Ex. 6. Choose the necessary word and put it in the sentence. 


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Ex. 6. Choose the necessary word and put it in the sentence.



letter of credit, to obtain, exporter, evidence, sufficient, endorsement

 

1) The_________ The person or company that sells or arranges to transport goods out of a country. must endorse the bill of lading and deliver it to the bank in order to receive payment.

2) While all original bills of lading are negotiable, one alone is______________________________ the goods.

3) The_____________ itself can be made to a specific third person or firm, a bank, or in blank.

4) Where collection and payment is through banking channels, as under a_____________________A financing instrument issued by a bank in favor of an exporter that substitutes the bank's creditworthiness for that of the importer. or documentary collection The presentation of documents, through banking channels, relating to the shipment of goods from an exporter (seller) for payment or acceptance by an importer (buyer). (See also Collections.) presentation The beneficiary delivers the documents to the advising bank to negotiate on the seller's behalf. of documents, through banking channels, relating to the shipment of goods from an exporter (seller) for payment or acceptance by an importer (buyer). (See also Collections The process of prompting for and obtaining payment of a debt or other outstanding obligation. Collection actions to secure payment of a past due balance. (See also Documentary Collection.).) presentatio The beneficiary delivers the documents to the advising bank The bank that receives a letter of credit issued by the applicant's bank (the issuing bank) and forwards it to the beneficiary without assuming any responsibility or liability other than to verify the authenticity of the letter of credit. applican The party (generally buyer/importer) for whose account a letter of credit is established. t's bank (the issuing bank) and forwards it to the beneficiary without assuming any responsibility or liability other than to verify the authenticity of the letter of credit. to negotiate on the seller's behalf. n of documents, through banking channels, relating to the shipment of goods from an exporter (seller) for payment or acceptance by an importer (buyer). (See also Collection The process of prompting for and obtaining payment of a debt or other outstanding obligation. Collection actions to secure payment of a past due balance. (See also Documentary Collection.) s.), negotiable bills of lading are required (except for air shipments).

5) The B/L itself is regarded as the best Testimony of witnesses and facts presented to the court and jury by way of writings and exhibits, which impress the minds of the court and jury, to the extent that an allegation has been proven. _____________of the right to make entry.

 

UNIT 4.

 

Ex.1. Before reading the text talk about these questions:

1) What does Ocean Quality belonging to a document to transfer ownership of money, goods, or other items of value specified in the document by endorsement and/or delivery of the document. Bill Of Ladingmean?

2) How many copies of Ocean Quality belonging to a document to transfer ownership of money, goods, or other items of value specified in the document by endorsement and/or delivery of the document. Bill Of Lading are usually signed?

 

Ex 2. Read the text and draw a diagram of business organizations.

 

Quality belonging to a document to transfer ownership of money, goods, or other items of value specified in the document by endorsement and/or delivery of the document. Ocean Bill of Lading

An ocean bill of lading is a contract between an exporter and an international carrier used when transporting goods overseas by ship. It serves as the receipt for goods delivered to a steamship vessel and specifies the conditions and terms of carriage, and the character, weights, measurements, and destinations of the goods shipped. It also specifies the person or company to whom the goods are consigned or who is to be notified of their arrival. Ocean bills of lading are issued as straight bills of lading or "to order" bills of lading.

An ocean bill of lading does not convey title The exclusive rights, powers, privileges and immunities to property, real and personal, tangible and intangible. to the goods until it is properly endorsed. It is created by the shipper and must be based on the dock receipt A receipt for goods issued by an ocean carrier or their agent at their dock or warehouse, but not loaded on a vessel., which the steamship line issues when it receives the cargo. The dock receipt is then exchanged for the bill of lading. Usually, three (3) bills of lading are signed, although the various shippers may ask for more unsigned (and therefore not negotiable) copies for different purposes.

The ocean bills of lading are of two classes: (1) "received for shipment" and (2) "shipped" or "on board." A "received for shipment" bill is issued for a named steamer in which space has been previously reserved and the goods are in the possession of the steamship company. An "on board" bill is issued only after the goods have been loaded on the vessel. Banks often stipulate "on board" bills of lading when issuing a letter of credit.

The ocean bill of lading may be used as a negotiable document and as the basis of a draft drawn to order of the shipper. Drafts or bills of exchange to which are attached a shipper's invoice Document which shows the terms of a sale. Includes a full description of the goods, sale price, charges, and discounts., ocean bill of lading, and an insurance policy are commonly used in making foreign-trade financial settlement. A number of copies of the bill of lading may be necessary, of which at least two are negotiable if settlement is by draft. The shipper is usually required to prepay all freight charges before the steamship company surrenders the bill of lading.

While the steamship companies generally require prepayment, some foreign forwarders accept goods for shipment "freight collect," paying the freight for the manufacturer or exporter.

The Date of Shipment in Ocean Freight

In cases where the bill of lading (B/L) has pre-printed wording indicating that the goods have been loaded on board or shipped on a named vessel, the issuance date of such B/L is considered to be the date of loading on board or the date of shipment.

In cases where the B/L does not have pre-printed wording indicating that the goods have been loaded on board or shipped on a named vessel, the loading on board a named vessel is evidenced by the on board notation (e.g. "on board", "laden on board" or "shipped on board") on the B/L, which must be initialled and dated by the carrier or its agent. The date of the on board notation is considered to be the date of shipment.

Transhipment Clauses in Ocean Bills of Lading

If the bill of lading incorporates clauses stating that the carrier reserves the right to tranship, then the transhipment is allowed even if the letter of credit (L/C) prohibits transhipment.

 

 

Vocabulary

2) to consign – предназначать

3) to notify – извещать, уведомлять

4) to convey – перевозить, транспортировать

5) title – юр. право собственности на что-л.

6) to stipulate – ставить условия, обуславливать, оговаривать

7) invoice – счет-фактура

8) settlement – оплата, расчет, урегулирование

9) to surrender – подчиняться

10) rendered void – становиться лишенным юридической силы

11) to superimpose – накладывать (одно на другое)

12) rider – поправка, изменение

13) collateral An asset pledged as a security guarantee for a financial transaction. guarantee To assume liability for the debts or obligations of another in the event of a default. for a financial transaction. guarante To assume liability for the debts or obligations of another in the event of a default. e for a financial transaction. – дополнительный

14) to omit – пропускать, упускать

15) to prove – доказывать, подтверждать

16) therefore – поэтому, следовательно

17) notation – запись, примечание

18) steamer – пароход

19) clause- пункт, статья

 

 



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