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Players and their roles
• Exporter
to get prompt payment; minimize non-payment risks
• Importer
to receive goods as ordered; pay as late as possible
• Financial intermediary
Documents:
bills of lading,insurance policies, certificates of origin, etc
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Category of international settlement
• Trade settlement: payments for visible trades
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SWIFT(Society for worldwide interbank financial telecommunication)环球同业银行金融电讯协会
特点:标准化;安全可靠,自动加核密押;高速度,低费用. 业务分类:客户汇款(customer transfer);银行头寸调拨 (bank transfer);外汇业务(foreign exchange confirmations);托收业务(collections);证券业务 (securities);贵金属和银团贷款业务(precious metals and syndication);信用证和保函(documentary credits and guarantees);旅行支票(travelers cheques);银行帐单处理 业务(statements).
• Non-trade settlement:
1、invisible trade settlement： payments for services, technology transfer,
patents and copyright contracts, etc 2、financial transaction settlement：
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3
Negotiable intsruments(票据):
bills of exchange, promissory notes, checks
Payment techniques:
remittances,collections, letters of credit, bank guarantees, international factoring and forfaiting
International ent
Wangshu
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Chapter One Introduction
❖ Concept ❖ Category ❖ Evolution ❖ Players and theirs roles ❖ Factors in payment decisions ❖ Characteristics and developing trend ❖ Correspondent banking relationship
1. the scale and scope of international settlement get greater and greater
2. International lending and financing is closely combined with international payments
payment effected through a financial intermediary
safety, high efficiency, low cost, standardization
• Electronic settlement
SWIFT CHIPS CHAPS FEDWIRE TARGET
commercial risks, financial risks; political risks; risks in control of title to the goods,etc. ❖ convenience; ❖ cost; ❖ commercial competitiveness
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Characteristics and developing trend
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2
Meaning of International Settlement
the financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle claims and debts,emerged in the course of political ,economic or cultural contacts among them.
to maximize revenu. es; credit risks associated8
Factors in the payment decision
To exporters: ❖ protection against non-payment risks
by the importers, such as:
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Evolution of international settlement
• From cash settlement to non-cash settlement • From goods trading to documents trading • From direct payment between traders to
buying and selling of financial assets, overseas money-raising and investing 3、payments between governments：aids and grants 4、others: overseas remittances, inheritances, etc