Part Five
Intermediary Services
I. Intermediary Services
Relationship
Settlement
Trust
Lease
Factoring
Three main functions mercial banks
Peripheral次要的,外围的 epicenter中心
Surge激增 ancillary辅助的
Relationship between banks and customers
Debtor/creditor债权债务
Deposit, loan
Principal/agent委托代理 obligation
Fiduciary受信托者 fiduciary duty信托责任 agency agreement代理协议 reimburse补偿 indemnify保护,赔偿,使免于受罚 account to对……负责
Bailor/bailee寄托受托
Valuable贵重物品 custody保管
Safekeeping保管
Vault保险库 safe deposit boxes保险箱(control and privacy) compartment格 pledge质押 collateral担保品
Settlement-payments and funds transfer
Striking of a balance between parties
Transferring funds: principal-agent
Cash-based
Paper-based
Electronic-based
Negotiable instruments可转让票据
Bill of exchange
Cheques
Promissory notes
Bill of exchange
Unconditional order in writing
Addressed by one person to another
Signed by the person giving it
Requiring the person to whom it is addressed to pay
On demand or at fixed or determinable future time
A sum certain in money
To or to the order of a specified person, or to the bearer
Two advantages
Avoid transferring large sum of cash
Conflicting demands of buyers and sellers can be reconciled
Cheques
Unconditional order in writing
Addressed by a person to a bank
Signed by the person making it
Requiring the bank to pay
On demand
A sum certain in money
To or to the order of a specified person or to the bearer
Acceptance承兑 negotiation转让 forged and unauthorized signatures伪造和未授权签名 discharge解除 indorsement=endorsement背书 crossings (general and special) bank to bank划线 transverse横向的 bank draft (same bank)银行汇票
Promissory notes
Unconditional promise in writing
made by one person to another
signed by the maker engaging to pay
On demand or at a fixed or determinable future time
A sum certain in money
To or to the order of a specified person or to bearer
Order or promise
How many parties
Never accepted
Surety担保人
Bank notes=legal tenders=special bank promissory notes
Plastic money
Credit card:
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