Words and suggested activities

a Translate the following words into English:

сообщение поСВИФТу............................... сумма...............................................................................

расключевание.............................................. банк-корреспондент.......................................................

контроль........................................................ представляющий банк...................................................

дебетовое авизо............................................ запись..............................................................................

тратта............................................................. ссылка.............................................................................

b Write down the following in full words:

SWIFT........................................................................................

amt..............................................................................................

chgs............................................................................................

id................................................................................................

delv............................................................................................

our ref........................................................................................

NY..............................................................................................

с Give answers to the following questions:

d Sum up all the information about:

• SWIFT, as an organisation

• SWIFT messages

• this SWIFT message

Text 2: Instruments of payment   International payments are made with the help of various instruments, among which the following can be mentioned: • bills of exchange • drafts • promissory notes • and many others. One of the most popular instruments of payment is a bill of exchange. It is drawn by the exporter upon the importer or, by arrangement, upon the importer's bank. As legally defined a bill of exchange is «an 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 a stated future date a sum of money to a certain person or to the order of that person or to the bearer». Most bills of exchange are drawn for three months after date. The bill of exchange illustrated below is drawn by a British exporter, the Excel Machine Company, on an Indian Importer, Raja Singh Import Co., and it is payable at 90 days after date. It is an order to pay and once it is accepted by the drawee, he is legally liable to pay.

§ Vocabulary notes

Note: тратта часто трактуется как переводный вексель и переводится как draft

§ Words and Suggested activities

a Translate the following words into English and make short sentences with them:

вексель......................................................................................

соло-вексель.............................................................................

простой вексель.......................................................................

предъявитель..........................................................................

платить приказу......................................................................

b Answer the following questions:

Text 3: Bank guarantees   Very often the exporters prefer having some guarantee of payment issued by reliable banks or first-rate banks. Here is a sample guarantee form of Barclays Bank: Our guarantee no____________________   We are informed that______________ (hereinafter called the Seller) have entered into a contract with you dated______________for the supply of____________ and that a bank guarantee for [amount] being____% of the contract price is required. On behalf of the Seller we Barclays Bank PLC [branch] hereby give you our guarantee and undertake to pay you any amount or amounts not exceeding in total a maximum of [amount] on receipt of your first demand in writing. Any claims must bear the confirmation of your bankers that the signatures thereon are authentic. This guarantee is valid for written demands received by us on or before [date] after which date our liability to you under this guarantee will cease and this guarantee will be of no further effect. This guarantee is personal to you and is not assignable. This guarantee shall be governed by English law.