letter-of-credit(信用证)

ChapterFiveDocumentaryCreditsTeachingpurposeHelpstudenttounderstandthefundamentalofletterofcredit;graspthebasicprocedureandcontentofcredit;understandthecreditlegalrelationship;learntousetheinternationalcustomstoanalysesthetypicalcase.FocalanddifficultpointsCharacteristicsofletterofcredit,basicproceduresofcredit,generalcontentofcredit,creditlegalrelationship,irrevocablecredit,confirmedcredit,negotiationcredit,andtransferablecredit.KeytermsLetterofCredit,IssuingBank,PrimaryResponsibilityforPayment,RevocableCredit,IrrevocableCredit,ConfirmedCredit,NegotiationCredit,TransferableCredit,DocumentsConformedwiththeCredit.ContentofChapterFiveDefinition,characteristics,significance,proceduresofcredit.Creditlegalrelationship.Typesofcredit.Importandexportcreditoperation.Riskandfinancingunderletterofcreditmethods.UniformCustomsandPracticeforDocumentaryCreditsandtypicalcaseanalysis.§5.1SummaryofLetterofCreditA.Definition:DocumentaryCreditmeananyarrangementwherebyabankactingattherequestandontheinstructionsofacustomeroronitsownbehalf.Ⅰtomakeapaymenttoortotheorderofathirdparty,ortoacceptandpaybillsofexchangedrawnbytheBeneficiary,orⅡauthorizeanotherbankstoeffectsuchbillsofexchange,orⅢauthorizeanotherbanktoeffectagainststipulatedocument(s),providedthatthetermandconditionsoftheCreditareCompliedwith.UCR500#2TheDocumentaryCreditorLetterofCreditisanundertakingissuedbyabankfortheaccountofthebuyer(applicant)orforitsownaccount,topaythebeneficiarythevalueofthedraftand/ordocumentsprovidedthatthetermsandconditionsofthedocumentarycreditarecompliedwithICC500ADocumentaryCreditorLetterofCreditisaconditionalpromiseofpaymentbyabankB.FeaturesofDocumentaryCredita.Issuingbanktakesonthefirstresponsibilityofpayment.b.Increditoperationallpartiesconcerneddealwithdocumentsandnotwithgoods,servicesand/orotherperformancestowhichthedocumentsmayrelate.c.TheCreditisanindependentandautonomicarrangement/document.C.EffectsofCreditsa.GuaranteefortheImporterandExporterb.FinancingfortheImporterandExporterD.TheEssentialContentsofLetterofCredita.Firstpart:①Kindsofcredit②L/Camountinfiguresandwords③L/Cnumber④DateofIssuea.Firstpart:⑤ExpirydateandplaceoftheCredit⑥IssuingBank'snameandaddress⑦Applicant'snameandaddress⑧Beneficiary'snameandaddress⑨AdvisingBank'snameandaddressb.Secondpart:①BillofExchangeClause:Drawer,Drawee,Draftvalue,Tenor,DrawnClauseCreditavailablewiththeNominatedBankbysightpayment/deferredpayment/acceptance/negotiationb.Secondpart:②ShippingdocumentsClauses:CommercialInvoice,InsurancePolicy,B/L,etc.③GoodsClause:Description,Quantity,Unitprice,PriceTermsb.Secondpart:④TransportationClauses:Portofloading/discharge/destination,Thelatestdateofshipment,PartialshipmentorTransshipmentallowed/prohibited⑤Otherorspecialtermsand/orconditionsc.Thirdpart:①TheinstructionstoNegotiatingBank②TheIssuingBank'sUndertakingClause③TheIssuingBank'snameandsignature④ThisdocumentaryCreditissubjectedtoUCP500L/CamountinfiguresandwordsAmountRMB¥…UptoanaggregateamountofHKD…FormaximumUSD…ForasumnotexceedingGBP…TotheextentofJP¥…ExpirydateandplaceoftheCreditDraftmustbepresentedtodraweebanknotlatethan…ThisL/CisvalidfornegotiationinChina(oryourpart)until15,July2005ExpirydateandplaceoftheCreditExpirydate14,August2005fornegotiationincountryofBeneficiary.ThiscreditshallceasetobeavailablefornegotiationofBeneficiary'sdraftafter7thFeb.2005.Other/Specialconditions:Docs.mustbepresentedwithin15daysafterthedateofissuanceoftransportdocs.Alldocs.mustbedispatchedtousinonelotbycourier.AllbankingchargesoutsideFranceareforaccountofBeneficiaryOther/Specialconditions:ThisL/Cisnotoperativeuntilweadviseprice,nameofvessel,destinationandfinaldocumentaryrequirementsbywayofamendment.Other/Specialconditions:Thecert.ofinspectionwouldbeissuedandsignedbyauthorizedtheApplicantofL/Cbeforeshipmentofcargo,whichthesignaturewillbeinspectedbyIssuingBank.Other/Specialconditions:Thecert.ofinspectionwouldbeissuedandsignedbyauthorizedtheApplicantofL/Cbeforeshipmentofcargo,whichthesignaturewillbeinspectedbyIssuingBank.Other/Specialconditions:Incaseshipmentisnoteffectedintimestipulated,anautomaticextensionofthedateofshipmentandvalidityfor10daysisacceptable.Other/Specialconditions:AdiscrepancyfeeofUSD100.00willbeimposedoneachsetofdocs.presentedtousforpaymentwithdiscrepanciesunderthisletterofcredit,thisfeewillbedeductedfromthepaymentproceeds.Other/Specialconditions:T.T.reimbursementallowedaccompaniedbynegotiatingbank'sauthenticatedcert.thatalltermsandconditionsofthecreditarefullycompliedwithandalldocs.havebeensenttoopeningbankbyDHL.Other/SpecialconditionsCertifythatthecarryingvesselisallowedbyArabauthoritiestocallatArabianportandisnotscheduledtocallatanyIsrealiportduringatitsvoyagetotheUnitedArabEmigrates.5.2ProcedureofDocumentaryCredits⑴⒀⒁⑾⑿⑸⑹⑷⑺⑻⑵⑼⑽⑶Beneficiarys.c.ApplicantIssuingBankAdvising/NegotiatingBank5.2ProcedureofDocumentaryCredits⑴Buyerandsellerconcludeasalescontract⑵Applyingforadocumentarycreditbythebuyer⑶Thebuyer'sbankissuesacreditforthefullvalueunderapackageofcreditline5.2ProcedureofDocumentaryCredits⑷Advisingcreditupon