国际结算练习程丽萍答案

1、Exercise 1一、Make choice of whether the followi ngbills are acceptable or not.Mark X before acceptable or un acceptable you chose.(1) A bill shows: pay to ABC Co. provid ing the goods in complia neewith con tract the sum of one thousa nd US Dollars. It isacceptable/un acceptable.(2) A bill shows: pay

2、 to ABC Co. the sum of ten thousa nd US dollarson con diti on that shipme nt of goods has bee n made. It is acceptable/un acceptable.(3) A bill shows: On dema nd pay to the order of ABC Co. the sum oftwenty thousa nd US dollars draw n aga inst shipme nt of 10bales cott onpiece goods from Tianjin to

3、London. It isacceptable /un acceptable.(4) A bill shows: pay to ABC Co. out of proceeds of sale of woollenbla nkets the sum of one thousa nd US dollars. It isacceptable /un acceptable.(5) A bill shows: pay from our No. 2 account to ABC Co. the sum ofone thousa nd US dollars. It isacceptable / un acc

4、eptable.(6) A bill shows: pay to ABCCo. or order thesumof one thousand poundsand debit our No. 2 acco un t. It isacceptable /un acceptable.(7) A bill shows :after customs clearanee pay to the order of ABCCo.the sum of twenty thousandUS dollars. It is acceptable /un acceptable.(8) A bill shows: pay t

5、o Mary the sum of fifty pounds and give hera suit of clothes. It isacceptable / un acceptable.(9) A bill shows: pay to the order of ABC Co. the sum of one thousandpounds plus in terest. It isacceptable /un acceptable.二、(1) A bill is payable at XX days after sight, what date is theday from which time

6、 of payme nt beg ins to run?The date of acceptanee(2) A billis payable at XX days after date, what date is the day fromwhich time of payme nt beg ins to run?The date of issu ing(3) The maturity of one month after 31 Jan. is28 Feb(4) The maturity of 180 days after 4 April is1 Oct(5) The maturity of 1

7、80 days from 6 Nov.1999 is3 May. 2000三、Fill in the followi ngbla nk forms to draw a billof excha nge. The billin cludes the requisite items as follows:(1) date: 22 May,200Xamou nt: GBP21,787.00ten or: at 90 days after sightdrawer: Chi na Nati onal Ani mal By products lmp.& Exp. Corp, Beiji ngBra

8、n ch, Beiji ngdrawee: Bank of Atla ntic, Londonpayee: the Order of China Nati onal Ani mal By product Imp.& Exp.Corp, Beiji ng Branch(2) date: 23 July,2000amou nt: USD 35,461.50tenor: on 31 Oct, 2000 fixeddarwer: George An ders on Inc, New Yorkdrawee: Irvi ng Trust Compa ny, New Yorkpayee: Brow

9、n and Thomas Inc. or orderdraw n aga inst shipme nt of cott on form Australia to St. Louis.EXCHANGE forGBP 21787.00Beiji ng ,22.May200XAt 90 days after sightpay this first bill ofexchange(Sec ond of same tenor and and date un paid) to the order of ChinaNati on al A ni mal By product lmp.& Exp Co

10、rp, Beiji ng Branch thesum ofSAY GBP TWENTY ONE THOUSAND SEVEN HUNDRED AND EIGHT SEVENONLY Draw nTo bank ofAtla ntic,L ondonFor China Nati onalAni mal ByProductsImp & Exp. CorpBeiji ngBranch ,Beiji ngXXXUSD 35,461.50New York ,23 JulyEXCHANGE for200XAt 31 Oct,2000 fixedpay this first bill of exch

11、a nge(Sec ond of same tenor and and date un paid) to the order ofBrown and Thomas Inc.or order the sum ofSAYUSDOLLARSTHIRTYFIVE THOUSANDFOURHUNDREDANDSIXTY ONEPOINTFIVE ONLYDrawn against shipment of cotton from Australia St. LouisTo Bank of Atlantic, For George An ders onInc.New YorkNew York四、Please

12、 answer, fill the blank in or made choice of the following question.XXXEXCHANGE for GBP 5,000.00Lon do n, 1 Apirl 200XAt 60 days after sight pay this firstbill of exchange(Sec ond of same tenor and and date un paid) to the order of Bankof Australiathe sum ofFIVE THOUSAND POUNDS ONLYTo The Import Co.

13、,For The Export Co.,Melbour neLondonSig nature(1) Prefer to the above bill, the holder i.e.Bank of Australia hasthe right transferring it to other person, or the right of presentmentfor acceptance and/orclaim for payment to The Import Co. Melbourne.If the latter refuses to pay, the holder has the ri

14、ght ofrecourseagai nst the Export ing Co. London(2) The payee 'London Office wishes to transfer the bill to Bank ofNew Zeala nd, Auckla nd, please make a restrictive en dorseme nt.Pay to Bank of New Zeala nd, Auckla nd onlyFor Bank of Australiasig nature(3) Please make a bla nk en dorseme nt.For

15、 Bank of Australiasig nature(4) Having made an en dorseme nt in bla nk, the holder send the bill toBank of New Zeala nd, Auckla nd who wishes to con vert this bla nk en dorseme nt in to a special en dorseme nt to themselves. Please makethis special en dorseme nt.Pay to the order of Bank of New Zeala

16、 nd, Auckla nd onlyFor Bank of Australia, LondonSig nature(5) If the condition is“on delivery of B/L No. 125” , please makea con diti onal en dorseme nt.Pay to Bank of Australia or order on delivery of B/L No. 125For Bank of Australia, LondonSig nature(6) If payee ' s London office wishes to sen

17、d the bill to their Melbourne office forcollecti on, please make an en dorseme nt for collecti on.Pay to the order of Bank of Australia Melbourne office onlyfor collecti onFor Bank of Australia, LondonSig nature(7) Refer to the above bill, a banker designated as payer is Bank of Melbourne, Melbourne

18、. Date of acceptanee is 10 April, 200X. Please make acceptance of such bill indicating its maturity.Accepted10 April, 200X9 June,200X Payable at Bank of Melbour ne, Melbo urne For the Importi ng Co.Sig nature五、Choose the best an swer to each of the followi ng questi onsCCCBCBBAExercise 2P1ease answe

19、r.fill the blank in or make choice of the followingquestions .1、There are four parties in aremitta nce.i.e.(1)remitter(2) payee(3) remitting bank and (4) paying bank2、Remittance through a bank from one country to another may usuallybe made by one of the following methods(1) Telegraphic Transfer(2) M

20、ail Transfer(3) Banker' sDema nd Draft3、Payment in advanee which is adopted in international trade isusually effected by remitta nee.a nd is adva ntageous to (x exporter/ importer).(2) Payment after arrival of goods which is adopted in internationaltrade is usually effected by remittanee too .an

21、dis advantageousto ( exporte r / x importer).(3) Payme nt after arrival of goods in clude two types of goods forsale. namely Goods SoldCon sig nment4、Financial documents meanbills of missorynotes.cheques .Commercial docume nts mea n_ in voices .tra nsportdocume nts.docume nts of title or

22、 other similar docume nts5、C1ean collection means collection of financial documents notaccompa nied bycommercial docume nts6、Documentary collection means collection of(1)F inan cialdocume nts accompa nied bycommercial docume nts .or(2)commercial docume nts not accompa nied byfinan cialdocume nts7、Ho

23、w many parties are there in a collection ?(1)Prin cipal(or seller)(2)Remitt ing Bank(3)Collectingbank(4) Drawee(or buyer)8、Terms of delivery of documents are as follows:(1)Delivery of docume nts aga inst_payme nt .its abbreviati onis D/P .Place and date of draft:Tianji n.8 May.200Xis D/A .9、 (1)The

24、remitting bank has maintained an account with the collectingban k.how do you write collect ing proceedsin structi ons in the collecti onin structi onWhe ncollected please credit our acco untwith you un der your cable/airmail advice to us(2)The Collect ing bank has maintained an acco unt with theremi

25、tti ng ban k.how do you write collect ing proceeds in structi ons inthe collecti on in structi on?Please collect the proceeds and authorize us by cable/airmaildebit your acco un twith us10、 Remitting bank : Bank of China.TianjinPaying bank : Bank of China.LuxemburgDate of cable : 9 JuneTest : 2563Re

26、f No . 208TT0219Amount : USD 1.660.00Payee : Marie Clauda Dumont.LuxemburgAccount No . 0164/7295 /550withBanque Intern ati onal du LuxemburgMessage : PayrollRemitter : Crystal Palace Hotel.TianjinCover : Debit our H.O. accountFM: BANK OFCHINA ,TIANJIN TO: BANK OFDATE :CHINA 丄UXEMBUR JUNE2563208TTTES

27、TOUR REF0219 NOT ANY CHARGES FOR USPAYUSD 1660.00TO BANQUE INTERNATIONAL DU LUXEMBURG FOR CREDITING ACCOUTNO.0-164/7295/550OFMARIE CLAUDADUMONT 丄UXEMBURGMESSAGEPAYROLLORDERCRYSTAL PALACEHOTEL ,TIANJINCOVERDEBIT OUR H.O.ACCOUNT11、MT100CUSTOMER TRANSFERDATE :031206SENT TO : BKCHCNBJ200:FM :BANK OF CHI

28、NA.TIANJIN04HSBCHK25264HONG KONG AND SHANGHAI BANKINGCORPORATION.HONGKONG : 20: TRN : TT-HKH315064BACP:32A : VALUE DATE /CUR CODE /AMTDATE : 031206 CURRENCY CODE : CNY AMDUNT : 6.859.58:50 : ORDERING CUSTOMER :ARTHUR ANDERSEN AND CO.:57s :“ ACOOUNT WITH ” BANK :BANK OF CHINA.TIANJIN BR. TIANJIN.CHIN

29、A:59 : BENEFICIARY CUSTOMERTIANJIN INTERNATIONAL TAXATION CONSULT1NG BUREAU :70 : DETAILS OF PAYMENT :PAYMENT TO RENT AND TAX FOR NOV . 2003:71A : DETAILS OF CHARGES : BENEFICIARY:72 : BANK TO BANK INFORMATION :IN COVER SETTLE THRU OUR CNY / AC 111 01081WITHYOUR BEIJING HEAD OFFICEIn accorda nee wit

30、h above SWIFTMessage Type 100 please write a cable text of remitta nee.DATE; 6TH DEC,2003TO:BANK OF CHINA, TIANJIN BR TIANJIN CHINAFM: HONGKONG AND SHANGHAI BANKINGCORPORATION,HONGKONG TION,HONGKONGOUR.REF: TT-HKH315064BACP VALUE DATE 6 DEC1998 CNY 6859.58ORDERING ARTHUR ANDERSEN AND CO.ACCOUNT WITH

31、 BANK BANK OFCHINA, TIANJIN BRANCH TIANJIN BENEFICIARY TIANJIN INTERNATIONALTAXATION CONSULTING, BUREAU DETAILS OF PAYMENT PAYMENT OFRENT AND TAX FOR NOV.1998 DETAILS OF CHARGES:BENEFICIARY IN COVER SETELE THRU OUR CNY A/C 111-01081WITH YOU BEIJING HEAD OFFIC12、Draft NO . 20060613Amount : HKD32.150.

32、00Paying bank ： Bank of China.HongKongPayee ： the order of United Trading Company.HongKongPay against this draft to the debit of our accountRemitting bank ： Bank of China.TianjinRemitter ：China-National Light Industrial Products Imp Exp Corp.Tianjin Branch.TianjinP1ease draw a demand draft to make r

33、emittance by D D .13 、 (1)China National Instruments Imp Exp Corp. TianjinBranch.Tianjin (principa1) wishes to issue a draft dated 14 Ju1y.200X drawn on Continental Co. , 46 Rue de Ancient.Paris (drawee) at sight for USDl.200.00 payable to the order of Bank of China.Tianjin(remittingbank) which will

34、 make a special endorsement to Banque ofParis .Paris.marked “ Drawn against shipment of 20 sets oftransistors shipped per s sChenghau from Tianjin to Le Harve forcollection. ”P1ease draw a draft to meet the above requirements(2)The principa1 presents an application for collection accompanied by draf

35、t and documents to the remitting bank for collectionAn application for collection shows as follows：Commercial documents surrendered are below：B L in triplicateInvoice in triplicateInsurance policy in duplicatecertificate of origin in duplicatepacking list induplicateCo11ection instructions are given

36、 below：deliver documents against paymentremit the proceeds by airmailairmail advice of payme ntcollectioncharges outsideChina from drawee.waive if refused by him .airmail advice of non-payme nt with reas onsprotest waivedWhen collected. please credit proceeds to principal' s account withremitt i

37、ng bankRemitt ing bank complete a collecti on in structi on in accorda nee with principal ' s application to add other requirements as follows:Ref . No. OC2576459Date : 15 July.200XPlease collect and remit proceeds to Bank of Chi na.NewYork forcredit of our acco unt with them un der their advice

38、 to us.Please produce a collecti onin structi onattach ingdraft anddocume nts to be forwarded to the collecti ngbank.Banque of Paris.Paris.(COLLECTION INSTRUCTION)Exercise 3Please answer.fill the blank in or make choice of the followingquestions .1、 Here is the simple definition of letter of credit:

39、In simple terms.a letter of credit is a conditionalbank promise/undertakingof payment .2、There exists a triangularcon tractualarra ngeme nt un der a docume ntary credit operati on(1) Firstly.the(2) Seco ndly.thesales con tractbetwee n ben eficiary and applica nt(3) Thirdly.thedocume ntarycreditbetwe

40、en issuing bank andapplicantbetwee n applica nt and issu ing bank.ben eficiary3、A credit stipulated that quantity of goods.grade A 60%.quantity ofgoods.grade B 40% . Ben eficiary prese nted in voices being evide need gradeA 40%.grade B 60% which were in accorda nee with sales con tract as he said th

41、at the credit has stipulated erron eously. The above in voice is acceptable.(2) The above in voice is not acceptable.4、How many parties are there in a documentary credit?(1) theissu ing bank(2 ) theapplica ntif any(3) theben eficiary5、 The advisingbank' s liability is to check the apparentauthen

42、ticityof the credit .6、All credit must stipulated an expiry date forpresentation forpayme nt .7、If the amount is preceded by “about ” ,“ approximately ” or “ circa ” ,the credit will allow the10%_tolera nee.8、 In the absenee of indicatingthe natureof a credit.it shall be deemedto be irrevocable9、 Un

43、der an irrevocable credit.the issuingbank must undertake primary liability for payme nt .10、What is the esse nee of an irrevocable docume ntary credit?Theesse nee of an irrevocable docume ntary credit is that “ anirrevocable credit can n either beamended nor can celled withoutthe agreeme nt of the i

44、ssu ing ban k.the confirming bank (if any)and the ben eficiary”.11、A credit should not be issued available by draft(s) on the applicant . If the credit nevertheless calls for draft on the applicant, banks willeon sider such draft(s) as anadditional documents12、 An issuing bank ' s undertaking cl

45、ause is as follows:We hereby undertake to pay at sight against draft and/ or documentsprese nted to our office in eon formity with terms of credit.Who un dertakes the primary liability?Issu ing bank13、A bank con firms a credit.it will usually write a clause as followsWe hereby add our con firmati on

46、 to thecredit and un dertake to honourdrafts and docume nts incon formity with the terms of the credit uponpresen tati onthemto us14、 A credit is issued by Bank of Chin a.Tianj in andcon firmed by Bank ofChina.London . It constitutes the payment undertaking of(1) 口 one bank only(2) above two banks .

47、15、Put X in relative check box of the following sentences or fill the blanksto issue an irrevocable uncon firmed docume ntary credit which is to expireon or before 30 June.200X and is available with the advising bank.theIn dustrial and Commercial Bank of China , Sha nghai by deferredpayment at30 day

48、s afterpresentation of documents against the documents .(1) In Irrevocable Docume ntary Credit Form(Advice for the advis ingbank)We request you to advice ben eficiary: without addi ng your con firmati on 口 add ing your con firmati on 口 add ing your con firmati on if requested by the ben eficiary.(2)

49、 In Notificati on of Irrevocable Docume ntary Credit Form This no tificati onand the en closed advice are sent to you withoutany en gageme nt on our part. 口 As requested by the issuing bank.we hereby add our confirmationto this credit in accorda nee with the stipulati ons un der UCP500.(3) In Irrevo

50、cable Documentary Credit Form(Advice for the beneficiary)Expiry date and place for prese ntati on of docume ntsexpiry date :30 June.200Xplace for prese ntati onShan ghaicredit available withthe In dustrial andCommercial Bank of China 口 by payme nt at sight by deferred payme nt at30 days after prese

51、ntati on of docume nts 口 by accepta nee of draft(s) at 口 by n egotiati onaga inst the docume nts detailed here in and ben eficiary's draft(s) draw n onthe In dustrial and Commercial Bank of Chi na16、Put X in relative check box of the follow ing sen ten ces or fill theblanks to issue an irrevocab

52、le credit which is to expire on or before 30Jun e.200X and is available withthe issu ing ban k.Dresd ner Bank, Hamburgby accepta nee of draft(s) at 90 days sight.In Irrevocable Docume ntary Credit Form (Advice for the ben eficiary)Expiry date and place for prese ntati on of docume ntsexpiry date :30

53、 Jun e.200Xplace for prese ntati on:Hamburgcredit available withHamburg 口 by payme nt at sight 口 by deferred payme nt at by accepta nee of draft(s) at90 days sight 口 by n egotiati onaga inst the docume nts detailed here in and beneficiary' s draft(s) drawn onDresdner Bank17、 An irrevocablenegoti

54、ation(with the advisingbank)documentary creditwill expire on 29 May.200Xat :口 (place of issuing bank)/(place of advising bank)/口(place of other bank)available with : name and place of /口 (issuing bark) / (advisingbank) /口 (other bank)by :口 (sight payment) /口 (deferredpayment at) /口(acceptanee ofdraf

55、t at)/n egotiati onaga inst the docume nts detailed here inand beneficiary's draft(s) drawn on name and place of/口 (issuingbank) / 口 (advis ing bank)18、A new transferable credit maybe opened at the request of thefirstbeneficiary by thetransferringbank in accordanee with all terms andconditions o

56、f original credit except that the applica nt may be cha nged by thefirst ben eficiary the credit amount and unit price maybereduced the shipment and expiry dates and latest date for presentation ofdocume nts maybeshorte ned the perce ntage of in sura nee cover maybein crease the origi nal tran sferable credit allows thefirst ben eficiarytosubstitute his in voice anddraft for those prese nted by thesec ond