国际结算英文专业术语词汇

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1、国际结算专业词汇AAcceptanceThe act of giving a written undertaking on the face of a usance bill of exchange to pay a stated sum on the maturity date indicated by the drawee of the bill, (usually in exchange for documents of title to goods shipped on D/A terms) - see Collections Introduction.Acceptance Credi

2、tA documentary credit which requires the beneficiary to draw a usance bill for subsequent acceptance by the issuing bank or the advising bank or any other bank as the credit stipulates - see Documentary Credits.Accommodation BillIn the context of fraud, a bill drawn without a genuine underlying comm

3、ercial transaction.AccounteeAnother name for the applicant/opener of a documentary credit i.e. the importer = the person for whose accountthetransaction is made.Advice of FateThe Collecting Bank informs the Remitting Bank of non- payment/non-acceptance or (for D/A bills) of acceptance and the bill m

4、aturity date - see Handling Import Collections.AdvisingAct of conveying the terms and conditions of a DC to the beneficiary. The advising bank is the issuing bank agent, usually located in the beneficiary country - see Export - DC Advising.Advising also involves authentication i.e. advising bank sho

5、uld take reasonable care to check the apparent authenticity of the credit (ICC UCC 500 Art 7).AmendmentAlteration to the terms of a DC; amendments must stem from the applicant, be issued and advised to the beneficiary; the beneficiary has the right to refuse an amendment if the credit is irrevocable

6、 - see Amendments to DCs.ApplicantOne who applies to his bank to issue a documentary credit; in the majority of credits issued the applicant is an importer of goods.AvaliseThe act by a bank in guaranteeing payment of a bill of exchange or promissory note by endorsing the reverse with the words good

7、per aval and signed by the bank, or by the issuance of a separate guarantee.BACK TO TOPBack-to-Back CreditA credit issued against the security back of another credit (master credit) on the understanding that reimbursement will stem from documents eventually presented under the first credit (master c

8、redit) issued- see Special DCs. It followstherefore that each side of a B/B transaction covers the shipment of the same goods.BeneficiaryA payee or recipient, usually of money.A party in whose favour a documentary credit is established, usually the exporter.Bill for Collection (BC)Document(s) or che

9、que submitted through a bank for collection of payment from the drawee.Bill of Exchange (B/E)An unconditional order in writing, addressed by one person to another, signed bythe person giving it, requiring theperson to whom it is addressed to pay on demand or at fixed or determinable future time a su

10、m certain in money to or to the order of a specified person, or to bearer.Bill of Lading (B/L)A receipt for goods for shipment by sea. It is a Document of Title: see Documents.Bill Receivable (BR)Bills which are financed by the receiving branch, whether drawn under a DC or not, are treated as BRs by

11、 both the remitting branch and the receiving branches - see Bills Receivable.Blank EndorsedWhen a bill of lading is made out to order or shipper order and the shipper has signed on the back of it, it is said to be blank endorsed. The bill of lading then becomes a bearer instrument and the holder can

12、 present it to the shipping company to take delivery of the goods.BACK TO TOPCarrierPerson or company undertaking for hire the conveyance of goods e.g. shipping companyCase of NeedAgent nominated by a principal, to whom the collecting bank may refer in specified circumstances concerning collections

13、- see the sections on Collections.ChaserReminder sent by the collecting (or DC issuing) bank to the importer, repeating a request for payment - see Handling Import Collections.CleanUsed to describe a draft/cheque with no shipping documents - see Collections Introduction.Used to describe a bill of la

14、ding without clauses that expressly declare a defective condition of the goods or the packing.Clean Bill PurchasedA collection bill purchased with no shipping Purchase documents - see Financing Export Collections.Clean Bill Receivable (CBR)BR (Bill Receivable) with no shipping documents. The term is

15、 more often used for non-trade bills such as travellers cheques.Clean CollectionA draft with no documents Collection attached - see Collections ?Introduction?Clean Import Loan (CIL)A loan granted to an importer for payment of import bills, without the Bank having any claim to the goods.Collection Ba

16、nkBank in the drawee country that is instructed to collect payment from the drawee - see Collections Introduction.Collection OrderForm submitted, with documents, to the Remitting/Negotiating Bank by an exporter with his instructions - see Collections ?Introduction.ConfirmingAct of a bank other than

17、the issuing bank assuming the liabilityfor payment, acceptance or negotiation of correctlypresented documents under a DC - see Confirmation of DCs.ConsigmentShipment of goods.ConsigneeThe person/company/bank to whom the goods are delivered - usually the importer or the Collecting Bank - see Handling

18、 Import Collections.ConsignorAlso called shipper, is the person/company who sends goods by ship, by land or air.Contingent LiabilityA liability that arises only under specified conditions, e.g. when a bank opens a DC it incurs an obligation to make a future payment on condition that the terms are fu

19、lly met.BACK TO TOPDC BillsBills drawn under documentary credits.Deferred Payment Credit (DPC)A DC which allows the nomination of a bank, or the issuing bank to effect payment against stipulated documents at a maturity date as specified or determinable from the wording of the credit.DemurrageA charg

20、e made by a shipping company or a port authority for failure to load or remove goods within the time allowed.DiscountingAct of purchasing an accepted usance bill of exchange at an amount less than the face value.DiscrepancyAny deviation from the terms and conditions of a DC, or the documents present

21、ed thereunder, or any inconsistency between the documents themselves - see Negotiation under DCs.DishonourNon-payment or non-acceptance.Documentary Credit (DC)A conditional undertaking by a bank to make payment, often abbreviated to credit. More precisely, it is a written undertaking by a bank (issu

22、ing bank) given to the seller (beneficiary) at the request of the buyer (applicant) to pay a sum of money against presentation of documents complying with the terms of the credit within a set time limit.DocumentsThe characteristics and importance of the various documents associated with Import/Expor

23、t operations are explained and illustrated in Deciding on Documents.Documents Against Acceptance (D/A)Instruction for commercial documents to be released to the drawee on acceptance of the Bill of Exchange - see Collections ?Introduction.Documents Against Payment (D/P)Instruction for documents to be

24、 released to the drawee only on payment - see Collections ?Introduction.Documents of TitleDocuments that give their owner the right to the goods, i.e. Bill of Lading.DraftBill of exchange issued by an exporter and submitted to his bank for collection, or under a DC - usually submitted with attached

25、shipping documents - not to be confused with a bankers draft which is sometimes used as a vehicle forreimbursement.DraweeParty on whom a bill is drawn and the one to whom presentation is to be made according to the collection order - the importer (NB: for DC bills, the drawee is usually the DC issui

26、ng bank).DrawerThe exporter, who draws the Bill of Exchange/draft which in itself is a claim for payment.Due DateMaturity date for paymentBACK TO TOPEExpiry DateLatest date, usually in the country of the beneficiary, on which negotiation/payment of a DC can take place. BACK TO TOPFinanced BillsBills

27、 sent on collection in which the remitting branch has a financial interest.Foreign Bill Purchased (FBP)A bill remitted to a correspondent bank in which the remitting branch is financing the exporter - see Financing Export Collections.Forward Exchange ContractContract between the Bank and its custome

28、r to buy/sell a fixed amount of foreign currency at a future date at a specified rate. This could be for a customer to make payment under a DC or to sell the proceeds received from an export negotiation.FreightGoods OR the cost of transporting goods. BACK TO TOPGGeneral AverageLoss which is the resu

29、lt of a sacrifice voluntarily made or an expense incurred; for the sole purpose of saving a ship and its cargo in face of a common danger (e.g. jettison of cargo to lighten a ship in distress). The loss is borne proportionately by ship and cargo owners according to their respective interests in the

30、voyage.Gross WeightThe weight of the merchandise in its shipping form, i.e. including all its packaging.BACK TO TOPICC 322Uniform Rules for CollectionsICC 323Standard Forms for Issuing Documentary CreditsICC 420Guide to the Prevention of International Trade Fraud.ICC 460Incoterms 1990. Explains the

31、13 standard Incoterms.ICC 500Uniform Customs and Practice for Documentary Credits (1993 revision) replaced the previous ICC 400 as from 1 January 1994.ICC 522Uniform Customs and Practice for Documentary Credits (1995 revision) replaced the previous ICC 322 as from 1 January 1996.Import LicenseA perm

32、it issued by the importing countryS authorities in respect of goods subject to import licensing restrictions.IncotermsShipping Terms - see Introduction to International Trade.IndemnityAlso known as Letter of Guarantee (L/G), it is an undertaking given in respect of discrepancies in documents present

33、ed under a credit. The beneficiary who issues the indemnity is primarily liable to repay funds received from the negotiating bank in settlement under the credit, if the negotiating bank cannot obtain reimbursement from the issuing bank as a result of documents being rejected by the applicant.Inheren

34、t ViceThe propensity of a commodity to self-destruction which gives rise to a high insurance risk, therefore cover is given only after payment of an additional premium (e.g. fruit rots, coal-dust spontaneously ignites).International Chamber of Commerce (ICC)The international body which promotes and

35、facilitates world trade, and which codifies world trade practices in various publications - see ICC Rules?under Introduction to International Trade.Irrevocable CreditConstitutes a definite undertaking of the issuing bank and the confirming bank, if any, to honour the credit provided the terms of the

36、 credit are observed. It may be advised to the beneficiary without engagement by the advising bank, and cannot be amended or cancelled unless the issuing bank, the confirming bank and the beneficiary agree.Issuing BankThe bank that opens a documentary credit at the request of its customer, the appli

37、cant. BACK TO TOPLLetter of Credit (L/C)American term for documentary credit. In the United States, the terms D/C can often be confused for documentary collection.Letter of HypothecationA promise to hold goods as security taken from customers who are granted loans against goods imported on a collect

38、ion basis.Loan Against Imports (LAI)Loans granted to import customers for payment of bills. BACK TO TOPMMaster CreditIn back-to-back operations, the original export credit against which the second credit is openedMaturityDue date of payment of a usance bill or promissory note.BACK TO TOPNNegotiable/

39、Non-NegotiableUsually used with regard to Bills of Lading: a negotiable B/L is a valid document of title, while a non-negotiable B/L is not - the beneficiary of a DC (the exporter) may send the importer a non-negotiable B/L for information.NegotiationPurchase of drafts under a documentary credit whi

40、ch the issuing bank has undertaken to pay.Net WeightThe weight of the merchandise before any packaging.Non-DC BillsBills not drawn under DC i.e. sent on a collection basis (D/P or D/A). In common usage we distinguish between Non DC bills which are financed collections and DCs which are non-financed.

41、Non-Financed BillsBills sent on collection in which the remitting branch has no financial interest.NotingThe first stage in protest of a dishonoured bill: if instructed to protest for non-payment/non- acceptance, the collecting bank must send the bill to a notary public who will represent it to the

42、drawee on the same day it was refused, or the next business day. If the drawee still refuses the bill the notary public notes on the bill: the amount of his charges, the date and his initials. The reason for refusal is shown on a note attached to the bill. The bill is then protested - see Protest.BA

43、CK TO TOPOpenerSee Applicant.Opening BankSee Issuing Bank.Order (To)The phrase To Order is sometimes shown on Bills of Lading against consignee: this means that the Bill of Lading must be endorsed in blank by the shipper (i.e. not to any particular named party which makes it bearer document and it b

44、ecomes transferable by delivery.)BACK TO TOPPacking CreditA loan given to the beneficiary by the bank to enable him to purchase raw materials. The beneficiary is usually requested to deposit the DC with the bank as security.Past DueBill or loan that has not been paid on the maturity date/due date.Pa

45、ying BankThe bank that makes payment to the beneficiary of a payment DC after presentation to it of documents stipulated in the DC.Perils of the SeasThey are accidents or casualties of the sea. The ordinary actions of the winds and waves are not included. Heavy or tempestuous weather on a voyage is

46、of sufficient violence to constitute a peril of the sea.Power of AttorneyAuthority given to one party to act for another.PresentationAct of requesting the importer 抯 payment/acceptance of an import bill. - See Handling Import Collections.Presenting BankThe bank that requests payment of a collection

47、bill - may be the Collecting Bank or its nominated branch or local correspondent, which is better placed to contact the importer.PrincipalThe exporter in collection transactions, being the initiator of the transaction, whose instructions are followed at all stages (may be used to refer to any custom

48、er who initiates a transaction e.g. the opener of a DC).Promissory NoteA signed statement containing a written promise to pay a stated sum to specified person at a specified date or on demand.ProtestThe formal representation of a dishonoured bill of exchange: the bill is presented by a notary public

49、 to the drawee - if refused again, it is noted?- see noting. The notary public then issues a formal protest, an official certificate that the bill has been refused: the drawer can use this certificate to sue the drawee in court.BACK TO TOPRRecourseThe right to claim a refund from another party which

50、 has handled a bill at an earlier stage.Red Clause CreditA credit with a clause which authorises the advising bank to make an advance payment to the beneficiary - see special DCs.Reimbursing BankThe bank nominated by the DC issuing bank that will pay the value of the DC to the negotiating/paying ban

51、k.Remitting BankThe exporters bank in collection transactions, which remits the bill to the collecting bank.The exporters bank in DC transactions, which dispatches the documents to the issuing bank.RetirementThe act of paying or settling an outstanding bill or import loan; i.e. payment by the import

52、er to the Bank.Revocable CreditOne that may be amended or cancelled without notice to the beneficiary.Revolving CreditA credit automatically reinstated after each drawing or upon receipt of authorisation from DC issuing bank, with limits as to the duration of the facility and as to the (cumulative o

53、r non-cumulative) amount involved for each drawing - see Special DCs.BACK TO TOPSScheduleThe Remitting/Negotiating Banks letter covering a bill sent to the Collecting/Issuing Bank, which lists the documents attached and gives collection and/or payment instructions.Self-LiquidatingA transaction is sa

54、id to be self-liquidating when there is a known source of funds available for its settlement on due date.Shipment DateThe date inserted on the bills of lading evidencing goods received on board is regarded for documentary credit purposes as being the date of shipment.ShipperSee consignorShipping Gua

55、rantee (SG)Guarantees of this nature are required to enable customers to obtain goods before the arrival of the documents of title, and are issued to the shipping companies by the Bank against an undertaking to forward the bills of lading when they are received. The Bank normally take 100% cash marg

56、in against the value of the goods if the customer does not have T/R facility.Shipping TermsSee IncotermsSightA bill payable at sight is payable on presentation to the drawee i.e. on demand.SnagsIrregular bills; import and export.Standby CreditThis may be established as security for facilities grante

57、d at another branch or bank, usually to a subsidiary of the DC applicant. - see Special DCs.Status ReportProduced by a banks TCI department or a credit information bureau, giving details of the creditworthiness and business background of traders and manufacturers.SubstitutionThe act whereby the prim

58、e beneficiary substitutes his own documents i.e. invoices and drafts, in back-to-back and transferable credit operations prior to negotiation of the master credits.BACK TO TOPTenorTerm or Period of credit granted by the drawer. See Usance Bill.TracerSee Chaser.Trade and Credit Information (TCI)A ban

59、k department that prepares and distributes status reports on its own customers, and maintains records of traders and manufacturers with whom its customers deal.Transferable CreditPermits the beneficiary to transfer all or some of the rights and obligations under the credit to a second beneficiary or

60、 beneficiaries - see Special DCs.TransfereeA party (2nd beneficiary) to whom a transferable credit is transferred in whole or in part.TransferorA party (1st beneficiary) at whose request a transferable credit is transferred to a second beneficiary in whole or in part.BACK TO TOPUUniform Customs and

61、Practice for DCsSee ICC 500Uniform Rules for CollectionsSee ICC 522Usance BillA Bill of Exchange which allows the drawee a term or period of credit (this period is also called usance).The term is usually stated in days (e.g. 30 days) or months and starts either from the date of the bill (e.g. 30 day

62、s date) or from the date of bill of lading, or from sight by the drawee (e.g. 30 days sight) which in practice means from the date of acceptance.An essential feature of acceptance credits and D/A collections. BACK TO TOPWWaiveTo relinquish a right: used in collections with BC charges and/or interest to be collected from the drawee: these can be waived in certain circumstances as set out in ICC 522.BACK TO TOP