1、InternationalSettlement试卷BIChoosetheBestAnswerforEachQuestion.(10%)1. Totheimporter,themostfavorablemethodofsettlementis().A.letterofcreditB.openaccountC.cashinadvanceD.collection2. Internationalcashsettlementhasthefollowingdisadvantagesexcept().A.expensiveB.riskyC.safeD.time-consuming3. CHAPSisthee
2、lectronicclearingsystemfor().A.GBPB.USDC.CNYD.EUR4. FromaChinesebank,spointofview,thecurrentaccountmaintainedbyaforeignbankwithhimisknownas().A.anostroaccountB.avostroaccountC.acurrentaccountD.aforeigncurrencyaccount5. Documentarycreditbusinessissubjectto().A.UCP600B.URC522C.URDG758D.ISP986. Thebill
3、whichmustbepresentedforacceptanceis().A.thebillpayableatxxdaysafterdateB.thebillpayablexxdaysaftersightC.thebillpayableonafixeddateD.thebillpayableatsight7. Itwillbemoreconvenientifthecollectingbankappointedbytheseller().A.isalargebankB.istheremittingbank,scorrespondentintheplaceoftheimporterC.isint
4、heexporter9scountryD.actsontheimporter9sinstructions8. UnderDA,thedocumentswillnotbedeliveredtothebuyeruntil().A.thegoodshavearrivedB.thedocumentshavearrivedC.thedocumentsarepresentedtothebuyerD.thebillisacceptedbythebuyer9. OfthefollowingkindsofL/C,()istheL/Cwhichrequiresnodraftsatall.A.sightpaymen
5、tcreditB.deferredpaymentcreditC.acceptancecreditD.negotiationcredit10. Underletterofcredit,theprimarydebtoristhe().A.applicantB.importerC.issuingbankD.nominatedbankIITrueorFalse.(10%)11. Theactwhichisneverinvolvedinpromissorynotebusinessisacceptanceo12. Theacceptorofabillisthepersonwhooriginallyname
6、dasthedraweeofthebill.13. T/Tisnotamethodofremittance.14. Openaccountasapaymentmethodisusuallyusedwhengoodsaresoldunderthebuyer,smarketcondition.15. Itwillbemoreconvenientifthecollectingbankappointedbytheselleristheremittingbank,scorrespondentintheplaceoftheimporter.16. UnderDP,thedocumentswillnotbe
7、deliveredtothebuyeruntilthegoodshavearrived.17. Abillofexchangewhichisaccompaniedbyshippingdocumentsisknownasacleanbill.18. Indocumentarycollection,afterthegoodshavebeenshipped,theexporterpresentsthedocumentstothecollectingbankforcollection.19. Incollectionbusiness,thedrawerofthedraftforcollectionis
8、thebuyer.20. Incollectionbusiness,thedraweeofthedraftforcollectionisthebuyer.IllExplainthefollowingconcepts.(18%)21. SWIFT22. URC52223. Internationalfactoring24. present25. standbyL/C26. chequeIVAnswerthefollowingquestions(20%)27. Whatarethepotentialactsrelatedtothedraft(orwhatarethepotentialstepsfo
9、rthecirculationofthedraft?)28. DescribethegeneralprocedureofT/Twithafigureorgraph.Besides,someadditionalexplanationforthefigure/graphisnecessary.VCaseStudy(20%)29. Whatisforeignexchangerisk?Pleaselistthemethods(atleastsixkinds)toavoidtheforeignexchangerisks.AnexportcompanyinChinausedtoexportreddates
10、toBrazil.TheL/CestablishedbythebankinBrazildescribesthegoodsasGrade2Soybeans.Atthemoment,“Grade2Soybeanswereoutofstock.TheexporterdecidedtoshipGrade,insteadof“Grade2tomeetthedemandofthemarket.OntheinvoicemarkedGrade1Soybeans,priceasperGrade2”.Thebeneficiaryhadthoughtthattheimporterwouldnotshowanyobj
11、ectionaboutthis.Sodidthenegotiatingbank.However,onthecontrary,boththeopeningbankandtheimporterrefusedtomakethepayment.Whatwasmore,theimporterevendemandedcompensationforthelosscausedbytheexporter,sfailuretoshipaccordingtotheagreedspecification.WhatcanweIeamfromthiscase?VIPractice(22%)30. Readthefollo
12、wingL/Candanswerthefollowingquestions(1) Whatarethecharacteristicsofthiscredit?(atleastfour)(4%)(2) Listthenameofthefollowingarties:openingbank,advisingbank,beneficiary,applicant.(2%)(3) Whatarethedateoftheissuance,expirydate,timeofshipmentandthetimeforthepresentationofthedocuments?(4%)(4) Listthege
13、neralinformationontheshipment.(4%)(5) Whatkindofdocumentsarerequiredunderthiscreditandhowmuchofthemarerequiredrespectively?(4%)(6) SupposetheexporterdeliveredallthegoodsonboardthevesselonAug.IOth.,then:（八）Whenshouldtheexporterissuedtheinvoice;(b)Whenshouldtheexporterclearthegoodsforexport?(c)Whensho
14、uldtheexporterdrawthedraft;(d)Whenshouldtheexporterpresentthedocumentstothenegotiatingbankfornegotiation?(4%)SampleLetterofCreditIssueofaDocumentaryCreditBKCHCNBJA08ESESSION:000ISN:000000EBBANK,VIETNAMDestinationBank:BANKOFCHINATAIZHOUBRANCHTypeofDocumentaryCreditIRREVOCABLELetterofCreditNumberLC06E
15、008117DateofIssue060628DateandPlaceofExpiry31D060930VIETNAMApplicant:MINEXPORTSAIGON35-37BENCHUONGDUONGST.,DIST.1HOCHIMINHCITY,VIETNAMBeneficiary:/1207047109045731923TAIZHOUJIADELIDOORMACHINECO.,LTD,NO.188,NORTHERNDAXIroad,daxitown,wenlingcity,zhejiangprovince,china31. Currencycode,amount:USD7380.00
16、AvailableWithBy:ANYBANKINCHINABYNEGOTIATIONDraftsat:SIGHTFOR100POTOFINVOICEvalueDrawee:EBBANKVIETNAMEXPORTIMPORTCOMMERCIALJOMOCHIMINHCITY,VIETNAMPartialShipments:NOTALLOWEDTransshipment:ALLOWEDLoadingonBoard/Dispatch/TakinginChargeat/Form:ANYCHINESEPORTLatestDateofshipment：060820DescriptionofGoodsan
17、d/orservices:1.NAMEOFGOODS:ELECTRICROLLINGDOORMACHINE(FULLSET);2.QUANTITY:100SETS;3.UNITPRICE:USD73.80SETCIFTANCANG,HOCHINHCITY,VIETNAM(INCOTERMS2000);4.AMOUNT:USD7,380.00;5.ORIGIN:MADEINCHINA;6.QUALITY:BRANDNEWANDINGOODWORKINGCONDITION;7.PACKING:EACHSETISPACKEDINTOONECARTONBOX;8.MARKINGIENANH,VIETN
18、AMDocumentsRequired:THEFOLLOWINGDOCUMENTSINENGLISH:1.SIGNEDCOMMERCIALINVOICEIN03ORIGINALSANDOlPHOTOCOPY2.FULLSET(33)ORIGINALSAND01PHOTOSHOPOFSIGNEDCLEANSHIPPEDONBOARDOCEANBILLLOFLADINGMADEOUTTOORDEROFVIETNAMEXIMBANKMARKEDFREIGHTPREPAIDANDNOTIFYTHEAPPLICANT,ADDRESSANDTELEPHONENBROFSHIPPINGAGENTINHOCH
19、IMINHCITYANDL/CNBRMUSTBEINDICATEDINB/L3.CERTIFCATEDOFQUANTITYANDQUALITYISSUEDBYTHESELLERIN02ORIGINALS(FULLNAMEOFGOODSSTATED)4.CERTIFICATEDOFORIGINISSUEDBYCHINACHAMEROFCOMMERCEONORBEFOREBILLOFLADINGDATEIN01ORIGINAND02COPIES5.SIGNEDDETAILEDPACKINGLISTIN03ORIGINALSAND01PHOTOCOPY.6.COPYOFFAXADVISINGAPPL
20、ICANTDATED,VESSELNAME,Quantityofgoods,packingdetails,contractno,nameofCOMMODITY.INVvalue,L/CNBR,LOADINGPORT5ETAHOCHINMINHCITYPORT.7.INSURANCECOVEREDBYSELLERINSURANCEPOLICY/CERTIFICATEIN02ORIGINALSCOVERINGALLRISKSFORIlOPOTOFINVOICEvalueBLANKENDORSEDINDICATIONSCLAIMPAYBLEBYBAOVIETINHOCHIMINHCITY,VIETN
21、AM.ChargeALLBANKINGCHARGESOUTSIDEVIETNAMINCLUDINGadvising,Negotiating5ReimbursingcommisionNamendmentCHARGESATBEN,SACC.ADVISING/AMENDMENTCHARGESTOBECOLLECTEDBEFORERELEASEOFL/C/AMENDMENTPeriodforpresentation：DOCUMENTSMUSTBEPRESENTEDWITHIN21DAYSAFTERSHIPMENTDATEConfirmationinstructionsWITHOUTInstructio
22、nstothepayingacceptingInternationalSettlement试卷B参考答案及评分标准I ChoosetheBestAnswerforEachQuestion.(10%)1-5BBABA6-10BBDBC每题1分II TrueorFalse.(10%)11-15TTTTT16-20FFFFF每题1分III Explainthefollowingconcepts.(18%)21.SWIFTAnswer:ThefullnameofSWIFTisSocietyforWorldwideInterbankFinancialTelecommunication.Itisanon-
23、profitandcooperativeorganizationwhichwasestablishedinBrusselsin1973.Itstartedtoestablishcommonstandardsforfinancialtransactionsandashareddataprocessingsystemandworldwidecommunicationsnetwork.Fundamentaloperatingprocedures,rulesforliability,etc.-3分22.URC522Answer:Astothecollection,InternationalChambe
24、rofCommerce(ICC)hasenactedtherelevantcustoms:UniformRulesforCollection(URCinshort).Nowadays,thelatesteditionwhichwasrevisedin1995.Becauseitwasjustthe522ndpublicationoftheICC,itisnamedURC522inshort.-3分23.InternationalfactoringAnswer:InternationalFactoring,alsoknownastheacquisitionofaccountsreceivable
25、referstothatexporterssellgoodsintheformofcommercialcreditandthenreceiveallorpartofloanbysellinginvoices,billsofexchange,billsofladingandotherrelevantdocumentstofactoringorganizationsorspecializedfinancialcompaniesimmediatelyaftershipment,soastoobtainfinancialservices.Itisaformofshort-termcreditforf
26、oreigntrade.-3分24.PresentAnswer:Topresentmeansthattheholdershouldpresentthenegotiableinstrumenttothepayeronitsmaturitywhenhewantsittobepaid.Otherwise,thepayermayneglectit.Forexample,thesightdraftshouldbepresentedwithinonemonthtothepayerforpaymentaccordingtoNegotiableInstrumentLawofChina.-3分25.standb
27、yL/CAnswer:StandbyL/C,alsoknownastheguaranteeL/C,referstothekindofcreditthatdoesnotpaythepriceofgoodsbutaimsatloanfinancing,orguaranteeingdebtrepayment.-3分26.chequeAnswer:Acheckisaunconditionalorderinwritingdrawnonabanksignedbythedrawer,requiringthebanktopayondemandasumcertaininmoneytoortheOderofasp
28、ecifiedpersonortobearer.)-3分IVAnswerthefollowingquestions(20%)27. Answer:(1) Todraw；(2)Topresent;(3)Topay;(4)Toaccept;(5)Todishonor;(6)Toendorse;(7)Torecourse;(8)Todiscount答对6个或6个以上给10分，少于6个时每少1个扣2分，最多扣8分；不答不得分28. Answer:(1) TheremitterfillsintheM/Tapplicationform(SeeAppendixII),presentstheproceedsa
29、ndpaythecommissionforremittancetotheremittingbank;(2) Uponreceipttheapplicationform,theproceedsandthecommission,theremittingbankoffersareceipttotheremitter;(3) Theremittingbanksendsapaymentorderoradvicetothepayingbankbycableortelegraph,entrustingthelattertopaytothepayeeorbeneficiary;(4) Uponreceiptt
30、hePOandauthenticatingthesignature,thepayingbanknotifiesthepayeeinthePO;(5) Thepayeeissuesareceipttothepayingbank;(6) Thepayingbankmakespaymenttothepayee;(7) Thepayingbanksendsthedebitadviceandthepaymentreceiptfromthepayeetotheremittingbank.5分Figure3.1GeneralProceduresforT/T5分VCaseStudy(20%)29. Answe
31、r:(1) Foreignexchangerisk-alsocalledFXrisk,currencyrisk,orexchangeraterisk-isthefinancialriskofaninvestmentsvaluechangingduetothechangesincurrencyexchangerates.Thisalsoreferstotheriskaninvestorfaceswhenheneedstocloseoutalongorshortpositioninaforeigncurrencyataloss,duetoanadversemovementinexchangerat
32、es.4分(2) Howcanafirmminimizeitoravoidit?-bartertrade- spotExchangeTransactions- forwardExchangeTransactions- hedging- option- foreignexchangefuturestransaction- topayorcollectbylocalcurrency- parallelloans- swaptransaction- leadsandlags- earlywarningofforeignexchange6分，答对6个或6个以上得6分，少于6个时，每少1个扣1分，最多扣
33、6分30. Answer:(1)AccordingtoUCP600,theopeningbankwillpayonlywhenthedocumentspresentedbythebeneficiarycomplywiththeL/C,hewillmakepayment.However,inthiscase,thesellerhasdeliveredsomegoodsofGrade1insteadofGradeI,eventhoughthequalityofGrade1isbetterthanGrade2,however,theinvoiceshowsthat“Grade1Soybeans,pr
34、iceasperGrade2”.Itisofnonconformitybetweendocumentsandtermsofthecredif,.Sotheopeningbankcanrefusetomakepayment.Sodoesthebuyer.5分Fromthiscase,thesellermayIeamsomelessonsfromitsuchas：first,todeliverthegoodsstrictlyaccordingtotheL/C;second,ifthesellercannotdeliverthegoodsaccordingtotheL/C,hecanonlybeal
35、lowedtodeliverthegoodswhentheL/Chasbeenrevisedbytheapplicant(theimporter).5分VIPractice(22%)Answer:(1) Whatarethecharacteristicsofthiscredit?(atleastfour)(4%)Answer:SWIFT;documentary;negotiation;sight;non-confirmed答对4个或4个以上得4分，少于4个时每少1个扣1分，不答不得分(2) Listthenameofthefollowingarties:openingbank,advising
36、bank,beneficiary,applicant.(2%)Answer:openingbank:EBBANKadvisingbank:BANKofChina,TaizhouBranchbeneficiary:TAIZHOUJIADELIDOORMACHINECO.,LTD.applicant:MINEXPORTSAIGON每个0.5分(3) Whatarethedatesoftheissuance,expirydate,timeofshipmentandthetimeforthepresentationofthedocuments?(4%)Answer:thedatesoftheissua
37、nce:June28,2006expirydate:Sep.30,2006timeofshipment:notlaterthanAug.20th,2006thetimeforthepresentationofthedocuments:DOCUMENTSMUSTBEPRESENTEDWITHIN21DAYSAFTERSHIPMENTDATE每个1分(4) Listthegeneralinformationontheshipment.(4%)Answer:PartialShipments:NOTALLOWEDTransshipment:ALLOWEDLoadingonBoard/Dispatch/
38、TakinginChargeat/Form:ANYCHINESEPORTLatestDateofshipment：notlaterthanAug.20th,2006每个1分(5) Whatkindofdocumentsarerequiredunderthiscreditandhowmuchofthemarerequiredrespectively?(4%)Answer:Commercialinvoice:in3originalsand1copyB/L:in3originalCertifcatedofQuantityandquality：i112copiesCERTIFICATEDOFORIGI
39、N:in1ORIGINand2COPIESPACKINGLIST:in3ORIGINALSand1PHOTOCOPYBeneficiarycertificate:inICOPYNSURANCEpolicy:in1copyDraft:in2originals每个0.5分(6) SupposetheexporterdeliveredallthegoodsonboardthevesselonAug.IOth.,then:（八）Whenshouldtheexporterissuedtheinvoice;(b)Whenshouldtheexporterclearthegoodsforexport?(c)Whenshouldtheexporterdrawthedraft;(d)Whenshouldtheexporterpresentthedocumentstothenegotiatingbankfornegotiation?(4%)Answer:(a) notlaterthanAug.lOth,2006(b) atleastnotlaterthanAug.9th,2006(c) notlaterthanAug.lOth,2006(d) notlaterthanAug.25th,2006每个1分
