國(guó)際結(jié)算(楊娟著)英文課件8

1、1The seller should check the following aspects before agree to accept the L/C:(1) The authorized signature or the test key of the L/C(2) The creditworthiness of the issuing bank(3) The credit rating of the country where the issuing bank resides(4) The liability clause of the transmitting bank(5) The

2、 credit rating of the transferring bankThe beneficiary should also check the L/C itself, such as:The buyers and sellers name and addresses are correctThe amount of the credit is in accordance with the contract, including unit prices, shipping charges, handling costs and total invoice amounts.The mer

3、chandise description is consistent with the sales contractThe credits payment availability agrees with the contract conditions.The shipping, expiration, and presentation dates allow sufficient time for processing the order, shipping the merchandise and preparing the documents for presentation to the

4、 bank.Partial or transshipments are specified correctly.The point of dispatch, taking charge of the goods. Loading on board, or of discharge at final destination are as agreed.Insurance coverage and party to pay charges are as agreed.Instructions on whom the drafts are to be drawn, and in what tenor

5、 (maturity dates), are correct.The credit is confirmed or unconfirmed as agreed.There are no unacceptable conditions.The specified documents can be obtained in the form required.The issuing bank is known to the seller.Some notes on examining the CreditRegulations on partial shipment (UCP 600) A pres

6、entation consisting of more than one set of transport documents evidencing shipment commencing on the same means of conveyance and for the same journey, provided they indicate the same destination, will not be regarded as covering a partial shipment, even if they indicate different dates of shipment

7、 or different ports of loading, places of taking in charge or dispatch. 4CasesIf L/C stated, partial shipment is not allowed. Beneficial shipped the cargo from Ningbo by two boats and then joined together shipped to Philippines. The issuing bank raises there are discrepancies with the L/C. Do you ag

8、ree with the issuing bank?5案例某出口商向歐洲出口食品，貨源分散在天某出口商向歐洲出口食品，貨源分散在天津、山東、津、山東、 上海等幾個(gè)地方。為了就近上海等幾個(gè)地方。為了就近裝運(yùn)節(jié)省費(fèi)用，他可能在天津裝一部分，裝運(yùn)節(jié)省費(fèi)用，他可能在天津裝一部分，船經(jīng)過(guò)青島港后再裝另一部分，船到達(dá)上船經(jīng)過(guò)青島港后再裝另一部分，船到達(dá)上海港最后裝運(yùn)信用證規(guī)定的全部余下貨物海港最后裝運(yùn)信用證規(guī)定的全部余下貨物。在這種情況下，簽發(fā)了不止一套提單，。在這種情況下，簽發(fā)了不止一套提單，簽發(fā)者也可能不是一家公司，簽發(fā)日期有簽發(fā)者也可能不是一家公司，簽發(fā)日期有先有后，如果信用證禁止分批裝運(yùn)，這些先有

9、后，如果信用證禁止分批裝運(yùn)，這些提單是否構(gòu)成不符點(diǎn)提單是否構(gòu)成不符點(diǎn)6L/C regulates the port of loading: Yichang, port of discharge: Singapore . Since the ship cannot drive in shallow water and have to loaded in Shanghai. Shanghai becomes the port of receipt.If B/L says: Port of receipt：Yichang Pre-carriage by truck Port of loading：S

10、hanghai Port of discharge：SingaporeCan we accept this kind of B/L?No, we cannot. Since the port of loading in B/L is not the same as that in L/C78Some notes on shipment date, period of presentation of documents and the expiry date :雙到期（裝效同期）if there is no fixed date for shipment, then the expiry dat

11、e can be seen as the latest shipment date；Latest date for presentation of documentswithin 21 days after the bill of lading date if there is no definite regulation；修改中只展裝期未展效期，可理解為裝效同展，只展效期未展裝期，不能認(rèn)為裝效同展9開(kāi)證行的拒付及拒付后單據(jù)的處理開(kāi)證行的拒付及拒付后單據(jù)的處理現(xiàn)行信用證拒付操作實(shí)務(wù)現(xiàn)行信用證拒付操作實(shí)務(wù)l1.1.必須是在合理時(shí)間必須是在合理時(shí)間(REASONABLE TIME)(REASONA

12、BLE TIME)及不超過(guò)自及不超過(guò)自收到單據(jù)翌日起的第七個(gè)銀行工作日內(nèi)通知交單行收到單據(jù)翌日起的第七個(gè)銀行工作日內(nèi)通知交單行/ /機(jī)構(gòu)機(jī)構(gòu)/ /受益人；受益人；l2.2.必須以最快捷方式通知不符點(diǎn)，一般采用電傳必須以最快捷方式通知不符點(diǎn)，一般采用電傳(TELEX)(TELEX)或或(SWIFT)(SWIFT)方式；方式；l3.3.一次性提出所有不符點(diǎn)（一次性提出所有不符點(diǎn)（“ONLY ONE BITE OF ONLY ONE BITE OF CHERRYCHERRY”）；）；10l4.4.提出的不符點(diǎn)須是實(shí)質(zhì)性不符點(diǎn)，不得一提出的不符點(diǎn)須是實(shí)質(zhì)性不符點(diǎn)，不得一味偏袒開(kāi)證申請(qǐng)人，挑剔單據(jù)無(wú)理拒

13、付；味偏袒開(kāi)證申請(qǐng)人，挑剔單據(jù)無(wú)理拒付；l5.5.不符點(diǎn)通知上必須說(shuō)明拒付及單據(jù)代交單不符點(diǎn)通知上必須說(shuō)明拒付及單據(jù)代交單行保存并聽(tīng)候處理；行保存并聽(tīng)候處理；l6.6.若開(kāi)證申請(qǐng)人在開(kāi)證行收到單據(jù)前已向開(kāi)若開(kāi)證申請(qǐng)人在開(kāi)證行收到單據(jù)前已向開(kāi)證行申請(qǐng)開(kāi)立提貨擔(dān)保憑以提取貨物，則即證行申請(qǐng)開(kāi)立提貨擔(dān)保憑以提取貨物，則即使單據(jù)中存在不符點(diǎn)，亦不得再對(duì)外拒付。使單據(jù)中存在不符點(diǎn)，亦不得再對(duì)外拒付。11構(gòu)成合格拒付通知的構(gòu)成合格拒付通知的“三要素三要素”: :l要有明確的拒付意思表示W(wǎng)E REFUSE THE DOCUMENTS l一次性列出全部不符點(diǎn)，不符點(diǎn)必須明確DUE TO THE DISCREP

14、ANCY(IES) FOUND THEREINl表明單據(jù)已代為保管聽(tīng)候處理，或已退給交單人WE ARE HOLDING DOCS. AT YR DISPOSAL PENDING YR INSTRUCTIONS.OR,WE HAVE RETURNED DOCS.TO YOU12136.6 Types of L/C6.6.1 Clean credit and Documentary credit6.6.2 Irrevocable Credit and Revocable Credit6.6.3 Confirmed Credit and unconfirmed Credit6.6.4 Sight p

15、ayment Credit, Deferred Payment Credit, Acceptance Credit and Negotiation Credit6.6.5 Transferable Credit and Non-transferable Credit146.6.6 Back to back Credit6.6.7 Reciprocal Credit6.6.8 Revolving Credit 6.6.9 Anticipatory Credit6.6.10 Escrow L/C156.3.1 Clean credit and Documentary creditClean cre

16、dit: refers to the L/C that does not require any documents other than a written demand for payment by its beneficiary. Some L/Cs require draft and other documents, but not transport documents are also grouped as clean credit. Clean credit is generally used in non-trade settlement, such as travel che

17、ck. 16Documentary credit: refers to the L/C which makes the payment against documentary draft or documents, including bill of lading, insurance, certificate of origin, inspection certificate etc. Such kinds of documents representing the belonging of goods are the key issues of L/C and they are also

18、the foundation for banks to process L/C business. Documentary letter of credit is now widely used in international trade.176.3.2 Irrevocable Credit and Revocable CreditRevocable Credit A revocable documentary credit gives the buyer and/or issuing bank the ability to amend or cancel the credit at any

19、 time right up to the moment of intended payment without approval by, or notice to, the seller. “ We hereby undertake to reimburse you for all drafts honored by you in accordance with the terms of this Credit prior to your receiving notice of cancellation”18Irrevocable CreditAn irrevocable documenta

20、ry credit constitutes a firm contractual obligation on the part of the issuing bank to honor the terms of payment of the credit as issued. The buyer and issuing bank cannot amend or cancel the credit without the express approval of the seller. “We hereby issue the irrevocable documentary credit in y

21、our favor. It is subject to the UCP 600.”196.3.3 Confirmed Credit and unconfirmed CreditConfirmed irrevocable creditmeans a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honor or negotiate a complying presentation. And gives the beneficiary a double assuran

22、ce of payment.According to the UCP600,confirmation can be only added at the request of the issuing bank.Used when the seller does not have confidence that the issuing bank can effectively guarantee payment .20silent confirmation DefinitionArrangement between the beneficiary of a letter of credit (L/

23、C) and the negotiating bank whereby the latter commits to negotiate the L/C on its due date. The L/C must be negotiable or payable by itself so that the negotiating bank (like a confirming bank) may acquire the holder-in-due-course rights. It is not a true confirmation and does not use the word conf

24、irmation.Without authorization of issuing bank216.3.4 Sight payment Credit, Deferred Payment Credit, Acceptance Credit and Negotiation Credit22Types of sight payment creditPaid in import country and matured in import country cannot be negotiated (outside negotiation)the risk of beneficiary is very l

25、argePaid in import country and matured in export country Paid in the third country and matured in export countrye.g. US dollar credit issued in Singapore, paid in US Paid in export country and matured in export country23Deferred Payment Creditswithout a draftGenerally used for capital good trade2425

26、the purchase by the nominated bank of drafts (drawn on a bank other than the nominated bank) and/or documents under a complying presentation, by advancing or agreeing to advance funds to the beneficiary on or before the banking day on which reimbursement is due to the nominated bank.26premises1) the

27、 credit must indicate “available by negotiation”; 2) the negotiating bank should have got the authorization from the issuing bank; 3) only advancing the complying presentation of documents;4) the draft, if any, should be drawn on a bank other than the nominated bank. 2728A credit under which the ben

28、eficiary (first beneficiary) may request the bank authorized to pay, incur a deferred payment undertaking, accept or negotiate (the “transferring bank”), or in the case of a freely negotiable credit, the bank specifically authorised in the credit as a transferring bank, to make the credit available

29、in whole or in part to one or more other beneficiary (second beneficiary) .“Divisible”, “fractionable”, “assignable”, “transmissible” is not treated as transferable credit by the bank.6.3.5 Transferable L/CTransferring bank means a nominated bank that transfers the credit or, in a credit available w

30、ith any bank, a bank that is specifically authorized by the issuing bank to transfer the credit. An issuing bank may be a transferring bank.(UCP 600, Art.38) UCP600中允許開(kāi)證行作為轉(zhuǎn)讓行解決了被指定銀行拒絕轉(zhuǎn)讓的問(wèn)題。 如果信用證轉(zhuǎn)讓給一個(gè)以上的第二受益人，一項(xiàng)修改被一個(gè)或多個(gè)第二受益人拒絕，并不意味著被其他第二受益人的接受為無(wú)效，對(duì)接受者來(lái)說(shuō)該證已做修改?？赊D(zhuǎn)讓信用證在禁止分批裝運(yùn)時(shí)，信用證只能全額轉(zhuǎn)讓給一個(gè)第二受益人（可保留差額

31、利潤(rùn)）。30Application：enables a middleman who is receiving payment from a buyer to transfer his claim under the credit to his own supplier. Function： provides a bank undertaking to manufacturer and will not tie up the funds of middleman; simplifies the payment procedures; keeps the commercial secrets 31

32、Seller/first beneficiaryTransferring bankBuyer/applicantIssuing bankmanufacturerAdvising bank1)application2)documentary L/c3)advice of L/C4)request to transfer L/C5)advice of transferred L/C6)presentation of documents8)remitting documents 9)payment10)payment10)pay the balance7) Exchange the invoiceP

33、rocedure32Clauses can be changed in a transferred credit uUnit price and the amount of credit can be reduceduThe expire date, final shipment date and the final date for presentation can be shorteneduThe percentage of insurance cover may be increaseduThe name and address of the first beneficiary can

34、be substitute for that of the original buyer 33If the first beneficiary is to present its own invoice and draft, if any, but fails to do so on the first demand, or if the invoices presented by the first beneficiary create discrepancies that did not exist in the presentation of the second beneficiary

35、 and the first beneficiary fails to correct them on first demand, the transferring bank has the right to present the documents as received from the second beneficiary to the issuing bank, without further responsibility to the first beneficiary. 轉(zhuǎn)讓行有權(quán)在第一受益人無(wú)法或疏于換單（發(fā)票及匯票）的情轉(zhuǎn)讓行有權(quán)在第一受益人無(wú)法或疏于換單（發(fā)票及匯票）的情況

36、下直接將收到的第二受益人的單據(jù)提交給開(kāi)證行，保護(hù)沒(méi)況下直接將收到的第二受益人的單據(jù)提交給開(kāi)證行，保護(hù)沒(méi)有過(guò)錯(cuò)的第二受益人。有過(guò)錯(cuò)的第二受益人。 34Presentation of documents by or on behalf of a second beneficiary must be made to the transferring bank. 明確第二受益人必須向轉(zhuǎn)讓行交單，為了明確第二受益人必須向轉(zhuǎn)讓行交單，為了保護(hù)第一受益人的利益不受侵害。保護(hù)第一受益人的利益不受侵害。 35Original beneficiary/new applicantBuyer/Original app

37、licantIssuing bankAdvising bankReal supplierNew beneficiaryIssuing bankAdvising bankBuyer/Original applicantIssuing bankAdvising bank /transferring bankFirst beneficiaryManufacturerReal supplier363738 A reciprocal credit is mostly used in a barter trade(易貨貿(mào)易), a trade of processing of incoming mater

38、ials, a counter trade(互購(gòu) ), or a compensation trade. In the above types of trade, there are usually two transactions and letters of credit involved. The applicant of one credit (the original credit) may assume the position of the beneficiary of the other credit (the reciprocal credit), and the benef

39、iciary of the first credit is the applicant of the second credit. 6.3.7 Reciprocal L/C (對(duì)開(kāi)信用證對(duì)開(kāi)信用證)39Reciprocal CreditFirst applicant/second beneficiaryFirst issuing bankSecond advising bankFirst advising bankSecond issuing bankFirst beneficiarySecond applicant(1)(1)(2)(2)(3)(3)40For example:This cr

40、edit is available by drafts drawn on us at 180 days after bill of lading date.This is a reciprocal credit against Bank Credit No. _favoring _covering shipment of_ 4142Cumulative revolving credit （積累性循環(huán)信用證）“This Credit is revolving at US$100,000 covering shipment of _ per calendar month cumulative op

41、eration from January 2004 to June 2004 inclusive up to a total of US$ 600,000.” Non-cumulative revolving credit （非積累性循環(huán)信用證）“This Credit is revolving at US$ 100 000 covering shipment of _ per calendar month non-cumulative operation from January 2004 to June 2004 inclusive.” 4344“This credit shall be

42、renewable automatically twice for a period of one month each for an amount of USD50,000 for each period making a total of USD 150,000.” “Should the negotiating bank not be advised of stopping renewal within 7 days, the unused balance of this credit shall be increased to the original amount on the 8t

43、h day after each negotiation.” “The amount shall be renewal after each negotiation only upon receipt of issuing banks notice stating that the credit might be renewal.”45 (or packing credit), 46 是指在對(duì)銷貿(mào)易中，一國(guó)開(kāi)立的是指在對(duì)銷貿(mào)易中，一國(guó)開(kāi)立的L/CL/C中規(guī)定，該信用證中規(guī)定，該信用證下申請(qǐng)人所付的款項(xiàng)，將以受益人的名義存放開(kāi)證銀行，下申請(qǐng)人所付的款項(xiàng)，將以受益人的名義存放開(kāi)證銀行，用于支付受益

44、人從開(kāi)證行所在國(guó)的進(jìn)口貨款，也稱為有條用于支付受益人從開(kāi)證行所在國(guó)的進(jìn)口貨款，也稱為有條件支付。開(kāi)證行為受益人開(kāi)立的帳戶叫件支付。開(kāi)證行為受益人開(kāi)立的帳戶叫“P.I.EP.I.E”賬戶。賬戶。 特點(diǎn)：特點(diǎn)： 1 1、“付款付款”只是以受益人的名義存在只是以受益人的名義存在P.I.EP.I.E賬戶中，賬戶中，不能支取現(xiàn)金，類似與記帳貿(mào)易；不能支取現(xiàn)金，類似與記帳貿(mào)易； 2 2、平衡進(jìn)出口貿(mào)易收支；、平衡進(jìn)出口貿(mào)易收支； 3 3、實(shí)際的交易方涉及三方，而不像對(duì)開(kāi)、實(shí)際的交易方涉及三方，而不像對(duì)開(kāi)L/CL/C中僅涉及中僅涉及兩方。兩方。47Importer AExporter B/Applicant

45、 of N (importer)Exporter NIssuing bank CP.I.E account of B Advising bank/Issuing bank of B1)appli-cation2)advise3)advise 4)docu-ments5)documents6)pay and redeem documents7)credit Bs accountgoodsgoodsAdvising bank1)application2)advise3)documents4)docu-ments5)Asking C to pay6)payment from Bs account48

46、6.4 Key Issues under L/C6.4.1 Regarding the Role of Banks 6.4.2 Risk Protection 6.4.3 Financing under L/C6.4.4 Advantage and Disadvantage of L/C496.4.1 Regarding the Role of Banksall parties, especially for banks, in the letter of credit transaction deal with documentsbanks promise to pay under a do

47、cumentary credit is conditional in essence and accompanied with many disclaimers on effectiveness of documents, transmission and translation, force majeure and acts of an instructed party. 5051(1) Effected by credit amendment “暫不生效暫不生效”Effected by obtained certain documents or satisfied with certain conditions (sampl