Return credit
The Rembourskredi t [ Rabu: r- ] is banking a special form of Akzeptkredits , where a cross-border trade in goods is based.
General
This definition of the BGH covers on the one hand the cross-border trade in goods and on the other hand the participation of a credit institute by means of acceptance credit. The word “rembors” comes from French and means “repayment of a foreign claim through the intermediary of a bank”. The remborskredit increased through the intensification of the international trade from 1950. The importer , the exporter and a remborsbank appear as participants .
Demarcation
Often the repayment credit is confused with the letter of credit or used as a synonym. The return loan can be recognized as a bank loan for all parties involved; in the case of a letter of credit, the beneficiary cannot see whether this involves granting a loan to the client. The cash back loan is a special form of acceptance credit because it only uses this banking product as part of a new financing instrument . In addition, goods documents must be submitted to the Remborsbank as collateral for the remborskredit.
species
In the case of a direct return loan , the importer has a direct relationship with the return bank, with which he concludes a credit agreement on the return. In the case of an indirect return loan , the importer seeks a connection to a return bank (a correspondent bank ) via his house bank, which concludes the return loan agreement on behalf of and for the account of the house bank ("mediated return credit"). This procedure is called the “Rembors of London” in banking.
Procedure
The remborsbank concludes a remborskredit agreement with the importer, which provides for the acceptance credit and the handing over of certain goods documents (mostly bills of lading ). The exporter then issues a draft which is accepted by the Remborsbank as a drawee . The Remborsbank undertakes under bill of exchange law to redeem the draft drawn on it and accepted by it on the expiry date. The accepting borrower, who does not sign on the bill of exchange himself, undertakes to the Remboursbank on the basis of the acceptance credit agreement. The exporter can now be sure that through the bank acceptance the bank is liable as an additional debtor for his claim and can therefore make the goods documents available to the Remborsbank. Since the goods documents are approved order papers , the legitimate owner of these securities is also the owner of the exported goods ( traditional papers ). This means that the Remborsbank also becomes the owner of the goods by endorsing these transport documents.
meaning
The reimbursing bank grants a documentary Akzeptkredit with which the importer can pay for the goods, this train to train receives in exchange for the goods and documents collected, the exporter of the purchase price of the goods. The repayment credit is thus a means of payment in foreign trade that secures the purchase price for the exporter and guarantees the importer the receipt of the goods. Both parties can therefore exclude the risks of an advance payment or an unwanted trade credit with the help of the cash back loan .
Individual evidence
- ↑ BGH LM § 675 No. 25
- ↑ Peter Derleder u. a. (Ed.), Handbook on German and European Banking Law , 2009, p. 1355
- ^ Siegfried Suda, The loan loan in foreign trade , 2013, p. 51
- ^ Wilhelm Kalveram , Bankbetriebslehre I , 1950, p. 50