Тестовые и контрольные вопросы по языку (6 семестр)
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payments in international trade

with any form of international trade it is essential to ensure that payment will be received in accordance with the terms of the underlying commercial contract. the most secured and established methods of setting international trade transactions are:
• by documentary letters of credit and
• by documentary collection bills.
documentary letters of credit are opened by the importer's bank with a bank in the exporter's country, usually the importing bank's correspondent in the exporting country. exporters submit to the bank in their country all the shipping, insurance and other documents specified in the letter of credit issued by the importer’s bank. if the documents are in order the bank in the exporting country will credit the exporter’s with the proceeds. the proceeds are reimbursed by the importer’s bank in due course.
documentary collection bills are presented to the importer’s bank or its correspondent by the exporters together with all the shipping, insurance and other documents, specified in the contract. if the documents are in order the importers instruct their bank to pay and they collect the shipping documents then.

ii. вопросы:

1. who opens documentary letters of credit?
documentary letters of credit are opened by the importer's bank with a bank in the exporter's country, usually the importing bank's correspondent in the exporting country.
2. when do the importers instruct their bank to pay?
if the documents are in order the importers instruct their bank to pay and they collect the shipping documents then.

3. whom are the proceeds reimbursed by?
the proceeds are reimbursed by the importer’s bank in due course.

4. what is international trade?
5. what are the most secure and established methods of setting international trade transactions?