信用证毕业论文

1、毕业设计题 目 Letter of Credit姓 名 学 号专业年级11商务英语专三指导教师 职 称讲师ContentsChapter I. I ntroduct ion1.1.1 Definition of Letter of Credit11.2 The Cause1.1.3 The An alysis1.Chapter II. The Content of the L/C22.1 The Description of the L/C2.2.2 Requireme ntsof the Goods22.3 Requireme ntsof the Shipmen.t22.4 Requirem

2、e ntsof the Docume nt2.2.5 Special Requirements3.Chapter 川 Rights and Obligation3.3.1 Issu ing bank3.3.2 Advis ing bank3.3.3 Ben eficiary3.3.4 Negotiati ng bank4.3.5 Pay ing bank4.Chapter IV Procedure Summarized from the L/C in Question44.1 First Step4.4.2 Notice to the Issu ing Bank.4.4.3 Delivery

3、to the Advis ing Bank44.4 Duty of the Advis ing Bank.5.4.5 Property of the L/C.5.4.6 The Details of Shipp ing.5.Appe ndix7.Chapter I. Introduction1.1 Definition of Letter of CreditA letter of credit or L/C is a conditional undertaking of payments by a bank. It is an undertaking issued by a bank for

4、the account of the buyer (the applicant )or for its own account, to pay the beneficiary the value of the draft and/or documents provided that the terms and conditions of the documentary credit are complied with.1.2 The Function of L/CThe letter of credit is the mostly widely used instrument of inter

5、national banking. In international trade it is almost impossible to match payment with physical delivery of the goods, which constitutes conflicting problems for trade. Since the exporter prefers to get paid before releasing the goods and the importer prefers to obtain control over the goods before

6、paying the money. The letter of credit is an effective means to solve the problem. Its objective is to facilitate international payment by means of the creditworthiness of the bank. This method of payment offers security to both the seller and the buyer. The former has security to get paid provided

7、he presents impeccable documents while the latter has the security to get the goods required through the documents he stipulated in the cerdit.1.3 The AnalysisThis thesis design is about the analysis of the L/C between United Overseas Textile Corp. Los Angeles, U.S.A. and Qingdao Qinghai Co., LTD. Q

8、ingdao China. by means of an outline. The design aims to explore the basic components of a Letter of Credit.Chapter II . The Content of the L/C2.1 The Description of the L/CThe L/C in question is an irrevocable credit, to be exact, which once opened by the issuing bank is not free to modify or revok

9、e without the beneficiary or negotiating bank and other releva nt parties'agreeme nt with in the validity period, as long as the ben eficiaries offer the releva nt docume nts accord ing to payme nt provisi ons, the issu ing bank or appo in ted by the issu ing bank guara ntees full payme nt. From

10、 the L/C, it can be seen that the due time is on or before 2nd November, 2013.2.2 Requirements of the GoodsThe descripti on of goods which contains 71000M of 100% polyester wove n dyed fabric and/or services is that trade terms is CIF Los Angeles port. U.S.A. and the origin is China. The unit price

11、is USD 0.75 per M and the weight is 150cm, >180G/M2.2.3 Requirements of the ShipmentAs for the shipme nt, the L/C reads from Qin gdao to Los An geles not later tha nth17 October, 2013. Partial shipments are not allowed. Tran-shipments are not allowed. The descripti on of goods an d/or services is

12、 obvious, which can be easily got by the author from the L/C.2.4 Requirements of the DocumentThe advice or irrevocable can'tbe modified opti on ally without the ben eficiary or n egotiati ng bank and other releva nt docume nfsagreeme nt.2.5 Special RequirementsIn the docume nt, the author can se

13、e the special in struct ions. Drafts draw n must be in scribed with the nu mber. The date of this credit and docume nts have to be prese nted with in 15 days after the date of issua nee of the bill of lad ing or other shipping documents. We undertake to honor your drafts drawn and negotiated in conf

14、ormity with the terms of the credit provided such negotiation has been made prior to receipt by your no tice of can cellati on.Chapter 川 Rights and Obligation3.1 Issuing bankThe issuing bank (here refers to the Citibank International from Los Angeles) issues a letter of credit at the request of an a

15、pplica nt. By issu ing a credit the issu ing bank undertakes full responsibility for payment against proper documents presented by ben eficiary.3.2 Advising bankThe advising bank(here refers to the Bank of China Qingdao Branch from Qingdao) has the task of informing the beneficiary that the credit h

16、as been issued in his favor so that the beneficiary may take necessary preparations for shipping the goods and draft the docume nt regulated in the credit.3.3 BeneficiaryBen eficiary (here refers to Qin gdao Qin ghai CO., LTD.) asks for the issu ing of the credit under the document stipulated so tha

17、t the beneficiary can obey his obligatio ns.3.4 Negotiating bankNegotiat ing bank purchases the docume nt un der the credit. If all the credits terms are met, the negotiating bank will buy the exporters drafts with or without recourse and then it will send the drafts and documents to the issuing ban

18、k for the reimburseme nt.3.5 Paying bankPaying bank is authorized by the issu ing bank to pay the ben eficiary accord ing to the terms and con diti ons of the credit.Chapter IV Procedure Summarized from the L/C inQuestio n.4.1 First StepThe buyer (Un ited Overseas Textile Corp.) and the seller (Qi n

19、gdao Qin ghai CO., LTD. ) agree on the terms of the sale, which includes specifying a documentary credit as the terms of payme nt, naming an advis ing bank and listi ng the required docume nts.4.2 Notice to the Issuing BankThe buyer applies to his bank for the ope ning of the credit and the con clus

20、i on of the security agreeme nt betwee n the applica nt and the issu ing bank.4.3 Delivery to the Advising BankThe issuing bank (Citibank International from Los Angeles) sends the docume ntary credit to the advis ing bank n amed in the credit.4.4 Duty of the Advising BankThe advis ing bank (Ba nk of

21、 China Qin gdao Branch from Qin gdao) in forms the seller of the docume ntary credit.4.5 Property of the L/CThis letter of credit can ' be revoked. Since the date of the issuing of letter of credit, the issuing bank is restrained by its terms and commitments. If is necessary to can cel or modify

22、, the terms of the credit to the ben eficiary is still effective before the ben eficiary show the accepta nee of the ame ndme nt to no tify the bank. Of course, with the consent of the issu ing bank, the con firm ing bank and the ben eficiary, the letter of credit can be revoked or modified even if

23、it is irrevocable.4.6 The Details of ShippingThe steps of utilization refers to the procedure of the seller's shipping of the goods, the transmission of documents from the seller to the buyer through the banks, and the tran sfer of the payme nt from the buyer to the ben eficiary through the ban

24、ks. First, the seller ships the goods to the buyer and obtains the title documents from the shipp ing line. Second, the advis ing bank reviews the docume nt package making certain the documents are in conformity with the terms and conditions of the credit and pays the seller accord ing to the terms

25、of the credit. Third, the advis ing bank sends the docume nts by mail or by courier or other telegraphic means. Fourth, it is what the issu ing bank n eeds to do in clud ing review ing the docume nts making certa in that they are in conformity with the terms of the credit, paying the advising bank a

26、ccording to their reimburseme nt agreeme nt and advis ing the buyer that the docume nts have bee n received. Fifth, it is what the buyer n eeds to do in cludi ng review ing the docume nts making certain that they are in conformity with the terms of the credit, making payme nt to the issu ing bank an

27、d gett ing the shipme nt by the docume nts give n by issu ing bank. From the whole process, the bus in ess betwee n Un ited Overseas Textile Corp. Los Angeles, U.S.A. and Qingdao Qinghai Co., LTD. Qingdao China was successfully settled.AppendixFROM : CITIBANK INTERNATIONAL , LOS ANGELES, U.S.A.:39A

28、: PRECENTAGE CREDIT AMOUNT TOLERANCETO : BANK OF CHINA QINGDAO BRANCH:27: SEQUENCE OF TOTAL:40A: FORM OF DOCUMENTARY CREDIT:20: DOCUMENTARY CREDIT NUMBER:3IC: DA TE OF ISSUE:40E: APPLICABLE RULES:31D: DATE AND PLACE OF EXPIRY:50: APPLICANTU.S.A.:59: BENEFICIARY186 CHONGQIN ROADQINGDAO 266002 CHINA:3

29、2B: CURRENCY CODE, AMOUNT:41A: AVAILABLE WITH. BY.PAYMENT:42P: DEFERRED PAYMENT DETAILS:43P: PARTIAL SHIPMENTS,QINGDAO , CHINA1/1IRREVOCABLECRED1523349130906UCP LATEST VERSION131102 U.S.A.UNITED OVERSEAS TEXTILE CORP.220E 8TH STREET A682LOS ANGELESQINGDAO QINGHAI CO.,LTD.USD58575 , 0010/10CITIUS33LA

30、X BY DEFERREDAT 90 DAYS AFTER B/L DATENOT ALLOWED:43T: TRANSSHIPMENTNOT ALLOWED:44E: PORT OF LOADING/AIRPORT OF DEPARTUREQINGDAO PORT , CHINA:44F: PORT OF DISCHARGE/AIRPORT OF DESTINATIONLOS ANGELES PORT,U.S.A.:44C: LATEST DATE OF SHIPMENT131017:45A: DESCRIPTION OF GOODS AND/OR SERVICES+TRADE TERMS: CIF LOS ANGELES PORT , U.S.A.ORIGIN:CHINA+ 71000M OF 100% POL YESTER