《国际结算双语》PPT课件

InternationalSettlements国际结算,recle0215327157559,国际结算课程的性质,国际结算是国际金融学的一个分支,从微观角度探讨国际间货币运动的理论与实务问题,主要研究结算工具,结算方式和以银行为中心的资金划拨清算,其主要目的在于以最科学,最有效的方法来清算国与国之间以货币表现的债权债务关系.,国际结算课程的性质,国际结算商业银行国际结算业务紧密相关的,注重理论在实际业务中应用,具有很强的专业性和实务可操作性,也是一门适应我国银行业务与国际银行业务接轨需要,与国际惯例紧密联系,具有很强国际性的专业课程.,国际结算课程的目的,通过国际结算的教学,要求学生能够掌握国际结算的基本理论,基本知识和基本技能;做到理论与实际相结合,能够运用理论知识为指导进行国际结算的实务操作的实用型、实践型、实干型人才。,国际结算课程所处的位置,先修课程为货币银行学、货币金融学、国际金融学；后续课程包括外汇银行会计,国际融资实务、进出口单证实务等,国际结算的教学重点,以课堂讲授为主课程的重点有两个：一是国际结算方式,即汇款,托收,信用证;二是国际结算单据.通过案例教学,实训室软件模拟操作,习题练习等办法解决.,Aboutthecourse,Internationalsettlementsisacourseofintegratedtheory（一体化理论）withpractice.Itputsemphasisontheapplicationoftheoryintoactualbusinessoperations.,Importer/Buyer,Exportersbank,Funds,Goods/commodities,Exporter/Seller,Importersbank,Basicprocedureofinternationalsettlements,ShippingCo.,instruments,Funds,documents,Goods,Aboutthecourse,Internationalsettlementsisalsoacourseofourcountrysbankingbusinesslinkingupwiththeworldsbankingbusiness,itlaysstressonhandlinginternationalbusinessinEnglishinaccordancewithinternationalpractice.,OurPurpose,Forthesakeofhelpingstudentstolearninternationalsettlementsandtohaveagoodgraspofbasictheory,elementaryknowledgeandfundamentaltechnicalabilityofthiscourse,soweteachpartlyinEnglish.,Whatwillyoulearninthiscourse?,1.Threefinancialinstruments:billofexchange（汇票）,promissorynote（本票）,check(cheque支票)2.Threemaininternationalsettlementmethodsremittance（汇款）,collection（托收）,letterofcredit（信用证）3.Otherdocumentscommercialinvoice（发票）,transportdocuments（运输单据）,insurancedocuments（保险单）4.InternationalcustomsandpracticeforinternationalsettlementsURC522（托收统一规则）,UCP600（跟单信用证惯例）,Howtostudythiscourse?,提前预习与课后复习结合;理论知识与实务操作结合；考勤和平时作业考察与考试相结合.,Outline,Chapter1.IntroductiontoInternationalSettlementChapter2.InstrumentsChapter3.RemittanceChapter4.CollectionChapter5.LettersofCreditChapter6.DocumentsRelatedtoInternationalSettlementandExaminationChapter7.OtherMethodsofSettlementSystemChapter8.InternationalNon-TradeFinances,Chapter1.IntroductiontoInternationalSettlement,国际结算概述,Chapter1.Introduction,Inthischapter，youwilllearn：,1.1Definition1.2TypesofInternationalSettlement1.3HistoryandDevelopmentofInternationalSettlement1.4MajorPointsConcerningInternationalsettlements1.5BankrelationshipsininternationalSettlements,Chapter1.Introduction,Theorigin,Mostinternationalsettlementsoriginatefromtransactionintheworldtrade.Internationalpolitical,economicandculturalexchangeinevitablyleadstocreditsanddebtsowedbyonecountrytoanother.是一个国家由于对外贸易和经济合作以及政治稳获交流活动而发生的以货币表现的款项收付或债权债务结算。,Chapter1.Introduction,Importer/Buyer,Exportersbank,Funds,Goods/commodities,Exporter/Seller,Importersbank,Basicprocedureofinternationalsettlements,ShippingCo.,instruments,Funds,documents,Goods,Chapter1.Introduction,Chapter1.Introduction,1.1Definition,Internationalpaymentsandsettlementsarefinancialactivitiesconductedamongdifferentcountriesinwhichpaymentsareeffectedorfundsaretransferredfromonecountrytoanotherinordertosettleaccounts，debts，claims，etc,financialintermediary,convertiblecurrency,所谓国际结算，是指为清偿国际间的债权债务关系而发生在不同国家之间的货币收付活动,PrincipleforInternationalsettlementsEachcurrencyisclearedwithintheboundaryoftheissuingcountry.,ACo.(exporter)USA,BCo.(importer)Japan,ChemicalBankUSA,SumitomoBankJapan,Chapter1.Introduction,Currency:ConvertibleCurrency,(1)Convertiblecurrencyinexportcountry.(2)Convertiblecurrencyinimportcountry.(3)Convertiblecurrencyinthirdcountry,generallyreferredtoUScurrency.,Chapter1.Introduction,Absolutelyconvertiblecurrency,LimitedConvertiblecurrency,Unconvertiblecurrency,?,?,?,Chapter1.Introduction,ConvertibleCurrency,可兑换货币也称自由外汇，是指一种货币只要不受限制可以自由兑换成其他货币，即为可兑换货币。作为可兑换货币必须具备以下三个条件：（1）它能自由兑换成其他货币；（2）它对国际性经常项目（即贸易与非贸易项目）的支付不受限制；（3）该货币国的管理当局不采用或不实行多种汇率制度或差别汇率制度。,Chapter1.Introduction,国际结算中货币的使用原则：,出口“硬币”，进口“软币”非贸易收款“硬币”，非贸易付款软币；引进外资软币也就是收入“硬币”支出“软币”,Chapter1.Introduction,预先付款,装运时付款,装运后付款,交单后付款,交单前预付,交单时付款,国际结算方式付款时间,Chapter1.Introduction,1.2TypesofInternationalSettlement,MostinternationalpaymentsoriginatefromtransactionsintheworldTrade.Theyaremoneytransfersasaresultofinternationalclearing,suchas:Internationaltradesettlement国际贸易结算Internationalnon-tradesettlement国际非贸易结算,Chapter1.Introduction,(1)Internationaltradesettlement国际贸易结算,Withtheexpansionofglobaltradeamongstcountries,theroleofbanks,ininternationaltradefinanceisbecomingmoreandmoreimportant.Mosttransactionsmustbesettledthroughbanks.Withoutthebanksparticipation，internationaltradewouldnothavebeendevelopedtothestagewehavereachedtoday.,Chapter1.Introduction,InternationalTrade,1.Majorparticipants:,buyer,seller,banks,qualityclause,quantityclause,packageclause,priceclause,deliveryterms,insuranceclause,paymentclause,Commodityinspectionclause,3.Tradeterms:Incoterms2010,13terms,2.Salecontract:,Chapter1.Introduction,(2)Internationalnon-tradesettlement国际非贸易结算,Therearemanywaysbywhichfundscanbetransferredfromonecountrytoanotherundertradeservice.Whenthetourists,merchants,delegationsorotherpeoplegoabroad,theyneedmoneytospend,tobuysomething,ortopayforvariousexpensesandchargesthere.Themostcommonmeansforthemtocarryfundsarecash,travelerscheck,travelersletterofcreditandcreditcard.Thesearewithinthescopeofnon-tradesettlement.,Chapter1.Introduction,Howmanyinternationaltransactionscanyoulist?,visibletrade有形贸易invisibletrade无形贸易financialtransaction金融交易overseasremittances海外汇款educationalexpenses教育开支inheritances遗产继承,Chapter1.Introduction,Howmanyinternationaltransactionscanyoulist?,technologytransfer技术转让patent专利copyrightcontract版权合同foreignexchangemarkettransactions金融市场交易exportcredits出口信贷syndicatedloans辛迪加贷款internationalbond国际债券,Chapter1.Introduction,1.3HistoryandDevelopmentofInternationalSettlement,(1)Fromcashsettlementtonon-cashsettlement从现金结算到非现金结算(2)Fromdirectpaymentmadebetweeninternationaltraderstopaymenteffectedthroughafinancialintermediary从贸易商之间直接支付到通过金融中介进行支付(3)Frompaymentsundersimplepricetermstopaymentsundermorecomplexpriceterms从使用简单贸易术语结算到复杂贸易术语的结算(4)Internetera互联网的结算,Chapter1.Introduction,（1）Fromcashsettlementtonon-cashsettlement,13centuryA.D.,InstrumentsBillofexchangePromissoryNoteCheque/check,Non-CashSettlement非现金结算,ExchangeforGBP1,250.00Beijing,1April,2003AtsightpaytotheorderofDEFCo.thesumofPoundsonethousandtwohundredandfiftyonlyToXYZBank,ForABCCo.,BeijingLondon(signature),Endof18century,ExpensiveRiskyTurnoveroffundsslow,Foreignexchangebank,Non-cashsettlement非现金结算,FromthethirteenthcenturyA.D.,billsofexchangewerecreated,graduallytakingtheplaceofcoinsininternationalpayments,andthebillofexchangemarketbegantodevelop.,Chapter1.Introduction,Billofexchange,Foreignexchangebank,13centuryA.D.,endof18centuryA.D.,Foreignexchangemarket,Chapter1.Introduction,（2）Fromdirectpaymentmadebetweeninternationaltraderstopaymenteffectedthroughafinancialintermediary,Withtheworldwidebankingnetworkandmodernbankingtechnicality,bankscannotonlyprovideeasyandquicktransferoffundsneededforconductinginternationaltradebutalsofurnishtheircustomerswithvaluableeconomicandcreditinformation.,Chapter1.Introduction,（3）Fromsimplepricetermstomorecomplexpriceterms,Inthepast,internationaltradepaymentsweresettledonverysimplepriceterms,suchascashondelivery,cashonshipment,cashwithorder,cashbeforeshipment,etc.Inmoderninternationaltrade,amorecomprehensiveandexactsetoftermshasbeendeveloped.AsindicatedinINCORTERMS2010(InternationalRulesfortheInterpretationofTradeTerms)ICCPublication,thepricetermsavailableforusearemultifariousandmorecomplicatedthanbefore.,多种的,各式各样的,Chapter1.Introduction,（4）Internetera,Withthedevelopmentofcomputertechnology,businessisdoneandpaymentsandsettlementsareeffectedbymeansofallkindsofpaymentsystems,whichmakesitquickerandsaferandmoreconvenientforboththeBuyerandSeller.Nowadays,Internetisdevelopingveryfast.Thisnewtypeofbusinesstransactioniscallednetbanking.Althoughtherearealotofproblemstobesolved，netbankingisverypromising.,Chapter1.Introduction,PR,环球银行间金融电讯协会,纽约清算所交换银行相互收付系统,伦敦交换银行自动收付系统,联邦储备清算系统,communicationmeshwork/network,Chapter1.Introduction,SWIFT:TheSocietyForWorldwideInter-bankFinancialTelecommunications(环球银行间金融电讯协会),1973年5月成立,总部设在布鲁塞尔。目前，全世界已有超过200个国家的7000多个银行在使用SWIFT。计算机数据通讯网在荷兰和美国设有运行中心，在各会员国设有地区处理站。2002年，SWIFT报文承载量达8亿，日均7百万条，金额超过6万亿欧元。中国是SWIFT会员国。中国银行作为中国的外汇外贸专业银行于1983年2月加入SWIFT，成为中国第一家会员银行，1985年5月13日，中国银行正式开通SWIFT。,20世纪90年代开始，中国所有可以办理国际金融业务的国有商业银行、外资和侨资银行以及地方银行纷纷加入SWIFT。1996年中国SWIFT发报增长率为42.2%，在SWIFT全球增长率排名第一，中国银行在SWIFT前40家大用户中排名34位。中国银行每日SWIFT发报量达3万多笔，采用SWIFT方式进行收发电报已占到全行电讯总收付量的90%。SWIFT网络是国际结算、收付清算、外汇资金买卖、国际汇兑等各种业务系统的通讯主渠道，部分业务实现了自动化处理。chaining(SWIFTstudy):,Characteristics,1.SWIFTneedsmemberqualification.2.SWIFTschargeislow.Itsabout18%ofthatusedbytelex,and2.5%ofthatusedbycable.3.SWIFTissafer.(SWIFTauthenticatekey)4.SWIFThasstandarduniformformat.,Chapter1.Introduction,加入SWIFT的中国境内银行,1970年4月成立,国际美元支付系统。它是一个著名的私营跨国大额美元支付系统，是跨国美元交易的主要结算渠道。通过CHIPS处理的美元交易额约占全球美元总交易额的95%。CHIPS成员有纽约清算所协会会员、纽约市商业银行、外国银行在纽约的分支机构等。CHIPS是一个净额支付清算系统，它租用了高速传输线路，有一个主处理中心和一个备份处理中心。每日营业终止后，进行收付差额清算，每日下午六时（纽约时间）完成资金转账。,CHIPS:ClearingHouseInterbankPaymentsSystem.（跨国美元支付系统）,CHAPS:ClearingHouseAutomatedPaymentSystem,英国大额英镑清算系统。在CHAPS下，12家交换银行成为结算银行，由八条信息通道把它们和该系统的一个信息转换中心连接起来。CHAPS用于英镑资金交换的当日结算,主要由英国大型清算银行和英格兰银行使用。,Chapter1.Introduction,它归美联储所有，1913年建立，FEDWIRE将全美划分为12个联邦储备区、25个分行和11个专门的支付处理中心，主要用于金融机构之间的隔夜拆借、行间清算、公司之间的大额交易结算，美国政府与国际组织的记账债券转移业务等等。由于该系统有专用的实现资金转移的电码通讯网络，权威性、安全性较高。此外它还承担着美联储货币政策操作及政府债券买卖的重要任务。它每日运行18个小时，每笔大额的资金转账从发起、处理到完成，运行全部自动化。,FEDWIRE:FederalReservesWireTransferSystem（全美境内美元支付系统）,Chapter1.Introduction,1.4MajorPointsConcerningInternationalsettlements,(1)Internationalsettlementsmethods(2)ThefinancialinstrumentthatfacilitateInternationalsettlements(3)DocumentsusedinInternationalsettlements(4)Thecurrenciesusedininternationalsettlements.(5)Rulesandregulationsoninternationalsettlements.,makesuretheyaredifferent,URC522:UniformRulesforCollection,UCP500:UniformCustomsandPracticefordocumentarycredit,Chapter1.Introduction,DomesticSettlement,Internationalsettlements,settlement,InternationalTradeSettlement,InternationalNon-TradeSettlement,Instruments,Methods,Documents,Rules,BillofExchange,Mainmethods,Othermethods,basic,Additional,Promissorynote,Check,Remittance,Letterofcredit,Collection,Factoring,Letterofguarantee,Forfeiting,Standbyletterofcredit,Invoice,BillofLading,Insurancedocuments,Packinglist,Weightmemo,CertificateofOriginal,AllkindsofCertificates,URG,UCP,URC,国际结算的基本要素,1、银行合作是办理国际结算业务的关键所在。（结算路径）2、现代化的支付和通讯系统保证了资金顺畅、快速地跨国流动。（结算路径）3、票据是国际结算中主要支付工具。（结算工具）4、单据是实现物权转移与债务清偿的重要依据。（结算工具）5、国际结算方式是最终实现货币跨国收付的手段。（结算方式）,Chapter1.Introduction,1.5BankrelationshipsininternationalSettlements,(1)SistersBank/overseasbranch海外分行(2)RepresentativeBank(Correspondent)代理行(3)AccountingBank账户行,Chapter1.Introduction,TheWorldwideNetworkofBanks,1、RepresentativeOffice(代表处)2、AgencyOffice(代理处)3、OverseasSisterBank/Branch,Subbranch(海外分、支行(境外联行)4、CorrespondentBanks(代理银行)5、SubsidiaryBanks(附属银行(子银行)6、AffiliatedBanks(联营银行)7、ConsortiumBank(银团银行),Chapter1.Introduction,BankofChinaOverseasbranch,(2)RepresentativeBank(Correspondent)代理行,Internationalbankingiseffectedthroughthecooperationofcommercialbanksallovertheworld.Thiscooperationcomesfromtheestablishmentofcorrespondentrelationshipsbetweenbanks.Theso-calledcorrespondentbankmaybedefinedas“abankhavingdirectconnectionorfriendlyservicerelationswithanotherbank”.,Chapter1.Introduction,Thebankmayopendepositaccountswith,andentrustbusinesstoeachotheronareciprocalbasis.,互惠的,相应的,信赖,信托,交托,Chapter1.Introduction,Whenselectingabankasacorrespondentbank,whatfactorsshouldbetakenintoaccount?,Thereputationofthebank;Sizeofthebank;Locationofthebank;Servicesofferedbythebank;Fundamentalpoliciesandstrengthofthebank;Physicalfeaturesandpersonnel;Momentumofearlystart,etc.,Chapter1.Introduction,Agencyarrangement,Controldocuments,Establishacorrespondentrelationshipbetweentwobanks.,Whatdocontroldocumentsinclude?,Chapter1.Introduction,ControlDocuments,Listsofspecimenofauthorizedsignatures印鉴Verifythemessages,letters(airmailed)areauthenticTelegraphictestkeys密押VerifythetelexandcableareauthenticTermsandconditions费率表SWIFTauthentickey验证码,是银行列示的所有有权签字的人的有权签字额度、签字范围、有效签字组合方式以及亲笔签字字样。代理行可凭其核对对方银行发来的电报、电传等的真实性。,是两家代理行之间事先约定的专用押码，在发送电报时，由发送电报的银行在电文前面加注，经接受电报的银行核对相符，用以确认电报的真实性。,Chapter1.Introduction,BankofChina,(3)Inter-bankaccount,Acurrentaccountoracheckingaccountmaybeopenedbetweenbankswiththeestablishmentofacorrespondentbankingrelationship.Anybankbeforeopeninganaccountinitscorrespondentbank,mustbeawareofthedetailedconditionsofthisconnection,suchasamountofinitialdeposit,minimumcreditbalanceforcoveringthecostofservicesprovided,interestrateoftheaccount,overdraftpermission,andhowoftenthestatementofaccountissent.,Chapter1.Introduction,Depositor,DepositoryBank,Currenta/cXXX,DepositorBank,Currenta/cXXX,DepositoryBank,账户行,开户行,存款客户,账户行,Chapter1.Introduction,Nostroaccount往账TheItalianword“Nostro”means“our”.Nostroaccountistheforeigncurrencyaccount(duefromaccount)ofamajorbankwiththeforeignbanksabroadtofacilitateinternationalpaymentsandsettlements.我行在它行开立的存款账户Vostroaccount来账TheItalianword“Vostro”means“your”.TheItalianword“Vostro”means“your”.Vostroaccountisanaccount(duetoaccount)heldbyabankonbehalfofacorrespondentbank它行在我行开立的存款账户,Chapter1.Introduction,Nostroaccount:istheforeigncurrencyaccount(duefromaccount)ofamajorbankwiththeforeignbanksabroadtofacilitateinternationalsettlements.,FromthepointofBankofChina,anostroaccountisourbanksaccountinthebooksofanoverseasbank,denominatedinforeigncurrency.,USDAccount,BankofNewYork,BankofChina,往账,Chapter1.Introduction,ABank,BBank,Currenta/cXXX,BBankscurrency,A/CXXXisABanks_a/c,Nostro,Chapter1.Introduction,Vostroaccount:isthedomesticcurrencyaccount(duetoaccount)heldbyabankonbehalfofacorrespondentbank.,FromthepointofviewofBankofChina,avostroaccountisanoverseasbanksaccountwithus,denominatedinRMB.,BankofChina,HongkongandShanghaiBankingCorporation,Ltd.,HongKong,RMBAccount,来账,Chapter1.Introduction,ABank,BBank,Currenta/cXXX,ABankscurrency,A/CXXXisABanks_a/c,Vostro,Exercise:,Chapter1.Introduction,Servicesprovidedbycorrespondents,(1)Collectingchecks,drafts,andothercreditinstruments;(2)Makingloanorinvestmentsasagentfortheircustomerbanks;(3)Makingcreditinvestigationsoffirmsthatborrowintheopenmarket;(4)Providingbankswithforeignexchangefacilities,includingcommercialandtravelerschecks;(5)Providingbankswithfunds/loansincaseofneed.,Chapter1.Introduction,Attention:,MajorPointsConcerningInternationalPaymentsandSettlementsare:国际支付与结算应注意的主要问题(1)Internationalpaymentandsettlementmethods；(2)Thefinancialinstrumentsthatfacilitateinternationalpaymentsandsettlements；(3)Documentsusedininternationalpaymentsandsettlements；(4)Thecurrenciesusedininternationalpaymentsandsettlements；(5)Rulesandregulationsoninternationalpaymentsandsettlements,Chapter1.Introduction,Thinking,1、什么是国际结算？其发展经历了哪几个阶段？2、国际结算的特征是什么？3、简述银行海外机构网络的构成。4、国际结算的三种基本结算方式是什么？,Chapter1.Introduction,Chapter2.Instruments,信用工具,Chapter2.Instruments,Inthischapter，youwilllearn：,2.1creditinstrument2.1.1Definitionofcreditinstrument2.1.2Thefunctionsofanegotiableinstrument2.1.3Thecharacteristicsofeachinstrument2.1.4Instrumentslawsystem2.2Thethreeimportantnegotiableinstruments：Billofexchange，promissorynoteandcheque,Theessentialsofeachinstrument,Chapter2.Instruments,2.1creditinstrument,2.1.1DefinitionofcreditinstrumentAcreditinstrumentisawrittenorprintedpaperbymeansofwhichfundsaretransferredfromonepersontoanother.Creditinstrumentsmostcommonlyusedininternationalpaymentsandsettlementsarebillsofexchange,promissorynotesandchecks.Theyarealsoknown,negotiableinstruments.Creditinstrumentsmayalsotakesuchformsastravelerscheque,certificatesofdeposit，treasurybills,treasurybonds,etc.,Chapter2.Instruments,Instrumentscharacteristic:,1)Negotiability2)Non-causativeNature3)RequisiteinForm4)Presentment5)Return-ability,流通性,无因性,要式性,提示性,返还性,Chapter2.Instruments,Chapter2.Instruments,NegotiableInstrument,Anegotiableinstrumentisachoseinaction,thefullandlegaltitletowhichistransferablebydeliveryoftheinstrument(possiblywiththetransferorsendorsement)withtheresultthatcompleteownershipoftheinstrumentandallthepropertyitrepresentspassesfreelyfromequitiestothetransferee,providingthelattertakestheinstrumentingoodfaithandforvalue.,Negotiableinstrumentinbroadsense,Twowordsrelativetotransferanegotiableinstrument,流通票据是一种法定的财产，这种财产的全部或法定的权益可以通过交付进行转让（可以凭转让方的背书），其转让的结果是只要受让人是正当取得或者支付对价而取得该财产，该票据的全部所有权及其所代表的财产权益将转移给受让人。,Chapter2.Instruments,conprehensive广义的票据,狭义的票据,泛指一切有价证券和各种凭证,以支付金钱为目的的可以转让流通的特种证券,狭义票据是国际结算的重要工具:BillofExchange(汇票)、PromissoryNote(本票)和Cheque(支票)。,Chapter2.Instruments,Instrumentscharacteristic:,1)Negotiability流通性Anegotiablebillmaybepayabletotheorderofaspecifiedperson.Anegotiablebillmaybepayabletobearer.Abillonwhichtheonlyorlastendorsementisanendorsementinblankmaybenegotiable.Abillpayabletoaspecifiedpersondoesnotcontainwordsprohibitingtransferorindicatinganintentionthatitshouldnotbetransferable,itmayalsobenegotiable.,Chapter2.Instruments,Billofexchange汇票Check/cheque支票PromissoryNote本票Dividendwarrant股利单Bearerbond不记名债券(流通债券)Bearerscrips持有人凭证Debenturepayabletobearer不记名信用债券Sharewarrantpayabletobearer不记名股份证书Treasurybill国库券Certificateofdeposit存单,Kindsofnegotiableinstrumentinbroadsense,Chapter2.Instruments,Instrumentscharacteristic:,2)Non-CausativeNature无因性Thereason(s)ofissueorendorseneednottowriteonthefaceofthebill.3)RequisiteinForm要式性Thebillmustcontainstheprerequisiteitemsrequiredbythelaw.,Chapter2.Instruments,Instrumentscharacteristic:,4）presentment提示性PresentforpaymentPresentforacceptance5）Returnability返还性Returnthembacktoissuer,Chapter2.Instruments,FunctionsofInstruments,1)Asameansofpayment2)Asacreditinstrument3)Asatransferableinstrument,Chapter2.Instruments,Instrumentslawsystem,1)BritishandUSAlegalsystem:theBritishCommonwealthofNationsandUSA.BritishLegalSystem“BillofExchangeAct”,1882,draftedbyChambers;Article172:BillofExchangeArticle7382:ChequeArticle8389:PromissoryNoteArticle9097:Cheque(1957Revision)USAlegalsystem“UniformNegotiableInstrumentLaw,draftedbyCrawford;“UniformCommercia