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Documentary credits are separate transactions from the sales contract with which they are related an

d Letter of Credit can be divided into many kinds depending on the circumstance. A documentary credit may be available by payment, by negotiation or by acceptance.(1)means that the minated bank will pay the beneficiary the full amount due once he submits the contract documents equired under the credit. Under a(2), the beneficiary is given double assurance of payment since the confirming bank has added its own undertaking to that of the opening bank. If a credit can be transferred by the original beneficiary to one or more parties, it is a(3)If a credit stipulated that its amount can be renewed without specific amendment to the credit being made, it is then a(4).(5)are those that cannot be amended or revoked without the consent of all the parties concerned.

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发布时间：2022-12-04

更多“Documentary credits are separate transactions from the sales contract with which they are related an”相关的问题

第1题

The Supplement to the Uniform Customs and Practice for Documentary Credits for Electronic Presentati

on (eUCP) supplements the Uniform Customs and Practice for Documentary Credits (UCP). The eUCP will apply to a credit that must indicates as follows:

(1)( ) This credit is subject to eUCP.

(2)( ) This credit is subject to UCP600 and eUCP.

(3)( ) This credit is subject to UCP600 and its supplement.

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第2题

According to Uniform Customs and Practice for Documentary Credits, " about" should be inte

rpreted as not exceeding 5% of the total quantity.

参考答案：错误

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第3题

The beneficiary of a credit wishes to use it as the means of payment to obtain funds to meet the pro

ceeds required by the actual supplier's goods. Which of the following documentary credits could the Issuing Bank issue to meet the beneficiary's needs？

(1)( ) Transferable

(2)( ) Back-to-Back

(3)( ) Standby

(4)( ) Revolving

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第4题

Claim reimbursement by means of a Time draft A Credit available by acceptance 1.Name of Issuing Ba

Claim reimbursement by means of a Time draft

A Credit available by acceptance

1.Name of Issuing Bank Place and date of issue

Dresdner Bank Hamburg, 15 April, 200 x

To: China National Light Indus- This Credit is advised through

trial Products Imp. & Exp. ICBC, Tianjin

Corp., Tianjin Branch,

Tianjin

Dear Sirs,

By order and for account of the applicant, we hereby issue an Irrevocable Documentary Credit No. H169087 for USD25,730.00 to expire on 31 May, 200× at Tianjin available with The Industrial and Commercial Bank of China, Tianjin by acceptance against beneficiary's draft at 90 days sight drawn on ICBC, Tianjin (advising bank) and the documents detailed herewith:

______________________________________________________________________________

Partial shipments not allowed. Transhipment allowed.

All charges outside Issuing Bank's country including acceptance commission are for account of beneficiary.

______________________________________________________________________________

If this Credit shall be duly accepted on presentation to drawee bank and duly honoured at maturity.

______________________________________________________________________________

Bank-to-Bank Instructions:

Accepting bank is to draw their time draft on Bank of America, New York payable at a fixed future time i. e. maturity of accepted beneficiary's drafts.

Reimbursements under this Credit are subject to the Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credit, ICC Publication No. 725.

From: Dresdner Bank, Hamburg

To: Bank of A.merica, New York

Reimbursement Authorisation

We hereby issue a Reimbursement Authorisation to you to accept and pay a time draft drawn on you subject to Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits, ICC Publication No. 725 upon receipt of such draft presented by the Claiming Bank——The Industrial and Commercial Bank of China, Tianjin in accordance with the following:

(1)Credit number: H169087

(2)Currency and amount: USD25, 730. 00

(3)Additional amounts payable: no

(4)Claiming Bank: ICBC, Tianjin

(5)Parties responsible for charges: beneficiary

(6)Tenor of draft: maturity of accepted beneficiary's draft

(7)Drawer: ICBC, Tianjin

(8)Party responsible for acceptance commission: beneficiary

beneficiary's draft

Due 3 August, 200×

Exchange for USD25, 730. 00 Tianjin, 4 May, 200×

At 90 days sight pay to the order of

Ourselves the sum of

US dollars twenty five thousand seven hundred and thirty only

Drawn under Dresdner Bank, Hamburg L/C No. H169087 dated 15 April, 200×.

To The Industrial and Commercial

Bank of China, Tianjin For China National Light

Industrial Products Imp.

& Exp. Corp., Tianjin

Branch, Tianjin

signature

ACCEPTED

5 May, 200×

to mature

3 Aug., 200×

For

The Industrial and

Commercial Bank of

China, Tianjin

signature

4.Please fill the following particulars in two blank forms to write a Letter of Reimburse Claim and to issue a Time Draft:

(1)Addressee or drawee: Bank of America, New York

(2)Sender or drawer: The Industrial and Commercial Bank of China, Tianjin

(3)Amount: USD25,730.00

(4)Date of Letter of Reimbursement Claim and Draft: 24 July, 200×

(5)Predetermined reimbursement date: 3 Aug., 200×

(6)Payee: ICBC, Tianjin

(7)Accounting procedure: crediting our Head Office account with you under your telex advice to us quoting our Ref. No. BP87654321.

(8)Drawn clause: Drawn under Dresdner Bank, Hamburg L/C No. H169087 dated 15 April, 200×

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第5题

Complaints caused by not delivering according to the time and quantity In the fall of 2006 ,one of

Complaints caused by not delivering according to the time and quantity

In the fall of 2006 ,one of our trading companies concluded a substantial rice business with an old customer in Africa. The terms of delivery are : shipment is to be made in equal monthly lots beginning from December,2006 to June,2007 and payment is to be made by irrevocable letter of credit 60 days after the date of the bill of lading. The customer established the L/C in time and all particulars of the rice, such as the name , specifications , unit price,total price and total quantity are in conformity with the contract. But the terms of shipment only stated " the latest date of shipment is June 30 ,to be shipped in several lots".

The staff in our trading company made the first shipment in December according to the quantity stated in the contract. However in order to export more and eam more foreign exchange earlier, they advanced the time of shipment regardless the shipment terms stipulated in the contract. In January 2007 , our company shipped the quantity of the first quarter once , and in February made the third shipment for the rest quantity that should be delivered in the second quarter, since our staff had not found any specifications "shipment is to be made in equal lots" in the L/C. At the same time our bank negotiated against presentation of the stipulated documents and subsequently asked the opening bank to pay for the goods. The opening bank examined the L/C and confirmed that the L/C had no error in it.

After receiving the shipping advice, the African customer found that the delivered quantity of the rice both in the second lot and third lot were not in accordance with the shipment terms stipulated in the contract, so a claim was filed by the customer against our trading company for default shipment. The amount claimed involved the added fees of chartering warehouse for the delivered goods, the interest and other charges etc. The two parties negotiated the compensation for several times, finally our company accepted the opposing party's opinion and agreed that the purchase price for the last two lots was to be paid four months later, that meant our company would receive the payment a few months later than che original stated time. According to Lhe current price in the international market at that time, our trading company suffered the loss equivalent to 10 percent of the original selling price.

Questions :

(1) What is the relationship between the letter of credit and the transaction contract？

(2) Which proof must the two parties concerned base on when they perform their obligations？

(Translate the case into Chinese and then answer the question)

Helpful hint: It is stipulated in Article 4 of the Uniform Customs and Practice for Documentary Credits that "in credit operations all parties concerned deal in documents and not in goods , service and/or other performance to which the documents may relate" .

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第6题

Deferred Payment Credits

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第7题

We are sorry to let you know that neither of the relative _______has reached us yet.

A.letter of credit

B.letter of credits

C.letters of credit

D.letters of credits

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第8题

Exports are of two main kinds, goods and services, the former being known as visible items and the s

econd as invisible. Over a period of time the total value of exports should balance with the total value of imports. To the extent that exports exceed imports we are said to have a favorable balance of payments. To the extent that importers exceed exports the balance of payments is said to be unfavorable or adverse.

Napoleon once called the British " a nation of shopkeepers" . That was intended as an insult , but had he called us a nation of traders it could not have been disputed. In Britain we buy and sell more per head of population than the people of any other country. Our island is too small to grow enough food for our people and so we need to eam enough from our exports to sustain our population.

One complication of export trade is that each country has its own independent currency system; and another is that many countries impose custom duties or other restrictions on imports.

The would-be exporter is faced with a number of problems. First there is the need to find a customer for his goods. The actual operation of selling is made more difficult because of language barriers and cultural differences. There are also additional transport problems because of the greater distances involved and often unfamiliar territories. When the manufacturer turns from selling at home to selling overseas, his problems are magnified. This is particularly true in terms of finance.

The first financial problem facing the exporter is the time taken to deliver his goods. There could be a long delay while his merchandise is in transit between London and, say, Karachi. He has incurred the costs of production, but when is he going to be paid？ The second problem is even more serious. How sure can he be that he is going to be paid at all？ And even when he receives payment his troubles may not be over. If he is paid for his goods in other currency other than sterling, and what if the other currency has fallen in value since the contract is made？ These are the perennial problems for the exporter.

Fortunately for our exporters and for our economy generally, help is available both from the government and the banks. From the government side, the Export Credits Guarantee Department offers British exporters, in return for a fee, insurance against bad debts incurred as a result of sales to foreign buyers. The Export Intelligence Department also helps by providing them with useful advice and information. The most straightforward method of financing the operations for the exporter is to borrow the necessary funds from his bank. This way he can ship his goods abroad and draw on his bank for the funds needed to carry on production while he is awaiting the proceeds. But of course the borrowings from the bank will lower his p rofit margins.

Another method of financing international trade is by documentary credit. A document known as a bill of exchange is drawn by the importer in favor of the exporter and, although the bill of exchange is a very convenient method of payment for oversea trade, once again it serves to reduce the profit margin for the exporter.

Questions for reading :

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第9题

Sight credits mean that the issuing bank effects payment or negotiation immediately upon receipt of

Sight credits mean that the issuing bank effects payment or negotiation immediately upon receipt of the drafts and/or other documents that are in conformity with the credit stipulations.( )

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第10题

documentary credit

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第11题

The adjusted trial balance verifies that total debits equals total credits before the adjusting entries are prepared.（)

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