国际结算双语chapter 9 bank guarantee说课材料.ppt

Inbankguaranteetransaction,importersandexportersenterintodealwiththehelpofbankcredit.ItsdifferencefrombankL/Cisasfollows;ItsdocumentsrequirementissimplerthanL/CandbanksassumemorerisksinLG(=letterofguarantee).So,itisnormallyappliedinthecountrieswithcomparativelycompletecreditsystem.2.TheapplicantofL/CmustbeimporterwhiletheapplicantofL/Gcanbebuyerandseller,inwhichbankscanofferguaranteeforthepaymentofbuyerandalsofortheperformanceofseller.3.AlltheL/GsareondemandwhileL/Ccanbeeitheratsightorattenor.Inthepast,AmericanBankLawprohibitdebankersfromofferingbankguarantee,takingitasunfairtousesaversmoneyinprovidingguaranteeforthirdparty.Asbankguaranteeisoff-balancesheettransactionwithrelativelyhighmargin,Americanbankersinnovate“standbyLC”,whichisLCinitsformsandbankguaranteeinitsnature.Thus,standbyLCcanbeeithersightandattenor,benegotiated,etc.justasinthecaseofL/C.ButitsdocumentrequirementsissimplejustasinthecaseofL/G.,Definition:,Abankguaranteeisawrittenpromiseissuedbyabankattherequestofitscustomer,Buyer,or,Seller,Banker,Buyer,Seller,or,undertakingtomakepaymenttothebeneficiarywithinthelimitsofastatedsumofmoneyintheeventofdefaultbyprincipal.,Flowchartofdirectguarantee,Principal,GuaranteeBank,AdvisingBank,Beneficiary,AdvisingbankiscorrespondentofGuaranteeBank,whosedutyistochecktheauthenticityofL/GandtransmitdocumentsbetweenbeneficiaryandGuaranteeBank.3,Whenprincipaldefaults,beneficiarysubmitsdocumentsrequiredinL/GwithinvalidityofL/G.4,GuaranteeBankpaysagainststipulateddocuments8,Flowchartofindirectguaranteecounterguarantee,Principal,InstructingParty/CounterguaranteeBank,GuaranteeBank,Beneficiary,Sometimes,beneficiaryrequiresthatL/Gbeissuedbyhisownbank.,Iftheprincipaldefaults,beneficiarysubmitsdocumentstoGuaranteeBank,askingforpayments.4,GuaranteeBankexaminedocumentagainstL/G5,CounterGuaranteeBankexaminesdocumentagainstcounterguarantee.6,7,Pointstoremember,Principal,GuaranteeBank,AdvisingBank,Beneficiary,Principalmustsubmit;applicationinwriting,servicecommission,securityforpaymentunderL/G,othercharges,e.g.cable/mailpostageetc.,GuaranteeBankmustpayagainstrequireddocumentswithoutthedutyofinvestigation&collectingevidence(creditguarantee=primarydutyofpaymentagainstdocuments,notfact),whileinaccessoryguarantee,GuaranteeBankhastoperformthedutyofinvestigator.,AdvisingBankcheckapparentauthenticityofL/G&transmittheadvice&documentsbetweenbeneficiary&GuaranteeBank.ItcanalsoconfirmtheL/GattherequestofGuaranteeBank.DraftcanbedrawntoConfirmingBankifithasGuaranteeBanksa/c.,ConfirmingBank,Accessoryguarantee=suretyshipguarantee=Secondarydutyofpayment.,Bidbond,Purchaser,SellerbidswithL/Gpromisingnottowithdrawtenderbeforeadjudication(openingsealedtender),toacceptcontractawardedifwinningbid,toreplacebidbondwithperformancebondafterawardedcontract.failingwhich,GuaranteeBankwouldpayapenaltytotenderinviterrangingfrom2%5%ofcontractvalue,GuaranteeBank,Beneficiaryofthebidbond,Performancebond,Purchaser,Ifhewinsthetender,hemustsignthecontractwithpurchaserandopenaperformanceguaranteewithinprescribedtimeforpurchaser.,GuaranteeBank,Theguarantorundertakestomakepaymenttothebeneficiarywithinthelimitofastatedsumofmoneyintheeventofdefaultbythesupplierorthecontractorindueperformanceofthetermsofacontractbetweentheprincipalandthebeneficiary.,Beneficiaryofperformanceguarantee,AdvancePaymentBond,Seller,Buyer,GuaranteeBank,Theguaranteedamountistheamountoftheadvancepayment,whichis,asarule,automaticallyandproportionallyreducedfollowingeachshipment,orreducedasworkproceeds.,LoanGuarantee,Borrower,ForeignLendingBank,DomesticGuaranteeBank,Seller,LeasingGuarantee,Buyer/Borrower/lessee,GuaranteeBank,Seller/Exporter,LeasingBank,FlowchartofStandbyLC,IssuingBank,AdvisingBank,Payment/acceptanceornegotiationisconditionalupon:thepresentationofstipulateddocumentsprovidedthatthetermsandconditionsofcreditarecompliedwith.,TypesofstandbyLC:performanceStandby,-advancePaymentstandbyBidBond/TenderBondStandby,-CounterStandbyFinancialStandby,-InsuranceStandbyCommercialStandby-DirectPayStandby,Minicase:Standby(1),Applicant,Issuingbank,AdvisingBank,Beneficiary,FivedaysbeforethestandbyCreditexpired,applicantinformedissuingbank.,Minicase:Standby(2),Applicant,Issuingbank,AdvisingBank,Beneficiary,ThedaybeforeStandbyexpired,AdvisingBankpresentedviacourier,onbehalfofbeneficiary,thefollowingdocuments:1.Sightdraftonissuingbank2.Copyoftheunpaidcommercialinvoiceundated,listingdeliverydateofgoodswithin15daysoftheirpresentation,Afterexaminationofthedocuments,IssuingBankpaidthedraftunderLCby:-creditingtheaccountofAdvisingBank-debitingtheaccountofApplicant,Minicase:Standby(3),Applicant,Issuingbank,Theapplicantobjectedtothedebitofhisaccounteventhoughhehadalreadytakenpossessionofthegoods,statingthat:1.IssuingbankhadpreviouslybeeninformedbyApplicantthatnooutstandinginvoiceswereduetoBeneficiaryandissuingbankshouldnothonouranydraftunderLC.2.Issuingbankshouldhaverealizedthat,despitethefactthatthestatementofdefaultasrequiredbyLCdeclaredthatadefaultconditionbyApplicantexisted.itwasclearthatthedeliverydatesontheinvoicessignaledthattherewasnoamount30dayspastdue.3.Theinvoicesstatedthatdeliveryhadbeeneffectedonly15dayspriortot