国际结算名词解释

International

trade

is

the exchange of

goods and

services produced

in one country

for those produced in another country

.

Trade terms

are

also called

“

delivery terms

”

. Incoterms are sets

of

uniform

rules

codifying

the

interpretation

of

trade

terms

defining

the

rights

and

obligations of the buyer and seller in international transactions.

Open account

an arrangement between the buyer and seller

whereby

the goods are

manufactured and delivered before payment

is

required.

It provides

for payme

nt

at

some

stated

specific

future

date

and

without

the

buyer

issuing

any

negotiable

instrument evidencing his legal commitment.

Advance

payment

the buyer places

the

fund at the disposal of the seller prior to

shipment of the goods or provision of services.

It is expensive and contains a degree

of risk.

Sales

contract

is

a

written

agreement

that

clearly

states

the

right

and

responsibilities of both parties to a transaction.

Correspondent

relationship

The

so-called

correspondent

bank

may

be

defined

as

“

a bank having direct connection or friendly service relations with another bank.

International

payments

and

settlements

are

financial

activities

conducted

among

different countries

in

which payments

are effected or

funds are transferred

from one

country to another in order to settle accounts, debts, claims, etc.,emerged in the course

of political, economic or cultural contacts among them.

Visible

trade

the

main

weight

of

international

money

transfer

is

importing/exporting of commodities and goods between the buyers and the sellers.

Nostro account

is the foreign currency account (due from account) of a major bank

with the foreign banks abroad to facilitate international payments and settlements.

Vostro

account

is

an

account

(due

to

account)

held

by

a

bank

on

behalf

of

a

correspondent

bank.

it

covers

foreign

exchange

market

transactions,govermenta

supported export credits,syndicated loans,international bond issues ,etc.

A

negotiable

instrument

is

a

chose

in

action,

the

full

and

legal

title

to

which

is

transferable by delivery of the instrument (possibly with the transferor

’

s endorsement)

with

the

result

that

complete

ownership

of

the

instrument

and

all

the

property

it

represents passes

freely

from

equities to

the

transferee, providing

the

latter

takes

the

instrument in good faith and for value.

Bill of exchange

it is an unconditional order in writing,addressed by one person (the

drawer) to

another(the drawee),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 to the order of a specified person,or to bearer.

Direct bill

:It is a bill on which the place of acceptance is the same one as the place of

payment.

Indirect

bill

:It

is a bill

on which

the place of acceptance

is

not the same one as

the

place of payment.

Inland bill/domestic bill

:It is a bill drawn and payable in the same country

.

Foreign bill

:It is a bill drawn and payable in another country

.

A crossing

is

in effect an

instruction to the paying bank

from

the drawer or

holder to

pay

the

fund to

a bank only

.

Hence, such checks will

not be paid over

the counter of

the paying bank and must be presented for payment by a collecting bank.

A check

is an unconditional order in writing addressed by the customer(drawer) to a

bank(drawee)

signed

by

that

customer

authorizing

the

bank

to

pay

on

demand

a

specified sum of money to or to the order of a named person or to bearer.

A documentary bill

is a bill with shipping documents attached thereto.

International

remittance

happpens

when a client asks

his bank to send a sum of

money

to

a

beneficiary

abroad

by

one

of

the

transfer

methods

at

his

option.

The

beneficiary

can

be

paid

at

the

designated

bank,which

is

either

the

reimitting

bank's

overseas branch or its correspondent.

The

remittance

means

that

the

debtor

(importer)

authorizes

a

bank

to

pay

the

payments of goods to the creditor (exporter),the direction of

the funds flowing is the

same as that of the payment instruments transmitted.

Reverse remittance

is also

referred to

as to draw a

Draft(Bill) or

Reverse

Exchange

or Negotiation by

means that the direction of the

funds

flowing

is different to

that of payment instruments transmitted.

The case of need

is the

representative appointed by the principal

to act as case of

need

in

the

event

of

non-acceptance

and

/

or

non-payment,

whose

power

should

be

clearly and fully stated in the collection.

Collection

is an arrangement whereby the goods are shipped and a relevant bill of

exchange

is

drawn

by

the

seller

on

the

buyer,and/or

shipping

documents

are

forwarded to the seller's bank which clear instructions for collection through one of its

correspondent bank located in the domicile of the buyer.

Direct

collection

is

an

arrangement

whereby

the

seller

obtains

his

bank

’

s

pre-numbered

direct

collection

letter,

thus

enabling

him

to

send

his

documents

directly

to

his

bank

’

s

correspondent

bank

for

collection.

This

kind

of

collection

accelerates the paperwork process.

Clean collections

are collections on financial instruments without being accompanied

by commercial documents, such as invoice, bill of lading, insurance policy

, etc.

Documentary

collections

may

be

described

as

collections

on

financial

instruments

being

accompanied

by

commercial

documents

or

collections

on

commercial

documents

without

being

accompanied

by

financial

instruments,

that

is,

commercial

documents without a bill of exchange.

Outward

collection

or

payable

overseas

is

a

collection

business

in

which

a

bank

acting as a remitting bank sends collection

items to a collecting bank to

get payments

from the drawees.

Inward

collection

or

payable

domestic

is

a

collection

business

in

which

a

bank

acting

as

a

collecting

bank

presents

the

collection

items

received

from

a

remitting

bank

to

the

drawees,collects

payments

from

them

and

remits

the

proceeds

to

the

remitting bank.

Bill

purchased

Financing

by

banks

for

exporters

under

documentary

collection

methods

takes

the

form of

collection bill purchased. Collection bill purchased

means

that

the remitting bank purchases the documentary bill drawn by the exporter on

the

importer.

Import

bill

advance

means

the

collecting

bank

uses

the

documents

especially

the