Vocabulary:

transfer	- перевод (денежных сумм)
letter of credit	- аккредитив, кредитное письмо
bill of exchange	- тратта, переводной вексель
to draw on smb	- выписывать, выставлять (чек, вексель)
to negotiate a bill	- переуступить/продать/учесть/ вексель, пустить вексель в обращение
domicile	- домицилий, место платежа по векселю (обычно банк-акцептант)
to discount a bill	- учитывать вексель, тратту
to dishonour	- отказывать в акцепте (векселя); отказывать в платеже (по векселю)
endorsement	- передаточная надпись (на чеке, векселе и т.д.), индоссамент, жиро, подпись на обороте, подтверждение
confirmed letter of credit	- подтвержденный аккредитив

Exercises:

Exercise 1. Find equivalents in English:

Безотзывный аккредитив, дисконтная ставка, по требованию, банк-акцептант, обеспечение кредита, выписывать вексель на кого-либо, домицилирование векселя, обращаемый, номинальная стоимость, векселедержатель, вексельный оборот, ремитент, предъявлять вексель к акцепту, опротестовать вексель, индоссамент, обязанное по векселю лицо, индоссант, простой вексель, векселедатель, плательщик, срок по векселю, возлагать обязательства, полный индоссамент.

Exercise 2. Translate into Russian:

1. A bill payable on demand is deemed to be overdue when it appears on the face of it to have been in circulation for an unreasonable length of time, the question of unreasonableness being one of the fact.

2. If the drawee refuses to accept the holder has an immediate right of recourse against prior parties without being compelled to wait for the date of maturity.

3. Once the due date has passed, the bill is said to be overdue, and failure to present on that day discharges the drawer and endorsers, unless the holder can bring himself within the exemptive provision.

4. Delay in presenting a bill for payment does not discharge the drawer, unless he suffers actual losses through the delay.

5. A note payable on demand is intended as a continuing security and is negotiated as such.

6. The paying banker is liable in conversion to the true owner, the damages recoverable being the face value of the bill.

7. A banker is not to be treated as having been negligent by reason only of his failure to concern himself with absence of, or irregularity in, endorsement of an instrument.

Exercise 3. Translate into Russian:

Dear Sirs,

We have been doing business with you for nearly a year and are pleased to say that we are more satisfied with the goods you have supplied.

In the coming year we will probably place regular orders with you and our present method of payment by letter of credit will become inconvenient. We would also find a short credit of advantage to our trading capacity.

We would therefore like you to supply us on monthly account terms , payment against statement within 30 days. You may refer to Messrs… and Messrs…, with whom we have credit accounts.