国际结算第二章课件.ppt

* * * * * * * * * * * * * * * * * * * * * * Chapter 2 Instruments of Settlement 2.1 An Overview of Negotiable Instruments 2.2 Bill of Exchange/Draft 2.3 Promissory Note 2.4 Check 2.1 An Overview of Instruments What is a negotiable instrument? The negotiable instrument is a kind of certificate in writing, which aims at obtaining a certain amount of proceeds. Negotiation? a negotiable instrument is a an unconditional promise or order to pay an amount of money that is easily transferable from one person to another. full and legal title passes on delivery not necessary to give notice of transfer to the liable party free from equities or defects in title of any previous holder good faith for value 1. Definition of negotiable instruments 2. Features of credit instruments Establishment of rights and responsibilities Non-causative nature Requisite in form Negotiability Presenting for payment 1) drawer 2) payer/drawee 3) payee 4) acceptor 5) endorser 6) endorsee 7) acceptor for honor 8) guarantor 9) holder: holder for value, holder in due course bona fide holder 3. Parties to a negotiable instrument Transfer the instruments with conditions Claim for payment Recourse Only when the claim of holder for payment can’t be satisfied, can recourse right be effected. Titles to holders British law UK Bills of Exchange Act of 1882 US Uniform Commercial Code of 1962, Article 3 French and German law Uniform law for Bills of Exchange and Promissory Notes of Geneva of 1930 Convention Providing a Uniform Law for International Bills of Exchange and International Promissory Notes and Convention Providing a Uniform law for International Checks United Nations 1988 Negotiable Instrument Law of People’s Republic of China 4. Negotiable instrument laws 2.2 Bill of exchange (Draft) Definition(section3, bill of exchange act, 1882,UK) A bill of exchange is an unconditional order in writing, addressed by on