Exercises

1. Use the nouns as in the example:

• Example

importer/country the importer's country

 

exporter/country exporter/bank exporters/country exporters/bank

exporting bank/country importing bank/country exporting bank/correspondent importing bank/correspondent Mr. Hill/lecture Mr. Hill/words

 

2. Match English and Russian equivalents:

in accordance with the terms and conditions of the contract	Они дают указание банку об оплате.
the underlying commercial contract	Затем они забирают доку­менты.
the documents specified in the contract	Существует несколько спосо­бов перевода денег из одного банка в другой.
to submit the documents. specified	Банк переведет средства на счет экспортера.
the letter of credit issued by the importer's bank	перевести средства должным образом
to reimdurse the proceeds in due course	в соответствии с условиями контракта
The bank will credit the ex­porters with the proceeds.	данный коммерческий кон­тракт
They instruct the bank to pay.	документы, указанные в кон­тракте
They collect the shipping documents then.	представить указанные доку­менты
There are a few ways of transferring money from bank to bank.	аккредитив, выданный бан­ком экспортера

 

3. Underline the verbs in the Passive Voice and translate the sentences into Russian:

It is essential to ensure that payment will be received.

Documentary letters of credit are opened by the importer's bank.

The proceeds are reimbuised by the importer's bank.

Documentary collection bills are presented to the importer's bank

Now mail and telegraphic tiansfers are replaced by SWIFT messages.

A message can be delivered in under 20 seconds.

Over 1 million messages are sent every day.

4. Insert prepositions:

... Monday morning the participants listened... the lecture... pay­ments.. international trade.

It is essential to ensure that payments will be received ... terms and conditions... the contract.

The most secure methods are payments.. documentary letters... credit and. . documentary collection bills.

Documentary letters. credit are opened... a bank.. the exporter's country.

Exporters submit ... the bank all the shipping documents.

If the documents are... order the bank will credit the exporter... the proceeds.

Documentary collection bills are presented... the importer's bank.

... the recent past there were two ways... transfer! ing money... bank... bank.

5. Translate the parts of the text speaking about:

documentary letters of credit

documentary collection bills.

6. Translate into Russian:

the receiving bank

the sending bank

if the banks are logged in...

It carries a deposit balance for another bank.

It carries a deposit balance for another bank located in another city or country.

The correspondent bank engages in an exchange of services with that bank

7. Complete as in the text:

SWIFT stands for the Society...

It's a network serving... banks... countries.

It speeds up payment messages between...

If. . banks are logged-in a message can be delivered...

Over one million... via computers of SWIFT and...

A correspondent bank is one which carries...

8. Find English equivalents in the text:

платеж по документарному аккредитиву —

платеж по документарному инкассо —

представить документы в банк —

открыть аккредитив в банке —

перевести средства —

отправить сообщение по СВИФТ —

банк-корреспондент —

Это ускорит платеж. —

9. Sum up what the text said about:

SWIFT and SWIFT messages

correspondent banks

10. Make short dialogues as in the example:

• Example	letters of credit — The information on letters of credit is not very clear, is it? — I agree with you here. It is not clear at all. (or) — I can't agree with you I'm afraid. Everything is absolutely clear.
	collection bill SWIFT correspondent banks payments bank transfers