According to the Commercial Banking Law of our country' the total sum of the working capit
A.50%
B.40%
C.60%
D.0.7
A.50%
B.40%
C.60%
D.0.7
Through the courtesy of the Commercial Counselor of your Embassy in London , we come to know your name and address. Also we are informed that you are a prospective buyer of Chinese Cotton Piece Goods. As this item falls within the scope of our business activities , we shall be pleased to enter into business relations with you.
We enclose a brochure and a pricelist to acquaint you with our commodities now available for export. Quotations and samples will be airmailed to you upon receipt of your specific inquiry.
Your favorable reply will be highly appreciated.
Yours faithfully
A.goods loaded on board' freight paid
B.goods loaded on board' freight payable at destination
C.goods received for shipment' freight paid
D.goods received for shipment' freight payable at destination
A.Purchasing a note receivable.
B.Receiving less money than the principal amount of the note.
C.Selling a note receivable before maturity.
D.Giving up some of tile interest revenue of the note.
What determines the rate of exchange between currencies will be examined later in this booklet, but first it is useful to consider the mechanics of international transactions. To enable a UK importer to pay his American supplier, for example, the facilities of two or more banks are used, firstly in handling the often complex documentation and secondly, through the foreign exchange market, in obtaining the currency required. At one time payments to and from other countries were made by bills of exchange; hence in part the term "exchange rate", which was maintained even though other methods of payment have largely superseded the bill of exchange. The British importer will probably need to pay his American supplier in dollars and his British bank can offer him several alternative methods of settlement. It can provide him with a banker's draft drawn in dollars. The bank is able to do this because it will have an account with another bank (called a correspondent bank) in an American city and it simply issues a dollar cheque or draft drawn on that account. The British importer can then send this draft by airmail to the supplier.
Since there is a danger that the draft may be lost or fall into the wrong hands' the safer and more normal method would be for the British bank to arrange for payment by mail transfer. Instructions are sent by airmail to the correspondent bank in the US to pay on behalf of its customer the required sum to the named recipient from the British bank's dollar account. This mail transfer system is very flexible since the instructions for payment can be varied or elaborated to suit practically every kind of requirement.
How many methods of settlement are mentioned in this passage when the British importer needs dollar to pay his Americans supplier?
A.Two.
B.Three.
C.One.
D.Several.
A.banks that specialize in the management of wealthy people's investments
B.financial institutions that make loans to corporations
C.dealers in primary markets
D.none of the above
A.citizenship and residency are the same thing from the viewpoint of the balance of payments statistics
B.citizenship and residency are almost the same thing from the viewpoint of the balance of payments statistics
C.citizenship and residency are indeed the same thing from the viewpoint of the balance of payments statistics
D.citizenship and residency are not necessarily the same thing from the viewpoint of the balance of payments statistics
A.a vostro account...a nostro account
B.a nostro account...a vostro account
C.a mirror account...a nostro account
D.a vostro account...a mirror account
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