国际结算第8部分学习课件.pptVIP

Chapter 8Draft and Acceptance In documentary transactions sellers make a written demand upon either a bank or the buyer to pay for the shipment of goods. This demand accompanies the documentation package the seller presents to the bank. Such a formal written demand for payment is called a “draft” or “bill of exchange”. Ⅰ Definition and characters An unconditional order in writing, signed by a person (drawer) such as a buyer, and addressed to another person (drawee), typically a bank, ordering the drawee to pay a stated sum of money to yet another person (payee) , often the seller, on demand or at a fixed or determinable future time. The most common versions of drafts are: (1) SIGHT DRAFTS which are payable when presented. (2) TIME DRAFTS (also called usance drafts) which are payable at a future fixed (specific) date or determinable (e.g., 30, 60, 90 days) date. Essentials The word “Bill of Exchange” or “Draft”; An unconditional order in writing; Date and place of issue; Tenor of payment; Amount; Name and address of the drawee; Name of the payee or order; Drawer’s signature(s); An unconditional order in writing (1)Pay against the sole bill of exchange to ABC Co. or order the sum of one thousand US dollars only. (2) Pay against this second of exchange (first of exchange being unpaid)…… (3) Pay against this first of exchange (second of exchange being unpaid)…… Pay against the sole bill of exchange to ABC Co. or order the sum of one thousand US dollars only for value received. Drawn under LC No.12345 issued by XYZ Bank, New York dated on 15th August, 2005. (“for value received” is acceptable.) Date and place of issue Shanghai, China ,DEC.31,1999 Basle,10th October,2003 Tenor of payment (1)Pay at sight/on demand/…… (2)Pay at a determinable future time…… (3)Pay on a fixed future date …… Pay at a determinable future time (1)Pay at XXX day(s)/XX month(s) after sight…… (2)Pay at XXX day(s)/XX month(s) after date…… (3)Pay at XXX day(s)/XX month(s