浙江财经沈莉国际结算第三章.pptVIP

lBanker’s acceptance bill and commercial (trader’s) acceptance bill lOrder bill or bearer bill or straight bill Discounting Where a payee of a term bill requires payment immediately, a bank may discount the bill, i.e. make immediate payment deducting an amount for interest over the term of the bill. 3. Promissory Note Definition A promissory note is an unconditional promise in writing made by one person to another signed by the maker, engaging 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 bearer. Specimen Parties involved lDrawer Payee Main Items l The words “promissory note” l?An unconditional promise to pay l Name of the payee or his order l?Drawer’s signature l?Place and date of issue l Tenor l A certain sum of money in words and figures Place of payment (It will be regarded as the place of payment if not shown) Types Trader’s Notes It is barely used because of the unknown standing of the issuer or he is in any way financially suspect. Banker’s notes They are widely used in banking and issued by commercial banks payable to specified person or to bearer. The issuance of banker’s notes payable to bearer is prohibited by government while it is allowed to issue banker’s notes payable to specified person Traveler’s Check ? The agent that issues the traveler’s checks is the payer. In fact, it is a deposit without interest for a purchasers in his issuing agency. It is about to draw the deposit when cashing a check, so it is named check. Certificate of Deposit (CD) (1) US-dollar Negotiable CD (2) Yankee CD (3) Euro-dollar Negotiable CD: FIRST NATIONAL CITY BANK in 1996 for the first time in London within 1 year Various Bonds ???? Usance promissory notes usually within one year. Treasury Bills They are usually large bills in western countries and the tenor is usually 91 days. 4. Check (cheque) Definition A check is an unconditional order in writi