Idioms /5.1/

to look into - to make further enquiries/investigations

to get moving - to hurry up

to double check - to check everything carefully, then check again

to be very fussy about smth - to take special care to ensure that everything is in order

PART 2 BUSINESS TERMS /5.2/

export executives - senior members of a company concerned with the export of its products

assessment - judgement, opinion

to go bankrupt - to be unable to pay one's debts. (There are certain legal proceedings before a person can be formally declared bankrupt)

cash flow - the movement of money into and out of a business

Bill of Exchange - a written order made out by the seller telling the buyer to pay a certain sum of money to a named person on demand or at a certain time in the future. It becomes valid when it has been accepted - signed - by the buyer

documents against payment - the customer (drawee) must pay the Bill of Exchange before the bank gives him the documents he needs to get possession of the goods

to draw on him at sight - the customer (drawee) must pay for the goods as soon as the Bill of Exchange is presented to him

draft - a common way of referring to a Bill of Exchange

shipping documents - certain documents which are sent by an exporter's bank to the bank's branch or agent in the importer's country, e.g. Bill of Lading, Commercial Invoice, Insurance Certificate

to hand over to - to give to someone

to draw on him at sixty days - the company (drawer) makes out a draft which requires the customer (drawee) to pay the draft at the end of the specified term (60 days) by signing and accepting the draft

to accept a bill - to promise, by signing across the bill, that it will be paid on the due date

to meet a bill - to pay a Bill of Exchange when it is due

Banker's Draft - also known as Bank Draft, a cheque payable on demand drawn by a bank on itself, and signed by one of its responsible officials

Idioms /5.2/

How do you rate him? - What is your opinion of his reliability as a customer?

up to a point - to a certain extent

on the grapevine - unofficially

to pay on the nail - to pay on the specified date

to put somebody off - to delay giving somebody a decision

I go along with you - I agree with you

UNIT 6 INSURANCE

PART 1 BUSINESS TERMS /6.1/

to insure - to guarantee or protect someone against risk or loss by promising to pay that person money if such loss occurs

to place regular orders with a company - to order goods again and again at regular periods, each week or month

to do business with - to deal with

contact - a person who may be useful in getting business for you or who may wish to do business with you

insurance cover - protection by insurance against the risk of loss

to airfreight - to carry/transport goods by air

to take out a policy - to arrange an insurance contract with an insurer

all risks open policy - this policy insures against all risks named. It is an "open" ("floating") policy, i.e. it gives cover for a specified sum, say $ 1 million, and the holder of the policy does not have to insure each cargo separately. He/she simply declares the value of each cargo and this is set against the policy. As soon as the sums covered come near to the total value of the policy, the holder will renew the premium

theft - the stealing of goods

damage - harm or loss of value because the goods have been broken or spoilt

breakage - damage of goods caused by their being broken in transit

insurance broker - a middleman who acts as an agent for his clients and negotiates the most favourable insurance contracts for them with the insurers

Lloyd's underwriter - an insurer who is a member of the Corporation of Lloyd's. He is so called because his name is written under the insurance policy as a party to the contract. Lloyd's underwriters deal with the public only through Lloyd's brokers

to quote a rate - to state the amount charged by the insurer for different kinds of risk. The amount is usually expressed as a percentage

Cover Note - an acknowledgement in writing from an insurance company proving that a certain insurance contract exists and will be honoured (issued before the policy has been prepared)

record - a written account of the transactions