International Settlement.docx

International Settlement.docx

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InternationalSettlement

InternationalSettlement

TheResearchObjectiveofInternationalSettlement

Chapterone：

IntroductiontoInternationalSettlement

1.国际结算的定义

DefinitionofInternationalsettlementInternationalsettlementreferstothemoneytransferviabankstosettleaccounts,debtsandclaimsamongdifferentcountries.

国际结算是指处于两个不同国家的当事人，通过银行办理的两国间货币收付业务。

2.Threeelementsininternationalsettlement（国际结算中的三要素）

（1）Personsindifferentcountries（不同国家）

Buyersandsellersintheinternationaltransactionarenotcompetitors,butcooperativepartnersforseekinglong-termandcommoninterest.

（2）Bank’sParticipation（银行参与）

（1）facilitatingfundstransferefficientlyworld-wide;

（2）promotingtransactionsbecauseoftheireasilysupervisingbothbuyerandseller;

（3）Fundstransfer（资金转移）

Fundstransferalwayshappensinthefollowingactivities:

visibletrade：

importingandexportingthetangibleandvisiblecommodityandgoods.Importersinonecountrymustmakepaymenttoexportersinanothercountryfortheirimportedgoods;ontheotherhand,exportersmustreceivepaymentfromtheoverseasbuyers.

invisibletrade：

Itincludsservicetrade,technologytransfer,patent,copyrightcontracts,etc.servicetradeincludeallreceiptsandpaymentsbetwwentheresidentsandforeignersontransportation,insurance,travel,communications,postageandbankservice,etc.

financialtransaction：

Internationalfinancialtransactioncoversforeignexchangemarkettransaction,governmentsupportedexportcredits,syndicatedloans,etc.

paymentbetweengovernments：

Thegovernmentofonecountrymaymakepaymenttothatofanothercountryforpolitical,military,oreconomicreasons,suchasgivingaidsandgrants,providingdisasterrelief,etc.

3.TypesofInternationalSettlement

visibletradeInternationalTradeSettlement

invisibletrade

financialtransactionInternationalNon-tradeSettlement

paymentbetweengovernments

4.EvolutionofModernInternationalSettlement

ØFrombartertransactiontocashsettlement从易货交易到现金结算

ØFromcashsettlementtonon-cashsettlement从现金结算到非现金结算

ØFromdirectpaymentmadebetweeninternationaltraderstopaymenteffectedthroughafinancialintermediary从直接支付到通过金融中介支付

ØFrompaymentsundersimplepricetermstopaymentsundermorecomplexpriceterms从简单贸易术语结算到复杂贸易术语结算

FromtraditionalsettlementtoE-settlement从传统结算到电子结算

4.CharacteristicsofModernInternationalSettlement

5.TypesofInternationalBankingOffices

RepresentativeOffice（代表处）

ArepresentativeofficeisasmallservicefacilitystaffedbyparentbankpersonnelthatisdesignedtoassistMNCclientsoftheparentbankindealingswiththebank’scorrespondents.

-----Promotesthebankinthelocalmarket

-----Notlicensedorchartered

-----Maynotacceptdepositsormakeloans

-----Directsbusinesstootherofficesoraffiliates

-----Representativeofficesalsoassistwithinformationaboutlocalbusinesscustoms,andcreditevaluationoftheMNC’slocalcustomers.

AgencyOffice（代理处）

Agencyofficeistheoverseasfinancialinstitutionwhichcantransfermoneyandmakeloansinforeigncountry.

-----Onepartoftheparentbank,notadependentlegalperson（juristicperson）.

-----Nottoacceptdeposits,butcanmakeloans,providetradefinancing,issuingL/C,andmakeacceptance.

ForeignBranch（海外分行）

Anofficeofanorganizationthatislocatedoutsidethehomecountryofthatorganizationwhereabankingorfinancingbusinessisconducted.

Aforeignbranchbankoperateslikealocalbank,butislegallypartofthetheparent.

-----Subjecttoboththebankingregulationsofhomecountryandforeigncountry.

-----Canprovideamuchfullerrangeofservicesthanarepresentativeoffice.

BranchBanksarethemostpopularwayforU.S.bankstoexpandoverseas.

CorrespondentBank（代理银行）

Thecorrespondentbankcanbedefinedas“abankhavingdirectconnectionorfriendlyservicerelationswithanotherbank.”

-----Acorrespondentbankingrelationshipexistswhentwobanksmaintaindepositswitheachother.

-----Correspondentbankisverynecessaryinglobaleconomy.Evenforlargeinternationalbank,suchasBankofChina,theestablishmentofthecorrespondentrelationshipisstillveryimportantbecausetheycannotdoanybusinesswithoutthecooperationoflocalbanks.

SubsidiaryandAffiliateBank（附属银行）

Asubsidiarybankisalocallyincorporatedbankwhollyorpartlyownedbyaforeignparent.

Anaffiliatebankisonethatispartlyownedbutnotcontrolledbytheparent.

Aconsortiumbankreferstoajointventureinwhichnosingleownerhasacontrollinginterest.

AffiliatedBank（联营银行）

ConsortiumBank（银团银行）

7.Howtoestablishcorrespondentbankrelationship

1　Choosethebestbank

-----Thefollowingfactorsshouldbeconsidered:

1）Thereputationofthebank

2）SizeoftheBank

3）Serviceofferedbythebank

4）Physicalfeatureandpersonnel

2　Signingcontractandexchangingcontroldocuments（控制文件）

Controldocumentsinclude:

SpecimenSignature（印鉴样本）Telegraphictestkey（密押）

Termsandconditions（条款费率表）

8.Inter-bankaccounts（银行往来帐户）

Banksalwaysopenanaccountinotherbanksinforeigncountries,thusformstheinter-bankaccounts.

●Tocreditsb’sa/cwith贷记某人或某某单位帐户一定金额

●Todebitsb’sa/cwith借记某人或某某单位账户一定金额

●CreditAdviceandDebitAdvice贷记报单和借记报单

9.BasicMethodsofInternationalSettlement

Chapter2:

InstrumentsinInternationalSettlement（结算工具）

一．negotiableinstruments定义：

Awrittenpromiseorordersignedbythemakertotransferaspecifiedsumofmoneyondemandoratafixedfuturetimetothepersonnamedontheinstrumentortothebearer.Examplesofnegotiableinstrumentsarepromissorynotes,draftsandcheques.

二．Essentialsofofanegotiableinstrument

✧Beinwriting

✧Besignedbythemakerordrawer

✧Beanunconditionalpromiseorordertopay

✧Stateafixedamountofmoney

✧Bepayableondemandoratadefinitetime

✧Bepayabletoorderortobearer

3．CharacteristicsofNegotiableInstruments

1）Establishingtheclaimforasumcertaininmoney（票据创设了付给一定金额的请求权）

2）Acceptingtheinstrumentswithoutinvestigatingorquestioning（票据是无因证券，不必追究原因的证券）

Oncetheinstrumentisissued,rightsontheinstrumentandreasonswhyinstrumentsarecreatedareseparated，independenttoeachother.（票据一旦做成，票据上权利即与其原因分离，成为独立的票据债权债务关系，不受先前原因关系存在与否的影响）

Example:

AdepositmoneyinB,andAbuysgoodsfromC,thenAissuedaninstrumenttoC,paidbyB;CtransferstheinstrumenttoDbecauseConceborrowedmoneyfromD;AndDtransferstheinstrumenttoEforsomevaluerelationship;EasksBtomakepayment.

3）Theformofinstrumentsshouldkeepupwithlaw.Onlythoseaccordancewithlawcanbeprotected.

4）Instrumentscanbetransferred.

5）Instrumentshastherightofrecourse.（追索权）

四．FunctionsofNegotiableInstruments

1.Actingastransferabletools（汇兑工具）

---Directcashpaymentininternationaltransactionisinconvenient

2.Actingaspaymenttools（支付工具）

-----Substituteformoney,basicfunction

-----Inconvenientforbigdealsinbusiness,andalsorisks

-----Widelyacceptedtotaketheplaceofmoneyincirculation

-----Canbeendorsed（背书）

3.Actingascredittools（信用工具）

-----Corefunctionbecausecreditisthe“life”ofinstrument

5．TypesofNegotiableInstruments

DraftsPromissoryNotesChecks

◆Drafts

（1）定义

Abillofexchangeisanunconditionalorderinwriting,addressedbyonepersontoanother,signedbythepersongivingit,requiringthepersontowhomitisaddressedtopayondemandoratafixedordeterminablefuturetimeasumcertaininmoney,to,ortotheorderof,aspecifiedperson,ortobearer.

Inasimplewords,Abillofexchangeordraftisathree-partyinstrumentthatisanunconditionalwrittenorderbyonepartythatordersthesecondpartytopaymoneytoathirdparty.

汇票是由出票人向另一人签发的要求即期、定期或在可以确定的将来时间向指定人或根据其指令向来人无条件支付一定金额的书面命令。

（2）ElementsofBillofExchange（Draft）

1）Theword“exchange”“billofexchange”or“draft”

2）anunconditionalorderinwriting（无条件书面支付命令）

mustbeinwriting,includingprinted（印刷）andtypewritten（打字机打印）.Oralexpressionisinvalid.

Shouldbeimperative（命令式）,notsubjunctivemood（虚拟语气）.

Withoutanyrestrictionorcondition

注：

如果以某一将来不确定事件---偶发事件---的发生作为付款的先决条件，也同样使汇票无效。

3）threeparties（三个当事人）

“Drawer”–Partywhodrawsthebillsandordersanothertopaythethirdparty.（usuallyexporterorhisbankininternationaltrade）

“

Drawee”（payer）–Partywhoisorderedtopaythethirdparty.（usuallytheimporterortheappointedbankerunderaletterofcreditininternationaltrade）

“Payee”–Thirdpartywhowillreceivepayment（usuallyexporterorhisappointedbankorperson）

4）Tenor（付款期限）

——Demandbill

Demandbill（orsightbill）

-----abillpayableondemand.

-----Thedraweewillberequiredtopayatoncewhenheseesthebillorwhenthebillispresentedtohimforpayment.

Ademandbill（orsightbill）canbeexpressedinthefollowingways:

Ondemandpay….Onpresentationpay….Atsightpay….

——Usancebill

Usancebill

----Payableatafuturetime

----Alsocalledtimebillortermbill

Usancebillisusuallyexpressedinthefollowingways:

---Payableatafixedtimeaftersight

E.g.“Pay30daysaftersight….”means30daysaftertheacceptingdateistheduedatetoeffectpayment.

---Payableatafixedtimeafterdate

E.g.“Pay60daysafterdate….”meanstheduedatewillbe60daysaftertheissuingdate.

----Payableatafixedfuturedate.

E.g.“PayonSept.30,2008….”

----Payableatafixedtimeaftertheoccurrenceofaspecificeventwhichiscertaintohappen

E.g.Pay3monthsaftertheB/Ldate….”

注：

calculatetheduedate

A）Ifabillispayableatafixedtimeaftersight,afterdate