The transferable credit is designed to meet the requirements of international trade. It enables a middleman who is receiving payment from a buyer under a documentary credit to transfer his claim under that credit to his own supplier. In this way he can carry out transactions with only a limited outlay of his own funds. A transferable credit may only be transferred once. The second beneficiary may not further transfer it unless there is an express provision to this effect in the original credit.This limit on transfer ability is intended to prevent abuse.

国际货币基金组织旨在向那些在付款方面有困难的基金会员国提供中期贷款。

已装船提单表明货物已实际装上开往目的港的承运船只。

最近几年运输功能引人注目的另一个因素就是越来越多的使用零库存系统。这种系统是以公司保持很少数量的生产投入为基础的。

A contract is an agreement by which two parties mutually promise to buy or sell some products. In practice, some informal contracts may be reached orally.This is understandable, but may lead to unfortunate consequences.A reasonable exporter should at least insist on strict observance of the legal requirements in case of orders that are not routine transactions.When the goods ordered represent a considerable value, a formal contract embodying all terms of the agreement should be prepared in duplicate; each copy should be signed by both parties, and each party should retain a copy of the contract.

尽管中国取得了很大的成就，但仍然面临巨大的挑战。一部分挑战和竞争来自于农业、银行业和保险业，还有一部分来自于一些国家所采取的贸易保护主义措施。

没有可保利益的保险合同是无效的。而任何根据这类合同提出的索赔都不会被受理。

The transferable credit is designed to meet the requirements of international trade. It enables a middleman who is receiving payment from a buyer under a documentary credit to transfer his claim under that credit to his own supplier. In this way he can carry out transactions with only a limited outlay of his own funds. A transferable credit may only be transferred once. The second beneficiary may not further transfer it unless there is an express provision to this effect in the original credit.This limit on transfer ability is intended to prevent abuse.

What is documentary collection? Point out the different types of it.

Explain briefly the following terms: applicant; opening bank; beneficiary; advising bank; confirming bank.

What are the 3 major functions of bill of lading?