Cheque (be) check (ae) - English for Banking & Finance
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A cheque is a document that orders the payment of money from one party to another. It contains information about the drawer (issuer), payee (recipient), drawee (financial institution), amount, and signature. There are different types of cheques such as nominal, to order, nameless, transfer, cash, traveller's, and crossed cheques. The process for cheque clearing has time limits that vary depending on whether the cheque was issued within one country, continent, or multiple countries.
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Bài tập hối phiếu
The document provides details of three export contracts including goods, prices, shipment dates, and payment terms.
For the first contract, the summary would be:
The seller completed shipment of 700 ladies sportswear items by the deadline of June 20, 2004 according to the contract. The seller opened an account at a bank in Vietnam to receive payment 60 days after shipment.
For the second contract, the summary would be:
The seller completed shipment of goods by the deadline of March 25, 1996 according to the letter of credit. The seller issued invoice number AQ1345 on March 25, 1996. The advising bank of the letter of credit served the exporter.
For the third contract, the summary
Mac_Vietnam Banking System
The document discusses Vietnam's banking system. It outlines the roles of the State Bank of Vietnam (SBV) and commercial banks. The SBV acts as the central bank, issuing currency, setting monetary policy, and supervising commercial banks. Commercial banks accept deposits, provide loans, and facilitate payments. However, Vietnamese banks still face challenges like weak risk management and an incomplete legal framework. The document aims to provide an overview of Vietnam's banking system and the relationships between the SBV and commercial banks.
Eximbank
The document summarizes the history and services of EximBank in Moldova. It notes that EximBank was created in 1994 and is now fully owned by the Italian Veneto Banca Group. It provides a range of banking services to individuals and businesses, including deposits, loans, banking cards, and international operations. EximBank has over 34,000 clients and a network of 18 branches and 22 representative offices across Moldova.
Banking
This document contains information about Kashyap Joshi, a student in Divison 3 with Roll Number 134/58. It then lists various types of relationships like debtor-creditor, pledger-pledgee, etc. It discusses a banker's obligations to honor customers' cheques if they have sufficient funds, the funds are applicable for payment, the banker has been required to pay, and the cheque is presented within a reasonable time and not prohibited by a court order. It provides details on determining sufficiency of funds, applicability of funds, requirements for the banker to pay, and reasonable time for cheque presentation.
Cheque payment
This document discusses cheques and encashment. It defines what a cheque is and outlines the key parties and requisites of a cheque, including that it must be in writing, drawn on a specified banker, for a sum certain, signed by the drawer, and payable on demand. The document also covers types of cheques, essentials for cheque payment such as sufficient funds and proper form, and circumstances where a bank may pay money by mistake and attempt recovery.
Banking law & practices
This document discusses the relationship between bankers and customers, as well as the rights, duties, and obligations of bankers. It notes that the banker-customer relationship can take several forms, including debtor-creditor, pledger-pledgee, licensor-licensee, bailor-bailee, and hypothecator-hypothecatee. The rights of bankers include the right of appropriation, lien, and set-off, as well as the right to charge interest and service fees. Bankers' duties include informing customers of forgeries, account balances, and responding to notices of death, as well as repaying money and providing notice before closing accounts. Obligations of bankers involve honoring checks
Banker customer relationship d[1]
This document discusses the banker-customer relationship and the duties and rights of both parties. It covers topics such as:
- The definition of banking and what constitutes a customer relationship
- The types of transactions between a banker and customer and the roles each play (e.g. debtor, creditor)
- The duties of a banker including honoring checks, maintaining secrecy, and rendering accounts
- Exceptions where a banker can disclose customer information or break secrecy
- The rights of a banker including lien, set-off, and appropriation
- When the relationship can be terminated and the customer's corresponding duties
Banker's duty of secrecy
Bankers have a duty of secrecy to keep their customers' affairs confidential, even after an account is closed or the customer passes away. This duty is a legal obligation, and breaching it could result in damages. There are some exceptions to this duty of secrecy, including when disclosure is compelled by law, such as responding to a court summons. Disclosure may also be allowed where there is a duty to the public or where the bank's interests require it, such as informing a guarantor when trying to recover debts. Disclosure with a customer's express or implied consent is also permitted.
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Bài tập hối phiếu
The document provides details of three export contracts including goods, prices, shipment dates, and payment terms.
For the first contract, the summary would be:
The seller completed shipment of 700 ladies sportswear items by the deadline of June 20, 2004 according to the contract. The seller opened an account at a bank in Vietnam to receive payment 60 days after shipment.
For the second contract, the summary would be:
The seller completed shipment of goods by the deadline of March 25, 1996 according to the letter of credit. The seller issued invoice number AQ1345 on March 25, 1996. The advising bank of the letter of credit served the exporter.
For the third contract, the summary
Mac_Vietnam Banking System
The document discusses Vietnam's banking system. It outlines the roles of the State Bank of Vietnam (SBV) and commercial banks. The SBV acts as the central bank, issuing currency, setting monetary policy, and supervising commercial banks. Commercial banks accept deposits, provide loans, and facilitate payments. However, Vietnamese banks still face challenges like weak risk management and an incomplete legal framework. The document aims to provide an overview of Vietnam's banking system and the relationships between the SBV and commercial banks.
Eximbank
The document summarizes the history and services of EximBank in Moldova. It notes that EximBank was created in 1994 and is now fully owned by the Italian Veneto Banca Group. It provides a range of banking services to individuals and businesses, including deposits, loans, banking cards, and international operations. EximBank has over 34,000 clients and a network of 18 branches and 22 representative offices across Moldova.
Banking
This document contains information about Kashyap Joshi, a student in Divison 3 with Roll Number 134/58. It then lists various types of relationships like debtor-creditor, pledger-pledgee, etc. It discusses a banker's obligations to honor customers' cheques if they have sufficient funds, the funds are applicable for payment, the banker has been required to pay, and the cheque is presented within a reasonable time and not prohibited by a court order. It provides details on determining sufficiency of funds, applicability of funds, requirements for the banker to pay, and reasonable time for cheque presentation.
Cheque payment
This document discusses cheques and encashment. It defines what a cheque is and outlines the key parties and requisites of a cheque, including that it must be in writing, drawn on a specified banker, for a sum certain, signed by the drawer, and payable on demand. The document also covers types of cheques, essentials for cheque payment such as sufficient funds and proper form, and circumstances where a bank may pay money by mistake and attempt recovery.
Banking law & practices
This document discusses the relationship between bankers and customers, as well as the rights, duties, and obligations of bankers. It notes that the banker-customer relationship can take several forms, including debtor-creditor, pledger-pledgee, licensor-licensee, bailor-bailee, and hypothecator-hypothecatee. The rights of bankers include the right of appropriation, lien, and set-off, as well as the right to charge interest and service fees. Bankers' duties include informing customers of forgeries, account balances, and responding to notices of death, as well as repaying money and providing notice before closing accounts. Obligations of bankers involve honoring checks
Banker customer relationship d[1]
This document discusses the banker-customer relationship and the duties and rights of both parties. It covers topics such as:
- The definition of banking and what constitutes a customer relationship
- The types of transactions between a banker and customer and the roles each play (e.g. debtor, creditor)
- The duties of a banker including honoring checks, maintaining secrecy, and rendering accounts
- Exceptions where a banker can disclose customer information or break secrecy
- The rights of a banker including lien, set-off, and appropriation
- When the relationship can be terminated and the customer's corresponding duties
Banker's duty of secrecy
Bankers have a duty of secrecy to keep their customers' affairs confidential, even after an account is closed or the customer passes away. This duty is a legal obligation, and breaching it could result in damages. There are some exceptions to this duty of secrecy, including when disclosure is compelled by law, such as responding to a court summons. Disclosure may also be allowed where there is a duty to the public or where the bank's interests require it, such as informing a guarantor when trying to recover debts. Disclosure with a customer's express or implied consent is also permitted.
Cheque
There are three types of negotiable instruments: promissory notes, bills of exchange, and cheques. A cheque is an unconditional order in writing to a banker to pay a certain sum of money. A cheque can be dishonored for reasons like insufficient funds or a frozen account. Under Section 138 of the Negotiable Instruments Act, a person whose cheque is dishonored can be punished with up to 2 years imprisonment, a fine of twice the cheque amount, or both. The legal process for recovering money from a dishonored cheque involves issuing a notice, filing a criminal case if payment is not made, presenting evidence, and the court issuing a judgment.
DISHONOUR OF CHEQUES
This document discusses dishonored cheques under Section 138 of the Negotiable Instruments Act 1881 in India. It defines what a cheque is and different types of cheques. It explains that a cheque is dishonored if the bank does not credit it for reasons like insufficient funds or signature mismatch. The document outlines the 5 ingredients required for an offense under Section 138 and the legal procedure for filing a complaint, including sending a demand notice within 30 days, allowing 15 days for payment, and filing a complaint within 30 days of the cause of action. It notes the punishment for dishonoring a cheque is up to 2 years imprisonment and a fine up to twice the cheque amount. Some possible defenses in such cases are also listed.
Banker and customer Realtionship
A banker is defined as a person who carries on the business of receiving money and collecting data for customers, with the obligation to honor payments from their current accounts. A customer is a person who maintains an account with the bank, regardless of how often they use the account. The relationship between a banker and customer is generally that of a debtor and creditor, but it can also involve special relationships like pledger and pledgee, bailor and bailee, trustee and beneficiary, agent and principal, advisor and client, or hypothecator and hypothecatee. Bankers have rights like lien, setoff, appropriation, and to charge interest and fees. Their obligations include accepting deposits, honoring checks
Banking terms and kinds of cheque
This PPT Presentation consists, Banking Terms, Types of Bank Accounts in Pakistan, Types of Bank Cheque.
A Presentation by
Snawer Gill
MS-Scholar
cheques presentation
This document summarizes a seminar on cheques given by five students. It defines a cheque, outlines the essential features of a valid cheque, and describes the different types of cheques. It also discusses endorsement of cheques, the roles and responsibilities of a paying banker and collecting banker, circumstances for dishonoring a cheque, and the protections provided to paying and collecting bankers under Indian law.
Banker and customer relationship
The document discusses key definitions and concepts relating to the banker-customer relationship under UK law, including:
1) The definition of a bank focuses on collecting deposits, paying cheques, and keeping customer accounts. A customer relationship is formed upon account opening.
2) Regulations include various Banking Codes covering retail, business, and mortgage customers. The Data Protection Act governs use of customer data.
3) Key implied terms in the banker-customer contract include duties to repay deposits, honour valid instructions, give notice before account closure, and maintain confidentiality of customer information.
Rights & Duties of Customers - Banking Operations
Brief presentation on basic Rights offered by bank to customers & duties which lies on customers end.
Cheque
1. A cheque is a negotiable instrument that is drawn on a bank and used to make payments to a specified person or bearer. It must be in writing, drawn on a particular bank, unconditional, signed by the account holder, and payable on demand.
2. There are different types of cheques including bearer cheques, order cheques, open cheques, crossed cheques, anti-dated cheques, post-dated cheques, stale cheques, and mutilated cheques. Crossed cheques can only be deposited, not cashed.
3. Alterations to essential information like the date, amount, or payee name would make a cheque invalid unless initial
Crossing Of Cheques
There are two types of cheque crossings: general and special. A general crossing involves drawing two parallel transverse lines on the cheque with optional words like "and company" or "not negotiable" written between the lines. A special crossing involves writing the name of a banker across the cheque, with optional words like "not negotiable". The crossings provide directions to the paying banker to not pay the cheque over the counter and ensure the money is paid into an account, making the recipient traceable.
E payment system
Brief description about the various E-Payment Systems :
E-Cash, E-Cheques,E-Wallets, Credit and Debit Cards transaction systems, Electronic Clearing Systems...
Their various drawbacks and advantages and disadvantages.
Crossing of cheque
A cheque is a written order from a customer to their bank to pay a specified sum of money to a payee. It has three key parties - the drawer (customer), drawee (bank), and payee (recipient of funds). There are different types of cheques including bearer, open, crossed, generally crossed, specially crossed, not negotiable, and restrictively crossed ("account payee") cheques. Crossed cheques provide more security than open cheques by requiring payment through a bank instead of in cash over the counter.
Negotiable Instruments
Negotiable instruments are written documents that entitle the holder to a sum of money. There are three main types: promissory notes, bills of exchange, and checks. A promissory note contains an unconditional written promise by the maker to pay a specified sum of money. A bill of exchange is an unconditional order in writing from a drawer to a drawee requiring payment to a payee. A check is a written order from a depositor to a bank to pay a specified sum to a payee on demand.
BANKER CUSTOMER RELATIONSHIP
The relationship between a banker and a customer can take several forms depending on the type of account or transaction. The main relationships include:
1. Creditor-debtor, with the customer as creditor and banker as debtor for deposit accounts.
2. Debtor-creditor, with the roles reversed for loan accounts where the customer is the debtor.
3. Trustee-beneficiary for safe deposit accounts, where the banker acts as trustee for items kept for safekeeping.
The banker also has obligations to maintain customer confidentiality and honor checks properly presented, while customers must abide by terms of accounts like joint accounts.
Banker and Customer Relationship
The summary provides an overview of the key aspects of the relationship between a banker and a customer according to the document:
1. The relationship can be general, where the banker is a debtor and the customer is a creditor, or it can be special, with the banker taking on additional roles as a trustee, bailee, lessor, agent, custodian, or guarantor.
2. Banks must follow know-your-customer guidelines and apply customer due diligence to comply with anti-money laundering regulations.
3. The main types of bank accounts are current accounts, savings accounts, fixed/term deposits, and recurring deposits, each with different eligibility and features.
Types of the negotiable instruments
This document defines and describes different types of negotiable instruments. It begins by explaining that negotiable instruments are transferable written orders to pay a sum of money. The main types discussed are checks, promissory notes, and bills of exchange. Checks are drawn on a bank and payable on demand, while promissory notes contain an unconditional promise to pay, and bills of exchange contain an order to pay. The document outlines the key parties, features, and legal definitions of each type of instrument. It emphasizes that to be valid, a negotiable instrument must be in writing, signed, state a fixed sum to pay, and be freely transferable.
cheques.pptx
A cheque is a document that orders the payment of money from one party to another. It contains information about the drawer (issuer), payee (recipient), drawee (financial institution), amount, date, and signature. A cheque circulates through the payment system from the drawer's bank to the payee's bank to fulfill the payment obligation. Regulations determine time limits for cheque processing and validity periods.
unit - 6.pptx
Negotiable instruments are legal documents that can be transferred between parties as a form of payment. Common examples include cheques, promissory notes, and bills of exchange. Cheques allow parties to transfer money from a bank account, while promissory notes and bills of exchange facilitate credit transactions. Negotiable instruments must meet certain legal requirements to be enforceable, such as being in writing, containing an unconditional order of payment, and specifying the amount to be paid. Misusing these instruments by forgery, fraud, or bouncing payments can result in legal penalties like fines and imprisonment according to Nepali law. Proper use of negotiable instruments is important for commercial and financial transactions.
Negotiable instruments act
The Negotiable Instruments Act 1881 evolved over many years through several drafts to address objections from the mercantile community regarding deviations from English law. The Act was originally drafted in 1866 but faced issues being passed. It was redrafted in 1877 and again in 1880 on the recommendation of a new law commission. The fourth draft introduced in 1881 became the Negotiable Instruments Act 1881 that is still in force today. The Act governs negotiable instruments like promissory notes, bills of exchange, and cheques by establishing definitions, rights, and liabilities of parties involved.
Lect 6 Materials Management - Import Purchase
This document provides an overview of international purchasing and import procedures. It discusses key activities like sourcing and procurement. The main steps of an international purchase include sourcing, negotiation, import clearance, purchase orders, payments, shipping, and receiving goods. International purchases are impacted by laws of both countries and changing regulations. Thorough research and planning is required due to various costs and legal liabilities. The regulatory framework in India involves several government ministries and agencies that govern trade policy, banking, duties and tariffs. Common documentation for imports includes bills of lading, commercial invoices, certificates of origin, and insurance policies. Price and transfer terms as well as customs procedures are also outlined.
How import Finance works in daily life and its uses
Letter of credit is a conditional guarantee issued by a bank on behalf of an importer to make payment to an exporter for shipped goods. It minimizes risks in international trade where parties may not know each other. Letters of credit provide protection to importers and exporters and are one of the most common and secure import financing methods. They involve an importer, exporter, issuing bank, advising bank, and sometimes a confirming or negotiating bank, with each party playing a defined role in the transaction process and documentation requirements.
Negotiable instruments
This document defines and explains the key characteristics of negotiable instruments including bills of exchange, promissory notes, and cheques. It states that a negotiable instrument is a device for transferring debt from one person to another and includes any document where ownership can be transferred through simple delivery. The document then outlines the essential elements and parties involved in promissory notes, bills of exchange, and cheques. It provides comparisons of their characteristics and differences between the instruments.
a letter of credit is a payment mechanism whereas a bill of exchange is a pay...
This document defines a bill of exchange, outlines the key parties involved, and describes the essential components. A bill of exchange is a non-interest bearing written order used in foreign trade that binds one party to pay a fixed amount to another at a future date. It must be in writing, signed, contain an unconditional order for a fixed sum, and specify certain parties such as the drawer, drawee, payee, and acceptor. A bill of exchange provides a means for international trade by allowing creditors and debtors to transfer money for goods between countries.
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Cheque
There are three types of negotiable instruments: promissory notes, bills of exchange, and cheques. A cheque is an unconditional order in writing to a banker to pay a certain sum of money. A cheque can be dishonored for reasons like insufficient funds or a frozen account. Under Section 138 of the Negotiable Instruments Act, a person whose cheque is dishonored can be punished with up to 2 years imprisonment, a fine of twice the cheque amount, or both. The legal process for recovering money from a dishonored cheque involves issuing a notice, filing a criminal case if payment is not made, presenting evidence, and the court issuing a judgment.
DISHONOUR OF CHEQUES
This document discusses dishonored cheques under Section 138 of the Negotiable Instruments Act 1881 in India. It defines what a cheque is and different types of cheques. It explains that a cheque is dishonored if the bank does not credit it for reasons like insufficient funds or signature mismatch. The document outlines the 5 ingredients required for an offense under Section 138 and the legal procedure for filing a complaint, including sending a demand notice within 30 days, allowing 15 days for payment, and filing a complaint within 30 days of the cause of action. It notes the punishment for dishonoring a cheque is up to 2 years imprisonment and a fine up to twice the cheque amount. Some possible defenses in such cases are also listed.
Banker and customer Realtionship
A banker is defined as a person who carries on the business of receiving money and collecting data for customers, with the obligation to honor payments from their current accounts. A customer is a person who maintains an account with the bank, regardless of how often they use the account. The relationship between a banker and customer is generally that of a debtor and creditor, but it can also involve special relationships like pledger and pledgee, bailor and bailee, trustee and beneficiary, agent and principal, advisor and client, or hypothecator and hypothecatee. Bankers have rights like lien, setoff, appropriation, and to charge interest and fees. Their obligations include accepting deposits, honoring checks
Banking terms and kinds of cheque
This PPT Presentation consists, Banking Terms, Types of Bank Accounts in Pakistan, Types of Bank Cheque.
A Presentation by
Snawer Gill
MS-Scholar
cheques presentation
This document summarizes a seminar on cheques given by five students. It defines a cheque, outlines the essential features of a valid cheque, and describes the different types of cheques. It also discusses endorsement of cheques, the roles and responsibilities of a paying banker and collecting banker, circumstances for dishonoring a cheque, and the protections provided to paying and collecting bankers under Indian law.
Banker and customer relationship
The document discusses key definitions and concepts relating to the banker-customer relationship under UK law, including:
1) The definition of a bank focuses on collecting deposits, paying cheques, and keeping customer accounts. A customer relationship is formed upon account opening.
2) Regulations include various Banking Codes covering retail, business, and mortgage customers. The Data Protection Act governs use of customer data.
3) Key implied terms in the banker-customer contract include duties to repay deposits, honour valid instructions, give notice before account closure, and maintain confidentiality of customer information.
Rights & Duties of Customers - Banking Operations
Brief presentation on basic Rights offered by bank to customers & duties which lies on customers end.
Cheque
1. A cheque is a negotiable instrument that is drawn on a bank and used to make payments to a specified person or bearer. It must be in writing, drawn on a particular bank, unconditional, signed by the account holder, and payable on demand.
2. There are different types of cheques including bearer cheques, order cheques, open cheques, crossed cheques, anti-dated cheques, post-dated cheques, stale cheques, and mutilated cheques. Crossed cheques can only be deposited, not cashed.
3. Alterations to essential information like the date, amount, or payee name would make a cheque invalid unless initial
Crossing Of Cheques
There are two types of cheque crossings: general and special. A general crossing involves drawing two parallel transverse lines on the cheque with optional words like "and company" or "not negotiable" written between the lines. A special crossing involves writing the name of a banker across the cheque, with optional words like "not negotiable". The crossings provide directions to the paying banker to not pay the cheque over the counter and ensure the money is paid into an account, making the recipient traceable.
E payment system
Brief description about the various E-Payment Systems :
E-Cash, E-Cheques,E-Wallets, Credit and Debit Cards transaction systems, Electronic Clearing Systems...
Their various drawbacks and advantages and disadvantages.
Crossing of cheque
A cheque is a written order from a customer to their bank to pay a specified sum of money to a payee. It has three key parties - the drawer (customer), drawee (bank), and payee (recipient of funds). There are different types of cheques including bearer, open, crossed, generally crossed, specially crossed, not negotiable, and restrictively crossed ("account payee") cheques. Crossed cheques provide more security than open cheques by requiring payment through a bank instead of in cash over the counter.
Negotiable Instruments
Negotiable instruments are written documents that entitle the holder to a sum of money. There are three main types: promissory notes, bills of exchange, and checks. A promissory note contains an unconditional written promise by the maker to pay a specified sum of money. A bill of exchange is an unconditional order in writing from a drawer to a drawee requiring payment to a payee. A check is a written order from a depositor to a bank to pay a specified sum to a payee on demand.
BANKER CUSTOMER RELATIONSHIP
The relationship between a banker and a customer can take several forms depending on the type of account or transaction. The main relationships include:
1. Creditor-debtor, with the customer as creditor and banker as debtor for deposit accounts.
2. Debtor-creditor, with the roles reversed for loan accounts where the customer is the debtor.
3. Trustee-beneficiary for safe deposit accounts, where the banker acts as trustee for items kept for safekeeping.
The banker also has obligations to maintain customer confidentiality and honor checks properly presented, while customers must abide by terms of accounts like joint accounts.
Banker and Customer Relationship
The summary provides an overview of the key aspects of the relationship between a banker and a customer according to the document:
1. The relationship can be general, where the banker is a debtor and the customer is a creditor, or it can be special, with the banker taking on additional roles as a trustee, bailee, lessor, agent, custodian, or guarantor.
2. Banks must follow know-your-customer guidelines and apply customer due diligence to comply with anti-money laundering regulations.
3. The main types of bank accounts are current accounts, savings accounts, fixed/term deposits, and recurring deposits, each with different eligibility and features.
Types of the negotiable instruments
This document defines and describes different types of negotiable instruments. It begins by explaining that negotiable instruments are transferable written orders to pay a sum of money. The main types discussed are checks, promissory notes, and bills of exchange. Checks are drawn on a bank and payable on demand, while promissory notes contain an unconditional promise to pay, and bills of exchange contain an order to pay. The document outlines the key parties, features, and legal definitions of each type of instrument. It emphasizes that to be valid, a negotiable instrument must be in writing, signed, state a fixed sum to pay, and be freely transferable.
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Similar to Cheque (be) check (ae) - English for Banking & Finance
cheques.pptx
A cheque is a document that orders the payment of money from one party to another. It contains information about the drawer (issuer), payee (recipient), drawee (financial institution), amount, date, and signature. A cheque circulates through the payment system from the drawer's bank to the payee's bank to fulfill the payment obligation. Regulations determine time limits for cheque processing and validity periods.
unit - 6.pptx
Negotiable instruments are legal documents that can be transferred between parties as a form of payment. Common examples include cheques, promissory notes, and bills of exchange. Cheques allow parties to transfer money from a bank account, while promissory notes and bills of exchange facilitate credit transactions. Negotiable instruments must meet certain legal requirements to be enforceable, such as being in writing, containing an unconditional order of payment, and specifying the amount to be paid. Misusing these instruments by forgery, fraud, or bouncing payments can result in legal penalties like fines and imprisonment according to Nepali law. Proper use of negotiable instruments is important for commercial and financial transactions.
Negotiable instruments act
The Negotiable Instruments Act 1881 evolved over many years through several drafts to address objections from the mercantile community regarding deviations from English law. The Act was originally drafted in 1866 but faced issues being passed. It was redrafted in 1877 and again in 1880 on the recommendation of a new law commission. The fourth draft introduced in 1881 became the Negotiable Instruments Act 1881 that is still in force today. The Act governs negotiable instruments like promissory notes, bills of exchange, and cheques by establishing definitions, rights, and liabilities of parties involved.
Lect 6 Materials Management - Import Purchase
This document provides an overview of international purchasing and import procedures. It discusses key activities like sourcing and procurement. The main steps of an international purchase include sourcing, negotiation, import clearance, purchase orders, payments, shipping, and receiving goods. International purchases are impacted by laws of both countries and changing regulations. Thorough research and planning is required due to various costs and legal liabilities. The regulatory framework in India involves several government ministries and agencies that govern trade policy, banking, duties and tariffs. Common documentation for imports includes bills of lading, commercial invoices, certificates of origin, and insurance policies. Price and transfer terms as well as customs procedures are also outlined.
How import Finance works in daily life and its uses
Letter of credit is a conditional guarantee issued by a bank on behalf of an importer to make payment to an exporter for shipped goods. It minimizes risks in international trade where parties may not know each other. Letters of credit provide protection to importers and exporters and are one of the most common and secure import financing methods. They involve an importer, exporter, issuing bank, advising bank, and sometimes a confirming or negotiating bank, with each party playing a defined role in the transaction process and documentation requirements.
Negotiable instruments
This document defines and explains the key characteristics of negotiable instruments including bills of exchange, promissory notes, and cheques. It states that a negotiable instrument is a device for transferring debt from one person to another and includes any document where ownership can be transferred through simple delivery. The document then outlines the essential elements and parties involved in promissory notes, bills of exchange, and cheques. It provides comparisons of their characteristics and differences between the instruments.
a letter of credit is a payment mechanism whereas a bill of exchange is a pay...
This document defines a bill of exchange, outlines the key parties involved, and describes the essential components. A bill of exchange is a non-interest bearing written order used in foreign trade that binds one party to pay a fixed amount to another at a future date. It must be in writing, signed, contain an unconditional order for a fixed sum, and specify certain parties such as the drawer, drawee, payee, and acceptor. A bill of exchange provides a means for international trade by allowing creditors and debtors to transfer money for goods between countries.
Method of payment
This document discusses various methods of payment used in international trade. It describes five common methods: open account, bills of exchange, cash in advance, letter of credit, and documentary collection.
For open account, payment is due 30-90 days after shipment, providing credit but also risk if the importer does not pay. Bills of exchange involve a draft directing payment, allowing credit while establishing debt evidence. Cash in advance requires full payment before shipment, eliminating risk for exporters but being unattractive to importers. Letter of credit and documentary collection both involve banks and documents to facilitate trade while mitigating risks for both parties.
Principles and Practices of Banking module 2
Banker-Customer Relationship
Debtor-Creditor relationship
Banks as a trustee
Anti-money laundering
Deposit products or services
Payment and collection of cheques and other negotiable instruments
Books referred - Dr.Nirmala Prasad, K. Chandrasass j (Banking and financial system)& Mithani, Gordan (Banking and financial systems)
Lc
A letter of credit is used to facilitate international trade between a buyer and seller who may not know or trust each other. The buyer's bank issues a letter of credit to the seller's bank, authorizing payment for goods that meet the terms outlined in the letter. These terms describe the goods, documents required, shipment details, and payment. Once the seller provides the documents proving the goods were shipped as agreed, their bank pays them and sends the documents to the issuing bank, which reimburses the payment and releases the goods to the buyer upon receiving the documents. The letter of credit thus guarantees the seller payment if the goods are provided as specified.
Negotiable instruments act 1881
The document discusses negotiable instruments under Indian law, specifically focusing on promissory notes. It defines a promissory note according to the Negotiable Instruments Act and outlines its essential features, such as containing an unconditional promise to pay a certain sum of money. It discusses key parties to a promissory note like the maker and payee. It also provides examples from case law rulings related to determining what constitutes a promissory note under the Act.
Bill and cheque
The document provides information on negotiable instruments under Indian law, specifically comparing bills of exchange and cheques. It defines bills of exchange and cheques, outlines the key parties involved for each (drawer, drawee, payee), and describes some of the distinguishing characteristics between the two types of negotiable instruments such as bills of exchange can be drawn on anyone while cheques must be drawn on a specified banker, and cheques are always payable on demand.
Import procedure and finance
The document discusses various import procedures and financing methods. It begins by outlining the key steps in the import process: 1) obtaining licenses, 2) placing orders and sending indents, 3) obtaining foreign exchange, 4) arranging payment, and 5) paying customs duties. It then examines various payment methods including letters of credit, documentary collections, cash-in-advance, and open accounts. It also discusses bills of lading and the roles of various parties in a letter of credit transaction.
How to open letter of credit
The document outlines the 10 step process for opening a letter of credit. It begins with the importer selecting a legal product and supplier. They then negotiate an agreement and apply to an issuing bank, providing documents like a contract and purchase order. If approved, the bank issues the letter of credit to an advising bank. The supplier then ships goods if the terms are met and presents documents to receive payment from the issuing bank once verified. The letter of credit must contain essential details like amounts, dates, parties and transport terms to legally facilitate international trade payments.
International business unit2
The document discusses various methods of international bank payments including SWIFT payments, letters of credit, bank drafts, and open accounts. It also covers topics like nostro/vostro accounts, foreign exchange, international payment requirements and the benefits of electronic payments. SWIFT provides a secure platform for banks to exchange payment messages and settle accounts between correspondent banks globally. Letters of credit involve an issuing bank, advising bank, beneficiary, and sometimes a confirming bank to facilitate international trade transactions.
Cash Handling Procedures & Characteristics of a Cheque.pptx
This document provides information about cash handling policies and procedures. It outlines how to properly handle, count, and safeguard cash. It discusses recognizing currency, processing payments, balancing cash draws, and following policies for deposits, discrepancies, and protecting against theft or fraud. The document also covers cheque characteristics, types of cheques like personal, certified, and traveler's cheques. It describes common cheque fraud techniques like creating fake cheques, altering details, using disappearing ink, or stealing signed cheques.
Negotiable instrument act,1881
The document summarizes the Negotiable Instruments Act of 1881 in India. It discusses the history of the Act, which was originally drafted in 1886 and introduced in 1867, undergoing several revisions. It describes the main types of negotiable instruments covered by the Act: promissory notes, bills of exchange, and cheques. For each type, it outlines the key definitions, parties involved, and requirements. It also covers features of negotiable instruments like transferability and presumptions made. Finally, it discusses Section 138 related to dishonor of cheques and the rights and remedies available in such cases.
Negotiable instruments
The document discusses various types of negotiable instruments such as promissory notes, bills of exchange, and cheques. It defines each instrument, describes the parties involved, and outlines their key characteristics and differences. Negotiable instruments are signed documents that promise payment of a specified amount on a future date or on demand.
Letter of Credit
Letter of credit is a payment mechanism used in international trade to provide payment assurance for exporters. There are typically 6 parties involved - the importer/applicant, issuing bank, exporter/beneficiary, advising bank, negotiating bank, and confirming bank. The key steps are: 1) Importer applies to issuing bank for a letter of credit in favor of exporter. 2) Issuing bank opens the letter of credit. 3) Advising bank forwards the letter of credit to the exporter. 4) Exporter ships goods and submits documents to negotiating bank. 5) Negotiating bank pays exporter if documents comply with terms. 6) Documents are sent to issuing bank for reimbursement.
Payment methods
This document discusses various payment methods including cheques, credit cards, debit cards, and cash cards. It describes the key characteristics of cheques such as being drawn on a banker, payable on demand, and containing a certain money amount. It also discusses crossed and open cheques, components of a bill of exchange, protections provided to paying and collecting bankers, negotiation of cheques, dishonor of cheques due to insufficient funds, and the different types of cards including their distinguishing features.
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How import Finance works in daily life and its uses
How import Finance works in daily life and its uses
a letter of credit is a payment mechanism whereas a bill of exchange is a pay...
a letter of credit is a payment mechanism whereas a bill of exchange is a pay...
Cash Handling Procedures & Characteristics of a Cheque.pptx
Cash Handling Procedures & Characteristics of a Cheque.pptx
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Intorduction to Management
This document is an excerpt from a textbook chapter on management that discusses:
- The learning objectives of understanding management in the context of organizations and the role of working with people.
- That management involves assembling resources to accomplish organizational goals.
- Tactical and operational controls that managers use including financial controls, budgets, supervision structure, and human resource controls.
- The core competency approach where core competencies provide market access, value creation, and differentiation from competitors.
Intorduction to management
This document is an excerpt from a textbook chapter on management that discusses:
- The learning objectives of understanding management in the context of organizations and the role of working with people.
- That management involves working with paradoxes and committing to excellence while recognizing different managerial jobs.
- Tactical and operational controls that managers use including financial controls, budgets, supervision structure, and human resource controls.
- The value chain approach and core competencies that allow companies to access new markets, create value, and differentiate from competitors.
Wal Mart
Walmart began in 1962 as a small discount retailer in Arkansas, founded by Sam Walton. It grew rapidly through the decades, opening its first Sam's Club in 1983 and Supercenter in 1988. By 1990 it had become the largest retailer in the US. Walmart pursued a strategy of operating in small towns and rural areas, keeping costs low and passing the savings on to customers. It emphasized motivating employees and using technology to efficiently manage its supply chain. Walmart continues expanding its global presence while focusing on low prices and social responsibility.
The Manager's Role
A manager is responsible for leading and overseeing parts of a business organization. They set objectives and strategies to achieve them, organize staff and workflows, motivate employees and communicate effectively, measure performance against objectives, and help develop people's skills. Key qualities of a successful manager include leadership, vision, delegation, being approachable, acknowledging mistakes, and treating all staff equally.
Plastic money
Plastic money refers to various types of plastic bank cards like ATM cards, credit cards, debit cards, and smart cards. There are four main advantages to using plastic money: 1) it guarantees payments like checks, 2) it allows withdrawing cash from ATMs, 3) it enables electronic funds transfer payments at point of sale, and 4) it allows buying goods on credit. Smart cards contain microchips with user information. Plastic money allows payments at stores through credit card transactions that are processed through a clearing system between retailers, credit card companies, and customers.
The field of accounting
Accounting involves recording, storing, processing, and communicating financial information to help with economic decision making. There are two main types: financial accounting for internal and external users, and managerial accounting for internal users. Accounting provides job security as positions are not heavily impacted by business cycles or seasonal changes. Completing an accounting degree opens opportunities to work for private companies, governments, or start one's own practice.
Financial statements english for accounting
This document provides information about business transactions and financial statements. It discusses the different types of assets including current assets, fixed assets, tangible assets, and intangible assets. It also discusses the different types of accounting periods including calendar year and fiscal year. The document then provides examples of different types of businesses including service companies, merchandising companies, and manufacturing companies. It outlines the three principles of accounting and discusses the key financial statements including the income statement, statement of owner's equity, and balance sheet. The document concludes by providing an example of each financial statement for a sample business called Shannon Realty.
Marketing management
The document is a chapter from a marketing textbook that discusses key concepts in defining 21st century marketing. It covers topics like the challenges of the new digital economy, the tasks of marketing, major marketing concepts and tools, and different company orientations toward customers. The objectives are to understand the new economy, marketing tasks and roles, core concepts/models, and how companies are adapting to changes.
The role of marketing
The document provides an overview of marketing concepts and strategic planning. It discusses key marketing definitions including the functions of marketing and marketing concepts. It also outlines the steps in strategic planning including analyzing a company's product portfolio to understand conditions like question marks, stars, cash cows, and dogs. The presentation aims to educate on fundamental marketing and strategic planning principles.
An introduction to integrated marketing communications
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.Detailed power point presentation on compound interest and how it is calculated
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University of North Carolina at Charlotte degree offer diploma Transcript
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
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Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
原件一模一样【微信：bwp0011】《(RWTH毕业证书)德国亚琛工业大学毕业证》【微信：bwp0011】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问微bwp0011
【主营项目】
一.毕业证【微bwp0011】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【微bwp0011】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
TechnoXander Confirmation of Payee Product Pack 1.pdf
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
South Dakota State University degree offer diploma Transcript
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
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一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
原版一模一样【微信：741003700 】【(cwu毕业证书)美国中央华盛顿大学毕业证成绩单】【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】外观非常简单，由纸质材料制成，上面印有校徽、校名、毕业生姓名、专业等信息。
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】格式相对统一，各专业都有相应的模板。通常包括以下部分：
校徽：象征着学校的荣誉和传承。
校名:学校英文全称
授予学位：本部分将注明获得的具体学位名称。
毕业生姓名：这是最重要的信息之一，标志着该证书是由特定人员获得的。
颁发日期：这是毕业正式生效的时间，也代表着毕业生学业的结束。
其他信息：根据不同的专业和学位，可能会有一些特定的信息或章节。
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】价值很高，需要妥善保管。一般来说，应放置在安全、干燥、防潮的地方，避免长时间暴露在阳光下。如需使用，最好使用复印件而不是原件，以免丢失。
综上所述，办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】是证明身份和学历的高价值文件。外观简单庄重，格式统一，包括重要的个人信息和发布日期。对持有人来说，妥善保管是非常重要的。
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
原版定制【微信:bwp0011】《(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy Visa
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
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4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
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8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...Falcon Invoice Discounting
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.The Rise and Fall of Ponzi Schemes in America.pptx
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
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