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1. INTRODUCTION
2. DOCUMENTS USED IN COMMERCIAL TRANSACTIONS
3. CREDIT AND DEBIT NOTES
4. METHODS OF PAYMENT
5. STATEMENT OF ACCOUNT
6. MAJOR TYPES OF FINANCIAL INSTITUTIONS
7. MAJOR SERVICES PROVIDED BY HIGH STREET BANKS
8. GOOD COMMERCIAL PRACTICE – KEY TAKEAWAYS
9. QUICK EXAM NUMBERS & FACTS – MEMORISE THESE
10. FINAL MEMORY CHECKLIST
6. MAJOR TYPES OF FINANCIAL INSTITUTIONS
6.1 High Street Banks
- Established banks are sometimes called clearing banks or joint stock banks.
- Transport operators have a choice of banks with which to place business accounts.
6.2 Merchant Banks
- Merchant banks provide services to businesses for major financial projects.
- Examples include arranging issues of new shares and raising capital for takeovers and mergers.