1. Under the L/C settlement method, the condition for the bank to perform the payment responsibility to the beneficiary is (D).

A. Applicant's payment and redemption form B. Beneficiary's timely performance of the contract.

C. the beneficiary delivers the goods in accordance with the provisions of the letter of credit. D. the beneficiary submits documents that strictly meet the requirements of the letter of credit.

2. A bill of exchange is a means of payment, not cash. It has two originals, and its effect is (c).

A. the first one is valid and the second one is invalid. B. The second one is valid and the first one is invalid.

C. the same, first come, first served, and then invalid D. the same, the bank pays twice.

3. Regarding promissory notes and drafts, the following statement is correct (A).

A. usance promissory notes need not be accepted, and usance bills need to be accepted.

There are three parties to a promissory note, but only two parties to a bill.

The principal debt of a promissory note changes with acceptance, while the principal debtor of a bill remains unchanged.

Promissory notes are unconditional payment instructions, while bills of exchange are unconditional payment.

4. According to China's Customs Law, the customs declaration period for imported goods is within (b) days from the date when the means of transport declare entry. If the consignee or his agent fails to declare the imported goods within the time limit, the customs will levy a demurrage fee, and the daily demurrage fee will be (b) of the dutiable price of the imported goods.

A. 14 days /0.5% B. 14 days /0.5‰ C. 15 days /0.5% D. 15 days /0.5‰

5. According to the provisions of the United Nations Convention on Contracts for the International Sale of Goods, the amendment of (d) is not a substantial change in the contents of the offer.

A. Method of dispute settlement B. Quantity and payment method

C. Time and place of delivery D. Request for certificate of origin

6. In the import and export practice, in (d), the exporter must provide the verification form of export proceeds.

A. Submit negotiation documents B. Apply for export license

C. Application for inspection D. Export declaration

7. Under normal circumstances, the policy with the applicant as the exporter must go through (a) before it can take effect.

A. blank endorsement of exporters B. endorsement of insurance company registration

C. the importer instructs to endorse. Issuing bank instructs endorsement

8. The so-called "blank bill of lading" means (d).

A the consignee column of the bill of lading is left blank, without endorsement.

B the consignee column of the bill of lading is blank, and the back of the bill of lading is blank.

C fill in "to order" in the consignee column of the bill of lading, and leave blank the back of the bill of lading.

D the consignee column of the bill of lading should be filled with "to order", and the back of the bill of lading should be signed by the shipper.

9. According to the interpretation of General Rule 20 10, the seller delivers the goods to the buyer at the designated destination port or terminal, pays the unloading fee, but completes the delivery task without going through the import customs clearance procedures. This trade term is (b).

A.DDP D.CIP

10. If the letter of credit stipulates "packing list in quintuplicate", the number of copies of the packing list submitted by the beneficiary shall be (b).

A. Five copies

C. five originals and five copies. D. there are only copies, but no originals.

1 1. A company importing a batch of goods from Newcastle, England to Qingdao should fill in (b) after the loading port in the application for opening a letter of credit.

A. United Kingdom B. New Castle

C. Qingdao, China

12. Under the three payment methods of letter of credit, D/P and D/A, as far as the seller's risk is concerned, (c).

A. Letter of credit

C. letters of credit

13. Among the documents for consignment, inspection, customs declaration and foreign exchange settlement, the relevant document issued by the exporter is (D).

A invoices, customs declarations, bills of lading and bills of lading b bills of exchange, bills of lading and consignment notes

C. invoices, bills of lading and insurance policies D. invoices, waybills, drafts and inspection reports

14. Under FOB conditions, if the ship is chartered, if the buyer is unwilling to bear the loading and unloading fees, then (c) shall be stipulated in the contract.

A. FOB liner conditions

C.FOB loading D.FOB balancing

15. The following (a) is not what EDI must include.

A. simultaneous transmission of paper documents and electronic documents. B. Data are compiled according to uniform standards.

C. Electronic transmission of information D. Connection between computer applications

16. Among the following conditions, (b) is not a necessary condition for an offer.

A. the content of the offer must be very clear. B. The main trading conditions must be very complete.

C. send a d to one or more specific people, indicating that the offeror is bound.

17. Under the mode of payment by letter of credit, if the draft drawn by the exporter refuses to pay after negotiation, (c).

A. the issuing bank has the right to exercise recourse.

C. the negotiating bank has the right to exercise recourse.

18. In the case of CFR quotation, foreign trade companies should adopt (c) if they deliver the goods to the cargo terminal first or use ro-ro or container transportation.

A.CA B

19. Provisions on the time and place of commodity inspection (c) are widely used in China's import and export business.

A. offshore quality, offshore weight

B. Landing quality and landing weight

Inspection at the port of shipment of the exporting country and reinspection at the port of destination of the importing country.

D. Offshore weight and landing quality

20. The date of the ocean bill of lading should be understood as (b).

A. the date when the shipment of goods started B. the date when the shipment of goods was completed

C. Any day during loading D. Date of signing the contract of carriage

Second, multiple choice questions

1. International payment and settlement bills mainly include (BCD).

A. foreign currency cash bills, cheques and promissory notes

2. Among the following bills of exchange, the one that belongs to the forward bill is (BCD).

A. bills of exchange with specific date of payment

C. bills of exchange payable periodically after issue

3. In international contracts for the sale of goods, (BD) is a common method to specify the time of shipment.

A) It is stipulated that the goods should be shipped on a certain day. B) It is stipulated that shipment should be made within a few days after receipt of the letter of credit.

C. generally stipulate the time of shipment. Specify the specific time of shipment.

4. In actual business, if the goods exported by the letter of credit are found to be inconsistent with the documents after shipment, and the documents cannot be consistent within the validity period of the letter of credit or the period of presentation of documents due to time constraints, the alternative measure that can be taken is (ABC).

A. Letter of Guarantee Negotiation B. Solicit the opinions of the issuing bank by "cable withdrawal"

C. change it to documentary collection. D. Ask the buyer for payment directly.

5. The unit price of the following commodities is written correctly (ABCD)

A. The FOB price in Huangpu, Guangzhou is HK$ 50 per dozen, and the FOB price in Dalian is 5800 yen per set, including 2% discount.

C $200 per set, 3% CIF Hong Kong, 36 pounds per barrel, CIF London.

6. Stranding, hitting rocks, sinking and other accidents. The means of transport broke down during transportation. No matter before or after the accident, some losses of the insured goods caused by natural disasters such as bad weather at sea, lightning and tsunami belong to the following (ABC).

A. FPA, WPA, All Risks and Additional Risks

7. The letter of credit payment method is characterized by (ACD)

A. Letter of credit is a kind of bank credit. Letter of credit is a kind of commercial credit.

C. a letter of credit is an independent document. A letter of credit is a kind of document sale.

8. In international trade, the contents of the overflow and shortage clauses include (ABC).

A. Shortage and percentage of short shipment B. Selection of short shipment and short shipment

C. the price of the surplus and shortage D. the buyer must collect the surplus and shortage goods

9. According to the suggestion of ISO, marks and numbers should include (ABC).

A. Name of destination port (destination) B. Number of pieces

C. the name prefix or commodity name of the consignee or buyer.

10. In import and export trade, BCD is usually indicated.

A. Instructions to importers B. Instructions C. Instructions to issuing banks D. Instructions to shippers

1 1. The following (ACD) is the function of the inspection certificate.

Prove whether the quality, quantity, packaging and sanitary conditions of the goods delivered by the seller conform to the contract.

B as a necessary document for the buyer and seller to declare and clear customs at the import and export customs.

C is one of the documents when the seller negotiates with the bank.

D as one of the documents for the buyer to raise quality and quantity objections, claim and settle disputes.

12. Which of the following terms should be regarded as the "soft clause" (ABC) of the letter of credit?

The inspector's signature on the inspection certificate must be consistent with the sample signature kept by the issuing bank.

The customs declaration, contract and commercial invoice issued by the beneficiary must be certified by the embassy.

The letter of credit will not take effect until the applicant confirms the sample.

D. the goods can only be shipped after being inspected by relevant personnel.

13. The letter of credit has the following clauses, of which (AB) is a "non-documentary condition".

A the age of the carrying vessel shall not exceed 15 years.

B.this cargo ship flies the Panamanian flag.

Immediately after shipment, notify the applicant of the loading details and submit a fax copy.

D. Providing certificates of origin

14. The shipper in the bill of lading or air waybill can be (ABCD).

A. supplier in sales contract B. buyer in sales contract

C. the person who delivered the goods to the carrier D. the person who signed the agency contract with the carrier

15. The commercial invoice is the first document prepared by the exporter when preparing a complete set of export documents, because it is used in the ABCD stage of export goods.

A. consignment booking B. insurance C. export declaration D. commodity inspection

16. When the container is consigned for export by sea, the following statement about the dock receipt (ABC) is correct:

A. It is the receipt certificate of the freight yard or freight station.

B is an important basis for dividing the responsibilities of both parties.

C. it is a certificate that the shipper can exchange for the bill of lading.

D is the carrier's order to inform the ship to receive goods and ship them.

17. The documents required for chartering and booking are (ABC).

A. consignment note B. loading list

C. Packing list D. Ocean bill of lading

18. According to UCP600, the reason why an issuing bank can refuse to pay for the goods is (AC).

A. The documents are inconsistent B. The applicant is bankrupt

C. Single discrepancy D. Documentary discrepancy with goods

19. Among the following options, (ACD) is the settlement method of commercial credit.

A. telegraphic transfer letter of credit

C. defense minister.

20. The endorsement of a bill of lading is generally divided into (ABC).

A. Nominal endorsement B. Instruction endorsement

C. Blank endorsement D. Arbitrary endorsement

Third, the judgment question

1. According to CIF terms, the seller generally only covers the minimum risk and war risk. ( ×)

2. In export trade, there are many ways to express quality, and the method of buying and selling is based on samples and specifications. (×)

3. Overloading and shortloading terms mean that the shipment quantity can be increased or decreased to a certain extent, which can be decided by the seller or the buyer, but it should be determined according to the specific provisions in the contract. ( √)

4. Packaging refers to packaging goods with certain containers, materials and auxiliary materials according to certain requirements, so as to protect goods, facilitate transportation, storage and sales, and improve sales value. ( √)

In international trade, after you have insured the insurance company against all risks, you can claim compensation from the insurance company for all the damage to the goods caused by any external reasons in transit. ( ×)

6. The date of shipment stipulated in the L/C is June 30th, the validity period is July 15, and the delivery date is 2 1 day after the date of bill of lading. If the actual shipment date is June 25th, the beneficiary can deliver the documents on July16th. ( × )

7. After receiving the irrevocable letter of credit issued by the other party, the export company shall deliver, ship, prepare documents and settle foreign exchange in strict accordance with the terms of the letter of credit. In any case, it has no right to ask the issuing bank to amend or cancel the letter of credit. ( × )

8. The shipment time stipulated in the contract is "May/June 2009", so the seller should deliver the goods in May and June, and deliver one batch every month. (×) 29. If the letter of credit does not stipulate partial shipment, it means that partial shipment cannot be made. (×)

9. Any general average is a total loss. (×)

10. Export credit insurance is a measure widely adopted by governments all over the world to resist export risks. (√)

1 1. According to UCP600, if the words "immediately", "immediately", "as soon as possible" or similar words are used in the time of shipment, the bank will ignore them. (√)

12. In the performance of the import contract, if the damage to the goods is caused by the carrier's responsibility, the time limit for claiming compensation from the carrier is within one year after the goods arrive at the port of destination and are delivered. (√)

13. In the letter of credit business, the letter of credit is opened on the basis of the sales contract. Therefore, the strict conformity between the documents and the terms of the sales contract is the premise for the issuing bank to bear the payment responsibility to the beneficiary. (×)

14. In international trade, goods priced by weight should be priced by net weight if there is no clear stipulation. (√)

15. Some cartons were wet by rain during transportation, and water stains appeared on the clothes inside. As the goods are covered by W.P.A., the owner can claim compensation from the insurance company. (×)

16. After the merchant's employer buys the exporter's bills without recourse, the exporter can transfer the rights, risks and responsibilities of debt collection to the merchant's employer, but the merchant's employer must also give up the right of recourse to the exporter. (√)

17. If the specific shipping mark is not specified in the contract and the letter of credit, and the goods are bulk goods, the shipping mark column of the invoice can be left blank. (×)

18. When exporting according to CIF terms, China exporters shall cover all risks in China, and the risks borne by exporters shall start from "warehouse to warehouse". (×)

19. Generally, the port-to-port ocean bill of lading is "bill of lading received for shipment", while the international multimodal bill of lading is "on board". (×)

20. After the draft under the irrevocable confirmed letter of credit is paid by the confirming bank, if the issuing bank refuses to pay for any reason, the confirming bank can recover the money from the beneficiary. (×)

Fourth, practical problems.

(A) Case analysis

1. One of our import and export companies exports a batch of textile products, and the contract stipulates that the payment method is irrevocable letter of credit at sight. The buyer informed the bank to open the letter of credit within the time stipulated in the contract, and immediately transferred the letter of credit to our import and export company. After inspection, our import and export company found that the relevant terms were not in conformity with the contract. In order to gain time and complete the amendment of the letter of credit as soon as possible, so as to handle the shipment of goods, we immediately telegraphed the issuing bank to amend the letter of credit and requested that the amendment of the letter of credit be sent directly to our company. Q: (1) What are the possible consequences of our approach? (2) What is the correct way to amend the letter of credit?

Answer: (1) Our practice may lead to the following situations: ① As the issuing bank only accepts the applicant's amendment request, it will not accept the beneficiary's amendment request, which will lead us (the beneficiary) to receive foreign exchange safely with consistent documents; ② The advising bank of the original L/C must notify the beneficiary of the amendment, otherwise we will not be able to tell the authenticity of the amendment and handle the shipment, which may lead to the exhaustion of the payment. (2) The correct way to amend the letter of credit is: the beneficiary contacts the applicant to amend the letter of credit, the applicant goes to the issuing bank to amend the letter of credit, and the issuing bank sends the letter of credit amendment to the advising bank, which sends it to the beneficiary after checking the authenticity of the amendment.

(2) Calculation problems

A company exported 225 packages of certain goods by sea, each with a net weight of 78kg, a gross weight of 80kg and a volume of 78 * 50 * 20cm. Calculated by W/M, the basic freight per freight ton is $65,438 +050, plus 35% fuel surcharge. Please calculate the total freight of this batch of goods.

Solution: The gross weight of this consignment is 80÷ 1000×225= 18 (metric tons).

The total volume of this consignment is 0.78× 0.50× 0.20× 225 =17.55 (cubic meter).

Weight is greater than volume, so freight is charged by weight.

150 (1+35%) ×18 = 3645.00 (USD)

A: The total freight for this shipment is $3,645.

V. Operational problems

Review the letter of credit according to the contract

A contract signed by the buyer and the seller

Top education textile import and export company

Textile import and export corporation

No.1 Zhongshan East Road 127, Shanghai, China

No. 28CA 1006

Date: 20 1 10306

sales confirmation

sales confirmation

Thomson textile company

3384 Vincent Street.

Downs view, Ontario

M3J, 2J4, Canada

Article number, commodity, specification, quantity, unit price and amount

7711/dyed denim fabric, cotton 70% polyester 30%

112/114cm wide, 40m cut length, CIF Toronto.

Number of colors (million dollars/million dollars)

Red 4000 1.56 6240.00

Baiyin 4000 1.32 5280.00

Danish Navy 4 200 1.62 6 804.00

Wine 2800 1.62 4536.00

DK blue 4800 1.44 69 12.00

Black 4200 1.62 6804.00

24,000 square meters in total, USD 36,576.00.

10% allows the quantity and amount to fluctuate up and down.

Packing: Full-width roller is mounted on a pipe with a diameter of 1.5 inch and packed in a carton.

Shipment: April 30th or before 20 1 1

Delivery: partial shipment and transshipment from Shanghai to Toronto.

Allow shipment.

Insurance: The seller shall insure ICC(A) with the date of 01/012010, with the insurance amount of 1 10%.

W/W clause including invoice amount

Payment method: by 100% irrevocable letter of credit and by sight draft.

Open a letter of credit in favor of the seller 30 days before the date of the letter of credit.

Shipment and negotiation in China are valid until.

After the date of shipment 15 days

Buyer's signature and seller's signature

Charles Brown Li Ming

The letter of credit issued by the importing country is as follows:

ZCZC ahs 302 cpua 520s 920326 1058 120 rn 0254 14394

P3. Szochira

To1030626bkchcnbjash102514

FM 15005 25 cibccattfxxxx 05905

CIBBCCATTFXXX

* Imperial Commercial Bank of Canada

* Toronto

MT 70 1 02

27 total sequence:11

40A DOC format. Letter of Credit: Irrevocable

20 DOC。 Credit number: T-0 1764 1

3 1C date of issue: 20 1 10305

3 1D Date Expiration Location: 20 1 10505 Canada

Applicant: Thomson Textile Company.

3384 Vincent Street

Downs view, Ontario

M3J.2J4 Canada

Beneficiary: Textile Import and Export Corporation

127 Zhongshan Dongyi Road

Shanghai, China

32B Amount Currency: USD 43,8965438 +0.20

39A Positive/negative tolerance (%): 10/ 10

4 1D can be used in any bank in China.

Through negotiation

42C Draft at 30 days' sight

42D Payer: CIBE, Toronto Trade and Finance Center, Toronto

43P partial shipment: allowed

Transshipment of 43 tons: allowed

44E Port of shipment: Shanghai

44F unloading port: Toronto

44C Latest shipment date: 20 1 105 10.

45A Cargo shipment: dyed denim according to S/cn 0. 82ca 1006.

CIF Toronto

46A Required documents:

+Commercial invoice in quadruplicate

+Certificate of origin for textiles

+Full set of clean on-board bills of lading issued to consignor.

Blank order, endorsement, marked freight prepaid, notify the applicant

+Insurance policy or certificate issued by People's Insurance Company

China company deals in marine transportation of goods.

The terms are 1 10% of the cif invoice, covering all risks and war risks.

Value of claims payable in Canada

+Detailed packing list in triplicate

47A: Additional conditions:

The number and date of the letter of credit and the name of our bank.

Must be indicated on all required drafts.

The extra cost of $80.00 or equivalent will be deducted from the following items.

Proceeds paid against any withdrawal of documents presented.

Is found to be not in full compliance with the terms of this agreement.

loan

7 1B: cost breakdown:

All banking charges outside Canada are for the account of the beneficiary.

And claims must be filed at the time of notification.

48: Exhibition period:

Within 5 days after the issuance of the shipping documents

But within the validity period of the letter of credit

49: Confirmation: None

78: Description:

As soon as we receive the correct documents, we will remit the money as agreed.

-in accordance with the instructions of the negotiating bank at maturity.

MAC/OBTDE84E

Dead load torque

ground-to-air (guided) missile

=0326 1058

NNNN

Upon examination, there are ten mistakes in the letter of credit:

(1) 3 1C The opening date of the letter of credit is wrong, and the actual opening date should be later than the conclusion date of the contract;

(2) The expiration date and place of the 31D letter of credit are wrong. According to the contract, it should be 20 1 105 15 China;

(3) 59 The beneficiary's name is wrong, and it should be ABC Textile Import and Export Corporation;

(4) The amount of L/C 32b is incorrect, which should be 36,576.00 according to the contract;

(42c The terms of the draft are incorrect and should be at sight;

(44C's latest shipment date is wrong, it should be 20110430;

(45a The contract number in the description of the goods is wrong, which should be: 28ca1006;

(46A The insurance coverage in the insurance policy is incorrect, and it should be ICC (a) according to the contract;

(9) 47A According to the contract, the quantity of works should be increased within 10%, which is not shown in the special terms and conditions;

(10)48 The delivery date is wrong. According to the contract, it should be 15 days