国际结算期末考复习题-超级整理版

案例分析

CASE 1：

Chinese company A concluded a purchase contract with a Belgium company for some goods. The contract require that the goods should be Grade M or above and that the exporter should surrender certificate which verify that the goods has reached Grade M. But A didn’t request certificate of Grade M in the L/C opened by him.

After delivery, A took the delivered goods before paying. Then A found that the goods didn’t reach Grade M and asked the local quarantine to give a testification. A held the testification to demand the opening bank to dishonor. QUESTION:

1.Should the opening bank dishonor the L/C？ 2. Please statement the reason.

ANSWER:

1. The issuing bank should not dishonor.

2. Though the bank knows the fact that the seller fail to implement all the conditions of the

contract wholly, the bank must make payment. 3. According to the principle that L/C is an independent contractual document and the

operation of L/C is based on documents, the bank must make payment as long as the seller surrenders the accordant documents.

CASE 2：

One of Japanese company opened an irrevocable L/C on the request of its customer. The exporter was in Guangzhou. The L/C stipulates that the negotiating bank can be repaid by the opening bank’s New York branch. One bank in Guangzhou negotiated the draft, forwarded the documents to the opening bank and get payment from the reimbursing bank.

On the 4nd day, the opening bank said that there were discrepancies between the documents and L/C and asks for the repaid amount. The negotiating bank confirmed the discrepancies but the beneficiary said that the opener had taken the goods without the bills of lading. QUESTION:

Can the negotiating bank refuse to pay the money back to the opening bank? Why? ANSWER:

1. The negotiating bank can’t refuse to pay back the money.

2. L/C is based on document. The parties concerned deal with documents rather than goods

or facts. If the document presented is not in conformity with the L/C, the beneficiary can’t

get payment.

CASE 3：

One of our companies exported 5000 tons of rice. The L/C stipulated that 1000 tons was shipped every month from January to May. The seller shipped 1000 tons separately during January and February but there was no shipment in March because of lacking of goods. Then the exporter shipped 2000 tons and 1000 tons separately in April and May.

When the exporter negotiated the shipping documents, the bank refused to pay the 3000 tons shipped in April and May because the shipment in March was not in accordance with the stipulations of the L/C.

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Question:

Was the bank correct? Why? ANSWER:

1. The bank was right.

2. Because according to the Uniform Customs and Practice of Documentary Letter of Credit, if

partial shipments stipulate definitely the number of lots, time and quantity of every lot, the seller should exactly conform to the stipulation. If the seller doesn’t conform to the stipulation in a certain period, the period together with the following will be invalid automatically.

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选择题

1. To the exporter, the fastest and safest method of settlement is cash in advance. 2. To the importer, the fastest and safest method of settlement is open account. 3. Under a letter of credit, the exporter can receive the payment only when the documents presented comply with the credit terms. 4. Which of the following is based on commercial credit? Collection(托收) 5. There are four main methods of securing payment in international trade:④ payment in

advance;① payment under documentary credit;③ collection;② open account .From an

exporter’s point of view, the order of preference is ④①③②. 6. The documentary collection provides the seller with a greater degree of protection than

shipping on open account (赊账交易)。

7. Foreign trade can be conducted on the following terms except for public bonds. 8. Cash settlement is effected by shipping precious metals(贵金属)taking the form of coins, bars or bullions. 9. International cash settlement has the following disadvantages except safe.(即包括

expensive\\risky\\time-consuming) 10. If a bill is payable “60 days after date”, the date of payment is decided according to the date of the bill. 11. A term bill may be accepted by the drawee. 12. The party to whom the bill is addressed is called the drawee. 13. The maker of a promissory note has prime liability while the other parties have secondary liability.

14. A (n) bill of exchange is a financial document. 15. Demand draft(即期汇票) is often used when the client wants to transfer the funds to his

beneficiary himself. 16. If the paying bank opens a current account with the remitting bank, the reimbursement may

be effected by crediting vostro account of the paying bank(主动贷记) 17. If a London bank makes a payment to a correspondent abroad, the foreign bank’s vostro account will be credited.(贷记) 18. If Barclay Bank instructs Citibank to pay a sun of USD2,000,000 to Midland, its nostro account should be debited(借记). 19. Suppose that a UK firm which is to pay a debt to a West German supplier in Deutschmarks.

The firm will give a written instruction to its bank in the UK to issue a mail transfer. Then the UK bank debit the UK firm’s account as authorized. 20. The principal is generally the customer of a bank who prepares documentation and submits

them to the remitting （托收）bank with a application for payment from the buyer (drawee). 21. Which type of collection offers the greatest security to the exporter? Documents against payment.即期付款交单 22. Which of the following is not a risk that the exporter assumes on documentary collection

basis? B. harm to the reputation due to dishonor

PS: t a risk that the exporter assumes on documentary collection basis: A. non-acceptance of merchandise C. exchange restrictions D. non-payment of trade acceptance 23. The remitting bank is the bank of which the principle has entrusted the collection. 24. The importance of the distinction between financial documents and commercial documents

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lies in that it helps decide whether it is clean collection or documentary collection.

25. Letter of credit is a conditional undertaking to make payment. 26. With an unconfirmed irrevocable letter of credit, the advising bank transmits detail without commitment to the beneficiary. 27. A confirmed irrevocable letter of credit creates the highest level of security against sovereign risk政治风险. 28. Confirmation of a credit may be given by the advising bank at the request of the issuing bank. 29. The sum of the transferred credit is will not be more than in the credit before transfer. 30. In addition to stipulating an expiry date for presentation of documents, every credit should

also stipulate a specified period of time after the date of shipment during which presentation must be made. If no such period of time is stipulated, banks will not accept documents presented to them later then 21days after the date of shipment.

31. If a credit stipulating total amount available is about USD100, 000.00, then bank will refuse

the invoice that bears the amount of C. PS:若没有“about则默认为15%的增减幅度。 A. USD100, 000.00 B. USD100, 500.00 C. USD120, 000.00 D. USD99, 900.00

32. The advising bank informs the beneficiary another bank has issued a credit in his favor without adding its own engagement.

33. In a letter of credit, the bank pays the seller for documents which agree with the credit.

34. J.A. Smith applies to his bank for a letter of credit. The bank issued the credit and mails it to C. Thomas. Mr. Smith is the application. 35. Which of the following transport document is negotiable可流通转让? Marine bill of lading 36. The bill of lading is evidence of ownership. it thus functions as a title document（物权凭证）. 37. A commercial invoice is a statement describing the merchandise, its cost and shipping charges. 38. The minimum amount of the insurance cover under the letter of credit must be 110% of CIF value.

填空题

1. Settlement on commercial credit usually includes payment in advance, open account, remittance and collection. 2. Settlements on bank credit include letter of credit and bank guarantee. 3. Before the sixth century B.C., goods were exchange between traders in different countries on a barter basis. 4. The shipment of gold or silver across national boundaries was both expensive and risky. 5. If the paying bank maintains the remitting bank’s account, the reimbursement may be

effected by debiting remitting bank’s nostro account. 6. Under documents against acceptance, the buyer gains possession of the goods before payment and is able to dispose of the goods as he wishes. 7. Under D/P at sight, the seller issues a draft. The collecting bank presents the draft to the

buyer. When the buyer see it he must pay the money at once, then he can get the shipping document.(即期付款交单)

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