【正文】 the sum of US dollars one thousand only. Suppose the accepted draft was discounted on 23 may, 2022 by the collecting bank, Bank of Asia, London at the rate of 9% per annum. Please calculate discount amount and proceeds. Exercises 1. Exchange forUSD100, Tempa, 15 May,2022 At 60 days after sight pay to the order of Ourselves the sum of US dollars one hundred thousand only. “Drawn under The French Issuing Bank, Paris, France L/C dated 25 Feb., 2022” To The French Issuing Bank. For The American Exporter Co., Paris Ltd , Tempa signature 2. When ISBP does not put into force, the maturity falls on 20 May,2022 when ISBP puts into force, the maturity falls on 21May,2022 3. Discount amount:12500＊ 60/365 ＊ 9/100= Net Proceeds= ? What is a promissory note ? Essential items of a promissory note ? The difference between a bill and a note ? Types of notes Promissory note ? 本票是出票人簽發(fā)的，承諾自己在見票時無條件支付確定的金額給收款人或持票人的票據(jù)。 one copy ? Acts involved: for a promissory note, never accepted ? Main obligor: for a draft, the drawer is primarily liable for payment before acceptance, but after acceptance the acceptor bees primarily liable for payment. for a promissory note, maker is always primarily liable for payment. ? When dishonor, protest is needed for foreign bill but not for promissory note. difference between a bill and a note ? Trader’s notes ? Banker’s notes ? 國際小額本票（ International Money Order） ? 旅行支票（ Traveller’s Cheque） ? 中央銀行本票（ Central Banker39。billpayment and credit instrument ? Acts:certified and crossed ? Limitations on the drawer and drawee: for a check, the drawee must be the bank with which the drawer opens a checking account ? A check can be cancelled before payment while for a bill, the payment is irrevocable after acceptance ? in a setamp。 make sure whether the drawer has disposing capacity ? Name of drawee ? The signature of the drawer without the signature of the drawer or fed signature makesan instrument invalid. (二 ) Absolutely necessary items(二 ) ? Place of issue ? Place of payment ? Tenor ? 即期付款 (pay on demand/at sight) ? 遠(yuǎn)期付款：出票后定期 certain days after date 見票后定期 certain days after sight 定日付款 fixed date 提單日后定日付款 certain days after B/L Calculating the due date of a bill 嚴(yán)格按照匯票的文義推算 ， 月為日歷月 ， 半 15天 ， 如遇節(jié)假日則順延 at 30 days after date。 ?By endorsing an instrument,the endorser guarantee that on due presentment the bill shall be accepted and paid as specified. Types ： 1) Special endorsement 記名背書 /特別背書 /正式背書 /完全背書 Pay to the order of ABC Co., signed 2) Blank endorsement 空白背書 3) Restrictive endorsement 限制性背書 Pay to A only/not transferable/not negotiable/pay to A bank for account of B Co. 4) Endorsement for collection 委托取款背書（托收背書） 5) Endorsement for pledge質(zhì)押背書 endorsee endorser date A First endorsement C B Second endorsement C Third endorsement E D Fourth endorsement ? The drawee sign on the face of bill, and deliver it to the person presenting for acceptance, by which the drawee shows his assent to the order of drawer ? Forms ： the word “accepted”。payable at a longer time after date 2)partial acceptance Acceptance ? This act is usually performed by a third party called guarantor, who engages to pay on presentment for a sight bill and accept and pay at maturity for a time bill. Guarantee Notes: 1） the guarantor stands for a debtor such as drawer, endorser,or acceptor and assumes his indebtedness to the holder 2） when the guarantor is pelled to pay, his right of recourse arises against the guaranteed and all the prior parties of the guaranteed. ? In the event of a draft being dishonored, the holder in due course can sue every person who signed the draft prior to him. ? Qualifications to exert and preserve the right of recourse: ? Completeness in form of the draft ? Presenting for acceptance and payment on the due time ? Notice of dishonor拒付通知 When dishonored by nonpayment or nonacceptance, the holder must give notice to all the parties who remain liable that the draft has been dishonored to preserve their liabilities on the draft. ? Protest拒絕證書 A written statement certified by a notary public or other authorized person for the purpose of giving evidence that a bill has been presented for acceptance or for payment but dishonored. 圖示 Recourse 拒絕證書（ Certificate of Protest）： 是在拒付地點(diǎn)證明拒付事實(shí)的要式公證書。 ? usually paying after its receipt of the funds from the remitting bank。 limited time for banks to keep the funds the contents of T/T ? 信匯（ mail transfer， M/T） the remitting bank transfers the funds by mailing a . cheap but slow procedures for M/T and T/T ? 票匯 （ remittance by banker’s demand draft, D/D） On the request of the remitter, the remitting bank draws a demand draft on its overseas branch or correspondent bank ordering the latter to pay on demand to the payee upon presentation. convenient and transferable draft on center中心匯票 procedures for D/D Methods and procedures of remittance FM:匯出行 TO:匯入行 DATE:發(fā)電日期 TEST密押 OUR REF NO CHARGES FOR US 我行不負(fù)擔(dān)費(fèi)用 PAY(AMT) 金額 VALUE (DATE)起息日 TO(BENEFICIARY)收款人 MESSAGE附言 ORDER/BY ORDER OF (B/O)匯款人 COVER頭寸撥付 The contents of T/T 收款人： PAY TO BANK （收款人的帳戶行） FOR CREDI