Financial documents lesson 1

Financial documents
Урок 1

The main types of financial documents are:
-bills of exchange (drafts),
-cheques,
-telegraphic and mail transfers,
-letters of credit,
-invoices.

The bill of exchange or draft (often abbreviated as BE) is an order in writing form addressed by one person to another, signed by the person giving it (drawer) and requiring the person to whom it is addressed (drawee) to pay on demand or at a fixed or determinable time, a certain sum of money to, or to the order of specified person (payee) or to bearer
To put it simple, a bill of exchange is an order addressed by one person to another obliging the latter to pay a specified sum of money.
One should note that the bill is due three days later than the four months` time stipulated in the contract-these three extra days according to an old English tradition are cold days of grace.

Слова из урока 1

Bills of exchange
Drafts
BE
Cheque
Telegraphic transfers
Mail transfers
Letters of credit
Invoices
Order
Pay on demand
Drawer
Drawee
Payee
Specified sum of money
Stipulated
According to
Days of grace



Financial documents lesson 1