【正文】 ? mercial drafts and bankers’ drafts Chapter3: International Settlement Instruments Commercial draft: a bill of exchange issued by a firm on another firm or on a bank. Bankers’ draft: a draft drawn by a bank on another bank. Chapter3: International Settlement Instruments ? Commercial acceptance bill and banker’s acceptance bill ? clean bill and documentary bill Clean bill: a bill without shipping documents attached thereto. Documentary bill: a bill with shipping documents attached thereto. Chapter3: International Settlement Instruments ? promissory notes – definition: A promissory note is an unconditional promise in writing made by one person to another signed by the maker engaging to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person or to the bearer. Chapter3: International Settlement Instruments – Sample311 – Difference between a promissory note and a bill of exchange A promissory note is an unconditional promise to pay, whereas a bill of exchange is an unconditional order to pay。 There are two parties to a promissory note, whereas there are three parties to a bill of exchange。 The maker is primarily liable on a promissory note, whereas the drawer is primarily liable for a sight bill and the acceptor is primarily liable for a time bill. Chapter3: International Settlement Instruments – types: bank notes ? check – definition: A check is an unconditional order in writing, addressed by a person to a bank, signed by the person making it, requiring the bank to pay on demand a sum certain in money to or to the order of a specified person or to the bearer. Chapter3: International Settlement Instruments – Sample(312) – Types: Cash check, transfer check, ordinary check Crossed check: a check under which funds must be paid to a bank only. General crossing: the bank through which the check is paid is not specified. Example314. Special crossing: only the bank mentioned in the check can receive payment from the drawee bank. Example315 Chapter3: International Settlement Instruments ? traveler’s check – definition: A traveler’s check is a specially printed form of check issued by a financial institution, leading hotels, and other agencies in preprinted denominations for a fixed amount to a customer for use when he is going to travel abroad. A traveler’s check is actually a draft on a bank or other agency. Chapter3: International Settlement Instruments – parties Issuer: the financial institutions, leading hotels or other agencies issuing the traveler’s check. Selling agent or office: the one that sells the traveler’s check. The selling agents should keep separate accounts to record the total amount of checks received and sold and remit the proceeds to the issuer at once. Chapter3: International Settlement Instruments Holder: When purchasing the check, the person must sign his name thereon on the counter of selling agent. Paying agent: the one that undertakes by arrangement with the issuer to pay the traveler’s check presented by the holder. Transferee: the one to whom the traveler’s check is transferred. Chapter3: International Settlement Instruments – Procedures First, after filling in an application form, the purchaser signs his name on the face of each check in the presence of the teller and pays the amount equivalent to the total value of the checks plus mission。 Secondly, whenever the holder needs to cash the check, he countersigns on each check in the presence of the cashier. After ensuring that the signature is identical with that already signed thereon, the cashier encashes the check。 Chapter3: International Settlement Instruments Thirdly, After paying the check, the paying agent sends the check forward for collection and instructs the issuing bank to pay the proceeds either to its account or to some other bank for credit to its account. – Advantages Safe。 widely acceptable。 convenient Chapter3: International Settlement Instruments ? credit card shortterm small amount consumer’s credit extended by a bank Parties: issuing bank, cardholder, and merchant. ? Cyberpayments – Definition Cyberpayment is a system that facilitate the transfer of financial value through Inter or smart cards. Chapter3: International Settlement Instruments – Advantages Cyberpayments can provide the transacting parties with immediate, convenient, secure and potentially anonymous means to transfer financial value. – Disadvantages Cyberpayments also have the potential to facilitate the international movement of illicit funds. Chapter3: International Settlement Instruments – development Magic cards: such as credit card, ATM cards, prepaid cards, debit cards, cards that contain a magic stripe that allowed the user to gain access to a line of credit or bank account。 Chip cards: such as memory cards, smart cards, optical cards or laser cards. Smart cards are microprocessorequipped cards that work with card readers installed in the puters of consumers, an access device and a selfcontained store of value. Chapter3: International Settlement Instruments Exercise: 天津紡織品進(jìn)出口公司出口美國 ABC Trade Co. (add: Room15, the 10th floor Great Building, Revenue Street, ., USA)一批貨物 ,金額為 23845美元 .假定天津紡織品進(jìn)出口公司于 2021年 12月 5日簽發(fā)以其指定人為為收款人、見票后 60天付款的遠(yuǎn)期匯票，請代替天津紡織品進(jìn)出口公司完成下列行為： 1）出具匯票。 2）指定付款人于 2021年 12月 12日承兌匯票，完成匯票的普通承兌行為。 3）計算匯票的付款到期日。