lobbying国际结算复习资料

2021年1月20日发(作者：与日俱增)
I. True or false
1.
Without
bank’s
participation,
modern
int’l
trade
payment
system
would
not
exist any more

T

2. The essence of both buyers and sellers concern

is whether the counterpart
fulfills the contract

T

3. Int’l settlement and trade payment is a theory

rather than a practice


F

4. Int’l settlement can only be used in visible
trade
F


II. What do the following abbreviations stand for?
1. ICC




国际商会
The International Chamber of Commerce




2. FDI


Foreign Direct Investment
外商直接投资

3. FX



Foreign Exchange


外汇








4. FAS


Free Alongside Ship

船边交货条件

5. FOB

FREE ON BOARD
装运港船上交货条件

6. CIF


COST, INSURANCE AND FREIGHT
成本加运保费交货条件

7.
SWIFT

The
Society
For
Worldwide
Inter-bank

Telecommunications(
环球银行间金融电讯协会
)

8. CNY


China Yuan
人民币

9. GBP
Great Britain Sterling Pound
英镑

10. JPY

Japanese yen
日元

11. HKD

Hong Kong dollar

港币

12. AUD
Australian Dollar,
澳元

13. SGD


新加坡元
Singapore dollar

14. NZD


新西兰元
New Zealand dollar

15. CAD


加拿大元
Canada Dollar


Financial

A. Term explanation
1. 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 money
2. acceptance

act of accepting responsibility for paying the value of a bill)
3. guarantee

a
3rd
party
to
a
draft,
the
guarantor,
who
promises
to
pay
the
draft
when
presented if it’s a sight draft or to accept when presented and to pay when
it is
due
if
it’s
a
time
draft
When
it
is
dishonored
by
non-payment
or

non-acceptance, the guarantor becomes reliable for the draft
4. protest
a formal declaration in writing made 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 written 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 1
st
and to be presented again for payment at maturity

7. payment
performed when a draft is paid
8. notice of dishonor


a 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 Exchange
Act After the 2 steps, the draft is irrevocable under
the drawer’s fir
m promise
for the drawee is to accept and pay for it.
10. endorsement
an 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


person who guarantees the acceptance and the payment of an instrument
12. dishonor
a
failure
or
refusal
to
accept
a
time
draft
or
pay
a
sight
draft
when
it’s
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 1,250.00 (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_)
giving 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
information 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 bearer
Drawee: Northern Bank Ltd, London;


Exchange for USD
_ 8,690.64_
London,
31 Aug, 2005
At 30 d/s after sight, pay this 1st draft (2nd of same tenor

& date 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 choices

1. If a draft is termed like __, its exact time for payment is to be fixed by the payer 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 bearer
C. Pay to ABC Co. & its order


D. Pay to the order of Johnson Co. Ltd
3.

On the face of a draft,
_D_
is to be added to the

end of the sum in words to prevent
from being

altered
A.

OK

B. end

C. enough

D. only






If a contract for the amount of GBP720,000 was
approved for buyer’s credit up to
85% of the said amount by Bank of Oslo, Norway to BOC, Beijing. After the
payment, 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 Note
Issued in
_
Beijing
_
__ the
_
1st July
_
_ , 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 with 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 three
thousand 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, 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

T
2.
The
writer
of
a
check
is
not
allowed
to
write
a
check
w
ith
his
signature
which
doesn’t







comply

with his signature left to a bank in advance.
T
3. After the acceptance of a time draft, the acceptor becomes the payer as the primary debtor

T




4. Traveler’s check is one of the checks.

F





Fill in blanks with proper words



T
/
T





M
/
T




D
/
D
A form of sending














a form of payment











a form of demand draft
cable or
telex
or

















order or mail advice

























SWIFT




























2. Examined by test key








examined by
signature











examined by
signature

3. A safe method















not so safe as
T/T
















not so safe as
T/T


4. With
_highest_
_ cost










with
lower_
cost

















with
lower_
cost

5. The fastest and

















not so often used











a useful method of



most popular















due to its
slower_s
peed








remittance

& pay able


method of remittance




































by a bank rather than the

















































































paying bank
































































Fill in blanks with proper terms:
1. 4 parties to a remittance are

remitter,remitting bank,paying bank & payee
2. 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 false
1.


D/D stands for demand draft


T
2.

Among T/T, M/T & D/D, T/T is the cheapest method of payment


F
3.


SWIFT is the speediest form of payment


T
4.


SWIFT stands for Society for Worldwide Inter-bank Financial Telecommunications


T
Multiple choice
1. SWIFT is ___
____B______
______________.





A. in the U.S.A.
B. a kind of communications belonging to T/T system for inter-
bank’s fund transfer

C. an institution of the UN;
D. a government organization
2.

Mail transfers are sent to the correspondent bank
C_,


unless otherwise instructed by





clients.
A. by courier service








B. by ordinary mail
C. by airmail















D. by sea-mail

3. The various methods of settlement all involve the same book keeping, only different at the

A

.

A. method by which the overseas bank is advised about the transfer
B. method by which the beneficiary is advised about the transfer
C. the speed


























D. the beneficiary
4. A
D

payment doesn’t take as long as an M/T
payment
A. SWIFT

B. T/T


C. D/D


D. A or B



Term explanation
1. M/T
funds
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/T
a quick way of sending money by cabled bank transfer to a person in another country. The
payee can be paid either in cash 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 remittance
different 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 initiatively

Fill in blanks with proper words or letters:
a. The abbreviation for
Delivery of 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 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
bank), and
drawee
(or buyer).
True or false?
1. If the instructions are D/P
, the importer’s bank
will release the documents to the importer
only against payment.

T
2. The principal is usu. the importer.


F
3. Promissory notes are commercial documents.


F
4. Banks have no liability for any delay or loss caused by postal or telex failure.

T
5. In the case of documents payable at sight the presenting bank must make presentation for







payment without delay.

T
6. 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.

T



Term explanation





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 shipping documents attached. It’s contrary to
documentary collection, it’s not accompanied by commercial invoices, s
uch 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 collection 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 buyer 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 bank
Multiple choice
1. parties to a collection involve
A





A. drawer, remitting bank, collecting bank, drawee



B. drawer, drawee, holder, endorser,



C. drawer, endorser, endorsee, payer


D. holder in due course, drawer, guarantor, payer
2.
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. drawer
3. Under collection, the payer for the draft should be

B








A. exporter














B. importer






C. remitting bank









D. collecting bank
4. 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 payment
5. If drawee refuses 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 documentary collection, while D/A belongs to clean collection






D/P
,documents
are
delivered
after
pay-ment,
while
under
D/A,
after

















acceptance


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 the following question:

a. What is the difference between D/P & D/A?
Delivery at different time:



D/P: exporter
’
s documents are delivered after importer
’
s payment



D/A: exporter
’
s documents are delivered after importer
’
s acceptance

Payment at different time:
D/P: importer has to pay at sight

(sight draft);

D/A: importer may pay after sight ( time one)
Seller with different risk
D/P: the exporter suffers low risk
D/A: the seller possible to loss both goods and proceeds

b.
What’s collection based on as a form of
settlement?
Commercial credit and trade credit

c.
What int’l rules should be observed for the
business 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 collections

d. What is the nature of D/A, and that of D/P?


D/P:not only importer can get goods,but also exporter can get payment in time
D/A: importer may pay after sight,favorable for importer to get the B/L in time,unfavorable
for exporter.
Both belong to documentory collection.




many basic parties concerned are there in collection and who are they?



Four
、


drawer
、

remitting bank
、

collecting bank
、

drawee

f. How many ways are there in collection & what are they?







Three
、
D/P
、

D/A
、

acceptance documents against payment


Fill in blanks with proper words
a. Under an irrevocable L/C, the
issuing

bank must bear the 1st reliability for payment.
b. An irrevocable credit can neither be
cancelled
nor
modified
without the agreement of the








issuing bank, the confirming bank (if any) & the
beneficiary
c.

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 favorable 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, it’s a
clean
credit.
f.

Because
it’s
too
risky
on
the
side
of
exporter,
revocable
credit
is
hardly
used
in


international trade.


Who are



A. paying bank








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

H
2. referred to sb. who can benefit from the L/C by its assurance of payment to him & this

















payment term is usu. incorporated in the S/C at the request of the exporter.



E
3. the bank that issued the documentary credit on behalf of the applicant



B
4. the bank that has the task of informing the beneficiary that credit has been issued in his favor
so that the beneficiary may make necessary preparation for shipping the goods & drafting the
documents stipulated in the credit.



F

5. The bank that is authorized to pay the beneficiary or accept or negotiate his drafts, against his
presentation of proper documents.


A
6. The bank that buys an exporter’s draft
submitted to it under a documentary credit


G
7. The bank that is requested to add its own commitment ( make payment to the beneficiary) to
the documentary credit.



D

8. 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


C

What do the following abbreviations stand for?

1. UCP

Uniform Customs and Practice

2. L/C

Letter of credit