《国际结算全集合》PPT课件.ppt

International Settlement,Wangshu,Chapter One Introduction,Concept Category Evolution Players and theirs roles Factors in payment decisions Characteristics and developing trend Correspondent banking relationship,the financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle claims and debts,emerged in the course of political ,economic or cultural contacts among them.,Meaning of International Settlement,Negotiable intsruments(票据): bills of exchange, promissory notes, checks Payment techniques: remittances,collections, letters of credit, bank guarantees, international factoring and forfaiting Documents: bills of lading,insurance policies, certificates of origin, etc,Trade settlement: payments for visible trades Non-trade settlement: 1、invisible trade settlement： payments for services, technology transfer, patents and copyright contracts, etc 2、financial transaction settlement： buying and selling of financial assets, overseas money-raising and investing 3、payments between governments：aids and grants 4、others: overseas remittances, inheritances, etc,Category of international settlement,From cash settlement to non-cash settlement From goods trading to documents trading From direct payment between traders to payment effected through a financial intermediary safety, high efficiency, low cost, standardization Electronic settlement SWIFT CHIPS CHAPS FEDWIRE TARGET,Evolution of international settlement,SWIFT(Society for worldwide interbank financial telecommunication)环球同业银行金融电讯协会 特点:标准化;安全可靠,自动加核密押;高速度,低费用. 业务分类:客户汇款(customer transfer);银行头寸调拨(bank transfer);外汇业务(foreign exchange confirmations);托收业务(collections);证券业务(securities);贵金属和银团贷款业务(precious metals and syndication);信用证和保函(documentary credits and guarantees);旅行支票(travelers cheques);银行帐单处理业务(statements).,Exporter to get prompt payment; minimize non-payment risks Importer to receive goods as ordered; pay as late as possible Financial intermediary to maximize revenues; credit risks associated with financing extended to buyers or sellers,Players and their roles,To exporters: protection against non-payment risks by the importers, such as: commercial risks, financial risks; political risks; risks in control of title to the goods,etc. convenience; cost; commercial competitiveness,Factors in the payment decision,1. the scale and scope of international settlement get greater and greater 2. International lending and financing is closely combined with international payments 3. On the basis of international customs and practice 4. International guarantees applied to international settlement 5. More diversified vehicle currencies 6. The proportion of commercial credit in international settlement gets bigger 7. A much facilitated international banking network connected with electronic telecommunication,Characteristics and developing trend,Correspondent bank 代理行 the basis for cooperation of commercial banks all over the world to fulfill international settlement “a bank having direct connection or friendly service relations with another bank.” Selecting a correspondent bank: reputation and creditworthiness; size and financial status; location; services offered by it; polices and strength of it,Correspondent banking relationship,The establishment of a correspondent bank Correspondent arrangement Control documents控制文件 Specimen of authorized signatures授权签字样本 Telegraphic test key/SWIFT authentic key密押 Schedule of terms and conditions费率表,Chapter two Negotiable instruments,General introduction Bill of Exchange/Draft Promissory Note Check,What is a negotiable instrument? Forms of circulation Characteristics of negotiable instruments Functions of negotiable instruments Parties to a negotiable instrument Title to a negotiable instrument Negotiable instrument laws,General introduction,in a broad sense, a negotiable instrument refers to any commercial title ownership. in a narrow sense, a negotiable instrument is a written document that contains an unconditional promise by the drawer to pay the payee or an unconditional order by the drawer to the drawee to pay the payee a fixed amount of money at a definite time,meaning of negotiable instruments,过户转让（assignment）非流通 特点：书面形式 转让通知原债务人或登记过户 受让人权利受前手缺陷的影响 当事人：转让人、受让人、原始债务人 交付转让(transfer) 准流通或半流通 特点：交付背书转让 不通知原债务人 受让人的权利受前手权利缺陷的影响 当事人：转让人，受让人 流通转让(negotiation) 完全流通 特点：正当受让人权利优于前手，不受其缺陷的影响,forms of circulation,举例说明：甲欠乙100元而出具以乙为债权人的字据给乙，让其凭字据找丙去取，同时乙原来曾欠丙30元未还，随后乙将此字据又转让给丁。问丁能否从丙处获得全额款项？ 如是字据，按民法原则，丙可采取将其对乙的30元债权转让给丁的办法来冲抵而只需付70 如是票据，按票据法原则，必须全额付款，而不能用乙的权利缺陷来对抗丁的正当票据权利,Negotiability Non-causative Requisite in form Literally determined content Presenting for payment,Characteristics of negotiable instruments,案例分析,1997年8月，某市A公司与新加坡B商签订了一份进口胶合板的合同。合同总金额为700万美元，支付方式为付款交单，允许分批装运。第一批价值为60万美元的胶合板准时到货，质量良好，对双方合作很满意。就在第二批交货期来临之际，B商向A公司提出：鉴于贵公司资金周转困难，为了帮助贵方，我方允许贵公司采取远期付款。 贵公司作为买方，可以给我方开出一张见票后一年付款700万美元的汇票，请中国人民建设银行某市分行承兑。承兑后，我方保证将700万美元的胶合板在一年内交货。贵方全部收货后，再付给我方700万美元的货款。A公司以为现在不付款，只开张远期票据就可得到货物在国内市场销售，于是欣然接受了B商的建议，给B商签发了一张见票后一年付款700万美元的汇票。但A公司始料不及的是，B商将这张承兑了的远期票据在新加坡的美国银行贴现600万美元。从此却一张胶合板都不交给A公司。事实上，B商将这笔巨款骗到手后便无影无踪了。 一年后，新加坡的美国银行持这张承兑了的远期票据请建行某市分行付款。尽管B商没有交货，某市分行却不得以此为理由拒绝向善意持票人美国银行支付票据金额。最后，由于本案金额巨大，报请国务院批准，由建行某市分行付给美国银行600万美元而结案。,对于这张远期票据，A公司为出票人，B商为收款人，建行某市分行为付款人。A公司与B商之间的胶合板买卖合同是该票据的原因关系，使得A公司愿意向B商开立这张汇票。A公司曾经向建行某市分行提供了资金，它们之间的这种资金关系使得建行某市分行愿意向A公司提供信用，承兑了这张远期汇票。美国银行与B商之间有对价关系，美国银行善意地付了600万美元的对价而受让，从而成为这张汇票的善意持票人。但票据的最大特点就是，票据法律关系一经形成，即与基础关系相分离。票据基础关系的存在和有效与否并不对善意持票人的票据权利而产生影响。所以，B商实际上没有交货，或者A公司并没有足够的美元存在建行，都不影响美国银行对承兑人的付款请求权。对美国银行来说，这张票据上并没有写胶合板，只有一句话：“见票后一年付700万美元”。票据法律关系应依票据法的规定加以解决，票据基础关系则应以民法规定加以解决。B商正是利用了票据的特性才行骗得逞的。,举例：甲交给乙一张经付款银行承兑的期票，作为向乙订货的预付款，乙在票据上背书后转让给丙以偿还原欠丙的借款，丙于到期日向承兑银行提示取款，恰遇当地法院公告该行于当天起进行破产清理，因而被退票。丙随即向甲追索，甲以乙所交货物质次为由予以拒绝，并称已于10天前通知银行止付，止付通知及止付理由也已通知了乙。在此情况下丙再向乙追索。乙以票据系甲开立为由推诿不理。丙遂向法院起诉，被告为甲、乙与银行三方。你认为法院将如何判决？ 甲、乙的拒付理由不成立，银行已破产清理，只需向甲、乙追索即可。,支付工具payment instrument 流通工具transferable instrument 信用工具credit instrument 融资工具financing instrument,Functions of negotiable instrument,出票人drawer 付款人payer/drawee 收款人payee 背书人endorser 承兑人acceptor 持票人holder,Parties to a negotiable instrument,正当持票人/善意的持票人（holder in due course/bona fide holder）： The instrument should be complete and regular on its face; The instrument is before maturity and the holder did not notice its previous dishonor, if any; The holder took it in good faith and for value; The holder did not notice any infirmity in the instrument or defect in the title of the person negotiating it 付对价持票人holder for value : a person who possesses an instrument for which value has been given by himself or by some other person prior to him in forms of money, goods,or services.,A,C,D,E,B,Drew a draft on B,Endorsed and lost it,Picked it up and transferred it to E for value,Accepted the draft,F,Gave it as a present,Claim for payment(第一次请求权，主权利) Recourse (第二次请求权) Only when the claim of holder for payment cant be satisfied, can recourse right be effected.,Titles to a negotiable instrument,British law UK Bills of Exchange Act of 1882 US Uniform Commercial Code of 1962, Article 3 French and German law Uniform law for Bills of Exchange and Promissory Notes of Geneva of 1930 Convention Providing a Uniform Law for International Bills of Exchange and International Promissory Notes and Convention Providing a Uniform law for International Checks United Nations 1988 Negotiable Instrument Law of Peoples Republic of China,Negotiable instrument laws,Concept Essential items required in a bill of exchange Acts relating to a bill of exchange Classification of bills of exchange Practice of bills of exchange,Bill of exchange,section 3, bill of exchange act, 1882,UK A Bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or the order of a specified person or to bearer.,definition,汇票是由一个人（drawer） 向另一个人签发的(drawee)/受票人 无条件的unconditonal 书面命令order in writing 要求其在见票时或在未来某一规定的或可以确定的时间(tenor) 将一定金额的款项支付给某一特定的人或指定的人，或持票人(payee),Absolutely necessary items Relatively necessary items Items at will,Essential items required in a bill of exchange,出票（Issue） 背书（Endorsement） 提示（Presentation） 承兑（Acceptance） 保证（Guarantee or Aval） 付款（Payment） 拒付（Dishonor） 追索（Recourse） 参加承兑和参加付款（Acceptance/Payment for honor),Acts relating to a bill of exchange,According to the drawer: Bankers draft and traders draft According to the acceptor: Bankers acceptance and traders acceptance According to the tenor Demand draft/sight draft and time/usance draft According to whether commercial documents are attached thereto Clean draft and documentary draft,Classification of bills of exchange,Discounting of a bill of exchange Accommodation bill融通汇票,Practice of bills of exchange,Discounting 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. Calculating formula： D=Vtd/360 N= V- D D:discount interest V:face value t:tenor d:discounting rate(n% p.a.) N:net proceeds Creditworthiness: Standing of the drawer and the accepter Drawn clause showing the reason for issuing the draft,Discounting of bills of exchange,被融通人开出融通汇票，没有付给对价，要求融通人（高资信的非债务人）承兑汇票（提高汇票的信用身价以便贴现），再交给贴现人予以贴现，获得票款；等到汇票到期日前，被融通人应把足额票款交给承兑人，此时贴现人向承兑人提示要求付款，承兑人使用被融通人交来资金付款给贴现人，结清这笔融资业务。,Accommodation bill,图示 伦敦出口公司向墨尔本一家公司出口货款为6600英镑，由出口商开出远期汇票，出票后60天付款。伦巴第银行为伦敦某承兑公司。,1.The issue of a draft A draft for USD 100,000.00 is drawn by The American Exporter Co.,Ltd, Tampa, Florida, U.S.A on the French Issuing Bank, Paris, France payable at 60 days after sight to the order of ourselves dated 15 May., 2006 marked “Drawn under The French Issuing Bank,Paris, France L/C No.12345 dated 25 Feb., 2006.” 2.A draft indicates that “at 10 days from 11 may, 2006 pay to the order of A company”, the maturity of the draft falls on _ 3.A draft is partly shown as follows: exchange for GBP12,500.00 New York, 23 May 2006 at 60 days after B/L date 23/ May/2006 pay to the order of ourselves the sum of US dollars one thousand only. Suppose the accepted draft was discounted on 23 may, 2006 by the collecting bank, Bank of Asia, London at the rate of 9% per annum. Please calculate discount amount and net proceeds.,Exercises,Exchange forUSD100,000.00 Tempa, 15 May,2006 At 60 days after sight pay to the order of Ourselves the sum of US dollars one hundred thousand only. “Drawn under The French Issuing Bank, Paris, France L/C No.12345 dated 25 Feb., 2006” To The French Issuing Bank. For The American Exporter Co., Paris Ltd , Tempa signature 2. When ISBP does not put into force, the maturity falls on 20 May,2006 when ISBP puts into force, the maturity falls on 21May,2006 Discount amount:1250060/365 9/100=184.93 Net Proceeds=12500-184.93,What is a promissory note Essential items of a promissory note The difference between a bill and a note Types of notes,Promissory note,本票是出票人签发的，承诺自己在见票时无条件支付确定的金额给收款人或持票人的票据。 UK Bills of Exchange Act of 1882, Article 83 A promissory note is an unconditional promise in writing made by one person to another, 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. Uniform Law for Bills of Exchange and Promissory notes of Geneva of 1930,Meaning of Promissory note,The word “promissory note” An unconditional promise to pay Name of the payee Signature of the maker Place and date of issue Tenor A sum certain in money Place of payment,Essential items of a promissory note,An order to pay & a promise to pay Basic parties involved:three-party instrument &two-party instrument Forms :in a set& one copy Acts involved: for a promissory note, never accepted Main obligor: for a draft, the drawer is primarily liable for payment before acceptance, but after acceptance the acceptor becomes primarily liable for payment. for a promissory note, maker is always primarily liable for payment. When dishonor, protest is needed for foreign bill but not for promissory note.,difference between a bill and a note,Traders notes Bankers notes 国际小额本票（International Money Order） 旅行支票（Travellers Cheque） 中央银行本票（Central Bankers Notes） Negotiable certificates of deposit Various bonds,Types,Concept and essential items Difference between a bill and a cheque Types,Cheques,出票人签发的，委托办理支票存款业务的银行或其他金融机构在见票时无条件支付确定金额给持票人或收款人的票据。 A check is a bill of exchange drawn on a bank payable on demand; A check is an unconditional order in writing, signed by the person giving it, requiring the bank to whom it is addressed to pay on demand a sum certain in money to, or to the order of , a specified person or to bearer.,Concept and essential items,Check-payment instrument&bill-payment and credit instrument Acts:certified and crossed Limitations on the drawer and drawee: for a check, the drawee must be the bank with which the drawer opens a checking account A check can be cancelled before payment while for a bill, the payment is irrevocable after acceptance in a set& one copy,Difference between a bill and a cheque,划线支票（crossed check):a crossing is in effect an instruction by the drawer or holder to the paying bank to pay the fund to bank only instead of over the counter of the paying bank. 现金支票(open check) 保付支票（certified check),Types,A check is certified by the drawee bank. Once a check is certified by the drawee bank, all other obligors on the check will be discharged of the liability of the payment. 保付&保证： 保付只是支票的行为，保证是三种票据的共同行为 保付只能由支票的付款人作出，保证人则可是除票据债务人以外的任何人 保付人成为绝对的债务人，出票人和背书人的责任便免除，保证人和被保证人都是汇票的债务人 全额保付 支票保付人向持票人支付了支票金额，票据关系消灭，保证人支付后，还可向被保证人和其前手追索,Certified checks,The word “exchange” An unconditional order to pay A fixed amount of money Name of the payee 1)限制性（Restricted Order） 不能流通转让,只有汇票上指定的收款人才能接受票款 e.g.pay to *only;not tranferrable 2)指示性（Demonstrative Order） 可经背书转让 pay to the order of */pay to * (or order) 3)来人抬头（我国不允许）pay to bearer,Absolutely necessary items(一),Date of issue to determine the expiry date and paying date; make sure whether the drawer has disposing capacity Name of drawee The signature of the drawer without the signature of the drawer or forged signature makesan instrument invalid.,(二),Absolutely necessary items(二),Place of issue Place of payment Tenor 即期付款(pay on demand/at sight) 远期付款：出票后定期certain days after date 见票后定期certain days after sight 定日付款fixed date 提单日后定日付款certain days after B/L Calculating the due date of a bill 严格按照汇票的文义推算，月为日历月，半15天，如遇节假日则顺延 at 30 days after date; at 60 days from *,Relatively necessary items,利息、利率及汇率（interest ，interest and exchange rate） 提示期限（Limit of time for presentation） 出票依据（Drawn Clause） 免作退票通知或放弃拒绝证书（Notice of Dishonor Excused or Protest Waived） 付一不付二 预备付款人（Referee in case of need）,Items at will,Comprises : 1）to draw and sign a bill; 2）to deliver it to the payee According to the negotiable instrument law： The bill should be complete in form stipulated by the negotiable instrument law in the place of issue； By drawing a bill,the drawer engages that on due presentment the bill will be accepted and paid and that, if dishonored, he will compensate the holder。,Issue,payee,payer,drawer,The payee or holder signs on the back of the bill and delivers it to the endorsee,Endorsement,Notes:,A valid endorsement should be an endorsement of the entire bill; By endorsing an instrument,the endorser guarantee that on due presentment the bill shall be accepted and paid as specified.,Types ： 1) Special endorsement 记名背书/特别背书/正式背书/完全背书 Pay to the order of ABC Co., signed 2) Blank endorsement 空白背书 3) Restrictive endorsement 限制性背书 Pay to A only/not transferable/not negotiable/pay to A bank for account of B Co. 4) Endorsement for collection 委托取款背书（托收背书） 5) Endorsement for pledge质押背书,The drawee sign on the face of bill, and deliver it to the person presenting for acceptance, by which the drawee shows his assent to the order of drawer Forms ： the word “accepted”;date;signature of the drawee Types ： general acceptance: without any qualification qualified acceptance: 1)a conditional acceptance(refuse to accept) e.g. accepted payable providing goods in order; accepted payable at some place(local acceptance);payable at a longer time after date 2)partial acceptance,Acceptance,This act is usually performed by a third party called guarantor, who engages to pay on presentment for a sight bill and accept and pay at maturity for a time bill.,Guarantee,Notes:,1）the guarantor stands for a debtor such as drawer, endorser,or acceptor and assumes his indebtedness to the holder 2）when the guarantor is compelled to pay, his right of recourse arises against the guaranteed and all the prior parties of the guaranteed.,In the event of a draft being dishonored, the holder in due course can sue every person who signed the draft prior to him. Qualifications to exert and preserve the right of recourse: Completeness in form of the draft Presenting for acceptance and payment on the due time Notice of dishonor拒付通知 When dishonored by non-payment or non-acceptance, the holder must give notice to all the parties who remain liable that the draft has been dishonored to preserve their liabilities on the draft. Protest拒绝证书 A written statement certified by a notary public or other authorized person for the purpose of giving evidence that a bill has been presented for acceptance or for payment but dishonored. 图示,Recourse,拒绝证书（Certificate of Protest）：是在拒付地点证明拒付事实的要式公证书。我国则是规定拒绝证明及其等效形式有： 承兑人或付款人出具的拒绝承兑书、拒绝付款书及退票理由书； 承兑人、付款人或代理付款银行直接在汇票上记载提示日期、拒绝事由及拒绝日期并盖章； 承兑人或付款人死亡、逃匿的有关证明（如死亡证明、失踪证明等）； 人民法院的有关司法文书（如破产裁定书）；有关行政主管部门的处罚决定。,Protest,Acceptance for honor When a draft has been protested for non-acceptance, any person not being a party already liable on the draft may,with the