金融英语国际结算的一些纲要.doc

I. InstrumentsA. A brief introduction1. What s instruments? a broad sense: a commercial document of title; a narrow sense: a specific, negotiable security for the purpose of paying money signed by the drawer on it which is unconditionally agreed to pay a sum in certain by the himself or by another. E.g. if agreed to pay by the maker, it is promissory note; if agreed to pay by another, it may be a draft or a cheque.2. The role of instruments(1) function of settlement; (2) function of credit guarantee;(3) negotiability (4)function of paying off debts3. Kinds of instruments: financial (cheque, notes, drafts) / commercial instruments (B/L, invoice, certificate of origin, packing list, etc.)B. Main notes used in international settlement P181. Cheque P14(1) Definition: an unconditional order in writing drawn on a bank by the drawer, requiring the bank to pay a sum certain in money to or to the order of a named person or to the bearer.(2) Clearing cheques (Procedure of clearing a cheque shown as follows)Drawer Drawing a cheque to the payee Payee Cheque AC Mandate Presenting the cheque Paying Bank Credit Advice Collecting BankPayment to Collecting Bank A. the collecting bankIts responsibility of scrutinizing a chequei. Date: out of date post-dated undatedii. Payeeiii. Words & figuresiv. Signaturev. Crossingsvi. Endorsements: how to endorse a cheque kinds of endorsements(i) Blank endorsements(ii) Specific endorsements(iii) Restrictive endorsementsB. the paying bankIts obligations:i. Legal obligations to honor dishonor a chequeii. Identifying the paying bank & time limits for dishonoring chequesii. Scrutinizin g the cheque & the AC mandateC. The payeeD. CrossingsKinds of crossings: general; special(add name of a bank)2. Draft P56(1) Definition: an unconditional order in writing prepared or drawn by one person(drawer) and addressed to another(drawee), requiring or directing the drawee to pay a specific sum of money to or to the order of a third person (the payee), to the bearer, on demand or at a fixed or determinable future time. (Refer to P15:bill of exchange; P121:Def with a specimen)(2) KindsA. Whether accompanying docs or not : Clean/Documentary drafts P5B. Maturity: Sight (demand) drafts/tenor(time, usance) drafts P5C. Source: Commercial/Bank drafts P6(3) With or Without recourse P5(4) Bank Drafts a cheque drawn by one bank on another(5) Endorsements of a draft (Refer to P23 that of a cheque)3. Promissory note P7(1) Definition: 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 the bearer.(2) Differences between a promissory note and a draft or a cheque4. Traveler s cheque P7Non-trade settlement item; Difference between travelers cheque & L/C?Credit cards P78(1) Non-trade settlement item;(2) Kinds: Credit card/Debit card; Banking card/non-banking card ;(3) five biggest Cos in the world: VISA International Master Card International; American Express Company; JCB Credit Card Company Diners Club International.II. Remittance1. A brief introduction:(1) a means of settlement(2) Kinds: instruments of remitting M/T; T/T; D/D; inward / outward2. Mail transfer & Telegraphic transfer P89(1)Book-keeping for transfers of fundsUK Customer: outward remittance in GBP how to record ?C ustomer AC Vostro ACDr. GBP xxxx Cr. GBP xxxxUK Customer: outward remittance in forCurrency how to record?C ustomer AC Nostro ACDr. GBP xxxx Cr. ForCurrency xxxxIII. Means of payment P9151. Cash in advance P9102. Open account P103. Collection P10124. Documentary credit P1215IV. Collection P15301. Outward Documentary Collection P15252. Inward Documentary Collection P2530V. Documentary letter of credit P3058(I). Concepts of the Documentary Credit P30351. An overview P302. Stages of a Documentary Credit P30313. Review of the Documentary Credit application & Security Agreement by the Issuing Bank P31334. Utilization of the Documentary Credit P335. Common Sense Rules for the Beneficiary P33346. Honoring the Obligation under the Documentary Credit P3435(II). Types & Uses of the Documentary Credits P35581. Types P3536(1) Irrevocable Documentary Credit P35(2) Revocable Documentary Credit P35362. Uses P3658(1) Irrevocable Straight Documentary Credit P36 (Specimen Refer to P37)(2)Irrevocable Negotiation Documentary Credit P3639(3) Irrevocable Documentary Credit (Unconfirmed) P39(Specimen Refer to P40-41)(4) Irrevocable confirmed Documentary Credit P3942(Specimen Refer to P43-44)(5) Revolving Documentary Credit P4245(6) Red Clause Documentary Credit P45(7) Standby Credits P4546(8) Transferable Documentary Credit P4754(9) Assignment of proceeds P5556(10)Back-to-back Documentary Credit P5758VI. Bonds, Stand-by letter of credit & Counter-trade P5872(I) Bonds P5862 (Spec imen Refer to P66-72)1. The Role of bonds in international trade P582. Types of bond P58593. On demand bonds & conditional bonds P59604. The procedure for issuing bonds P605. The procedure which bonds cause for exporters P60616. How can an exporter overcome or reduce the problems of bonds ? P61627. Other precautions an exporter can take requiring to provide bonds P62(II) Counter-trade P63651. What is counter-trade? P632. Forms of counter-trade P63(1) counter-purchase(link purchase) P63(2) Barter P63(3) Compensation or buyback deals P63(4) Barter by means of trust accounts P6364(5) Offset P64(6) Evidence accounts P643. Pitfalls of counter-trade for the exporter P644. Sources of help for the counter-trade exporter P65(1) Banks P65(2) ECGD P65(3) The Projects & Export Policy Division of the DTI P65VII. Commercial documents P73841.Transport documents used in international settlement P73772. Documents other than transport documents P7784VIII. Incoterms P8588IX. Payment systems P88901.An overview P882.SWIFT P883.CHAPS P88894.CHIPS P895.Fed wire transfer P90X. Forms P911401.Irrevocable Documentary credit application & its explanation (P91119)2.Credit form(Advice for the beneficiary) P1103. Credit form(Advice for the advising bank) P1114. Credit form(Advice for the advising bank) P1125. Credit Amendment form & its explanation (P118120)6. Draft(Bill of exchange) (Definition & a specimen P121)7. Commercial Invoice UCP 500 Articl