Accept, airmail, consignee, discharge, endorsing in blank, law, negotiable, packing, present, receipt, responsibility, shipped, title, transfer, unclean.

 

The Bill of Landing is important in international finance, insurance, and (1)……….. It is the legal (2)……….to ownership of the goods described on the Bill of Landing. The (3)………..cannot accept delivery of his consignment unless he possesses a copy.

You can describe a Bill of Landing in one way by saying that it is a (4)……….signed by the captain of the ship, stating that he has received the goods on board his ship. A Bill of Landing signed by the captain after he receives and inspects the goods on board ship is called (5)………..Bill of Landing. If the goods are damaged before they reach the ship the captain or the ship owners issue an (6)…………Bill of Landing (sometimes called ‘dirty’ or ‘foul’). If the captain receives the goods on board in good condition, the full title of the document he signs is ‘clean, shipped on board Bill of Landing’. Banks usually demand shipped Bills of Landing before they accept (7)………..for the credit.

The holder of a Bill of Landing can (8)………..possession of the goods to another person or company by (9)……….or signing on the back of it. In other words, the Bill of Landing, unlike the Air Bill, is a (10)……….document. If a buyer or bank asks the seller not to restrict the negotiability of the Bill of Landing, they demand that it should be endorsed (11)……….

The details printed on the Bill of Landing must include the port of loading and the port of (12)……….. The type of packing must also be stated. Examples of this are cases, crates, and boxes.

When the Bill of Landing is completed, copies are sent by (13)……….on separate days, so if one is lost, the other may reach the importer. The importer, or consignee as he is described on the Bill of Landing, can then (14)……….the Bill of Landing to the shipping company and (15)……….delivery of his goods.

 

VII. Translate into English:

 

1. Фактуры разделяются на торговые, консульские и фиктивные в зависимости от назначения.
2. Фактура является документом, содержащим описание и расценки отправляемых товаров.
3. Фиктивная фактура служит своего рода уведомлением о расценках на заказ.
4. Фактура необходима для предъявления администрации порта и таможенным властям для растаможивания товаров.
5. Груз должен сопровождаться транспортной или авиагрузовой накладной.
6. В транспортных накладных указываются грузополучатель и грузоотправитель, право собственности на груз, средства оплаты, например, вексель.
7. Транспортные накладные могут быть с оговорками, например, о порче груза.
8. При использовании ордерных коносаментов на бланке делается передаточная надпись с указанием доверенного лица.

 

 

Text C

The Bank of England

The bank of England was founded in 1694 by a group of wealthy merchants and landowners for the purpose of raising a loan for King William III in order to finance his war against Louis ХIV, King of France. Although it was a private bank, it enjoyed a special relationship with the government, and became, in effect, the government’s bank. In 1946 the Bank of England was nationalized and since then has been formally under the control of the Treasury, the government’s financial ministry. The Governor of the Bank of England is appointed, in theory, by the Queen, in practice, by the Prime Minister on the advice of the Chancellor of the Exchequer.

As the government’s bank, the Bank of England carries out many functions. It runs the accounts of government departments and handles the government’s vast number of financial payments, receipts and transfers. It also raises money for the government by the sale of government securities and treasury bills. Government securities or gilts are long-term fixed interest loans, payable by the government at a fixed date up to twenty years in the future. Treasury bills are short-term loans sold at a discount and repaid at their face value after ninety-one days. Another responsibility of the bank is the issue of bank notes. It is the only bank in England and Wales which is allowed to issue bank notes, although in Scotland and Northern Ireland the commercial banks issue their own notes. Finally the Bank of England manages the gold and currency reserves and by buying and selling these can influence the sterling exchange rate.

The Bank of England is also the bankers’ bank, since all banks doing sterling business in the United Kingdom are required to have accounts with it. Commercial banks use these accounts to make payments to one another. The Bank of England can influence the behaviour of commercial banks by controlling the amount of money it requires them to deposit in their accounts. If it increases the amount required, then the banks will have less money to lend to their customers, and this will have an effect on the economy as a whole.

The Bank of England exercises the general authority and supervision over the banking and financial system in the United Kingdom, maintaining good order and confidence. The Bank is situated in Threadneedle Street, in the heart of the City of London.

In the City of London you can see literally dozens of banks, both British and foreign, in every street. There are the headquarters and several branches of the major British banks: Barclays, Lloyds, Midland and National Westminster – which occupies the tallest building in London. These banks have a branch network all over the United Kingdom and provide ‘retail’ banking services for individuals as well as for both large and small companies. They offer two kinds of accounts – deposit accounts which bear interest and current accounts for which a cheque book is provided to withdraw and transfer money. The clearing of cheques, together with other money transfer systems is a major activities of these banks, that is why they are called ‘clearing banks’. They cooperate to clear cheques through the Bankers’ Clearing House, a centralized cheque-clearing system based in the City of London.

Unlike the clearing banks, merchant banks do not normally provide services to the general public. They are specialized ‘wholesale’ banks with a small staff and no branch network, which raise loans for large companies and governments and provide financial and investment advice. They are involved in the financing of international trade and will accept or guarantee Bills of Exchange, that is why they are sometimes referred to as ‘accepting houses’.

Foreign banks in London generally concentrate on international banking, particularly in Eurodollar market – Eurodollars are US dollars held in bank accounts outside the USA.

However, recently some foreign banks have begun to land money to companies in Britain and a few have started to offer banking services to a general public, although on a limited scale, since they do not have a branch network. Banks are gradually becoming more like one another and it is more accurate to talk of merchant banking and retail banking rather than merchant banks and retail banks. The British clearing banks now have their own merchant banking divisions and are engaged in extensive international operations and some merchant banks are now offering banking services to the general public. The rapid advances in technology make a branch network less important than

it used to be as a basis for offering services to the public. The present trend is for all banks to offer a wide range of financial services to all types of customers.

 

 

Содержание

 

1. Unit 1A “ Starting a business”………………………………………………..4

2. Unit 1B “Business plan”………………………………………………………9

3. Unit 1C “Bank loans”………………………………………………………...14

4. Unit 2A “Budgeting”…………………………………………………………18

5. Unit 2B “Insurance”…………………………………………………………..23

6. Unit 2C “A loan agreement (part 1-2)………………………………………...28

7. Unit 3A “Taxation”……………………………………………………………29

8. Unit 3B “Business organization”……………………………………………...32

9. Unit 3C “A loan agreement (part 3-4)………………………………………....35

10. Unit 4A “Joint-stock company………………………………………………...36

11. Unit 4B “Organization structure”……………………………………………...41

12. Unit 4C “A loan agreement (part 5-6)…………………………………………44

13. Unit 5A “Production…………………………………………………………...45

14. Unit 5B “Products and brands”………………………………………………...50

15. Unit 5C “A loan agreement” (part 7-8)………………………………………...53

16. Unit 6A “Labour unions”……………………………………………………….54

17. Unit 6B “Who needs unions? ”………………………………………………….58

18. Unit 6C “A loan agreement” (part 9)……………………………………………60

19. Unit 7A “A preparation for negotiations”……………………………………….61

20. Unit 7B “Business letter”………………………………………………………..64

21. Unit 7C “Types of business letters”……………………………………………..67

22. Unit 8A “Business documents”………………………………………………….71

23. Unit 8B “The Bill of Landing”…………………………………………………..74

24. Unit 8C “The Bank of England”…………………………………………………78

 

 

 

 

 

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