國際結(jié)算復習資料

1、I. True or false1. Without bank' participation, modern int 'trade payment system would not exist any more _T2. The esse nee of both buyers and sellers concern is whether the coun terpart fulfills the con tract _T3. Int ' l settlement and trade payment is a theoryther than a practice F4.

2、Int ' l settlement can only be used in visible tFadeII. What do the following abbreviations stand for?1. ICC 國際商會 The International Chamber of Commerce2. FDI Foreign Direct In vestme nt 夕卜商直接投資3. FXForeign Excha nge夕卜匯4. FAS Free Alon gside Ship 船邊交貨條件5. FOB FREE ON BOAR裝運港船上交貨條件6. CIF COST, INS

3、URANCE AND FREIGH本力口運保費交貨條件7. SWIFT The Society For WorldwideIn ter-ba nkFinan cialTelecom muni catio ns環(huán)球銀行間金融電訊協(xié)會)8. CNY China Yuan 人民幣9. GBPGreat Britai n Sterl ing Pound 英鎊10. JPYJapan ese yen 日元11. HKD Hong Kong dollar 港幣12. AUDAustralian Dollar,澳元13. SGD 新加坡元 Singapore dollar14. NZD新西蘭元 New Ze

4、aland dollar15. CAD 加拿大元 Canada DollarA. Term explanation1. drafta bill of excha nge, esp. any bill before it has bee n accepted, or a bank bill, or a sight bill, or an inland bill. Any writte n order to pay money2. accepta neeact of accept ing resp on sibility for pay ing the value of a bill)3. gua

5、ra nteea 3rd party to a draft, the guarantor, who promises to pay the draft when presented if it ' s drafgot to accept when presented and to pay when it is due if it 'a time draft When it is dishonored by non-payment or non-acceptance, the guarantor becomes reliable for the draft4. protesta

6、formal declarati on in writ ing made by a no tary public, wit ness ing & record ing the dishonor of a drat or promissory note5. right of recoursethe right of the payee or holder of a draft that is disho nored at its maturity to dema nd payme nt from the other parties, such as the drawer or an en

7、 dorser, uni ess these parties have writte n the words without recourse or sans recours aga inst their sig natures.6. prese ntme nta sight draft has to be prese nted duly for payme nt;a time draft, has to do so duly for accepta nee g and to be prese nted aga in for payme nt at maturity7. payme ntper

8、formed whe n a draft is paid8. no tice of dish onora writte n in formatio n give n to the drawer & each en dorser on the n ext bus in ess day after the dish onor of the draft.9. issue1) to draw and sign a draft;2) to deliver it to the payee, based on the Bills of Excha ngeAct After the 2 steps,

9、the draft is irrevocable under the drawer ' snfipromise for the drawee is to accept and pay for it.10. en dorseme ntan act of negotiation. A payee or the holder of a draft should endorse it 1st if he tran sfers or passes its title to others; Still, the holder must do so on the back of it before

10、he sells it to the buyer if he sells or disco unts it.11. guara ntorpers on who guara ntees the accepta nee and the payme nt of an in strume nt12. disho nora failure or refusal to accept a time draft or pay a sight draft when it ' s prese nted.B. Based on the draft given below, please fill in th

11、e blanks withrelative numbers in brackets and some other terms:Excha nge for GBP 1,250.00 (1) Beiji ng, 1 April, 200xAt 90 d/s after sight pay to the order of DEF CO. (3) the sum of Pounds one thousa nd two hun dred and fifty only To XYZ BankLondon (4)For ABC Co., Beijing (5) (Signature) The draft i

12、s an unconditional order in writing addressed by (5_ ) to (_4_) signedby (_5_) giving it requiring (_4_) to whom it is addressed to pay (_2_) the sum of (_1_) to (_3_). The holder of the draft is (_3_) who must firstly present it to (_4_) for _acceptance_. At maturity, the holder must present it for

13、 _payment .D. Fill in the following blank form to draw a draft with the information given below:Date: 31 Aug., 2005; Amou nt: USD8,690.64;Tenor: at 30 d/s after sight Drawer: Peter Hardley, London; Payee: JohnSmith or bearerDrawee: Norther n Bank Ltd, London;Exchange for USD 8,690.64 London, 31 Aug,

14、 2005At 30 d/s after sight, pay this 1st draft (2nd of same tenor& date un paid) to the order ofJoh n Smithor bearer, theSum of US Dollars_ Eight thousa nd six hun dred nin ety_ and64/100 only.Draw n to Norther n Bank Ltd, LondonPeter Hardley, London(Sig nature)E. Multiple choices1. If a draft i

15、s termed like _, its exact time for payment is to be fixed by the payer after his accepta nee. B_A. at sightB. at x x d/s after sightC. at x x d/s after date D. at x x d/s after shipme nt2. In the following drafts, it is not negotiable if marked withA_ .A. Pay to Joh nson Co. Ltd onlyB. Pay to beare

16、rC. Pay to ABC Co. & its orderD. Pay to the order of Joh nson Co. Ltd3. On the face of a draft, _D_ is to be added to the end of the sum in words to prevent from being alteredA. OK B. end C. en ough D. onlyIf a con tract for the amount of GBP720,000 wasapproved for buyer ' s credit up to 85%

17、 of the said amou nt by Ba nk of Oslo, Norway to BOC, Beiji ng. After the payme nt, BOC would issue a Promissory note on 1st July, 2005 specify ing that it is payable at 3 yrs after the above stated date to the order of BOO the sum of 85% of GBP720,000. Please write a promissory note by filling in t

18、he blanks of the following form:Promissory NoteIssued in Beijing the 1st July , 2005. On 1st July , 2008 fixed,we promise to pay aga inst this promissory note tothe order of BOO , Norway the sum of GBP 612, 000(say Pounds six hun dred and twelve thousa nd onl y), payable only in Oslo, Norway .For an

19、d on behalf_BOC, , Beijing(Sig nature)Fill in the following blanks with the numbers in brackets:Check for USD3,00.00 (1) Sha nghai. May 5, 200xPay to the order of John Smith (2) the sum of threethousand US dollars. (3)To: Bank of China, Shanghai, China (4)For China ABC Co., Shanghai (5)(sig nature)T

20、he above check is addressed by _5_, the customer to _4_ , the bank, authorizing that bank to pay on dema nd the sum of 1 or 3_ to _2一.II. True or false?1. Check can be con sidered as the dema nd draft draw n on a bank T2. The writer of a check is not allowed to write a check with his sig nature whic

21、h does n 't comply with his sig nature left to a bank in adva nee. T3. After the accepta nee of a time draft, the acceptor becomes the payer as the primary debtorT4. Traveler ' s check is one of the chFcks.Fill in blanks with proper wordsT /TM/TD/DA form of sendinga form of payme nta form of

22、 dema nd draftcable or telex ororder or mail adviceSWIFT2. Exam ined by test keyexam ined by sign atureexam ined by sign ature3. A safe methodnot so safe as T/Tnot so safe as T/T4. With highest costwith lower costwith lower cost5. The fastest andnot so ofte n useda useful method ofmost populardue to

23、 its slower speedremitta nee& pay ablemethod of remitta neeby a bank rather tha n thepay ing bankFill in blanks with proper terms:1.4 parties to a remitta nee areremitter,remitt ing ban k,pay ing bank & payee2. Remitta nee through a bank from one country to ano ther may usu. be made by one o

24、f the following methods: M/T, T/T and D/D.True or false1. D/D sta nds for dema nd draft_T2. Among T/T, M/T & D/D, T/T is the cheapest method of payme nt_F3. SWIFT is the speediest form of payment _T4. SWIFT sta nds for Society for Worldwide In ter-ba nk Finan cial Telecom muni cati ons_JMultiple

25、 choice1. SWIFT isB_ .A.B. a kind of com muni cati ons bel onging to T/T system for inter- bank ' s fund tran sferC. an institution of the UN;D. a gover nment orga ni zati on2. Mail tran sfers are sent to the corresp ondent bank C_, uni ess otherwise in structed by clie nts.A. by courier service

26、B. by ordinary mailC. by airmailD. by sea-mail3. The various methods of settlement all involve the same book keeping, only different at the A_A. method by which the overseas bank is advised about the tran sferB. method by which the ben eficiary is advised about the tran sferC. the speedD. the ben ef

27、iciary4. A Dpayment doesn ' t take as long as an M/T paymentA. SWIFT B. T/T C. D/D D. A or BTerm explanation1. M/Tfunds are transferred against a payment order or a mail advice, or sometimes a debt advice issued by a remitti ng bank, at the request of the remitter.2. T/Ta quick way of sending mo

28、ney by cabled bank tran sfer to a pers on in ano ther coun try. The payee can be paid either in cash or by credit to his bank a/c. Test key is used to verify its authe nticity (whether the cable is true or no t).3. D/Da negotiable instrument drawn by a bank on its overseas branch or its corresponden

29、t abroad, in struct ing the latter to pay on dema nd the stated amount to the holder.4. reverse remitta needifferent directi ons for the way of funds & settleme nt in strume nts to be tran sferred.Themoveme nt of draft & proceeds in differe nt direct ion, with payme nt asked for by the payee

30、 as the exporter in itiativelyFill in blanks with proper words or letters:a. The abbreviation for Delivery of documents against payment is D/P.b. The abbreviation for Delivery of documents against acceptanee is D/A.c. Collect ion means the han dli ng by banks of docume nts in accorda nee with in str

31、uct ions received in order to 1) obtain payment &/or acceptanee or 2) deliver documents against payme nt &/or aga inst accepta nee.d. Financial documents means bills of exchange, promissory notes, checks. Commercial documents mean invoices, transport documents, documents of title or other si

32、milar docume nts.e. Parties in a collect ion incl. drawer (or seller), remitti ng bank , collecting bank (or prese nti ng ban k), and drawee (or buyer).True or false?1. If the in struct ions are D/P , the importer ' s bank will release the docume nts to the importeronly against payment. _J2. The

33、 principal is usu. the importer. _F3. Promissory no tes are commercial docume nts._F4. Banks have no liability for any delay or loss caused by postal or telex failure. _T5. In the case of docume nts payable at sight the prese nti ng bank must make prese ntati on for payme nt without delay. _T6. Good

34、s should not be dispatched direct to the address of a bank or con sig ned to a bank without prior agreeme nt on the part of that bank. TTerm explanation1) collecti onobtaining payme nt of a debt, e.g. a bill of excha nge (draft), check, etc, through banks from the debtor2) clea n collect ions contra

35、a means of collectio n settleme nt in which the seller asks his bank to collect his proceeds from the buyer by prese nti ng the bank a clea n draft without shipp ing docume nts attached. It docume ntary collect ion, it' s not accompa nied by commercial irohpassivDice B/L, etc.3) docume ntary col

36、lect ioncollecti on on finan cial in strume nts with commercial docume nts or collect ion on commercial docume nts without finan cial in strume nts, i.e. the collecti on of a sum due from a buyer by a bank aga inst delivery of certa in docume nts, say, a draft.4) D/Pa means of gett ing payme nt for

37、export shipme nts, by which the exporter or his age nt sends the shipp ing docume nts to a bank at the port of desti nati on with an order to hand the docume nts to the buyer or his age nt only whe n the draft has bee n paid5) D/Aa means of settleme nt for the importer to get the docume nts he n eed

38、s in order to get possessi onof the goods after he accepts the draft prese nted by bankMultiple choice1. parties to a collection involve AA. drawer, remitting bank, collecting bank, draweeB. drawer, drawee, holder, en dorser,C. drawer, en dorser, en dorsee, payerD. holder in due course, drawer, guar

39、antor, payer2. Ownership of the goods belongs to D before the importer pays or accepts the docume ntary collect ionA. payerB. collect ing bank,C. shipp ing compa nyD. drawer3. Un der collecti on, the payer for the draft should be BA. exporterB. importerC. remitt ing bankD. collect ing bank4. Settlem

40、e nt for collecti on is based on trade credit becauseC_.A. no banks participateB. commercial draft is draw nC. banks have no obligati on to en sure payme nt5. If drawee refuses to pay whe n collect ing bank prese nts him the docume nts, the bank is toCA. ask the payer to expla in whyB. write“ dish o

41、nored ” on the draftC. I nform the drawer of the dish onor at once D. try to protest the draft6. The major differe nee between D/P & D/A lies at that B C .A. D/P bel ongs to docume ntary collecti on, while D/A bel ongs to clea n collecti onB. un der D/P,docume nts are delivered after pay-me nt,

42、while un der D/A, after accepta neeC. un der D/P, payme nt is made at sight, while un der D/A, after sightD. un der D/P, payme nt is made after sight, while un der D/A, made at sightBriefly answer the following question:a. What is the differe nee between D/P & D/A?Delivery at differe nt time:D/P

43、: exporter 'documents are delivered after importer 'spaymentD/A: exporter 'sdocuments are delivered after importer 'acceptaneePayme nt at differe nt time:D/P: importer has to pay at sight (sight draft);D/A: importer may pay after sight ( time one)Seller with differe nt riskD/P: the e

44、xporter suffers low riskD/A: the seller possible to loss both goods and proceedsb. What' s collect ion based on as a form olsettleme nt?Commercial credit and trade creditc. What int ' l rules should be observed for theus in ess of collect ion at prese nt?The un iform rules for collect ions (

45、URC522)、The uniform rules for collecti ons is the intern ati on ally recog ni zed codificati on of rules unifying banking practice regard ing collect ion operati ons for drafts and for docume ntary collect ionsd. What is the nature of D/A, and that of D/P?D/P:not only importer can get goods.but also

46、 exporter can get payme nt in timeD/A: importer may pay after sight,favorable for importer to get the B/L in time, un favorable for exporter.Both bel ong to docume ntory collect ion.e. How many basic parties concerned are there in collect ion and who are they?Four、drawer、 remitting bank、 collecting

47、bank、 draweef. How many ways are there in collecti on & what are they?Three、D/P、 D/A、acceptanee documents against paymentFill in blanks with proper wordsa. Under an irrevocable L/C, the issuing bank must bear the 1st reliability for payment.b. An irrevocable credit can n either be can celled nor

48、 modified without the agreeme nt of theissu ing bank, the confirming bank (if any) & theben eficiaryc. If a credit is issued by BOC, Guan gzhou & con firmed by BOC, New York, the payme nt is en sured by both ban ks.d. A con firmed credit is favorable to exporter, but not favorable to importe

49、r.e. if an L/C is attached with no transport documents & allows payment to be made only against a draft, it clean credit.f. Because it ' tso risky on the side of exporter, revocable credit is hardly used in intern ati onal trade.Who areA. pay ing bankD. confirming bankG. n egotiati ng bankB.

50、 issu ing bankC. reimburseme nt bank,E. ben eficiaryF. advis ing bankH. applica nt respectively? (Match work)1. whose obligati on is to arra nge for an L/C to be ope ned or issued in favor of the exporterH2. referred to sb. who can ben efit from the L/C by its assura nee of payme nt to him & thi

51、spayme nt term is usu .in corporated in the S/C at the request of the exporter. E3. the bank that issued the docume ntary credit on behalf of the applica nt B4. the bank that has the task of informing the ben eficiary that credit has bee n issued in his favorso that the ben eficiary may make n ecess

52、ary preparati on for shipp ing the goods & draft ing the documents stipulated in the credit. F5. The bank that is authorized to pay the beneficiary or accept or negotiate his drafts, against hisprese ntati on of proper docume nts._A6. The bank that buys an exporter' s draft submitted to it u

53、nder a documentaryGredit7. The bank that is requested to add its own commitme nt ( make payme nt to the ben eficiary) to the docume ntary credit. D8. The bank that, at the request of the issu ing ban k, is to authorized to pay, or accept and pay time drafts un der the L/C CWhat do the following abbr

54、eviations stand for?1. UCPUn iform Customs and Practice2. L/Cle卄er of credit3. B/Lbill of lad ing4. N/Nnon-n egotiable5. A/Caccou nt6. H/OHEAD OFFICEMultiple choice1. A_ is the 1stly reliable payer under an L/C.A. issu ing bankB. n egotiat ing bankC. applica ntD. advis ing bank2. The most important

55、thing for a beneficiary of an L/C to examine the L/C is to make sureC .A. the L/C ' s authenticityB. the issuing bank ' s authenticity;C. if the terms & conditions of the L/C comply with those in the S/C;D. the political backgro und of the issu ing bank3. “ strict con siste ncy” in L/C b

56、us in esstinefecmfejste ncy betwee n C_.A. L/C & S/CB. L/C & goods con cernedC. docume nts & L/CD. docume nts & goods concerned4. According to UCP500, an L/C is B L/C if it ' s not marked a irrevocable ” or “ revocable.A. revocableB. irrevocableC. either revocable or irrevocable

57、D. none of A, B & CQuestions1. ABC Co., an exporter, who ships the goods & delivers the documents concerned to its negotiating bank under an L/C, but the importer, EFG Co. is bankrupt suddenly & unable to make the payme nt. If so, can the exporter gets the proceeds? Why or why not?Yes, b

58、ecause issuing bank is the 1stly reliable payer under an L/C, if the documents presented by the seller are in complianee with the terms & conditions of the L/C, the issuing bank is to pay the seller, even the applicant is bankrupt or in default.2. If L/C specifies the date for shipment as “ on/or about 15th May” & the beneficiarypresents the B/L dated“ May 20 ” , can the negotiating bank negotiate the document? Whyor why not?Yes According to the UC