國(guó)際結(jié)算復(fù)習(xí)資料

1、I. True or false1. Without banks participation, modern intl trade payment system would not exist any more T2. The essence of both buyers and sellers concern is whether the counterpart fulfills the contract T3. Intl settlement and trade payment is a theory rather than a practice F4. Intl settlement c

2、an only be used in visible trade FII. What do the following abbreviations stand for?1. ICC 國(guó)際商會(huì)The International Chamber of Commerce 2. FDI Foreign Direct Investment外商直接投資3. FX Foreign Exchange 外匯 4. FAS Free Alongside Ship 船邊交貨條件5. FOB FREE ON BOARD 裝運(yùn)港船上交貨條件6. CIF COST, INSURANCE AND FREIGHT 成本加運(yùn)保

3、費(fèi)交貨條件7. SWIFT The Society For Worldwide Inter-bank Financial Telecommunications(環(huán)球銀行間金融電訊協(xié)會(huì))8. CNY China Yuan 人民幣9. GBP Great Britain Sterling Pound 英鎊10. JPY Japanese yen 日元11. HKD Hong Kong dollar 港幣12. AUD Australian Dollar,澳元13. SGD 新加坡元Singapore dollar14. NZD 新西蘭元New Zealand dollar15. CAD 加拿大元C

4、anada DollarA. Term explanation1. draft a bill of exchange, esp. any bill before it has been accepted, or a bank bill, or a sight bill, or an inland bill. Any written order to pay money2. acceptance act of accepting responsibility for paying the value of a bill)3. guarantee a 3rd party to a draft, t

5、he guarantor, who promises to pay the draft when presented if its a sight draft or to accept when presented and to pay when it is due if its a time draft When it is dishonored by non-payment or non-acceptance, the guarantor becomes reliable for the draft4. protesta formal declaration in writing made

6、 by a notary public, witnessing & recording the dishonor of a draft or promissory note 5. right of recourse the right of the payee or holder of a draft that is dishonored at its maturity to demand payment from the other parties, such as the drawer or an endorser, unless these parties have writte

7、n the words without recourse or sans recours against their signatures.6. presentment a sight draft has to be presented duly for payment;a time draft, has to do so duly for acceptance 1st and to be presented again for payment at maturity 7. paymentperformed when a draft is paid8. notice of dishonor a

8、 written information given to the drawer & each endorser on the next business day after the dishonor of the draft.9. issue 1) to draw and sign a draft;2) to deliver it to the payee, based on the Bills of ExchangeAct After the 2 steps, the draft is irrevocable under the drawers firm promise for t

9、he drawee is to accept and pay for it.10. endorsementan act of negotiation. A payee or the holder of a draft should endorse it 1st if he transfers or passes its title to others; Still, the holder must do so on the back of it before he sells it to the buyer if he sells or discounts it.11. guarantor p

10、erson who guarantees the acceptance and the payment of an instrument12. dishonora failure or refusal to accept a time draft or pay a sight draft when its presented.B. Based on the draft given below, please fill in the blanks with relative numbers in brackets and some other terms:Exchange for GBP 1,2

11、50.00 (1) Beijing, 1 April, 200x At 90 d/s after sight (2) pay to the order of DEF C0. (3) the sum of Pounds one thousand two hundred and fifty only To XYZ Bank London (4) For ABC Co., Beijing (5) (Signature)The draft is an unconditional order in writing addressed by (5_) to (_4_) signed by (_5_) gi

12、ving it requiring (_4_) to whom it is addressed to pay (_2_) the sum of (_1_) to (_3_). The holder of the draft is (_3_) who must firstly present it to (_4_) for _acceptance_. At maturity, the holder must present it for _payment_ . D. Fill in the following blank form to draw a draft with the informa

13、tion given below:Date: 31 Aug., 2005; Amount: USD8,690.64; Tenor: at 30 d/s after sight Drawer: Peter Hardley, London; Payee: John Smith or bearerDrawee: Northern Bank Ltd, London; Exchange for USD_ 8,690.64_ London, 31 Aug, 2005At 30 d/s after sight, pay this 1st draft (2nd of same tenor & date

14、 unpaid) to the order of _ John Smith _or bearer, the Sum of US Dollars _ Eight thousand six hundred ninety _ and 64/100 only.Drawn to Northern Bank Ltd, London Peter Hardley, London (Signature)E. Multiple choices1. If a draft is termed like _, its exact time for payment is to be fixed by the payer

15、after his acceptance. B A. at sight B. at x x d/s after sight C. at x x d/s after date D. at x x d/s after shipment 2. In the following drafts, it is not negotiable if marked with A_. A. Pay to Johnson Co. Ltd only B. Pay to bearerC. Pay to ABC Co. & its order D. Pay to the order of Johnson Co.

16、Ltd3. On the face of a draft, _D_ is to be added to the end of the sum in words to prevent from being alteredA. OK B. end C. enough D. only If a contract for the amount of GBP720,000 was approved for buyers credit up to 85% of the said amount by Bank of Oslo, Norway to BOC, Beijing. After the paymen

17、t, BOC would issue a Promissory note on 1st July, 2005 specifying that it is payable at 3 yrs after the above stated date to the order of BOO the sum of 85% of GBP720,000. Please write a promissory note by filling in the blanks of the following form: Promissory NoteIssued in _ Beijing _ the _1st Jul

18、y _ , 2005. On _1st July _, 2008 fixed, we promise to pay against this promissory note to the order of _ BOO_, Norway the sum of GBP_612，000_(say Pounds six hundred and twelve thousand only),payable only in_ Oslo, Norway _. For and on behalf_BOC, , Beijing _ (Signature)Fill in the following blanks w

19、ith the numbers in brackets: Check for USD3,00.00 (1) Shanghai, May 5, 200x Pay to the order of John Smith (2) the sum of threethousand US dollars. (3) To: Bank of China, Shanghai, China (4) For China ABC Co., Shanghai (5) (signature)The above check is addressed by _5_, the customer to _4_, the bank

20、, authorizing that bank to pay on demand the sum of 1 or 3 _ to _2_.II. True or false?1. Check can be considered as the demand draft drawn on a bank T2. The writer of a check is not allowed to write a check with his signature which doesnt comply with his signature left to a bank in advance. T3. Afte

21、r the acceptance of a time draft, the acceptor becomes the payer as the primary debtor T 4. Travelers check is one of the checks. FFill in blanks with proper words T/T M/T D/DA form of sending a form of payment a form of demand draftcable or telex or order or mail advice SWIFT 2. Examined by test ke

22、y examined by signature examined by signature3. A safe method not so safe as T/T not so safe as T/T4. With _highest_ cost with lower_ cost with lower_ cost5. The fastest and not so often used a useful method of most popular due to its slower_speed remittance & pay able method of remittance by a

23、bank rather than the paying bank Fill in blanks with proper terms:1. 4 parties to a remittance are remitter,remitting bank,paying bank & payee2. Remittance through a bank from one country to another may usu. be made by one of the following methods:M/T, T/T and D/D.True or false1. D/D stands for

24、demand draft T2. Among T/T, M/T & D/D, T/T is the cheapest method of payment F3. SWIFT is the speediest form of payment T4. SWIFT stands for Society for Worldwide Inter-bank Financial Telecommunications TMultiple choice1. SWIFT is _B_. A. in the U.S.A.B. a kind of communications belonging to T/T

25、 system for inter-banks fund transferC. an institution of the UN;D. a government organization2. Mail transfers are sent to the correspondent bank C_, unless otherwise instructed by clients.A. by courier service B. by ordinary mailC. by airmail D. by sea-mail 3. The various methods of settlement all

26、involve the same book keeping, only different at the A .A. method by which the overseas bank is advised about the transferB. method by which the beneficiary is advised about the transferC. the speed D. the beneficiary4. A D payment doesnt take as long as an M/T paymentA. SWIFT B. T/T C. D/D D. A or

27、B Term explanation1. M/Tfunds are transferred against a payment order or a mail advice, or sometimes a debt advice issued by a remitting bank, at the request of the remitter. 2. T/Ta quick way of sending money by cabled bank transfer to a person in another country. The payee can be paid either in ca

28、sh or by credit to his bank a/c. Test key is used to verify its authenticity (whether the cable is true or not).3. D/D a negotiable instrument drawn by a bank on its overseas branch or its correspondent abroad, instructing the latter to pay on demand the stated amount to the holder. 4. reverse remit

29、tancedifferent directions for the way of funds & settlement instruments to be transferred. The movement of draft & proceeds in different direction, with payment asked for by the payee as the exporter initiativelyFill in blanks with proper words or letters:a. The abbreviation for Delivery of

30、documents against payment is D/P. b. The abbreviation for Delivery of documents against acceptance is D/A.c. Collection means the handling by banks of documents in accordance with instructions received in order to 1) obtain payment &/or acceptance or 2) deliver documents against payment &/or

31、 against acceptance. d. Financial documents means bills of exchange, promissory notes, checks. Commercial documents mean invoices, transport documents, documents of title or other similar documents.e. Parties in a collection incl. drawer (or seller), remitting bank, collecting bank (or presenting ba

32、nk), and drawee (or buyer).True or false?1. If the instructions are D/P, the importers bank will release the documents to the importer only against payment. T2. The principal is usu. the importer. F3. Promissory notes are commercial documents. F4. Banks have no liability for any delay or loss caused

33、 by postal or telex failure. T5. In the case of documents payable at sight the presenting bank must make presentation for payment without delay. T6. Goods should not be dispatched direct to the address of a bank or consigned to a bank wi- thout prior agreement on the part of that bank. TTerm explana

34、tion 1) collection obtaining payment of a debt, e.g. a bill of exchange (draft), check, etc. through banks from the debtor 2) clean collection a means of collection settlement in which the seller asks his bank to collect his proceeds from the buyer by presenting the bank a clean draft without shippi

35、ng documents attached. Its contrary to documentary collection, its not accompanied by commercial invoices, such as invoice B/L, etc. 3) documentary collection collection on financial instruments with commercial documents or collection on commercial documents without financial instruments, i.e. the c

36、ollection of a sum due from a buyer by a bank against delivery of certain documents, say, a draft. 4) D/P a means of getting payment for export shipments, by which the exporter or his agent sends the shipping documents to a bank at the port of destination with an order to hand the documents to the b

37、uyer or his agent only when the draft has been paid 5) D/A a means of settlement for the importer to get the documents he needs in order to get possession of the goods after he accepts the draft presented by bankMultiple choice1. parties to a collection involve A A. drawer, remitting bank, collectin

38、g bank, drawee B. drawer, drawee, holder, endorser, C. drawer, endorser, endorsee, payer D. holder in due course, drawer, guarantor, payer2. Ownership of the goods belongs to D before the importer pays or accepts the documentary collection A. payer B. collecting bank, C. shipping company D. drawer3.

39、 Under collection, the payer for the draft should be B A. exporter B. importer C. remitting bank D. collecting bank4. Settlement for collection is based on trade credit because C . A. no banks participate B. commercial draft is drawn C. banks have no obligation to ensure payment5. If drawee refuses

40、to pay when collecting bank presents him the documents, the bank is to C A. ask the payer to explain why B. write “dishonored” on the draft C. Inform the drawer of the dishonor at once D. try to protest the draft 6. The major difference between D/P & D/A lies at that B C . A. D/P belongs to docu

41、mentary collection, while D/A belongs to clean collection B.under D/P,documents are delivered after pay-ment, while under D/A, after acceptance C.under D/P, payment is made at sight, while under D/A, after sight D. under D/P, payment is made after sight, while under D/A, made at sight Briefly answer

42、 the following question:a. What is the difference between D/P & D/A?Delivery at different time: D/P: exporters documents are delivered after importers payment D/A: exporters documents are delivered after importers acceptance Payment at different time:D/P: importer has to pay at sight (sight draf

43、t); D/A: importer may pay after sight ( time one)Seller with different riskD/P: the exporter suffers low riskD/A: the seller possible to loss both goods and proceedsb. Whats collection based on as a form of settlement?Commercial credit and trade creditc. What intl rules should be observed for the bu

44、siness of collection at present? The uniform rules for collections（URC522）、The uniform rules for collections is the internationally recognized codification of rules unifying banking practice regarding collection operations for drafts and for documentary collectionsd. What is the nature of D/A, and t

45、hat of D/P? D/P:not only importer can get goods,but also exporter can get payment in timeD/A: importer may pay after sight,favorable for importer to get the B/L in time,unfavorable for exporter.Both belong to documentory collection.e.How many basic parties concerned are there in collection and who a

46、re they? Four、 drawer、 remitting bank、 collecting bank、 draweef. How many ways are there in collection & what are they? Three、D/P 、 D/A、 acceptance documents against payment Fill in blanks with proper wordsa. Under an irrevocable L/C, the issuing bank must bear the 1st reliability for payment.b.

47、 An irrevocable credit can neither be cancelled nor modified without the agreement of the issuing bank, the confirming bank (if any) & the beneficiaryc. If a credit is issued by BOC, Guangzhou & confirmed by BOC, New York, the payment is ensured by both banks.d. A confirmed credit is favorab

48、le to exporter, but not favorable to importer. e. if an L/C is attached with no transport documents & allows payment to be made only against a draft, its a clean credit.f. Because its too risky on the side of exporter, revocable credit is hardly used in international trade.Who are A. paying bank

49、 B. issuing bank C. reimbursement bank, D. confirming bank E. beneficiary F. advising bank G. negotiating bank H. applicant respectively? (Match work)1. whose obligation is to arrange for an L/C to be opened or issued in favor of the exporter H2. referred to sb. who can benefit from the L/C by its a

50、ssurance of payment to him & this payment term is usu. incorporated in the S/C at the request of the exporter. E3. the bank that issued the documentary credit on behalf of the applicant B4. the bank that has the task of informing the beneficiary that credit has been issued in his favor so that t

51、he beneficiary may make necessary preparation for shipping the goods & drafting the documents stipulated in the credit. F5. The bank that is authorized to pay the beneficiary or accept or negotiate his drafts, against his presentation of proper documents. A6. The bank that buys an exporters draf

52、t submitted to it under a documentary credit G7. The bank that is requested to add its own commitment ( make payment to the beneficiary) to the documentary credit. D8. The bank that, at the request of the issuing bank, is to authorized to pay, or accept and pay time drafts under the L/C CWhat do the

53、 following abbreviations stand for? 1. UCP Uniform Customs and Practice 2. L/C Letter of credit 3. B/L bill of lading4.N/N non-negotiable 5. A/C account 6. H/OHEAD OFFICEMultiple choice1. A is the 1stly reliable payer under an L/C. A. issuing bank B. negotiating bank C. applicant D. advising bank2.

54、The most important thing for a beneficiary of an L/C to examine the L/C is to make sure C . A. the L/Cs authenticity B. the issuing banks authenticity; C. if the terms & conditions of the L/C comply with those in the S/C; D. the political background of the issuing bank3. “strict consistency” in L/C business refers to the consistency betw