Unit nineteen Trade finance
Text
Next morning after having breakfast at the self-sevice bar of the hotel restaurant the participants went to the conference room to have a lecture on Trade Finance.
There was a folder on the big round table for each participant with the material relating to the lecture.
Here is one of the sheets of the file:
Trade finance
Trade needs finance
This must come from either the trader or from a lending institution.
If the trade is international then the amount of finance is noimally greater
In general, trade is handled on credit
The buyer pays for the goods at a specified time after receipt
If the trade is international then delivery time adds to the delay in payment
This adds to the need for finance
Also in international trade the buyer uses one currency, the seller another
This requires an organisation with facilities for changing currencies
On both counts the Bank is the best source of finance
Thus this page gave the most important hints on the subject.
And Mr. Hill, the lecturer, explained and developed each statement. The participants sometimes interrupted him and asked questions. Sometimes Mr. Lvov came to help when there was a problem of speaking or understanding.
The lecturer devoted some part of the lecture to financing small business companies who usually enjoy better terms, reduced taxes and other facilities especially during the first years oftheir work.
Words and expressions
nineteen
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девятнадцать (числ.)
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finance
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финансы
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to finance
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финансировать
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next
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следующий
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next morning
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на следующее утро
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next evening
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вечером следующего дня
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next week
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на следующей неделе
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next lesson
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на следующем уроке
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breakfast
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['brekfst]
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завтрак
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to have breakfast
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завтракать
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folder
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папка, скоросшиватель
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on
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на
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round
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круглый
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table
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стол
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on the table
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на столе
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file
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папка, досье
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to need something
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нуждаться в чем-либо
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the need for something
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потребность в чем-либо
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to come from
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приезжать из
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(came — come)
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either ... or ...
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['а...']
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или или
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trader
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зд. продавец
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to lend (lent — lent)
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предоставлять кредит
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institution
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организация
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lending institution
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[nst'tjn]
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кредитная организация
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amount
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сумма
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great
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[ret]
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великий, большой
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greater
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еще больший
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Then the amount of finance is greater.
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В этом случае сумма финансирования увеличивается
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in general
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в целом
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to handle
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обращаться с, иметь дело
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с, вести
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credit
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кредит
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on credit
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на условиях кредита, в
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кредит
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to handle trade on credit
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вести торговлю, используя кредит
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buyer
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[ba]
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покупатель
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goods
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товар,товары
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These goods are very good.
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Этот товар очень хороший
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receipt
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[r'st]
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получение
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delivery
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поставка
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delivery time
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срок поставки
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delay
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задержка
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payment
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платеж
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delay in payment
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задержка платежа
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to use
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использовать
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currency
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['krns]
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валюта
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to require
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требовать
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organisation
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организация
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facilities
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[f'sltz]
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средства, возможности,
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льготы
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to change
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менять
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on both counts
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в обоих случаях
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best
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лучший
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source
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[ss]
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источник
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the best source of finance
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наиболее выгодный источник финансирования
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thus
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таким образом
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to give (gave, given)
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давать
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hint
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намек, совет
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the most important hints
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наиболее важные советы
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subject
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предмет, вопрос
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hints on the subject
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советы по данному вопросу
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to explain
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объяснять
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to develop
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развивать (ся)
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statement
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заявление, утверждение; отрицательный отчёт
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to interrupt
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прерывать
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to understand (understood, understood)
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понимать
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to devote
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посвящать
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to devote something to
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посвящать что-либо чему
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something /somebody
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или кому-либо
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better
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лучше
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to reduce
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[r'djs]
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уменьшать (ся)
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tax
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налог
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reduced taxes
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сокращенные, уменьшенные налоги
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Exercises
1. Read the following:
• morning • understanding
during financing
having changing
speaking lending
• next morning, next evening
• after having breakfast
after having lunch
after having dinner
before having dinner
• There was a problem of speaking English.
There was a problem of understanding English.
It was a lecture on financing small business companies.
They enjoyed better terms during the first years of their work.
2. Underline the answers true to the text:
• When did the participants go to the conference room to have the first lecture?
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The next morning.
The next afternoon.
The same day the group came to London.
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• What material was prepared for the participants?
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A video cassette on the topic of the lecture.
Material relating to the lecture.
A video cassette with sights of London.
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• To what topic or subject was the first lecture devoted?
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To banks.
To trade finance.
To management.
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• Who was the lecturer?
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Mr. Hill.
Another Englishmen. An American economist.
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• Why did the participants interrupt the lecturer?
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To ask questions.
To explain some statements to the other participants.
To develop some statements for the other participants.
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• What did Mr. Lvov do during the lecture?
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He didn't speak.
He only read the material in the folder.
He helped the participants to speak English and understand the lecturer.
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• About what aspects of small business did the lecturer speak?
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Only about some better terms during the first years of business.
Only about reduced taxes during the first years of business.
About better terms, reduced taxes and other facilities especially during the first years of business.
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3. Translate into English:
Затем они отправились в конференц-зал.
М-р Хилл читал лекции "Финансирование торговли".
Перед каждым участником была папка с материалами.
Иногда участники прерывали м-ра Хилла и задавали вопросы.
Андрей помогал им, когда у них возникали затруднения с английским языком.
Лектор посвятил часть лекции малому бизнесу.
Он говорил о более выгодных условиях, сниженных налогах и других льготах.
4. Match English and Russian sentences:
Trade needs finance.
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В обоих случаях лучшим источником финансирования являются банки.
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This must come from either the trader or from a lending institution
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Для торговли необходимо финансирование.
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If the trade is international then the amount of finance is normally greater.
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Оно (финансирование) должно исходить от продавца или финансовой организации.
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In general, trade is handled on credit.
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Покупатель оплачивает товар в указанный срок после получения товара.
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The buyer pays for the goods at a specified time after receipt.
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Это увеличивает потребность в финансировании торговли.
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This adds to the need for finance
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Если это внешняя торговля, то сумма финансовых средств обычно увеличивается.
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On both counts the bank is the best source of finance.
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Обычно торговля осуществляется с использованием кредитов.
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5. Insert articles:
Finance must come from either ... trader or from .. lending institution.
If tiade .. is international then ... amount of finance is normally gieatei.
. buyei pays for ... goods at ... specified time after receipt.
If .. trade is international then delivery time adds to ... delay in payment.
Also in international trade ... buyer uses one currency, .. seller another.
6. Insert prepositions:
In general trade is handled ... credit.
Then delivery time adds ... the delay ... payment.
This adds ... the need ... finance.
This requires an organisation ... facilities ... changing cuiiencies. . both counts the bank is the best source ... finance.
7. Translate into English:
папка с материалами Торговля осуществляется с
использованием кредитов.
папка (скоросшиватель) источник финансирования
финансирование торговли в указанное время
продавец после получения
покупатель задержка платежа
в кредит валюта
8. Sum up what Mr. Hill said about:
• trade finance in general
• financing small business companies
9. Agree or disagree:
Small business companies pay reduced taxes in Russia.
10. Role play:
Imagine you are a lecturer. Speak on financing small business companies in Russia
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