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Нажимая кнопку "Продолжить", я принимаю политику конфиденциальности

Active Vocabulary

accept a bill (v)

bank draft

bank money order

bank nolc, note, bill (US)

bearer

bill of exchange

cash (v)

cashier's check (US)

certificate

certified check          ;.-

certify (v)                   i

cheque, check (US)

traveller's cheque

coin

creditor

credit standing

currency

denomination

discount a bill (v) endorse/indorse (v)

forms of exchange honour a bill (v)

 

— акцептовать вексель

— банковская тратта

— банковский денежный
перевод

— банкнота

 

— предъявитель, держатель

— переводной вексель

— получать наличные,
обналичивать

— кассирекий чек

— сертификат, свидетельство

— удостоверенный чек

— заверять, удостоверять

— чек

— дорожный чек

— монета

— кредитор

— кредитоспособность

— денежное обращение,
деньги, валюта

— достоинство, ценность;
деноминация

- дисконтировать вексель

— индонсировать, делать
передаточную надпись

— формы обмена

— акцептовать вексель

 

— идентификация ценных бумаг

— вместо

— выпускать в обращение

— законное платежное средство

— наступать (о сроке платежа)

— отчуждаемый, передаваемый

— ремитент, получатель платежа

по кредитным обязательствам

— плательщик но кредитным обязатель
ствам

— вексель на предъявителя

Dialogue

Read Hie dialogue.

Student: The bank must use just about every form of ex­change in a day's work.

Cashier: Just about. Of course, we constantly handle coins and bills of every denomination.

S.:        They're what you call legal lender.

C.:        Yes. Or currency. A nation's currency is its legal

tender.

But a check isn't legal lender. No. However checks are a very common form of exchange, and they are generally accepted in lieu of currency.

S.:       Are traveller's checks currency?

C.:      Not in a slricl sense. Bui Ihey're immediately ne-

gotiable everywhere. For instance, even merchanls will cash them under mosl circumslances.

S.:        The bearer need only present proper identification.

C.:       Thai's righl.

S.:       Well, whal's a bank nole? Is lhal currency?

C.:       Definitely. Bank notes arc issued by the banks of

 

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the Federal Reserve System, and they're legal len­der just as silver certificates are. Thai's what 1 thought. But gelling haek to checks, why are bank drafts sometimes preferred over checks?

S.: С.. 5.: С .:

Well, in the case of a check, Ihe parly who signs it is the only one who guarantees payment. But a bank draft is issued and guaranteed by a bank. Is that true of cashier's checks, too? Yes. And also of certified checks and bank money orders.

What about sight drafts? Now, sight drafts are different. They're a form of

request for payment through a bank.

Questions on the dialogue:

1. What forms of exchange are called legal lender?

2. Why are checks a common form of exchange?

3. How are traveller's checks useful?

4. Which banks in the USA may issue bank notes?

5. What is the difference between a check and a bank draft?

6. What do cashier's checks, certified checks and bank drafts
have in common ?

7. How do sight drafts differ?

Text

The work of bank centres around money and financial ser­vices. Virtually any activily involving money or advice about financial matters is undertaken by all the commercial banks. The immediate service offered by the bank is the receipt for deposit of coins, notes and cheques and (he cashing of cheques, through current accounts. Coins and notes in circulation have the stalus of "legal lender" lhat is to say they must be laken in payment of a debt although the extenl to which this applies

in the case of coins is deliberately restricted for the sake of convenience.

The most common means of payment, particularly for sig­nificant sums of money, is the cheque since it is both safer and more convenient than using cash. However, it is not le­gal tender and creditors can refuse to accept it if they wish. Normally both national cheques and traveller's cheques arc readily negotiable if the bearer has some means of proving his identity and the creditor can be sure that the cheque will be «honoured». To assist the use of cheques banks now provide their customers with bankers cards which, when used in as­sociation with a cheque, will guarantee it up to a stated maxi­mum. If a customer wishes to make payments of large amounts of money by cheque and is not known to the creditor, then he may obtain a «certified cheque» from his bank. Such a cheque is signed by the bank and therefore payment is guaranteed.

Those trading overseas, or in conditions where there may be a significant time lapse between sending out goods and their receipt by the customer, may use a Bill of Exchange as a means of payment. This is really a post dated cheque which assures the creditor payment but also gives the buyer opportunity to inspect the goods before the transaction is completed. Those whose credit standing is unknown may have to get the Bill «accepted» before a creditor will take it. Such a process guar­antees payment and most work of this kind is undertaken by the merchant banks. Because Bills arc post dated creditors may have to wait some time for their money. They can over­come this problem by endorsing the Bill and then cither dis­counting it with a Discount House or a bank or passing it on to another trader in settlement of a debt of their own. By the time it comes to maturity a Bill may have passed through sev­eral hands and on each occasion it must be endorsed. The commercial banks participate in this activity in two ways: in

part by lending money to the discount houses and in part by

discounting bills for their own customers.

 

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Questions on the text:

1. What forms of money are called legal tender?

2. Why are cheques a common form of exchange?

3. What is the main purpose of a banker's card?

4. What is the special feature of a certified cheque?

5. What is the main use of a Bill of Exchange?

6. Why does a Bill sometimes have to be "accepted"?

7. In which two ways might a creditor who needed the money
dispose of a Bill?

Vocabulary Exercises

List all the forms of money mentioned in Ihe passage and match them with the following definitions:

1. A bank's unqualified guarantee to pay a specified sum to a

specified individual or organization.

2. A negotiable instrument issued only by the Bank of En­
gland and signed by the -Chief Cashier of the Bank.

3. A written order to a bank to pay a slated amoun I of money.

4. A negotiable instrument issued by a bank in exchange for
cash and readily usable in most parts of the world.

5. Token money largely used for small purchases and trans­
actions.

6. A written order to a bank to pay a staled amount of money

to a slated person or, after endorsement, lo Ihe bearer on or wilhin a staled lime after a given date.

II

Choose the right answer: 1. "We constantly handle coins and bills" means:

a) cash Ihem under most circumstances,

b) deal with them,

_c) receive them. 2 "bills of every denomination" denote:

_a) bank notes of different values,

b) bank notes of various sizes,

c) other means of exchange.                 ^
3. "Legal tender" is:                   ••      u

 

a) a type of paper currency,             •'

b) a requirement to accept in settlemenl of a debt,

c) money guaranleed by a government.

;. "both cheques and Iravcllcr's cheques are readily ac­cepted" means:

a) able to be given lo anolhcr parly,

b) certified by the bank thai funds arc available,

c) endorsed by an officer of Ihc bank.

5. "Ihe cheque will be honoured" means:

a) lhal il will be readily accepted by creditors,

b) lhal it will be treated with respect,

c) lhal Ihe bank will be ready lo cash il.

6. "a bearer" is:

a) a person who is named as payee on Ihe exchange docu­
ment,

b) an officer of the bank who endorses the cheque,

c) the person offering Ihc exchange documenI and'demand­
ing payment.

Ill

Say what is true and what is false. Correct the false sen­ tences:

1. Coins and bills of every denomination are called legal ten-

der.

2. Cheques are rarely accepted in lieu of currency.

3. To cash a Iravcller's cheque Ihe bearer need only present
proper identification.

4. Bills of Exchange are not legal lender.

 

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5. A cheque is always guaranteed by a bank.

6. Certified cheques are always guaranteed by a bank.

IV

Using suffixes -cation, -cate, -ment, -ion, -ance, -ature,

etc., give nouns which are related to the following verbs:

accept                                  prefer

certify                                 present

circulate                              regulate

denominate                           settle

endorse                                signify

invest                                     sign

identify                                 stale

pay                                     transact

V

Using prefaces dis-, П-, in-, ir-, un-, non-, etc., give nega­
tives which are related to the following:
accepted                             maturity

common                              negotiable

certified                             necessary

honoured                           regular

legal                                   significant

VI

Combine the words listed below into meaningful two or three word expressions as possible:

account bank bill circulation cashier deposit

proper profit regular reserve shareholders surplus

honoured

investment

identification

legal

money

maturity

 

transaction traveller work undistributed

nation note participation payment

discount endorsing earnings fellow

VII

For each of the following phrases find another one in the. text thai explains it:

1. ivioncy issued by the central bank of a country.

2. A piece of currency made of metal.

3. Unit of the bank note's value.

4. A document in settlement of a large debt guaranteed by
the bank.

5. A document which establishes the identity of a person set­
tling by cheque.

H. Cashing in a Bill of Exchange before it is due for payment. 7. The bank's readiness to accept a cheque for payment.

VIII

Fill in the blanks with proper words or phrases:
bank notes                         honoured

bearer                                identification

coins                                   issued

currency                            traveller's cheques

1. While travelling I do nol like to carry large amounts of

2. 1 prefer to have... which arc immediately negotiable.

3. Traveller's cheques are ..... in different denominations.

4. To cash the traveller's cheque the should present proper

identification.

5. However, there are merchants who will not accept
traveller's cheques even though you present proper...

6. 1 collect...... of every denomination.

 

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Active Vocabulary active account accrue (v) balance (v) cancel a cheque (v) --. compound interest credit (v) debit (v) deposit fund genuine insurance insure against (v) interest on bank credits joint account ledger liquid maturity notice outstanding

IX

Write sentences of your own:

1. to sign a cheque

2. to accept a cheque

3. to cash a cheque

4. to make payment by cheque

5. to certify a cheque

6. to endorse a cheque

7. to make out a cheque

8. to accept liability for

9. to present your identification document

10. to settle business accounts

Unit Three