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Case of Dispute Concerning Pledge of Negotiable Instruments -- Tianjin Branch of China Bank of Investment v. Tianjin Light Industry Foreign Trade Company (Case of Dispute Concerning Pledge of Negotiable Instruments)
中国投资银行天津分行诉天津市轻工业对外贸易公司票据质押纠纷案
【法宝引证码】

Case of Dispute Concerning Pledge of Negotiable Instruments -- Tianjin Branch of China Bank of Investment v. Tianjin Light Industry Foreign Trade Company (Case of Dispute Concerning Pledge of Negotiable Instruments)
(Case of Dispute Concerning Pledge of Negotiable Instruments)
中国投资银行天津分行诉天津市轻工业对外贸易公司票据质押纠纷案

CASE OF DISPUTE CONCERNING PLEDGE OF NEGOTIABLE INSTRUMENTS -- TIANJIN BRANCH OF CHINA BANK OF INVESTMENT V. TIANJIN LIGHT INDUSTRY FOREIGN TRADE COMPANY

 

中国投资银行天津分行诉天津市轻工业对外贸易公司票据质押纠纷案

BASIC FACTS 
Plaintiff: Tianjin Branch of China Bank of Investment. 原告:中国投资银行天津分行。
Legal Representative: Zhang Aiguo, president. 法定代表人:张爱国,行长。
Defendant: Tianjin Light Industry Foreign Trade Company. 被告:天津市轻工业对外贸易公司。
Legal Representative: Wang Shirong, Manager General. 法定代表人:王世荣,总经理。
Plaintiff Tianjin Branch of China Bank of Investment (hereinafter Bank of Investment) brought a suit in Tianjin Higher People's Court because of its dispute with Tianjin Light Industry Foreign Trade Company (hereinafter Light Industry Company) concerning pledge of negotiable instruments. 原告中国投资银行天津分行(下称投资银行)因与被告天津市轻工业对外贸易公司(下称轻工公司)发生票据质押纠纷,向天津市高级人民法院提起诉讼。
Plaintiff pleaded: On June 23, 1995, defendant Light Industry Company submitted to our Bank an application for usance L/C pledged with bill of exchange, the total worth of which was USD 2,719,000. It was pledged with a bill of exchange honored by bank, the worth of which was RMB 2,530,000 yuan. After reviewing, our Bank issued an unrevocable usance L/C. Respectively on July 26 and August 7, 1995, our Bank received bills for negotiation from foreign negotiating banks, the total worth of which was USD 2,709,044.88, so we presented the bills to the Light Industry Company. Light Industry Company affirmed the payment of the bill after examining the document within stipulated limitation, and pledged with six one-year bills of exchange honored by bank, total worth RMB 22,486,000 yuan, which was issued on August 2 and August 14, 1995, the acceptor of which was Kunshan Branch of the Industrial and Commercial Bank of China, and the formalities for redeeming documents were went through.Through two separate occasions our Bank accepted the bills and the date of payment was affirmed. Our Bank will pay the sum of money under the L/C on August 2 and August 14, 1996. However, Light Industry Company didn't pay security deposit for issuance of bill. If our Bank can't exercise the right to the pledged bills before paying the sum of money under the L/C, it will affect the payment to others by our Bank, and consequently the reputation of our Bank will be damaged. Therefore it is petitioned that the pledging of the bills be affirmed as lawful and effective. If the bills were defected, it is petitioned that Light Industry Company shall pay USD 2,719,000, which is the sum of security deposit. 原告诉称:1995年6月23日,被告轻工公司向我行提出总金额为271.9万美元的远期汇票开立信用证的申请,并以一张金额为人民币253万元的银行承兑汇票作为开证质押。我行经审查,对外开出了不可撤销的远期信用证。1995年7月26日和8月7日,我行分别接到国外议付行的议付单据,总金额为2709044.88美元,遂向轻工公司提示单据。轻工公司在规定期限内经审单无误确认付款,并将1995年8月2日和8月14日签发的承兑人为中国工商银行昆山市支行,总金额为人民币2248.6万元的6张一年期银行承兑汇票质押在我行,办理了赎单手续。我行分两次对议付行的单据进行承兑,并确认了付款日。我行将于1996年8月2日和8月14日支付信用证项下款项,且轻工公司未支付开证保证金,如我行在划付信用证项下款项前无法及时有效行使质押票据的权利,将影响我行对外支付,损害银行信誉。故诉请确认轻工公司向我行所作的票据质押合法有效。如质押的票据有瑕疵,则请求判令轻工公司交付开证保证金271.9万美元。
Defendant pleaded: Our Company is for import and export. In May 1995, as commissioned by Jiangsu Province Kunshan City Manufacture Service Company (hereinafter Kunshan Company), our Company imported wool as an agent. According to the agreement, our Company applied for L/C to Bank of Investment. After the documents for import arrived, our Company will get back the documents for import with the six bills of exchange honored by bank pledged for redeeming documents. So the pledging of bills between our Company and Bank of Investment is lawful and effective. The contractual dispute concerning foreign trade agency between our Company and Kunshan Company doesn't involve Bank of Investment, and this shall not affect the validity of the pledging of bills between the parties of the present case. Our Company has tried our best to safeguard the lawful rights and interests of the holder of the bills, and if the right of the Bank of Investment shall be infringed upon, this shall not be the fault and responsibility on the part of our Company. The Bank of Investment that has accepted the pledging of bills is a specialist bank; it has not only the obligation but also the means of examination. If Bank of Investment think that the bills have defects, the liability shall not be on our Company. It is petitioned that the court judge according to law. 被告辩称:我司是一家进出口公司。1995年5月,接受江苏省昆山市生产服务公司(下称昆山公司)委托,代理进口羊毛业务。根据约定,我司向投资银行申请开立信用证。在进口单据到达后,我司以昆山公司提供的6张银行承兑汇票作为赎单质押,换回进口单据。因此我司与投资银行这间的票据质押合法有效。我司和昆山公司发生的外贸代理合同纠纷,与投资银行无关,不应当影响本案双方当事人之间的票据质押效力。我司已经尽了最大的努力维护票据持有人的合法权益,如果投资银行的权利受到损害,并非我司的过错和责任。接受票据质押的投资银行是专业银行,不仅有审查的义务,也有审查的手段。如果投资银行认为票据存在瑕疵,其责任不应由我司承担。请人民法院依法判决。
Tianjin Higher People's Court ascertained through trial: on June 23, 1995, because of the importing of wool from Australia Wan Hon Company as an agent for Kunshan Company, defendant Light Industry Company applied to plaintiff Bank of Investment for usance L/C pledged with bill of exchange payable on sight, the total worth of which was USD 2,719,000 and the duration of which was 360 days. Light Industry Company pledged with 90-day usance bills of exchange honored by bank, agreeing that when the documents under the L/C has arrived, a 360-day usance bill of exchange honored by bank the worth of which was equivalent to the sum of money on the invoice shall be submitted to Bank of Investment in order to redeem documents. Before that, the ownership of the goods belongs to the Bank of Investment. After examination, Bank of Investment issued No. 1295YQ1046 unrevocable documentary L/C; price: CIF Xiamen; negotiation duration: 360 days; negotiable against valid documents, invoices and 360-day usance bill of exchange payable on sight with Bank of Investment as negotiating bank, which shall submitted by beneficiary Australia Wan Hon Company.
......
 天津市高级人民法院经审理查明:1995年6月23日,被告轻工公司因代理昆山公司从澳大利亚丸红株式会社进口羊毛,向原告投资银行申请为总金额271.9万美元、付款为360天见票即付的远期汇票开立信用证,轻工公司以人民币253万元的90天远期银行承兑汇票设定质押,约定待信用证项下的单据到达后,交付与发票金额等同的360天远期银行承兑汇票给投资银行,以换取单据。在此之前,货权属于投资银行。经审查,投资银行于1995年6月23日开出“1295YQ1046”号不可撤销跟单信用证,价款:CIF厦门,议付期360天,凭受益人澳大利亚丸红株式会社提交的有效单据及发票同以投资银行为议付人的360天见票的远期汇票议付。
......

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