Английский язык. Бочкарева Т.С - 22 стр.

to its bank, which may or may not be the advising bank, and the bank will make
payment immediately. Thus it can do with confidence, since it knows that the issuing
bank must make payment. Funds then flow from the issuing bank in Australia to the
paying bank in Switzerland, as reimbursement for the money paid by the Swiss bank to
the seller in Basle. The Australian bank then recovers this money from the account of its
customer, the importer.

     Comprehension Qquestions
     1 What situation has led to the growth in the overseas operations of major banks?
     2 Why do the banks play a key role in the import and export trade?
     3 What is the most frequently used international service provided by banks for
customers?
     5 What does a letter of credit guarantee?
     7 What kinds of letters of credit do you know?
     10 What is the issuing or opening bank?
     11 What is the advising bank?

     6.2 Vocabulary Practice

     Exercise 1 Choose the necessary word and put it into the sentence.

     1 Banking may be said to be the one ... on which         1 seller
     all others depend for financial services at one time
     or another.
     2 Banks play a key role in the ... and export trade in   2 import
     particular.
     3 ... are the most frequently used international         3 fulfilled
     service.
     4 Such a document guarantees that the ... will be        4 industry
     paid provided the terms of the contract are met.
     5 Until the contract is ... payment will                 5 letters of credit
     not be made.
     6 Letter of credit on a time basis calls for             6 shipment
     immediate payment against the documents
     evidencing the ... of goods.




     Exercise 2 Translate into English.

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