Transportation. Transport document

Company and its constituents.

A company is an association or collection of individuals, whether natural persons, legal persons, or a mixture of both. Company members share a common purpose and unite in order to focus their various talents and organize their collectively available skills or resources to achieve specific, declared goals. Companies take various forms such as:

· Voluntary associations which may include nonprofit organization

· A group of soldiers

· Business entities with an aim of gaining a profit

· Financial entities and banks

A company limited by guarantee. Commonly used where companies are formed for non-commercial purposes, such as clubs or charities. The members guarantee the payment of certain (usually nominal) amounts if the company goes into insolvent liquidation, but otherwise they have no economic rights in relation to the company.
A company limited by shares. The most common form of company used for business ventures. Specifically, a limited company is a " company in which the liability of each shareholder is limited to the amount individually invested" with corporations being "the most common example of a limited company."
A company limited by guarantee with a share capital. A hybrid entity, usually used where the company is
for non-commercial purposes, but the activities of the company are partly funded by investors who expect a return.
A limited-liability company. "A company—statutorily authorized in certain states—that is characterized by limited liability, management by members or managers, and limitations on ownership transfer", i.e.,
An unlimited company with or without a share capital. A hybrid entity, a company where the liability of members or shareholders for the debts (if any) of the company are not limited. In this case doctrine of veil of incorporation does not apply.

Less common types of companies are:

Companies formed by letters patent.
Charter corporations.
Statutory Companies

There are however, many, many sub-categories of types of company that can be formed in various jurisdictions in the world.
Companies are also sometimes distinguished for legal and regulatory purposes between public companies and private companies. Public companies are companies whose shares can be publicly traded, often (although not always) on a regulated stock exchange. Private companies do not have publicly traded shares, and often contain restrictions on transfers of shares. In some jurisdictions, private companies have maximum numbers of shareholders.A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company.

 

Simple commercial letter and its parts

Layout (of the letter)
1. Heading (in the center)
2. Date 5.09.2014
5. September 2014
September 5, 2014
3. Inside address, (to whom it’s writing)
4. Greeting/ Salutation (Dear)
5. Subject (theme of the letter)
6. The body of the letter
7. The ending / complimentary close
8. Signature
9. Senders name
10. Enclosure
11. P.S.

 

Types of business letters

1. Sales letter. It used to introduce new products or services to the customers or clines.
2. Inquiry letter is used to request more information about product or service.
3. Offer letter is used as a reply to inquiry and provide requested information.
4. Order letter is used to place an order for purchase of any goods.
5. Acknowledgement letter is used to acknowledge a fact about taking action or situation that happened.
6. Letter of complaint/ claim. It’s used to complain about wrong actions.
7. Apology letter is used to say sorry for some mistakes.

There can be semi-formal letter:

1) Informational letter

2) Invitational letter

3) Congratulation letter

4) Letter of gratitude

5) Covering letter

4. Banking correspondence
Correspondence with banks is essential for organizations. Banks also are business houses and they have to correspond with clients and customers. Banks whether Private or Public, Local or Foreign, have to face stiff competition from others. Computerized accounts, Automatic Teller Machine, Credit and Debit cards have enlarged the scope of business. Banks which were the monopoly of the rich men, today are attracting common and ordinary people. The whole competition of banking business has undergone a sea-change. Banking correspondence is of a special nature because it deals with finance. Letters have to be carefully written to protect the interest of the bank as well as its clientele. In the first place, it has to be very confidential in nature. The financial status of its clientele can be quite fluctuating owing to extraneous reasons. The interest of the client has to be protected as well as the interest of the bank.

In foreign trade banks play an important part, their services to exporters and importers. Payment can be made in cash and a credit. There are 3 main types of payment: 1.banker’s transfer, 2.bill of exchange, 3.Letter of credit.
1. It’s a simple transfer of money from the bank account of a buyer in his own entry to the bank account of the seller in the seller’s country.
2. It’s an order in written form from a creditor to a byer to pay on demand or on a named date a certain sum of money to a person named on the bill.
3. It starts with the buyer, he instructs his bank to issue the L.C. for the amount of purchase favor of the seller, it’s usually done by special printed ford.

 

Business trip

Employees of different countries usually go on business trips. Any firm chooses only best export for it. Companies can arrange such trips both in and outside the country. There are many reasons of going on business there are to make a contract, to discuss different terms of delivery, payment or shipment, to have tests, to do consultancy, to improve once professional skills, to work etc. Represent - natives of the companies make preliminary arrangements in order to meet. Usually itinerary of the trip is carefully planned by the head of the department or an executive. A business trip can be a long term or a short term one. Often an employee must give a financial report to the chief. As a rule businessman has a chance to go sightseeing or to visit theatres, or just have some rest after the working day. They also try to buy gifts or presents to relatives, friends and colleagues business trips contribute to extension of business relationship of a company and help to succeed in the world market. Business today is international, so business people often have to travel. On a business trip people may meet colleagues and business partners for a first time. It is usual for colleagues from different countries to experience cultural difficulties. In other words, they may be surprised by foreign social conventions that is the different ways that other nationalities or different cultures do things. Management styles are also differed from country to country. In some cases it is useful to get a piece of advice from a special agency, consulting on the questions of international business. Business trip are very important nowadays because face to face contracts are more valuable and useful for the matter, make a call so in order not to spoil business people will go on traveling on business.

Payment. Terms of payment

1) Financial system supporting transfer of funds from suppliers (savers) to the users (borrowers) and from payers to the payees, usually through exchange of debits and credits among financial institutions. It consists of a paper-based mechanism for handling checks and drafts, and a paperless mechanism (such as electronic funds transfer) for handling electronic commerce transactions. Also called payment mechanism.

2) The conditions under which a seller will complete a sale. Typically, these terms specify the period allowed to a buyer to pay off the amount due, and may demand cash in advance, cash on delivery, a deferred payment period of 30 days or more, or other similar provisions.

Transportation. Transport document

1) 1.Any device used to move an item from one location to another. Common forms of transportation include planes, trains, automobiles, and other two-wheel devices such as bikes or motorcycles.

2. The process of shipping or moving an item from point A to point B.

2) Transportation documents are usually attached to commercial invoices as a proof of shipment which also enables the buyers to receive the goods. Transportation documents include bills of lading, air waybills, road carriage bills and others depending on the mode of transportation used.

Since sea and river shipments are considered most economical, they are most often used and bills of lading are thus most popular transportation documents.

Bills of lading usually contain the following details:

- name of consignor

- name of consignee

- name of vessel

- shipping date

- weight

- measurement

- marking

- number of cases

- contents of the cases

Insurance

Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated.

Insurance documents

Insurance Documents are ones, issued by the issuer, certifying that the insurer and the insured have signed an insurance contract covering the goods to be transported. If the goods under the contract do incur damages or even losses in transit, the insured can lodge a claim against the documents.

Since insurance documents are the evidence of insurance contract between the insurer and the insured, they are mainly classified as the following four types:

-Insurance Policy

-Insurance Certificate

-Combined Certificate

-Open Policy

Globalization