教学课件 国际贸易理论与实务（英文版）（第四版）.ppt

① Issuance The drawer’s action of drawing and giving out of a draft. Upon issuance, the drawer has a contingent liability (或有负债) on the bill until it matures as, in the event of default by the acceptor, the drawer is obliged to pay out the face value of the bill on its due date to the holder. ② Presentment: a demand to pay or accept the draft made to the drawee. ③ Acceptance An agreement generally on the part of the drawee to pay the bill. Simply writing down the word “accepted”, marking the date and signing its name across the face of the bill. Upon acceptance the drawer, now the acceptor, becomes the principal debtor and the party primarily liable for the payment of the bill. The drawee is under no legal obligation to accept the bill, even if he is indebted to the drawer to the amount of the bill, or has funds of the drawer in its possession to that amount, unless he has agreed to accept it. ④ Payment: On the expiry date of draft, the payer makes sufficient payment to the legal bearer, the latter then writes off the draft and return it to the payer as a receipt.  ⑤ Endorsement: The act of a payee, drawee, or holder of a draft in signing the back of the draft to transfer rights in the draft to another. In financial market, the typical endorsement is discount (贴现) of draft, i.e., the bearer transfers a time and accepted draft to a bank or a discounting company, who, as transferee, will deduct the interest as per discount rate and pay the remaining sum to the bearer. The payee appears as the first endorser on the reverse of the bill and this endorsement starts the chain of ownership of the bill. ⑥ Dishonor and recourse Dishonor: the payer refuses or fails to pay or accept the bill when the holder makes presentment to him. When dishonored, the holder shall pursue the right of recourse by giving notice of dishonour to the drawer and each endorser. ⑦ Protest An official certificate evidencing the act of dishon