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FINANCIAL DOCUMENTS

FINANCIAL DOCUMENTS. A CHEQUE is a written order to a bank given and signed by someone who has money deposited there to pay a certain amount mentioned in a cheque to a person named on it. A BILL of EXCHANGE ( a sight draft )is a bill which is paid immediately on presentation.

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FINANCIAL DOCUMENTS

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  1. FINANCIAL DOCUMENTS • A CHEQUE is a written order to a bank given and signed by someone who has money deposited there to pay a certain amount mentioned in a cheque to a person named on it. • A BILL of EXCHANGE ( a sight draft)is a bill which is paid immediately on presentation. • A term draft is a bill to be paid at a later date(30-day, 60-, 90- and 120-day drafts).

  2. Words and word combinations • Deposit • Telegraphic transfer (TT) • Mail remittance • Bill of lading • Insurance policy • Invoice • Acceptance • Letter of credit

  3. QUESTIONS • What is a cheque? • What are the two types of drafts? • What is L/C? • What is an invoice?

  4. Terms of Delivery • In international commerce, an agreement between the seller and the buyer as to who is responsible for the cost and risk of delivering the goods. Cost and risk may rest exclusively with either party, or may be split at a certain point. The International Chamber of Commerce has set approximately a dozen different terms of delivery

  5. INCOTERMS • | CFR | CIF | CIP | CPT | DAF | DDP | DDU | DEQ | DES | EXW | FAS | FCA | FOB | • http://www.searates.com/reference/incoterms

  6. INCOTERMS 2000 • CFR — Cost and Freight Cost and Freight • CIF — Cost, Insurance and Freight Cost, Insurance and Freight • CIP — Carriage and Insurance Paid Тo Carriage and Insurance Paid Тo • CPT — Carriage Paid To Carriage Paid To • DAF — Delivered At Frontier Delivered At Frontier

  7. INCOTERMS 2000 • DDP — Delivered Duty Paid Delivered Duty Paid • DDU — Delivered Duty Unpaid Delivered Duty Unpaid • DEQ — Delivered Ex Quay Delivered Ex Quay • DES — Delivered Ex Ship Delivered Ex Ship • EXW — EX Works EX Works

  8. INCOTERMS 2000 • FCA — Free Carrier Free Carrier • FOB — Free On Board Free On Board

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