金融英语14-17.ppt

17.1 Life Insurance life insurance is income protection in the event of your death．The person you name as your beneficiary will receive proceeds from an insurance company to offset the income lost as a result of your death． Chapter 17 Life Insurance and Marine Insurance Financial EnglishTopic FiveInternational Settlement and Insurance Chapter 14 Instruments Used in International Settlement 【Learning Objectives】 After learning this chapter, you should be able to understand the following: ?Definition of a bill ?Origin of bills of exchange ?The promissory note ?Cheque Chapter 14 Instruments Used in International Settlement 14.1 Bills of Exchange ? Definition of a bill of exchange A bill of exchange is an unconditional order in writing，addressed by one person to another，signed by the person giving it ，requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person or to bearer. 汇票是由一人开至另一人的书面无条件命令，由发出命令的人签名，要求接受命令的人立即、或在固定时间、或在一个可以确定的将来时间，把一定金额的货币支付给一个特定的人，或是他的指定人，或者来人。 Chapter 14 Instruments Used in International Settlement ?Origin of bills of exchange The bill of exchange has been used as a method of payment in Britain for six centuries or more. Internationally the Bill on London has always been regarded as a sound means of payment ?Definition of a bill Firstly, a bill must be unconditional. The bill must be in writing. A bill of exchange must be signed by the drawer Chapter 14 Instruments Used in International Settlement ?Usance Bill If it is payable in the future it is a usance or term bill． For example，a 90-day bill dated 17th July would be payable on 15tb October calculated on the following basis： 14 days left in July 31 days in August 30 days in September 15 days in 0ctober =90 A bill may be made payable to, or to the order of, a specified person or to the