【正文】 ing it, requiring the person to whom it is addressed to pay on demand or at a specified or determinable future time a sum certain in money to or to the order of a specified person or to bearer. 必要項(xiàng)目 匯票字樣， bill of exchange 出票日期和地點(diǎn)（ date and place） 付款期限（ tenor） 無條件付款命令， pay to sb.…… 收款人（ payee） 受票人或付款人（ drawee/payer） 出票人（ drawer） 匯票金額（ amount） Chapter3: International Settlement Instruments ? the date and place of issuance Functions: to determine whether the presentation of the draft has expired。 Part4： 國(guó)際結(jié)算中的業(yè)務(wù)風(fēng)險(xiǎn)及防范 ? Droit flaws（票據(jù)的所有權(quán)缺陷） – 持票人對(duì)票據(jù)享有的所有權(quán)有缺陷。 Part4： 國(guó)際結(jié)算中的業(yè)務(wù)風(fēng)險(xiǎn)及防范 ? Falsification of bills（票據(jù)的變?cè)欤? – 所謂票據(jù)的變?cè)?，是指無權(quán)變更票據(jù)記載事項(xiàng)的人，擅自變更票據(jù)上的（除簽章外）的記載事項(xiàng)的行為。 Transfer: B/L, warehouse receipt, dock warrants, quasinegotiable instrument。 Chapter3: Credit Instruments International Settlements 我國(guó)票據(jù)權(quán)利時(shí)效的規(guī)定： 持票人對(duì)票據(jù)的出票人和承兌人的權(quán)利，自票據(jù)到期日起兩年； 持票人對(duì)支票出票人的權(quán)利，自出票日起六個(gè)月； 持票人對(duì)前手的追索權(quán)，自被拒絕承兌或者被拒絕付款之日起六個(gè)月； 持票人對(duì)前手的再追索權(quán)，自清償日或被提起訴訟之日起三個(gè)月； 持票人因超過票據(jù)權(quán)利時(shí)效或者因票據(jù)記載事項(xiàng)欠缺而喪失票據(jù)權(quán)利的，仍享有民事權(quán)利，可請(qǐng)求承兌人返還其與未支付的票據(jù)金額相當(dāng)?shù)睦妗?? Uniform Law for cheques Signed at Geneva, 1931. ? The difference between the above two frameworks: Chapter3: Credit Instruments International Settlements United Nations Framework ? Convention on International Bills of Exchange and International Promissory Notes, 1987。 ? (4) capital paid in foreign exchange by Chinese investors of foreignfunded enterprises。 ? (2) foreign exchange of domestic entities for repayment of principal of domestic and external foreign exchange liabilities。 Chapter 2 Banks’ Clearing System In International Settlements ? (5) foreign exchange of foreignfunded enterprises within a balance ceiling verified by SAFE。 Chapter 2 Banks’ Clearing System In International Settlements ? (3) project funds of enterprises with exportimport license in business of export of jumbo electronic equipment with total project funds reaching a specified sum and duration, or advanced and progress payments for projects under international bid。 Chapter 2 Banks’ Clearing System In International Settlements ? Foreign exchange accounts with domestic institutions – Foreign exchange accounts for current account transactions ? (1) foreign exchange working capital of domestic entities in executing overseas construction and other services contracts。 UK (CHAPS), Denmark (DEBES), Sweden (RIX). Chapter 2 Banks’ Clearing System In International Settlements – EPM ( European Central Bank Payment Mechanism) Purposes of TARGET: – to provide the payment procedures necessary for implementing the ECB’ s single moary policy。 ting systems are more efficient from the point of view of the munications and processing capacity employed. Chapter 2 Banks’ Clearing System In International Settlements Disadvantages of ting payment system: These systems expose participants to a settlement risk, as they are implicitly giving each other unsecured credit on the basis of payments that are not immediately settled in final terms. Components of CHIPS: Chips participation (CP) and chips universal identifier (CH) Chapter 2 Banks’ Clearing System In International Settlements Procedures of CHIPS (P299): member banks send instructions to CHIPS regarding transfers that they wish to make to other banks in New York City。 Chapter 2 Banks’ Clearing System In International Settlements The Fed credits the reserve account of the payee’s bank and debits the reserve account of the payer’s bank. The Fed Wire provides a confirmation number to the payer so that the transaction can be traced。 Interbank transfers between different cities. ?Ⅱ USD foreign exchange system: – FEDWIRE: a fund transfer system operated nationwide in the USA by the Federal Reserve System to transfer funds from one financial institution to another with an account balance held with the Fed. Chapter 2 Banks’ Clearing System In International Settlements Realtime gross settlement system: usually operated by central banks, in which each payment order is settled immediately upon its entry into the system in its entire (gross) amount. Chapter 2 Banks’ Clearing System In International Settlements Procedures of Fed Wire: A payer gives an instruction to a bank in which the payer has an available balance。 and a vostro account is an overseas bank’s account with our bank denominated in RMB. Chapter 2 Banks’ Clearing System In International Settlements ?Ⅰ funds transferring system in China Intracity transfer between different banks。 Providing banks with foreign exchange facilities, including mercial and traveler’s checks。 Making loan or investments as agents for their customer banks。 requires that the buyer have a high level of confidence in the ability and willingness of the seller to deliver the goods as ordered. ? open account, O/A， provides the least risk for the buyer and the greatest risk for the seller. Chapter 2 Banks’ Clearing System In International Settlements ? 1. Reasons for the establishment of banks’ clearing system ? objective reasons ? subjective reasons ? 2. ponents ? (1) global business web system ? branches ? correspondent bank: a bank having direct connection or friendly service relations with another bank. Chapter 2 Banks’ Clearing System In International Settlements Bank letter： a sample Agency agreements: a sample control documents: Ⅰ lists of specimen of authorized signatures: for authentication of the messages, letters, remittances, letter