第五章 信用证结算方式.ppt

Chapter five Letter of credit The concept and characteristics of a L/C Contents of a L/C Parties to a L/C Procedures of a documentary credit operation Types of credit Examination of a L/C The concept of a L/C A L/c is a written undertaking by the issuing bank to the beneficiary, under which the bank will pay a sum certain in money to the beneficiary if the beneficiary of the L/C provides the bank with specified documents within a prescribed time period, which all comply with the terms and conditions of the credit. Characteristics of a L/C A written undertaking on the part of the issuing bank Independent of the sales contract Exclusively dealing with documents High level of protection and security to both buyers and sellers Abide byUCP500, Uniform Customs and Practice for Documentary Credits, ICC Publication No.500 1929/74，1933/82，1951/151，1962/222，1974/290，1983/400，1993/500, 2006/600 全文共49条，包括：总则与定义、信用证的格式与通知、责任与义务、单据、杂项规定、可转让信用证和款项让渡七个部分。 UCP 600 2007 Revision the ICC Banking Commission on 25 October, 2006 approved UCP 600, and it enters into force on July 1, 2007 and contains substantive changes to the existing rules New Provisions a leaner set of rules, with 39 articles rather than 49 articles of UCP 500; a new section of “Definitions,” containing terms such as “honour” and “negotiation”; a replacement of the term “reasonable time” with a definite number of days for examining and determining compliance of documents; a new provision concerning addresses of the beneficiary and the applicant; an expanded discussion of “original documents”; re-drafted transport articles aimed at resolving confusion over the identification of carriers and agents. The new UCP 600 also contains within the text the 12 Articles of the eUCP, ICC’s supplement to the UCP governing presentation of documents in electronic or part-electronic form. Contents of a L/C Items on the credit itself Basic parties Items on draft Settlement conditions兑付的方式 Items on goods,shipping docu