国际结算chapter 2.ppt

what is negotiable instruments Documents are playing more and more important roles in international settlement because payments are made against documents rather than the actual goods. what is negotiable instruments Negotiable instruments: understand from words meaning Negotiable:ransferable from one person to another by delivery or by delivery and endorsement Instrument:Written legal document Negotiable instruments: Simple definition Written legal document which can be transferred from one person to another by delivery or by delivery and endorsement(背书） what is negotiable instruments Negotiable instruments: Professtional meaning A written promise or order signed by the maker to transfer a specified sum of money on demand or at a fixed future time to the person named on the instrument or to the bearer. Examples of negotiable instruments: Bill of Exchange Promissory Note Check what is negotiable instruments Essentials of a negotiable instrument Be in writing Be signed by the maker or drawer Be an unconditional promise or order to pay State a fixed amount of money Be payable on demand or at a definite time Be payable to order or to bearer Characteristics of Negotiable Instruments Right to be paid 设权性：Establishing the claim for a sum certain in money(票据创设了付给一定金额的请求权） The aim of issuing instrument is not to prove the existed rights and obligations, but to establish some rights and obligations. Characteristics of Negotiable Instruments 2.Non-causative 无因性： Accepting the instruments without investigating or questioning(票据是无因证券，不必追究原因的证券） Once the instrument is issued, rights on the instrument and reasons why instruments are created are separated，independent to each other.(票据一旦做成，票据上权利即与其原因分离，成为独立的票据债权债务关系，不受先前原因关系存在与否的影响） Characteristics of Negotiable Instruments Example: A deposit money in B, and A buys goods from C, then A issued an instrument to C, paid by B; C transfers the instrument to D because C once borrowed money from D; And D transfers the instrument to E fo