Introduction to Romanticism Essay -- essays research papers

For many years, this period and these writers were known as the American Renaissance, a coin terminaled by F.O. Matthiessen in his book of that name in 1941. This book set the parameters of how to read and connect these writers until relatively recently, when its limitations, especially in terms of defining the "canon" of literary giants and what made them (all male) "giants" support been recognized and challenged. However, the term is still useful to some degree. It is a misnomer, if one thinks of the period as a time of rebirth of some earlier literary greatness, as the European Renaissance, because thither was nonhing to be "reborn." The great writers of this period, roughly 1840-1865 although more particularly 1850-1855, marked the first maturing of American letters. It was a Renaissance in the sense of a flowering, excitement over human possibilities, and a high regard for individual ego. It was definitely and crimson defiantly American, as these wri ters struggled to understand what "American" could possibly mean, especially in terms of a literature which was distinctively American and not British. Their inability to resolve this struggle--and it was even more a personal one than a nationalistic one, for it questioned their identity and place in society--did much to fire them imaginatively. However, we will call this American romanticism, though it shares many characteristics with British romanticism. It flourished in the glow of Wordsworths poetical encounter with nature and himself in The Prelude, Coleridges literary theories about the reconciliation of opposites, the romantic posturings and irony of Byron, the lush imagery of Keats, and the transcendental lyricism of Shelley, even the Gothicism of Mary Shelley and the Bronte sisters. evolution from the rhetoric of salvation, guilt, and providential visions of Puritanism, the wilderness reaches of this continent, and the fiery rhetoric of freedom and equality, thou gh, the American brand of romanticism developed its own character, especially as these writers tried self-consciously to be new and original. The glory years were 1850-1855. What was it in American culture and British influences that led to the incredible flowering of masterpieces in this era Emersons Representative Men, Hawthornes The reddened Letter, The House of Seven Gables, Melvilles Moby-Dick and Pierre,... ...arative contact, but they are useful and important ones. Perhaps we will risk some confusion here and certainly we will have to neglect some biographical context as we "mix and match" writers. But we will be able to focus on those ideas which united (and even divided) them that makes us able to call them all "romantics." After we have read a work, we will "revive" it in discussions of later topics, taking the different perspective, for there must a certain arbitrariness in "assigning" a work to only one theme. Great and complex works mus t not be limited like that So rather than progressing through time and historical/biographical contexts, we will keep circling recursively (as Emerson says we must), seeing how the different works and writers seek the major aspects of romantic thought and art. Our base is necessarily Emerson, the literary giant of his time in America, for better or worse. Though his writing is often herculean to read, it was, in fact, the match that lit all of the creative fires of his time. He put his pen on all of the sensitive spots in the American creative psyche Whitman was not the only one to "boil."

How Does a Writer Engage a Reader? :: Teaching Writing

How Does a Writer Engage a Reader?Its still snowing. The wind is so strong it is hard to stay upright. Im lost in a blizzard. Ahead of me, I see a faint glow. Is it a lamp in my house? I tell myself, Keep moving toward the light. Left, right, left, right, up, down, I accompaniment walking. Im so cold. I press on, but the light remains just out of range. Left, right, left, right, up, down. The light grows brighter. Now it dims. I suddenly realize that Im walking in circles.Where do I go with this paper? How do I get beyond the theme? Why is this assignment so difficult for me to grasp? intellectually I understand the assignment, at least the right side of my brain does. The left side of my brain seems to be disengaged. Every time I touch like Ive nearly got it,it vanishes, eluding me once more.I never realized how difficult it was to break the writing habits learned throughout life. Themewriting may not be good writing, but I fear it is the only kind of writing Ive ever done. I beli eve that theme writing may still deem value and that themewriting is undesirable because it fails to engage the reader and to communicate anything of substance.How does a writer communicate and engage a reader? Is it by using a dissever of enlarge? The author of The Innocent Nihilist used a lot of details. Those details didnt help me understand it any better. I still am intricate about what he was trying to communicate to me. Did Lee really dislike his dog? Was he happy when the dog was killed? Or, was Lee just happy that he wasnt the one hit by the car. The author caught my attention initially by his use of dialogue, much as Mikes attention was held by Lees story. A lot of details were present, but they didnt help me any with this story. Another paper, Martin Luther King, also used details. It told me where Martin Luther King was educated and what some of his religious convictions were, but it failed to reveal the whole man. It didnt develop his showcase or reveal his passions . The paper had some details, but it fell short of my expectations.Its still snowing. Its been snowing since noon. The wind is howling it must be at least 30 m.p.h.

Advanced Technology and the Society :: essays research papers

Advanced Technology and the Society Have advances in engine room helped to stimulate a lazy, detached society? The truth is it has. It becomes more and more advanced that the inventors do not even know what to do. They run out of ideas and they make a new one and then ten more come out of just that one idea. Advances in technology befool helped to create a lazy, detached society because, people say why do this if we have it all in our hands, everything is already there. People think it is cool to have all the gadgets that are new and advanced and easier to do things with, but it is actually making the society more lazy. For example, the society now has e-mail and instant messengers to commun- icate with, they do not want to write letters anymore, that shows that the society has become lazier. Since the society has this to help them communicate they send an e-card through e-mail rather than making a letter of their own. Also instead of driving down to a little family get together, the instant messenger gets in the way because it seems easier to communi- cate with. Another example, is that now a days the society has telephones, cellphones and even camera phones to help everyone communicate.When someone invites another person to a birthday party the person that gets invited makes up an excuse expression they can not go so they just call and say Happy Birthday. Also when someone wants to meet someone else they just text messages or call each other instead of going for a walk. These are some examples that really reveal how lazy and detached the society has became as technology advances.

Is the Operation of Auditing Necessary? Essay examples -- Business Eth

IS THE OPERATION OF AUDITS NECESSARY?We need to understand that canvas is about achieving customer satisfaction in order to gain recite business and overall increase company revenue.What is business ethics? The ethics of a particular business can be diverse. Business ethics is the mien that a business devotes to in its daily dealings with the world. Auditing is the analysis and inspection of the financial accounts/records whether or not a company has a qualified accountant and procedures of a firm or organization. This is necessary to gain a fair information on the companys financial statements. With its auditing, potential investors and creditors can discover at the financial statements to decide whether to invest in a business or not. Moreover, auditing is important as it also protects the public from scams and corrupt business procedures. So, is an audit process required? Yes, I believe it is an essential part for every businesss ethics, which is literally in order to do the right liaison and guide how they should behave regarded as moral values. Many businesses have gotten a bad reputation by behaving unethically in order to survive in this competitive age. Some people may argue that most businesses are just interested in making money, which could be viewed as capitalism. It is not wrongly to earn money in itself. This is the reason and the manner all companies exist. And, some companies actually are not aware of the importance of its auditing. They just think that its a waste of money and time. This aspect is the major drawback in these companies as customer doesnt depend on these companies for long and their business is affected in long terms. They need to understand that an audit is about achieving customer sat... ...ing-reference/internal-auditingKana Inagaki, Japan Prosecutors Charge Olympus, Executives. Wall Street Journal, March 7, 2012Paine, L. S. 1994, Managing for Organizational Integrity. Harvard Business Review (March-April), 106117.W. D unfee and Patricia Werhane., advertise on Business Ethics Thomas in North America What Is The Importance Of Audit, And Its Advantages & Disadvantages?, http//www.blurtit.com/q678572.htmlSingh, Preeti. Auditing Scam in Jagan Reddys Firm, Nov.-Dec. 2011. vane. 01 Apr. 2012. .(16). Time (2002) The End of Arthur Andersen? Retrieved April 19, 2003 from the World Wide Webhttp//www.time.com/time/business/article/0,8599,216386,00.htmlThe Sarbanes-Oxley Act 2002. The Sarbanes-Oxley Act 2002. Web. 01 Apr. 2012. .

Psychoanalytic Approach to Corona :: Corona Essays

Psychoanalytic Approach to corona The psychoanalytic approach applied to Corona fuel determine the state of minds of the temperaments Buddy, leeward, and Big Foot. At the end of the story, Buddys A-one egotism represses his id, thus proving that although his artless mind has always relied on his id, his super ego turns his character into a hero. Lee depends on her id and super ego passim the story. Finally her ego balances out the other two. Big Foots character does not change. His super ego is in charge of his life. Big Foot bequeath never be able to see reality or pleasure because of his over-used super ego. What first catches our pump is the title of the story. Corona could mean, The suns outer atmosphere that is visible during entireness eclipses of the sun., or the nations first photo reconnaissance satellite system, operating from 1960-1972.. Either description will fit the story considering the way the meter, Corona makes everyone feel. When Buddy loses his eyesig ht, the song Corona is his light that helps him escape from the pain. The song is also an escape for Lee, whose body and mind inevitably sunlight to relax and feel like a expression nine year old. In the first paragraph, the three mental processes mold a utter(a) outline to what we should expect throughout the story. The id tells us that Buddys mother is an alcoholic drinkic. She drinks in self pity because Buddys father leftover before Buddy was born. Her alcohol does for her as Corona does for Buddy. Id is also the reason Buddy attempts to steal a helicopter with a girl named Delores-Jo. Buddys ego lied about his age when caught and is why he must go to prison or else of reform school. His superego helps him to repress those feelings left by penitentiary life by deciding to move to New York to start over, instead of dealing with his problems, including a child on the way by a waitress. Buddy and Lee come from different backgrounds, but their life struggles bring them toget her. Buddy, comes from cut back class. He has grown up in an single parent, alcohol abusive home. He has gone to prison and is now a blue collar worker. Lee has suffered from her parents recently divorcing. Her telepathy has brought her misery instead of insight. Buddy is simple minded and Lee is very intelligent.Psychoanalytic Approach to Corona Corona EssaysPsychoanalytic Approach to Corona The psychoanalytic approach applied to Corona can determine the state of minds of the characters Buddy, Lee, and Big Foot. At the end of the story, Buddys super ego represses his id, thus proving that although his simple mind has always relied on his id, his super ego turns his character into a hero. Lee depends on her id and super ego throughout the story. Finally her ego balances out the other two. Big Foots character does not change. His super ego is in charge of his life. Big Foot will never be able to see reality or pleasure because of his over-used super ego. What first catches our eye is the title of the story. Corona could mean, The suns outer atmosphere that is visible during total eclipses of the sun., or the nations first photo reconnaissance satellite system, operating from 1960-1972.. Either description will fit the story considering the way the song, Corona makes everyone feel. When Buddy loses his eyesight, the song Corona is his light that helps him escape from the pain. The song is also an escape for Lee, whose body and mind needs sunlight to relax and feel like a normal nine year old. In the first paragraph, the three mental processes mold a perfect outline to what we should expect throughout the story. The id tells us that Buddys mother is an alcoholic. She drinks in self pity because Buddys father left before Buddy was born. Her alcohol does for her as Corona does for Buddy. Id is also the reason Buddy attempts to steal a helicopter with a girl named Delores-Jo. Buddys ego lied about his age when caught and is why he must go to prison instead of reform school. His superego helps him to repress those feelings left by penitentiary life by deciding to move to New York to start over, instead of dealing with his problems, including a child on the way by a waitress. Buddy and Lee come from different backgrounds, but their life struggles bring them together. Buddy, comes from lower class. He has grown up in an single parent, alcohol abusive home. He has gone to prison and is now a blue collar worker. Lee has suffered from her parents recently divorcing. Her telepathy has brought her misery instead of insight. Buddy is simple minded and Lee is very intelligent.

Battle Between Good and Evil in Dr. Faustus :: Doctor Faustus Essays

Battle Between Good and Evil in Dr. Faustus          The story Dr. Faustus represents the constant battle mingled with good and evil. Every day, we are faced having to choose between the two, even if there seems like there is no solution. Faust, in the story Dr. Faustus, represents those that choose to bend to a lower level in order to get what they want. The good angel and the bad angel are the morals that pull the Fausts soul apart, forcing him to deal a decision that can effect his future. The story Dr. Faustus is a great moral of how one wrong decision can cause an everlasting burn.   In the story Dr. Faustus, there is a battle of good versus evil going on. Faust is a man who is desperate for mogul and ascendance. He wants to do anything he wants to do, and control anything he wants to control. That is where Mephistophales, a blood-sucking devil appears, preying on Foust and his confusing soul. Mephistophales was in heaven, and was kicke d out. His soul is burning, and so he is desperate to take Fousts soul with him. Misery does love company. Faust wants power when he states I charge thee wait upon me whilstg I live. To do whatever Faustus shall command.(Act 1, scene 2,lines 33-34). While Faustus demands his power, Mephistophales is miserable in hell. He wants Fausts soul, and the two work on a trade. Meanwhile, the good angel appears. The good angel is trying to convince Faust to drop this insanity, because the bible is what he should be reading, rather than the magic book. When it seems like the angels deport gotten to Faust, the devils appear. It is an insult to the bad angels to hear Christs name in their presence. While the good angels are telling him to repent, the bad angels are giving him a taste of stark(a) hell. (p48) They bring out the seven deadly sins. (48) Lucifer, in the meantime, worked his magic, and Faust signs the dotted line. It is over. The seven deadly sins represent the agony of hell. Faust now became the eighth. He now became just as evil and manipulative as Mephistophales. He now was forever damned.   Temptation is societys worst enemy. When challenges arise, everyone wants answers, even if that means taking the wrong route. A great example of Faust in our society is robbery.

Personality Determinants Essay

Heredity refers to those factors that were determined at conception. Physical grammatical construction, facial attractiveness, gender, temperament, muscle composition and reflexes, energy level, and biological rhythms are characteristics that are generally considered to be either completely or substantially influenced by who your parents were, that is by their biological, physiological and inherent psychological makeup.The environmental factors that exert pressures on our constitution formation are the culture in which we are raised, our early conditioning, the norms among our family, friends and social groups, and other influences that we experience. The environment to which we are exposed plays a substantial single-valued function in shaping our personalitiesA third factor, the situation, influences the effects of heredity and environment on personality. An individuals personality although generally stable and consistent, does change in different situations. The varying demand of different situation calls forth different aspects of ones personality. We should not therefore look upon personality patterns in isolation. unconscious Programming Most of us sometimes get programmed / conditioned by a wrong messages that do not do that, dont get rid of the risk, you lotnot do that you are not good in and so on.. You toilette imagine the bad effect such message can have on any person. Our Conscious Mind is like a watch man. And the Subconscious Mind is a workshop of all the previously programmed or conditioned discipline / knowledge/ believes. Now programming personality means putting trainling believes/ information into the store without the knowledge of the watchman (conscious principal). Suppose you secern yourself that you are good at Public Speaking.And the store has stored based on peoples comments and experience that you are poor in communication you cannot speak substantially in public, you dont have an impressive body language .. The watch man sees your sentence and compares it with the knowledge in its store and says this information is wrong. The watchman throws the new information away. He does not allow the new verifying information into the store. This is the fundamental difficulty in changing personality & behavior of a person.Now the question is how and when we could program our mind for positive personality trait without the obstruction of watchman The answer is we can program our mind for positive personality traits during the Twilight period just before sleeping and just before waking up. This is the time when the conscious mind is active replete to generate the positive traits for entering into store but inactive to judge/compare and will not obstruct to the positive traits to enter into the subconscious store provide.Reinforced Programming / Conscious Programming Autosuggestion and Repetition of the positive traits despite negative response from comparison with the store house also gives winner in programm ing for personality traits. Auto-suggestion is a statement made in the present tense, of the kind of person you want to be. Auto-suggestion are like a technical about Super You, or Future Super You for yourself what you want to be or achieve. They influence both your conscious and subconscious mind in the capacious run shaping your personality and attitude. Auto-suggestions are the conscious way to programme the subconscious mind for positive traits. It is the effective method of voluntary development of positive traits and attitudes.Auto-suggestion should be mixed with emotions. All such reinforced / conscious programming which have been emotionalized (giving feeling) and mixed with applied faith, begin immediately to translate themselves into physical or real equivalent. Auto-suggestive thoughts which are mixed with any of the feeling of emotions constitute a psycho-magnetic force which attracts other similar or related thoughts.Our subconscious mind resembling a fertile garden spot, in which weeds will grow in abundance if you the seeds of more desirable crops are not sown therein. Auto-suggestion is the agency of control through which an individual can voluntarily feed his subconscious mind on thoughts of creative/ positive nature or by neglect have thoughts of a destructive nature to find their way into the rich garden of mind. So Caution should be taken while programming your mind for positive traits only.Defensive Approach One of this type of approach is protest or deny the negative traits at its very beginning of the entering in the subconscious store. And the second is to consciously avoid this type of environment or situation. In real life situation it is very difficult because it may course to confrontation and argument or Inaction. Another problem in this is that most of us have some negative traits previously in our store house due to our past experience and conditioning.Imaginary Anchoring or Invisible Counseling Committee While watching a pi cture we anchor the Hero, placing ourselves in base of hero. Similarly we can anchor Great men in imagination and let them shape our personality.Another is the Invisible Counseling Committee comprising of great personalities of your choice. We can counsel from these great minds at times or situation. What decision or action he would have been taken in my situation.. Winston Churchill the war time British Prime Minister was following this principle. He had his Imaginary Counseling Committee by the side of his Chamber. Many great decisions he used to take by following these principles.Physical Action / Body Language Approach In general it is the positive practice or experiencing desired traits whether the desired perfection achieved or not. It is generally said that our personality traits control our body language. But it is a fact that the reverse is also true. This meanswe can change our negative traits towards positive traits by consciously practicing the body language for positiv e traits.Domino-effect. Direct exposure to good personalities or environment Here the direct environment is the driving force in shaping the personalities. When one constantly remains in direct contact with great personalities will enriches his own to be the one. Similarly the organization culture and structure also many times influences ones personality. Sometimes it is the guiding principle for job satisfaction / recruitment.

Legal Abortion

The topic of miscarriage is one of the most controversial of our clock. It has caused count little deaths and several violent confrontations between the two separate parties of opinion. The charge up between pro-life and pro-choice supporters has been long and brutal. This is because, despite what several heap may cerebrate, abortion is neither right nor wrong. It is a matter of personal opinion. In this way, each side can say with certainty that the opposite is wrong. However, the question still remains should abortion be legal?Though some may disagree on this point, the fact is that legalized abortion is the only option that will protect the lives of American citizens. thitherfore, present abortion laws according to Roe v. Wade should be upheld and maintained in the United States (Brown 2). Roe v. Wade was a landmark decision that legalized abortions in the United States. It was about a poor, pregnant woman who filed a lawsuit against the state law of Texas, which stated tha t abortions were illegal. The case went all the way to the U. S. unconditional Court, which meant that the decision made affected the nation as a whole.On January 22, 1973, the Supreme Court ruled in favor of Jane Roe and stated that the 14th amendment guarantees an adult woman the right to seek a termination of her maternalism until viability (Guernsey 63). From this sidereal day on, abortions in the United States were legal. The definitions of the opinions taken on abortion atomic number 18 somewhat unclear to many people. Hopefully, the definitions stated below will be of some attend to in choosing an opinion. Pro-life supporters gestate that a fetuss right to live comes first, before the rights of a pregnant woman.Pro-choice supporters believe that it is a womans fundamental human right to judge when and whether or not to keep back the boor (Lowenstein19). Nevertheless, while the pro-choice side fights the right to have an abortion, they yield a distinction between pro -choice and pro-abortion, These groups destiny women to be able to choose an abortion if it is right for them. However, they do not necessarily believe abortion is the solution for everyone (Lowenstein 52). There are many reasons why abortion should be legal. The single most important effect of legalization has been the substitution of base hit, legal procedures for abortions that formerly were obtained illegally ( Jaffe, Lindheim, and Lee 147). One only needs to look into American history to see the results of prohibiting abortions to women. The violence which occurs today because of the pro-choice/pro-life conflicts is minimal in comparison to the thousands of hopeless women who turned to illegal abortions. Women, see no other solution to their problems, turned to back room clinics. These clinics were located in poverty-ridden sections of the city and their conditions were deplorable.The places themselves were layered in filth and disease. In get downd merelychers using squa lid and crude equipment treated the women. As if these backroom clinics were not bad enough, there was an eventide more appalling decision a woman might face. If she were unable to behave the exorbitant price for the illegal surgery, she would often perform the act herself. Knitting needles, coat hangers, antiseptic douches, and poisons were used most often (Welton123). It is better now that women have a place to go where abortions can be performed cleanly with minimal risk.Legalization of abortion is the only choice no matter what side on takes in the debate. Women will try to do what they think is necessary to live as they wish, no matter what the risk. Each year 84,000 women die worldwide from failed abortion attempts (Lunneborg67) . Because of anti-abortion legislation, women lift going to the hospital, often until it is too late, to avoid prosecution from police. In the cases of go against and incest, the very idea of being forced to have the child of the womans abuser is r epulsive. There are also cases when a womans health is put in jeopardy by having a child at all.Forcing a woman to bring the child to term would be no less than attempted murder (Steffen 49). If a woman is forced to give birth to a child she does not want, if go away in that womans custody, the child could potentially face hatred and resentment from the mother for the rest of its life. In countries all over the world, children are found dead and toss in places as degrading as garbage dumps. The only effective method of preventing unwanted births is abstinence, and this is just not a realistic objective. There is no 100% effective form of birth control, and even men and women using birth control have unwanted pregnancies.Some women for financial, occupational, social, and maturity reasons, see pregnancy as cessation of their lives. There are no accurate statistics on how many women attempt or succeed in committing suicide each year quite than live with their pregnancies. Women wil l continue to gave abortions with or without government legislation, but with legislation, the conditions under which they have their abortions can be sanctioned and observed. If abortion is the right choice for a woman, she shouldnt have to worry about its safety. The procedure is perfectly safe. The earlier an abortion is done, the safer it is.Most abortions, about 95%, are done during the first trimester (Lowenstein 52). Less than one per centum are done after the twentieth week, and usually only for medical reasons (Safety 1). According to the National Abortion Federation, having an abortion in the first three months of pregnancy is safer than giving birth to a child. Women hardly ever die from legal abortions-only one in two hundred thousand (Lowenstein 52). Women are seven times likely to die from childbirth than from a legal abortion (Maguire 1). Many pro-life supporters believe that abortion should be banned because life begins at creative activity and taking a life is unl awful.The individual sex cell consists of 23 chromosomes. It is only through combination, through merger, that the sex cells attain the full complement of genetic endowment units that defines a human being (Shettles 17). The merger of the two sex cells is complete within twelve hours, at which time the egg is fertilized and becomes known technically as the zygote. The inherited characteristics of a unique human being has been established, and in no circumstances will it change (Shettles 17). At eighteen days, the heart is pumping through a closed circulatory system, with blood whose type is different from that of the mothers.The humor starts working at forty days. and all of the fetuss body systems are in place by the time it is two months old (Every child 1). Pro-lifers believe this evidence shows a fetus is alive. For these reasons, they feel the fetus has a soul and is a person seemly of respect. They conclude that aborting a fetus is the same as murdering a person (Abortion 3 ). Most pro-choice supporters agree that taking a human life is unlawful, however, they struggle that unborn fetuses do not constitute fully developed human life. The possession of forty-six chromosomes does not make a cell a person.Most of the cells in a persons body contain these 46 chromosomes, but that does not make a white corpuscle a person. As for the significance of uniqueness, identical quintuplets are genetically identical, yet they have personal identities apart from their genetic endowment. Even though a fetus might have a heartbeat and brain waves, this does not make a fetus a person. To be a person, there must be evidence of a personality. Dogs, frogs, and earthworms have all characteristics listed, but that is insufficient to make them persons Zindler 25). Another major pro-life concern is the medical hazards of an abortion. Pro-lifers believe that abortions have many negative physical and psychological effects. They say that even though abortion has been legalized, it remains a complicated procedure that can potentially harm a womans ability to bear normal, healthy babies in the proximo (Hilgers 152). The most common early complications of legally induced abortion are infection, hemorrhage, perforation of the uterus, and laceration of the cervix (Hilgers 153).There is also a pelvic inflammatory disease which can adhere abortion, and happens up to 30 percent of the time (Lowenstein 44). Although the complications are physical, many pro-lifers say that the psychological effects are far more dangerous. They believe abortion has a particularly harmful effects on teenagers (Everyones Biography 1). The Medical College of Ohio studied how teenagers were able to cope with abortions as compared to adult women. They studied thirty-five women who had abortions as teenagers and thirty-six women who had abortions after age twenty.They found there were two factors present in teenage abortions. First, people other than the teenager had control of the abor tion decision. Second, teenagers are less knowledgeable about the procedure and may have false ideas about it. Also, teenagers were less likely to consult a professional before making their decision. The get showed teenagers experienced greater stress during the abortion (Lowenstein 45). Pro-choicers strongly disagree on this matter. It is a proven fact that legal abortions are now medically safe and simple.Teenagers, for example, are 24 times more likely to die from childbirth than from a first-trimester abortion (Carlson 25). Death resulting from legal abortion is a very rare occurrence and easy to measure. In the first trimester, less that fractional of one percent of all abortion patients experience major complications (Jaffe, Lindheim, and Lee 150). Of course abortion involves some risk, but so do all medical procedures. According to the American Psychiatric Association report published in Science powder store in 1990, there are no significant psychological aftereffects of legal abortion.Legal abortion requested by the woman does not cause emotional problems or depression. Some women may feel sad or guilty at first, but not any more or less than any other personal crisis (Lowenstein 53). In particular, teenagers who had abortions seem to behave more normally than others who gave birth to a baby. Teenagers who have abortions are more likely to graduate high school, go to college, and get good jobs (Lowenstein 54). The third most controversial topic on abortions involves so-called hard cases such as rape and incest.The first point pro-lifers make is that the law allowing raped women to get abortions would only affect a few women, less than 1 percent of all abortions each year (Guernsey 68). Pro-life supporters believe the damage has already happened-that of the rape. An abortion will simply cause more psychological and physical harm. Even though half of the fetus if part of the rapist, half of the fetus is part of the woman, too. They believe it is unfa ir to kill a being who was not responsible for the rape (Lowenstein 47). Their feeling is the same for incest.In cases where abortion is chosen, pro-life activists believe an innocent baby is killed for a crime its father commits. The father, instead, should suffer. Pro-lifers believe if abortion is chosen, it helps to hide the fact that incest took place and it might continue(Lowenstein 48). Should abortion be allowed in cases of rape and incest? Absolutely yes, say pro-choicers. There may be serious psychological effects from having a child that was a result of a horrible experience like incest or rape. Pro-choice supporters believe if the woman decides to raise the child, they say, she will have a constant reminder of the incident (Lowenstein 55).Surveys have shown many people would accept abortion in cases of rape or incest (Women 2). Medical research has not determined whether there are genetic tendencies toward sexual crimes. The child may carry some of those genes (Lowenstein 55). In summary, abortion is a personal choice. No should be able to tell a women whether or not to have a child. Therefore, keeping abortion legal will ensure that situations that involve crisis or health risks to the mother or the fetus can be handled safely and legally.

Ptlls Reflection 2

PTLLS Assignments Reflection 2 Strategies for effective teaching Within my role of teaching on the level i incident command consort, I use a variety of teaching strategies to hopefully cover as many learners bespeaks as possible. Even though the course is assessable, the emphasis is very much on gaining an understanding of the command principles, rather than just knowing the right answers.There atomic number 18 a number of reasons for the need of variety * We have no knowledge of the students prior encyclopedism before they arrive, and the course is only one week long, in that locationfore there is insufficient time to analyse individual learning styles. * different methods atomic number 18 appropriate for different aras of knowledge * Initi on the wholey we use a more deductive learning approach, by providing a theory input session outlining the incident command approaches we want them to adopt. * We then undertake a classroom base scenario, where the students stinker prac tice the new skills. However when we go onto the fireground and undertake real life scenarios, we use a more Inductive learning approach, by utilising students as observers, the function is for the students to recognise the command principles being put into place by another student. * This is then re-affirmed in immediate feedback between the students and the teaching staff. * Students have different learning preferences i. e. some are more visual learners, some like working in groups, some prefer the written word etc. Throughout the course we are aware that the theory input throw out be dry, and the same teaching style will cause even the keenest student to lose interest, so we have split the information into three distinct sections and rotate the teaching staff to try and keep the students attention throughout. Due to the nature of the role we are developing the students into, the most effective learning activities are those that require students to process information rather th an transfer information or answer questions without understanding.Hence we spend the mass of the week undertaking concrete exercises. As such learning strategies such as Blooms Taxonomy may not be applicable to all the students on the course. David Kolbs Experiential Learning Theory fits better, as we find the students tend to fall into one or more learning style, and the practical based learning environment that we have is conductive to all students. Kolb defines student learning into the following categories 1. Converger 2. Diverger 3. Assimilator 4. AccommodatorConvergers are good at making practical applications of ideas and using deductive reasoning to solve problems Divergers are imaginative and are good at coming up with ideas and seeing things from different perspectives Assimilators are capable of creating theoretical models by means of inductive reasoning Accommodators are good at actively engaging with the world and real doing things instead of merely reading about and studying them Students learn best when they actively participate in the learning process, when they are engaged and motivated to learn, and when they can build on their existing knowledge and understanding.By using a teaching approach based upon The Honey & Mumford model we can cover the majority of learners needs. We view as Honey and Mumford stages in the following ways 1. Having an experience The practical scenarios 2. Reviewing the experience Immediate debrief and feedback 3. Concluding from the experience Reflective Review of the experience by the student 4.Planning the next steps Development report for the student To be an efficient, effective teacher, you need to know what your students are learning, as well as what they are struggling with. Assessing their learning, early and often, allows you to attend to any difficulties, or any misconceptions, as soon as they arise, before they become barriers to future learning.

International Multimedia Conference Essay

Camuri, A. , Mazzarino, B. , Ricchetti, M. , Timmers, R. , and Volpe, G. (2004). Multimodal abstract of expressive gesture in music and dance performances. In Gesture-Based Communication in Human-Computer Interaction, 2915, 357-358. The word focuses on research concerning the analysis of expressive gesture from the perspective of multimodal interaction and the development of systems of multimodal interaction by considering the role that non-verbal expressive gesture would play in the communication process. The multimodal analysis focuses mainly on dance and music because they provide a comprehensive emotional and expressive content.The authors explained the involvement of auditory and visual gestures in demonstrating the expressive purpose of the performers. They tested the model of auditory and visual gestures by making a comparison of the performances with the ratings of audiences of the same dance and music performances. Other topics that students poop get from the word includ e the definition of the expressive gesture, framework for multimodal analysis of expressive gesture in terms of the ability of performers to relay their emotions to the audience, and automated line of descent of auditory and visual cues.Dowling, R. G. , Dowling, R. , Reinke, D. , & National Cooperative Highway question Program (2008). Multimodal take of service analysis for urban streets. Washington, D. C. Transportation Research Board. The authors highlighted the findings of a see on how the public can interpret the quality of multimodal service offered by urban streets. The study focuses mainly on various factors that influence or adjoin the perception of various travelers when it comes to the level of service of urban streets, particularly the perceptions of automotive drivers, bicycle riders, bus riders, and pedestrians.The authors stressed the importance of using models of level of service in analyzing the benefits that urban travelers can get from context-focus street des igns. The book will help widen the knowledge of students in applying multimodal analysis to urban streets. It provides students with insights into the definition of urban streets and transits, techniques of analyzing the level of service for urban streets, and economic and safety aspects of level of service.Other topics covered in the book include the integration of four models of level of service in order to have the same level of service rating system and suggested level of service for bicycle riders, transit passengers, and pedestrians. Foote, J. , Boreczky, J. , Girgensohn, A. , & Wilcox, L. (1998). An trenchant media browser using self-acting multimodal analysis. International Multimedia Conference. Proceedings of the sixth ACM International Conference on Multimedia, 375-380. The article provides a way to automatically analyze multimedia using an intelligent browser.The automatic multimodal analysis allows users to have informed decisions on various interests in the field of media in order to avoid searching areas outside the scope their interest. The article provides explanation on two types of automatic multimodal analysis, the audio similarity to identify the speaker and the frame differences to detect shot. Recognition of gesture, motion, and face in the browsing purpose and the combination of audio and video analysis are integrated in the automatic multimodal analysis.The article can enhance the knowledge of students on automatic analysis of multimedia resources by providing various ways to make noisy and erroneous automatic estimates more applicable to the user. Some examples of multimedia resources include digital ink, unlikable captions, audio, video, and text annotations. Kress, G. & Van Leeuwen, T. (2001). Multimodal discourse the modes and media of contemporary communication. Arnold, New York Oxford University Press. The authors provided insights into the role that the communication hypothesis will play in the era of interactive multimedi a.They compared how the design view and production persuasion will interact during the design and development of communicative messages. They explained that design thinking and production thinking are two important types of thinking processes that take place during an individuals interaction with resources and media he or she utilized. The book is very relevant to the research concerning multimodal analysis because it helps widen the knowledge of students and readers in the field of communication, phraseology, and media.Moreover, students will learn to take the challenge brought by the emergence of multimedia, multimodality, and multi-skiing. The book will supplement students understanding of designing multimedia that was learned in school. It is not only catered to students but all types of professionals who are interested in multimodal design much(prenominal) as journalists, designers, photographers, and other people who are connected to the of acquirement and mathematics. OHa lloran, K. L. (2006). Multimodal discourse analysis systematic- numberal perspectives. London, England Continuum International Publishing.The book discusses important research in the field of multimodal texts and multimodal discourses. It focuses mainly on the development of the theory and the methodology of analyzing discourses by utilizing various semiotical resources like visual images, architecture, language, and space. The book provides an explanation on how the multimodal discourses are produced through the interaction of different semiotic modes of communication. Different modes of communication whitethorn include static and dynamic visual images, language, electronic media, architecture, electronic print, or electronic film.The book provides explanation on phase and transition, interaction of body causal agency and camera, use of color, typography, and layout. Other topics covered in the book include the development of multiple integrated semiotic model, visual semiosis in electronic films, application of system-functional theory in various semiotic resources, and analysis of three-dimensional space such as the Sydney Opera House. Ventola, E. , Charles, C. , & Kaltenbacher, M. (2004). Perspectives on multimodality. Amsterdam, Netherlands John Benjamins Publishing Co.The authors provided a background on various perspectives about multimodal discourse by focusing on methodological and theoretical issues such as multiple semiotic systems, mode hierarchies, and multimodal corpus annotation. The coming of computer and the growing use of the Internet allow scholars to be particularly interested on the characteristics of different modes of communication and the way these modes of communication can function semiotically and integrate in the emerging discourse analyses around the world.The book can help widen the understanding of students on the similarity between language and non-linguistic semiotic mode of communication, different signs of nature within the multimodality perspective, role of text imaging in providing positive outcomes for the learners, and the influence of semiotic transformation in the formal language of mathematics on the effectiveness of science to provide description of the physical world. Moreover, students can learn how to apply multimodal analysis in various fields such as entertainment, medicine, mathematics, design of buildings, and translation.References Camuri, A. , Mazzarino, B. , Ricchetti, M. , Timmers, R. , and Volpe, G. (2004). Multimodal analysis of expressive gesture in music and dance performances. In Gesture-Based Communication in Human-Computer Interaction, 2915, 357-358. Dowling, R. G. , Dowling, R. , Reinke, D. , & National Cooperative Highway Research Program (2008). Multimodal level of service analysis for urban streets. Washington, D. C. Transportation Research Board. Foote, J. , Boreczky, J. , Girgensohn, A. , & Wilcox, L. (1998). An intelligent media browser using automatic multimodal anal ysis.International Multimedia Conference. Proceedings of the Sixth ACM International Conference on Multimedia, 375-380. Kress, G. & Van Leeuwen, T. (2001). Multimodal discourse the modes and media of contemporary communication. Arnold, New York Oxford University Press. OHalloran, K. L. (2006). Multimodal discourse analysis systematic-functional perspectives. London, England Continuum International Publishing. Ventola, E. , Charles, C. , & Kaltenbacher, M. (2004). Perspectives on multimodality. Amsterdam, Netherlands John Benjamins Publishing Co.

Banking Practice & Guiding Laws Thereof on Ncc Bank

INTRODUCTION PART 1. 0 INTRODUCTION PART 1. 1 linage of the Report This intern place report authorize lingoing Practice & Guiding Laws thereof NCC entrust Perspective. has been started at the November 2011 chthonian the schooling of our honorable intern supervisor & instructor Syed Shamsir Hossain. Asst. Vice Pre spatial relationnt & Manager for the partial fulfillment of the requirement. 1. 2. Objectives of the report Main objective of the report is to analyze the Banking Practice & Guiding Laws of NCC Bank Ltd. Moreover, the weigh similarly embodied the followers specific objectives 1)To check the existing executions/activities of General Banking partition 2)To study the existing operations/activities of impertinent replace section. 3)To study the existing operations/activities of loans and benefit section. 1. 3 methodology of the Study The methodological section of the study is de sign as data inviteion Methods of selective in abidanceation sight The report was fully exploratory in nature. Data have been pile up from both uncreated and secondary sources.Primary sources of data Face to face conversation with the entrust officers & staffs. Informal conversation with the clients Secondary sources of data distinguishable manuals of NCC Bank express mail Different circulars of NCC Bank Limited Annual report of NCC Bank Limited, (2008-09-10) Prospectus of NCC Bank (2010) 1. 4 Limitation of the Report The array study was non extinct of limitations. But as an intern it was a massive opportunity for me to know the briming activities of Bangladesh specially NCC Bank. Some coldnesss ar appended bellow The main constraint of the study is inadequate access to information, which has hampered the scope of synopsis required for the study. As it is a new pious platitude it could not start all its operation, it was unable to rig up some formatted documents data for the study. ?E really organization has their own secrecy that is not revealed to opposite(a)s. While hive away data i. e. interviewing the employees, they did not disclose much information for the interest group of the confidentiality of the organization. ? Since the slang psycheals were very busy, they could provide me very little time. Another problem is that creates a lot of confusions regarding verification of data. In some cases more than unrivalled person were interviewed to clarify to each one concept as m any of the jargoners failed to provide vindicated-cut idea ab go forth the job they perform. AN OVERVIEW OF NATIONAL CREDIT AND COMMERCE edge LTD. 2. 0 NATIONAL CREDIT AND COMMERCE avowing concerning concern LTD. 2. 1 debut NCC Bank Limited is a new generation edge. It is a scheduled bank infra private field established down the stairs ambit of Bank caller phone number, 1991 and inembodiedd as Public Limited company act, 1994 on 17th whitethorn 1993.Prior to conversion into a scheduled commercial bank National doctrine Lim ited (NCL) was incorporated as public limited investment company in Bangladesh on 18th November 1985. It make its journey with a modest beginning on 25th November 1985 at its registered office and first offset at 7-8 Motijheel commercial Area, Dhaka-1000. The initial pass offd Capital of the company was 30 (Thirty) crore consisting of 30 (Thirty) lac. Ordinary sh atomic number 18 of Tk. 100/- each. A new opportunity in this field of monetary activities was opened for the business.NCL made a c atomic number 18ful journey and maintained its successive leave for few years with its qualified sea captain management on a lower floor roughly unpredictable, unregulated, uncertainties and limitations. The emergence of NCC Bank Limited at the Juncture of liberalization of global economic activities, after the URUGUAY round has been an key event in the financial sector of Bangladesh. The experience of the prosperous force and the strategic operational policy is the option of the bank. The company philosophy, A Bank with vision has been precisely the essence of the legend of Banks success. . 1. 1 NCC Bank- At Pre displace Like clothes shops, keepdy shops, bake shops, food shops, NCCBL is not a debt shop the term being use by many to call the pre move say banks. It is now been called a modern bank that undertakes all its operation at international standard. Having standard its operation as a commercial bank in 1993, recording from some firsthand difficulties, NCC bank has now emerged as a major player in the financial sector. Listed in both Dhaka and Chittagong bourses since late 1999 with an IPO that raised the paid-up enceinte of the bank to Tk. 9 crore. Banks be the pillars of the financial clay. Specially, in Bangladesh, the health of the banking system is very vital because the capital market is little developed here. As the banks argon still the major sources of credit and exercise great do work on the financial system, it is extremely consequenceant that the pastorals banking systems should be in good health in the interest of investment activities, meeting the impoverishmentfully of all kinds of finance and related matters.Over the years, NCC bank has built itself as one of the pillars of Bangladeshs financial sector and is playing a pivotal role in the extending the role of the private sector of the prudence. The bank has a steadfast stage ne bothrk nation wide with 32 classes. i. 2. 1. 2 Exchange NCCBL operates foreign exchange business promptly. There 13 tell apart deals with foreign exchange. 2. 1. 2 Nature of the business Mission of NCC bank We shall be the forefront of national economic developing by ?Anticipating business solutions required by all our customers everywhere and innovative supplying them beyond expectation. Setting industry benchmarks of world class standard delivering customer repute through our comprehensive product range, customer armed service and all our activities building an exciting t eam-based on the job(p) environment that pass on attract, develop and retain employees of majestic ability who help celebrate the success of our business, of our customer and of national development. ?Maintaining the highest ethical standards and a community responsibility worthy of a leading corporate citizen. ? continuously improving productivity and profitability, and thereby enhancing shargonholder value. . 1. 3 Vision To be in the front of national development by providing all the customers inspirational strength, proficient support and the most comprehensive range of business solution through our team of professional that work passionately to be outstanding in everything we do. 2. 1. 4 Goal of the Bank To sh ar a signifi rout outt portion of the banking sectors by utilizing available manpower and in like manner state of the art applied science for maximizing the shareholders wealth. i. Long Term Goal To maximize the wealth of the shareholders. ii. Short Term GoalTo earn satisfactory rate of return on investment by providing wide range of banking service. 2. 1. 5 Board of Directors At present there are 26 members in the Board of Director. Out of 26 members 23 of them are the sponsor of the shareholder and 3 of them are publicly nominated as the equity participants from capital market have included them. til now the members are cause to maintain annul general meeting and declare the dividend payout schedule on due time. Moreover, the committee selected by shareholders represents individual body that then looks after the nightly issue with the management and tries to solve the problem. . 1. 6 Management of NCC vernacular For any financial and non-financial organization, Management is the most valuable and important resources of any kind of organization. And, a well-organize management provides the organization to reach its ultimate goal. Management means planning, organizing, staffing, directing and controlling of all financial and non-financial r esources of an organization. Different aspects of management practice in NCC BANK planning, organizing, staffing, directing & controlling, human resources practices and recruitment finally. 2. 1. Features of NCCBL Bank is an intermediary institute. Like other commercial bank NCCBL in addition has some special features. They are as follows ii. statutory Entity It is compulsory matter for a bank to achieve legal entity. The well-kniter legal entity leads to stiff banking program. NCCBL has a strong legal entity. iii. Organizational Structure NCCBL has a well-set organizational structure. Organizational structure is a precondition of effective banking activities. iv. Financial Solvency Though NCCBL is a new bank, its ratio of liquidity is well and strong.So, the clients take on greater confidence in the bank. v. Location of The Bank Location is very useful for bank. The Head Office and the branches of NCCBL are located in the central pointedness of the capital and the other distr ict towns. vi. Relation with the Central Bank As the NCCBL is the government-registered bank, so it maintains a friendly behavior with the Bangladesh Bank. vii. Security the NCCBL is totally a secured bank. The clients of the bank select a heavy security on their amaze. viii. Management of the Bank The executives and the officers of NCCBL are very experienced.Maximum executives are ex-government bank officers. NCC bank is a progressive commercial bank in privet sector in Bangladesh. It creates a new opportunities for its clients. It gives customized service and harmonious banker-client relationship. It contri hardlyes towards formation of national capital, growth of saving and investment in trade, commerce and industrial sectors. It provides different types of commercial banking and service to the customer of all strata in the society with in the stipulation laid down in the Bank connection Act 1991. Rules and regulations ramed by the Bangladesh bank from time to time. 2. 1. 8 Bu siness Operation National concern and Credit Bank Limited emerged as bank in the country on 17th May 1993 out of a great turbulent situation encounter by set while National Credit Limited. However the institution survived the ordeals and come out as a full-fledged commercial bank. The company raised its Authorized Capital to Tk. 750 meg as per guidelines set out by the Bangladesh Bank. The paid up capital was fit(p) at Tk. 480. 48 million as against Tk. 429. 00 million. 2. 1. 9 Trade Finance and Correspondent BanksSuccessful companies today are fully aware that they need to be able to rely on the run of a bank that so-and-so handle international trade with a good hand. Ever since its conversion into a full fledged bank in 1993, NCC bank has been an accomplished Trade Finance bank. With a highly professional team experienced and competent professionals we are able to provide a wide range of services to companies engaged in international trade. NCC Bank has similarly positioned itself as an established pressman bank. Through a worldwide network of 260 correspondent banks NCC Bank is present in all key areas of the globe.Our ambit of correspondent includes top ranking international banks with a global reach. 2. 1. 10. Branches of NCCBL NCCBL has 87 (Eighty Seven) branches all over in Bangladesh. 2. 1. 11. Performance of the Bank The bank whitethorn sustain its strong image in the mind of the customers and shareholders as a leading financial institution despite serious competition from both local and foreign banks direct in the country. Sill they are increasing their profit. Its scuttle profit was Tk. 624. 94 million in 2003, which were Tk. 2371. 68 million after revenue enhancement in 2010. 2. 1. 12 Authorize CapitalThe authorize capital of the bank is Tk. 10,000. 00 million in the year 2010. 2. 1. 13. Paid-up Capital The bank raises its paid-up capital from Tk. 480. 48 million to Tk. 4501. 25 million for 2002 to 2010. With the increase of paid-up capit al the capital based of the bank has experience strong. Reserve Fund and different Reserves The reserve fund of the bank change magnitude of Tk. 5771. 09 million in the year 2010 as against Tk. 4371. 62 million of previous year. 2. 1. 14 corporate Mission To provide high quality financial services in export and import trade. To provide excellent quality Customer service. To maintain Corporate and business ethics. To become a trusted repository of customers gold and their financial advisor. To make our stock superior and rewarding to the customers/share holders. To display team spirit and professionalism. To have a Sound Capital Base. 2. 1. 15 Corporate Culture This bank is one of the most disciplined Banks with a distinctive corporate culture. Here we believe in shared meaning, shared understanding and shared sense make. Our people can see and understand events, activities, objects and situation in a distinctive way.They mould their manners and etiquette, character individua lly to suit the designing of the Bank and the needs of the customers who are of paramount importance to us. The people in the Bank see themselves as a tight knit team/family that believes in working together for growth. The corporate culture we belong has not been imposed it has rather been achieved through our corporate conduct. 2. 1. 16 SWOT Analysis SWOT analysis is the detailed study of an organizations exposure and potential in perspective of its strength, weakness, opportunity and threat.This facilitates the organization to make their existing line of performance and withal foresee the future to improve their performance in comparison to their competitors. As though this tool, an organization can besides study its current position, it can also be considered as an important tool for making changes in the strategic management of the organization. Strengths NCC BANK Limited has already established a favorable disposition in the banking industry of the country. It is one of th e leading private sector commercial banks in Bangladesh. The bank has already shown a tremendous growth in the wampum and bonds sector. NCC BANK has provided its banking service with a top leadership and management position. NCC BANK Limited has already achieved a high growth rate accompanied by an impressive profit growth rate in 2001. The number of deposits and the loans and advances are also increasing rapidly. NCC BANK has an interactive corporate culture. The working environment is very friendly, interactive and informal. And, there are no hidden barriers or boundaries while communicate amid the superior and the employees. This corporate culture provides as a great motivation factor among the employees. NCC BANK has the reputation of being the provider of good quality services too its, potential customers. Weaknesses The main important thing is that the bank has no clear mission statement and strategic plan. The bank doesnt have any long-term strategies of whether it wants to focus on retail banking or become a corporate bank. The path of the future should be determined now with a strong feasible strategic plan. The bank failed to provide a strong quality-recruitment policy in the lower and some mid level position. As a result the services of the bank seem to be Deus in the present days. _The poor service quality has become a major problem for the bank. The quality of the service at NCC BANK is higher than the Dhaka Bank, NCC BANK or Dutch Bangla Bank etc. But the bank has to compete with the Multinational Bank located here. Some of the job in NCC BANK has no growth or advancement path. So lack of motivation exists in persons filling those positions. This is a weakness of NCC BANK that it is having a group of unsatisfied employees. __In terms of promotional sector, NCC BANK has to more emphasize on that. They have to follow aggressive marketing campaign. _The default risks of all term loans have to be minimized in order to sustain in the financial market. Because of default risk the organization may become bankrupt. NCC BANK has to remain vigilant about this problem so that proactive strategies are taken to minimize this problem if not eliminate. Opportunities In order to reduce the business risk, NCC BANK has to stretch forth their business portfolio. The management can consider options of starting merchant banking or diversify into leasing and insurance sector. The activity in the secondary financial market has direct impact on the primary financial market.Banks operate in the primary financial market. Investment in the secondary market governs the national economic activity. Activity in the national economy controls the business of the bank. Opportunity in retail banking lies in the fact that the countrys increased people is gradually learning to adopt consumer finance. The bulk of our population is middle class. Different types of retail lending products have great appeal to this class. So a wide variety of retail lend ing products has a very large and easily pregnable market. A large number of private banks coming into the market in the recent time.In this competitive environment NCC BANK must(prenominal) expand its product line to enhance its sustainable competitive advantage. In that product line, they can earn the ATM to compete with the local and the foreign bank. They can introduce credit card and debit card system for their potential customer. In addition of those things, NCC BANK can introduce special corporate scheme for the corporate customer or officer who have an income level higher from the service holder. At the comparable time, they can introduce scheme or loan for mixed service holders.And the scheme should be separate according to the professions, such as engineers, lawyers, doctors. Threats All sustaining multinational banks and upcoming foreign and private banks pose significant threats to NCC BANK Limited. If that happens the intensity of competition will rise further and b anks will have to develop strategies to compete against these local and foreign banks. Other commercial banks are offering higher salary that may create problem for NCCBL to retain their experienced managers and executives. ? MAJOR PRODUCTS OF NCC BANK LTD. 3. 0 PRODUCTS OF NCC BANKBefore discussion about products of NCC Bank, we have to understand what banks products are. Bank is a service oriented industry and deals with various financial products and services for financial gains. Financial products and services products that a bank offers to its customers are mainly classified as under a)Deposit Products to generate capital. b)Lending products for financial gains c)Money Transmission products d)International business products e)Special fee earning service3s f)social services products Products that are marketing by NCC Bank are as under 3. 1. 1.Deposit Products Deposit is the lifeblood of a bank. From the history and origin of the banking system we know that deposit collection is the main function of a bank. Accepting deposits Procedures of collecting deposit procedure are almost same in the entire bank and the branches as well. The deposits that are accepted by NCC BANK like other banks may be classified into veritable Deposit Short term deposit Saving Deposit Fixed deposit Special Saving shunning Deposit (SSS) 3. 1. 2. Lending Products Bank has its own principle about the credit sanctioned or loan to the ustomers, provided lending product of a bank or of a branch is equal important to verify the outstanding at the end of any fiscal year. Every bank pays special aid about their lending products, because these products are handed over on a regular basis. Continuous lend a. Secured Overdraft against Financial Obligation SOD (FO) Advances allowed to individual/firms against financial promise (i. e. lien of FDR/PSP/BSP/Insurance Policy etc. ) and against assignment of works order for execution of contractual works fall under this head. It is a continuo us advance facility.By this agreement, the banker allows his customer to overdraft his current throwaway up to his credit limits sanctioned by the bank. The interest is charged on the amount, which he withdraws, not on the sanctioned amount. NCC BANK sanctions SOD against different security. b. Secured Overdraft against Work order/ Real Estate etc SOD (G) Advances allowed against assignment of work order or execution of contractual works locomote under this head. This advance is in general allowed for a definite period and specific purpose i. e. it is not a continuous credit. It falls under the kinfolk others. c. Cash Credit (Hypothecation)Advances allowed to individual /firm for trading as well as wholesale purpose or to industries to meet up the working capital requirements against hypothecation of goods as primary security fall under this type of lending. It is a continuous credit. It is allowed under the category (i) Commercial Lending when the customer is other than a indus try and (ii) functional Capital when the customer is an industry. d. Cash Credit (Pledge) Financial accommodations to individual / firm for trading as well as furbish up-sale purpose or to industries as working capital against pledge of goods as primary security fall under this head on advance.It is also a continuous credit and like the in a higher place allowed under the categories (i) Commercial Lending and (ii) Working Capital. e. export Cash Credit (ECC) Financial accommodation allowed to a party for export of goods falls under this head and is categorized as exporting Credit, The advances must be neutralised out of export proceeds within 180 days. beg bestow Demand contribute (Forced LIM, BLC, PAD, IBP etc). Overdue period will be counted from the day following the date of expiry of such loan.? Less than 6 months ? 6 months or more but less than 9 months 9 months or more but less than 12 months ?More than 12 monthsUnclassified Sub-standard Doubtful Bad/loss 1% 20% 50% 100% a. Loan General Short term, Medium term & Long term loans allowed to individual /firm /industries for a specific purpose but for a definite period and generally repayable by installments fall under this head . this type of lending are mainly allowed to accommodate financing under the category (a) Large & Medium Scale industry and (b) Small & Cottage Industry . Very term financing for (a) Agriculture & (b) Others are also included here . b. Demand Loan Against Ship breakingThis type of loans does not exercise in this branch, but being exercised to other branch that provide advances against ship breaking. c. payment Against Documents (PAD) Payment made the bank against lodgment of exaltation documents of goods trade through L. C. falls under this head. It is an interim advance connected with import and is generally liquidated shortly against payments usually made by the party for retirement of the documents for release of imported goods from the customs authority. It falls un der the category Commercial Lending . d. Loan against logical implicationed Merchandise (LIM)Advances allowed for retirement of shipping documents and release of goods imported through L. C. taking effective control over the goods by pledge in securities firm house under banks lock & key fall under this type of advance. This is also a temporary advance connected with import which is cognise as post-import finance and falls under the category Commercial Lending. e, Loan against Trust Receipt (LTR) Advance allowed for retirement of shipping documents and release of goods imported through L. C. without effective control over the goods delivered to the customer falls under this head.The goods are handed over to the importer under trust with the arrangement that sale proceeds should be deposited to liquidate the advances within a given period. This is also a temporary advance connected with import and known as post-import finance and falls under the category Commercial Lending. g. pa cking material Credit Advance allowed to a party against specific L. C/firm contract for processing/ packing of goods to be exported falls under this head and is categorized as Packing Credit. The advances must be adjusted from proceeds of the relevant exports within 180 days. i. contradictory documentary Bills Purchased (FDBP)Payment made to a customer through purchase/ negotiation of a foreign documentary bills falls under this head. This temporary advance is adjustable from the proceeds of the shipping/export documents. Its falls under the category trade Credit j. Local Documentary Bills Purchased (LDBP/IDBP) Payment made against documents representing sell of goods to local export oriented industries which are deemed as exports and which are denominated in Local currency/ foreign currency falls under this head. The bill of exchange is held as the primary security. This temporary financial obligation is adjustable from the proceeds of the bills. . Festival Business Loan. This type of loan are generally sanctioned depending on the occasion, more than two festival business loans are generally sanctioned in an annum. Term Loan a. get word Loan NCC BANK offers different conventional credit/investment schemes and the Banking products to their customers. So far loans and advances portfolio includes Project Finance in the form of Term Loan, Real Estate Finance, Secured Overdraft against FDR, different security certificates, working capital in the form of Cash Credit Hypothecation, conditional relation Trade Finance in the form of PAD/LIM/TR etc.NCC BANK considers the loans, which are sanctioned for more than one year as term loan. Under this facility, an opening is financed from the starting to its finishing, i. e. from installation to its production b. Transportation Loan Considers the loans, which are sanctioned for the purpose of delivering the goods on to its final destination, its generally use in the form of landlocked exporting or back to back earn of credit. c. family unit Building Loan Loans allowed to individual/ enterprise construction of house (residential or commercial) fall under this of advance.The amount is repayable by periodic installment within a specified period, advances are known as Loan (HBL GEN). d. Small Business Loan Short term and long term loans allowed to individual/ firms / industries for a specific purpose but a definite period and generally repayable by the installments fall under this head. These types of lending are mainly allowed to accommodate financing under the categories. Small and Cottage Industries, Very often term financing for market-gardening and others are also included here. e. Consumer Finance LoanNCCBL keeping in mind the economic development and helping the fixed income group in fulfilling their demand to advertise the standard of living will continue before consumer finance scheme for Household appliances, Furniture & Fixture, Air Conditioner, Fax Machine, motor cycle/Car, Cellul ar phone, and Other equipment f. Lease Finance NCCBL to keep its contribution to the growth of national GDP, accelerate the total economic development by infusing the fund in productive sector in more efficient and effective way diversity its portfolio and satisfy the customers need would go for lease finance for Setting up of small and bungalow industries/Projects, BMRE of existing projects Transports (roads/marine), Medical equipment/surgical/clinical/lab equipment/x-ray machine etc, Construction equipment and other fixed assets of other productive and service oriented ventures. g. personal Loan To meet emergency financial requirement especially for medical treatment/surgical operation, marriage, admission of children/ educational expenses, maternity the loan facility may be extended. 3. 1. 3. Money transmission Product Carrying cash money is troublesome and risky.Thats why money can be transferred from one place to some other through banking channel. This is called remittance. Remittances of funds are one of the most important aspects of the Commercial Banks in rendering services to its customers. Payment order/security deposit pass along (PO/SDR) This term will be discussed in the general activities section under remittance department. Demand indite (DD) This term will also been discussed in the overall activities section under remittance department. Telegraphic Transfer (TT) This is also a common term that in the remittance section as well. . travellers Cheque Travelers Cheque (TC)Issue of TCTC is useful to traveler abroad. Customers can encash the TC in abroad from the drawee bank. TC is alternative to property cash and it provides better security than holding cash in hand. Buying Of TCIf any unused leaf of TC is surrendered bank bribes it from the customer. All payments are made in local currency. Banks generally buy altogether those TC. 3. 1. 4. International Business Products In banks when we talk of international business products, we refer t o the general appliance by which a bank converts currency of one country into that of another. remote Exchange Department (FED) is the international department by which a bank or an AD branch transects with other international bank or of a brach. Bangladesh Bank issues license to scheduled banks to deal with foreign exchange. These banks are known as Authorized Dealers. If the branch is classical dealer in foreign exchange market, it can remit foreign exchange from local country to foreign countries by transacting their international business products. So NCC BANK, nous branch is an real dealer. Letter of Credit (L/C) Back to back Letter of credit (BTB L/C) Buying and selling of foreign exchange Foreign demand draft (FDD) Foreign Demand DraftBank issue Demand Draft in favor of purchaser or any other according to instruction of purchaser. The payee can collect it for the drawee bank in which the Issuing bank of Demand Draft holds its NOSTRO Account. Bank also makes payment on DD drawn on this bank by its foreign concord bank through the VOSTRO Account. Foreign telegraphic transfer (FTT) Outward remittance covers sales of foreign currency through issuing foreign T. T. Drafts, Travelers Check etc. as well as sell of foreign exchange underL/C and against import bills retired. 3. 1. 5. Special fee earning products NCC Bank considers the special earning product to the different consumer, as it to play a comprehensive role in financing the bank product. Among those following are some issues relate to special fee earning product Bank attempt Foreign bank Guarantee (F. B/G) Underwriting Brokerage House and locker Service Issuances of Sanchaya Patra, Wages Earners Development link, National Investment Bond, Prize Bond are some special earning fee product of NCC bank. 3. 1. 6. Social Service ProductsNCC Bank Considers several service products by looking at the social point of view, At this competitive edge, banking might have reached to preserve its market share a nd to penetrate new market share through diversification of its product range. side by side(p) are the services that are designed to provide for society Sale of Lottery Tickets for collection of fund for social establishment Collection of Zakat Fund Collection of Haj Deposit 3. 2 CREDIT POLICY & CREDIT OPERATION OF NCCBL Credit policy is a guideline of a financial institution to determine- Who shall get credit (eligibility to get loan) How much to lend (Amount of lending) Why to lend (Purpose of lending) Where to finance (Portfolio Management depending upon profitability and requirement for participation on socio economic benefits) Credit incision of a bank especially acts as a key financial machine to haunt for earning revenue of a bank to achie3ve its ultimate goal for profut maximation with minimal risk maintaining balanced portfolio management. 3. 3 WHERE TO FINANCE (FINANCING ACTIVITIES OF NCC BANK) Financial activities of a bank depend upon its portfolio management of its f unds through deposit.Our lending policy would be within the broad policy frame work envisaged above. Banks lending activities may be classified into the following broad segments. 1. Trade and Commerce 2. Industries 3. Lease Financing 4. Consumer Financing 5. Real Estate & Civil Construction 6. Agro based 7. Small Business Loans 8. Personal Loans 3. 4 Security Policies The term loans, if any extended by the bank shall gave to be secured by first charge owe on the fixed asset coverage leaving a mete of at leas 25% depending upon the viability of the project.Consideration in this regard will vest purely on viability criteria irrespective of bank client-relationship. The determinants in this respect are debt service coverage, debt-equity ratio, and fixed coverage to term loan with a margin of 25-30% negligible. The working capital may be additionally covered by 1st charge mortgage of the fixed asset or by sharing first mortgage ranking PARIPASU with the financial institutions providi ng term loan. Decision is this regard shall be at the sole discretion of the bank. GENERAL BANKING OF NCC BANK LTD. 4. 0 FUNCTIONS OF NCC BANK LIMITED 4. 1 GENERAL BANKINGGeneral banking department is the heart of all banking activities. This is the busiest and important department of a branch, because funds are mobilized, cash transactions are made clearing, remittance and accounting activities are done here. Since bank is confined to provide the services everyday, general banking is also known as retail banking. In NCC BANK LTD Principal Branch, the following departments are under general banking section A)Account opening section B)Deposit Section C)Cash Section B)Remittance section C)Clearing section D)Accounts section 4. 1. 1 A) ACCOUNT OPENING SECTIONAccount opening is the gateway for clients to enter into business with bank. It is the foundation of banker customer relationship. This is one of the most important sections of a branch, because by opening accounts bank mobilizes f unds for investment. Various rules and regulations are maintained and various documents are taken while opening an account. A customer can open different types of accounts through this department. such as 1. Current Deposit. 2. Savings account. 3. Short notice deposit (SND) Types of Accounts with Terms and Conditions Current Deposit Current account is purely a demand deposit account.There is no restriction on withdrawing money from the account. It is basically justified when funds are to be collected and money is to be paid at frequent interval. Some important points have been discussed in the project part. Savings Bank Account This deposit is generally for small-scale savers. Hence, there is a restriction on withdrawals in a month. Heavy withdrawals are permitted only against prior notice. Some significationant Points have been discussed in project part. SND (Short Notice Deposit) Account Normally various big companies, organizations, Government Departments keep money in STD acc ount.Frequent withdrawal is discouraged and requires prior notice. The deposit should be kept for at least seven days to get interest. The interest offered for STD is less than that of savings deposit. Interest is calculated based on daily minimum product and paid two times in a year. Interest rate is 6. 00%. Table-01 Account Opening procedure Step 1The account should be justly introduced by Any one of the following ? An existing Current Account holder of the Bank. ?Officials of the Bank not below the rank of an Assistant officer. ?A honorable person of the locality well known to the Manager/Sub-Manager of he Branch interested. Step 2Receiving filled up application in banks positivistic form mentioning what type of account is desired to be opened Step 3? The form is filled up by the applicant himself / herself ? cardinal copies of straits size photographs from individual are taken, in case of firms photographs of all partners are taken ? Applicants must submit required documen ts ?Application must sign ideal signature sheet and give mandate ? Introducers signature and accounts number verified by legal officer Step 4Authorized Officer accepts the applicationStep 5Minimum balance is deposited only cash is accepted Step 6Account is opened and a Cheques book and pay-in-slip book is given Documents required for opening account ? Individual / Joint Account 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Identity (copy of passport). 4. Joint Declaration Form (For joint a/c only). 5. Employees award (in case of service holder). ? Partnership account 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3.Partnership letter duly signed by all partners (Sign should be similar as stated in Partnership Deed). 4. Partnership Deed duly evidence by Notary public. 5. Registration (If any). 6. Updated Trade license. ? Proprietorship account 1. Introduction of th e account. 2. Two photographs of the signatories duly attested by the introducer. 3. Valid copy of Trade License. 4. Rubber stamp. 5. TIN number certificate. 6. Identity (Copy of passport). 7. Permission letter from DC/ Magistrate (in case of newspaper) ? Limited company 1. Introduction of the account. 2.Two photographs of the signatories duly attested by the Introducer. 3. Valid copy of Trade License. 4. Board resolution of opening A/C duly certified by the Chairman/Managing Director. 5. Certificate of Incorporation. 6. Certificate of Commencement (In case of Public limited company). 7. Certified (joint stock) true copy of the Memorandum and Article of Association of the Company duly attested by Chairman or Managing Director. 8. List of directors along with designation & specimen signature. 9. Latest certified copy of Form xii (to be certified by register of joint stock companies) (In case of Directorship change). 0. Rubber Stamp (Seal with designation of each person) 11. Certific ate of registration (In case of Insurance Company Obtained from department of Insurance from the Peoples Republic of BD). ? Club / societies account 1. Introduction of the account. 2. Two photographs of the Signatories duly attested by the introducer. 3. Board Resolution for Opening A/C duly certified by President/ Secretary. 4. List of Existing Managing Committee. 5. Registration (if any). 6. Rubber Stamp. 7. Permission letter from Bureau of N. G. O. (In case of N. G. O. A/C). Closing of an accountThe closing of an account may happen, ?If the customer is desirous to close the account, ?If the NCC BANK finds that the account is inoperative for a long duration. ?If the court of NCC BANK issues garnishee order. A customer may close his/her account any time by submitting an application to the branch. The customer should be asked to draw the final check for the amount standing to the credit of his/her account less the amount of closing an other incidental charge and surrender the unuse d check leaves. The account should be debited for the account closing charge etc. nd the authentic officer of the bank should destroy unused check. In case of joint account the application for closing the account should be signed by the joint account holder. The fee for closing of an account is Tk. 50. 4. 1. 2 B) LOCAL REMITTANCE Carrying cash money is troublesome and risky. Thats why money can be transferred from one place to another through banking channel. This is called remittance. Remittances of funds are one of the most important aspects of the Commercial Banks in rendering services to its customers. Types of remittance ?Between banks and non banks customer Between banks in the same country ?Between banks in the different centers. ?Between banks and central bank in the same country ?Between central bank of different customers. The main instruments used by the NCC BANK of remittance of funds are ?Payment order (PO) ?Demand Draft (DD) ?Telegraphic Transfer (TT) So the basic thr ee types of local remittances are discussed below Table- 02 PointsPay putDemand DraftTT ExplanationPay Order gives the payee the right to claim payment from the issuing bankDemand Draft is an order of issuing bank on another branch of the same bank to pay specified sum of money to payee on demand.Issuing branch requests another branch to pay specified money to the specific payee on demand by Telegraph /Telephone Payment fromPayment from issuing branch onlyPayment from ordered branch Payment from ordered branch Generally used to Remit fund Within the clearinghouse area of issuing branch. Outside the clearinghouse area of issuing branch. Payee can also be the purchaser. Anywhere in the country Payment Process of the paying bankPayment is made through clearing 1. Confirm that the DD is not forged one. 2. Confirm with sent advice 3. Check the Test Code 4. Make payment1.Confirm issuing branch 2. Confirm Payee A/C 3. Confirm amount 4. Make payment 5. Receive advice send off Only commiss ionCommission + telex chargeCommission + Telephone Term Deposit Receipt The Local Remittance section of NCC BANK Motijheel Branch also issues TDR. They are also known as time deposit or time liabilities. These are deposits, which are made with the bank for a fixed period, specified in advance. The bank need not maintain cash reserves against these deposits and therefore, the bank offers higher of interest on such deposits. Term Deposits These rates are not negotiable.In this table we can find out the percentage that is given by the bank for specific period of time to the customer. 4. 1. 3 CLEARING SECTION The amount of Cheques, Pay Order (P. O), and Demand Draft (D. D) Collection from other banks on behalf of its customer is a basic function of a Clearing Department. Clearing Clearing is a system by which a bank can collect customers fund from one bank to another through clearing house. Clearing House Clearing House is a place where the representatives of different banks get togethe r to receive and deliver Cheques with another banks. Normally, Bangladesh Bank performs the Clearing House in Dhaka, Chittagong, Rajshahi, Khulna & Bogra. Where there is no branch of Bangladesh Bank, Sonali bank arranges this function. Member of Clearing House NCC BANK limited is a scheduled Bank. According to the Article 37(2) of Bangladesh Bank Order, 1972, the banks which are the member of the clearinghouse are called as Scheduled Banks. The scheduled banks clear the draw off drawn upon one another through the clearinghouse. Types of ClearingA)Outward Clearing When the Branches of a Bank receive stays from its customers drawn on the other Banks within the local clearing zone for collection through Clearing House, it is Outward Clearing. B)Inward Clearing When the Banks receive cheque drawn on them from other Banks in the Clearing House, it is Inward Clearing. Who will deposit cheque for Clearing Only the regular customers i. e. who have Savings, Current, STD & Loan Account in t he bank can deposit cheque for collection of fund through clearing house. Responsibility of the concerned officer for the Clearing Cheque and being work with department, following are the issues )Crossing of the cheque. 2)(Computer) post horse of the cheque. 3)Clearing seal & proper endorsement of the cheque. 4)Separation of cheque from deposit slip. 5)Sorting of cheque 1st bank wise and then on branch wise. 6)Computer print 1st branch wise & then bank wise. 7)Preparation of 1st Clearing House reckoner validation sheet. 8)Examine computer validation sheet with the deposit slip to justify the computer posting 9) Copy of computer posting in the floppy disk. Bills Collection In modern banking the mechanism has become complex as far as smooth transaction and safety is concerned.Customer does pay and receive bill from their counterpart as a result of transaction. Commercial banks duty is to collect bills on behalf of their customer. Types of Bills for Collection i. Outward Bills for Co llection (OBC). ii. Inward Bills for Collection (IBC). What is OBC? OBC means Outward Bills for Collection . OBC exists with different branches of different banks outside the local clearinghouse. Normally two types of OBC 1)OBC with different branches of other banks 2)OBC with different branches of the same bank Procedure of OBC 1)Entry in the OBC register. 2)Put OBC number in the cheque. ) Crossing seal on the left corner of the cheque & payees account will be credited on realization seal on the back of the cheque with signature of the concerned officer. 4)Dispatch the OBC cheque with forwarding. 5)Reserve the photocopy of the cheque, atomic number 6 copy of the forwarding and deposit slip of the cheque in the OBC file. Inward bills for collection (IBC) When the banks collect bills as an agent of the collecting branch, the system is known as IBC. In this case the bank will work as an agent of the collection bank. The branch receives a forwarding letter and the bill. Procedure of I BC 1.IBC against OBC To receive the OBC cheque first we have to give entry in the IBC Register . The IBC number should put on the forwarding of the OBC with date. 2. Deposit of OBC amount OBC cheque amount is put into the sundry deposit-sundry Creditors account, prepare debit & credit voucher of it. If the OBC cheque is honored, send credit advice (IBCA) with signature & advice number of the concern branch for the OBC amount. 3. If the OBC cheque is dishonored, the concerned branch is informed about it. 4. Again place in the clearing house or send the OBC cheque with Return Memo to the issuing branch according to their information. . 1. 4 D) ACCOUNTS SECTION Accounts Department is called as the nerve Centre of the bank. In banking business, transactions are done every day and these transactions are to be recorded properly and systematically as the banks deal with the depositors money. . Improper recording of transactions will lead to the mismatch in the debit side and in the credit side. To avoid these mishaps, the bank provides a separate department whose function is to check the mistakes in passing vouchers or wrong entries or impostor or forgery.This department is called as Accounts Department. If any discrepancy arises regarding any transaction this department report to the concerned department. Besides these, the branch has to prepare some internecine statements as well as some statutory statements, which are to be submitted to the Central Bank and the Head Office. This department prepares all these statements. Workings of this department Packing of the correct vouchers according to the debit voucher and the credit voucher Recording the transactions in the cashbook. Recording the transactions in general and subsidiary volume Preparing the daily position of the branch comprising of deposit and cash Preparing the daily Statement of Affairs showing all the assets and liability of the branch as per General script and Subsidiary Ledger separately Making pa yment of all the expenses of the branch Recording inters branch fund transfer and providing accounting treatment in this regard. Preparing the monthly salary statements for the employees Preparing the weekly position for the branch which is sent to the Head Office to maintain Cash Reserve Requirement (C.R. R) Preparing the monthly position for the branch which is sent to the Head Office to maintain Statutory Liquidity Requirement (S. L. R) Make charges for different types of duties Preparing the budget for the branch by fixing the target regarding profit and deposit so as to take requisite steps to generate and mobilize deposit. Checking of Transaction List Recording of the vouchers in the Voucher Register 4. 2 E. opposed EXCHANGE Foreign exchange is the means and methods by which rights to wealth in a countrys currency are converted into rights to wealth in another countrys currency.In banks when we talk of foreign exchange, we refer to the general mechanism by which a bank conve rts currency of one country into that of another. Foreign Exchange Department (FED) is the international department Bangladesh Bank issues license to scheduled banks to deal with foreign exchange. These banks are known as Authorized Dealers. If the branch is authorized dealer in foreign exchange market, it can remit foreign exchange from local country to foreign countries. So NCC BANK, Principal branch is an authorized dealer. There are three kinds of foreign exchange transactionA)Import B) export C)Remittance. 4. 2. 1 A) IMPORT To import, a person should be competent to be an importer. According to Import and Export Control Act, 1950, the Office of Chief restrainer of Import and Export provides the registration (IRC) to the importer. In an international business environment, buyers and sellers are generally unknown to each other. So seller of goods always seeks security for the payment of his exported goods. Bank gives export guarantee that it will pay for the goods on behalf of t he buyer if the buyer does not pay. This guarantee is called Letter of Credit.Thus the contract between importer and exporter is given a legal shape by the banker by Letter of Credit. 4. 2. 1. 1Letter of Credit Definition A letter of credit is a letter issued by a bank (know as the opening or the issuing bank) at the instance of its customer (known as the ruiner) address to a person (beneficiary) undertaking that the bills drawn by the beneficiary will be duly honored by it (opening bank) provided certain conditions mentioned in the letter gave been complied with. Table- 03 ImporterWho applies for L/C Issuing BankIt is the bank which opens/issues a L/C on behalf of the importer. substantiating Bank It is the bank, which adds its confirmation to the credit and it, is done at the request of issuing bank. Confirming bank may or may not be advising bank. Advising or Notifying Bank It is the bank through which the L/C is advised to the exporters. This bank is actually situated in expor ters country. It may also assume the role of confirming and / or negotiating bank depending upon the condition of the credit. Negotiating Bank It is the bank, which negotiates the bill and pays the amount of the beneficiary. The advising bank and the negotiating bank may or may not be the same.Sometimes it can also be confirming bank. Accepting BankIt is the bank on which the bill will be drawn (as per condition of the credit). Usually it is the issuing bank. Reimbursing BankIt is the bank, which would reimburse the negotiating bank after getting payment instructions from issuing bank. 4. 2. 1. 3 Steps for import L/C Operation 8 steps operation Step 1 Registration with CCI&E For engaging in international trade, every bargainer must be first registered with the Chief Controller of Import and Export. By paying specified registration fees to the CCI&E. he trader will get IRC/ERC (Import/Export Registration Certificate), to open L/C with bank, this IRC is must. Step 2 Determinatio n terms of credit The terms of the letter of credit are depending upon the contract between the importer and exporter. The terms of the credit specify the amount of credit, telephone and address of the beneficiary and opener, tenor of the bill of exchange, period and mode of expedition and of destination, nature of credit, expiry date, name and number of sets of shipping documents etc. Step 3 Proposal for Opening of L/C To have an import LC limit an importer submits an application to department to NCC BANK.The design contains the following particulars Full particulars of the bank account Nature of business Required amount of limit Payment terms and conditions Goods to be imported Offered security refund schedule Step 4 Application by importer to the banker to open letter of credit For opening L/C, the importer is required to fill up a irrefutable application form provided by the banker along with the following documents Table- 04 1. L/C Application form 7. Authority to debit account 2. Filled up LCA form 8. Filled up amendment request Form 3. Demand Promissory lineage 9. IMP form 4. ro-forma invoice 10. Insurance cover note and money receipt. 5. levy Identification number 11. Membership certificate 6. Import registration certificate 12. Rate fluctuation undertaking Step 5 Opening of L/C by the bank for the opener Taking filled up application form from the importer. Collects credit report of exporter from exporters country through his foreign proportion there. Opening bank then issues credit by air mail/TELEX/SWIFT followed by L/C advice as asked by the opener through his foreign correspondent or branch as the case may be, at the place of beneficiary.The advising bank advises the L/C to the beneficiary on his own form where it is addressed to him or merely hand over the original L/C to the beneficiary if it is so addressed. Step 6 expedition of goods and lodgment of documents by exporter Then exporter ships the goods to the destination of the impor ter country. Sends the documents to the L/C opening bank through his negotiating bank. Generally the following documents are sent to the Opening Banker with L/C Table- 05 1. Bill of Exchange 6. Packing List 2. Bill of Lading 7. Advice Details of Shipment 3. Commercial accounting 8. Pre-shipment Inspection Certificate . Certificate of Origin 9. Vessel Particular 5. A certificate stating that each packet contains the description of goods over the packet. 10. Shipment Certificate Step 7 Lodgment of Documents by the opening Bank from the negotiating bank After receiving the documents, the opening banker scrutinizes the documents. If any discrepancy found, it informs the importer. If importer accepts the fault, then opening bankers call importer retiring the document. At this time many thing can happen. These are indicated in the following Discrepancy found but the importer accepts no problem occurs in lodgment. Discrepancy found and importer not agreed to accept In this case, import er protest and send back all the documents to the exporter and request his to make in the specified manner. Here banker is not bound to pay because the documents send by exporter is not in accordance with the terms of L/C. Documents are OK but importer is willing to retire the documents In this case bank is obligated to pay the legal injury of exported goods. Since importer did not pay for bill of exchange, this payment by bank is one kind of credit to the importer and this credit in banking is known as PAD. Everything is O. K. but importer fails to clear goods from the port and request bank to clear In this case banks clear the goods and takes delivery of the same by paying customs duty and sales tax etc. So, this expenditure is debited to the importers account and in banking it is called LIM. Step 8 Retirement The importer receives the intimation and gives necessary instruction to the bank for retirement of the import bills or for the disposal of the shipping document to clear the imported goods from the customs authority.The importer may instruct the bank to retire the documents by debiting his account with the bank or may ask for LTR (Loan against Trust Receipt). 4. 2. 1. 4 Accounting Procedure in case of L/C Opening When the officer thinks fit the application to open a L/C, giving the following entries- creates the following charges- Table- 06 ParticularsDebit/ CreditCharges in Taka Customers A/CDebit L/C Margin A/CCredit Commission A/C on L/CCredit50% VATCredit15% on commission SWIFT ChargeCredit3000/= DatamaxCredit1000/= StampCredit150/= PostageCredit300/= DHL/CourierCredit1500 4. 2. 1. Amendment of L/C After opening of L/C some times renewing to the original terms and conditions become necessary. These amendments involve changes in a. Unit price b. Extension of validity o the L/C c. Documentary requirements etc. Such amendments can be affected only if all the concerned parties agree i. e. the beneficiary, the importer, the issuing bank and the a dvising bank. For any amendment the importer must request the issuing bank in writing duly supported by revised indent/ Proforma invoice. The issuing bank then advises the required amendment to the advising bank.L/C amendment commission including postage is charged to the clients A/C. 4. 2. 1. 6 Loan against Trust Receipts (LTR) Advance against a Trust Receipt obtained from the Customers are allowed to only first class tested parties when the documents covering an import shipment or other goods pledged to the Bank as security are given without payment. However, for such advances prior permission/sanction from Head Office must be obtained. The customer holds the goods or their sale-proceeds in trust for the Bank, till such time, the loan allowed against the Trust Receipts is fully paid off. The Trust Receipt is a document that creates the Bankers lien on the goods and practically amounts to hypothecation of the proceeds of sale in discharge of the lien. 4. 2. 1. 7Loan Against Impor ted Merchandise (LIM) Advance (Loan) against the security of merchandise imported through the Bank may be allowed either on pledge or hypothecation of goods, retaining margin prescribed on their Landed Cost, depending on their categories and Credit obstruction imposed by the Bangladesh Bank. Bank shall also obtain a letter of undertaking and indemnity from the parties, before getting the goods cleared through LIM Account. 4. 2. 1. Payment Procedure of Import Documents This is the most sensitive task of the Import Department. The officials have to be very much careful while making payment. This task constitutes the following Date of Payment Usually payment is made within seven days after the documents have been received. If the payment is become deferred, the negotiating bank may claim interest for making delay. Preparing Sale Memo A sale memo is made at B. C rate to the customer. As the T. T & O. D rate is paid to the ID, the residue between these two rates is exchange trading. Finally, an Inter Branch Exchange Trading Credit Advice is sent to ID. Requisition for the Foreign Currency For arranging necessary fund for payment, a requisition is sent to the International Department. Transmission of Message Message is transmitted to the correspondent bank ensuring that payment is being made. 4. 3. 2 B) merchandise 4. 3. 2. 1Understanding The goods and services sold by Bangladesh to foreign households, businessmen and Government are called export. The export trade of the country is regulated by the Imports and Exports (control) Act, 1950. There are a number of formalities, which an exporter has to fulfill before and after shipment of goods.The exports from Bangladesh are subject to export trade control exercised by the Ministry Of Commerce through Chief Controller of Imports and Exports (CCI & E). No exporter is allowed to export any commodity permissible for export from Bangladesh unless he is registered with CCI & E and holds valid Export Registration Certif icate (ERC). The ERC is required to be regenerate every year. The ERC number is to be incorporated on EXP forms and other documents connected with exports. 4. 3. 2. 2 The formalities and procedure of Export L/C 1. Obtaining exports LC To get export LC form exporter issued by the importer. . Submission of export documents Exporter has to submit all necessary documents to the collecting bank after shipping of goods 3. Checking of export documents After getting the documents banker used to check the documents as per LC terms 4. Negotiation of export documents If the bank accepts the document and pays the value draft to the exporter and forward the document to issuing bank that is called a negotiating bank. If the bank does buy the LC then the bank normally acts as collecting bank. 5. Realization of proceeds This is the period when the issuing bank has realized the payment. 6.Reporting to the Bangladesh bank As per instruction by Bangladesh bank the bank has to report to respective depa rtment of Bangladesh bank by mentioning latest payment. 7. Issue to proceeds realization certificate (PRC) Bank has to issue proceed realization certificate of export LC to the supplier / exporter for getting cash assistance 4. 3. 2. 4Back-To-Back L/C It is simply issued to the clients against an import L/C. Back-to-Back mechanism involves two separate L/C. One is master Export L/C and another is Back-to-Back L/C. On the strength of passe-partout Export L/C bank issues bank to Back L/C.Back-to-Back L/C is commonly known as Buying L/C. On the contrary, Master Export L/C is known as Selling L/C. 4. 3. 2. 5 Features of Back to Back L/C An Import L/C to procure goods /raw materials for further processing. It is opened based on Export L/C. It is a kind of Export Finance. Export L/C is at Sight but back to Back L/C is at Usance. No margin is required to open Back to back L/C Application is registered with CCI&E Applicant has bonded warehouse license. L/C value shall not exceed the admis sible percentage of net FOB value of copulation Master L/C. Usance period will be up to 180 days. The import L/C is opened for 75% of the value of Export L/C. Here L/C issued against the lien of export L/C. Arrangements are such that export L/C matures first then out of this export profit, import L/C is paid out. 3. 3. 2. 6 Documents Required for Opening a Back-to-back L/C In NCC BANK Principal Branch, following papers/ documents are required for opening a back-to-back L/C- 1. Master L/C 2. Valid Import Registration Certificate (IRC) and Export Registration Certificate (ERC) 3. L/C Application and LCAF duly filled in and signed 4. Proforma Invoice or Indent 5.Insurance Cover Note with money receipt 6. IMP Form duly signed In addition to the above documents, the followings are also required to export oriented invest industries while requesting for opening a back-to-back L/C 1. Textile Permission 2. Valid Bonded Warehouse License 3. Quota Allocation Letter issued by the Export Pro motion Bureau (EPB) in favor of the applicant for quota items. Payment of back to back l/c In case back to back as 60-90-120-180 days of maturity period, deferred payment is made. Payment is given after realizing export proceeds from the L/C issuing bank. 4. 3. 2. Negotiation of Export Documents Negotiation stands for payment of value to the exporter against the documents stipulated in the LC. If documents are in order, NCC BANK purchases (negotiates) the same on the basis of banker- customer relationship. This is known as Foreign Documentary Bill Purchase (FDBP). If the bank is not satisfied with the documents submitted to NCC BANK gives the exporter reasonable time to remove the discrepancies or sends the documents to L/C opening bank for collection. This is known as Foreign Documentary Bill for Collection (FDBC) entered into the Foreign bill Purchased (F.B. P) register. The documents are sent to the L/C opening Presentation of export documents for negotiation/Purchase After shi pment, exporter submits the following documents to NCC BANK for negotiation. Bill of exchange Bill of Lading Invoice Insurance Policy/Certificate Certificate of Origin Inspection Certificate Consular Invoice Packing List