国际结算第六讲.ppt

2020/5/25,1,Itisanunconditionalpromiseinwritingmadebyonepersontoanother,signedbythemaker,engagingtopay,ondemandoratafixedordeterminablefuturetime,asumcertaininmoney,to,ortotheorderof,aspecifiedpersonortobearer.,DefinitionofthePromissoryNote:,2020/5/25,2,PROMISSORYNOTES,Promissorynoteis:awrittenpromisetopayadeterminatesumofmoneymadebetweentwoparties.Maker:Theissuerofapromissorynote.Payee:Thepersontowhomthenoteistobepaid.,2020/5/25,3,EssentialstoPromissoryNote,2020/5/25,4,PromissoryNote,Nov.2,2004$10,000NewYork,NewYorkNinetydaysaftertheabovedateforvaluereceived,theunder-signedjointlyandseverallypromise(s)topaytotheorderof:BANKOFTHERIVER,at100HudsonAve.,NewYork,NewYork02167TenThousandandoo/100DOLLARSWithinterestfromthedateaboveattherateof-11-percentperannum(computedonthebasisofactualdaysandayearof360days)payableatmaturityOfficer:JonesNo:990-11-9999_,PROMISSORYNOTES,2020/5/25,5,DifferenceBetweenaPromissoryNoteandaBillofExchange:1.Itisapaymentpromise,notapaymentorder.2.Thereareonlytwopartiestoapromissorynote,themakerandthepayee.3.Themakerisprimarilyliableonthepromissorynote.4.Whenissued,ithasanoriginalnoteonly.5.Thereisnoacceptancerequirement.,PROMISSORYNOTES,2020/5/25,6,MajorformsofPromissoryNote,(1)Accordingthemaker,promissorynotecanbeclassifiedasTradePromissoryNoteandBankPromissoryNote.TradePromissoryNoteisissuedbyabusiness.BankPromissoryNoteisissuedbyabank.Tradepromissorynoteisbetterthanbankpromissorynoteincredit.(2)Accordingtothetenor,promissorynotecanbeclassifiedassightpromissorynoteandtimepromissorynote.sightpromissorynoteispayableatsightorondemandTimepromissorynoteispayableatafixedfuturedateoradeterminablefuturedate.,2020/5/25,7,MajorformsofPromissoryNote,(3)InternationalMoneyOrder(国际汇票）AlsobecalledOverseasMoneyOrder(MO)OverseasMoneyOrderisissuedbyclearingbanksinNewYorkforpayeesconveniencewhenheistravelingoutsidetheU.S.OverseasMoneyOrderisusuallydenominatedinUSdollarswiththemaximumamountnotexceedingUSD2,500.OverseasMoneyOrdercanalsobeusedtosettlepaymentsininternationaltradewhentheamountissmall.,USBank,MO,Holder,TravelinGB,GBBank,MO,2020/5/25,8,(4)TravelerscheckThesechecksarefrequentlyusedbypersonsjourneyinginthiscountryandabroad.,Definition:Atravelerscheckisaspeciallyprintedformofcheckissuedbyafinancialinstitution,leadinghotels,andotheragenciesinpreprinteddenominationsforafixedamounttoacustomerforusewhenheisgoingtotravelabroad.,2020/5/25,9,Toguardagainstfraud(欺诈）,thecustomerisgenerallyrequiredtowriteinhisnameoneachtravellerschequeinthepresenceoftheissuingbankandtocountersigneachinstrumentinthepresenceofthecorrespondent.,Thetwosignaturesarethencompared.TravellerscheckshavebeenheldbycourtsintheUnitedStatestobenegotiable,buttheredoesnotappeartobereportedEnglishdecisionuponthissubject.,2020/5/25,10,Check,Anconditionalorderinwritingaddressedbythecustomertoabanksignedbythatcustomerauthorizingthebanktopayondemandasumcertaininmoneytoortotheorderofaspecifiedpersonorbearer.Insimplewords,acheckcanalsobedefinedasabillofexchangedrawnonabankerondemand.,2020/5/25,11,Check,Checks:draweeholdsmoneyonaccountfordrawer.Draweeisabank.Checksarealwayspayableondemand.,2020/5/25,12,Threepartiesincheck,(1)TheDrawerPersonwhowritesthecheck.Drawershouldmeetthefollowingrequirements:ShouldbethebankscustomerandmaintainanaccountwiththebankTomakesurethatthereisenoughbalanceinhisaccounttocoverthecheckamount.Otherwise,thecheckwillbebounced(退票）.(2)TheDraweeThedraweeisthebankeronwhomthecheckisdrawnandtowhomtheordertopayisgiven.Thedraweeisthebankwithwhichthedrawermaintainsanaccount.(3)ThePayeeThepayeeisthepersontowhomacheckisexpressedtobepayable.,2020/5/25,13,EssentialsToaCheck,(1)TheWord“Cheque”Theword“cheque”shouldbeclearlyindicatedinordertodistinguishitfromothertypesofinstrumentslikethebillsofexchangeandthepromissorynotes.(2)UnconditionalPaymentcannotbemadeoncertainconditionstobemetbythepayee.(3)WritingItmustbeinwrittenform.(4)SignedAchequemustbesignedbythedrawer,fromwhoseaccountthemoneyispaidout.,2020/5/25,14,ClassificationofaCheck,Accordingtodifferentcriteria,checkscanbeclassifiedintothefollowingtypes:,DividedbyOrder,byDrawer,byCrossedornot,2020/5/25,15,ClassificationofaCheck,(1)AccordingtoOrder1.DemonstrativeorderWhenacheckispayabletoanamedpersonorhisorder,itisademonstrativeordercheckandcanbetransferredbyendorsementanddelivery.2.RestrictiveorderArestrictiveordercheckisonethatispayabletoanamedpersononly.Itisnon-negotiable.3.BearerorderAbearerordercheckisonethatispayabletothebearer.Itistransferablebymeredelivery.However,itshouldbenotedthatchequesarenotdesignedtobenegotiated,therulesonnegotiationhavelittlesignificanceoncheques.,2020/5/25,16,ClassificationofaCheck,(2)AccordingtoDrawer1.BankerschequeAbankerscheckmeansthatthedrawerisabank.Itisacheckdrawnbyonebankonanotherbank.Andthedrawerbecomesthecustomerofthedraweebanker.2.Personalcheck/TraderscheckWhenthedrawerisanindividualoracompany,itisapersonalcheck/traderscheck.,2020/5/25,17,ClassificationofaCheck,(3)AccordingtoWhetherornottheChequeisCrossedThisisthemostimportantclassificationofcheque,whichdemandsourfullattention.(A)Uncrossedcheque/OpenchequeAnuncrossedoropenchequereferstotheonewhichiswrittenon“plain”blankform,implyingthatthechequecanbeexchangedforcashoverthecounterwhenthepayee/holderpresentsthechequeforpaymenttothedraweebank.(B)CrossedchequeAcrossedchequereferstotwoparallellinesdrawnonthefaceofthecheque,andusuallythisisdoneonthetopleftcornerofthecheque.Itimpliesthatthechequeamountshouldbepaidintoabankaccountandcannotbeexchangedforcashoverthecounter.Thepurposeofcrossingachequeistoensuretherightholdertoobtainthepayment.,2020/5/25,18,Thedrawerdrawsachequeanddeliversittopayee.,Theproceduretoclearacrossedchequeisshownasfollows:,Thepayeedepositsthechequetothecollectingbankandasksthelattertocollectpaymentsforhim.,Afterscrutiny,thecollectingbankforwardsthechequetothedraweebankonbehalfofthepayee.,Thepayingbanktransfersthefundstothecollectingbank.,Afterscrutiny,thedraweedebitstheamountfromthedrawersaccountwithhim.,thecollectingbankcreditstheamounttothepayeesaccount.,2020/5/25,19,ClassificationofaCheck,(4)CertifiedchequesCertifiedchequesensurethattheinstrumentwillbehonoredbythebank.Treatedlikeacceptedbillofexchange,2020/5/25,20,Therearemanypointsofsimilaritybetweenbillsandcheques.Thisisunderstandable,becauseachequeisaparticulartypeofbill.However,thefollowingpointsofdifferencemaybenoted.,DifferencesbetweenCheckandDraft,2020/5/25,21,1.Abillmaybedrawnuponanyperson,whereasachequemustbedrawnuponabanker.,2.Abillmaybepayableondemandoratafixedordeterminablefuturetime,whereasachequeusuallybepayableondemand.,DifferencesbetweenCheckandDraft,2020/5/25,22,3.Unlessabillispayableondemand,itisusuallyaccepted,whereupontheacceptoristhepartyprimarilyliabletotheholder.Achequeisnotusuallyaccepted,andthedraweristhepartyprimarilyliable.,DifferencesbetweenCheckandDraft,2020/5/25,23,4.Thereisnoprovisionwhichenablebillstobecrossed,whereaschequesmaybecrossed.,法规要求的保障,DifferencesbetweenCheckandDraft,5.Draftisasetoftwo,whereascheckissola.6.ThereisnoDrawnClauseonthecheck.,2020/5/25,24,PaymentMethods(1)-Remittance,3,Chapter,2020/5/25,25,WhatisPaymentMethods(支付方式）?,Paymentmethodswillcombinepaymenttools(cashandinstrument)withvarioustradeterms(Incoterms)ordifferentcommercialdocuments.Paymentmethodstellushowtofinishpaymentwithinstruments.Majorpaymentmethodsareremittance（汇付）,collection（托收）,letterofcredit（信用证）,factoringandletterofguarantee（福费庭和保函）.Differentpaymentmethodsrepresentdifferentrisksorcredittothetradersbecausetheycanmakethetimeofpaymenteitherbefore,afteroratthesametimeasthetimeofdelivery.,2020/5/25,26,HighestRiskandcosttoExporterLeast,LeastRiskandcosttoImporterHighest,2020/5/25,27,Classificationofpaymentmethods,2020/5/25,28,2020/5/25,29,Remittance,DefinitionofRemittanceRemittancereferstoabank(theremittingbank),attherequestofitscustomer(theremitter),transfersacertainsumofmoneytoitsoverseasbranchorcorrespondentbank(thepayingbank)instructingittopaytoanamedperson(thepayee/beneficiary)domiciledinthatcountry.Remittanceisusedforthesettlementofbothcommercialandnon-commercialsettlements.Remittanceisanimportantpaymentmethodininternationalbankingbusiness.,2020/5/25,30,Remittance,PartiesinRemittance,2020/5/25,31,Remittance,PartiesinRemittance1)Remitter(汇款人）Thepartywhowillmakethepayment.Personwhorequireshisbanktoremitfundstothebeneficiaryinaforeigncountry.buyerandimporter2)RemittingBank(汇出行）Thebankwhoremitsthefundsattherequestofaremittertothepayingbankandinstructsthelattertopayacertainofmoneytoabeneficiary.Importersbank,2020/5/25,32,Remittance,PartiesinRemittance3)payingbank/ReceivingBank(解付行）Apayingbankisthebankentrustedtobytheremittingbanktopayacertainsumofmoneytoabeneficiary.Thepayingbankusuallylocatesinthesamecityasthatoftheexporterandisoftentheexportersbankininternationaltrade.4)Payee/BeneficiaryIsthepersonwhoisaddressedtoreceivethefundsbyremittance.Istheexporterininternationaltrade.,2020/5/25,33,Typesofremittanceandprocedure,Accordingtodifferentwaystogivepaymentinstruction,remittancecanbeclassifiedas:1)remittancebymail(M/T)信汇2)remittancebytelegraphictransfer(T/T)电汇3)remittancebybankersdemanddraft(D/D)票汇,2020/5/25,34,RemittancebyAirmail(M/T),（1）DefinitionofRemittancebyAirmail(M/T)Theremittingbank,attherequestoftheremitter,transfersthefundsbymeansofsending/postingapaymentinstructiontothepayingbank,askingthelattertopayacertainsumofmoneytothepayee.M/Tmakesuseofpostservicetotransferthepaymentinstructions.Apaymentinstructionisanauthenticatedorderinwritingaddressedbytheremittingbanktothepayingbank.InM/T,thepaymentinstructioncantaketheformofMailTransferAdviceorMailTransferPaymentOrderorDebitAdvice.,2020/5/25,35,RemittancebyAirmail(M/T),（2）ProcedureofRemittancebyAirmail(M/T),Remitter,RemittingBank,PayingBank,Payee,Funds,2020/5/25,36,Remittancebytelegraphictransfer(T/T),Remittancebycable/telex/SWIFTiscalledtelegraphictransfer(T/T).Theremittingbank,attherequestoftheremitter,transfersfundsbymeansofcable/telex/SWIFTmessagetothepayingbank,askingthelattertopayacertainsumofmoneytothebeneficiary.,2020/5/25,37,Telegraphictransfer(T/T),Theremittergiveshissignedwrittenapplicationtohisbank,instructingtotransferthefundsthroughT/T.,Remitter,RemittingBank,PayingBank,Payee,Funds,2020/5/25,38,RemittancebyBankersDemandDraft,Theremittingbank,attherequestoftheremitter,drawsabillofexchangeonthepayingbankorderingthelattertopayondemandacertainsumofmoneytothebeneficiarywhowillalsobethepayeeofthedraft.,2020/5/25,39,RemittancebyBankersDemandDraft,TheremittergiveshissignedwrittenapplicationtohisbankinstructingthebanktotransferthefundsbyD/D.,Remitter,RemittingBank,PayingBank,Payee,Theremittingbankwillchecktheremittersaccountwithhim.ifitispositive,theremittingbankwilldebittheaccountanddrawadraftonthepayingbankpayabletothebeneficiary.,Theremitterwillsendthedrafttothebeneficiary.,Theremittingbankwillkeepthepayingbankawareoftheremittanceviainter-banksystem.,Uponreceiptofthedraft,thebeneficiarywillpresentthedraftforpaymenttothepayingbank.,Afterauthenticationofthedraftagainstauthorizedsignature,thepayingbankwillreleasethefundstothebeneficiary.,Thepayingbankwillclaimreimbursementagainsttheremittingbank.,2020/5/25,40,ComparisonoftheM/T,T/TandD/D,Acustomercanrequesthisbankertotransmitthefundsbyanymethod.Thesemethodsaredifferentwitheachother.,2020/5/25,41,PracticeofRemittance（国际银行汇兑实务）,ReimbursementofRemittanceCover（汇款的偿付）Reimbursementmethods1)creditingvostroaccountofthepayingbankIfthepayingbankopensacurrentaccountwiththeremittingbank,thereimbursementinstructionsshouldbewrittenas:“incover,wehavecreditedthesumtoyouraccountwithus.”,RemittingBank,PayingBank,2020/5/25,42,2)DebitingremittingbanksnostroaccountIfthepayingbankmaintainstheremittingbanksaccount,thereimbursementmaybeinstructedas:“Pleasedebitthesumtoouraccountwithyou”“Youareauthorizedtodebitthesumtoouraccountwithyou”Aftereffectingpayment,thepayingbankdebitsthesumtotheaccountoftheremittingbankwiththem.,RemittingBank,PayingBank,2020/5/25,43,3)instructingareimbursebanktoeffectpaymentbydebitingthebanksnostroaccountIftheremittingbankdoesnotopenanaccountwiththepayingbank,theformermayinstructitscorrespondentwithwhichitmaintainsanaccount,todebitthisaccountwiththatcorrespondent,too,ortopaytheamounttoanotherbankwiththepayingbankmaintainsanaccount.Thereimbursementclauseisthuswritten:“Incover,wehaveauthorizedTheBankofTokyo,NewYorktodebitouraccountandcredityouraccountwiththeabovesum.”Incover,wehaveinstructedTheBankofTokyo,NewYorktopaytheproceedstoyouraccountwithTheStandardCharteredBank,NewYork.”,RemittingBankA,PayingBankB,CorrespondentC,2020/5/25,44,4)Instructingthepayingbanktoclaimreimbursementfromanotherbranchofthesamebankoranotherbankwithwhi