国际结算(英文版)清华大学出版社 答案.pdf

KEY OF INTERNATIONAL SETTLEMENT Chapter 1 1 Put the following phrases into English 贸易壁垒trade barrier 进口关税import tariff 全球经济一体化economic globalization 资金转移und transfer 有形贸易tangible trade 无形贸易intangible trade 国际惯例international customs and practices 全球金融同业通讯协会SWIFT 2 Put the following sentences into English 1 国际结算涉及有形贸易和无形贸易 外国投资 从其他国家借贷资金 等等 The international settlement involves tangible trades intangible trades foreign investments funds borrowed from or lent to other countries and so on 2 许多银行注重发展国际结算和贸易融资的业务 Many banks have focused on their business of international settlement and trade finance 3 大多数国际间的支付来自于世界贸易 Most of the international payments originate from transactions in the world trade 4 一般来说 国际结算的方式分为三类 汇款 托收和信用证 Usually the international settlement is divided into three broad categories remittance collection and letter of credit 3 True or False 1 International payments and settlements are financial activities conducted in the domestic country F 2 Fund transfers are processed and settled through certain clearing systems T 3 Using the SWIFT network banks can communicate with both customers and colleagues in a structured secure and timely manner T 4 SWIFT can achieve same day transfer T 4 Multiple Choice 1 SWIFT is B A in the united states B a kind of communications belonging to TT system for interbank s fund transfer C an institution of the United Nations D a governmental organization 2 SWIFT is an organization based in A A Brussels B New York C London D Hong Kong 3 A facility in fund arrangement for buyers or sellers is referred to A A trade finance B sale contract C letter of credit D bill of exchange 4 Fund transfers are processed and settled through C A banks B SWIFT C clearing system D telecommunication systems 5 C is the reason why international trade first began A Uneven distribution of resources B Patterns of demand C Economic benefits D Comparative advantages 5 Answer the following questions 1 Where are the medium of exchange originated from Tracing back the history of international settlement the medium of exchange originated from coins to notes 2 What will inevitably lead to under the international political economic and cultural exchanges The international political economic and cultural exchange inevitably leads to credits and debts owed by one country to another 3 Why do banks focus on the development of the businesses of international settlement Banks focus more and more on the development of the businesses because it is a major resource of profits 4 What will banks do to meet the higher and higher demand of the international market Banks need to develop innovative products and deliver the best services possible in whatever way they can Chapter 2 1 Put the following phrases into English 资金转移fund transfer 清算系统clearing system 银行竞争banking competition 可兑换货币convertible currency 国际支付international payment 2 Put the following sentences into English 1 用于国际结算的货币是可兑换的货币 Currencies used in the international settlement are convertible currencies 2 每一个通信和支付系统都有自己的使用规则 Each communication and payment system has its own rules 3 有五种美元清算的方式 There are five US dollar fund transfer payment methods 4 欧元是欧盟国家使用的货币 Euro is the single currency of the European Union 5 香港作为国际金融中心必须遵循国际惯例 As an international financial center Hong Kong must follow international payment practice 3 True or False 1 CHIPS payments are irrevocable and subject to a same day net settlement process T 2 Book transfers are payment made between parties that maintain accounts at the different bank F 3 In Japan cash is not far more often used than checks for payment at the retail level F 4 Not later than July 2002 the Euro will replace the national currencies in all public and private transactions 4 Multiple Choice 1 The following are the special problems for international trade except for C A using foreign languages and foreign currencies B under foreign laws customs and regulations C having risks D numerous cultural differences 2 All the parties to a collection are bound by C A UCP400 B UCP500 C UCR522 D URC254 3 An additional risk borne by the seller when granting a credit to the buyer is that the latter will not D A accept the bill B take up the documents C take delivery D make payment at maturity 4 To the exporter the fastest and safest method of settlement is B A letter of credit B advance payment C collection D banker s draft 5 To the importer the fastest and safest method of settlement is C A letter of credit B cash in advance C open account D banker s draft 6 Which is the real international payment system A A TARGET B FedWire C CHAPS D SWIFT 5 Answer the following questions 1 How will fund transfers be processed and settled Fund transfers are processed and settled through certain clearing systems 2 What is FedWire FedWire is an electronic payment system operated by the U S Federal Reserve It si used to make US dollar payments to banks and their customers throughout the United States 3 When will the euro start to use From January 1 1999 Euro is the single currency of the European Union 4 What is the strongest of SWIFT The strongest feature of SWIFT is message text standards Chapter 3 1 Put the following phrases into English 总资产total assets 缺乏经验lack of expertise 全球策略global strategy 专业服务professional service 财务报表financial statement 2 Put the following sentences into English 1 两家银行建立代理行关系的原则是基于双方的互惠互利 The overall principle to establish correspondent banking relationship between two banks is on the basis of mutual benefits 2 一家银行对其所在国金融系统的重要性是对该银行进行评级的重要因素 The importance of a bank to its country s financial system is a major factor in the rating process 3 穆迪和标准普尔在对银行进行评级时有许多相似之处 Moody and Standard in writing signed by the person giving it drawee payment date a sum certain in money payee date and place of issuance of a draft bearing the words exchange for 3 What is meant by a documentary bill A documentary bill refers to one that is accompanied by the relevant documents that are needed to complete the export transaction 4 What is the important difference between the bill of exchange and the promissory note The important difference between the bill of exchange and the promissory note is that the promissory note is written and signed by the person who promises to make the payment the buyer and sent to the person who is owed the money the exporter A bill of exchange in contrast is drawn by the exporter and sent to the buyer who accepts term bill 5 How many parties are there in a promissory note What are they There are two parties in a promissory note and they are maker and holder Chapter 5 1 Put the following phrases into English 海外分支机构和代理行overseas branches and correspondent banks 汇款人账户remitter s account SWIFT 密押swift authentication key 授权签字authorized signature 金融机构financial institution 2 Put the following sentences into English 1 由于电信业的迅猛发展 大多数的付款业务都是通过电汇方式完成 With rapid telecommunication most payment transactions are handled by telegraphic transfer 2 再付款业务中总是会出现一些差错 In the process of payment transfer some mistakes may occur 3 处理付款业务员中的典型错误是将头寸付款方式和链式付款方式的报文混淆 It is a typical mistake to confuse the message types of the cover method with those of the serial method 4 在一些国家 通常用于国内付款的链式方式也用于跨境付款 In some countries and for some currencies the serial method typical for domestic payments is also used cross border 5 电汇常常用于大写金额和时间较紧的情况 T T is often used when the remittance amount is large and the transfer of funds is subject to a time limit 3 True or False 1 Remittance refers to the transfer of funds from one party to another among different countries through banks T 2 Mail transfer can be replaced in the time of telecommunication developed rapidly F 3 Under the serial payment method the instruction to credit a beneficiary account is dent together with the instruction to debit sender s account T 4 Serial payment method cannot however delay the payment between different time zones F 4 Multiple Choice 1 The remitting bank checks the documents received D A as a service to its clients B to avoid unnecessary C before sending them out D all of the above 2 Large payments should be made by D A TT B SWIFT C MT D A or B 3 A D payment does not take as long as an MT payment A SWIFT B TT C DD D A or B 4 Mail transfers are sent to the correspondent bank C unless other wise instructed by clients A by courier service B by ordinary mail C by airmail D by seamail 5 When a customer asks its bank to make a telegraphic transfer to a beneficiary abroad the charges may A A be paid either the remitter or the remittee B be debited against the nostro account C be credited to the vostro account D be paid by the remitting bank 5 Answer the following questions 1 How do you define the two types of fund transfer Remittance can be defined as two typed of fund transfer to a remit and to draw a draft To remit refers to the funds to be transferred from remitter to a payee through banks while to draw a draft means that the payee gets the funds from the remitter collected by banks 2 What are the three main ways to make a remittance Give us a brief description of the three A mail transfer is to transfer funds by means of a payment order or a mail advice A demand draft is often used when the customer wants to transfer the funds to his beneficiary by himself Telegraphic transfer refers to remittance by SWIFT 3 What are the two methods adopted in the payment transactions by T T They are cover payment method and serial payment method 4 what are the differences of the two methods used in the payment transaction In the cover method the customer payment instruction is sent separately from the instruction to transfer the funds In the serial method the customer payment and the fund transfer are sent together 5 When will the interbank compensation be used and what are the related errors occurring in the payment transactions In the process of payment transfer some mistakes may occur such as late payment duplicate payment under and over payment wrong account at the right bank and so on which may arise loss for a bank The Rules of Interbank Compensation is therefore worked out to settle the dispute among banks Chapter 6 1 Put the following phrases into English 运输单据shipping document 托收指示collection instruction 需要时的代理agent in case of need 拒绝证书protest r 印花税stamp duty 赊账open account 2 Put the following sentences into English 1 跟单托收是用于出口商既不想用赊账也不愿意用信用证的情况 Documentary collections are suitable in cases where the exporter is reluctant to supply the goods on an open account basis but does not need the strong security provided by a documentary credit 2 跟单托收统一惯例 是国际托收业务中通行的规则 The Uniform Rules for Collections URC form an internationally accepted code of practice covering documentary collections 3 单据应符合进口国家的法律和法规的要求 The type of documents should comply with the laws and regulations of the importing country 4 拒绝证书是法庭认可的拒付的法律依据 它要由公证机构来制作 Bill protesting is legal evidence of dishonor acceptable to account of law and it will come into force by a notarization of notary office 3 True or False 1 A collection on the basis of commercial credit is usually processed through banks acting as the intermediary T 2 Banks have responsibility to examine the documents thoroughly F 3 Collecting bank handles the collection business according to the collection instruction T 4 In receipt of dishonor advice the remitting bank must give appropriate instructions as to the further handling by the collecting bank T 4 Multiple Choice 1 The instructions for collection are mainly D A those in the contract B written on the Bill of Exchange C given by the importers D given by the exporters 2 It will be more convenient if the collecting bank appointed by the seller B A is a large bank B is the remitting bank s correspondent in the place of the importer C is in the exporter s country D acts on the importer s instructions 3 The operation of collection begins with B A the customer and the remitting bank B the remitting bank and the collecting bank C the presenting bank and the drawee D the collecting bank and the presenting bank 4 Detailed instructions must be sent to the collecting bank B A in the application form B in the collection order C in the documents D both A and B 5 The collecting bank will make a protest only when C A the documents are rejected B a case of need is nominated C specific instructions concerning protest are given D protective measures in respect of the goods are taken 6 If it is stated as D P the documents can be released A A against payment B against acceptance C in either way D against acceptance pour aval 7 A is the bank to which the principal has entrusting the collection A The remitting bank B The collecting bank C The presenting bank D Both A and B 8 C must make his instructions to clear in his collection order A The remitting bank the collecting bank B The principal the drawee C The principal the remitting bank D The drawee the collecting bank 5 Answer the following questions 1 What is a collection in the international settlement After the exporter has shipped the goods or rendered services to his customers abroad he draws a bill of exchange on the latter with or without shipping documents attached thereto and then gives the draft to his bank together with his appropriate collection instructions 2 What are the parties of a collection They are exporters importers remitting banks and collecting banks 3 What is a documentary collection A documentary collection is an operation in which a bank collects payment on behalf of the seller the principal by delivering documents to the buyer 4 How many types of documentary collection are there and what are they There are two types of documentary collection documents against payment and documents against acceptance 5 What does URC522 refer to The Uniform Rules for Collections URC form an internationally accepted code of practice covering documentary collections 6 What are the duties of remitting bank and collecting bank Duties of the remitting bank and the collecting bank are documents pressing and operation upon the international practice and customs Chapter 7 1 Put the following phrases into English 商业用途commercial utility 有条件的付款承诺conditional undertaking of payment 契约安排contractual arrangement 付款义务obligation of payment 独立责任independent responsibility 2 Put the following sentences into English 1 在此契约安排下的每一项条款都是独立的 Each item in contracts in this arrangement is independent of one another 2 进口商也要对远期汇票进行承兑并到期付款 An importer is also obliged to make an acceptance on the term bill of exchange and make payment on its due 3 既然大多数的信用证都是不可撤销的 故此滋养印就在开证申请书上 Since the great majority of credits are irrevocable the indication of irrevocability is printed in the application form 4 出口商在向他的银行提示单据前就应确信其单据满足了信用证的要求 Before the exporter presents the documents to his bank he must ensure that they fully meet the requirements laid down in the credit 5 银行必须根据信用证的条款和要求仔细地审核单据 The bank must check the presented documents carefully against the wording of the terms of credit 3 True or False 1 Three parties are involved in the contracted arrangement concerning a documentary credit T 2 The credit follows principles of independence and abstraction T 3 The documents and the goods are not separated from each other F 4 As long as the documents presented by the beneficiary are in complete compliance with the terms and conditions of the credit the issuing bank or the bank nominated by the credit shall fulfill the undertaking to pay accept or negotiate T 5 As for the exporter s bank it will pay or negotiate against documents presented by the exporter provided that they are in compliance with the terms and conditions of the credit T 6 The importer may not reject to issue the credit of the exporter does not effect performance bond upon the stipulation on the sales contract F 4 Multiple Choice 1 A letter of credit is B A a formal guarantee of payment B a conditional undertaking to make payment C an unconditional undertaking to make payment D a two bank guarantee of payment 2 A revocable credit cannot be amended or cancelled only after C A the documents under it have been honored B it has been amended once C the advising bank has notified the beneficiary of its opening D it has been confirmed by a correspondent bank 3 D gives the beneficiary a double assurance of payment A An irrevocable credit B A revocable credit C A confirmed credit D An irrevocable confirmed credit 4 Before opening a credit the issuing bank should D A go through the contract terms B fill in the application form C sign an agreement with the customer D inquire into the customer s credit standing 5 Settlement by documentary credit is fair to B A the shipping company B the trading companies concerned C the banks involved D all of the above 6 In credit transactions the goods and the documents are sent to the importer A A in different ways B in the same way C in different directions D at one time 7 The exporter can receive the payment only when C A he has shipped the goods B he has presented the documents C the documents presented comply with he credit terms D the importer has taken delivery of the goods 8 Banks are obligated to verify the documents received to see that C A they are authentic B they are regular C they are those listed in the collection order D they are in the right form 5 Answer the following questions 1 What are the roles of a letter of credit Letter of Credit is a popular method of payment in international trade and one of the most important methods of financing It plays an important role in the guarantee and financing of trade in the international trade 2 What are the primary parties of a letter of credit The primary parties to a Letter of Credit are the applicant the issuing bank and the beneficiary 3 What should the exporter do in a letter if credit The exporter should dispatch the goods or perform the service on time and prepare the documents required under the credit to be ready for presentation 4 How do you understand a bill of lading A bill of lading the most important document in oversea