《国际结算（双语）》试卷B及参考答案

InternationalSettlement试卷BIChoosetheBestAnswerforEachQuestion.(10%)Totheimporter,themostfavorablemethodofsettlementis（）.A.letterofcreditB.openaccountC.cashinadvanceD.collectionInternationalcashsettlementhasthefollowingdisadvantagesexcept（）.A.expensiveB.riskyC.safeD.time-consumingCHAPSistheelectronicclearingsystemfor（）.A.GBPB.USDC.CNYD.EURFromaChinesebank’spointofview,thecurrentaccountmaintainedbyaforeignbankwithhimisknownas（）.A.anostroaccountB.avostroaccountC.acurrentaccountD.aforeigncurrencyaccountDocumentarycreditbusinessissubjectto（）.A.UCP600B.URC522C.URDG758D.ISP98Thebillwhichmustbepresentedforacceptanceis（）.A.thebillpayableatxxdaysafterdateB.thebillpayablexxdaysaftersightC.thebillpayableonafixeddateD.thebillpayableatsightItwillbemoreconvenientifthecollectingbankappointedbytheseller（）.A.isalargebankB.istheremittingbank’scorrespondentintheplaceoftheimporterC.isintheexporter’scountryD.actsontheimporter’sinstructionsUnderD/A,thedocumentswillnotbedeliveredtothebuyeruntil（）.A.thegoodshavearrivedB.thedocumentshavearrivedC.thedocumentsarepresentedtothebuyerD.thebillisacceptedbythebuyerOfthefollowingkindsofL/C,（）istheL/Cwhichrequiresnodraftsatall.A.sightpaymentcreditB.deferredpaymentcreditC.acceptancecreditD.negotiationcreditUnderletterofcredit,theprimarydebtoristhe(）.A.applicantB.importerC.issuingbankD.nominatedbankIITrueorFalse.（10%）Theactwhichisneverinvolvedinpromissorynotebusinessisacceptance。Theacceptorofabillisthepersonwhooriginallynamedasthedraweeofthebill.T/Tisnotamethodofremittance.Openaccountasapaymentmethodisusuallyusedwhengoodsaresoldunderthebuyer’smarketcondition.Itwillbemoreconvenientifthecollectingbankappointedbytheselleristheremittingbank’scorrespondentintheplaceoftheimporter.UnderD/P,thedocumentswillnotbedeliveredtothebuyeruntilthegoodshavearrived.Abillofexchangewhichisaccompaniedbyshippingdocumentsisknownasacleanbill.Indocumentarycollection,afterthegoodshavebeenshipped,theexporterpresentsthedocumentstothecollectingbankforcollection.Incollectionbusiness,thedrawerofthedraftforcollectionisthebuyer.Incollectionbusiness,thedraweeofthedraftforcollectionisthebuyer.IIIExplainthefollowingconcepts.(18%)SWIFTURC522InternationalfactoringpresentstandbyL/CchequeIVAnswerthefollowingquestions(20%)Whatarethepotentialactsrelatedtothedraft(orwhatarethepotentialstepsforthecirculationofthedraft?)DescribethegeneralprocedureofT/Twithafigureorgraph.Besides,someadditionalexplanationforthefigure/graphisnecessary.VCaseStudy(20%)Whatisforeignexchangerisk?Pleaselistthemethods(atleastsixkinds)toavoidtheforeignexchangerisks.AnexportcompanyinChinausedtoexportreddatestoBrazil.TheL/CestablishedbythebankinBrazildescribesthegoodsas“Grade2Soybeans”.Atthemoment,“Grade2Soybeans”wereoutofstock.Theexporterdecidedtoship“Grade1”insteadof“Grade2”tomeetthedemandofthemarket.Ontheinvoicemarked“Grade1Soybeans,priceasperGrade2”.Thebeneficiaryhadthoughtthattheimporterwouldnotshowanyobjectionaboutthis.Sodidthenegotiatingbank.However,onthecontrary,boththeopeningbankandtheimporterrefusedtomakethepayment.Whatwasmore,theimporterevendemandedcompensationforthelosscausedbytheexporter’sfailuretoshipaccordingtotheagreedspecification.Whatcanwelearnfromthiscase?ⅥPractice(22%)ReadthefollowingL/CandanswerthefollowingquestionsWhatarethecharacteristicsofthiscredit?(atleastfour)(4%)Listthenameofthefollowingarties:openingbank,advisingbank,beneficiary,applicant.(2%)Whatarethedateoftheissuance,expirydate,timeofshipmentandthetimeforthepresentationofthedocuments?(4%)Listthegeneralinformationontheshipment.(4%)Whatkindofdocumentsarerequiredunderthiscreditandhowmuchofthemarerequiredrespectively?(4%)SupposetheexporterdeliveredallthegoodsonboardthevesselonAug.10th.,then:(a)Whenshouldtheexporterissuedtheinvoice;(b)Whenshouldtheexporterclearthegoodsforexport?(c)Whenshouldtheexporterdrawthedraft;(d)Whenshouldtheexporterpresentthedocumentstothenegotiatingbankfornegotiation?(4%)SampleLetterofCreditIssueofaDocumentaryCreditBKCHCNBJA08ESESSION:000ISN:000000EBBANK,VIETNAMDestinationBank:BANKOFCHINATAIZHOUBRANCHTypeofDocumentaryCreditIRREVOCABLELetterofCreditNumberLC06E0081/17DateofIssue060628DateandPlaceofExpiry31D060930VIETNAMApplicant:MINEXPORTSAIGON35-37BENCHUONGDUONGST.,DIST.1HOCHIMINHCITY,VIETNAMBeneficiary:/1207047109045731923TAIZHOUJIADELIDOORMACHINECO.,LTD,NO.188,NORTHERNDAXIROAD,DAXITOWN,WENLINGCITY,ZHEJIANGPROVINCE,CHINACurrencycode,amount:USD7380.00AvailableWithBy:ANYBANKINCHINABYNEGOTIATIONDraftsat:SIGHTFOR100POTOFINVOICEvalueDrawee:EBBANKVIETNAMEXPORTIMPORTCOMMERCIALJOMOCHIMINHCITY,VIETNAMPartialShipments:NOTALLOWEDTransshipment:ALLOWEDLoadingonBoard/Dispatch/TakinginChargeat/Form:ANYCHINESEPORTLatestDateofshipment：060820DescriptionofGoodsand/orservices:1.NAMEOFGOODS:ELECTRICROLLINGDOORMACHINE(FULLSET);2.QUANTITY:100SETS;3.UNITPRICE:USD73.80/SETCIFTANCANG,HOCHINHCITY,VIETNAM(INCOTERMS2000);4.AMOUNT:USD7,380.00;5.ORIGIN:MADEINCHINA;6.QUALITY:BRANDNEWANDINGOODWORKINGCONDITION;7.PACKING:EACHSETISPACKEDINTOONECARTONBOX;8.MARKINGIENANH,VIETNAMDocumentsRequired:THEFOLLOWINGDOCUMENTSINENGLISH:1.SIGNEDCOMMERCIALINVOICEIN03ORIGINALSAND01PHOTOCOPY2.FULLSET(3/3)ORIGINALSAND01PHOTOSHOPOFSIGNEDCLEANSHIPPEDONBOARDOCEANBILLLOFLADINGMADEOUTTOORDEROFVIETNAMEXIMBANKMARKEDFREIGHTPREPAIDANDNOTIFYTHEAPPLICANT,ADDRESSANDTELEPHONENBROFSHIPPINGAGENTINHOCHIMINHCITYANDL/CNBRMUSTBEINDICATEDINB/L3.CERTIFCATEDOFQUANTITYANDQUALITYISSUEDBYTHESELLERIN02ORIGINALS(FULLNAMEOFGOODSSTATED)4.CERTIFICATEDOFORIGINISSUEDBYCHINACHAMEROFCOMMERCEONORBEFOREBILLOFLADINGDATEIN01ORIGINAND02COPIES5.SIGNEDDETAILEDPACKINGLISTIN03ORIGINALSAND01PHOTOCOPY.6.COPYOFFAXADVISINGAPPLICANTDATED,VESSELNAME,QUANTITYOFGOODS,PACKINGDETAILS,CONTRACTNO,NAMEOFCOMMODITY.INVvalue,L/CNBR,LOADINGPORT,ETAHOCHINMINHCITYPORT.7.INSURANCECOVEREDBYSELLERINSURANCEPOLICY/CERTIFICATEIN02ORIGINALSCOVERINGALLRISKSFOR110POTOFINVOICEvalueBLANKENDORSEDINDICATIONSCLAIMPAYBLEBYBAOVIETINHOCHIMINHCITY,VIETNAM.ChargeALLBANKINGCHARGESOUTSIDEVIETNAMINCLUDINGADVISING,NEGOTIATING,REIMBURSINGCOMMISIONNAMENDMENTCHARGESATBEN’SACC.ADVISING/AMENDMENTCHARGESTOBECOLLECTEDBEFORERELEASEOFL/C/AMENDMENTPeriodforpresentation：DOCUMENTSMUSTBEPRESENTEDWITHIN21DAYSAFTERSHIPMENTDATEConfirmationinstructionsWITHOUTInstructionstothepaying/accepting/……InternationalSettlement试卷B参考答案及评分标准IChoosetheBestAnswerforEachQuestion.(10%)1-5BBABA6-10BBDBC——每题1分IITrueorFalse.（10%）11-15TTTTT16-20FFFFF——每题1分IIIExplainthefollowingconcepts.(18%)SWIFTAnswer:ThefullnameofSWIFTisSocietyforWorldwideInterbankFinancialTelecommunication.Itisanon-profitandcooperativeorganizationwhichwasestablishedinBrusselsin1973.Itstartedtoestablishcommonstandardsforfinancialtransactionsandashareddataprocessingsystemandworldwidecommunicationsnetwork.Fundamentaloperatingprocedures,rulesforliability,etc.-3分URC522Answer:Astothecollection,InternationalChamberofCommerce(ICC)hasenactedtherelevantcustoms:UniformRulesforCollection(URCinshort).Nowadays,thelatesteditionwhichwasrevisedin1995.Becauseitwasjustthe522ndpublicationoftheICC,itisnamedURC522inshort.-3分InternationalfactoringAnswer:InternationalFactoring,alsoknownastheacquisitionofaccountsreceivable,referstothatexporterssellgoodsintheformofcommercialcreditandthenreceiveallorpartofloanbysellinginvoices,billsofexchange,billsofladingandotherrelevantdocumentstofactoringorganizationsorspecializedfinancialcompaniesimmediatelyaftershipment,soastoobtainfinancialservices.Itisaformofshort-termcreditforforeigntrade.-3分PresentAnswer:Topresentmeansthattheholdershouldpresentthenegotiableinstrumenttothepayeronitsmaturitywhenhewantsittobepaid.Otherwise,thepayermayneglectit.Forexample,thesightdraftshouldbepresentedwithinonemonthtothepayerforpaymentaccordingtoNegotiableInstrumentLawofChina.-3分standbyL/CAnswer:StandbyL/C,alsoknownastheguaranteeL/C,referstothekindofcreditthatdoesnotpaythepriceofgoodsbutaimsatloanfinancing,orguaranteeingdebtrepayment.-3分chequeAnswer:Acheckisaunconditionalorderinwritingdrawnonabanksignedbythedrawer，requiringthebanktopayondemandasumcertaininmoneytoortheOderofaspecifiedpersonortobearer.)-3分IVAnswerthefollowingquestions(20%)27.Answer:Todraw；(2)Topresent;(3)Topay;(4)Toaccept;(5)Todishonor;(6)Toendorse;(7)Torecourse;(8)Todiscount答对6个或6个以上给10分，少于6个时每少1个扣2分，最多扣8分；不答不得分28.Answer:(1)TheremitterfillsintheM/Tapplicationform(SeeAppendixII),,presentstheproceedsandpaythecommissionforremittancetotheremittingbank;(2)Uponreceipttheapplicationform,theproceedsandthecommission,theremittingbankoffersareceipttotheremitter;(3)Theremittingbanksendsapaymentorderoradvicetothepayingbankbycableortelegraph,entrustingthelattertopaytothepayeeorbeneficiary;(4)UponreceiptthePOandauthenticatingthesignature,thepayingbanknotifiesthepayeeinthePO;(5)Thepayeeissuesareceipttothepayingbank;(6)Thepayingbankmakespaymenttothepayee;(7)Thepayingbanksendsthedebitadviceandthepaymentreceiptfromthepayeetotheremittingbank.——5分RemitterRemitterContractPayeePayingBankbbanBankbank汇入行RemittingBank汇出行（1）（3）（6）（7）（5）（4）（2）Figure3.1GeneralProceduresforT/T——5分VCaseStudy(20%)Answer:Foreignexchangerisk-alsocalledFXrisk,currencyrisk,orexchangeraterisk-isthefinancialriskofaninvestment'svaluechangingduetothechangesincurrencyexchangerates.Thisalsoreferstotheriskaninvestorfaceswhenheneedstocloseoutalongorshortpositioninaforeigncurrencyataloss,duetoanadversemovementinexchangerates.——4分（2）Howcanafirmminimizeitoravoidit?-bartertrade-spotExchangeTransactions-forwardExchangeTransactions-hedging-option-foreignexchangefuturestransaction-topayorcollectbylocalcurrency-parallelloans-swaptransaction-leadsandlags-earlywarningofforeignexchange——6分，答对6个或6个以上得6分，少于6个时，每少1个扣1分，最多扣6分Answer:(1)AccordingtoUCP600,theopeningbankwillpayonlywhenthedocumentspresentedbythebeneficiarycomplywiththeL/C,hewillmakepayment.However,inthiscase,thesellerhasdeliveredsomegoodsofGrade1insteadofGradeI,eventhoughthequalityofGrade1isbetterthanGrade2,however,theinvoiceshowsthat“Grade1Soybeans,priceasperGrade2”.Itisof“nonconformitybetweendocumentsandtermsofthecredit”.Sotheopeningbankcanrefusetomakepayment.Sodoesthebuyer.——5分Fromthiscase,thesellermaylearnsomelessonsfromitsuchas：first,todeliverthegoodsstrictlyaccordingtotheL/C;second,ifthesellercannotdeliverthegoodsaccordingtotheL/C,hecanonlybeallowedtodeliverthegoodswhentheL/Chasbeenrevisedbytheapplicant(theimporter).——5分ⅥPractice(22%)Answer:Whatarethecharacteristicsofthiscredit?(atleastfour)(4%)Answer:SWIFT;documentary;negotiation;sight;non-confirmed——答对4个或4个以上得4分，少于4个时每少1个扣1分，不答不得分Listthenameofthefollowingarties:openingbank,advisingbank,beneficiary,applicant.(2%)Answer:openingbank:EBBANKadvisingbank:BANKofChina,TaizhouBranchbeneficiary:TAIZHOUJIADELIDOORMACHINECO.,LTD.applicant:MINEXPORTSAIGON每个0.5分Whatarethedatesoftheissuance,expirydate,timeof