国际结算英文教案_国际结算英文版
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国际结算英文教案
河南财经政法大学国贸学院
娄
钰
Introduction to This Course International Settlement is a subject mainly about banker’s settlement.Through the study of this subjec,we shall know how to examine documents and how to make documents.It will be beneficial to your future and your Job.For example there is a short meage like this:Mr Lou,I have attended an interview['intəvju:].The interviewer ['intəvju:ə] asked me some questions about documents.Because of my absence ['æbsəns] of Documents Making Cla in Grade 4,I don’t know to answer the intervier’s questions.So I lose such working opportunity.It is regretable for me not to study hard at school.I responsed to his text meage as following.Thank you for your short meage.Very regret[ri'ɡret] to know such bad news.Doesn’t matter!Sail while the wind blows;wind and tide wait for no man.(机不可失，时不再来)You have to study by yourself in the future.I believe you can study hard and make up your regret,and you can grasp all the chances.Good Luck!God Ble You!
About this subject,wo will learn all together fifteen units.Because in banker’s settlement,L/C settlement is most complicated and important one,in Unit One we shall learn Letter of Credit.L/C samples and L/C’s examining points are key points.In Unit Two,we shall learn the examination of letter of credit.Because documents are crucial under letter of credit,from Unit three to Unit thirteen,we will learn some documents’ making.The contents are as following: Unit Three Bill of Exchange Unit Four Invoice Unit Five
Transport Document Covering at Least Two Different Modes of Transport
至少包括两种不同运输方式的运输单据
Unit Six
Bill of Lading
Unit Seven Air Transport Document Unit Eight Rail Transport Document
Unit Nine Courier['ku:riə] Receipt, Post Receipt or Certificate of Posting 快递收据、邮政收据或投邮证明
Unit Ten
Insurance Document Unit Thirteen Certificate of Orign According to the traditional types of international settlement, the methods of settlement include remittance,collection ,L/C,Factoring and forfaiting.Therefore,in Unit fourteen and in Unit fifteen,we will learn factoring and forfaiting.also in some books,factoring and forfaiting are treated as financing tools.We should know that what we learned is different from the knowledge written in teaching books.In books,the details about remittance,bills of exchange,documentary collection and Letter of credit will be learn gradually.What we shall learn is arranged by me.It is my patent['peitənt].And also it is compiled just for your cla.Chapter One Letter of Credit In this chaper,we will mainly learn five parts.In the first part,we shall review the the conception of L/C.In the second part,we will learn the styles of iuing Letter of credit.Because more thatn 80 of Letter of credit is iued by SWIFT.Therefore,in the third part,we will learn the meage types(报文格式)of SWIFT MT700 and MT701.In order to know the meages detailly,in the fourth part,the contents of meage types of MT700 and MT701 will be learned.At last part,we will learn a sample of a letter of credit iued by MTＳ７００．
I.Definition of L/C Credit means any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the iuing bank to honour a complying presentation.This is a standard definition of letter of credit.II.Styles of Iue The Letter of credit may be iued by mail,telegram,telex,or SWIFT.Among them,the SWIFT is most popular one.The SWIFT here is a system which is researched and developed by Society for World-wide Interbank Financial Telecommunication[,telikə,mju:ni'keiʃən](环球银行金融电信协会),and is to be used to iue the letter of credit.Society for World-wide Interbank Financial Telecommunication is a non-profit international institution.Its headquarter is located in Bruel，and has already established two Swifting Centers(交换中心)in Amsterdam [,æmstə'dæm] and New York.Its purpose is to supply a quick,accurate and excellent['eksələnt] service for financial industries.Compared with other methods of iuing letter of credit,the SWIFT system has its features.At first, a bank which wants to use SWIFT must has a ['steitəs] of member.In China,most of banks are members of SWIFT.Second,the fees of SWIFT is lower than those of telex and cable.It is just 18 percent of telex’s and 2.5 percent of cable’s.Also its transimiion rate is higher than other methods.If the letter of credit is iued by mail,it speed is the lowest one just as slow as the regular mail.Third,it has the feature of high security[si'kjuəriti].Its test code is automatically[,ɔ:tə'mætikəli] generated(自动生成).The computer with SWIF can automatic-decrypting[di:'kript] 解密码.Fourth,the style of SWIF is standard.MT 700 is the meage style of a letter of credit.MT 701 is the style of amendament.III.MT700 and MT701 MT700 is the SWIFT format(Meage Type报文格式)for a documentary Letter of Credit, but it is also poible to iue a Standby Letter of Credit.MT701 is the SWIFT format for amendment of L/C.For a SWIFT,its structure include five data blocks.That is
Basic header balock(基本报头),application header block(应用报头),user header block(用户报头),text block(电报正文)and tailer block(报尾).IV.Meage Type（报文信息格式）
Tag(代码)
Field Name(栏位名称)27
Sequence of Total(报文页次)40A
Form of Documentary Credit 20
Documentary Credit Number 31C
Date of Iue 31D
Date and Place of Expiry [ik'spaiəri, ek-]
51a
Applicant Bank 50
Application 59
Beneficiary
32B
Currency Code(币种代码)，Amount 46B
Documents Required
39A
Percentage [pə'sentidʒ] Credit Amount Tolerance ['tɔlərəns] 41a
Available With…By… 42C
Drafts at…
42a
Drawee(受款人)
42P
43P
43T
44A
44B
44C
53a
57a
45A
46A
47A
71B
MT701：
Tag
52a
31c
26E
31E
32B
33B
34B
39A
39B
39C
44A
44B
Deferred Payment Details
Partial Shipments
Transhipment
Loading on Board/Dispatch/Taking in charge at /from…
For Transportation to…
Latest Date of Shipment
Period for Presentation
Confirmation Instructions
Reimbursement Bank（偿付行）
Instructions to the Paying accepting/negotiation bank
Advise Through Bank
Description Goods and/or Services
Documents Required
Additional Conditions
Charges
Field Name
Sender’s Reference ['refərəns]（送讯银行的编号）
Receiver’s Reference（收讯银行的编号）
Iuing Bank’s Reference Iuing Bank Date of Iue
Date of Amendment Number of Amendment Beneficiary(before this amendment)New Date of Expiry Increase [in'kri:s, 'inkri:s]of Documentary Credit amount Decrease of Documentary Credit amount New Documentary Credit Amount After
Percentage [pə'sentidʒ] Credit Amount Tolerance Maximum Credit Amount Additional Amount Covered Loading on Board/Dispatch/Taking in charge at /from For Transportation to…
44C
Latest Date of Shipment 44D
Shipment Period
V.MT S700 Sample(S-SWIFT)
LOGICAL TERMINAL YCDT(基本报头)
PAGE 00001
FUNC JSTXFORM
URM
20221318
MT S700
ISSUE OF A DOCUMENTARY CREDIT APPLICANT HEARDER
0 700 1646 090212 CREGBEBBAXXX
（应用报头）
*0116 831051 090212 1546 N
*CBC BANQUE S.A
*BRUSSELS
*(ALL OFFICES)USER HEARDER
SERVICE CODE
103:
（用户报头）
BANK.PRIORITY[prai'ɔrəti] 113:
MSG USER REF.108:
INFO.FROM CI
115:
以下为电报正文
SEQUENCE OF TOTAL
27:1/1 FORM OF DOC CREDIT
40A:IRREVOCABLE DOC CREDIT NUMBER
20:b590030958466 DATE OF ISSUE
31C:090212 APPLICABLE RULES
40E:UCPURR LATEST URR（URR，The Uniform Rules for bank-to-bank Reimbursement Under Documentary Credits跟单信用证项下银行间偿付统一规则），EXPIRY
31D:091212 PLACE IN BENEFICIARY’S COUNTRY APPLICANT
50:BELGIUM SHOES COMPANY LIMITED
AVENUE LOUISE 168, ['ævənju:] [lu:'i:z]
160 BRUSSELS,BELGIUM ['brʌslz] ['beldʒəm]
TEL:0032-56789123 BENEFICIARY
59:BRIGHT IMPORT AND EXPORT CORPORATION
JIANKANG ROAD NANJING CHINA
TEL:025-84439538 AMOUNT
32B: CURRENCY USD AMOUNT 58.360.00 AVAILABLE BY
41D:ANY BANK IN CHINA BY NEGOTIATION DRAFT AT
42C:SIGHT DRAWEE
42D:OURSELVES PARTIAL SHIPMENT
43P:ALLOWED TRANSSHIPMENT
43T:ALLOWED PORT OF LOADING
44E:ANY CHINESE PORT/AIR PORT PORT OF DISCHARGING
44F:ANY BELGIUM PORT/AIRPORT LATEST DATE OF SHIP:
44:091109 SHIPMENT PERIOD
44D:SEE FIELD 45A DESCRIPT.OF GOODS
45A:
PVC BOOTS
ORDER NO.,STYLE NO.,Q’TY,UNIT PRICE
07A-T900
JAP-01 2000PRS USD3.49/PR
07A-T901
JAP-02 2000PRS USD3.04/PR
07A-T902
JAP-03 4000PRS USD4.77/PR
07A-T903
JAP-04 6000PRS USD4.37/PR
CPTBELGIUM
TO BE SHIPPED BETWEEN 20090426 AND 20091109 DOCUMENTS REQUIRED 46A:
+SIGNED COMMERCIAL INVOICE TRIPLICATE
+FULL SET LESS ONE ORIGINAL CLEAN ON BOARD BILL OF LADING MADE OUT TO ORDER OF ISSUING BANKED MARKED FREIGHT PREPAID NOTIFYING APPLICANT.+CERTIFICATE OF ORIGIN ADDITIONAL COND.47A:
+CONTAINER(40’)SHIPMENT REQUIRED
+T/T REIMBURSEMENT IS NOT ACCEPTABLE.+INSURANCE TO BE EFFECTED BY THE APPLICANT
+AIR CARGO FOR ORDER.NO.07A-T903 IS REQUIRED.CLEAN AIR WAYBILL CONSIGNED TO ORDER OF ISSUING BANK FREIGHT PREPAID NOTIFYING APPLICANT.+ONE FULL SET OF NON-NEGOTIABLE COPIES OF SHIPPING DOCUMENTS AND ONE ORIGINAL BILL OF LAING MUST BE FORWARDED BY COURIER SERVIE TO APPLICANT AND A CERTIFICATE TO THAT EFFECT TOGETHER WITH THE ORIGINAL COURIER RECEIPT TO ACCOMPANY THE DOCUMENTS FOR NEGOTIATION.+PARTIAL SHIPMENT NOT ALLOWED WITHIN
EACH ORDER.+ALL DOCUMENTS SHAOULD BE ISSUED IN ENGLISH.+THIRD PARTY DOCUMENTS ACCEPTABLE.DETAILS OF CHARGES: 71B:ALL BANK CHARGES AND COMMISSIONS OUTSIDE OF BRUSSELS ʌslz] ARE FOR BENEFICIARY’S ACCOUNT EVEN IN CASE OF NON-UTILIZATION OR CANCELATION OF THE CREDIT.PRESENTATION PRIOD
DOCUMENTS TO BE PRESENTED WITHIN TEN DAYS
AFTER THE DATE OF SHIPMENT BUT WITHIN THE VALIDITY OF THE CREDIT.CONFIRMATION
49:WITHOUT REIMBURSING BANK
53A:BOTKUS33XXX
*BANK OF TOKYO-MITSUBISH UFJ,LTD.*NEW YORK,NY
*NEW YORK BRANCH.INSTRUCTIONS
78:
ALL DOCUMENTS MUST BE SENT TO US AND REIMBURSE ə:s] YOURSELVES FROM REIMBURSING BANK UNDER YOUR SWIFT ADVICE MT754 TO US.偿付行(Reimbursing Bank)是指接受开证银行在信用证中委托代开证银行偿还垫款的第三国银行。也就是开证银行指定的对议付行或代付行进行偿还的代理人(Reimbursing Agent)。当议付行对信用证受益人进行议付后，议付行拿单据要向开证行索汇，这个过程就叫Reimbursement。
Credit with t/t reimbursement 带电汇偿付条款的信用证:即期信用证中规定,议付行在议付后可以电传方式通知开证行,要求开证行以电汇方式将货款拨交议付 行.这种方式使出口商在议付时减少扣减贴息的计息天数.但开证行未经审查即先行付宽，故开证行往往在信用证中指定一家可靠的议付行,即为限制议付信用证
电报索偿不接受，即开证行要在接到相符交单的单据才会把钱偿付给按指定行事的指定银行，不会凭指定银行发给开证行的相符交单电文偿付款项。
偿付行(Reimbursing Bank)是指接受开证银行在信用证中委托代开证银行偿还垫款的第三国银行。也就是开证银行指定的对议付行或代付行进行偿还的代理人(Reimbursing Agent)。
即期信用证分单到付款和电汇偿付两种，单到付款大家经常用，就是开证行或者指定的付款行收到符合信用证条款的汇票和单据后，立即付款。进口商则立即向开证行付款赎回单据。而在电报偿付信用证项下，出口地的议付行在收到受益人提交的完全符合信用证的单据后，用SWIFT或TELEX向开证行提出立即付款。电报中会声明单据和信用证是一致的。并已经按照信用证规定寄送。这样，开证行接到电报通知后会已电汇的方式偿付即T/T REIMBURSEMENT，这种信用证从你交单到开证行付款只要两三天，加快了出口方的资金周转。
A DISCREPANCY FEE OF USD45.00 WILL BE DEDUCTED FROM THE PROCEEDS IF DOCUMENTS CONTAINING DISCREPANCIES ARE PRESENTED TO US UNDER THIS CREDIT.SEND.TO REC.INFO.72:ISSUING BANK:CBC BANQUE
DOCUMENTARY CREDITD COE-GRAND
PLACE 5 B-1000 BRUSSELS TAILER
ORDER IS.报尾
MAC:D201E83B
CHK:C94E4C414DCB
LOGICAL TERMINAL YCDTChapter II.The Examination of Letter of Credit Once the letter of credit is iued,the first thing the advising bank and beneficiary must do is to examine the letter of credit.It is crucial for the reclaiming [ri'kleimiŋ] of payments.The contents of examination are as follows.I.Iuing banker’s credit i.The way of investigation Bankers' Almanac ['ɔ:lmənæk]（银行年鉴）is a leading provider of reference ['refərəns] data on the banking industry.Its portfolio（[pɔ:t'fəuljəu, ,pəut-] n.公文包；文件夹；证券投资组合；部长职务）of solutions（[sə'lju:ʃən]综合性的解决方案）aims to help financial decision-makers make payments, conduct due diligence,（尽力调查）ae credit risk and conduct financial research on the world's banks.ii.The method of avoiding risk
Looking for a confirming bank.Confirming bank means the bank that adds its confirmation to a credit upon the iuing bank’s authorization or request.Confirmation means a definite undertaking of the confirming bank, in addition to that of the iuing bank, to honour or negotiate a complying presentation.II.Forms of L/C a.revocable;irrevocable;revocable transferable,revocable standby,etc.b.revocable L/C clauses(1)The orderer reserves the right to cancel the sale related to this L/C if at the arrival of the merchandise at the destination port,the orderer previously have not obtained the import licences required by the Customs authorization,consequently,this L/C is conditioned to obtaining the requested import licences.(2)It is condition of this letter of credit that it will be automatically cancelled upon receipt by us of notice from the applicant stating that quota for this shipment was not available.III.Rules Applicable UCPURR LATEST VERSION
i.This credit is subject to UCP600 excluding article…….ii.This letter of credit is subject to the Uniform Customs and Practice for Documentary Credits.The laws of England shall apply.All disputes shall be subject to the exclusive jurisdiction of high court of justice in England.iii.This letter of credit is subject to Uniform Commercial Code.IV.Date and Place of Expiry i.Date of expiry means expiry date for presentation or expiry date of credit.ii.Expiry date for honour or Expiry date for negotiation means “expiry date for presentation”.Draft and documents must be negotiated before 20091130.iii.If a letter of credit stipulates both the date of expiry and the date of presentaion,the documents must be presented within the date of presentation.Question: Date of expiry------March 31,Date of B/L
--------March 15,Date of Presentation---15 calendar days after shipment.What’s the date of presentation?iv.Date of presentation is just apply to original Transportation documents which are required by L/C.If the transportation documents are copies or cargo receipt,presentation may be presented during the period of validity.31D:date of expiry
090730
44C:latest shipment date
090701 46A:Documents required Forwarder Cargo Receipt
If the date of delivery in the forwarder cargo receipt show 09705 Whether a discrepancy exists?
If the iuing bank wants to apply the date of presentation to non-transportation documents,the Letter of credit must have such two clauses,such as:
(1)Date cargo receipt iued and signed by applicant showing the goods shipped from Nanjing to Hongkong applicant’s factory and shipment date which is not late than Aug.31,2009.(2)Documents must be presented within 15 days after shipment date shown on Cargo Receipt but within validity Of this L/C.v.Place for presentation
The beneficiary must present the documents to iuing bank or nominated bank.If the beneficiary must present the documents to th iuing bank,he must bear liabilities to present the documents to the iuing bank.Article 35 Disclaimer on Transmiion and Translation
A bank aumes no liability or responsibility for the consequences arising out of delay, lo in transit, mutilation or other errors arising in the transmiion of any meages or delivery of letters or documents, when such meages, letters or documents are transmitted or sent according to the requirements stated in the credit, or when the bank may have taken the initiative in the choice of the delivery service in the absence of such instructions in the credit.当报文、信件或单据按照信用证的要求传输或发送时，或当信用证未作指示，银行自行选择传送服务时，银行对报文传输或信件或单据的递送过程中发生的延误、中途遗失、残缺或其他错误产生的后果，概不负责。
If a nominated bank determines that a presentation is complying and forwards the documents to the iuing bank or confirming bank, whether or not the nominated bank has honoured or negotiated, an iuing bank or confirming bank must honour or negotiate, or reimburse that nominated bank, even when the documents have been lost in transit between the nominated bank and the iuing bank or confirming bank, or between the confirming bank and the iuing bank.如果指定银行确定交单相符并将单据发往开证行或保兑行。无论指定的银行是否已经承付或议付，开证行或保兑行必须承付或议付，或偿付指定银行，即使单据在指定银行送往开证行或保兑行的途中，或保兑行送往开证行的途中丢失。
A bank aumes no liability or responsibility for errors in translation or interpretation of technical terms and may transmit credit terms without translating them.银行对技术术语的翻译或解释上的错误，不负责任，并可不加翻译地传送信用证条款。
V.Honour means:
a.to pay at sight if the credit is available by sight payment.b.to incur a deferred payment undertaking and pay at maturity if the credit is available by deferred payment.c.to accept a bill of exchange(“draft”)drawn by the beneficiary and pay at maturity if the credit is available by acceptance.The representation of payment at sight:41a available with iuing bank by payment available with the nominated bank by payment available with any bank by payment
If the draft must be followed:42C draft at must be at sight.The representation of payment by defer payment:41a field must be available with iuing bank by defer payment available with the nominated bank by defer payment available with any bank by defer payment
If 42P field stipulates “draft drawn on xx bank at xx days after shipment date”,the L/C must be amended into acceptance or negotiation L/C.The representation of payment by acceptance :41a field must be available with iuing bank by acceptance available with the nominated bank by acceptance available with any bank by acceptance If the L/C is a negotiation L/C,42a field stipulates: available with the nominayed bank by negotiation available with any bank by negotiation The negotiation L/C should stipulate the documents must be send to the iuing bank and the iuing bank will honour against comlying presentation.“Please send the documents to our addre herein.Upon receipt of documents in strict compliance with L/C terms at our counter we undertake to pay as per negotiating bank’s instruction.”
The honour style can not be: available with …by honour or available with iuing bank by negotiation VI.Documents Clauses Article 5 Documents:Banks deal with documents and not with goods, services or performance to which the documents may relate.Documents clause must be clear and specific:
“Weight List must be marked with the gro weight and net weight of each bale individually and also the total conditioned weight.”
If the clauses stipulated in the L/C,the beneficiary must ask the iuing bank to amend the L/C.“Inspection certificate iued and manually signed by ABC Co.Ltd.Certifying the goods have been inspected at the time of shipment and found in good order and condition.”
VII.Subsidiary Condition i.non-documents condition Article 14 standard of examination of documents
g.A document presented but not required by the credit will be disregarded and may be returned to the presenter.h.If a credit contains a condition without stipulating the document to indicate compliance with the condition, banks will deem such condition as not stated and will disregard it.The non-documentary condition will be disregarded ony by the bank, the beneficiary must berestrained by such condition during the fulfilment of the contract,and must connect with the applicant to change this condition into corresponding documents.“Shipment by conference line veel”-----“Shipping company’s certificate stating the goods are shipped by conference line veel.”
“B/L to indicate shipment by conference line veel.” ii.Soft clauses a.The merchadise is subject to a subsequent inspection in Panama.If the specification of merchandise is not in confirmity with our standard,payment should be refused.b.This credit is not operative only after having obtained the import license and in any case only after our SWIFT advice to you.c.The goods are to be shipped via the veel oppointed by the applicant of L/C through a SWIFT amendment of L/Cby iuing bank to advising bank,and an amendment should be accompanied with the original documents.iii.Unclear condition and instruction “1000 kgs of frozen pigeon,aorted in one male and one female or males only.” VIII.Iuing Bank’s Undertaking i.Iuing bank’s Responsibility Articl7b.An iuing bank is irrevocably bound to honour as of the time it iues the credit.ii.The dealing methods with discrepancy documents Article16 iii.a)The bank is holding the documents pending further instructions from the presenter;or b)that the iuing bank is holding the documents until it receives a waiver from the applicant and agrees to accept it, or receives further instructions from the presenter prior to agreeing to accept a waiver;or
c)that the bank is returning the documents;or
d)that the bank is acting in accordance with instructions previously received from the presenter.iii.Exampting from primary payment liability clause a.We will remint funds upon receipt of docs at our counter strictly complying credit terms on or after maturity subject to receipt of payment of the bill from the L/C opener.b.In case of discrepant documents presented and refused by us,we may,at our discretion,release documents to the applicant upon their waiver of discrepancies unle prior contrary instruction have been received from the presenter at our counter.In such event,the beneficiary and/or the presenting bank shall have no claim against us,the iuing bank.c.If we give notice stating all discrepancies in respect of which we refuse the documents,we shall deliver the documents to the applicant for their approval and shall not be liable for any consequences of that action.We shall make payment to you upon the authorization of the applicant.
