国际结算(双语)第二章：国际结算中的票据 chapter2 Instruments.pptx

INTERNATIONAL SETTLEMENT Chapter 2 Negotiable Instrument Chapter 2 Negotiable Instrument 2.1 General Introduction of Negotiable Instruments** 2.2 Bill of Exchange*** 2.3 Promissory Notes* 2.4 Cheque** 2.1 General Introduction of Negotiable Instruments 1 Definition of Negotiable Instrument According to the US Uniform Commercial Code of 1952, negotiable instrument is an unconditional writing that promises or orders the payment of a fixed amount of money. In broad sense Negotiable instrument refers to any commercial document of title. It is an evidence of someone’s ownership of money or goods that is actually under his control, such as invoice, bill of lading, insurance certificate, warrant, certificate of deposit, bill of exchange, promissory note, check and etc. In narrow sense Negotiation instrument refers to the securities that with the purpose of paying. The drawer signs on the negotiable instrument, unconditionally orders another party or himself to pay a certain amount of money at a determinable future date. 2 Opening Case a brief case of the three negotiable instruments： the cash flow is： A B D C A in New York imports a batch of chairs from B in Paris, the total value is 10,000 dollars, order number: 95E03LC001, shipment date: July 10th, 2011, and it is stipulated in the contract that payment should be effected within 30 days after shipment; C in Paris buys desks from D in New York with total value of 10,000 dollars. Meanwhile C offers furniture to B which costs 10,000 dollars. How to issue three different instruments to clear the credit and debt relation among the four parties? cash flow We can see clearly from the left chart that the cash flow goes from A to B to C and finally D. In other words, A is the party that would effect payment finally, and on the contrast, D is the party that would receive money. Bill of Exchange Issuing B Drawer Issues a draft t