国际结算双语教材英语版.docx

国际结算双语教材英语版.docx

《国际结算双语教材英语版.docx》由会员分享，可在线阅读，更多相关《国际结算双语教材英语版.docx（39页珍藏版）》请在冰豆网上搜索。

国际结算双语教材英语版

IntroductiontoInternationalSettlement

Internationalpolitical,economicandculturalexchangeinevitablyleadstocreditsanddebtsowedbyonecountrytoanother.

Theinternationalsettlementinvolvesbothtangibleandintangibletrades,foreigninvestments,fundsborrowedfromorlenttoothercountriesandsoforth.Tobemorespecific,internationalpaymentsandsettlementscanalsobenecessaryfinancialactivitiesrenderedfromcommercialpayments,paymentsfortheservicesrendered,paymentsbetweengovernments,andthetransferoffundsamongcountries.

1.1Definition

Internationalpaymentsandsettlementsarefinancialactivitiesconductedamongdifferentcountriesinwhicheitherpaymentsareeffectedorfundsaretransferredfromonecountrytoanotherforthepurposeofsettlingaccounts,debts,claims,etc.

1.2TypesofInternationalSettlement

Usuallyinternationalsettlementisdividedintothreebroadcategories:

remittance,collectionandletterofcredit.Negotiableinstruments,however,waysofinternationalsettlementanddocumentsusedintheinternationalsettlementsometimesconstitutetheframeworkofinternationalsettlement.Forexample,thefollowingpaymenttermscanbereadinthesalescontracts.

（1）ThesupplieragreesthatthebuyerwilleffectpaymentsunderthetermofT/TagainstreceiptofB/Lbyfax.

（2）HongKongsuppliersagreethatthebuyerwilleffectpaymentsunderthetermofCAD（CashagainstDocuments）.

（3）Onlyincaseofnewsuppliersandfirstordertothem,thebuyermightagreetoeffectpaymentsunderL/Cterms．TheL/Cchargesonthebuyer'ssidewillbebornbythebuyerandtheL/Cchargesonsupplier'ssidewillbebornbythesupplier.TheBillofLadingismadeouttoorderandnotifythebuyer.

（4）IncasethatthesupplierstillinsistonL/Ctermsevenafterthefirstorder,thesupplieragreetotakeoverallL/Cchargesonhimaswellasthebuyer'sside.InthosecaseswerequestaBillofLading.

1.3HistoryandDevelopmentofInternationalSettlement

Tracingbackthehistoryofinternationalsettlement,themediumofexchangeoriginatedfromcoins.Lateron,commercialdraftsandothercreditinstrumentsemergedandbecamepopulartomeettheneedsoftheconstantlyincreasingbusinessactivitiesinbothgeographicalregionsandvolumeoftheinternationaltrade.

Dependingonthecreditabilityoffinancialinstitutions,bothbuyersandsellersareusuallywillingtocompletetheirsettlementthroughbanksrespectively,andafinancialarrangementcouldbereachedthen.Therefore,manybankshavefocusedontheirbusinessofinternationalsettlementandtradefinance.

Mostoftheinternationalpaymentsoriginatefromtransactionsintheworldtrade.Withtheenormousamountofinternationaltradeactivities,thevolumeoftheinternationalsettlementhasreachedtrillionsofUSdollarsnowadays.Banks;asaresult,arefocusingmoreandmoreonthedevelopmentofthebusinessbecauseitisamajorresourceofprofit.

1.4InternationalCustomsandPractices

TheInternationalChamberofCommerceistheworldbusinessorganization.Itistheonlyrepresentativebodythatspeakswithauthorityonbehalfofenterprisesfromallservicesineverypartoftheworld.

（1）InternationalPracticesconcerningBills:

BillofExchangeAct,1882,JevaUniformBillAct.

（2）InternationalPracticesconcerningSettlement：

（UniformRulesforCollection,ICCPublicationNo:

522）,UniformCustomsandPracticeforCommercialDocumentaryCredits,1993Revision,ICCPublicationNo.500）.

（3）InternationalPracticesconcerningDocuments:

HagueRules,HamburgRules,InternationalConventionConcerningtheTransportofGoodsbyRail,AgreementonInternationalRail-RoadthroughTransportofGoods,UniformRulesforaCombinedTransportDocuments,InstituteCargoClauses,ICC,InternationalRulesforInterpretationofTradeTerms,Incoterms2000andUNCITRALArbitrationRule.

Instruments

2.1GeneralIntroduction

BillsofExchange,cheques,andpromissorynotesareallknownasnegotiableinstruments.Itisafundamentalprincipleofpropertylawthatwecannotobtainabettertitlethanthatpossessedbythepersonfromwhomwereceivedit.Thereisalwaystheriskthatthatpersonhasnotitletothepropertybecausehehasstolenitorobtaineditfromsomeotherpersonwhogotimproperly.Thetrueowner,ondiscoveringthepropertyandprovinghisrighttoit,candemandthepropertyberestoredtohim.Ourremedyistolookforthepersonfromwhichwereceivedthepropertyandtrytogetourmoneyback.Thatpersonwillinturnclaimfromhisimmediatetransferor,thistracingrightgoesonuptotheunfortunateonewhoboughtthepropertyfromthethief.

2.2BillsofExchange

2.2.1Definition

ABillofExchange（draft）isacommercialinstrument.Itisanunconditionalorderinwriting,addressedbyonepersontoanother，signedbythepersongivingit，requiringthepersontowhomitisaddressedtopayondemand，oratafixedordeterminablefuturetime，asumcertaininmoney，toortotheorderofaspecifiedpersonortothebearer．

AtypicalBillofExchangeisdrawninthismanner（seeSpecimen2.1）·

Note:

●Anunconditionalorderinwriting.

●Addressedbyoneperson（thedrawer）.

●Toanother（thedrawee）.

●Signedbythepersongivingit.

●Requiringthepersontowhomitisaddressed.、、

●Topay.

●Ondemandoratafixedordeterminablefuturetime.

●Asumcertaininmoney:

●Toortotheorderofaspecifiedpersonorthebearer.

2.2.2LiabilityonBillsofExchange

TheliabilityonaBillofExchangeisbysignatureonly:

nosignature,noliability.Inanotherwords,nopersonisliableasdrawer,endorseroracceptorofabillwhohasnotsigned.

2.2.3EndorsementofBillsofExchange

Formanycommercialcontracts,thebenefitsofthecontractmaybetransferredfromonepersontoanother.WithaBillofExchange,thistransferiseffectedbydelivery,orbyendorsementanddelivery.Endorsementisasignatureandasignaturemustbethesamewiththetransferor'snameasstatedonthebill.Itisnormallyonthebackofthedocument.Therearefourtypesofendorsement:

blank,special,restrictiveorconditional.2．2.4AcceptanceofBillsofExchange

Thedraweehasnoliabilityonthebilluntilhesignsthebillin,suchawayastosignifyacceptanceofliabilitytopaythemoneystatedonthebill.Theacceptanceofabillisthesignificationbythedraweeofhisassenttotheorderofthedrawer.Anacceptanceisinvalidunlessitcomplieswiththefollowingconditions,namely:

（1）Itmustbewrittenonthebillandsignedbythedrawee.Themeresignatureofthedrawee,withoutadditionalwords,issufficient.

（2）Itmustnotexpressthatthedraweewillperformhispromisebyanyothermeansthanthepaymentofmoney.

Acceptancemaybemadebeforesignaturebythedrawer.Itmayalsobeacceptedwhenoverdueorwhenpreviouslybynon-acceptanceornon-payment.

2.2.5HoldersofBillsofExchange.

Aholderforvalueistheholderofbillforwhichvaluehasbeengiven:

heisaholderforvalueasregardsallpartiespriortohimself.Oncevalueisgivenforabill,the-holdergivingvalueandallsubsequentholdersareholdersforvalue.Aholderforvaluehastherightoftransferabilityconferreduponhimbythecommonlaw.Hehasexactlythesamerightstogether,withfaultsandfailings,ifany,ofthepersonwhotransferredthebilltohim.

2.2.6DutiesofHoldersofaBillofExchange

ABillofExchangeholdermustdotwothings：

presentthebillforacceptanceandpresentthebillforpayment.Theholdermustcarryouthisduties.Alternatively,hecantransferthebilltoanotherperson,withina"reasonabletime"ofreceivingthebill.

Presentingthebillforacceptanceispersonal.Thebillispresentedtothedraweepersonallyforacceptance,whereverheis.Insodoing,theholdergainsanextrasignatureandtherebyanextraliabilityonthebill.Ifthedraweerefusestoacceptthebill,thebillisthendishonoredbynon-acceptanceandtheholdercanimmediatelysueallpriorpartiestothebill.

Presentmentforpaymentislocal,meaningthatthebillmustbepresentedattherightplacewhetherornotthepersonliableonthebillisatthatplace.Therightplaceistheplacestatedonthebillasbeingtheplaceofpayment,otherwisethebillshouldbepresentedattheplaceofbusinessortheplaceofthedrawee/acceptor.Thepaymentshouldbepresentedduringbusinesshours.

2.2.7LiabilityofDrawers，DraweesandEndorsers

（1）LiabilityofDrawers

Bydrawingthebillthedrawercommitshimselftothefollowing:

a.Thatitwillbedulyacceptedorpaidonpresentment,and

b.Thatifitisdishonoredhewillcompensatetheholderoranyendorserforanylosssuffered.

（2）LiabilityofDrawees

Beforeacceptance,thedraweeisnotliabletoanyholder（thoughhemaybepersonallyliabletothedrawerifhedishonorsabillproperlydrawnuponhim）.

Afteracceptance,thedraweebecomesthepersonprimarilyliableonthebill,andengagesthathewillpaythebillaccordingtothetermsofhisacceptance.

（3）LiabilityofEndorsers

Anypersonwhoendorsesabillmakesacommitmentthatitwillbedulypaiduponpresentment.Ifthebillisdishonoredhewillcompensatetheholderwhoiscompelledtopayit.

2.2.8DishonorofBillsofExchange

Ifabillisdishonoredbynon-acceptanceornon-payment,theholdermustinformallpriorpartiesthatthebillhasbeendishonored.Ifsuchnoticehasnotbeengivenwithinareasonabletime,allpriorpartiesexceptthepersonprimarilyliableonthebillwillceasetobeliabletotheholder.Thepersonprimarilyliableonthebillisthedrawer.Oncethebillisaccepted,theacceptorassumesprimaryliability.

2.3Ch