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TEHNICI DE FINANTARE A AFACERILOR INTERNATIONALE

CURS 7 ACREDITIVUL DOCUMENTAR

INTERNATIONAL BUSINESS FINANCING TECHNIQUES

Race 7 - letter of credit

UCP 600
Uniform Customs and Practice for Documentary Credits (UCP) = reguli internaionale ce fundamenteaz procesarea acreditivelor i au fost promulgate pentru prima dat n 1933.

UCP600 au devenit aplicabile ncepnd cu 1 iulie 2007: Introducerea de clarificri privind tergerea acreditivelor revocabile; Reducerea timpului de verificare a documentelor de la 7 la 5 zile; Consolidarea protejrii bncii ce negociaz documentele;

UCP 600
Uniform Customs and Practice for Documentary Credits (UCP) International rules that underlie the processing of letters and have been promulgated for the first time in 1933.

UCP600 became applicable from 1 July 2007:

-Introducing clarification on deleting credentials revoked;

-Reduction of test documents from 7 to 5 days;


-Greater protection for the negotiating bank documents;

Acreditiv documentar cu plata la vedere

plata exportatorului se face n momentul prezentrii de ctre acesta a documentelor la banca pltitoare. plata se face numai dup ce banca a efectuat controlul documentelor i a constatat concordana acestora cu termenii i condiiile prevzute n acreditivul documentar. dac banca pltitoare se afl ntr-o alt alt locaie dect cea a exportatorului (ora, ar), controlul i plata documentelor se va face numai dup ce acestea au ajuns la ea n cadrul valabilitii acreditivului documentar.

Documentary letter of credit payable at sight

exporter payment is made in this presentation by the paying bank documents. payment is made only after the examination of documents and found consistency with the terms and conditions of the documentary letter of credit. payment is made only after the examination of documents and found consistency with the terms and conditions of the documentary letter of credit. if the paying bank is in a different location other than the exporter (city, country), control and payment documents will be made only after they have reached it in the letter of credit validity.

Acreditiv documentar cu plata diferat (amnat)

plata documentelor nu se face n momentul prezentrii acestora la banc, ci la o dat ulterioar, menionat n mod expres n textul acreditivului (de regul, la 30-40 zile de la prezentarea documentelor). exportatorul vinde pe credit pe termen scurt, ceea ce presupune c la negocierea preului se are n vedere i dobnda sumelor imobilizate n marf; importatorul intr n posesia documentelor, deci a mrfii nainte de plata lor. bncile acord credite sub form de avans exportatorului n contul ncasrii viitoare a acreditivului, garania constituind-o angajamentul de plat al bncii emitente.

Different payment documentary credit (deferred)

payment documents shall be made upon presentation of the bank, but at a later date specified explicitly in the text of the letter of credit (usually in 30-40 days from submission). the exporter sells short-term debt, which means that the price negotiation is envisaged and interest amounts fixed in goods; the importer takes possession of the documents, so the goods before paying them. banks to provide credit in the form of advance exporter future collection account credit, guarantee payment representing a commitment of the issuing bank.

Acreditivul transferabil utilizat n cazul exporturilor prin intermediari. beneficiarul poate solicita bncii pltitoare s permit utilizarea acreditivului, n totalitate sau parial, de ctre unul sau mai muli beneficiari secunzi; este transferabil numai dac acest lucru este stipulat n mod expres de ctre banca emitent: Trebuie s conin meniunea transferabil sau acest acreditiv este transferabil nu poate fi transferat dect o singur dat.

Transferable Letter of Credit

used for exports through intermediaries. beneficiary may request to permit the paying bank letter of credit, in whole or in part by one or more beneficiaries mates; is transferable only if it is expressly stipulated by the issuing bank: - must contain the words "transferable" or "this is This letter of credit is transferable. - may be transferred only once.

Acreditiv documentar cu clauz roie (engl. red clause)


modalitate de finanare a exportatorului de ctre importator. se utilizeaz: n cazul operaiunilor de intermediere, cnd exportatorul are mai muli furnizori locali care trebuie pltii imediat ce marfa a fost cumprat;

n activitatea de producie destinat exportului, cnd productorul nu are resurse financiare s produc marfa, iar importatorul este interesat de produsele respective i l finaneaz n acest mod.

a fost denumit astfel deoarece aceast clauz era nscris cu cerneal roie, semnificnd posibilitatea obinerii unui avans, rolul cernelii fiind de a atrage atenia.

Documentary credit with red clause (english red clause)

method of financing the exporter by the importer.

Is used:

for brokerage operations, when the exporter has several local suppliers to be paid as soon as the goods were purchased; in productive activity destined for export, when the producer does not have financial resources to produce goods, and the importer is interested in the products and will be funded in this way.

was named as the clause was written in red ink, signifying the possibility of obtaining an advance, the role of the ink was to attract the essence.

Acreditivul renoibil (revolving)

specific exporturilor complexe*; este deschis pentru o anumit tran (valoare), urmnd ca banca s l rentregeasc automat pentru fiecare nou tran; totalul sumelor astfel renoite trebuie s se ncadreze n valoarea global a acreditivului. modul de ncrcare a tranei se poate stabili n funcie de timp i de valoare.

cumprtorul are avantajul c nu i imobilizeaz o sum mare pentru livrarea mrfii;


vnztorul are sigurana livrrii ntregii producii realizate pentru obinerea valorii totale a acreditivului.

*exportul de echipamente, instalatii sau parti de instalatii, separat sau impreuna


cu tehnologii, licente, asitenta tehnica, proiectare, constructii montaj, lucrari de punere in functiune precum si furnizarea de piese de schimb si materiale aferente

Renewable letter of credit (revolving)


* specific for the complex exports; is open for a certain portion (value), following for the bank to complete the network automatically for each new installment; total amounts so renewed should fit in the overall amount of letter of credit. charging mode the tranche may be set according to time and value. the buyer has the advantage that he does t assume a large amount for delivery of goods; the seller has the safety delivery for all the production made to obtain the full amount of the letter of credit.

*the export of equipment, installations or parts of installations, separately or together with technologies licenses, technical assistance, design, construction, installation, commissioning works and supply of spare parts and related materials

Acreditivul reciproc

Specifice operaiunilor de contrapartid (efectuarea unui import este legat de efectuarea unui export); Partenerii i deschid reciproc cte un acreditiv fiecare partener este n acelai timp i ordonator i beneficiar; Este irevocabil i corelat valoric i n timp.

Acreditiv reciproc "escrow

d.p.d.v. al interesului primului exportator, ofer cea mai mare siguran: cuprinde "clauza de valoare prin care banca emitent ine evidena fondurilor pentru acoperirea livrrilor n compensaie;

Dac partenerul de contract nu livreaz marfa n compensaie ntr-un interval de timp dat (precizat n acreditiv), banca emitent se angajeaz ferm s plteasc contravaloarea documentelor prezentate de beneficiarul acreditivului (primul exportator)

Letter of each other

Counterparty - specific operations (performing an import is related to making an export); The partners will open an irrevocable letter of credit each other each partner is also the originator and beneficiary;

It is irrevocable, and the value and time-correlated.

Letter of each other "escrow From the point of view of the interests of exporting, offers the greatest safety:

includes value clause whereby the issuing bank keeps track of the funds to cover deliveries in compensation; If the contract partner fails to deliver the goods in compensation in a given time frame (as specified in the letter of credit), the issuing bank commits itself firmly topay the amount of documents presented by the letter of credit beneficiary (exporter).

Incasso-ul documentar

= modalitate de plat internaional, prin care exportatorul transmite bncii sale


documentele care atest livrarea mrfii conform contractului, iar banca remite spre ncasare documentele unei bnci din strintate, care se angajeaz s le prezinte importatorului i s solicite achitarea contravalorii mrfurilor sau serviciilor prestate.

Plata este relativ simpl i mai ieftin, dar negarantat bancar;


Avantaje: Pentru importator: acesta verific documentele nainte de a le onora i are sigurana c efectueaz plata numai dup ce partenerul su i-a ndeplinit obligaiile contratuale i a livrat marfa. Pentru exportator: acesta are sigurana c importatorul nu poate intra n posesia documentelor pentru a putea prelua marfa, dect dac le achit.

Dezavantaje: Pentru exportator: suport toate cheltuielile cu comisioanele bancare; Pentru importator: intr n posesia mrfurilor dect dup ce le achit.

The Documentary Collections

way of payment, the exporter sends his bank documents certifying delivery according to the contract, and submit to the Bank the documents collection of a bank abroad, that they undertake to submit to the importer and request payment of the value of the goods or services provided. Payment is relatively simple and inexpensive, but non-banking; Advantages: For import: this check documents before they honor and is satisfied that payment is made only after his partner to fulfill obligations contratuale and delivered goods. For exporters: it has certainty that the importer cannot take possession of documents to retrieve merchandise, unless you pay.

Disadvantages: For exporter: supports all expenditure on bank fees; For importer: the possession of the goods until you have paid.

Prile implicate n derularea unui incasso documentar sunt:

ordonatorul (exportatorul) cel care iniiaz operaiunea de incasso; banca remitent (banca exportatorului) banca la care ordonatorul a ncredinat operaiunea de incasso;

banca ncasatoare orice banc, alta dect banca remitent, care intervine n operaiunea de incasso;
banca prezentatoare (banca importatorului) banca nsrcinat cu prezentarea documentelor trasului; trasul (importatorul) destinatarul documentelor vehiculate n derularea incaso-ului..

The parties involved in a documentary collection are: sender (exporter) the one who initiates the operation of collection; remitting bank (exporter's bank) - bank authorizing incasso entrusted operation; collecting bank - any bank other than the remitting bank, which interferes with the operation of incasso; presenting bank (importer's bank) - entrusted with the documents drawee bank; drawee (importer) recipient of the documents exchanged in the course of collection. .