Section One Directions: In this section ,you will hear ten short statements. Each statement will be spoken only once. After each statement, there will be a pause. During the pause, you must read the four suggested answers marked A, B, C and D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.
A.The relationship between the drawee and collecting bank will be taken into consideration first of all.
B.The remitting banker's instructions will be paid much more attention.
C.The remitting banker's instructions will be less important than the relationship between the drawee and collecting bank.
D.The remitting banker must consider the relationship between the drawee and collecting bank.
A B C D
B
[解析] The instructions of the remitting bank override the relationship, if any, between the drawee and collecting bank.
录音单句意思为“汇出行的指示胜过付款人和托收行之间的关系。”
5.
A.Not all the customers are allowed by Internet banking to transact business.
B.Internet banking allows any customer to transact business from certain places.
C.Internet banking allows any customer to transact business from certain time.
D.All customers are allowed by Internet banking to transact business.
A B C D
D
[解析] Internet banking allows any customer to transact business from anywhere, at any time.
单句意思为“网上银行使客户可以在任何地点、任何时间进行交易”。
Section Two Directions: In this section, you will hear ten short conversations. At the end of each conversation, a question will be asked about what was said. The conversation and question will be spoken only once. During the pause, you must read the four choices marked A, B, C, D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.
[解析] M: The paper money required little effort to carry. If you need large amount of money, you can use a check or credit card to make the payment. W: This nature of money is called portability and it provides convenience in settling transactions. Q: What does the word portability mean?
[解析] M: What margins will the lending bank charge? W: Margins mainly depend on these factors: evaluation of credit risk, maturity of credit, and the starting point from which onwards the rate of interest shall be firm. Q: How many factors do margins charged by the lending bank mainly depend on?
录音原文提到Margins mainly depend on…the rate of interest shah be firm.所以C选项正确。
3.
A.A contractual arrangement.
B.A counterpart.
C.Many types of risks.
D.Credit risk.
A B C D
D
[解析] M: Can you give an example of types of risks Banks face? W: Yes. The major type of risks is called credit risk. It means a counterpart fails to perform according to a contractual arrangement. Q: What are they talking about?
他们在谈论银行所面临的风险,女士说“The major type of risks is called credit risk.”,所以D选项符合题意。
4.
A.Bills of lading.
B.Consular invoice.
C.Insurance policy.
D.Certificate of origin.
A B C D
B
[解析] M: Could you tell me what specific document you will provide? W: Together with the draft, we'll also send you a complete set of bills of lading, an invoice, an export license, an insurance policy, a certificate of origin, and a certificate of inspection. Q: What document the woman did not mention?
A.He got a credit card of his friend and come to ask how to use it.
B.He got a card and did not know whose card it is.
C.He has lost his credit card and come to ask what to do.
D.He has found a credit card and come to ask what to do.
A B C D
C
[解析] M: I've lost my credit card issued by your bank. What should I do, please? W: I am sorry for that. But you have to go to that counter over there for the card business. Q: Why does the customer come to the bank?
录音原文中男士说:I've lost my credit card issued by your bank,即他丢失了信用卡,来银行想知道该怎么办。
Section Three Directions: In this section, you will hear three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.
[解析] 21-23 Credit card fraud is a big problem. Card fraud in the U.S. involving bank cards alone totaled $ 680 million last year, which represented an increase of more than 35% over a 10-year period. However, the tide is beginning to turn, and the growth percentage of fraud is diminishing technologies are becoming more widely used. In 1994, Visa card fraud in the U. S. was as new equal to the figure posted in 1992. At Master Card, bogus card transactions rose 14% from 1993 to 1994. Even so, the growth rate has slowed considerably from the beginning of the decade. That looks good news for bankers and for average card holders as well. 21. What is the passage mainly about?
录音原文开头提到Credit card fraud is a big problem.由此可知B选项正确。
2.
A.$ 680 million
B.$ 860 million
C.$ 680 billion
D.$ 860 billion
A B C D
A
[解析] How much did bank card fraud involve in U.S. last year?
录音原文提到Card fraud in the U.S. involving…$680 million last year,所以A选项正确。
3.
A.It's the same over the 10-year period.
B.It's getting worse over the 10-year period.
C.It's getting better over the 10-year period.
D.There is no way to solve the problem.
A B C D
C
[解析] What conclusion can we draw concerning card fraud?
录音原文最后提到the growth rate has…for average card holders as well.过去10年以来,信用卡违约增长率在不断的下降,这对银行和信用的持有者来说是一件好事。
B.To have the right to make full use of the bank's facilities.
C.To open an account in the bank.
D.To protect the depositor's interest.
A B C D
A
[解析] 24-26 When a savings account is opened in a bank, the depositor must sign a deposit agreement. By signing agreement, the depositor agrees to abide by the rules and regulations of the bank. At this time, a passbook may be given to the depositor. This is a small book in which the bank teller enters the date and amount of each deposit or withdrawal and initials the entry. The passbook is to be presented at the bank or mailed to the bank along with a deposit or withdrawal slip each time money is deposited or withdrawn from the account. An alternative practice for depositing or withdrawing money from a savings account is to give the depositor a small register for recording deposits and withdrawals and a pad of deposit withdrawal rotors. This procedure eliminates the use of the passbook. 24. What is the purpose of signing a deposit agreement?
录音原文中提到By signing agreement,the depositor…rules and regulations of the bank.通过签订存储协议,存款人会遵守银行的规则。
2.
A.He makes deposits with a bank.
B.He withdraws money from a savings account.
C.He withdraws money from a checking account.
D.Both A and B.
A B C D
D
[解析] What does a depositor do with a passbook?
存款人用存折来取钱或存钱。所以D选项符合题意。
3.
A.To attract deposits.
B.To improve bank services.
C.To eliminate the use of the passbook.
D.To promote banking business.
A B C D
C
[解析] What is the aim of a small register and a pad of deposit withdrawal forms?
录音原文中提到a savings account is to give the depositor…eliminates the use of the passbook.
[解析] 27-30 We will live in a society when cash no longer exists. Instead, "cash" would be electronic, as in bank-card systems. Notes and coins would be abandoned. Its benefits would be profound and fundamental. Theft of cash would become impossible. Bank robberies and cash-register robberies would cease to occur. Urban streets would become safe. Retail shops in once dangerous areas could operate in safety. Neighborhoods would improve. National electronic-money system would operate as a debit-card system. Each individual's money would be held in his money-system account. A transaction would affect an instant transfer of money from his account to that of another account holder. Only cash would be supplanted by electronic money. Credit card and automatic-teller-machine system would not necessarily change, although you could no longer obtain cash at ATMs. 27. In future, what kind of form will the money be?
录音原文提到We will live in a society…would be electronic,as in bank-card systems.
2.
A.Cash would be no longer in use.
B.There would be more safety guards.
C.More prisons would be set up.
D.People would be better off.
A B C D
A
[解析] According to the passage, why would the neighborhoods improve?
因为有了银行的电子系统,现金就不再使用了,因而也就不用担心小偷,城市周围就会安全了很多。
3.
A.Letters of credit
B.Electronic funds-transfer technology
C.Credit cards
D.Traveler's checks
A B C D
B
[解析] What make(s) it possible to divorce money from evil?
根据录音原文,B选项符合题意。
4.
A.In a cash-free society, bank robberies and cash register robberies would not occur.
B.Retail shops could operate in safety.
C.Automatic-teller-machine system would have to change.
D.Purse snatching would simply become impossible.
A B C D
C
[解析] According to the passage, which of the following statements is false?
录音原文最后一句提到Credit card and automatic-teller-machine system would not…obtain cash at ATMs. automatic-teller-machine system没有必要改变。
Part Two Reading
Section One Directions: There are three passages in this section. Each passage is followed by some questions or unfinished statements. For each of them, there are four choices marked A, B, C and D. You should make the best choice and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center. Passage 1 Commercial bank deposits, including demand deposits, are subject to immediate withdrawal during regular banking hours at the request of the depositor with the exception of certain time deposits, discussed in this section. Demand deposits may be withdrawn in the form of currency or coin, or they may be transferred to another account at any commercial bank. Demand deposits at commercial banks can be transferred by bank check and are sometimes called checking accounts. No money interest is paid on demand deposits. Checkable NOW accounts, or share drafts at credit unions, which are available to consumers but not business depositors, pay interest. Technically, they are savings accounts that are accessible by a negotiable order of withdrawal. Savings deposits at commercial banks and thrifts can usually be withdrawn as currency or coin, or as a cashier's check of the bank (a check drawn against the issuing bank) ; they may be trans-fenced into the depositor's demand deposit account at the same bank, although technically the bank may refuse to withdraw or transfer a savings account for 30 days. Time deposit accounts with specified maturities are exceptions to the convention that commercial bank deposits should be convertible to cash on demand. Prior to the date of maturity, the bank may refuse to exchange such a time deposit claim or may impose a penalty fee. The time deposit pays interest, giving it one of the characteristics of other private bonds. Consumer or personal time deposits include CDs in denominations of less than $100,000. They are non-negotiable; that is, they cannot be sold and must be returned to the issuing bank by the original purchaser. Until 1976, there were effective ceilings on interest payments. In 1973, consumer CDs were first authorized with ceiling interest yields closer to market interest rates. They were called money market certificates.
1. Which of the following is excluded from the commercial bank deposits?
2. How do people draw money with a commercial bank against a NOW account?
A.By a bank check.
B.By a demand.
C.By a negotiable order of withdrawal.
D.By a draft.
A B C D
C
文章第一段最后提到Checkable NOW accounts,… they are savings accounts that are accessible by a negotiable order of withdrawal。NOW accounts的提取只要个人填写一张议付取款单即可。在商业银行里需要进行商洽后,才能取得。所以C选项正确。
3. Into what kind of account can a savings deposit be transferred at the same bank?
A.A time deposit account of the depositor.
B.A demand deposit account of the depositor.
C.A NOW account of the depositor.
D.A fixed time account of the depositor.
A B C D
B
文章第二段提到Savings deposits may be transferred into the depositor's demand deposit account at the same bank,savings deposit在文中指活期存储账户,所以B选项正确。
4. What can we learn from the third part of the passage?
A.Time deposit accounts are not subject to the convention so that they can not be converted to cash before their maturity date.
B.Commercial banks may impose a penalty fee on all kinds of accounts.
C.People can get interest payment when they exchange their tired deposits for private bonds.
D.Banks may refuse to transfer a time deposit into a savings deposit.
A B C D
A
第三段主要在讲定期存款,该段第一句指出Time deposit accounts…should be convertible to cash on demand。定期存款有一个specified maturities(指定到期时间)在指定的到期时间没有到来时,一般是不能提款的,否则会impose a penalty fee。
5. Which of the following is not mentioned in the passage?
A.CDs are a kind of consumer time deposits.
B.All the consumer or personal time deposits are non-negotiable.
C.No money interest is paid on personal time deposits.
D.The interest yields of consumer CDs are closer to market interest rates.
A B C D
C
文章最后一段提到there were effective ceilings on interest payments,由此可知C选项错误。
Passage 2 The balance of payments is a statistical record of all the economic transaction between residents of the reporting country and residents of the rest of the world during a given time period. The usual reporting period for all the statistics included in the accounts is a year. A good or bad set of figures can have an influential effect on the exchange rate and can lead policy makers to change the content of their economic policies. Deficits may lead to the government raising interest rate or reducing public expenditure to reduce imports. Alternatively, deficits may lead to calls for protection against foreign imports or capital controls to defend the exchange rate. A key definition that needs to be resolved at the outset is that of a domestic and foreign resident. It is important to note that citizenship and residency are not necessarily the same thing from the viewpoint of the balance of payments statistics. The term residents comprises individuals, households, firms and the public authorities. There are some problems that arise with respect to the definition of a resident. Multinational corporations are by definition resident in more than one country. For the purposes of balance-of-payments reporting, the subsidiaries of a multinational are treated as being a resident in the country in which they are located even if their shares are actually owned by domestic residents. Another problem concerns the treatment of international organizations such as the International Monetary Fund, the World Bank and the United Nations. These institutions are treated as being foreign residents even though they may actually be located in the reporting country. For example although the International Monetary Fund is located in Washington, contributions by the US government to the Fund are included in the US balance-of-payments statistics because they are regarded as transactions with a foreign resident. Tourists are regarded as being foreign residents if they stay in the reporting country for less than one year. The criterion for a transaction to be included in the balance of payments is that it must involve a transaction between a resident of the reporting country and a resident from the rest of the world. Purchases and sales between residents from the same country are excluded.
6. What is the balance of payments?
A.The balance of payments is a digital table of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.
B.The balance of payments is a figured table of all the economic transactions between residents of the reporting country and resident of the rest of the world during a given time period.
C.The balance of payments is a statistical record of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.
D.The balance of payment is a digital record of all the economic transactions between residents of the reporting country and residents of the test of the world during a given time period.
A B C D
C
文章第一段提到The balance of payments is a statistical record…residents of the rest of the world during a given time period。所以C选项正确。
7. Which of the following statement is true?
A.Deficit may lead government to reduce interest rate.
B.Deficit may lead government to raise expenditure on imports.
C.Surplus may lead government to stimulate imports from foreign countries.
D.Surplus may lead government to reduce expenditure on imports.
A B C D
C
文章第一段最后一句提到Alternatively,deficits may lead to…to defend the exchange rate。
8. It is important to note that ______.
A.citizenship is less important than residency are the same thing from the viewpoint of the balance of payments statistics
B.citizenship has a broader meaning than residency
C.citizenship and residency are indeed the same thing from the viewpoint of the balance of payments statistics
D.citizenship and residency are not necessarily the same thing from the viewpoint of the balance of payments statistics
A B C D
D
文章第二段提到It is important to note that…the balance of payments statistics。所以D选项正确。
9. Which of the following transaction is not included in Chinese balance of payments?
A.Bond transaction with Citibank.
B.Service transaction between local enterprise and Sino-foreign joint company incorporated in China.
C.Capital inflow to Beijing subsidiary of Swiss multinationals.
D.Loan from IMF.
A B C D
C
trade surplus贸易顺差。贸易顺差过大政府部门就会鼓励进口。所以C选项符合题意。
10. What is the alternative name of the World Bank?
A.International Bank for Reconstruction and Development.
B.International Financial Corporation.
C.International Development Association.
D.International Settlement Bank.
A B C D
D
World Bank的另一名字是International Settlement Bank。
Section Two Directions: There are ten statements in this section. For each statement there are four choices marked A, B, C and D. You are supposed to choose the best answer and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.
1. Money market securities are ______.
A.essentially issued by governments, financial institutions, and large corporations
B.very liquid and earns high return
C.denominated in small sums so that individual investors can deal in them
2. You are requested to send us ______ to authenticate the cable L/C issued by your bank in the future.
A.your specimen signatures book
B.your telegraphic test key
C.your tariffs
D.your terms and conditions
A B C D
A
由银行开出的电开信用证需要签名进行鉴别真假。specimen signatures book签名样本。telegraphic test key电报测试密匙。terms and conditions条款。tariffs关税。
3. Cost accounting analyzes a business's cost to help managers ______.
A.expend money
B.control expenses
C.pay the debts
D.make budget
A B C D
B
句意:成本会计分析企业的成本以帮助经理控制开支。好的成本会计记录可以指导经理为其产品和服务定价,以获得最大的利润。pay the debts还债。make budget制定预算。
4. The owner's equity in a business comes from two sources: ______. (1) Investment by the owner (2) Notes receivable (3) Earnings from profitable operation of business (4) Accounts receivable
A.(2) and (4)
B.(1) and (3)
C.(1) and (2)
D.(3) and (4)
A B C D
B
句意:所有者权益来源两方面:一是投资者投入,二是留存收益。the owner's equity所有者权益。notes receivable应收票据。earnings from profitable operation of business留存收益。accounts receivable应收账款。
5. The price in the foreign exchange market is called ______.
8. Under D/P, all the documents, and usually title to the goods, are released to the buyer upon ______.
A.his acceptance of the draft for payment at a specified later date
B.his payment of the amount specified under reserve
C.his partial payment of the bill amount
D.his payment of the amount specified
A B C D
D
在付款交单结算方式下,当买方付清全部款项时,卖方才会转移货物所有权。title to the goods货物所有权。D/P(document against payment)付款交单。
Section Three Directions: There are 10 blanks in the following passages. For each blank, there are four choices marked A, B, C and D. You are supposed to choose the best answer and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.
Passage One FLOOR BROKERS, when a commission broker has 1 that he cannot execute personally because of their number or because of the activity of the market, he engages the services of a floor broker. These floor brokers were once referred to as $ 2 brokers, because at one time they charged a fee of $2 per 2 ; today this fee is 3 higher. Commissions are shared on these orders. It is easy to see that smaller commission brokers are especially prone to 4 by an influx of orders. The floor broker, as a freelance operator, provides a 5 function in ensuring that the exchange's business is conducted rapidly and efficiently.
Passage Two Liabilities are usually classified as either current or noncurrent liabilities. Current liabilities are those obligations whose 1 is reasonably expected to require the use of existing resources properly classified as current 2 , or the creation of other current liabilities. This definition of current liabilities emphasizes a short-term creditor's claim to working capital rather than to the due date for 3 purposes. Accounts payable, dividends payable, salaries payable, and taxes payable are examples of current liabilities. Liabilities which are not current liabilities are 4 as noncurrent or long-term liabilities. Bonds payable and mortgages payable are examples of 5 liabilities.
Section Four Directions: Read the following passages and determine whether the sentences are " Right" or "Wrong". If there is not enough information to answer "Right" or "Wrong", choose "Doesn't say". Then mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.
Passage One The market for large business certificates of deposit or negotiable certificates of deposit (CDs) in denominations of $100,000 or more has been active since 1961. It is a money market specializing in the sale of Marketable, interest-yielding deposit certificates with specified maturity dates, issued by four types of financial intermediaries. Domestic CDs are issued by US banks. Dollar-de- nominated CDs issued by banks outside the United States are called Euro CDs. The CDs issued by US branches of foreign banks are called Yankee CDs. Thrift CDs are the name used to designates CDs issued by domestic thrifts. The holder of a CD who wishes to exchange it for money before its maturity date will ask a money market participant (often a commercial bank) to arrange a sale through a specialized dealer. There is an active secondary market in CDs centered in New York. There are approximately 25 dealers in CDs. The CD is an instrument that allows the depository intermediaries to raise funds at competitive market rates. It is called one of their managed liabilities. Since they loan out funds at their lending rates, they would normally keep their advertised prime rate above the CD rate. As noted previously, the prime rate formula that had been used by Citibank set the prime one-and-a-half percentage points above the previous three-week average of 90-day (3-month) CDs sold in the secondary market. The yield on 3-month CDs is usually higher than 3-month Treasury bills. Treasury bills have a lower default risk and exempt from state and local tax. This may explain the extent of the spread.
1. Euro CDs are the negotiable certificates of deposit denominated in European currencies issued by American hanks outside the United States.
A.Right
B.Wrong
C.Doesn't say
A B C
B
文章第一段提到Dollar-denominated CDs issued…called Euro CDs。以美元标价且由在美国本土以外的美国银行发行的大额定期存单,被称之为Eurs CDs。negotiable certificates of deposit (CDs)可转让定期存单。certificates of deposit定期存单。
2. CDs may be exchanged for money before its maturity date either in money markets or at commercial banks.
A.Right
B.Wrong
C.Doesn't say
A B C
C
文章第二段开头提到The holder of a CD…will ask a money market participant (often a commercial bank) to arrange a sale through a specialized dealer。并没有提及在哪里交易。a specialized dealer专业交易者。
3. The reason why the market for large CDs has been active since 1961 may be that the yield is usually higher than Treasury bills.
A.Right
B.Wrong
C.Doesn't say
A B C
A
文章最后一段提到The yield on 3-month CDs is usually higher than 3-month Treasury bills…This may explain the extent of the spread。
Passage Two The primary justification tot banking supervision is to limit the risk of loss to depositors, and by so doing to maintain public confidence in banks. And while supervision naturally focuses on the individual bank, supervisors must also be alert to the possibility that problems in one institution may have wider, systemic repercussions on others, or on the integrity of the payments system.
1. Supervisors have the obligation to save a failing bank.
A.Right
B.Wrong
C.Doesn't say
A B C
C
文章开头提到银行监管的责任limit the risk of loss…confidence in banks.,并没有提及save a failing bank。
2. Supervisors usually pay more attention to the individual bank.
A.Right
B.Wrong
C.Doesn't say
A B C
A
从文章第二句话And while supervision naturally focuses on the individual bank…可以看出。
3. A sound bank will not suffer from the bankruptcy of other unrelated banks.
A.Right
B.Wrong
C.Doesn't say
A B C
C
段落最后指出problems in one institution may have wider,systemic repercussions on others,or on the integrity of the payments system,并没有明确指出运营良好的银行不受其他无关银行破产的影响。
Passage Three To finance the national debt, the government issues a variety of debt securities. The most widely held liquid security is the Treasury bill, which is commonly issued by the ministry of finance. However, some Treasury bills, like the Treasury bill of the U.S. government, do not actually pay interest. Instead they are issued at a discount from par ( their value at maturity) . The investor's yield comes from the increase in the value of the security between the time it was purchased and the time it matures. Treasury bills are attractive to investors because they are backed by the government and therefore are virtually free of default risk. Because even if the government ran out of money, it could simply print more to pay them off when they mature. The risk of unexpected changes in inflation is also low because of the short term to maturity. The markets for Treasury bills in most developed countries are deep and liquid. A deep market is one with many different buyers and sellers. A liquid market is one in which securities can he bought and sold quickly and with low transaction costs. Investors in markets that are deep and liquid have little risk that they will not be able to sell their securities when they want to.
1. Treasury bills are short-term and virtually free of default risk.
A.Right
B.Wrong
C.Doesn't say
A B C
A
第二段提到because they are backed by…of the short term to maturity。
2. As some treasury bills do not actually pay interest, they are not attractive to investors.
A.Right
B.Wrong
C.Doesn't say
A B C
B
第二段开始明确提及Treasury bills are attractive to investors…。
3. The markets for treasury bills in most developed countries have many different buyers and sellers.
A.Right
B.Wrong
C.Doesn't say
A B C
A
第二段提及The markets for Treasury bills in most developed countries are deep and liquid. A deep market is one with many different buyers and sellers,在发达国家,国库券市场层次分明,流动性强。市场层次分明是指国库券市场有大量不同类型的买主和卖主。因此该说法是正确。
4. Investors in deep and liquid markets face immense risk that they will not be able to sell their securities when they want to.
A.Right
B.Wrong
C.Doesn't say
A B C
B
最后一句Investors in markets…when they want to。
Part Three Writing
Section One Directions: Translate the following sentences into Chinese. Write your translation on the ANSWER SHEET.
1. The main task of a bank's foreign exchange department is to enable its commercial or financial customers to convert assets held in one currency into funds of another currency.
银行外汇部门的主要任务是把贸易或金融客户持有的一种货币资产兑换为另一种货币资产。
2. The advent of Web based commerce has added new layers of complexity and unpredictability to the worlds of commercial and retail banking, investment banking, back-end processors and front-end financial software providers.
3. Normally a financial market consists of foreign exchange market, money market, bond market and equity market. The last two markets usually fall into the category of securities market or capital market.
通常,金融市场包括外汇市场、货币市场、债券市场和股票市场。债券市场和股票市场又属于资本市场。
4. The securities and futures markets are vital to the growth and strength of market economies as they support corporate initiatives, finance the exploitation of new ideas and facilitate the management of financial risk.
Section Two Directions: Describe the buyer credit procedure of providing loan to importer's bank on-lending to the importer, in the order of the numbers given in the chart. Write your answer on the ANSWER SHEET.
1.
① Exporter's Bank and Importer's Bank conclude a general agreement of export credit. Importer's Bank requests and Exporter's Bank agrees to make available the Facility Line pursuant to the terms and conditions of the agreement. ② Exporter and Importer conclude a supply contract. ③ Exporter and Importer made an application to Exporter's Bank and Importer's Bank respectively. ④ Exporter's Band signs an individual loan agreement with Importer's Bank to finance the contract after they have accepted the applications, respectively. ⑤ Exporter's Bank make an application for the individual loan agreement to government's export credit agency and the loan agreement comes into effect after the export credit agency has approved it.
Section Three Directions: Write a bank letter according to the following requirements. Write your answer on the ANSWER SHEET.
April 4th, 2008 A Bank Road × × ×, London Dear Sirs,
Documents under L/C No. × × ×
We are informed that your good bank has dishonored the set documents under the L/C No. × × presented by our hank, × × × Bank of China. It is stipulated in the letter dated × × × that documents be presented within the valid maturity of above mentioned L/C, so the point that L/C is out of validity stands no ground; the caption of B/L is indeed multimodal transport bill, the contents of which is in compliance with the requirements of "Port to Port" ( UCP 500) ; it's acceptable that the name of carrier isn't stipulated elsewhere instead of in the place of signatories. Your favorable honoring of the above mentioned documents is appreciated. Yours truly, John Smith Manager of × × ×