The letter of credit contract and the collection contract The diploma thesis deals with the topic of the Direct Debit Contract and the Letter of Credit. A Letter of Credit is a special payment instrument issued as a rule by a bank that the principal has undertaken to pay to the person in whose interest the Letter of Credit is open and designated as the authorized amount up to the amount agreed. The Direct Debit is the commitment of the collector of receivables to obtain from the third party a receipt of a sum of money or other Direct Debit. Current legislation, contained in the Civil Code, took over the legal regulation of the Letter of Credit and the Direct Debit from the Commercial Code without any major changes. Both institutes show a number of identical and different elements. From a practical point of view, it is not possible to look for serious application problems in the Letter of Credit or Direct Debit. Keywords: Letter of Credit, Direct Debit, Banking, Bank, Payment Instruments, The Collection Contract

在國際貿易活動，買賣雙方可能因為互不信任，買方擔心預先支付款項後，賣方不按交易合同要求出貨；賣方也擔心在出貨或提交貨運單據後買方不依約付款。因此需要兩家銀行作為買賣雙方的保證人，幫忙代為收款交單，以銀行的信用代替商業信用，銀行在這一方面的活動中所使用的工具就是信用狀(Letter of Credit，L/C)。 區塊鏈(Blockchain)，是一個分散式的帳本系統，採用密碼學技術來確保交易的正確性，公開、公正、透明及無法竄改特性，經濟學人稱之為信任機器(Trust Machine)。 本研究所採用的區塊鏈信用狀系統，應用區塊鏈加快‪國際貿易信用狀處理流程，則是利用區塊鏈(Blockchain)技術特性，建立一個區塊鏈交易應用平台，協助解決國際貿易時，各方參與角色的信任問題，達到傳統銀行的信用狀功能，使其中間交易支付過程可不需透過銀行，如此便可降低了銀行風險，以及降低貿易上的費用及縮短交易支付時間，根本上解決了貿易上最重要的信任問題，達到國際貿易的目的。 / In the case of international trade activities, buyers and sellers may be mistrustful and the buyer is worried that the seller will not be required to ship the goods after the advance payment; the seller is also concerned that the buyer will not pay the contract after the shipment or delivery of the shipping documents. So the two banks as the guarantor of buyers and sellers, to help on behalf of the payment of orders to the bank's credit instead of commercial credit, the bank in this area activities used in the tool is the letter of credit (Letter of Credit, L/C) The Blockchain is a decentralized ledger system that uses cryptography to ensure the correctness, openness, fairness, transparency and tampering of transactions. Economists call it Trust Machine. The blockchain trust system used in this research, the application of blockchain to speed up the international trade credit processing process, it is the use of blockchain technology characteristics, the establishment of a blockchain trading application platform to help solve international trade , The parties involved in the role of the trust of the problem, to the traditional bank's L/C function, so that the process of intermediate transactions can not be through the bank, so that can reduce the bank risk, as well as reduce trade costs and shorten the transaction payment time. It is easy to solve the most important issues of trust. To achieve the purpose of international trade.

The thesis is divided into two parts -- theoretical and practical. In first part hedging instruments, namely the Letter of Credit, Documentary Collection, Bill of Exchange, Factoring, Forfaiting and Bank Guarantee are analyzed. The aim of analysis is to describe the basic characteristics of instruments and course of these instruments. Subsequently, the instruments are compared to each other on the basis of the advantages and disadvatages they bring to participants. The next part is devoted to an analysis of charges associated with the use of particular hedging instruments in selected banks and the comparison of instruments based on selected criteria. The specific use of the hedging instrument is shown in the case study.

This thesis deals with the possibilities of financing export contract in the company. The theoretical part provides an insight into the opportunities that companies currently have in financing their activities. There is an overview of the various forms of internal and external financing and their basic characteristics. The practical part is focused on a specific business case and options for financing various parts of the contract. The conclusion provides a comprehensive overview of the variations, their comparisons and recommendations of the best one from the complex perspective.

Выпускная квалификационная работа (магистерская диссертация) посвящена характеристике расчетно-кассового обслуживания клиентов в коммерческих банках, включающее в себя открытие и ведение банковских счетов юридических и физических лиц, является для банков очень важным видом деятельности. Расчетно-кассовое обслуживание в совокупности с проведением операций по привлечению денежных средств физических и юридических лиц во вклады и размещением этих средств от имени и за счет банка является классической банковской операцией. / Final qualification work (master thesis) is devoted to the cash management customer service in commercial banks, including opening and maintaining Bank accounts of legal and natural persons to banks is a very important activity. Cash management services in conjunction with the operations on attraction of funds of physical and legal persons into deposits and placement of these funds on behalf of and for the account of the Bank is a classic Bank transaction.

The legal nature of the bill of lading as a negotiable document of title has allowed it to provide the basis of a system in which bankers provide credit for the financing of international sales contracts on the strength of the security afforded by the goods represented in the bill. The sea waybill has appeared as a substitute for the bill of lading and, despite its nature as a nonnegotiable document, it can be employed in a manner which allows it to provide collateral security to banks. Multimodal transport documents which may be issued in negotiable or non-negotiable form assume the same legal role as the bill oflading or sea waybill respectively. The inclusion of specific articles in the 1993 Revision of the UCP relating to non-negotiable sea waybills and multimodal transport documents affirms their acceptability to banks financing international sales contracts under documentary letters of credit. / Law / LL.M.

The first part of the thesis deals with a description of legal relationships in the international trade and explains the term "international element." Further there is a short description of private international law and international trade law. The second part of the thesis is focused on securing of contractual obligations in the international trade. The third part concerns with explanation of the basic forms of legal relationships in the international trade regulation with regard to securing of contractual obligations. The final part of the thesis deals with a description of securing instruments used in the international trade. At the end of this part there are listed factors which influence the choice of a suitable securing instrument.

在二十世紀末的今天，國際間的技術輸出、工程開發、勞務僱傭以及精密技術的移轉等均有別於傳統有形物品的國際貿易，其金額與規模的鉅大，交易的頻繁，均呈現空前繁盛的情況，尤其國際間的營建工程也已成為國際貿易的一大項目，實乃始料所未及。由於工程龐大，涉及貨物或勞務的供應以及工作的履行，且需某種程度的技術與經驗,為確保工程依特定的規格或品質如期完成,業主乃要求承包商提供可靠的擔保，此乃國際上公認的正常保障措施。擔保的形式很多，擔保信用狀和「獨立性（單據化）的銀行保證函」乃最普遍、最常見，也最容易被各方所接受。雖然保證或保險公司也願簽發此種獨立性質的擔保函，而銀行也會有簽發傳統的從屬性保證函的情形，但銀行簽發的獨立性保證函與擔保信用狀仍為目前國際貿易上最盛行、最具代表性的保證方式，且其用途已不限於確保營建工程的履行，目前已被廣泛使用在各種層面的擔保上。但我國及其他大部分國家均未對此種與傳統民法炯異的銀行獨立性保證函加以立法，而許多人對此種獨立於基礎契約的保證也一知半解，因此易滋困擾。本研究的目的即欲提昇國人對獨立性銀行保證函的了解和認知，以利其發展。此外，針對受益人對獨立性銀行保證函的濫用及不公平索償的風險，本文也欲藉著探討擔保函中的條款及其所可能帶來的風險，而使當事人能於擬訂擔保函內容時，即將開發擔保函的風險減到最低。而為了與傳統民法所提的保證加以區別，本論文特將「獨立性的銀行保證函」稱為「銀行擔保函」(letterof bank guarantee)或簡稱為「擔保函」(letter of guarantee),以免因觀念相混淆而產生誤解。此外，由於擔保信用狀與銀行擔保函誠為一體兩面的擔保文件，故本文所稱的「銀行擔保函」或「擔保函」，實乃包括「擔保信用狀」。故除非必要，才會特別提及「擔保信用狀」一語，否則，本文所談有關銀行擔保函的性質、內容等，將適用擔保信用狀。

信用狀為目前我國及國際清償貨款最通行之付款方式，故作為規範信 用狀交易之信用狀統一慣例（ICC Uniform Customs and Practice for Documentary Credits，簡稱ＵＣＰ），實為從事國際貿易者不可或 缺之知識。尤其，目前採行ＵＣＰ之國家及地區已達１６５個，足見ＵＣ Ｐ在信用狀交易中之重要性。ＵＣＰ第五次修訂始自１９８９年，經過多 次研討，於１９９３年正式通過，並已於１９９４年１月正式施行，而以 第五百號刊物發行(以下簡稱ＵＣＰ５００)。第五次修訂後，其對當事人 之權利義務有何影響？有關單據之規定亦作大幅度增修，當事人應注意哪 些事項？均為不可忽視之重點。 本論文旨在探討第五次修訂內容對信 用狀交易當事人之影響，以及修訂之理由，其中，有關運送單據部分，由 於第五次修訂之幅度相當大，故以個別單據之全部規定為探討之對象。本 論文共計六章，第一章為緒論；第二章介紹信用狀之法律性質、法源、本 次有關信用狀之修訂事項及ＵＣＰ之沿革，俾使對信用狀交易及統一慣例 有一初步了解；第三章探討第五次修訂內容對信用狀交易當事人之影響及 修訂理由；第四章探討單據一般規定事項之修訂理由及影響，以及全部運 送單據之性質與ＵＣＰ之規定事項，最後則探討其他單據之修訂緣由及其 影響；第五章則著重探討ＵＣＰ有關信用狀轉讓及信用狀金額讓與之修訂 理由及其影響；第六章為結論：第五次修訂後，若干條文較以往明確，故 有助於信用狀交易之進行；但若干條文較易引起爭議，當事人不妨以較明 確之信用狀取代。

Submitted by Mariana Pereira de Morais Pacheco (marianapmpacheco@gmail.com) on 2018-02-15T18:45:03Z No. of bitstreams: 1 Thesis_final.pdf: 659810 bytes, checksum: 96b9dc5caecd59d87012b2db6362ec20 (MD5) / Approved for entry into archive by Josineide da Silva Santos Locatelli (josineide.locatelli@fgv.br) on 2018-02-15T18:51:44Z (GMT) No. of bitstreams: 1 Thesis_final.pdf: 659810 bytes, checksum: 96b9dc5caecd59d87012b2db6362ec20 (MD5) / Made available in DSpace on 2018-02-16T11:43:40Z (GMT). No. of bitstreams: 1 Thesis_final.pdf: 659810 bytes, checksum: 96b9dc5caecd59d87012b2db6362ec20 (MD5) Previous issue date: 2018 / This thesis discusses the financial, commercial, political and legal risks of international trade operations involving International Bank Guarantees. It starts by defining the most usual international trade instruments and, then, defining Standby Letters of Credit, Performance Bonds and Bid Bonds issued according to the ISP 98, URGD 758 or UCP 600 as International Bank Guarantees. Later, it explores each specific risk. The financial risks are divided into foreign exchange risk, applicant's default risk and bank reputation risk. It is considered as a commercial risks frauds and low quality products. Legal risks are legal battles and local legislation. There is a topic that discusses specifically the U.S. related risks, as the country has a very particular legislation when it comes to International Bank Guarantees. The political risks are related to commercial embargoes and sanctions, changes in foreign policy and to the deterioration of commercial reations. The following section discusses how to mitigate each of the risks discussed. It shows whether or not this risk can be mitigated and if it also affects internation trade operations that do not use International Bank Guarantees. Lastly, the thesis discusses about the ideal international trade instrument. At the moment, International Bank Guarantees are the best instrument, still not the perfect one as it has some limitations. / Esta tese debate os riscos financeiros, comerciais, políticos e legais relacionados a operações de comércio internacional. A tese começa definindo os principais instrumentos usados em transações de comércio internacional. Em seguida, define como Garantia Bancária Internacional as Standby Letters of Credit, Performance Bonds e os Bid Bonds, emitidos de acordo com a ISP 98, URGD 758 ou UCP 600. Depois, a tese explora os riscos específicos das Garantias Bancárias Internacionais. São considerados riscos financeiros o risco cambial, o risco de calote da parte que solicitou a garantia e o risco de reputação dos bancos envolvidos na transação. Riscos comerciais são as fraudes e produtos de má qualidade. Os riscos legais analisados são referentes a batalhas judiciais e legislação local. Além disso, há uma parte da tese dedicada a discutir especificamente os riscos relacionados a legislação americana, que é muito diferente dos outros países em relação a Garantias Bancárias Internacionais. São considerados riscos políticos embargos e sanções comerciais, mudanças na política externa e a deterioração das relações comerciais entre dois países. A última seção da tese discute como mitigar os riscos involvidos em transações com Garantias Bancárias Internacionais. Nesta parte, discute-se quais riscos podem ou não ser mitigados eq quais riscos são inerentes a transações comerciais internacionais, independentemente do uso de Garantias Bancárias Internacionais. Conclui-se que, no momento, Garantias Bancárias Internacionais ainda são o melhor instrumento para assegurar transações comerciais internacionais. Contudo, estes intrumentos ainda não são perfeitos e estão sujeitos a muitos riscos e limitações.