2. 1) In a standard bill of exchange, who are the drawer, the drawee and the payee?
The drawer whoever issues the bill of exchange
The drawee is the company that has to pay the amount on the bill
The payee is the company on intitution that is paid
2) What is the difference between a bank draft and a trade draft?
A bank draft is issued by the bank, which recieves the money( between being it to,
the exporter)
A trade darft is issued by the exproting company, which recieves the money ditecly
3) Why doesnt the seller of goods have to wait the bill or draft matures before getting paid?
B/c of they can get the bill endored by a bank, which guarantees to pay it if the
importan does not.
The exporter can then sell it on the financial marlcets and get the money that way.
4) Why isnt an endorsed bill paid at 100%?
B/c the buyer deducts the amount of interest it could have gained on the money
until the bill matures.
Language focus:
Asking for repetition:
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N畉u b畉n kh担ng nghe r探 v畉n 畛 m ai 坦 n坦i, b畉n c坦 th畛 s畛 d畛ng nh畛ng c畛m t畛
ph鱈a tr棚n.
Bi t畉p tr畉c nghi畛m:
叩p 叩n:
1. B
2. D
3. D
4. B
5. C
6. C
7. B
8. B
9. C