BILLS OF EXCHANGE AND LETTERS OF CREDIT

BILLS OF EXCHANGE AND LETTERS OF CREDIT - BILLS OF EXCHANGE...

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BILLS OF EXCHANGE AND LETTERS OF CREDIT Matea Grabovac Lana Maravić Tina Trapara
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12/18/11 International financing The financing of foreign trade The capitalization of foreign investments
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Financing foreign trade BUYERS AND SELLERS 12/18/11 Free template from www.brainybetty.com 3
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Bills of lading Essential document for all international sales Lets the buyer and the seller (or their banks) exchange control over the goods It represents the goods 12/18/11
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Bills of exchange Written, dated, signed instrument Useful instrument Important device for facilitating international trade because they are negotiable instruments. 12/18/11
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According to governing law Bills of exchange must: 12/18/11 Free template from www.brainybetty.com 6
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Types of Bills of Exchange Trade Acceptances - commonly used in the sale of goods. 12/18/11 Free template from www.brainybetty.com 7
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Checks - a bill of exchange is a bank, the bill is known as a check 12/18/11 Free template from www.brainybetty.com 8
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Promissory notes 12/18/11 Free template from www.brainybetty.com 9
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Negotiability of Bills and Notes To be negotiable, a bill or note must: ü Contain a promise or an order to pay that is unconditional ü State a definite sum of money or a monetary unit of account ü Be payable on demand or at a definite time ü Be signed by the maker or drawer 12/18/11
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The negotiation and transfer of Bills and Notes Bills and notes have to be freely transferable 12/18/11 Free template from www.brainybetty.com 11
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Negotiation 12/18/11 Free template from www.brainybetty.com
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Endorsements 12/18/11 Free template from www.brainybetty.com 13
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Types of endorsements 12/18/11 Free template from www.brainybetty.com 14
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