金融学 one to five.ppt

1、1,Chapter One Introduction to International Payments and Settlements （国际支付与结算概述）,1.1 Trade Terms Trade terms are also called”price terms”or “delivery terms”. Incoterms are sets of uniform rules codifying the interpretation of trade terms defining the rights and obligations of the buyer and seller in

2、 international transactions. 贸易术语由单价金额、符号、地点组成，如 USD20.00per set FOB Tianjin.,金融系 刘玲,“Incoterms 2000” includes the following 13 terms.,2,1.1.1 Two Critical Points(两个临界点）,1.1.1.1 Critical Point for Delivery/ Critical Point for Risk(交货临界点/风险临界点） 货物运到这个临界点，从法律观念上可以认为卖方已经尽到交货责任，将货物交于买方，故在这个临界点以前货物遇到风险发生

3、损失由卖方承担责任，在这个临界点以后货物遇到风险发生损失由买方承担责任。 1.1.1.2 Critical Point for Cost(费用临界点） 在这个临界点以前发生的运费（有时加保险费）由卖方负担，在这个临界点以后发生的运费（有时加保险费）由买方负担。,金融系 刘玲,3,1.1.2.1 Ex Works(Named Place)(EXW)工厂交货（指定目的地）,Ex Works(EXW) means that the seller fulfills his obligation to deliver when he has made the goods available to the

4、 buyer at his premises or another named place(i.e., works,factory,warehouse,etc.) not cleared for export and not loaded on any collecting vehicle. Title and risk pass to the buyer including payment of all transportation and insurance costs from the sellers door.,金融系 刘玲,This term thus represents the

5、minimum obligation for the seller.,1.1.2 Detailed interpretation of “Incoterms 2000”,4,1.1.2.2 Free Carrier(Named Place)(FCA)货交承运人（指定地点）,Title and risk pass to the buyer including transportation and insurance costs when the seller delivers goods cleared for export to the carrier nominated by the buy

6、er at the named place. It should be noted that the chosen place of delivery has an impact on the obligations of loading and unloading the goods at that place. If delivery occurs at the sellers premises, the seller is responsible for loading. If delivery is at any other place, the seller is not respo

7、nsible for unloading.,金融系 刘玲,5,1.1.2.3 Free Alongside Ship(Named Port of Shipment)(FAS)船边交货（指定装运港）,Title and risk pass to the buyer including payment of all transportation and insurance cost when the goods are placed alongside the vessel at the named port of shipment by the seller. The export cleara

8、nce obligation rests with the seller.,金融系 刘玲,6,1.1.2.4 Free on Board(Named Port of Shipment)(FOB)船上交货（指定装运港）,Title and risk pass to the buyer including payment of all transportation and insurance cost when the goods pass the ships rail at the named port of shipment. This means that the buyer has to

9、bear all costs and risks of loss or damage to the goods from that point.,金融系 刘玲,7,1.1.2.5 Cost and Freight(Named Port of Destination)(CFR)成本加运费（指定目的港）,The seller delivers when the goods pass the ships rail in the port of shipment. The seller must pay the costs and freight necessary to bring the good

10、s to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time of delivery, are transferred from the seller to the buyer.,金融系 刘玲,8,1.1.2.6 Cost, Insurance and Freight(Named Port of Destination)(CIF)成本加运保费（指定目的

11、港）,The seller delivers when the goods pass the ships rail in the port of shipment. The seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the

12、 time of delivery, are transferred from the seller to the buyer. However, in CIF the seller has also to procure marine insurance against the buyers risk of loss or damage to the goods during the carriage. The seller also should contract for insurance and pay the insurance premium.,金融系 刘玲,9,1.1.2.7 C

13、arriage Paid to(Named Port of Destination)(CPT)运费付至（指定目的港）,Title, risk and insurance cost pass to buyer when the seller delivers the goods to the carrier nominated by him and pays transportation cost to the named destination.,金融系 刘玲,10,1.1.2.8 Carriage and Insurance Paid to(Named Port of Destination

14、)(CIP)运保费付至（指定目的港）,Title, risk and insurance cost pass to buyer when the seller delivers the goods to the carrier nominated by him but the seller must pay the cost of carriage necessary to bring the goods to the named destination. The buyer must bear all risks and any additional costs occurring afte

15、r the goods have been delivered. The seller also has to procure insurance against the buyers risk of loss or damage to the goods during the carriage.,金融系 刘玲,11,1.1.2.9 Delivered at Frontier(Named Place)(DAF)边境交货（指定地点）,Title, risk and responsibility for import clearance pass to buyer when goods are p

16、laced at the disposal of the buyer on the arriving means of transport not unloaded, cleared for export, but not cleared for import at the named point and place at the frontier, but before the customs border of the adjoining country.(当卖方在边境的指定的地点和具体交货点，在毗邻国家海关边界前，将仍处于交货的运输工具上尚未卸下的货物交给买方处置，办妥货物出口清关手续但

17、尚未办理进口清关手续时，即完成交货。） It is of vital importance that the frontier in question be defined precisely by always naming the point and place in the term.（用指定地点和具体交货点来准确界定所指边境，这是极为重要的。）,金融系 刘玲,12,1.1.2.10 Delivered EX Ship(Named Port of Destination)(DES)船上交货（指定目的港）,Title, risk and responsibility for vessel

18、discharge and import clearance pass to buyer when the goods are placed at the disposal of the buyer on board the ship not cleared for import at the named port of destination.（在指定的目的港，货物在船上交给买方处置，但不办理货物进口清关手续，卖方即完成交货。） The seller has to bear all the costs and risks involved in bringing the goods to t

19、he named port of destination before discharging.,金融系 刘玲,13,1.1.2.11 Delivered EX Quay(Named Port of Destination)(DEQ)码头交货（指定目的港）,Title and risk pass to buyer when goods are placed at the disposal of the buyer not cleared for import on the quay(wharf) at the named port of destination. The seller has

20、to bear costs and risks involved in bringing the goods to the named port of destination and discharging the goods on the quay(wharf). （卖方在指定的目的港码头将货物交给买方处置，但不办理进口清关手续，即完成交货。卖方应承担将货物运至指定目的港并卸至码头的一切风险和费用。） This term requires the buyer to clear the goods for import and to pay for all formalities, dutie

21、s, taxes and other charges upon import.（该术语要求买方办理进口清关手续并在进口时支付一切办理海关手续的费用、关税、税款和其他费用。）,金融系 刘玲,14,1.1.2.12 Delivered Duty Unpaid(Named Place of Destination)(DDU)未完税交货（指定目的港）,The term means that the seller delivers the goods to the buyer, not cleared for import, and not unloaded from any arriving mean

22、s of transport at the named place of destination. The seller has to bear the costs and risks involved in bringing the goods , other than, any “duty”(which term includes the responsibility for the risks of the carrying out of customs formalities, and payment of formalities, customs duties, taxes and

23、other charges) for import in the country of destination.Such “duty” has to be borne by the buyer as well as any costs and risks caused by failure to clear the goods for import in time. （卖方在指定的目的地将货物交给买方，但不办理进口清关手续，也不从交货的运输工具上将货物卸下，即完成交货。卖方应承担将货物运至指定目的地的一切风险和费用 ，不包括在需要办理海关手续时在目的国进口应缴纳的任何“税费”（包括办理海关手续

24、的责任和风险，以及缴纳手续费、关税、税款和其他费用。）买方必须承担此项“税费”和因其未能及时办理货物进口清关手续而引起的费用和风险。）,金融系 刘玲,15,1.1.2.13 Delivered Duty Paid (Named Place of Destination)(DDP)完税后交货（指定目的港）,The term means that the seller delivers goods to the buyer, cleared for import, and not unloaded from any arriving means of transport at the named

25、place of destination. The seller has to bear the costs and risks involved in bringing the goods including, any “duty”(which term includes the responsibility for the risks of the carrying out of customs formalities and payment of formalities, customs duties, taxes and other charges) for import in the

26、 country of destination.,金融系 刘玲,DDP represents the maximum obligation for the seller.,16,1.1.3 Summarizing of “Incoterms 2000” :,贸易术语编排方式,金融系 刘玲,17,Group E expresses departure from sellers premises. E字组表示离开卖方厂房起运货物，它属于买方国内销售条件。 Group F expresses main carriage unpaid by the seller. F字组表示主要运费卖方未付，要求卖方

27、向买方指定的承运人交货。卖方承担装货风险及费用的程度，要在销货合约中明确规定， F字组贸易术语属于装运或发货合约范畴。 Group C expresses main carriage paid by the seller. C字组表示主要运费卖方已付，由卖方负责向承运人签订运输合同支付运费。但卖方对发生于装船和发运后货物的灭失或损坏的风险或其他费用不负责任。故C字组贸易术语包含的Critical Point for Risk和Critical Point for Cost是在两个不同的点上。 C字组还表示在装运或发货合同中，卖方承担卸货风险及费用的程度，要在销货合约中明确规定。 Group D

28、 expresses arrival of the goods. D字组表示货物到达合约，由卖方承担所有的为把货物运至目的国所需 的费用和风险。,金融系 刘玲,18,1.2 Definition of International Payments and Settlements （国际支付与结算的定义）,1.2.1 The general implication of international payments and settlements International payments and settlements are financial activities conducted a

29、mong different countries in which payments are effected or funds are transferred from one country to another in order to settle accounts, debts, claims, etc.,emerged in the course of political, economic or cultural contacts among them. 国际支付与结算是各国之间进行的金融活动，它涉及一个国家向另一个国家支付款项或转移资金以清算各国在政治、经济、文化往来过程中所产生

30、的账户和债权、债务。,金融系 刘玲,19,1.3.2 Settlement on commercial credit (基于商业信用的结算）,1、Payment in advance 2、Open account 3、Remittance 4、Collection,金融系 刘玲,20,1.3.3 Settlement on bank credit,1、Letter of credit 2、Bank guarantee,金融系 刘玲,21,国际贸易中的 “ 游戏规则 ”：与国际贸易结算有关的法律和国际惯例,（一）本课程涉及的法律文件主要是有关的票据法，包括： 1.中国票据法（1995年）； 2.

31、英国票据法（1882年）; 3.日内瓦统一票据法（1930年、1931年）等。,金融系 刘玲,22,（二）本课程涉及的国际惯例主要包括：（按年排列） 1国际保理惯例规则（1991） 2见索即付保函统一规则（1992）（ URDG 458 ） 3跟单信用证统一规则（ 1993） （UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDIT， UCP 600） 4托收统一规则 （1995） （THE UNIFORM RULES FOR COLLECTION， URC522） 5国际贸易术语解释（1999） （INTERNATIONALRULESFORTH

32、EINTERPRETATION OF TRADE TERMS， INCOTERMS 2000.）,金融系 刘玲,23,1.5 Correspondent Banking Relationship,The so-called correspondent bank may be defined as “ a bank having direct connection or friendly service relations with another bank.” 所谓代理行可以定义为“与另一家银行有着直接的或友好的服务关系的一家银行 ”。,金融系 刘玲,24,1.5.1 Control docu

33、ments,Lists of specimen of authorized signatures,金融系 刘玲,列示银行各级有权代表银行或各自部门签署文件的授权人员的签字示样的文件。按等级划分，有的经过单签可以生效，有的则需要经过双签才能生效。代理行之间往来的书面文件均须由收件行将文件上的签字与预留授权签字样本核对无误后方能确定其真实性。,25,Telegraphic test keys,金融系 刘玲,以电报、电传等方式传递的电讯文件无法用授权签字验定真伪，发电行会按照事先约定的编码方法编制密押，由收电行用同样的方法破译并以破译所得信息与文件字面信息相吻合来确定电讯文件的真实性。密押的编制方法

34、在每个银行都属于绝对机密，只有极少数可靠的人员才能接触到密押。密押没有固定的编制方式，但其基本原理是不变的，即将电讯文件中有关日期、金额、币种等中要信息及其他有关项目按某种方式折算成一项数字而得，为了保证使用的安全。,26,Terms and conditions 费率表是银行承办各种代理业务的收费标准。代理双方换费率表，以便让对方了解收费标准。如果双方关系良好，也可以考虑互相给予优惠。在大多数情况下，这些费用可以最终转嫁到客户头上去。 SWIFT authentic key,金融系 刘玲,27,1.5.2 Inter-bank accounts,Nostro and Vostro accou

35、nt Nostro account（往账） is the foreign currency account (due from account) of a major bank with the foreign banks abroad to facilitate international payments and settlements. Vostro account （来账）is an account (due to account) held by a bank on behalf of a correspondent bank.,金融系 刘玲,28,代理行之间可能开立存款账户，这类账

36、户通常是活期存款账户，又称往来账户。本国银行在外国银行开立的往来账户，在本国银行看来，称为“往账”，通常是用外国货币开立的，以便直接对外支付。比如，中国银行在花旗银行开立了美元账户，便是开立了往账。外国银行在本国银行开立的往来账户，在本国银行看来，称为“来账”，通常是用本国货币开立的，以便在当地直接支付。但来账也可以用外国货币开立，如大通银行在中国银行开立美元账户。本国银行的往账，就是外国银行的来账。,金融系 刘玲,29,金融系 刘玲,30,帐户设置,大多数代理行之间并不设置帐户，如有资金往来， 可通过各自的帐户行划帐。因此，代理双方应在协议中注明某种货币的帐户行及帐号。这样，一方银行如有该种

37、货币的收入，可以要求对方将资金划入指定帐户行；如有支出，可以要求对方向指定银行索偿，从而实现双方间的资金转移。,金融系 刘玲,31,有些代理行之间会开设帐户，包括用于经常性资金收付的往来帐户、投资帐户及其它特定用途的帐户（如信用卡帐户、债券发行帐户等）。开设帐户的代理行称为帐户行，在一家银行的海外代理行中处于中心地位。 首先，这是因为一家银行虽然在同一东道国里有多家代理行，但往往只在一家银行开立帐户。其次，因为该帐户行设在东道国的金融中心或货币清算中心城市，因此帐户行在全体中拥有特殊的地位。银行如果不在东道国的金融中心开设分行，就必定会确定一家帐户行，从而便利清算。之所以只在一家代理行中开设帐

38、户，这既是为了防止外汇资金的分散，便于集中利用，也是为了防止外汇资金的闲置积压，从而增加帐户的效益。因为很多国家或银行对帐户中资金的最低限额有所规定，如果帐户较多，就会有大批外汇以铺底资金的形式被闲置，有损于资金的使用效益。 如果双方银行商定开立帐户，可以由一方银行在对方开立对方货币帐户，也可以由双方同时在对方银行开立对方货币帐户。具体情况由双方参考各自的帐户情况决定。,金融系 刘玲,32,A payment system is the means whereby cash value is transferred between a payers bank account and a pay

39、ees account. It includes: 1) policies and procedures, including rules for crediting and debiting balance; 2) a medium for storing and transmitting payment information; 3) financial intermediaries for organizing information flow, carrying out value transfer instructions, and generally administering p

40、ayment activities.,Definition of payment system,33,Clearing principles,34,补充内容：国际标准化货币符号及其应用 ISO-4217三字符货币代码具有严密的科学性和操作上的简易性。这套代码的前两个字符代表该种货币所属的国家和地区，它采用的是ISO-3166国家名称代码，在此基础上，再加一个字符表示货币单位。为计算机的数据处理和通讯创造了有利条件，也为国际结算业务经办人员迅速识别和记忆货币创造了条件。另外，这套代码还使用在合同文本、信用证、各类授权书、代理行协议、有价证券、财务凭证、各类单据和财务报表上。,35,常用国家和地区

41、的货币名称符号代码表,人民币元，,CNY,美元，,USD,港元，,HKD,英镑，,GBP,日元，,JPY,加拿大元，,CAD,澳大利亚元，AUD；新西兰元，NZD；新加坡元，SGD；,欧元，,EUR,36,2.1 Negotiable Instruments（流通票据）,A negotiable instrument is a chose in action, the full and legal title to which is transferable by delivery of the instrument (possibly with the transferors endorse

42、ment) with the result that complete ownership of the instrument and all the property it represents passes freely from equities to the transferee, providing the latter takes the instrument in good faith and for value.（流通票据是一种法定财产，这种财产的全部或法定的权益可以通过交付进行转让（可以凭转让方的背书），其转让的结果是只要受让人是正当取得或支付对价而取得该财产，该票据的全部所

43、有权及其所代表的财产权益将转移给受让人。）,金融系 刘玲,37,票据流通的形式 广义的票据采用三种方式转让流通： 1、过户转让/通知转让（Assignment） 做出转让书，登记过户或书面通知债务人； 受让人获得的权利要受到转让人权利缺陷的影响； 共有三个当事人，即转让人、受让人、原债务人。 （适用于股票、人寿保险单、政府证券、债券等）,（出口商） A B（进口商） C（受让人） 出口商A的货物不合要求，即，A对于该票据权利不完全，相应地，受让人C对于该票据的权利也不完全。,合同,金融系 刘玲,38,2、交付转让（Transfer） 通过单纯交付或背书交付，无需告知票据债务人； 受让人获得的权

44、利要受到转让人权利缺陷的影响； 当事人是：转让人和受让人。 （适用于提单、仓单、划线支票、即期银行汇票等） 3、流通转让（Negotiation） 通过单纯交付或背书交付，无需告知票据债务人； 当事人是：转让人和受让人。 （适用于汇票、本票、支票、大额定期存单、不记名债券等）,金融系 刘玲,39,受让人获得的权利不受转让人权利缺陷的影响；,（持有人/付款人）A B（非法持有者） C（受让人） B的票据系偷盗得来，因此他对于票据的权利是 非法的，即不完全的，但C并不受其影响。,偷窃,金融系 刘玲,40,2.1.2 Parties to a negotiable instrument,1、Draw

45、er（出票人） 2、Drawee（受票人） 3、Payee（受款人） 4、Acceptor（承兑人） 5、Endorser（背书人） 6、Endorsee（被背书人） 7、Acceptor for honor（参加承兑人） 8、Guarantor（担保人） 9、Holder（持票人）,金融系 刘玲,41,10、Holder for value（付对价持票人） 11、Holder in due course（正当持票人）,金融系 刘玲,The person who is in possession of an instrument that is complete and regular on

46、its face;(2) taken before maturity without notice of its previous dishonor;(3)taken in good faith and for value;(4)taken without notice of any infirmity in the instrument or defect in the title of the person negotiating it. He is also called a bona fide holder, who may claim payment from all parties

47、 liable on the instrument. 即票据的合法持有人，拥有完整的票据权利。 一个正当持票人必须同时具备以下条件：（1）他是善意的取得票据；（2）所持票据是完整而合格的；（3）在他成为持票人时票据没有过期；（4）如果票据曾遭退票，他不知悉。,42,付对价持票人：持有已经付过对价的票据持有人。 指本人未付对价，而是由其前手支付对价，如馈赠或遗产。在这种情况下，受让人的票据权利通常不会优于前手。也可以是本人支付对价，如果他对票据握有留置权。 对价：可以支持一项简单交易（合约）之物，如货物、劳务、金钱等。 只要曾有人为该票据付过对价，该票据的持有人即取得付对价持票人的身份，而不管其

48、本人是否付过对价。 善意持票人（BONA FIDE HOLDER） 指本人支付对价，且取得票据时没有发现该票据曾被退票，也不知前手有任何权利缺陷。所以英国票据法认为善意持票人对票据拥有完全的权利，并且不受其前手的权利缺陷的影响。,金融系 刘玲,43,Tenor/Time of Payment 付款期限/时间，又以下三种： （1）即期付款汇票（Bills Payable(at sight)/(on demand)/(Pay to).又称即期汇票（Sight/Demand Bill)。若汇票没有明确表示付款期限者，即为见票即付的汇票。 （2）定期付款汇票，或在可以确定的将来时间付款汇票（Bills

49、 payable at a determinable future time.),俗称远期汇票。 远期汇票的种类： A.Bills payable at days/ month(s) after sight 见票后若干天/月付款汇票; B. Bills payable at days/ month(s) after date 出票日后若干天/月付款汇票; C. Bills payable at days/ month(s) after B/L date /shipment date/stated date 提单日期/装运日期/说明日期后若干天/月付款汇票;,金融系 刘玲,44,到期日算法： A

50、.At days after sight /date/stated date （见票/出票日/说明日后若干天付款）的到期日算法是“算尾不算头，若干天的最后一天是到期日，如遇假日顺延。” 例如：“At 90 days after sight见票后90天，见票日为4月15日，,金融系 刘玲,则到期日是7月14日”。,B. At 90 days from 15 April 从4月15日起90天，“从”意指包括所述日期。,则到期日也是7月13日/14日。,两者相比较，到期日相差1天（如果B情况按算头算尾的算法）， “从”字包括所述日期计算到期日是有缺陷的。因此在票据付款时间上最好少用或不用“from”

51、。按照审单国际标准银行实务ISBP在45d段说到UCP第47条规定from 和after 的日期术语仅是用于装运时期，现在明确“from 用于确定票据到期日时，它不包括所述日期，除非信用证特别规定from包括所述日期”。这样使用from 和after 术语计算到期日就得到相同的日期。,45,C.At month(s) after sight /date/stated date （见票/出票日/说明日后若干月付款）的到期日算法是“应该付款之月的相应日起，如果没有相应日起，则以该月最后一日为到期日。” 例如：“At 2 months after 31 Dec.(12月31日以后2个月)的到期日为,

52、金融系Slide 11 刘玲,2月28/29日。,（3）固定将来日期付款汇票(Bills payable on a fixed future date)，此种汇票有时称为板期付款汇票。 例如：On 30 June fixed pay to,除以上三种期限外，凡是注明“在一个不确定日期付款” 或是“在一个或有事件发生时付款”者都是无效汇票。 例如：On arrival of the goods at the port of destination pay to 即为无效汇票。,46,汇票上必须写明“汇票”字样，如：bill of exchange, exchange, draft等。 例：“Ex

53、change for US$100”.,汇票是一项付款委托书，英国票据法称之为“书面命令”，而不是一项请求。因此，必须使用英语的“祈使句”，如：Pay to John Smith或Pay to A Co. or Order等等。 凡是附有条件的支付命令将使汇票失效，因此不能使用“Pay toproviding”或“Pay toon the condition that”这类语句。 Pay to ABC company or order the sum of five thousand pounds only providing the goods supplied in compliance

54、with contract无效汇票,金融系 刘玲,47,Pay to ABC company or order the sum of five thousand pounds from our account No. 1 with you 无效汇票 凡要求从某一特定资金中付款的命令，不能视为无条件的命令。 例:绝不能在汇票上面写“在货物到达后才付款”或“在商品品质达标的情况下才付款”。反之，“付购设备款50万元”，“付10万元再借记XX号帐户”，则属于无条件的付款命令，但最简明的方式是“付X元”。 但下列说明不能作为有条件支付的记载： （1）注明汇票起源交易，即出票条款（drawn claus

55、e）,不构成支付命令的条件。例如： Pay to A Company or order the sum of five thousand pounds, Drawn under Midland Bank, London L/C No.3456 dated 1June,2007有效汇票 （2）注明汇票付款后如何取得偿付的，不构成支付命令的条件。 例如： Pay to Robert Brown the sum of one hundred pounds and debit our a/c with you.有效汇票 （3）注明“对价收讫”或“对价已收”的汇票也是有效的。例如： Pay to A C

56、ompany or order the sum of five thousand pounds only for value received有效汇票,金融系 刘玲,48,利息条款（with interest）汇票上注明一定的利率或某一日市场利率加付利息，这是允许的。但利息条款须注明利率、起算日和终止日。例如： Pay to ABC Company or order the sum of five thousand pounds plus interest无效汇票 Pay to ABC Company or order the sum of five thousand pounds plus

57、interest calculated at the rate of 6% per annum from the date hereof to the date of payment有效汇票 英国票据法规定，有利息条款而未规定利率的汇票无效。 日内瓦统一法规定，见票即付和见票后定期付款的汇票，出票人可规定利息条款并应载明利率，若未载明利率者，该利息条款无效，而汇票本身有效。我国票据法也有相同规定。 分期付款（by stated installment）。分期付款的条款必须具体、可操作。例如： Pay to the order of ABC Company the sum of five tho

58、usand US dollars by installments.无效汇票 At 60 days after date pay to the order of ABC Company the sun of five thousand US dollars by 5 equal consecutive monthly installments.有效汇票 英国票据法规定允许分期付款，日内瓦统一法规定不允许分期付款。,49,汇票即现金的代表，其所代表的现金总是一个确定额。 “About one thousand dollars”, “Five or six thousand dollars”,这类记

59、载是不合格的.,汇票金额必须用文字大写(amount in words)和数字小写(amount in figures)同时记载，在汇票上“Exchange for”后填写小写金额，在“the sum of”后填写大写金额。 我国票据法规定。票据金额大小写金额必须一致，大小写金额不符，票据无效，银行以退票处理。 日内瓦统一法和英国票据法都规定票据大小写不一致时，以大写为准。,50,汇票上收款人的记载，通常称为抬头，根据抬头的不同写法，确定汇票的可流通性或不可流通性。汇票抬头有三种写法： （1）限制性抬头。限制性抬头的汇票不得转让他人。 例如：A.Pay to John Smith only B. Pay to John Smith not transferable (2) 指示性抬头。指示性抬头的汇票可用背书和交付的方法转让。 例如：A.Pay to the order of ABC Co. B. Pay to ABC Co. or order (3)来人抬头。来人抬头的汇票仅凭交付而转让，不需背书。 例如：A.Pay to beare