Content 1
Chapter 1 Introduction 1
1.1 Definition and Implications of International Trade Payment 1
1.2 Key Issues in International Payment 2
1.2.1 Who Bears the Credit Risk? 3
1.2.2 What Will Be the Transaction Costs of Payment? 3
1.2.3 What Will Be the Supervision Mechanism of Performance? 4
1.2.4 What Are the Roles of Banking in the International Trade Payment? 6
1.3 The Purpose of Leaming This Course 8
1.4 Prospect of International Trade Payment 8
Exercises 11
Chapter 2 Incoterms 1990 13
2.1 Incoterms 1990 and ICC 13
2.1.1 Purpose of Incoterms 13
2.1.3 Statement of Customs Clearance 14
2.1.2 The Classification of Incoterms 1990 14
2.2 Interpretation of Incoterms 1990 15
Exercises 20
Chapter 3 Remittance 22
3.1 Parties to a Remittance 22
3.2 Type of Remittance 22
3.2.1 Telegraphic Transfer(T/T) 23
3.2.2 Mail Transfer(M/T) 24
3.2.3 Demand Draft(D/D) 25
3.3 Reimbursement of the Remittance Cover 26
3.4 International Transferring and Clearing System 27
3.4.1 Clearing Principles 27
3.4.2 World Leading Payment and Clearing Systems 29
3.5 Laws,Rules and Uniform Customs Relating to International Trade Payment 32
Exercises 35
4.1 Outline of Instruments 38
Chapter 4 Instrument 38
4.1.1 Negotiation 39
4.1.2 Semi-negotiation 40
4.1.3 Assignment 40
4.2 Currency 41
4.3 Bills of Exchange 41
4.3.1 Parties to a Bill of Exchange 42
4.3.2 Key Elements of a Bill of Exchange 43
4.3.3 Classification of Bill of Exchange 43
4.4 Legal Acts on Instruments 44
4.5 Promissory Notes 48
4.5.1 Essentials to a Promissory Note 49
4.5.2 Classification of Promissory Notes 49
4.6 Cheques 50
4.6.1 The Main Parties Involved in a Cheque 50
4.6.3 Classification of Cheques 51
4.6.2 Essential Elements of a Cheque 51
4.6.4 Legal Acts on a Cheque 53
Exercises 55
Chapter 5 Collections 57
5.1 Outline of Collections 57
5.2 The Main Parties Involved in Collection 58
5.3 Basic Documentary Collection Procedure 59
5.4 Classification of Collections 60
5.5 Documents under Collection 65
5.6 Uniform Rules for Collections 68
5.6.1 Summary of the Provisions of URC 68
5.6.2 The Legal and Practical Position Regarding the Duties of the Remitting Bank 70
5.6.3 Payment under the Documentary Collection System:the Theory 71
5.6.4 Timing of Payment:the Practice 71
5.6.5 Acceptance Pour Aval 71
5.6.6 Risks to Exporter Who Sell on Documentary Collection Terms 72
Exercises 73
Chapter 6 Documentary Credits 76
6.1 Outline of Documentary Credits 76
6.1.1 The Feature Common to All Kinds of L/C 77
6.1.2 Role of Banks under Documentary Credits 77
6.1.3 Limitations of Documentary Credits 78
6.1.4 The Uniform Customs and Practice for Documentary Credits 79
6.2 Main Parties to Documentary Credit 79
6.3 Procedure of Documentary Credit 80
6.3.1 Issuance 81
6.3.2 Amendment 82
6.3.3 Utilization 83
6.3.4 Settlement(Making Payment) 84
6.4.1 Types of Documentary Credits 88
6.4 Types and Uses of Documentary Credits 88
6.4.2 Uses of Documentary Credit 89
Exercises 104
Chapter 7 Other Payment Methods 107
7.1 Payment in Advance 107
7.2 Open Account 108
7.3 Factoring 109
7.3.1 Essence of Factoring 110
7.3.2 Versatile Services 110
7.3.3 Types of Factoring 111
7.3.4 A Normal Transaction of a Maturity Factoring 111
7.3.5 Development of Factoring 112
7.4 Forfaiting 113
7.4.1 Basic Concepts of Forfaiting 113
7.4.2 Procedure of a Typical Foffaiting Transaction 115
7.4.3 Development of Forfaiting 116
7.4.4 Differences betwween Factoring and Forfaiting 117
Exercises 118
Chapter 8 Documents 121
8.1 Business Documents 122
8.1.1 Commercial Invoice 122
8.1.2 Other Invoices 123
8.1.3 Packing List 125
8.1.4 Non-official Certificate of Inspection 128
8.2 Transport Documents 129
8.2.1 Marine Bill of Lading(B/L) 129
8.2.2 Multimodal(combined)Transport Document 134
8.2.3 Sea Waybill 136
8.2.4 Air Waybill(Air Consignment Note) 136
8.2.5 Road Waybill,Rail Waybill and Railway Cargo Receipt 137
8.3 Insurance Documents 140
8.3.1 Insurance Policy 140
8.3.3 Cover Note 141
8.3.2 Insurance Certificate 141
8.3.4 Open Cover 142
8.4 Official Documents 144
8.4.1 Certificate of Origin 144
8.4.2 Inspection Certificate 145
8.4.3 Export Licence 150
8.5 Document Checklists 151
8.6 Documents Examination 152
8.7 Disposal of Discrepancies 155
8.7.1 Essential Discrepancies 155
8.7.2 Disposal of Discrepant Documents by Banks 156
Exercises 158
Keys to Exercises 161
Appendix Uniform Customs and Practice for Documentary Credits(ICC Publication No.500) 162
References（参考书目） 194