Read and translate the text.

2. Translate the following words and learn their pronunciation:

acceptor; creditor; debtor; discredit; failure; reputation; transference; transaction; binding; fundamental; urgent; isolated; unquestionable; subject to; equally; quarterly; debt; acknowledge; legally

3. Give English equivalents of the following:

а) акцептор; дебитор; кредитор; банковский счет; банковский перевод; переводной вексель; аккредитив; текущий курс обмена валюты; день оплаты; авансом; по открытому счету; поквартально; юридически обязательный; неоплаченный в установленный срок; акцептировать; опротестовать вексель; преследовать в судебном порядке

б) судебное разбирательство; единичная (разовая) сделка; безупречная репутация; полная дискредитация; полностью доверять; подлежать (подвергаться) чему-л.; по требованию

4. Explain the meaning of the following in English:

acceptor; creditor; debtor; a bill of exchange; a letter of credit; a banker’s transfer; to accept

5. Answer the following questions:

• 1) What types of payments in foreign trade do you know?
• 2) In what way may they be made?
• 3) When are payments in advance used?
• 4) What is the method of payment in such cases?
• 5) Whom are open acount terms granted to?
• 6) In what way is payment in these cases made?
• 7) What is the banker’s transfer?
• 8) What is necessary for a customer to do while paying by banker’s transfer?
• 9) What is the bill of exchange?
• 10) When does the B/E become legally binding?
• 11) What is the letter of credit?
• 12) How does it work?
• 13) Why are both the buyer and the seller secure?