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羿建华
International Settlement
Chapter 1 Introduction to international settlement
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Why should we study this course in English?
Lay down a good foundation for the future work concerning international trade and payments
Due to the need of globalization and the entry into the WTO
Because it is a major resource of commercial banks’ profit
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Section 1 Definition, category and contents
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Definition
The financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another for the purpose of settling accounts, debts, claims, etc.
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Trade settlement: payments for visible trades
Non-trade settlement:
1、invisible trade settlement：
payments for services, technology transfer,
patents and copyright contracts, etc
2、financial transaction settlement：
buying and selling of financial assets, overseas
money-raising and investing
3、payments between governments:aids and grants
4、others: overseas remittances, inheritances, etc
Category of international settlement
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Contents of the course:
Negotiable instruments(票据)
bills of exchange, promissory notes, checks
Payment techniques
remittances, collections, letters of credit, bank guarantees
Documents
bills of lading, insurance policies, certificates of origin, etc
Financing activities
Discount, international factoring and forfaiting
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Section 2 Evolution and the related customs and practice
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From cash settlement to non-cash settlement
From goods trading to documents trading
From simple price terms to complex price terms
From paper documents to electronic settlement
SWIFT CHIPS CHAPS FEDWIRE TARGET
Evolution of international settlement
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