票在见票后30180天到期付款或在一个确定的日期到期付款的条件下向买方交出单据。Advantage to the buyerThe buyer gains possession of the goods before the payment is made.Disadvantage to the sellerThe seller bears the risks of the buyers non-payment.What the seller should knowThe seller should know that he gives up title to the shipment in exchange for the acceptance of the bill that represents his only security in the transaction.2) Clean collection 光票托收光票托收Definition 定义： Clean collections are collections on financial instruments without being accompanied by commercial documents. 意指金融单据的托收，而不伴随商业单据， 如：发票、提单、保险单等等。Features 特征 Under clean collection, only the draft and instruction letter are sent out for collection. The documents are sent directly by the exporter to the importer or the exporters foreign agent. So, the exporter is shipping on open account terms. Typical clean items 典型的光票类型 (P89)2. Direct collection vs Indirect collection1) Definition 定义： Direct collection is an arrangement whereby the seller obtains his banks pre-numbered direct collection letter, thus enabling him to send his documents directly to his banks correspondent bank for collection. This kind of collection accelerates the paperwork process. 是指卖方从他的银行即托收行那里获得托收指示的空白格式，由他自己填写，连同托收单据直接寄给买方银行，即代收行，请其代收货款，并将已经填妥的托收格式副本送给托收行，请其将此笔托收视同本行办理一样。这种托收提高了效率。2) Features 特征 (P90)The seller sends to remitting bank a copy of the respective instruction letter.The remitting bank treats this transaction in the same fashion as a normal documentary collection item.By using this service, the exporter foregoes the chance of having the bank examine his documents before they are mailed out. But he can benefit from the banks follow-up service.The collection bank will usually charge the same collection fee that would apply when a bank sends the item directly.5.2 Documentary Collection Practice 跟单托收实务跟单托收实务5.2.1 Procedure 跟单托收业务程序 1. Features of documentary collection procedure The documentary collection procedure involves the step-by step exchange of documents giving title to goods for either cash or contracted promise to pay at a later time. 跟单托收业务程序包括用代表货物的单据一步一步交换现金或已约定的将来时间的付款承诺。The collection procedure is chronological: The bank in a documentary collection transaction doesnt act until the preceding steps have been completed. This means that the exporter does not receive payment until remitting bank has received the funds from its overseas collecting bank. 托收业务程序是有时间顺序的：银行在跟单托收交易中在前面的步骤完成之前不会采取进一步的行动。这意味着出口商在他的银行从代理行（海外代收行）收妥款项之前不可能获得付款。2. Procedure for D/P 付款交单的业务流程3. Procedure for D/A 承兑交单的业务流程5.2.2 Collection order 托收委托书1. Importance of collection order 托收委托书的重要性 All documents sent for collection must be accompanied by a collection order giving complete and precise instructions. Banks are only permitted to act upon these instructions and in accordance with the URC. If the collection bank cant comply with the instructions given in the collection order, it must immediately advise the party from whom it received the collection order. 所有的托收单据必须伴随有托收委托书以给出完整和详细的托收指示。银行必须按照这些指示和根据托收统一规则行事。不管什么理由，如果银行不能按照托收委托书中的指示行事，它必须立即通知给出托收委托书的当事人。2. Specific instructions 明确的指示 The collection order is a standard form of authority that enables the exporter to include specific instructions to his bank regarding the documentary collection . Specific instructions are required on the following points. 1)D/P or D/A2) Store and insure clause 存仓及保险条款 If documents are not taken up on arrival of goods, instructions are required on whether to warehouse and insure the goods.3) Bank and other charges 银行费用及其他费用 The collection order will state whether bank and other charges have to be collected in addition to the face value of the bill of exchange.4) About protest 关于拒绝证书 In some country, the law requires a dishonored bill of exchange to be protested within one working day, otherwise the drawer cant sue on the bill.5) Advice of dishonor 拒付通知 Advice of dishonor , with reasons, should be given by airmail or cable.6) Prior presentation 货到前提示 If this clause is adopted, the overseas bank will be authorized to await the arrival of the goods before pressing the drawee for payment or acceptance.7) Case of need 需要时的代理8) Method of settlement 结算方式5.2.3 Outward collection and Inward collection 出口托收银行的处理及进口托收银行处理 1. Classification 分类 Operationally banks classify collection items as outward collection (also be called payable overseas) or inward collection (also be called payable domestic). 2. Outward collection 出口托收 In outward collection, a bank acts as the remitting bank. The remitting banks outward collection includes: 1) receiving the application of the exporter; 2) sending the draft with or without shipping documents attached as well as collection order to the collecting bank in the importers country.3. Inward collection 进口托收 In inward collection, a bank acts as the collecting bank. The collecting banks inward collection includes: 1) receiving the draft with or without shipping documents attached as well as the collection order from a remitting bank abroad; 2) endeavoring to collect the payment or obtain the acceptance from the importer.4. Banks responsibility 银行的责任 1) Banks are only permitted to act upon the instructions given in the collection order by the exporter and URC; 2) Banks will act in good faith and exercise reasonable care and verity that the documents received appear to be as listed in the collection order. 3) Banks have no further obligation to examine the content of the documents. 5.3 Risk Protection and Financing Under Collection Methods 托收业务风险防范与资托收业务风险防范与资金融通金融通5.3.1 Risk involved under collection 风险防范风险防范 1. Risks for exporter 出口商的风险Types of risk for exporter: 1) Non-acceptance of merchandise 拒收货物 This kind of risk usually happens when there has been a significant drop in the market price. Acting as the agent of the exporter, the foreign collecting bank usually offer its assistance in arranging for storage and insurance at the port of destination.2) Non-payment of trade acceptance 承兑后拒绝付款3) Possession of goods 占有货物 Certain governments may demand that the buyer show them the shipping documents before they allocate the needed foreign exchange. In this and similar cases, the document may have to be released to the importer on trust receipt.4) Exchange restriction 外汇管制Exporters measures against risks 出口商防范风险的措施1)The exporter should always make sure that the overseas importer is of good reputation and of good financial standing.2) The exporter should take into account the economic and political conditions in the importing country.3) The exporter should also pay attention to the foreign exchange regulation in the importing country.4) The exporter should take hedging operation or immediate settlement of the account denominated in a foreign currency to avoid losses on foreign exchange transaction.2. Risks for importer 进口商的风险Types of risk for importer: 1) Upon D/P collection, no opportunity is available to inspection the goods before making payment. 2) Upon D/A collection, if a bill is protested, this can ruin the reputation of a trader and may be considered an act of bankruptcy.Importers measures against risks The importer may be able to protect himself by requiring an inspection certificate as part of the documentation.5.3.2 Financial under the collection 托收项下的资金融通托收项下的资金融通 1. Collection Bill Purchased 托收出口押汇Definition 定义： Financing by banks for exporters under documentary collection methods takes the form of collection bill purchased. Collection bill purchased means that the remitting bank purchases the documentary bill drawn by the exporter on the importer. 跟单托收项下，银行向出口商融资常采用托收出口押汇的形式。托收出口押汇是指托收行买入由出口商向进口商开立的跟单汇票。Process 程序 (P100)Comment 评价 Collection bill purchased involves great risk for the remitting bank due to lack of a guarantee and , so, many remitting banks are unwilling to do so.2. Trust receipt 信托收据Definition 定义： Financing by banks for importers under documentary collection methods takes the form of trust receipt. On collection terms basis, if the collecting bank has a great degree of trust in the importer, the bank may be willing to release the negotiable bill of lading, and thereby also the goods, to the importer against the signing of a trust receipt. After the importer has made his final sale and received the proceeds, he can pay the collecting bank that granted the advance. 跟单托收项下，银行向进口商融资常采用信托收据的形式。以托收为支付条件时，如果代收行对进口商有较高的信任度，代收银行愿意凭进口商签署信托收据而将可流通的提单进而将货物交给进口商。进口商销货并收回货款后再行偿付代收银行。Application 应用 Parties 当事人： 采用信托收据方式融资时，进口商作为被信托人(Trustee)，银行作为信托人(Entruster)。凭信托收据提取的货物其产权仍属银行(the legal title to the goods remains with the entruster) ，进口商处于代为保管货物的地位。The obligations of the trustee 被信托人的义务Risks for the collecting bank 代收行的风险复习思考题：根据所涉及的单据来划分，托收有哪些类型？分别具有什么特点？在托收业务中，进出口商分别面临什么风险？怎样防范？Chapter 6 Letter of Credit信用证信用证关于信用证信用证广泛使用是在17、18世纪。当时交通、通讯不发达，买卖双方不能充分了解和信任，所以在交易中安全性非常重要。近十几年来，随着交通、通讯和信息产业的发展，贸易中结算方式发生了很大的变化。十年前信用证业务尚且在结算方式中占到4050%的份额，到2006年，这一比例下降到约2530%，即使用信用证方式的结算金额在上升，但比例在下降，而赊销方式所占比例上升到约60%。原因在于：1、跨国公司的全球化生产；2、买方市场的格局愈发明显，买方不愿意占压资金（开证需占有买方1的信用额度）。但卖方仍愿意使用信用证，因为安全性高。信用证结算方式会否日趋萎缩直至消亡？应该不会。信用证方式存在了几百年，已是非常完善的结算方式，仍有存在的道理。普遍认为会在现有的水平上略有下降然后趋于稳定。关于跟单信用证统一惯例UCP500(1993)已经使用了十余年，有些条款已经不能很好满足业务发展的需要，如约60%70%的信用证会有不符点，使信用证使用的有效性受到影响。ICC于2002年萌发修订UCP500的动议。ICC银行委员会于2003年5月会议上正式批准修订UCP500 .2006年10月在巴黎召开的ICC银行委员会上各国代表表决一致通过了UCP600条款，并于2007年7月1日起实施。6.1 Introduction 信用证概述信用证概述6.1.1 Definition of L/C? 信用证的定义 在国际贸易中几乎不能实现一手交钱一手交货。信用证是解决这一问题的有效方式。它的目标是通过银行信用来使国际支付顺利进行。这种支付方式为买卖双方提供了保障。对卖方来说，只要提供没有瑕疵的单据就能保证得到付款；对于买方来说，通过他在信用证里规定的单据就能保证得到要求的货物。 The documentary credit or letter of credit is an undertaking 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. 跟单信用证或简称为信用证，是一种由银行为买方（申请人）或以其自己的名义出立的一种保证，保证在符合信用证的一切条件下，将汇票或单据的金额支付给受益人。 跟单信用证通过付款时间和交货时间的配合，在买卖双方相互矛盾的利益之间实现了一个商业上可接受的折中。然而，它是通过凭代表货物的单据付款而不是凭货物本身付款做到这一点的。6.1.2 Characteristics of a letter of credit 信用证的特点信用证的特点 A letter of credit places a banks credit instead of a commercial credit. It is guaranteed by the issuing banks creditworthiness. Its main characteristics are as follows: （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.在提交的单据与信用证的条款和条件一致的情况下，开证行承担付款的责任，而不管申请人是否破产或是否付款。（2）A letter of credit stands independent of the sales contract.信用证独立于销售合同。虽然信用证是在合同的基础上开立的，但银行并不关心或受制约于合同。银行在开立信用证时不会考虑销售合同但会遵守买方交来的开证申请。（3）Banks deal with documents and not with goods, services or other performances to which the documents may relate.在信用证业务中，银行只处理单据而不处理单据所涉及的货物、服务或其它行为。他们只在提交给他们的单据的基础上审查信用证的条款是否被满足。（4）Banks main responsibility is to examine each document presented to see whether it appears on the face to be in compliance with the credit terms.信用证业务所涉及的银行对所提交单据的形式、是否充足、准确度、真实性、是否伪造或合法性不承担责任。银行在这方面的主要责任是审查提交给他们的每一份单据在表面上是否与信用证条款相符。（5）Banks assume no responsibility for the acts of third parties in the credit transaction.处理信用证业务的银行对交易中以某种方式参与的第三方不承担责任。6.1.3 Benefits of the documentary credit 信用证的有利方面信用证的有利方面 （P110) 1. Facilitates financing the documentary credit 跟单信用证的融资便利 2. Provides legal protections 提供法律保护 3. Assures expert examination of documents 保证专业的单据审查（买方可以确信只有在符合信用证条件和跟单信用证统一惯例的情况下才会对卖方付款）。6.1.4 Parties involved in a documentary credit 信用证的当事人信用证的当事人 在跟单信用证业务中有四个主要当事人，以及一些为使交易顺利进行而涉及的其它当事人。每一个当事人都有多个名称。 1. Applicant / importer / the buyer 申请人/ 进口商/买方 2. Issuing / opening bank / the buys bank 开证行/买方的银行 3. Advising bank 通知行 4. Beneficiary / exporter / the seller 受益人/ 出口商/卖方 5. Confirming bank 保兑行 6. Negotiating bank 议付行 7. Paying bank / drawee bank 付款行/受票 行 8. Accepting bank 承兑行 9. Reimbursing bank 偿付行6.1.5 Basic procedure of documentary credit 信用证的基本程序信用证的基本程序 The documentary credit procedure involves the step-by-step exchange of documents giving title to the goods for either cash or a contracted promise to pay at a later time. There are four major groupings of steps in the procedure. 1. Issuance 开证 Issuance describes the process of the buyers applying for and opening a documentary credit at the issuing bank and the issuing banks formal notification of the seller through the advising bank. 2. Amendment 修改 Amendment is the process whereby the terms and conditions of a documentary credit may be modified after the credit has been issued. Amendment must be authorized by the buyer and issued by the issuing bank to the seller through the same channel as the original documentary letter of credit. 3. Utilization 使用 Utilization refers to the procedures for the sellers shipping of the goods, the transmission of documents from the seller to the buyer through the banks, and the transfer of the payment from the buyer to the beneficiary through the banks (settlement).4. Settlement 结算(a subpart of utilization) It concerns with the different ways in which payment may be effected to the beneficiary from the buyer through the bank.6.1.6 Some commonsense rules about L/C 有关信用证的一些基本常识有关信用证的一些基本常识 1. First rule 第一条规则Buyer 买方 他对开证行的指示必须清楚，准确无误，并且不要包含过多细节。（be clear, correct and precise, and free from excessive details )Seller 卖方 虽然在收到信用证和使用之间有相当长的时间，但卖方应当毫不延迟地研究信用证并提出必需的修改。2、Second rule 第二条规则Buyer 对买方来说，信用证的目的是为他的购买支付，而不是监督该笔交易，因此，信用证的条款和要求的单据应当和它所基于的销售合同相符。Seller 卖方要自己检查信用证条款和要求的单据是否与合同相符。（银行不涉及合同。）银行对单据的审查只考虑信用证条款以及以后的修改。 3、Third rule Buyer 必须通过单据规定在装运前或装运时进行商品检验。在信用证上必须注明该项单据的具体种类和有权签发人。Seller 在提交单据时，他应当：（1）准确地提交信用证要求的单据；（2）尽可能快地向银行提交单据，无论怎样应当在信用证的有效期以及信用证规定的运输单据签发日期之后的一个固定期限内，或者适用UCP600第14条c款的规定。(A presentation including one or more original transport documents must be made by or on behalf of the beneficiary not later than 21 calendar days after the date of shipment as described in these rules, but in any event not later than the expiry date of the credit.4、Fourth ruleBuyer 信用证不应要求卖方无法提供的单据，也不应规定卖方无法满足的条款。Seller 他必须知道不遵守信用证规定的条款，单据不规范，会使银行拒绝付款。6.2 Types of Credit 信用证的种类信用证的种类 信用证可以从多个角度分类，如付款时间、银行承诺、特殊用途等。6.2.1 According to whether it can be revoked or not 按是否可撤销分类按是否可撤销分类 (Attention: According to UCP600 art3: A credit is irrevocable ever if there is no indication to that effect.) 1. Revocable credit 可撤销信用证 信用证可以被开证行修改或注销或撤回，不需要征得受益人的同意，甚至直到开证行已经准备好跟单信用证可以付款之前不需要事先通知受益人。 Function clause (P117)2. Irrevocable credit 不可撤销的信用证 A credit that constitutes a definite undertaking of the issuing bank. It cant be cancelled / modified without the express consent of the issuing bank, the confirming bank ( if any ) and the beneficiary. 对于不可撤销的跟单信用证而言，在其规定的单据全部提交给指定银行或开证行，符合信用证条款和条件时，即构成开证行的确定承诺，允诺付款或承兑并支付信用证项下交来的汇票及/或单据。不可撤销信用证未经开证行、保兑行（如有保兑行的话）和受益人的明确同意，该证既不能撤销，也不能修改。 Function clause: P1176.2.2 According to the adding of confirmation 按是否加保兑分类 1. Confirmed credit 保兑信用证 一张信用证注明由开证行和通知行两家银行同时承诺付款。 该证被通知给受益人又加具了另一家银行的保兑。只要信用证规定的单据在到期日或以前提交至保兑行或指定银行，并与信用证条款和条件相符，则构成保兑行在开证行以外的确定的承诺，允诺付款或承兑或议付信用证项下交来的汇票及/或单据。 A credit that carries the commitment to pay by both the issuing bank and the confirming bank. It is used when the seller does not have confidence that the issuing bank can effectively guarantee payment. 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.Advantage: A double assurance of paymentThe issuing banks authorization clause 开证行的授权条款 P120The confirming banks engagement clause 保兑行的承诺条款Silent confirmation 沉默（非授权）保兑 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. 代表了银行和受益人之间的协议，表示该银行加上了保兑，尽管它未被开证行授权保兑。2. Unconfirmed credit 不可撤销不保兑信用证 A credit that bears no confirmation of the correspond bank. It only has the commitment of the issuing bank. 一张信用证没有加上代理行的保兑，只有开证行一家银行的承诺。 Function clause P1226.2.3 According to the tenor 按期限分类按期限分类 1. Sight credit 即期付款信用证 A letter of credit calling for payment upon the presentation of the documents either with or without a sight draft. 一张信用证在提示单据的时候要求立即付款，可以附带也可以不附带即期汇票。在这种信用证项下，受益人（出票人）在相关单据已经被核验并被发现符合要求的情况下，有权利要求在向付款行或开证行提示汇票时立即获得付款。 Function clause: P1242. Time credit / Usance credit 远期付款信用证 If a L/C specifies that drafts are to be drawn at any length of time, such as 60 days, 90 days or 180 days, after sight, it is called a time or usance credit. Under this kind of L/C, discount charges, stamp duty and acceptance commission are for the beneficiarys account. 假如一张信用证说明汇票将在一段时间以后付款，例如见票后60天、90天或180天，该证即被称为远期信用证。在远期信用证项下，开证行承诺只要开立的汇票符合信用证的条款，在提示时将被及时承兑、在到期时被及时付款。 Function clause: P1263. Usance letter of credit payable at sight 远期信用证即期付款 Under this credit, the beneficiary will receive payment at sight and the discount charges and acceptance commission are for the account of the applicant. 对于这种信用证（假远期信用证），受益人可以取得即期付款，而贴现费用和承兑手续费是由申请人支付。6.2.4 6.2.4 According to whether the credit can be transferred or not 按信用证是否可以转让分类按信用证是否可以转让分类 1. Transferable credit 可转让信用证 可转让信用证是指信用证的受益人（第一受益人）可以请求授权付款、承担延期付款责任、承兑或议付的银行（转让行），或如果是自由议付信用证时可以要求信用证特别授权的转让行，将信用证全部或部分转让给一个或数个受益人（第二受益人）使用的信用证。 A credit under which the beneficiary ( the first beneficiary ) may request the bank authorized to pay, incur a deferred payment undertaking, accept or negotiate ( the transferring bank ), or 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 ). 一张信用证只有在被开证行指明为“transferable”时才可以转让。其它措辞如：“divisible”（可分割）、“fractionable”（可分开）、“assignable”（可让渡）和“transmissible”（可转移）等均不致使信用证可转让。如果这些措辞被使用，则不予理会。 可转让信用证只能转让一次，第二受益人不可以进一步转让。Characteristics of transferable credit 可转让信用证的特点It enables a middleman who is received payment from a buyer to transfer his claim under the credit to his own supplier.The issuing bank must expressly designate the credit as “transferable” and in favor of the middleman.Two methods to transfer the beneficiarys right: Assignment and Transfer: Assignment relates only to the assignment of proceeds and not to the assignment of the right to perform under the credit.（UCP600第39款）Working flow of transferable credit 可转让信用证的运作程序Types of transfer 转让类型Total transfer 全额转让Partial transfer 部分转让Transfer without substitution of invoice 不替换发票的转让Transfer with substitution of invoice 替换发票的转让Transfer according to the original clause 按照原条款转让Transfer with some clauses being changed 更改部分条款转让The name and address of the first beneficiaryUnit prices and total amount of the creditThe expiration date, the final shipment date, the final date of for presentation of documentsInsurance coverageAmendment to the transferable credit 可转让信用证的修改 由于最终买方和实际供货商被中间商分隔开来，就产生了怎样处理修改的问题。根据UCP500第48(d) (UCP600第38e)的规定，受益人在申请信用证转让并且转让之前必须不可撤销地指示转让行是否可以将修改通知给第二受益人。关于修改通知受让人的权利包括：Retainment of rights on amendment 保留修改权利： 受益人不允许转让行把原证修改直接通知受让人的权利，因此转让行必须先获得受益人的准许方可将修改通知受让人。 第一受益人需要调换发票赚取差价时就要采用这种方式。有时第一受益人可将特殊修改不通知第二受益人，如提高货物单价的修改。Partial waiver of rights on amendment 部分放弃修改权利：对于除去下列修改以外，受益人放弃不允许转让行把原证修改直接通知受让人的权利。对于增额及/或展期的修改，受益人不给予转让行直接通知修改的权利，必须在得到受益人同意后方可通知受让人。所有其他修改可以直接通知受让人。Waiver of rights on amendment 放弃修改权利：受益人放弃不允许转让行把原证修改通知受让人的权利，因此所有修改可以直接通知受让人。 第一受益人不要调换发票不赚取差价时，就采用这种方式，这对于第二受益人十分有利。2. Non-transferable credit 不可转让信用证6.2.5 According to the mode of availability 根据付款方式分类根据付款方式分类 1. Payment credit / Sight credit 付款信用证/即期信用证 A payment credit is a credit available by payment, under which a bank ( the issuing bank/a third bank/ the advising bank ) specifically nominated therein is authorized to pay against the shipping documents with or without a draft presented in conformity with the terms of the credit. Whenever payment is made, it becomes a final payment without any right of recourse. 即期付款信用证的指定付款行可以是开证行、通知行或任何其它的第三家银行。 2. Acceptance credit 承兑信用证 The draft thereunder must be a time bill drawn on the issuing bank, advising bank, or any other drawee bank. The purpose of an acceptance credit is to give the importer time to make payment.3. Deferred payment credit 延期付款信用证 Under this credit, the beneficiary does not receive payment when he presents the documents, but at a later date specified in the credit. 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. 在延期付款信用证项下，受益人在提示单据时不能获得付款，而要在信用证规定的较晚的日期。在这种付款方式中，进口商在付款之前就获得了单据（并且因此而获得了商品或服务）。延期付款信用证不要汇票。 Function clause: P1354. Negotiation credit 议付信用证 议付信用证是一种由授权的特别指定的银行议付的信用证，或者由任何银行自由议付的信用证。所谓的议付是指由授权议付的银行从受益人那里买下汇票或者对汇票及/或单据支付对价。在这种情况下，议付行成为正当持票人。对汇票及/或单据的议付可以向受益人追索，除非信用证已被议付行保兑。 It is one under which a bank specifically nominated therein is authorized to negotiate or one, which is freely negotiable by any bank. The so-called negotiation is to buy the draft from the beneficiary or to give value for draft and/or documents by the bank authorized to negotiate. In this case the negotiating bank becomes a holder in due course, it is with recourse to the beneficiary unless the credit has been confirmed by the negotiating bank. Types of negotiation creditFree negotiation credit 自由议付信用证This credit is available by negotiation with any bank. Function clause: P136Restricted negotiation credit 限制议付信用证The negotiation is restricted to a bank nominated therein and the beneficiary must present his documents to the bank so nominated.Non- negotiation credit (Straight credit)不可议付信用证The obligation of the issuing bank is extended only to the beneficiary in honor draft(s) / document(s) and usually expires at the counters of the issuing bank. 贴现与议付的比较贴现与议付的比较 贴现与议付都是融通资金，两者异同如下：1、贴现与议付的相同点（1）两者都是票据和对价的对流。（2）两者都是扣收利息、付给净款、然后收回票面金额的融资业务。（3）贴现人付款给持票人是有追索权的，同样，议付行付款给受益人也是有追索权的。2、贴现与议付的不同点（1）持票人以贴现方式出售的票据有汇票和本票两种，都是远期的。银行议付光票或跟单汇票，只有汇票一种，也可以没有即期汇票而是议付全套单据。（2）贴现汇票的必要条件是承兑，承兑人是银行。议付跟单汇票的必要条件是汇票单据须符合信用证条款。（3）较大城市都有票据贴现市场或票据再贴现市场，但是没有议付汇票市场。（4）贴现票据可以存放至到期日提示要求付款，也可以在到期日以前提示要求再贴现。议付后的跟单汇票不能存放在议付行自己手中，必须寄至开证行要求偿付。6.2.6 According to special function clause 按特殊特殊条款分类 1. 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. 在跟单信用证的条款和条件下，不需要特别修改，信用证的金额可以恢复或重新使用的信用证。Types of credit:Automatic revolving 自动循环 每期金额用完，不必等开证行通知，即可自动恢复到原金额使用。 Function Clause: P139Notice revolving (Non- Automatic revolving) 非自动（通知）循环 每期金额用完，必须等开证行通知到达后，L/C才能恢复到原金额使用。 Function Clause: P139Periodic revolving (Semi- Automatic revolving) 半自动（定期）循环 每次议付后一定时期内开证行未提出停止循环使用的通知，则在下次时期开始时，就可恢复到原金额使用。 Function Clause: P140Cumulative revolving 累计循环 凡是上次未用完的信用证余额，可以移到下次一并使用的称为累计循环信用证。Function Clause:Non- Cumulative revolving 非累计循环2. Back-to-back documentary credit 背对背跟单信用证 背对背信用证在开给出口商（中间商）的信用证不能转让或虽能转让但不符合他的要求的时候使用。出口商，即第一信用证的受益人将其作为开立第二信用证时向通知行或它的银行提供的保障。换句话说，两个信用证“背对背”开出，一个信用证以另一个信用证为担保开出。 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. In other words, the two credit are put “back to back”, the one being issued on the security of the other. A back-to-back documentary credit involves two separate documentary credits. With back-to-back documentary credit, the second credit should be worded so as to produce the documents (apart from the commercial invoice) required by the primary credit, and to produce them within the time limits set by the primary credit, in order that the primary beneficiary under the first credit may be able to present his documents within the time limits of the first credit.背对背信用证与可转让信用证的比较：背对背信用证的开立并非原始信用证申请人和开证行的意旨，而是受益人的意旨，申请人和开证行与背对背信用证无关。 可转让信用证的开立是申请人的意旨，开证行同意并在信用证上加列“transferable”字样，始可开出可转让信用证。原始证和背对背证是两个完整、独立的信用证，连同两个完全独立的开证行的付款承诺。 可转让信用证不仅其生存和收到的条款和条件（允许变更的除外）均来自于原始可转让信用证，而且其使用也来自于原始可转让信用证。背对背信用证的第二受益人得不到原始信用证开证行的付款保证。 可转让信用证的第二受益人可以得到开证行的付款保证。开立背对背信用证的银行就是该证的开证行。 转让行按照第一受益人的指示开立变更条款的新的可转让信用证，通知第二受益人，该转让行的地位不变，仍是转让行。3. Reciprocal credit 对开信用证对开信用证 对开信用证是通常用于易货贸易的一种结算方式。它类似于一般商业信用证，除了第一张信用证的开证申请人就是回头证（第二张信用证）的受益人，同时第一张信用证的受益人也是回头证的开证人。P143 A reciprocal credit is usually concerned with a barter transaction. It is in all respects similar to an ordinary commercial credit except that the opener of the original credit may become the position of the beneficiary of the reciprocal credit, while the beneficiary of the original credit may become the opener of the reciprocal credit. In other words, they are both importers and exporters at the time.4. Red clause / Anticipatory credit 红条款/预支信用证 它是一种装运前的融资方式，目的是帮助出口商生产或获得所销售的商品。它是一种包含有特殊条款的信用证，该条款授权通知行或其他指定的银行在受益人交单之前对其预先付款。之所以成为红条款是因为这种条款最初用红墨水书写以便引起对这种跟单信用证的特殊性质的注意。现在已经很少使用。 Function clause: P145 It is a kind of pre-shipment financing intended to assist the exporter in the production or procurement of the goods sold. A red clause L/C places the onus of final repayment on the applicant, who would be liable for repayment of the advances and all costs if the beneficiary failed to present the documents called for under the credit.5. Standby credit 备用信用证 P145 无论如何命名或描述，备用信用证是一种跟单信用证或类似的安排。它代表开证行对受益人所承担的以下一项义务（1）偿还申请人的借款或偿还对申请人给予的垫款；（2）代申请人支付其所承担的任何债务；或（3）对申请人在履行义务时的毁约承担付款责任。 The standby credit is a documentary credit or similar arrangement, however named or described, which represents an obligation to the beneficiary on the part of the issuing bank to: (1)repay money borrowed by the applicant, or advanced to or for the account of the applicant; (2)make payment on account of any indebtedness undertaken by the applicant; or (3)make payment on account of any default by the applicant in the performance of an obligation.6.2.7 Combined Function Credits 兼具多种功能的信用证1. Irrevocable straight documentary credit 不可撤销的直接信用证 1) Definition: It conveys a commitment by the issuing bank to only honor drafts or documents as presented by the beneficiary of the credit. 不可撤销的直接信用证由开证行承诺只对信用证的受益人交来的汇票或单据付款。 2) Characteristics: The obligation of the issuing bank is only extended to the beneficiary and usually expires at the counters of the issuing bank.3) Advantage / disadvantage: It is of greatest advantage to the applicant.4) Function clause: P1482. Irrevocable negotiation documentary credit 不可撤销的议付信用证 1) Definition:不可撤销的议付信用证由开证行约定对于由受益人或任何在跟单信用证下可能议付或买下受益人汇票或单据的第三方提交的汇票或单据付款。 2) Characteristics: The beneficiary may ask a third bank or financial institution to negotiate or purchase and resell drafts and documents as presented under the L/C. This assures anyone who authorized to negotiate draft / documents that this draft / documents will be duly honored by the issuing bank so long as the terms and conditions of the credit are complied with. 3) Advantage / disadvantage: It is of advantage to the seller in that he doesnt have to wait until the issuing bank reviews the documents to get paid the proceeds under the credit. 4) Function clause: P1493. Irrevocable unconfirmed documentary credit 不可撤销的不加保兑信用证 1) Definition: 2) Characteristics: 3) Advantage / disadvantage: 4) Function clause4. Irrevocable confirmed documentary credit 不可撤销的保兑信用证 1) Definition: 2) Characteristics: 3) Advantage / disadvantage: 4) Function clause复习思考题：信用证结算方式有什么特点？相对于其它的结算方式有什么优势？可转让信用证与背对背信用证在转让信用证权利方面有什么不同？议付和贴现有何异同？根据付款方式划分，信用证分为哪些类型？分别具有什么特点？期中作业：期中作业：1、什么是汇票抬头？举例说明汇票抬头的不同写法（举例要求用英文表述所有写法）并说明其对汇票流通转让的影响。2、银行之间的偿付方法有哪些类型？试举例说明（举例要求用英文表述每种写法中的一种）。3、国际汇兑方式的利弊分析。4、信用证结算方式有什么特点？相对于其它的结算方式有什么优势？5、根据付款方式划分，信用证分为哪些类型？分别具有什么特点？Chapter Seven L/C Practice信用证实务信用证实务7.1 Operation Of Import Credit 进口信用证实务进口信用证实务7.1.1 Application Of Documentary credit 跟单信用证申请7.1.2 Security arrangement 保障协议7.1.3 Issuance of the credit 信用证的开立7.1.4 Amendment of the credit 信用证的修改7.1.5 Examination of documents and dishonor 审单和拒付7.1.6 Accepting / Paying / Reimbursing 承兑/付款/偿付7.2 Export Credit Operation 出口信用证实务出口信用证实务 7.2.1 Review the credit 审证 7.2.2 Advising / confirming 通知/保兑 7.2.3 Examination of documents 审单 7.2.4 Discrepancies in the documents 单据的不符点7.2.5 Accepting / Paying / Negotiating 承兑/付款/议付7.2.6 Claim 索偿7.3 Credit as a Means of Finance 信用证融资信用证融资7.4 Risk Protection 信用证的风险防范信用证的风险防范7.1 Operation Of Import Credit 进口信用证实务进口信用证实务 There are six major groupings of steps in the import credit operation.7.1.1 Application Of Documentary credit 跟单信用证申请 进口商申请开立跟单信用证时，他会要求他的银行对供货商作出付款承诺。显然，银行一般来说只有在相信申请人的偿付能力时才会同意这种要求。因此，申请人必须或者在开证行的帐户有足够的存款或者被授予的信用额度足够弥补信用证金额。 When the importer applies for the issue of a documentary credit, he is requesting his bank to make a promise of payment to the supplier. The applicant must therefore either have adequate funds in his account with the issuing bank or have been granted a credit line sufficient to cover the amount. 在设计信用证的条款和条件时进口商要非常谨慎小心。在信用证里面完整准确地规定各种条件和条款可以最大限度地保障所订购的货物能及时、完好并按约定的价格提供；如果是劳务贸易，则可以最大限度地保障能按约定的条件提供劳务。 在制定信用证条款时要谨慎的另一个原因是：在法律上，信用证完全独立于它所基于的交易。银行处理的是单据而不是货物。 When importer formulates the terms and conditions of the credit, he must be with care. He should seek advice from the banks specialist. The reasons are: (1) Complete and precise terms and conditions in the credit offer the best assurance that the ordered goods will be dispatched promptly, in good condition and at the agreed price. (2) A further reason for care in drawing up the credit terms is that the credit is legally quite independent of the underlying transaction, banks deal in documents and not goods. Rules to follow for the applicant: (1) Refer to documents only, not to the goods themselves; 只涉及单据 (2) Be clear and concise, free from excessive details 清楚和准确，避免过多细节The more detailed the documentary credit is, the more likely the seller will reject it as too difficult to fulfill, the more likely that banks will find a discrepancy in the details, thus voiding the credit. (3) Do not specify impossible documentation 不要指定卖方不可能提供的单据The application should include, amongst other details, the following elements:P164(1) The full name and address of the applicant; 申请人完整（和正确）的名称和地址(2) The issuing bank; 开证行(3) Date of application; 信用证的申请日期(4) The expiry date and place for presentation of documents; 单据的有效期和到期地点(5) Beneficiary; 受益人(6) (8) The mode of transmitting the credit: 信用证的传递方式 By airmail, brief advice by tele-transmission, by tele-transmission(9) Whether it is transferable; 是否可转让(10) Confirmation; 保兑(11) Amount; 金额An exact total numberA maximum amount An approximate amount: According to UCP600, Art.30a, the words “about” or “approximately” used in connection with the amount of the credit are to be construed as allowing a tolerance not to exceed 10% more or 10% less than the amount.(12) Credit availability; 信用证的可用性 UCP500第10（b)款（UCP600第7(a)款）阐明：除非信用证规定只能由开证行使用，一切信用证均须指定某家银行（“指定银行”Nominated Bank）并授权其付款、承担延期付款责任、承兑汇票或议付。对自由议付的信用证，任何银行均为指定银行 信用证适用于： 即期付款 在XX日期延期付款 承兑 议付(13) Whether partial shipment is allowed; 是否允许分批装运(14) Transshipment; 转船(15) Insurance; 保险 The insurance value of the goods is fixed on the basis of the formula “ CIF value cost plus at least 10%”. This 10% represents the “notional profit”.(16) Transport detail; 运输细节(17) Brief description of the goods; 简要的货物描述 Including details of quantity and unit price. The bank should discourage applicants from including an excessively detailed description of the goods, since this could lead to confusion and misunderstanding.(18) Trade terms; 贸易术语(19)(23) Details of the documents required; 要求的单据的详细情况(24) The latest date for presentation of the documents; 最迟交单日期 P166 If no the latest date for presentation of the documents is specified in the credit, banks will refuse documents to them later than 21 days after the date of issuance of the transport document according to UCP600, Art.14c. (25) Additional instructions; 附加的指示(26) Settlement; 结算方式(27) Signature. 签字7.1.2 Security arrangement 保障协议保障协议 As a precautionary measure, security for opening a credit is usually required from the applicant by the issuing bank. The security arrangement may take the following form: 作为预防措施，开证行通常要求申请人提供开证保障。保障协议可以采用下列形式：(1) Margins 保证金It may take the form of cash or advance deposit placed at the issuing bank.(2) Line of credit 信用额度It may take the form of an overdraft or a loan facility if the credit standing of the applicant is satisfactory.(3) Third party guarantee 第三方担保 The applicant may obtain guarantee from his parent company or business associates if the latters credit-worthiness is sound.7.1.3 Issuance of the credit 信用证的开立信用证的开立 1. Reviewing the documentary credit application 审查跟单信用证开证申请 Bank should carefully check the application for the following points:uTo ensure that the terms and conditions of the credit are in compliance with the policies of the bank and in accordance with the legal requirements or regulations of the issuing bank.uTo see if every detail is correctly completed.uTo see whether the bank is authorized to choose its own correspondent for advising the credit.uTo see whether the application requires to submit any documents, the performance or production of which is totally dependent on the performance by a third party not controlled by the beneficiary, or whether there are any “non-documentary conditions” stated in the application. 2. Completion of standard documentary issuance form 完成标准的信用证格式 (P169)3. Transmitting the documentary credit 跟单信用证的传递 (1) Issue by mail 信开信用证 Possibly preceded by a brief advice by teletransmission. (2) Brief advice by teletransmission 简电通知 The operative credit will be the mail advice subsequently sent. (3) Issue by teletransmission 电开信用证 Unless otherwise indicated within the message, the teletransmission is the full operative credit.7.1.4 Amendment of the credit 信用证的修改 When the beneficiary receives the documentary credit, he must examine it closely to see if the terms and conditions reflect the agreement of the buyer and the seller and can be met within the time limit stipulated. If there is anything he disagrees with, he must contact the applicant and the issuing bank for amendment. Sometimes the buyer or his bank may also want to amend some of the terms and conditions of the credit. 1. Problems the beneficiary may often find 2. Procedure for amendment of the credit P172 3. The standard amendment form P1737.1.5 Examination of documents and dishonor 审单和拒付 1. General principle 审单的原则建立在国际商会和国际银 行协会订立的UCP600规则的基础上， 即：一方面单据必须与信用证的条款和条 件保持一致，另一方面单据和单据之间必 须保持一致。 The principles for examining documents are based upon the UCP500 rules (UCP600 Art.14, 15), that is: the documents must comply with the terms and conditions of the letter of credit on the one hand and they must be consistent with each other on the other hand. The Rule to follow:” Whatever the letter of credit stipulated must be carried out” Some important principles to keep in mind:uBanks deal exclusively with documents not with goods;uBanks observe the rule of “strict compliance”;uBanks assume no responsibility for authenticity, form or validity of the documents; uBanks assume no responsibility for the act of the third parties taking part in the credit operations. 2. General checklist 一般的检查列表 (P176) The case study of discrepancy.7.1.6 Accepting / Paying / Reimbursing 承兑/付款/偿付 开证行收到国外银行交来的单据后应仔细审查。如果单据符合信用证要求，开证行或者自己付款，或者按照规定对信用证项下的保兑行或任何其他已经付款、承兑或议付的银行进行偿付。 Upon receipt of the documentation sent by the bank aboard, the issuing bank should check them carefully. If the documents meet the credit requirements, the issuing bank has to either effect payment, or make reimbursement to the confirming bank or any other bank that has paid, accepted or negotiated under the credit. If the documents dont meet the credit requirements, the issuing bank must inform the bank sending the documents of the refusal of payment. 1. Review the documents 审查单据 The issuing bank must pay attention to the following points:(1) Banks must examine all documents stipulated in the credit with reasonable care.(2) Documents not stipulated in the credit will not be examined by banks.(3) A nominated bank acting on its nomination, a confirming bank, if any, and the issuing bank shall each have a maximum of five banking days following the day of presentation to determine if a presentation is complying.()(4) If the issuing bank decided to refuse the documents, it must give to that effect by expeditious means without delay. (5) Such notice must state all discrepancies and also state whether it is holding the documents at disposal of, or is returning them to, the presenter. 2. Discrepant documents and procedures to be taken by the issuing bank 不符单据及开证行采取的步骤 If the issuing bank finds discrepancies in documents, it can choose from several options.(1)Refuse to accept the documents and return them to the advising or confirming bank.(2)If the discrepancy is not material to the transaction, it can ask the buyer for a waiver for specific discrepancy. P176(3) The seller may request the opening bank to present the documents to the buyer on a collection basis.(4) To pay, negotiate or accept with reserve or against indemnity, that is to say, the bank has recourse to the beneficiary. 3. Reimbursement under a letter of credit 如果交易使用代理行当地的货币，该行可以将此金额借记开证行帐户。 如果信用证金额使用的是开证行所在国货币，则开证行将贷记代理行帐户。 如果信用证使用的是第三国货币，结算就会不那么简单。开证行必须授权一家在相关货币区域的银行立即贷记或转移所欠的金额给代理行。 If the transaction is conducted on the local currency of the correspondent bank, this bank can debit the amount to the issuing banks account. If the amount of the credit is expressed in the currency of the issuing banks country, the issuing bank will credit the amount of the correspond bank. In the case of a documentary credit issued in a third currency, settlement is not quite simple. The issuing bank has to authorize a bank in the respective currency area to credit or transfer the owed amount on demand to the correspond bank.If it is a sight credit, the reimbursement methods are as follows: P176T/T reimbursementClaim on the issuing bankClaim on the reimbursing bankReimbursement by airmailReimbursement by debiting the issuing banks account with the negotiating bank or the paying bank. Reimbursement by electronic transfer system 通过电子交换系统偿付If it is a usance credit, the reimbursement clauses are as follows: (P177)7.2 Operation Of Export Credit 出口信用证实务出口信用证实务7.2.1 Review of the credit 审证 Upon receiving the L/C opened by the overseas correspondent bank, the advising bank should check the signature or the test code of the credit to determine the apparent authenticity of the credit and then advise the credit to the beneficiary. According to UCP, the advising bank has no liability to check it further, such banks usually review the clauses of the credit for the purpose of good banking service. The beneficiary must also carefully review the credit. 7.2.2 Advising / confirming 通知/保兑 1. Advising / confirming 2. Utilization by the beneficiaryUtilization is the process of the seller shipping the goods, presenting the documentation and getting paid.Before the beneficiary presents the documents to his bank he must ensure that they meet all the requirements laid down in the credit. The following “3C principle” applies to the exporters documentation.(1) Completeness: All the documents called for must be presented.(2) Correctness: The documents must not contravene any stipulation of credit.(3) Consistency: They must not be at variance with each other.7.2.3 Examination of documents 审单审单 The seller prepares and presents all the documents as required by the credit to the nominated bank. The advising / confirming bank reviews the document package making certain the documents are in conformity with the terms and conditions of the credit. 1. Examining a draft P182 2. Examining the commercial invoice P182 3. Examining the transport documents P183 4. Examining the insurance document P1835. Most common discrepancies in examination of documents Perhaps the greatest problem associated with documentary credits is discrepancies with documents as they are prepared, presented and examined by sellers, buyers, and the banks. The most common discrepancies occurring in a credit transaction are as follows: P1847.2.4 Discrepancies in the documents 单据的不符点 Irregular documents must be returned by the bank to the beneficiary within a maximum of five banking days. It must sometimes be possible for the beneficiary to amend the documents or get them corrected and to resubmit them before the credit expires. The advising bank / confirming bank has several options in dealing with discrepant documents: P1847.2.5 Accepting / Paying / Negotiating 承兑/付款/议付7.2.6 Claim 索偿 1. Claim for reimbursement 2. Payment refused by the issuing bank 3. Settlement with the applicant 7.3 Credit as a Means of Finance 信用证融资信用证融资7.3.1 Finance to the Exporter When the exporter will or has received a L/C, but he is unable to finance the purchase or production of the goods that are to be delivered, banks are requested to pre-export financing so that the exporter may fulfill his contractual obligations and profit from the transaction. Such financing arrangements include: Red clause L/C and transferable credit; Other arrangements include: 1. Packing Loan 2. Negotiation and Outward Bill Purchased 3. Banks considerations when granting finance P188 4. How to minimize risks7.3.2 Finance to the Importer 1. Deposit Margin for Issuing a Credit 2. Advance against Inward Documentary Bills 3. Advance against Trust Receipt7.4 Risk Protection of L/C 信用证的风险防范信用证的风险防范 Documents supporting L/Cs that are susceptible to forgery are: bill of lading, commercial invoices, insurance certificates and certificates of quality. Whenever being approached by an unusual transaction with unknown parties, importers and banks should exercise extreme caution to avoid becoming involved in fraudulent transactions. The best way to avoid fraud is to have a detailed investigation about the creditworthiness of the prospective trader.复习思考题：进口商申请开立信用证时应遵循哪些原则？开证行在开证时主要审查开证申请书的哪些内容？开证行在审单时应注意哪些问题？如发现不符点应如何处理？在信用证项下，银行对出口商进行装运前的融资是怎样运作的？这种融资对出口商和融资行分别有什么优缺点？指出至少五种银行控制融资风险的方法。Chapter 8 Documents Under the Credit信用证项下的单据信用证项下的单据8.1 Introduction to Documents 单据概述单据概述8.1.1 Importance of documents in international settlements 单据在国际结算中的作用 In the process of international trade settlements, the relevant parties are dealing with documents, not goods. Documents are at the heart of all forms of international payment. It is, therefore, essential to have a good knowledge of the function of the different kinds of documents, their limitations as well as the specific problems that may possibly arise when handling them.8.1.2 Some issues relating to documents under the credit 信用证项下有关单据的一些问题 1. Ambiguity as to issuers of documents 对于单据开立者的含义模糊 根据统一惯例的条款，如果在信用证中使用诸如“第一流的”、“著名的”、“合格的”、“独立的”、“正式的”、“有资格的”、“当地的”以及类似的词语来描述信用证项下的出单人，只要这些单据的表面与信用证相符并且不是由卖方（受益人）出具的银行将照予接受。 2. Originals 正本 除非信用证另有规定，银行将有权接受下述方法或从表面上看是用下述方法制作的单据作为正本单据：影印(copy machine)、计算机系统处理(computer system)或复写(carbon copies)等方法。但条件是上述方法制作的单据须加注“正本”(original)的字样，并且如有必要，在表面签名。 3. Authentication 证明 Banks are not responsible for the verification of the certification or authorized signature. Certificates must usually bear the signature of the issuer.4. Signature 签名 Banks are authorized to accept documents that have been signed by facsimile(摹写), perforated signature(穿孔签字), stamp(印章), symbol(记号), or any other mechanical or electronic method.5. Unspecified issuers or contents of documents 没有规定单据的开立者或内容 P2026. Issuance date 开立日期8.2 Types of Document 单据的分类单据的分类8.2.1 Financial document 资金单据 (1) Draft (2) Promissory note (3) Check8.2.2 Commercial documents 商业单据8.2.3 Shipping documents 运输单据8.2.4 Insurance document保险单据8.2.5 Miscellaneous documents 其它单据8.3 Invoice 发票发票8.3.1 Definition of Commercial Invoice 商业发票的定义 The commercial invoice is the key accounting document describing the commercial transaction between the buyer and the seller. It is a document giving details of goods, service, price, quantity, settlement terms and shipment. 商业发票是描述买卖双方某笔交易的一种主要的记账单据。它列出了商品、劳务、价格、数量、付款条件和装运的有关细节。 It includes the following elements: P2038.3.2 Customs invoice 海关发票 海关发票是进口国海关要求提供的一种特殊的发票，用来确定进口商品的价值和原产地。它由出口商准备。 Certain elements are likely to be include in all customs invoice:P2048.3.3 Consular invoice领事发票8.3.4 Legalized invoice 认可发票8.4 Transport Documents 运输单据运输单据8.4.1 Bill of lading 提单 提单由承运人开给发货人，并由船长、运输代理或船主签字，作为收到货物进行运输的证明，以及承诺将货物运往指定的目的地并交给提单的合法持有人的书面凭证。 A bill of lading is a document issued by a carrier to a shipper, signed by the captain, agent, or owner of a vessel, providing written evidence regarding receipt of the goods (cargo), the conditions on which transportation is made (contract of carriage), and the engagement to deliver goods at the prescribed port of destination to the lawful holder of the bill of lading. 1. Basic functions of a bill of lading As a receipt of the goods from the shipping company to the exporter; As evidence of the contract for carriage between the exporter and the carrier; As a quasi negotiable document; As document of title. 2. Specimen bill of lading P210 3. Different types of bill of lading P214Multi-model / Combined transport bill of lading 多式联运提单Transshipment bill of lading 转运提单Container bill of lading 集装箱提单Straight bill of lading 直运提单Shippers order bill of lading 托运人抬头提单Marine bill of lading / Conventional ocean bill of lading 海运提单Short form bill of lading 简式提单Charter party bill of lading 租船合约提单：是由船只的承租人开给出口商的提单。此类型提单的运输条款受制于船主与承租人之间的租船合同。这种提单上通常注明受制于租船合同，因此它通常不被视为物权凭证。Liner bill of lading 班轮提单：班轮是指由公共运输商（Common Carrier）经营，公布船期，按规定航线行驶，向公众揽货的船舶。班轮提单的运费等规定是公开的，对收货人比较有利，因此根据惯例银行接受班轮提单。8.4.2 Marine / Ocean / Port to port bill of lading 海洋运输提单/港到港运输提单 海洋运输提单是一种适用于港至港货物运输的运输单据（只通过海洋的货物运输）。 The marine bill of lading contains the following key elements: P2128.4.3 Non-negotiable sea waybill / ships waybill 不可转让的海运单 海运单的功能类似于正规提单，只是它不可转让，因此不是物权单据。货物到达目的地以后，只需验证收货人的身份便可以交货。因此，收货人无须出示提单便可以提货海上货物运输的国际公约： 提单在国际贸易中用作转移货物的媒介。如果各国法律不同，各个承运人又自行其事，那么收货人的权力就没有保障。此外，承运人的责任范围也需要有一个规定。管辖提单的国际公约就是出自上述考虑而产生。海牙规则(Hague Rules) 1924年在布鲁塞尔通过。其基本精神是确认承运人最低责任限度，提单上低于这一标准的规定一概无效。 承运人的责任属不完全过失责任，即对于管理货物的疏忽必须负责，但对于管理与驾驶船舶的过失可免责。承运人或是船舶，在任何情况下对货物或与货物有关的灭失或损害，每件或每计费单位超过一百英镑或与其等值的其他货币的部分，都不负责。 维斯比规则（Visby Rules) 全称是修改海牙规则的议定书。随着国际政治、经济形势的变化，以及航海、造船技术日新月异的进步，使海上运输方式发生了重大变革，特别是集装箱运输方式的出现和迅猛发展，海牙规则的内容已不适应新形势发展的需要。尤其关于承运人的大量免责条款明显偏袒船方利益，通货膨胀的现实使100英镑的赔偿限额明显过低等原因，到了50年代未，要求修改海牙规则的呼声日渐强烈。 维斯比规则于1977年6月23日生效。但该规则未对海牙规则的基本原则作实质性修改，只是提高了货物损害赔偿的最高金额，规定承运人的责任限制金额为每件或每单位，或按货物毛重计算每公斤2SDR，两者中以较高者为准。明确了集装箱和托盘运输中计算赔偿的数量单位和扩大了公约的适用范围，所以只是一些保守的海运国家为了阻碍根本修改海牙规则的产物。 汉堡规则（Hamburg Rules) 1978年在汉堡通过，于1992年11月1日起正式生效。成员国中绝大数为发展中国家，占全球外贸船舶吨位数90的国家都未承认该规则。该规则全面修改了海牙规则，主要内容包括：1、扩大了承运人的责任。把承运人的责任改为对驾驶与管理船舶的过失也负责的“完全过失责任制”。2、承运人的责任期间。与海牙规则的“钩至钩”或“舷至舷”相比，其责任期间扩展到“港到港”。3、承运人赔偿责任限额。承运人对货物灭失或损坏的赔偿，以每件或其他装运单位的灭失或损坏相当于835特别提款权或毛重每公斤特别提款权的金额为限，两者之中以其较高者为准。较之海牙-维斯比规则的规定提高了25。8.4.4 Air waybill 空运单 The air waybill contains the following elements: P2188.4.5 Charter party bill of lading 租船合约提单 The charter party bill of lading contains the following elements: P2208.4.6 Road or inland waterway transport documents 公路、内河航运单据8.4.7 Cargo receipt / Railway bill 货运收据/铁路运输单8.4.8 Courier receipt 快邮收据8.4.9 Post receipt 邮包收据8.4.10 Combined transport documents (CTD) 混合运输单据8.5 Insurance Documents (or Certificate) 保险单据保险单据/保险证明保险证明8.5.1 Introduction to insurance documents 保险单据介绍 保险单是保险商和投保人之间的保险合同，由保险商向投保人承诺如发生某些风险（也就是在运输过程中发生的某些损失），由保险商按约定方式赔偿投保人。 UCP600, Article 28 is about stipulations of insurance document and coverage. P223 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”. 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.8.5.2 The contents of an insurance policy 保单的内容8.5.3 Classification of insurance documents 保单的分类 P228 1. Insurance policy 保险单 2. Insurance certificate 保险证明 3. Floating policy 流动保险单或不定名保单 4. Open cover 预约保险 5. Cover note 暂保单保险险别概况保险险别概况 保险单上保险人的责任是用险别名称来表示的，如：平安险、水渍险等，险别的作用是规定保险人对某些货物损失的赔偿责任。(一)损失。险别是根据损失原因和损失类型两方面来确定保险人的责任的。损失原因自然灾害意外事故，如：搁浅、触礁、沉没、碰撞、爆炸、失火等。一般外来原因，如：偷窃、承运人短交货物、雨淋、钩损、串味等。特殊外来原因。包括战争、罢工、拒收等。这类原因造成的损失程度通常非常严重，这类损失往往列在保险单中保险人“除外责任”的范围里。损失类型全损(Total Loss)实际全损(Actual Total Loss)：指货物的全部灭失，或已失去原有的性质和用途。推定全损(Constructive Total Loss)：指整理修复使货物恢复原状的费用超过恢复后的价值，或货物在中途出险，将货物运至原定目的地的费用超过该目的地的货价等情况。部分全损：是货物中可以分割的一部分的损失。部分损失(Partial Loss)共同海损(General Average)：海损，是指货物运输途中因自然灾害及意外事故造成的损失；共同海损，是指为了保证同一航程中遇险财产的共同安全和免除危险所作出的有意而又合理的特殊牺牲和支出的特殊费用。目前，共同海损的牺牲由船舶、货物与运输按三方比例分摊。单独海损(Particular Average)：是指属于特定方面的损失，并不涉及其它货主及船方。这种损失是意外发生的，不象共同海损是有意的。单独海损一定是部分损失。因此保险上的单独海损概念是既非共同海损又非全损的一种损失。（二）基本险别。是指可以单独投保的险别。根据1981年1月1日生效的中国保险条款，包含的险别如下：海洋运输保险平安险(F.P.A-Free From Particular Average)：字面理解即“单独海损不赔”。保险人在承保这种险时，对全损与共同海损负责，由于竞争，目前保险人对意外事故造成的单独海损也负责。保险人对外来原因造成的损失不负责。水渍险(With Particular Average，简称或W.A)字面理解即单独海损也赔。保险人的责任是在平安险的基础上再加自然灾害造成的单独海损。一切险(All Risks)。在水渍险的基础上，保险人还负责赔偿一般外来原因造成的损失，即一般附加险包括的责任。（三）一般附加险别： 由一般外来原因造成的损失（四）特殊附加险别： 是承保特殊外来原因造成的损失的险别。特殊附加险经保险人特别同意才予承保，费率一般面议。特别附加险其实是没有范围限制的，保险人可以对任何损失保险。（五）协会货物条款 英国伦敦协会货物条款（Institute Cargo Clauses，缩写为ICC）得到了世界保险界和贸易界的广泛接受，我国保险公司也可接受信用证要求投保的险别条款采用协会货物条款。 协会货物条款将海洋货物运输保险的险别分为两大类，即海险和战争/罢工险。 海险分为（A）条款、（B）条款、（C）条款。8.6 Miscellaneous Documents 其他单据其他单据8.6.1 Certificate of origin 原产地证书8.6.2 Inspection certificate 检验证书8.6.3 Packing list / Weight list 装箱单/重量单8.6.4 Export license 出口许可证8.6.5 Beneficiarys statement 受益人证明8.6.6 Cable copy 电报副本 Chapter 9 International Factoring and Forfeiting国际保理与福费廷国际保理与福费廷9.1 Factoring 帐款保理帐款保理9.1.1 Definition 保理的定义 Factoring is the purchase of claims, arising from sales of goods, by a specialized company known as factoring company or factor. Factoring is in fact a three-party transaction between a financial institution (the factor) and a business entity (the client, i.e. the exporter) selling goods or providing services to foreign debtors (the clients customer, i.e. the importer). 简单地说，账款保理是由被称之为保理公司或保理行的专业公司购买由于货物销售而产生的债权。实际上，保理是金融机构（保理行）与销售货物或提供服务给国外债务人（客户的客户，即进口商）的企业实体（客户，即出口商）之间的三方交易。1. The essence of factoring The essence of factoring is the discounting of acceptable accounts receivable on a non-recourse and notification basis. Customers are notified to remit directly to the factor. Clients are thus able to eliminate or reduce the need for credit, bookkeeping and other related administrative activities.2. Services Provided by the factor The factor acts as a manager of exporters sales and provides his client with finance based on the level of sales and on the other hand evaluates the importers creditworthiness either by himself or with the aid of his correspondent or agent, so as to ensure the final payment. 保理行充当出口商销售的管理者，并根据销售额水平向其客户提供融资，另一方面，由其自己或借助其代理行或代理人对进口商的资信状况进行评估，以确保最后的贷款交付。 1) Evaluation of the importers credit standing 2) Exporter trade finance 3) Maintenance of sales ledger 4) Collection of receivables9.1.2 Functions 保理的功能 P243 1. Credit approval 信用审查 2. Credit protection信用保障 3. Management of accounts receivable 应收帐款管理 4. Financing 融资9.1.3 Costs 保理的成本 P243 1. Commission 2. Interest 9.1.4 Procedures 保理的业务流程1. Application for credit approval2. Delivery of goods and making out invoice3. Payment collection4. Conclusion9.1.5 Types of factoring 保理的分类 1. Disclosed and Undisclosed Factoring 2. The Two Factor System 3. Direct Import and Export Factoring 4. Back to Back Factoring9.1.5 Advantages to exporters (P245) 保理对出口商的有利方面9.2 Forfeiting 福费廷福费廷9.2.1 Definition 福费廷的定义 福费廷通常是指买进因商品和劳务的转让（主要是出口交易）而产生的在将来某一个日子到期的债务，这种购买对原先的票据持有人无追索权。9.2.2 Origins of the forfeiting market 福费廷市场的起源9.2.3 Characteristics 福费廷的特征9.2.4 Procedure 福费廷的过程9.2.5 Advantages and disavantages复习思考题：简述保理的功能及对出口商的有利方面。Chapter 10 Letter of Guarantee银行保函银行保函10.1 Introduction to Letter of Guarantee保函概述保函概述10.1.1 An Overview of letter of guarantee 保函概览 1. The Necessity of Guarantee in international trade 2. Definition 银行担保书是银行应其客户的要求而开立的书面承诺，保证在委托人违约时向受益人支付规定的货币金额。 3. Main point of guarantee 保函的主要目的不在于由担保人承担债务人的负债，而在于补偿受益人因违约而造成的损失。 4. Basic function of guarantee 保函的基本功能 5. Counter guarantee 反担保是指示人出具的任何书面保证或其他付款承诺，凭提交与承诺条款相符的书面付款要求以及反担保内容规定的其他文件，支付款项给担保人。10.1.2 Parties and obligation 保函的主要当事人及义务 通常情况下，保函业务涉及三方当事人。 1. Beneficiary 受益人 2. Principal 委托人 3. Guarantor 担保人 4. Instructing party 指示方 有时，银行或金融机构或任何其他机构作为指示方根据委托人的指示可以发出反担保函，以受益人所在国的银行或金融机构为反担保函的受益人。指示方指示位于受益人所在国的银行或金融机构代表委托人开出保函，以某个特定的具名的当事人为受益人。10.1.3 Types of bank guarantee 银行保函的种类 依据不同的标准，可以对担保进行不同的分类 1. In terms of the relationship with the underlying transaction 就与基础交易的关系而言，可分为附属担保（accessory guarantee）和独立担保（independent guarantee）。 2. In terms of the methods of issuing the guarantee 就开立保函的方法而言，可分为直接担保（direct guarantee）和间接担保（indirect guarantee） 3. In terms of the conditions for a claim 就索偿的条件而言，可分为无条件担保（unconditional bond）和有条件担保（conditional bond）。 4. In terms of the payment prerequisite under guarantee 就担保项下支付的先决条件而言，可分为支付担保（payment guarantee）和信用担保（credit guarantee）。 5. In terms of the purposes of guarantees 就担保的目的而言，担保可分为：国际贸易项下的担保（guarantees under international trade）；国际工程承包项下的担保（guarantees under international engineering contracting）；备用信用证（stand-by letter of credit）；其他担保（otherguarantee）。10.1.4 Contents 银行保函的内容10.1.5 Procedure 银行保函的业务流程10.2 Bid Bond 投标保函投标保函10.2.1 Definition 投标保函是指银行应投标人的要求向国外招标人提供的一种担保，在担保书中担保人承诺在委托人中标后无法履约的情况下向受益人支付在规定的货币金额限度内的款项。10.2.2 Functional terms and conditions 功能条款10.2.3 Sample 通用格式10.3 Performance Bond 履约保函履约保函10.3.1 Definition10.3.2 Functional terms and conditions 功能条款10.3.3 Sample 通用格式10.4 Advance Payment Bond 预付款保函预付款保函10.4.1 Definition10.4.2 Functional terms and conditions 功能条款10.4.3 Sample 通用格式10.5 Standby Letter of Credit 备用信用证备用信用证10.5.1 Definition 备用信用证是一张光票信用证，一般来说在申请人不能履行合约义务是担保付款。备用信用证的付款条件是提示汇票以及一张受益人签名的证明书说明申请人已经不能履行合约义务。10.5.2 Functional terms and conditions 功能条款10.6 Repayment Guarantee 还款保函还款保函10.6.1 Definition 还款保函是指银行（担保人）应货物或服务的供应商或其他承包商（委托人）的要求，向买方或雇主（受益人）提供的一种担保，在担保书中银行承诺在委托人不能按委托人和受益人之间的合约条款退回受益人预付或支付给委托人的任何金额时，由银行向受益人支付或退还在规定的货币金额限度内的款项。10.6.2 Form 通用格式10.7 Overdraft Guarantee 透支保函透支保函10.7.1 Functional Terms and Conditions 功能条款 如果一家银行为海外的客户提供透支便利，有时需要一家海外银行为这位客户开立保函。根据保函，如果客户在到期日无法归还帐户中透支的金额，开出保函的银行承诺偿还提供透支便利的银行。 Sample 通用格式10.8 Others 其他保函其他保函10.8.1 Import guarantee 进口保函 It is mainly employed to secure the payment on an open account basis. Should the importer fail to make payment wholly or partially within the time limit as stipulated in the contract, the guarantor bank undertakes to effect payment for the unpaid value of goods delivered by the exporter plus interest, if any.10.8.2 Loan guarantee 贷款保函 The guarantee is issued at the request of the borrower (the principal) in favor of the lender (the beneficiary).10.8.3 Leasing guarantee 租赁保函10.8.4 Retention bonds 保留款保函 机械设备交易合同常常规定先支付合同金额的90%95%，其余5%10%俟设备安装完毕运转良好，经买方验收后再支付。这一小部分余额称作保留款，如发现设备品质规格与合同规定不符，双方洽商减价，便从保留款中扣抵。如卖方要求买方同意将此笔保留款随大部分货款一并支付卖方，则需卖方提供银行保函，保证如有问题退还保留款。复习思考题：简述保函的主要当事人及义务。Chapter 11 Rules of International Payments and Settlements国际支付与结算规则国际支付与结算规则 11.1 URC 托收统一规则托收统一规则11.1.1 General introduction to URC 托收统一规则概述 托收统一规则是国际上规范银行汇票托收和跟单托收业务的公认的规则。11.1.2 Application 适用范围 国际商会第522号出版物，即托收统一规则（1995年修订本），将适用于“托收指示”中所包含的规则中的所有托收项目。除非另有明确的约定，或与某一国家、某一政府，或与当地法律和尚在生效的条例有所抵触，本规则对所有的关系人均具有约束力。11.1.3 Major contents 主要内容 国际商会第522号出版物包括7个部分，共26项条款，7个部分具体是：A部分：总则与定义，第13条B部分：托收的形式与结构，第4条C部分，提示的构成，第58条D部分：责任和任务，第915条E部分：付款，第1619条F部分：利息、手续费和费用，第2021条G部分：其他条款，第2226条11.1.4 Improvement 改进 1. Necessity of drawing up URC 2. 1956 Version of URC (ICC Publication No.192) 3. 1968 Version of URC (ICC Publication No.254) 4. 1979 Version of URC (ICC Publication No.322) 5. 1995 Version of URC (ICC Publication No.522) 6. Table of improvement of URC11.2 UCP 跟单信用证统一惯例跟单信用证统一惯例 英文全称是Uniform Customs and Practice for Documentary Credits。简称 UCP。最新版本是1993年出版的，国际商会出版物编号是“500”，通常称为“500”。 本世纪初，跟单信用证已经是国际贸易中经常使用的支付方式。但由于世界各国法律不同，各国银行往往各行其是，从而容易使信用证成为废纸一张。为了改变这种状况，使信用证成为有效的支付工具，1929年国际商会通过了编号为74的跟单信用证统一惯例的第一版本，以后几经修改，现在使用的已经是第七版本。由于几经修改，统一惯例已经是一个相当完善的规则，因此有力地推动了信用证业务的发展。 目前世界各国法院都把统一惯例作为裁决跨国跟单信用证纠纷的“法律准则”，但要得到这个“法律”的保护，信用证上必须注明根据统一惯例国际商会第500号出版物开立，即Subject to UCP.Publication No.500 of ICC。因此，不注明这句话的信用证，其它银行几乎都不愿意接受。由于这个原因，中国银行从1987年3月开始，在开立的信用证上都加上这一文句。11.2.1 General introduction to UCP 跟单信用证统一惯例概述11.2.2 Application 适用范围 跟单信用证统一惯例，1993年修订本，即国际商会第500号出版物，适用于所有在信用证文本中标明暗本惯例办理的跟单信用证（包括本惯例适应范围内的备用信用证），除非信用证中另有明确规定，本惯例对一切有关当事人均具有约束力。11.2.3 Major contents 主要内容 跟单信用证统一惯例，1993年修订本的主要结构如下：A. 总则与定义，第15条B. 信用证的形式与通知，第612条C. 责任义务，第1319条D. 单据，第2038条E. 杂项规定，第3947条F. 可转让信用证，第48条G. 款项让渡，第49条11.2.4 Improvement 改进 1. 1929 UCP version (ICC No.74) 2. 1933 UCP version (ICC No.82) 3. 1951 UCP version (ICC No.151) 4. 1962 UCP version (ICC No.222) 5. 1974 UCP version (ICC No.290) 6. 1983 UCP version (ICC No.400) 7. 1993 UCP version (ICC No.500)11.3 ICC 525 跟单信用证项下银行偿付统一规则跟单信用证项下银行偿付统一规则11.4 URDG 见索即付担保统一规则见索即付担保统一规则11.5 Basic Features of International Settlement Rules 国际结算规则的基本特征国际结算规则的基本特征复习思考题：什么是托收统一规则？适用于什么范围？什么是跟单信用证统一惯例？适用于什么范围？国际结算规则的基本特征有哪些？Chapter 12 International Payment System国际支付体系国际支付体系12.1 Introduction to International Payment System 12.1 Introduction to International Payment System 国际支付体系概述国际支付体系概述12.1.1 Definition 支付体系的定义 支付体系是现金价值在付款人银行帐户与收款人银行帐户转移的方式。12.1.2 Facilities 支付体系的便利12.2 Some Major Payment System 12.2 Some Major Payment System 几种主要的支付体系几种主要的支付体系12.2.1 SWIFT SWIFT系统The SWIFT conceptEstablishment 环球银行金融电讯协会是一个计算机化的国际电信系统，通过标准化的、格式化的信息，该系统能迅速处理并在全球会员银行间传递金融业务与信息。DevelopmentThe SWIFT benefitsFaster, more reliable communication 沟通更快、更可靠Reduced transaction errors 交易错误锐减Lower transmission costs 传递成本更低廉Greater efficiency 效率更高Better statistics 统计更精确Increased security 安全系数更高The SWIFT messagesThe SWIFT operation环球银行金融电讯协会与三个分别位于布鲁塞尔、阿姆斯特丹、弗吉尼亚州的库尔佩珀市的操作中心互相连接，通过中枢系统将电文从一国传送到另一国。Types of transfersSWIFT信息由三位数来识别，第一位数识别范畴，第二和第三位数识别信息类型。这个三位数使信息接受者能将信息发至组织内部适当的部门。12.2.2 CHIPS 12.2.2 CHIPS 票据交换所银行同业清算系统票据交换所银行同业清算系统CHIPS: a settlement systemCHIPS: a netting system票据交换所银行间支付系统是一个净额交易系统，即在一定的规定时间内传递的只是信息而非价值，在该期限末（对CHIPS而言该期限为一个营业日），仅有净额才发生实际的转移。Operation of CHIPSDaily volume of CHIPS12.2.3 CHAPS 12.2.3 CHAPS 票据交换所自动支付系统票据交换所自动支付系统What is CHAPS?What is CHAPS?CHAPS MembersCHAPS Members12.2.4 Fed Wire 12.2.4 Fed Wire 联邦银行支付系统联邦银行支付系统Brief introductionBrief introductionFund transfer operations under Fed WireFund transfer operations under Fed WireDrawbackDrawbackChapter 13 Non-trade Payments and Settlement国际非贸易结算实务13.1 Traveler13.1 Travelers Check s Check 旅行支票旅行支票13.1.1 Definition 13.1.1 Definition 定义定义 旅行支票是由金融机构、大型酒店以及其他机构向顾客发行的一种某一固定面额的预先特别印制的支票，以供其在国外旅行过程中使用。13.1.2 Parties 13.1.2 Parties 当事人当事人Issuer 发行人Selling agent or office 售票代理人或售票行Purchaser or holder 购票人或持票人Paying agent 兑付代理人Transferee 受让人 13.1.3 Procedure 13.1.3 Procedure 结算流程结算流程Purchase Purchase 购买Encashment Encashment 兑现兑现Claims Claims 索偿索偿13.1.4 Advantages 13.1.4 Advantages 旅行支票结算的优点旅行支票结算的优点13.2 Credit Card 13.2 Credit Card 信用卡结算信用卡结算13.2.1 Definition 13.2.1 Definition 定义定义信用卡是由银行发给客户的支付工具。银行谨慎选择合格的客户，信用卡是由银行发给客户的支付工具。银行谨慎选择合格的客户，并根据客户的财务状况给予其从几百元到几千元不等的信用并根据客户的财务状况给予其从几百元到几千元不等的信用额度，用以赊购消费品、服务和其他必需品。额度，用以赊购消费品、服务和其他必需品。13.2.2 Parties 13.2.2 Parties 当事人当事人Issuing bank Issuing bank 发卡行发卡行Cardholder Cardholder 持卡人持卡人Merchant Merchant 商家商家13.2.3 Procedure 13.2.3 Procedure 结算流程结算流程Process of the issuance of cards Process of the issuance of cards 开立信用卡的程序开立信用卡的程序Setting up relations with merchants and authorization Setting up relations with merchants and authorization 与商家建立联系以及授权与商家建立联系以及授权Clearing and Settlement Clearing and Settlement 清算和结算清算和结算13.2.4 Function 13.2.4 Function 结算功能结算功能Chapter 14 Cyber-payments电子支付14.1 Introduction 14.1 Introduction 电子支付概述电子支付概述14.1.1 Phenomenal growth of e-commerce 14.1.1 Phenomenal growth of e-commerce 电子商务的电子商务的迅猛发展迅猛发展 作为一个术语，电子商务意味着以电子方式进行的贸易，作为一个术语，电子商务意味着以电子方式进行的贸易，或者是通过互联网以电子方式任何时候从全球各地购买货物或者是通过互联网以电子方式任何时候从全球各地购买货物或获得服务的能力。或获得服务的能力。14.1.2 Internet: parent of cyber-payments 14.1.2 Internet: parent of cyber-payments 互联网：互联网：电子支付之母电子支付之母互联网是电子支付之母，电子支付是通过互联网购买商品和服务互联网是电子支付之母，电子支付是通过互联网购买商品和服务的设计巧妙的方式。因互联网能够提供相关信息和对比选择的设计巧妙的方式。因互联网能够提供相关信息和对比选择机会，强化了产品和价格的竞争，促进这变革与提高。机会，强化了产品和价格的竞争，促进这变革与提高。14.1.3 The Internet demand side 14.1.3 The Internet demand side 电子商务的需求电子商务的需求14.1.4 The Internet supply side 14.1.4 The Internet supply side 电子商务的供给电子商务的供给14.1.5 Necessity of developing cyber-payments 14.1.5 Necessity of developing cyber-payments 发发展电子支付的必要性展电子支付的必要性14.1.6 Types of electronic cash technologies 14.1.6 Types of electronic cash technologies 电子电子货币技术的种类货币技术的种类Stored-value products 储值产品Access products 存取设备14.1.7 Role of cyber-payment in e-commerce 14.1.7 Role of cyber-payment in e-commerce 电子支电子支付的作用付的作用 14.2 Cyber-payments Today 14.2 Cyber-payments Today 电子支付的现状电子支付的现状14.2.1 What is cyber-payment? 14.2.1 What is cyber-payment? 电子支付这个术语可用来定义资金转移的方法。电子支付指发展金融交易的新方法，正如当今银行用计算机调拨资金一样。电子支付将改变人们支付的方法，这些支付可在互联网上或商场进行，在商场中可用内存有微型芯片的“灵通卡”。14.2.2 Advantages of cyber-payments 14.2.2 Advantages of cyber-payments 电子支付的优电子支付的优点点 这些系统的设计旨在使消费者和商家获得一种快捷、简便、安全以及匿名的付款方式。这种系统完全实施后，会对全球的用户产生影响。可惜的是电子支付也有负面影响，因为这使得非法资金进行国际转移成为可能。14.2.3 Disadvantages of cyber-payments 14.2.3 Disadvantages of cyber-payments 电子支付的电子支付的缺点缺点14.3 Transfer of Money in Internet14.3 Transfer of Money in Internet网上支付网上支付14.3.1 Payments methods 14.3.1 Payments methods 支付方法支付方法14.3.2 Category of purchases 14.3.2 Category of purchases 采购的分类采购的分类14.3.3 Risks in Internet paying 14.3.3 Risks in Internet paying 互联网支付的风险互联网支付的风险14.3.4 Electronic cash in the Internet 14.3.4 Electronic cash in the Internet 互联网上的互联网上的电子现金电子现金What is gained with this scheme?Types of electronic cash?14.3.5 Credit cards in the Internet 14.3.5 Credit cards in the Internet 互联网上的信互联网上的信用卡用卡14.3.6 Checks and the Internet 14.3.6 Checks and the Internet 支票与互联网支票与互联网14.3.7 Smart cards and Internet 14.3.7 Smart cards and Internet 灵通卡与互联网灵通卡与互联网What are stored value cards (smart cards)?The stored value cards (smart cards) is both an access device and a self-contained store of value.How are smart cards used?14.4 Control of the Electronic Money 14.4 Control of the Electronic Money 电子电子货币的管理货币的管理14.4.1 Secured electronic transactions standards 14.4.1 Secured electronic transactions standards (SET) (SET) 电子交易安全标准电子交易安全标准Necessity of SETNecessity of SETWhat is SET?What is SET?Significance of SETSignificance of SET14.4.2 Law enforcement and cyber-payments 14.4.2 Law enforcement and cyber-payments 执法与执法与电子支付电子支付14.5 Looking to the Future 14.5 Looking to the Future 电子支付的未来电子支付的未来14.5.1 Cyber-payments: future methods for all 14.5.1 Cyber-payments: future methods for all payments payments 电子支付：未来的支付方法电子支付：未来的支付方法14.5.2 Secure payment methods: crucial to e-14.5.2 Secure payment methods: crucial to e-commerce commerce 安全的支付方法：电子商务的关键安全的支付方法：电子商务的关键14.5.3 Further work for full operation of e-14.5.3 Further work for full operation of e-payments system payments system 电子支付系统的全面开展电子支付系统的全面开展