1、International SettlementWangshuChapter One IntroductionvConcept vCategory vEvolutionvPlayers and theirs rolesvFactors in payment decisionsvCharacteristics and developing trendvCorrespondent banking relationshipthe financial activities conducted among different countries in which payments are effecte
2、d or funds are transferred from one country to another in order to settle claims and debts,emerged in the course of political ,economic or cultural contacts among them.Meaning of International SettlementqNegotiable intsruments(票据 ): bills of exchange, promissory notes, checksqPayment techniques: rem
3、ittances,collections, letters of credit, bank guarantees, international factoring and forfaitingqDocuments: bills of lading,insurance policies, certificates of origin, etc Trade settlement: payments for visible trades Non-trade settlement:1、 invisible trade settlement：payments for services, technolo
4、gy transfer, patents and copyright contracts, etc 2、 financial transaction settlement：buying and selling of financial assets, overseas money-raising and investing3、 payments between governments： aids and grants4、 others: overseas remittances, inheritances, etcCategory of international settlement Fro
5、m cash settlement to non-cash settlement From goods trading to documents trading From direct payment between traders to payment effected through a financial intermediarysafety, high efficiency, low cost, standardization Electronic settlementSWIFT CHIPS CHAPS FEDWIRE TARGETEvolution of international
6、settlementSWIFT(Society for worldwide interbank financial telecommunication)环球同业银行金融电讯协会 特点 :标准化 ;安全可靠 ,自动加核密押 ;高速度 ,低费用 .业务分类 :客户汇款 (customer transfer);银行头寸调拨(bank transfer);外汇业务 (foreign exchange confirmations);托收业务 (collections);证券业务(securities);贵金属和银团贷款业务 (precious metals and syndication);信用证和保函
7、 (documentary credits and guarantees);旅行支票 (travelers cheques);银行帐单处理业务 (statements). Exporterto get prompt payment; minimize non-payment risks Importerto receive goods as ordered; pay as late as possible Financial intermediaryto maximize revenues; credit risks associated with financing extended to
8、buyers or sellersPlayers and their rolesTo exporters:v protection against non-payment risks by the importers, such as:commercial risks, financial risks; political risks; risks in control of title to the goods,etc.v convenience; v cost; v commercial competitivenessFactors in the payment decision1. th
9、e scale and scope of international settlement get greater and greater2. International lending and financing is closely combined with international payments3. On the basis of international customs and practice4. International guarantees applied to international settlement5. More diversified vehicle c
10、urrencies 6. The proportion of commercial credit in international settlement gets bigger7. A much facilitated international banking network connected with electronic telecommunicationCharacteristics and developing trend Correspondent bank 代理行the basis for cooperation of commercial banks all over the
11、 world to fulfill international settlement“a bank having direct connection or friendly service relations with another bank.” Selecting a correspondent bank:reputation and creditworthiness; size and financial status; location; services offered by it; polices and strength of itCorrespondent banking re
12、lationshipThe establishment of a correspondent bankCorrespondent arrangementControl documents控制文件Specimen of authorized signatures授权签字样本Telegraphic test key/SWIFT authentic key 密押Schedule of terms and conditions费率表Chapter two Negotiable instruments General introduction Bill of Exchange/Draft Promiss
13、ory Note Check What is a negotiable instrument? Forms of circulation Characteristics of negotiable instruments Functions of negotiable instruments Parties to a negotiable instrument Title to a negotiable instrument Negotiable instrument lawsGeneral introduction in a broad sense, a negotiable instrum
14、ent refers to any commercial title ownership. in a narrow sense, a negotiable instrument is a written document that contains an unconditional promise by the drawer to pay the payee or an unconditional order by the drawer to the drawee to pay the payee a fixed amount of money at a definite time meani
15、ng of negotiable instruments 过户转让（ assignment） 非流通 特点：书面形式转让通知原债务人或登记过户受 让 人 权 利受前手缺陷 的影响 当事人：转让人、受让人、原始债务人 交付转让 (transfer) 准流通或半流通特点： 交付背书转让不通知原债务人受让人的权利受前手权利缺陷的影响 当事人： 转让人，受让人 流通转让 (negotiation) 完全流通特点： 正当受让人权利优于前手，不受其缺陷的影响 forms of circulation举例说明：甲欠乙 100元而出具以乙为债权人的字据给乙，让其凭字据找丙去取，同时乙原来曾欠丙 30元未还，随
16、后乙将此字据又转让给丁。问丁能否从丙处获得全额款项？如是字据，按民法原则，丙可采取将其对乙的 30元债权转让给丁的办法来冲抵而只需付 70如是票据，按票据法原则，必须全额付款，而不能用乙的权利缺陷来对抗丁的正当票据权利 Negotiability Non-causative Requisite in form Literally determined content Presenting for paymentCharacteristics of negotiable instruments案例分析1997年 8月，某市 A公司与新加坡 B商签订了一份进口胶合板的合同。合同总金额为 700万美
17、元，支付方式为付款交单，允许分批装运。第一批价值为 60万美元的胶合板准时到货，质量良好，对双方合作很满意。就在第二批交货期来临之际， B商向 A公司提出：鉴于贵公司资金周转困难，为了帮助贵方，我方允许贵公司采取远期付款。 贵公司作为买方，可以给我方开出一张见票后一年付款 700万美元的汇票，请中国人民建设银行某市分行承兑。承兑后，我方保证将 700万美元的胶合板在一年内交货。贵方全部收货后，再付给我方 700万美元的货款。 A公司以为现在不付款，只开张远期票据就可得到货物在国内市场销售，于是欣然接受了 B商的建议，给 B商签发了一张见票后一年付款 700万美元的汇票。但 A公司始料不及的是，
18、 B商将这张承兑了的远期票据在新加坡的美国银行贴现 600万美元。从此却一张胶合板都不交给 A公司。事实上， B商将这笔巨款骗到手后便无影无踪了。一年后，新加坡的美国银行持这张承兑了的远期票据请建行某市分行付款。尽管 B商没有交货，某市分行却不得以此为理由拒绝向善意持票人美国银行支付票据金额。最后，由于本案金额巨大，报请国务院批准，由建行某市分行付给美国银行600万美元而结案。 对于这张远期票据， A公司为出票人， B商为收款人，建行某市分行为付款人。 A公司与 B商之间的胶合板买卖合同是该票据的原因关系，使得 A公司愿意向 B商开立这张汇票。 A公司曾经向建行某市分行提供了资金，它们之间的这
19、种资金关系使得建行某市分行愿意向 A公司提供信用，承兑了这张远期汇票。美国银行与 B商之间有对价关系，美国银行善意地付了 600万美元的对价而受让，从而成为这张汇票的善意持票人。但票据的最大特点就是，票据法律关系一经形成，即与基础关系相分离。票据基础关系的存在和有效与否并不对善意持票人的票据权利而产生影响。所以， B商实际上没有交货，或者 A公司并没有足够的美元存在建行，都不影响美国银行对承兑人的付款请求权。对美国银行来说，这张票据上并没有写胶合板，只有一句话： “ 见票后一年付 700万美元 ” 。票据法律关系应依票据法的规定加以解决，票据基础关系则应以民法规定加以解决。 B商正是利用了票据
20、的特性才行骗得逞的。举例： 甲交给乙一张经付款银行承兑的期票，作为向乙订货的预付款，乙在票据上背书后转让给丙以偿还原欠丙的借款，丙于到期日向承兑银行提示取款，恰遇当地法院公告该行于当天起进行破产清理，因而被退票。丙随即向甲追索，甲以乙所交货物质次为由予以拒绝，并称已于 10天前通知银行止付，止付通知及止付理由也已通知了乙。在此情况下丙再向乙追索。乙以票据系甲开立为由推诿不理。丙遂向法院起诉，被告为甲、乙与银行三方。你认为法院将如何判决？ 甲、乙的拒付理由不成立，银行已破产清理，只需向甲、乙追索即可。 支付工具 payment instrument 流通工具 transferable instr
21、ument 信用工具 credit instrument 融资工具 financing instrumentFunctions of negotiable instrument 出票人 drawer 付款人 payer/drawee 收款人 payee 背书人 endorser 承兑人 acceptor 持票人 holder Parties to a negotiable instrument正当持票人 /善意的持票人（ holder in due course/bona fide holder）：The instrument should be complete and regular on
22、 its face;The instrument is before maturity and the holder did not notice its previous dishonor, if any;The holder took it in good faith and for value;The holder did not notice any infirmity in the instrument or defect in the title of the person negotiating it付对价持票人 holder for value :a person who po
23、ssesses an instrument for which value has been given by himself or by some other person prior to him in forms of money, goods,or services.A C D EBDrew a draft on BEndorsed and lost itPicked it up and transferred it to E for valueAccepted the draft FGave it as a present Claim for payment(第一次请求权，主权利 )
24、 Recourse (第二次请求权 ) Only when the claim of holder for payment cant be satisfied, can recourse right be effected.Titles to a negotiable instrument British law UK Bills of Exchange Act of 1882 US Uniform Commercial Code of 1962, Article 3 French and German law Uniform law for Bills of Exchange and Pro
25、missory Notes of Geneva of 1930 Convention Providing a Uniform Law for International Bills of Exchange and International Promissory Notes and Convention Providing a Uniform law for International Checks United Nations 1988 Negotiable Instrument Law of Peoples Republic of ChinaNegotiable instrument la
26、ws Concept Essential items required in a bill of exchange Acts relating to a bill of exchange Classification of bills of exchange Practice of bills of exchange Bill of exchange section 3, bill of exchange act, 1882,UKA Bill of exchange is an unconditional order in writing, addressed by one person to
27、 another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or the order of a specified person or to bearer.definitionv汇票是由一个人（ drawer）v向另一个人签发的 (drawee)/受票人v无条件的 unconditonalv书面命令 order in writingv要求其在见票时或在未来某一规定的或可以确定的时间 (tenor)v将一定金额的款项支付给某一特定的人或指定的人，或持票人 (payee)
