Contents 3
Unit One International Trade 3
Unit Two Invisible Trade 14
Unit Three The Balance of Payment 25
Unit Four The Foreign Exchange Market 39
Unit Five Spot Rates 48
Unit Six Forward Exchange 60
Unit Seven The Period of the Gold Exchange Standard 71
Unit Eight The Collapse of the System of Fixed Exchange Rates 84
Unit Nine The Monetary Arrangements since 1973 96
Unit Ten Trade on Open Account 110
Unit Eleven A Cheque 121
Unit Twelve Bills of Exchange 130
Unit Thirteen The Parties to a Bill 141
Unit Fourteen The Use of Bills 151
Unit Fifteen Negotiation and Collection of Bills 161
Unit Sixteen Documentary Credits 173
Unit Seventeen Acceptance Credits 189
Unit Eighteen Bank’s Liabilities and Responsibilities under a Documentary Credit 201
Unit Nineteen Bills of Lading 216
Unit Twenty Insurance Documents 231
Unit Twenty-one The People’s Insurance Company of China Ocean Marine Cargo Clauses 241
Unit Twenty-two The Invoice and Other Documents 261
Unit Twenty-three Uniform Rules for Collections 274
Unit Twenty-four Uniform Customs and Practice for Documentary Credits ICC No400 301
Unit Twenty-five Overdraft and Loan 355
Unit Twenty-Six Instalment Credit and Leasing 368
Unit Twenty-seven Finance Market 380
Unit Twenty-eight The New Issue Market 392