第六章信用證1

Chapter6letterofcreditWhytheletterofcredithadbeendeveloped?1.Keyissueofinternationalsettlement:Creditrisk,andcapitaltiedup.2.DisadvantageofPaymentinadvanceandopenaccount.3.bank’sroleininternationalsettlement6.1introduction6.1.1definitionThedocumentarycreditorletterofcreditisanundertakingissuedbyabankfortheaccountofthebuyer(Theapplicant)orforitsownaccount,topaythebeneficiarythevalueofdraftand/ordocumentsprovidedthatthetermsandconditionsofthedocumentaryarecompliedwith.跟單信用證或信用證是開證行代買方或開證行自己開立的,保證對受益人提交的與信用證條款和條件相符的匯票或單據(jù)金額進(jìn)行付款的承諾.6.1.2featuresofL/C.Aletterofcreditplacesabank’screditinsteadofacommercialcredit.Itisguaranteedbytheissuingbank’screditworthiness.(1)Theissuingbankundertakestoeffectpayment,quiteindependentofwhethertheapplicantisbankruptorisindefaultornot,providedthedocumentspresentedareincompliancewiththetermsandconditionsofthecredit.(2)Aletterofcreditstandsindependentofthesalescontract.Althoughthecreditisissuedonthebasisofthecontract,banksareinnowayconcernedwithorboundbysuchcredit,evenifanyreferencewhatsoevertosuchcontractisincludedinthecredit.Thebank,whenissuingthecredithasnoregardforthesalescontractbutfollowsanapplicationhandedinbythebuyer.(3)Inletterofcreditbusiness,banksdealwithdocumentsandnotwithgoods,servicesorotherperformancetowhichthedocumentsmayrelate.Theycheckexclusivelyonthebasisofthedocumentspresentedtothemtoseewhetherthetermsofthecreditarefulfilled.Theyarenotinapositiontoverifywhetherthegoodssuppliedactuallyconformtothosespecifiedinthecredit.(4)Banksengagedinletterofcreditbusinessassumesnoresponsibilityfortheform,sufficiency,accuracy,genuineness,falsificationorlegaleffectofanydocumentspresented.Theirmainresponsibilityinthisrespectistoexamineeachdocumentpresentedtoseewhetheritappearsonthefacetobeincompliancewiththecreditterms.(5)Banksdealingletterofcreditbusinessassumenoresponsibilityfortheactsofthirdpartiestakinginonewayoranotherinthecredittransaction.6.1.3benefitsandlimitationsofthedocumentarycredit1.benefitsThedocumentarycreditprovidesahighlevelofprotectionandsecuritytobothbuyerandsellers.Thesellerisassuredthatpaymentwillbemadebyapartyindependentofthebuyersolongasthetermsandconditionsofthecreditarecompliedwith.thebuyerisassuredthatpaymentwillbemadetotheselleronlyafterthebankhasreceivedthetitledocumentscalledforinthecredit.2.LimitationsofL/CDocumentarycreditsarenotfoolproof(簡單明了得決不會出亂子的).therearelayersofprotectionsforboththebuyerandtheseller,butopportunitiesforfrauddoexist.Manyoftheopportunitiesforfraudcenteronthefactsthatbanksdealwithdocumentsratherthanthegoods.Thesituationlistedbelowareextremelyuncommon,butdoexist.1.Sellershavereportedreceivinganadviceoraconfirmationofadocumentarycreditfromnonexistingbanks.Theperpetratorofthefraudattemptstogetthesellertoshipgoodsandpresentdocumentsforpaymenttoabankthatdoesnotexist.Bythetimethesellerisawareofthefraud,the“buyer”hasreceivedthegoodsanddisappear.2.Buyershavereportedreceivingemptycratesorcratesfilledwithsandinsteadofthemerchandisetheyordered.Bythetimetheyreceivedtheshipmentthebankshadalreadypaidthe“supplier”.3.Buyerhavereportedreceivingdefectivemerchandisefromsellers.Whiletheremaybesomelatitudeforinterpretationofwhatconstitutes“defective”,itisclearthatsomesuppliershavepurposefullyshippedincorrectorsubstandardgoods.4.Buyershavereportedbeingshort-shipped.Insomecasesbuyershaveorderedavaluablecommoditysoldbyweightandwerechargedforthegrossweightratherthanthenetweight.5.Buyersofcommodities,especiallygraymarketgoods,havereportedbeingdefraudedbytheseller’sprovidingfraudulentshippingdocuments,evidencingshipmentonanonexistentship.信用證的性質(zhì)與作用一.信用證的性質(zhì).1.信用證是開證行有條件的付款承諾:一般擔(dān)保業(yè)務(wù)是被擔(dān)保人不履約時,擔(dān)保人才承擔(dān)付款義務(wù).而信用證業(yè)務(wù)是開證行首先承擔(dān)付款義務(wù),只要單證相符,開證行就要對議付行,承兌行付款行付款,受益人也可直接向開證行提交單據(jù),只要單據(jù)相符,開證行必須付款,所以說”開證行負(fù)第一性的付款責(zé)任”.2.信用證是自足文件:信用證的基礎(chǔ)首先是買賣合同(first,thesalescontractbetweenbuyerandseller),第二是買方（申請人）與開證行的申請書和擔(dān)保協(xié)議（second,the“applicationandSecurityagreement”orthe“reimbursingAgreement”betweenthebuyer(theapplicant)andtheissuer(theissuingbank)）;第三，在這兩個文件的基礎(chǔ)上開證行才向受益人開立信用證（third,thedocumentarycreditbetweentheissuingBankandthebeneficiary.)但是這些文件是相互獨(dú)立的，每個文件只能約束有關(guān)當(dāng)事人（Eachcontractisindependentandcontrolstherespectiverelationshipbetweentheparties.）正如UCP指出的，信用證的特點(diǎn)就是獨(dú)立于合同，并不受合同的限制（credit,bytheirnatureareseparatetransactionsfromthecontractsonwhichtheymaybebasedandbackareinnowayconcernedwithorboundbycontracts.）.雖然信用證條款中出現(xiàn)了合同號，但銀行并不對合同負(fù)責(zé)。是否有合同，合同條款是否與信用證一致，所交單據(jù)是否符合合同要求等，銀行一律不過問。另外，受益人也不能利用銀行之間以及申請人和開證行之間的上述契約關(guān)系。（abeneficiarycaninnocaseavailhimselfofthecontractualrelationshipsexistingbetweenthebankorbetweentheApplicantandtheissuingbank）3.信用證業(yè)務(wù)是單據(jù)買賣，開證行只憑正確單據(jù)付款，議付行憑單據(jù)議付。在信用證業(yè)務(wù)中，所有各方，銀行和商人所處理的都是單據(jù)，而非貨物。（indocumentarycreditoperationsallpartiesconcerneddealindocumentsandnotingoods.）二、信用證的作用。跟單信用證滿足了賣方需要現(xiàn)金和買方需要融資的要求，這個融資工具可以為買賣雙方獨(dú)立地提供融資服務(wù)。（Thisdocumentarycreditarrangementusuallysatisfiestheseller’sdesireforcashandtheimporter’sdesireforcredit.Thisfinancialinstrumentservestheinterestofbothpartiesindependently.）跟單信用證的使用解決了國際貿(mào)易中預(yù)付和遲付的矛盾，進(jìn)口商可以不必先將貨款付給出口商，出口商也不用擔(dān)心進(jìn)口商收到貨物不付款。銀行負(fù)第一性付款責(zé)任。跟單信用證的作用，一是保證出口商安全收款，進(jìn)口商安全收貨；二是銀行為進(jìn)口商提供資金便利，使相隔遙遠(yuǎn)，互不信任的商人能進(jìn)行貿(mào)易。跟單信用證具備完善結(jié)算方式的三個特點(diǎn)：一是安全迅速清償債權(quán)債務(wù)；二是能保證買賣雙方的利益都能照顧；三是便于融通資金，方便各方籌措資金。但信用證結(jié)算方式也會遇到一些風(fēng)險和問題，如出口商開不出信用證，或開出的信用證與合同不符，或在信用證條款里做埋伏；出口商用假單據(jù)欺騙等。近年來還出現(xiàn)了一些假信用證（fraudulentL/C），有的是由一個根本不存在的銀行開出，有的以本行分支行的名義開出，但簽字人是偽造的假簽名，還有的是假銀行，假簽名，并造出假格式，假密押等，增加了信用證業(yè)務(wù)的風(fēng)險，需要謹(jǐn)慎處理。6.1.4partiesinvolvedinadocumentarycreditTherearefourmainpartiestoadocumentarycredittransactionandotherparties.1.Applicant(importer):theapplicantisalwaysanimporterorabuyer,whofillsoutandsignsanapplicationform,requestingthebanktoissueacreditinfavorofanexporterorasellerabroad.3.Advisingbank:correspondentbankorbranchoftheissuingbanktowhomtheletterofcreditisroutedfortransmissiontothebeneficiary.Ithasthetaskofinformingthebeneficiarythatthecredithasbeenissuedinhisfavorsothatthebeneficiarymaymakenecessarypreparationforshippingthegoodsanddraftingthedocumentsstipulatedinthecredit.(4)beneficiary/seller:thesellerinwhosefavorthecreditisissued,becausesuchacreditisconsideredtobenefittheexporterbyitsassuranceofpaymenttohim.(5)Confirmingbank:abank,usuallytheadvisingbank,whichaddsitsundertakingtothoseofissuingbankandassumesliabilityunderthecredit.6.Negotiatingbank:abankthatpurchasethedocumentsunderthecredit,ifallthecredittermsaremet,thenegotiatingbankwillbuytheexporter’sdraftswithrecourseandthenitwillsendthedraftsanddocumentstotheissuingbankforreimbursement.7.Payingbank/drwaeeban