由一则案例看信用证项业务的“相符交单”

信用证支付方式强调结汇单据的“严格相符”原则。当受益人向银行提交结汇单据请求银行付款时,这些单据从表面上看必须严格符合信用证的要求,银行才予以付款,银行有权拒收与信用证条款不相符的单据。由于在实际业务中,单证人员对于“相符交单”的含义理解不够,不利于信用证业务的开展。因此本文试图通过对一则相关案例的分析,探讨信用证业务“相符交单”的含义。     

浅析信用证项下被指定银行对不符点的处理

信用证是传统的三大国际结算方式之一,各有关当事人处理的是单据,实行相符交单。审单标准是“单单一致,单证一致”。受益人要保证收汇一定要提供与信用证相符的单据,开证行拒付只能凭借单据上的不符点。本文拟对信用证项下不符点的内涵、产生原因及信用证项下被指定银行对不符点的处理提出相关建议。     

国际信用证欺诈的新特点及相关对策

一、近年来信用证欺诈新特点概述 传统的国际间信用证欺诈无非是:第一,受益人伪造单据,骗取银行付款,使得开证申请人财货两空;第二,开证申请人开出假信用证,取得单据骗取货物;第三,开证申请人伙同受益人以虚假的交易作为开证理由,开立空信用证,伪造单据,共同骗取银行的打包放款;第四,开证申请人利用"软条款"信用证,使受益人难以做到单证相符,从而拖延付款甚至拒绝付款.笔者对近年来国际间信用证诈骗的众多案例研究发现当今信用证诈骗又有一些新的变化,出现了一些新的形式.     

信用证下议付行追索权探讨

根据UCP600第2条,议付指被指定银行在受益人应获得偿付的银行日或在此之前,通过向受益人预付或同意预付款项的方式购买相符提示项下的汇票(汇票付款人为指定银行以外的银行)及/或单据融资行为。通过信用证议付,受益人获得了信用融资,议付行获取了相关手续费及利息,扩大了银行业务范围。然而,议     

国际商会公布《跟单信用证统一惯例(1974年修订本)》

国际商会制订的《跟单信用证统一惯例(1962年修订本)》,已于1974年12月再次修订,并于1975年10月1日正式使用。1974年修订本对原来的统一惯例修改较多,其中有些改动比较重要。例如,1974年修订本规定在使用信用证付款时,银行可以凭汇票付款,也可不凭汇票付款;要求一切信用证均须规定一个交单付款、承兑或议付的日期,如信用证无此规定,则按提单或其它货运单据签发日期后二十一天计算,逾期交单,银行有权拒收。又例,1974年修订本规定凡在同一船只、同一航次中,在不同装货口岸多次装运的货物,不作分批装运论;并规定可转让信用证的第一受益人可将该证转让给本国以外的第二受益人,等等。这     

拨云见日：UCP600信用证议付内涵解读

议付信用证因兼顾了受益人的资金融通需求与被指定人融资的安全保障而在信用证实务中使用最为广泛。UCP600语境下,被指定人对受益人的融资行为需满足四个要件方能构成有效议付。即议付主体必须是被指定人,议付本质必须是购买,议付前提必须是单据相符,议付方式必须是预付或同意预付。然开证人在信用证下授权自己议付亦无不可;议付购买的实质是单据相符下的付款请求权;议付前提中所谓单据相符,不限于单据客观相符;议付融资功能决定了被指定人的款项需在开证人偿付被指定人之前支付给受益人,但被指定人议付时无需告知开证人其已议付。     

延期付款信用证：能充当融资工具吗？——由英国伦敦商业法庭的一桩判决引起的争论

所谓延期付款信用证是受益人提示符合信用证条款规定的单据,在规定的到期日届至,开证行或其指定银行履行付款责任的信用证.延期付款信用证有两个重要特点:其一是交单时已确定付款的到期日.其二是远期付款但不需汇票.长期以来,对于延期付款信用证是否可普遍作为融资工具以及操作规则一直备受各国关注.前一时期英国伦敦商业法庭的一桩判决,彻底改变了延期付款信用证的传统观点.     

信用证项下受益人对偿付风险的防范措施

由于国际环境的变化,信用证结算方式的偿付风险陡增.受益人应从以下几个方面有效的防范信用证的偿付风险:多渠道审查开证行的资信、慎重选择合作银行、认真审核信用证,严格制单交单、努力提高业务人员素质、申请ICC DOCDEX规则裁定及投保出口信用险.     

信用证软条款的识别及风险防范

信用证是国际贸易结算中常用的支付方式,具有银行信用特点,可使受益人收汇得到保障。但信用证结算并非绝对安全,也存在一定风险,特别是"软条款"信用证。"软条款"(Soft Clause)信用证是开证申请人利用信用证这一银行信用工具,在信用证内开列一些灵活的、甚至受益人无法履行的条款,使受益人处于不利地位,导致受益人履约和结汇存在风险。软条款具有形式多样、隐蔽性强等特点,很难被察觉,给国际贸易带来一定负面影响。阐述信用证"软条款"的概念及其性质,列举了信用证软条款的常见类型,并且提出加强资信调查、提高外贸人员业务水平、充分发挥银行作用等风险防范措施。     

信用证项下不符点的产生及其预防

一、不符点是如何产生的 (一 )缺乏对信用证及 UCP的了解 大多数迸出口企业错误地以为信用证是一种百分之百安全的结算方式,能给他们的交易带来保险.殊不知信用证是开证银行的一种有条件的付款承诺,条件就是受益人在规定的时间内交付与信用证严格相符的单据,从实践看来,这个条件有时显得是那么的苛刻.再者,信用证无法保证买方付款后就一定能得到合同中所描述的货物,更无法保证卖方交单后就一定能从银行收到货款.     

Globalization and the U.S.Defense Industrial Base: The Competition for a New Aerial Refueling Tanker

The growth in the global economy and the trend toward outsourcing have given rise to concerns over the composition and strength of the U.S. industrial base and the degree of U.S. dependence on other countries for certain goods. The purpose of this article is to examine the concerns surrounding the alleged inroads of foreign manufacturers into the U.S. defense industrial base, as well as the background behind the concerns, with a specific focus on the recent competition over what may be one of the largest defense contracts in U.S. history to supply the United States Air Force with a new fleet of aerial refueling tankers. The article discusses the importance of imports and national defense spending in the U.S. economy, explores the dependence (or lack thereof) of the United States on foreign imports in the defense sector, explores strategies that have previously been deployed to reduce the role of foreign manufacturers in the U.S. defense industrial base, and examines in detail the recent tanker competition. The article argues that this competition required the deployment of innovative strategies on the part of the incumbent in the industry (Boeing) and the potential entrant (Northrop/EADS) in order to balance conflicting economic, political, and military procurement objectives.     

融合局部加权余弦与稀疏表示的目标跟踪算法

针对目标跟踪算法的鲁棒性难题，在粒子滤波框架下提出基于联合模型的目标跟踪算法。首先，由局部加权余弦相似对目标模板和候选目标进行匹配，其中的局部加权算法增加了未受遮挡、形变等影响的候选目标的权重；其次，通过对目标区域局部图像块稀疏编码来表示目标观测模型，其中字典不进行更新，重建误差的构建考虑了局部图像块之间的空间布局；最后，利用最大后验概率估计目标状态。联合模型将目标的当前状态和原始状态都考虑在内，提高了观测模型的可靠性。实验结果表明，该算法具有较强的鲁棒性。     

The Price of International Business Morality: Twenty Years Under The Foreign Corrupt Practices Act

Last year marked the 20th anniversary of the Foreign Corrupt Practices Act (FCPA) of 1977. The FCPA is the first and only statute prohibiting bribery and other corrupt business practices by U.S. citizens and companies conducting business overseas. This paper provides an overview of the FCPA during the two decades of its existence. More specifically, the objectives of this paper are four-fold. First, the paper provides background information about the FCPA of 1977 and subsequent amendments in 1988. Second, the paper discusses the enforcement of the FCPA since its passage by examining the number of cases prosecuted under the FCPA and the respective penalties imposed. Third, the paper discusses the economic impact of the FCPA by addressing whether the FCPA places U.S. firms at a competitive disadvantage. Fourth, the paper provides public policy recommendations to expand the reach and scope of the FCPA. It covers efforts to criminalize bribery through multilateral organizations, such as the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO), and the Organization of American States (OAS). It also covers bilateral arrangements and efforts by non-governmental organizations such as Transparency International.     

现代人力资源管理措施分析

在知识经济时代,人力资源管理在企业中的地位越来越重要.绩效考核作为人力资源管理中的重要一环,对于科研院所的影响也是举足轻重的.所以科研院所应加强和完善绩效考核体系中的每个环节,将考核落到实处,真正发挥绩效考核的作用,曼有效地推动管理水平和业绩的提高.     

供应链信息资源优化及其价值创造能力提升——以农产品物流业为例

信息资源在供应链运营中的作用日益凸显。信息经济环境下,企业和客户对于信息的查询和运用等需求日益提高,对于供应链信息资源的处理效率与能力要求显著增加。供应链运营涉及多环节的信息处理、信息交流,供应链信息资源的优化实现较好的信息利用效益,促进其价值创造能力的提升。文章结合农产品物流业发展中供应链信息资源运营管理的实际状况,通过供应链信息资源的需求特点分析,阐明供应链信息资源的运营要求。通过农产品物流业的供应链信息资源优化和价值创造能力提升的系统分析,提出供应链信息资源优化的路径,提高农产品物流业发展中供应链信息资源的处理效率和运用水平,不断提高信息资源在供应链中的价值创造能力,促进农产品物流业中供应链的优化发展。     

Sino-EU Relations in 2009 Will Be Warmer

In 2009, the Czech Republic officially took over the six-month EU presidency from France. Following Slovenia, the Czech Republic is the second new EU member to hold the EU presidency. The Czech Republic is currently faced with the challenge of coping with the global financial crisis and promoting EU political reform, as well as handling its own internal issues. On January 15, H.E. Mr. Vitezslav GREPL,the ambassador of the Czech Republic in China, held a press conference to address the Sino-EU relationship in 2009. H.E.Mr. Serge Abou, the EU ambassador to China and H.E. Mr. Mikael Lindstrom,the ambassador of Sweden to China also attended this conference.     

绿色发展的主体—生态模式——基于浙商的实践

绿色发展,是一个世界性的命题,是中国改变现状和实现持续发展的迫切需要,是浙商急需践行的目标。已有的绿色发展理论虽然阐明了有关绿色发展的实质和目的,以及基点、核心内容和措施等问题,但是缺乏整体性和系统性及其转换性。鉴于此,文章构建了绿色发展的主体—生态模式。该模式反映全面、融合和协调的主体—生态关系,其核心范畴是公正,包括代内公正和代际公正。该模式除了整体和系统地反映绿色发展的目的、宗旨和目标以外,集中体现为绿色价值的创造和增进。文章最后结合浙商的实践,探讨了在绿色发展的主体—生态模式的运用中需要树立和践行的一系列原则、理念和精神。     

Evolution of pharmaceutical regulations and their consequences in the European Union and the United States

This article examines the nature of the European Union (EU) and United States regulation of the pharmaceutical industry in recent years. A series of Regulations and Directives issued by the European Commission and reinforced by decisions of the European Court of Justice have achieved harmonization of the pharmaceutical industry throughout the EU. In the U.S., as a result of the federal system, harmonization has not been a issue; the focus of regulation has been to achieve a balance between those companies using research and development (R&D) to create innovative products and the generic companies which provide quality medicines at lower costs to the consumer. Notwithstanding this difference in orientation, similar problems have been faced in the EU and the U.S.: patent term extension, pediatric versions, and assurance that new drugs are safe and effective. The similarity of issues and often their solutions should not be surprising since the pharmaceutical industry is truly global. U.S. products are sold throughout the EU and European products are readily available in the U.S. The level of regulation, both in the EU and the U.S. has not stymied the industry, as it remains a global leader in developing new and innovative products utilized throughout the world. © 2002 Wiley Periodicals, Inc.     

Ethical implications of business format franchising

Franchising in the business format sector accounted for approximately 35 percent of retail sales in the U.S. in 1991. Consequently, the franchising industry has a clear ethical responsibility to the public. At the same time, there exists an ethical obligation of the two major factors in the industry — the franchisor and the franchise — toward each other. Because the franchise agreement, which is the basis of the relationship, is originated by the franchisor, an asymmetrical distribution of power often exists, resulting in opportunistic behavior by the franchisor. In other cases, questionable or unethical practices by franchisees likewise result in conflict. This paper examines some of the basic areas of the franchise relationship which result in conflict, and discusses the situation analysis in business format franchising, which shows promise for reduction of conflict and unethical behavior for the future.Gordon Storholm is Associate Professor of Marketing at St. John's University, New York, N.Y. He is an active member of the Society of Franchising and has published several articles in the franchising field. He has contributed to this Journal and has several years' experience as a consultant in the Franchising and Marketing fields.Eberhard E. Scheuing is Professor of Marketing at St. John's University, New York, N.Y. He is Director of the Business Research Institute and has published several books and articles in the marketing field. He is widely recognized as a leading authority in the field of ethics in service quality.     

An explicitly solvable multi‐scale stochastic volatility model: Option pricing and calibration problems

We introduce an explicitly solvable multiscale stochastic volatility model that generalizes the Heston model. The model describes the dynamics of an asset price and of its two stochastic variances using a system of three Ito stochastic differential equations. The two stochastic variances vary on two distinct time scales and can be regarded as auxiliary variables introduced to model the dynamics of the asset price. Under some assumptions, the transition probability density function of the stochastic process solution of the model is represented as a one‐dimensional integral of an explicitly known integrand. In this sense the model is explicitly solvable. We consider the risk‐neutral measure associated with the proposed multiscale stochastic volatility model and derive formulae to price European vanilla options (call and put) in the multiscale stochastic volatility model considered. We use the thus‐obtained option price formulae to study the calibration problem, that is to study the values of the model parameters, the correlation coefficients of the Wiener processes defining the model, and the initial stochastic variances implied by the “observed” option prices using both synthetic and real data. In the analysis of real data, we use the S&P 500 index and to the prices of the corresponding options in the year 2005. The web site http://www.econ.univpm.it/recchioni/finance/w7 contains some auxiliary material including some animations that helps the understanding of this article. A more general reference to the work of the authors and their coauthors in mathematical finance is the web site http://www.econ.univpm.it/recchioni/finance . © 2009 Wiley Periodicals, Inc. Jrl Fut Mark 29:862–893, 2009