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国际支付与结算大纲整理版

国际支付与结算大纲

一、简称写全称

1.T/T Telegraphic Transfer

2.CIF Cost Insurance and Freight

3.D/A documents against acceptance

4.L/C Letter of Credit

5.B/L Bill of Lading

6.T/R Trust Receipt

7.D/D (Remittance by Banker’s) Demand Draft

8.D/P documents against payment

9.M/T Mail Transfer

二、填空

1.Settlement on commercial credit includes payment in advance, open account,

remittance and collection.

2.Before the sixth century B.C., goods were exchanged between traders in different

countries on a barter basis

3.The maker of promissory note has prime liability while the other parties have

secondary liability.

4.There are four parties concerned in the international remittance; they are the

remitter, the remitting bank, the paying bank, and the payee.

5.According to whether the credit can be transferred or not, there are transferable

credit and non-transferable credit.

6.The Uniform Rules for Collection (URC) and the Uniform Customs and Practice

for documentary (UCP) were all developed by the International Chamber for Commerce in Paris.

1.Settlement on commercial credit includes payment in advance, open account,

remittance and collection.

2.From the point of view of a Chinese bank, a nostro account is our bank’s account

in books of an overseas bank, denominated in foreign currency.

3.Before a draft is accepted, the drawer has prime liability while the other parties

have secondary liability.

4.There are four parties concerned in the collection; they are the principal, the

remitting bank, the collecting or presenting bank, and the drawee.

5.According to whether the credit can be revoked or not, there are revocable credit

and irrevocable credit.

6.The Uniform Rules for Collection (URC) and the Uniform Customs and Practice

for documentary (UCP) were all developed by the International Chamber for Commerce in Paris.

三、计算题

1. Suppose an accepted bill for USD80, 000 falls due on July 12 and the exporter takes it to a discount bank on March 9. If the discount rate is 5% (year), what would be the discount interest and how much can the payee get?

贴现日:3.9 到期日:7.12 天数:125天

到期价值=(80000×5%×125)/ 360=1388.89元

The Payee Can Get=80000﹣1388.89=78611.11元

2. A draft was issued on July 30th, 2008. The par value was ten thousand RMB. The rate of interest per annum was 8%. The tenor was 3 month after sight and the drawee accepted it on August 27th, 2008. The holder discounted and draft at the rate of 10% per annum on September 19th, 2008.

(1) When the draft fall due?

November 27th, 2008

(2) How much is the discount interest? How much can the holder receive?

Face value of the bill=(10000×8%×120)/360+10000=10266.67

Discount interest=(10266.67×10%×69)/360=196.78

So the discount interest is 196.78 RMB.

贴现净值=10266.67-196.78=10069.89

So the holder can receive 10069.89 RMB.

四、名词解释

1. Bill of Exchange: A bill of exchange is defined officially as an unconditional order in writing, addressed by one person to another, signed by the first person, requiring the second person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a certain amount of money, to, or to the order of, a specified person or to the bearer.

2. Collection: Collection is an arrangement whereby the goods are shipped and a relevant bill of exchange is drawn by the seller on the buyer, and/or shipping documents are forwarded to the seller’s bank with clear instructions for collection through one of its correspondent bank located in the domicile of the buyer.

3. Letter of Credit: A letter of credit is a written undertaking by a bank (issuing bank) given to the seller (beneficiary) at the request, and on the instruction, of the buyer (applicant) to pay at sight or at a determinable future date up to a stated sum of money, within a prescribed time limit and against stipulated documents which complied with the terms and conditions of the credit.

4. Remittance: the forward direction of payment instruments and the flow direction of funds are the same.

5. D/P: 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.

6. D/A: The presenting bank may release the documents to the buyer against the buyer’s acceptance of a draft, drawn payable 30-180 days after sight or due on a definite date.

7. Check: A check is an unconditional order in writing addressed by the customer to a bank signed by that customer authorizing the bank to pay on demand a specified sum of money to or to the order of a named person or to bearer.

8. Documentary Collection: Documentary collection my be described as collections

on financial instruments being accompanied by commercial documents or collections on commercial documents without being accompanied by financial instruments, that is, commercial documents without a bill of exchange.

五、简单题或案例分析

1.Advantage and disadvantage of M/T.

Advantage: In involves bank-to-bank instructions with bank responsible for making payments, so it is rather reliable.

Disadvantage:

(1)It is possible for the mail transfer order to be delayed or lost in the post, thus

causing difficulty for its payment.

(2)As the mail transfer exclusively depends on international airmail service, its

transmission is slower than that of T/T and cannot serve the purpose of quick payment.

(3)Unlike the remittance by demand draft, the beneficiary must await

notification from the bank concerned.

2.Function of bill of lading.

(1) It is a receipt for goods signed by the shipping company and given to the

shippers.

(2) It is a document of title. It can be freely bought and sold just like commodity.

In case the buyer dishonors payment, the seller may sell it to other alternative buyers.

(3) It is also evidence of contract of carriage between the shipping company and

shippers.

(4) It can be used for the buyer to take delivery at the port of destination.

3.Procedure for amendment of the letter of credit.

(1)The seller requests that the buyer make an amendment to the credit. This can

be made by a telephone call, a fax, or by face-to-face negotiation.

(2)If the buyer agrees he orders the issuing bank to issue the amendment.

(3)The issuing bank amends the credit and notifies the advising bank of the

amendment.

(4)The advising bank notifies the seller of the amendment.

4.Function of negotiable instrument.

(1)As a means of payment.

(2)As a credit instrument.

(3)As a transferable instrument.

(4)As a mean of financial

5.According to the tenor, list the classification of bill of exchange.

(1)Sight bill. It is a bill payable on demand or sight or on presentation.

(2)Time bill or usance bill. It is a bill payable at a fixed or determinable future

time.

6.Parties to documentary credit.

(1)Applicant/importer/the buyer; (2) Issuing/opening bank/the buyer’s bank;

(2)Advising bank; (4) Beneficiary/exporter/the seller; (5) Confirming bank;

(6) Negotiation bank; (7) Paying bank/drawee bank; (9) Reimbursing bank.

7. Characteristics of letter of credit.

(1) It is a kind of banker’s credit. The issuing bank undertakes primary liabilities

for payment;

(2) The obligation of payment born by the bank is limited and conditional.

(3) A letter of credit is self-sufficient documents and is independent of the sales

contract;

(4) Letter of credit is a pure documentary business, that is, banks deal with

documents and not with goods, services or other performances to which the documents relate.