国际结算期末考复习题-超级整理版

国际结算期末考 D/P D/A T/R B/L

documents against payment 付款交单 documents against acceptance 承兑交单 Trust Receipt 信托收据 bill of lading 提单

L/C Letter of Credit 信用证

FCA Free Carrier 货交承运人 FAS FOB CFR CIF CPT CIP DAF DES DEQ DDU DDP EXW T/T M/T

Free Alongside Ship 装运港船边交货 Free On Board 装运港船上交货 Cost and Freight 成本加运费

Cost Insurance and Freight 成本加运费、保险费 Carriage Paid to 运费付至

Carriage Insurance Paid to 运 费、保险费付至 Delivered At frontier 边境交货 Delivered Ex Ship 目的港船上交货 Delivered Ex Quay 目的港码头交货 Delivered Duty Unpaid 未完税交货 Delivered Duty Paid 完税后交货 EX Works 工厂交货 Telegraphic Transfer 电汇汇款 Mail Transfer 信汇汇款

D/D Remittance by Banker’s Demand Draft 票汇汇款 URC Uniform Rules for Collection 托收统一规则 M.T.D Multi-modal transport document 多式联运提单

UCP The Uniform Customs and Practice for Documentary Credits 跟单信用证统一惯例 ICC International Chamber of Commerce 跟单信用证项下银行偿付统一规则

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名词解释：

国际结算：International payments and settlements are financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to clear relations of debts.

汇票：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.

本票：A promissory note is an unconditional promise in writing made by one person (the maker) to another (the payee or the holder), signed by the maker engaging to pay on demand, or at a

fixed or determinable future time, a sum certain in money to or to the order of a specified person or to bearer.

信用证：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.

支票：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.

汇付：Remittance refers to the transfer of funds from one party to another among different

countries through banks. At the request of its customer, a bank transfers a certain sum of money to its overseas branches or correspondent banks and instructs them to pay a named person or corporation domiciled in that country.

托收：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.

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计算题

一、 The Amount the Exporter Can Get? P44

Suppose an accepted bill for USD50, 000 falls due on June 30 and the exporter takes it to a discount bank on April 6. If the discount rate is 10%, the discount interest is?

Issue：July 30 Value：50000 USD Interest rate： Tenor： Accept：

Discount rate：10 % D=V?T? R / 360 D=DISCOUNT INTEREST V=FACE VALUE OF THE BILL T=TENOR(DAYS) R=DISCOUNT RATE(N%PER ANNUAM每年)

二、 The Amount the Exporter Can Get? P45

Issue：July 30 2008 Value：10000 RMB Interest rate：8 % Tenor：3 months Accept：August 27 Discount rate：10 %

三、 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

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问答题：

1. 信汇、电汇、票汇的特点

? Telegraphic Transfer, T/T (电汇汇款) 1) It is a kind of remittance(顺汇).

2) It is the fastest type but the charges are higher.

3) In bank remittance, the T/T is in preference to others. It is dealt on the same day and the

bank can’t use the funds under way. 4) It is safe and creditable. ?

Mail Transfer, M/T (信汇汇款) 1） It is a kind of remittance(顺汇). 2） The charge is low.

3） It is the slower type and because of mail, it will spend more time to receive the money. 4） Bank can occupy the funds under way for a short time. ?

Demand Draft, D/D (票汇)

1) The paying bank is flexible.

2) The draft can replace the cash to be negotiated.

3) The draft is carried by the remitter himself or is posted by the remitter to the payee. 4) The paying bank needn’t notifies the beneficiary and the latter will come to receive the

money. 2. Chapter of COVER

Nostro Account 往账：A bank account conducted by a British bank with a foreign bank, usually in the foreign currency.

Vostro Account 来账：A bank account held by a foreign bank with a British bank, usually in sterling.

Reimbursement Methods拨头寸的方法（课堂要求掌握前两种，余下四种看课件） 1. Crediting vostro account of the paying bank

主动贷记：如果汇入行在汇出行开有账户，汇出行应主动将相应头寸贷记该账户。 payment order 支付委托书

账户行 开户行 remitting bank paying bank credit advice 付讫的贷记通知 etc: In cover, we have credited the sum to you’re a/c with us. 寄出贷记报告单称已贷记汇入行账户。 2. Debiting remitting bank’s nostro account

授权借记：如果汇出行在汇入行开有账户，汇出行应授权汇入行借记该账户相应的金额。 payment order 支付委托书

开户行 账户行 remitting bank paying bank debit advice 付讫的借记通知 etc: In cover, please debit our a/c with you.

(You are authorized to debit the sum to our account with you.) 寄出借记报告单称已借记汇出行账户。

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3. Functions of Negotiable Instrument 流通票据的功能P39

1) 2) 3) 4)

4. Basic Methods of International Payments and Settlements:

1） Settlement on commercial credit:

?remittance(汇付)：A. payment in advance B. open account ?collection(托收)

2） Settlement on bank credit： ?letter of credit(信用证) ?bank guarantee(银行担保)

5. Characteristics of Collection 托收的特点

1） It is based on commercial credit 2） The capital burden is not balance 3） It is safer than the remittance

4） It can afford financing to the seller or buyer

5） The procedure is simple, fast and the charges are not high.

6. Characteristics of Letter of Credit信用证的特点

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.

7. Principles in examining documents 审单的原则

1） 单证相符：The name, content and signature of the documents presented should be in

conformity with the terms and conditions of the credit. Any small discrepancy is possible to become the reason for refuse.

2） 单单相符：The documents should be in conformity with each other.

As a means of payment; As a credit instrument;

As a transferable instrument; As a means of finance.

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实际操作题（填表类）

1. 汇票 Bill Of Exchange P45 P63-5-6

No. , Date. EXCHANGE FOR At sight of the First of Exchange, second of the same tenor and date unpaid, pay to the order of the sum of Drawn under To: For and on behalf of XXX (Signature)

Exchange for , DATE At sight of the First of Exchange, second of the same tenor and date unpaid, pay to the order of the sum of Drawn against To: For and on behalf of XXX (Signature) ACCEPTED TIME(SIGHT) Payable at For (Signature) Question: 汇票期限 At 30 days after sight At 30 days from sight At 30 days after date At 60 days after date At one and half, a month after date

到期日 6

2. 本票 Promissory Note P49 ?P63-7

Promissory Note , For On fixed by the promissory note we promise to pay the sum of . For and behalf of (Signed )

Cheque No. , Pay to the sum of (Signature)

3. On 18, March 2009, Bank of China, Guangzhou Branch received a mail transfer payment order from Bank of China Hong Kong. Please complete the forms. BANK OF CHINA, HONG KONG BRANCH DATE, HONG KONG Please advise and effect the following payment less your charges if any. In cover, we have credited your account with us. TO BANK OF CHINA, GUANGZHOU No. of Mail Transfer MTXXXX To Be Paid To Ruiqi Garment Co. Ltd, Guangzhou No. XXXX Amount HKD200,000.00 Amount in words: H.K Dollars Message: Being Proceeds under Two Hundred Thousand S/C No. XXX By Order Of Universal Garment Imp. & Exp. Co. Hong Kong Band of China, Hong Kong Remitting Bank: Payee: The proceeds is used for: Cover Instruction:

Paying Bank: Remitter: Currency and Amount: 7

4. QUESTION: A draft N0.426898 for USD100, 000.00 is drawn by The American

Exporter Co. 17 Main Street Tampa, Florida, U.S.D on The French Issuing Bank, 38 rue Francois ler, Paris, France payable at 60 days sight to the order of ourselves dated 25 March, 2000 marked “Drawn under The French Issuing Bank, Paris, France L/C N0.12345 dated 25 Feb., 2000”.

Bill of exchange

1_______ ________○2__________ No.______○

3_________ Exchange for __________○

At ____4○__ Sight of this first of exchange（SECOND BEING UNPAID） 5_________ Pay to（the order of）________○

6__________________________________ The sum of _______________________________○7________________ Drawn Under ____________○

8__________ Date _________○9___________ L/C NO._________○

（signature） 0_____________ __________11________ To ____________1○○

1426898 ○225 March, 2000 Tampa, Florida ○3$100,000 ○460 days ○5The American Exporter Co. A：○

6US Dollars one hundred thousand only ○7The French Issuing Bank, Paris ○812345 ○925 Feb, Inc. ○

2000

10The French Issuing Bank ○

1The American Exporter Co. 1○

38 rue Francois ler 75008 Paris, France 17 Main Street Tampa, Florida

5. QUESTION: Please draw a demand draft to make remittance by D/D Draft: No.20060613 Amount: HKD32, 150.00

Place and date of draft: Tianjin, 8May, 2009 Paying bank: Bank of China, Hong Kong

Payee: the order of United Trading Company, Hong Kong Pay against this draft to the debit of our account. Remitting bank: Bank of China, Tianjin

Remitter: China National Light Industrial Products Imp. & Exp. Corp., Tianjin Branch, Tianjin

BANK OF CHINA

Not Negotiable

NO._______ 1○_______

Account Payee

2_______ AMOUNT _______○

3__________ This draft is valid for one year from date of issue ___________○4_______________ To: ___________○

5____________ Pay to _____________○

6____________________ THE SUM OF _________________○

PAY AGAINST DRAFT TO THE DEBIT OF OUR __________ACCOUNT For BANK OF CHINA, TIANJIN Signature 120060613 ○2HKD 32,150.00 ○3Tianjin, 8 May, 2009 ○4Bank of China, Hong Kong ○5The order of A：○6Hong Kong Dollar Thirty-Two thousands one hundred and United Trading Company, Hong Kong ○fifty only 8

案例分析

CASE 1：

Chinese company A concluded a purchase contract with a Belgium company for some goods. The contract require that the goods should be Grade M or above and that the exporter should surrender certificate which verify that the goods has reached Grade M. But A didn’t request certificate of Grade M in the L/C opened by him.

After delivery, A took the delivered goods before paying. Then A found that the goods didn’t reach Grade M and asked the local quarantine to give a testification. A held the testification to demand the opening bank to dishonor. QUESTION:

1.Should the opening bank dishonor the L/C？ 2. Please statement the reason.

ANSWER:

1. The issuing bank should not dishonor.

2. Though the bank knows the fact that the seller fail to implement all the conditions of the

contract wholly, the bank must make payment. 3. According to the principle that L/C is an independent contractual document and the

operation of L/C is based on documents, the bank must make payment as long as the seller surrenders the accordant documents.

CASE 2：

One of Japanese company opened an irrevocable L/C on the request of its customer. The exporter was in Guangzhou. The L/C stipulates that the negotiating bank can be repaid by the opening bank’s New York branch. One bank in Guangzhou negotiated the draft, forwarded the documents to the opening bank and get payment from the reimbursing bank.

On the 4nd day, the opening bank said that there were discrepancies between the documents and L/C and asks for the repaid amount. The negotiating bank confirmed the discrepancies but the beneficiary said that the opener had taken the goods without the bills of lading. QUESTION:

Can the negotiating bank refuse to pay the money back to the opening bank? Why? ANSWER:

1. The negotiating bank can’t refuse to pay back the money.

2. L/C is based on document. The parties concerned deal with documents rather than goods

or facts. If the document presented is not in conformity with the L/C, the beneficiary can’t

get payment.

CASE 3：

One of our companies exported 5000 tons of rice. The L/C stipulated that 1000 tons was shipped every month from January to May. The seller shipped 1000 tons separately during January and February but there was no shipment in March because of lacking of goods. Then the exporter shipped 2000 tons and 1000 tons separately in April and May.

When the exporter negotiated the shipping documents, the bank refused to pay the 3000 tons shipped in April and May because the shipment in March was not in accordance with the stipulations of the L/C.

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Question:

Was the bank correct? Why? ANSWER:

1. The bank was right.

2. Because according to the Uniform Customs and Practice of Documentary Letter of Credit, if

partial shipments stipulate definitely the number of lots, time and quantity of every lot, the seller should exactly conform to the stipulation. If the seller doesn’t conform to the stipulation in a certain period, the period together with the following will be invalid automatically.

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选择题

1. To the exporter, the fastest and safest method of settlement is cash in advance. 2. To the importer, the fastest and safest method of settlement is open account. 3. Under a letter of credit, the exporter can receive the payment only when the documents presented comply with the credit terms. 4. Which of the following is based on commercial credit? Collection(托收) 5. There are four main methods of securing payment in international trade:④ payment in

advance;① payment under documentary credit;③ collection;② open account .From an

exporter’s point of view, the order of preference is ④①③②. 6. The documentary collection provides the seller with a greater degree of protection than

shipping on open account (赊账交易)。

7. Foreign trade can be conducted on the following terms except for public bonds. 8. Cash settlement is effected by shipping precious metals(贵金属)taking the form of coins, bars or bullions. 9. International cash settlement has the following disadvantages except safe.(即包括

expensive\\risky\\time-consuming) 10. If a bill is payable “60 days after date”, the date of payment is decided according to the date of the bill. 11. A term bill may be accepted by the drawee. 12. The party to whom the bill is addressed is called the drawee. 13. The maker of a promissory note has prime liability while the other parties have secondary liability.

14. A (n) bill of exchange is a financial document. 15. Demand draft(即期汇票) is often used when the client wants to transfer the funds to his

beneficiary himself. 16. If the paying bank opens a current account with the remitting bank, the reimbursement may

be effected by crediting vostro account of the paying bank(主动贷记) 17. If a London bank makes a payment to a correspondent abroad, the foreign bank’s vostro account will be credited.(贷记) 18. If Barclay Bank instructs Citibank to pay a sun of USD2,000,000 to Midland, its nostro account should be debited(借记). 19. Suppose that a UK firm which is to pay a debt to a West German supplier in Deutschmarks.

The firm will give a written instruction to its bank in the UK to issue a mail transfer. Then the UK bank debit the UK firm’s account as authorized. 20. The principal is generally the customer of a bank who prepares documentation and submits

them to the remitting （托收）bank with a application for payment from the buyer (drawee). 21. Which type of collection offers the greatest security to the exporter? Documents against payment.即期付款交单 22. Which of the following is not a risk that the exporter assumes on documentary collection

basis? B. harm to the reputation due to dishonor

PS: t a risk that the exporter assumes on documentary collection basis: A. non-acceptance of merchandise C. exchange restrictions D. non-payment of trade acceptance 23. The remitting bank is the bank of which the principle has entrusted the collection. 24. The importance of the distinction between financial documents and commercial documents

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lies in that it helps decide whether it is clean collection or documentary collection.

25. Letter of credit is a conditional undertaking to make payment. 26. With an unconfirmed irrevocable letter of credit, the advising bank transmits detail without commitment to the beneficiary. 27. A confirmed irrevocable letter of credit creates the highest level of security against sovereign risk政治风险. 28. Confirmation of a credit may be given by the advising bank at the request of the issuing bank. 29. The sum of the transferred credit is will not be more than in the credit before transfer. 30. In addition to stipulating an expiry date for presentation of documents, every credit should

also stipulate a specified period of time after the date of shipment during which presentation must be made. If no such period of time is stipulated, banks will not accept documents presented to them later then 21days after the date of shipment.

31. If a credit stipulating total amount available is about USD100, 000.00, then bank will refuse

the invoice that bears the amount of C. PS:若没有“about则默认为15%的增减幅度。 A. USD100, 000.00 B. USD100, 500.00 C. USD120, 000.00 D. USD99, 900.00

32. The advising bank informs the beneficiary another bank has issued a credit in his favor without adding its own engagement.

33. In a letter of credit, the bank pays the seller for documents which agree with the credit.

34. J.A. Smith applies to his bank for a letter of credit. The bank issued the credit and mails it to C. Thomas. Mr. Smith is the application. 35. Which of the following transport document is negotiable可流通转让? Marine bill of lading 36. The bill of lading is evidence of ownership. it thus functions as a title document（物权凭证）. 37. A commercial invoice is a statement describing the merchandise, its cost and shipping charges. 38. The minimum amount of the insurance cover under the letter of credit must be 110% of CIF value.

填空题

1. Settlement on commercial credit usually includes payment in advance, open account, remittance and collection. 2. Settlements on bank credit include letter of credit and bank guarantee. 3. Before the sixth century B.C., goods were exchange between traders in different countries on a barter basis. 4. The shipment of gold or silver across national boundaries was both expensive and risky. 5. If the paying bank maintains the remitting bank’s account, the reimbursement may be

effected by debiting remitting bank’s nostro account. 6. Under documents against acceptance, the buyer gains possession of the goods before payment and is able to dispose of the goods as he wishes. 7. Under D/P at sight, the seller issues a draft. The collecting bank presents the draft to the

buyer. When the buyer see it he must pay the money at once, then he can get the shipping document.(即期付款交单)

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课堂老师附加练习

ChP 3 Answer following questions:

1.What is clean bill? P48

It is a bill without shipping documents attached thereto.

3. What are the parties involved in international trade? P2

They are the buyer who purchases the goods, the seller who provides the goods and banks

that facilitate the payment of the transaction.

4. According to the tenor, write down types of bill. P47

Sight bill and Time bill or usance bill.

5. Please state which of the following can be used in a bill and give the reasons: 1) Pay to √ ; 2) I will be very pleased if you pay to × ; 3) Pay to × if the goods they supplied are complied with contract No. 123;

4) Pay to × providing the goods arrived at destination before 21, October;

5) Pay to × on condition that goods have been shipped on board before 18, November;

6) I beg you pay to × ; 7) Please pay to √ ;

8) Pay to √ ,D/P(D/A), Drawn against shipment of 20 bales of cotton from Guangzhou to Hong Kong for collection;

9) Pay to × out of the proceeds in our No. 456 account;

10) Pay to √ ,Drawn under L/C No.123 issued by XX bank, New York, dated 12, November, 2009;

11) Would you please pay to × .

6. Which of the following statements about sum are valid in a bill and give the reasons: 1) The sum of about one thousand USD.; × 2) The sum of circa one thousand USD.; × 3) The sum of one thousand USD or two thousand USD.; × 4) The sum of one thousand USD √

5) Pay to the order of the sum of one thousand US dollars plus interest; × 6) Pay to the order of the sum of one thousand US dollars by installments; × 7) Pay to the order of the sum of one thousand US dollars converted into sterling equivalent. ×

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ChP 4.5

1. Please state the characteristics of T/T.(write down advantage and disadvantage of

remittance by cable.)

1) Advantage of remittance by cable ? It is the fastest way to transfer funds.

? It involves bank-to-bank instructions with banks responsible for making payments, so it is

quite safe, especially when large amount is transferred. 2) Disadvantage of remittance by cable

? It is more expensive as compared with M/T or D/D, but if the amount transferred is large, the

interest cost which should be otherwise incurred due to time delay can be saved. ? The beneficiary must await notification from the bank concerned.

2. Define D/P and D/A in English. P88-89

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.

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

3. Fill in the blanks to complete each sentence.

Principal, payer, remitting bank, and the drawee are the parties involved in the collection. Settlement on bank credit include letter of credit and bank guarantee . There are four parties concerned in the international remittance, they are the remitter , the remitting bank, the paying bank, and the payee.

ChP 6.7.8 1. L/C finance includes finance to the export and finance to the import.

2.Please state the function of bill of lading. P209

? 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.

3.Procedure for amendment of the credit. P172

? 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.

If the buyer agrees, he orders the issuing bank to issue the amendment.

The issuing bank amends the credit and notifies the advising bank of the amendment. The advising bank notifies the seller of the amendment.

4. What are the parties involved in letter of credit? P111

Applicant/importer/the buyer申请人 Issuing/opening bank/the buyer’s bank开证行 Advising bank通知行（Notifying bank转递行） Beneficiary/exporter/the seller受益人 Confirming bank保兑行 Negotiating bank议付行 Paying bank/drawee bank付款行 Accepting bank承兑行 Reimbursing bank偿付行

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