International Settlement Test 2.docx

International Settlement Test 2.docx

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InternationalSettlementTest2

InternationalSettlementTest2

Ⅰ.Definethefollowingterms.（16%）

1.remittance

2.mailtransfer

3.collection

4.outwardcollection

Ⅱ.Decidewhetherthefollowingstatementsaretrueorfalse.（20%）

1.Therepresentativeincaseofneedappointedbythebuyertoarrangethewarehouseandinsuranceintheeventofnon-acceptanceand/ornon-payment.（F）

2.TheremittingbankunderD/Disgenerallyreluctanttostoppaymentonadraftissuedbyitselfforwhichwillhaveanunfavorableeffectonitscredit-worthiness.（T）

3.InD/D,remittingbankdrawsabanker’sdraftonpayingbankorderingthelattertopayinthefuturethestatedamounttotheholderofthedraft.（F）

4.Apaymentorder,airmailadviceorcreditadviceorpleasedebitadviceisanauthenticatedorderinwritingaddressedbyonebanktoanotherinstructingthelattertopayasumcertaininmoneytoaspecifiedpersonorbeneficiarynamedthereon.（T）

5.Theonlymeansofauthenticatingacabletransferistheauthorizedsignatures.（F）

6.Mailtransferisoftenusedwhentheclientwantstotransferthefundstohisbeneficiaryhimself.（F）

7.Iftheremittingbankopensacurrentaccountwiththepayingbank,thereimbursementmaybeeffectedbydebitingnostroaccountoftheremittingbank.（T）

8.T/TisfasterandmoreexpensiveascomparedwithM/TorD/D.（T）

9.Thebuyer（drawee）isgenerallythecustomerofabankwhopreparesdocumentationandsubmitsthemtotheremittingbankwithacolletionorderforpayment.（F）

10.Documentsagainstacceptanceoffersthegreatersecuritytotheexporterthandocumentsagainstpayment.（F）

11.Whenthecolletingbankreleasesthedocumentstothebuyeronthetrustreceipt,thelegaltitletothegoodsremainswiththeentruster.（T）

12.TheremittingbankwillconsidertopurchasethedocumentarybillfromtheselleronlyunderD/A.（F）

13.Ifthecollectingbankisnotlocatedneartheimporter,itwouldsendthedocumentstoapresentingbankintheimporter’scity.（T）

14.Underdocumentsagainstacceptance,afteracceptance,thebuyergainspossessionofthegoodsbeforethepaymentismadeandisabletodisposeofthegoods.（T）

15.Remittanceservesasacompromisebetweencollectionandletterofcreditinsettlementofinternationaltransactionsconcludedbytheimporterandtheexporter.（F）

16.Collectionbillpurchasedinvolvesgreatriskforremittingbanks,sotheyareseldomwilltodoso.（T）

17.UnderD/A,thesellerissuesadraft,thecollectingbankpresentsthedrafttothebuyer.Whenthebuyerseesithemustpaythemoneyatonce,thenhecangettheshippingdocuments.（F）

18.Allcurrenciescanbeusedininternationalsettlements.（F）

19.ToBankofChina,aRMBaccountheldbyBankofEnglandiscallednostroaccount.（F）

20.Thepersonpayingthemoneyisapayee.（F）

Ⅲ.Mutiplechoicing.（20%）

1.（）aretheobligationsofthetrusteeunderD/P,T/R.

A.Toarrangeforthegoodstobewarehousedandinsuredinthebuyer’sname

B.Topayalltheproceedsofsaletothecollectingbankortoholdthemonbehalfofthebank

C.Nottoputthegoodsinpledgetootherpersons

D.Toreturnthegoodsortheproceedstothecollectingbankatanytimewhenrequested

E.Tosettleclaimsofthecollectingbankbeforeliquidationincaseofthetrustee’sbankruptcy

2.（）aretherisksthattheexporterassumesondocumentarycollectionbasis.

A.Non-acceptanceofmerchandise

B.Harmtothereputationduetodishonor

C.Exchangerestrictions

D.Non-paymentoftradeacceptance

E.Losingcontroloverthemerchandisebeforepayment

3.TheprocedureforD/Patsightcomprisethefollowingsteps（）.

A.Thecollectingbankpresentsthedocumentarybilltothedraweeforpaymentasfastaspossible

B.Thedraweeacceptsthebill

C.Thedraweepaysthefaceamountofthedraftplusanychargesthedraweeisresponsiblefor

D.Thecollectingbankreleasesthedocumentstotheimporteragainstpayment

E.ThedraweepresentsT/Rtoexchangethebilloflading

4.Thepartiestocollectioninclude（）.

A.remitterB.remittingbankC.principalD.payingbank

E.collectingbankF.representativeincaseofneedG.drawee

5.（）canbeprovidedtobankforcleancollection.

A.ChecksB.Dividendwarrantsdrawnonforeignbank

C.promissorynoteD.acceptances

E.certificatesofdepositissuedbyforeignbanks

6.AccordingtoURC522,collectionsmeansthehandlingbybanks,oninstructionsreceived,ofdocuments,inorderto（）

A.obtainacceptanceand/or,asthecasemaybe,payment

B.delivercommercialdocumentsagainstacceptanceor,asthecasemaybe,againstpayment

C.deliverdocumentsonothertermsandconditions

D.delivertitledocumentsagainstacceptanceor,asthecasemaybe,againstpayment

E.delivercertificatesofdeposittobanks

7.Controldocumentsarelistsof（）

A.specimenofauthorizedsignatures

B.telegraphictestkeys

C.termsandconditions

D.SWIFTauthentickey

E.businessinstructions

8.D/Aoffersdisadvantagestothesellersuchas（）.

A.thesellergainspossessionofthegoodsbeforethepaymentismade

B.thesellerisabletodisposeofthegoodsashewishes

C.thesellerlosesthecontrolofthegoods

D.thesellerreliesonthecreditworthinessandintegrityofbuyertopayonduedate

E.thesellercangetbillpurchasedfromtheremittingbank

9.Generalcrossingbearsacrossitsfaceanadditionof（）,thismakethecheckpayableonlythroughanybanker.

A.onlytwoparalleltransverse

B.thewords“andcompany”betweentwoparalleltransverselines

C.thewords“notnegotiable”betweentwoparalleltransverselines

D.thewords“accountpayee”betweentwoparalleltransverselines

E.thewords“BankofChina”betweentwoparalleltransverselines

10.Thecharacteristicsofmoderninternationalpaymentsandsettlementsare（）.

A.foreignbanksactasthefinancialintermediary

B.foreignbankmarketsdoplayaveryimportantrole

C.creditinstrumentsareusedwidely

D.frompaymentsundersimplepricetermstopaymentsundermorecomplexpriceterms

E.transferofforeignexchangefundsandconveyofmessagesareverymuchfacilitated

Ⅳ.Analyzetheprinciplesandcasesininternationalsettlementsandgiveyouropinion.（24%）

1.URC522Article26shows:

Onreceiptofsuchadvice,theremittingbankmustgiveappropriateinsructionsastothefurtherhandlingofthedocuments.Ifsuchinstructionsarenotreceivedbythepresentingbankwithin60daysafteritsadviceofnon-paymentand/ornon-acceptance,thedocumentsmaybereturnedtothebankfromwhichthecollectioninstructionwasreceivedwithoutanyfurtherresponsibilityonthepartofthepresentingbank.1.答：

本条款出现在托收统一规则“拒绝付款或拒绝承兑的通知”条款中，本条款规定：

提示行应毫无延误地将拒绝付款及/或拒绝承兑的通知发送给向其发出托收指示的银行。

收到该通知后，托收行必须就进一步处理单据发出适当的指示。

如在发出拒绝付款及/或拒绝承兑通知后60天内，提示行未收到该项指示，可将单据退回向其发出托收指示的银行，而提示行方面不承担任何其他责任。

在实务处理中，各方当事人应严格按照规定的时间处理相应业务，否则由此而产生的风险将由自己承担。

2.Collectigbank—ChinaMerchantsBank-CMB;

Remittingbank—KingchengBankingCorporationKowloonBaySub-branch;Principal—WinplusCoLtd

payer—ChinaNationalTextilesImpandExpCorp

ThepayerclaimedthattheprincipalagreedtoreducetheamountfromUSD850,000.00toUSD800,000.00.Howcanthecollectingbankdo?

（1）代收行不能根据付款人的请求或凭借其提供的受益人传真只付部分款项交单。

（2）URC522第四条A款I条规定：

银行仅被允许根据托收指示所作出的各项指示和按照本规则办理；III条规定：

在托收指示中，除非另有授权，银行将不理会除收到托收委托的当事人/银行以外的任何当事人/银行的任何指示。

托收业务作为一种委托业务，代理人即代收行若想改变托收指示的条款，必须经委托人即托收行认可方行。

待托收行确认接受后，按减少的金额支付。

3.Thepayermadepaymentagainstasetofcorrectdocumentsundercollection,threedayslater,thepayerclaimedthegoodsreceivedwere“cotton”insteadof“silk”stipulatedinthecontractandaskedthecollectingbanktocontactwiththeseller.Howcanthecollectingbankdo?

1）代收行将款项付出后不能再办理退款。

（2）根据UCP522十三条规定：

银行对于任何单据中有关货物描述、数量、质量、状况、包装、价值或存在，对于货物的托运人、承运人、运输行、收货人、保险承保人、其他任何人的诚信、行为、及/或忽略、清偿能力、执行能力或信誉也概不负责。

即托收业务中银行即不管单也不管货，一旦按照托收指示付款后一切责任免除。

本案中，付款人可以根据贸易合同向法院对卖方提出起诉。

Ⅴ.Practice（20%）

1.AnswerthequestionsagaisntthefollowigbillunderD/D.（10%）

BANKOFCHINA

ThisdraftisvalidforoneNo.1256679

yearfromthedateofIssueAmountUSD20,000.00

Guangzhou,15th,May,2002

PaytotheorderofWileteccCo.,Ltd.,NewYork

thesumofU.S.DollarsTwentyThousandOnly

ToBankofChina

410MadisonAvenue

NewYorkBANKOFCHINA

中国银行

110017GUANGZHOU

AcompanypresentsthecollectionapplicationtoBankofChina,GuangzhouforD/D,andthebankdrawsthebillforUSD20,000.00onBankofChina,NewYorkpayableat

sighttoWileteccCo.,Ltd.,NewYorkdatedon15,May,2002.

2.Theseller—ACompany,GuangzhoupresentsdocumentationtoBankofChinaforBillpurchasedundercollectionandtransfersthebillofexchangetotheremittingbankbyspecialendorsement,thentheremittingbanktransfersthebilltothecollectingbank—BankofAmericabyblankendorsement.（10%）

Thebackofthebill

PaytoBankofChinaForBankofChina

ForACompany

Guangzhou