PORTER’S FIVE FORCES OF COMPETITIVE ADVANTAGE

PORTER’S FIVE FORCES OF COMPETITIVE ADVANTAGE

Michael Eugene Porter (born May 23, 1947)is the Bishop William Lawrence University Professor at. He is a leading authority on company strategy and the competitiveness of nations and regions. Michael Porter’s work is recognized in many governments, corporations and academic circles globally. He chairs Harvard Business School's program dedicated for newly appointed CEOs of very large corporations.

Five forces of competitive advantage are proposed by Michael E. Porter of Harvard Business School in 1979. It is a well-known model for industry analysis and business strategy development. This model is used to know the attractiveness and profitability of the industry. Porter’s model includes the following elements.

The Threat of New Entrants:
In an industry, which has profitability is attractive for new business entry. A huge number of businesses in any industry increase the competition and decrease profitability. There are some factors on which new entry in any industry depends.
Initial investment
Regulatory barriers.
Market barriers
Environmental barriers

Bargaining Power of Buyers:
Buyer’s main intention is to receive the product at lowest price but highest quality. Industry condition enables or disables buyers to bargain. Following factors can be influencing in increasing or decreasing bargaining power of buyers. The higher bargaining power of buyer ensure high competitive industry condition.
Buyer volume
Buyer switching costs relative to firm switching costs
Buyer information availability
Availability of existing substitute products
Buyer price sensitivity

Bargaining power of suppliers:
Bargaining power of suppliers also has effect on competitiveness of any industry. Following factors have effect on bargaining power of supplier.
Demand for the raw materials
Availability of raw materials
Presence of substitute inputs
Strength of distribution channel
Rivalry among existing competitors:

For most industries, the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.
Sustainable competitive advantage through innovation
Competition between online and offline companies
Level of advertising expense
Powerful competitive strategy

Threat of substitute products or services:
Availability of substitute products gives additional bargaining power to buyers and affects the competitiveness of the industry.
Buyer propensity to substitute
Relative price performance of substitute
Buyer switching costs
Perceived level of product differentiation
Number of substitute products available in the market
Ease of substitution

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A proposal of Dissertation on James Joyce’s treatment of Modernism with special reference to A Portrait of the Artist as a Young Man

James Joyce is one of the most important modernist writers who is also considered as a famous psycho – analyst. His A Portrait of the Artist as a Young Man is one of the important works of modern age. James Joyce’s A Portrait of the Artist as a Young Man is a semi – autobiographical chronicle of Stephen Dedalus’ odyssey from a student to an independent artist. A key example of Bildungsroman and religio – philosophical awakening of young Stephen Dedalus as he begins to question and rebel against the catholic and Irish conventions he is required to live with. He seeks independence by escaping from Ireland where he finds nothing himself to grow as an artist. Clearly, it is a novel about a young man’s gradual attainment of maturity and self consciousness facing a troubled and almost meaningless life in his home country. A Portrait of the Artist as a Young Man is a premier modernist work with its stylistic experimentations and technical innovations. It is, indeed a great work by a great writer.

This novel introduced us with different modernist aspects which touched me even it pushed me to think deeply and differently about literary world. That’s why I am very much interested to do my dissertation on the basis of this very interesting topic

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Differences between Vision and Mission

Differences between Vision and Mission

Introduction:
Vision and Mission are the inspiring words chosen by successful leaders to clearly and concisely convey the direction of the organization. By crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future. A Mission Statement defines the organization's purpose and primary objectives. Vision Statements also define the organizations purpose, but this time they do so in terms of the organization's values rather than bottom line measures The vision statement communicates both the purpose and values of the organization.

Vision:
Vision is a picture or mental image of what the organization should look like in the future.
Vision should describe a set of ideals and priorities, a picture of the future, a sense of what makes the company special and unique, a core set of principles that the company stands for, and a broad set of compelling criteria that will help define organizational success

Mission:
Missions are targets that focus on finishing the task.
A mission describes the organization’s basic function in society, in terms of the products and services it produces for its customers. Good missions are highly personalized- unique to the organization for which they are developed.

Goal
Goals are broad, general statements of intent.
Goal is the milestone the organization aims to achieve that evolves from the strategic issues. They transform strategic issues into specific performance targets that impact the entire organization. They can be qualitative or quantitative dependent upon usage.

Objective
Objectives are specific result or targets to be reached by a certain time.
Objectives are used to operationalize the mission statement. That is, they help to provide guidance on how the organization can fulfill or move toward the “high goals” in the goal hierarchy-the mission and vision. As a result, they tend to be more specific and cover a more well-defined time frame.

Differences between Goal and Objective:

 

 

 

 

 

 

 

 

Strategb:
Strategy is a kind of game plan. Strategy is kind of technique or tactics to achieve organizational goals.
Strategy is the direction and scope of an organization over the long-term: which achieves advantage for the organization through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations.

The business strategy of a company provides the big picture that shows how all the individual activities are coordinated to achieve a desired end result. It is through the strategy process that the overall direction of the business is set.

Southeast Bank Limited:
Southeast Bank Limited was established in 1995 with a dream and a vision to become a pioneer banking institution of the country and contribute significantly to the growth of the national economy. The Bank was established by leading business personalities and eminent industrialists of the country with stakes in various segments of the national economy. The incumbent Chairman of the Bank is Mr. Alamgir Kabir, FCA, a professional Chartered Accountant. Mr. M. A. Kashem a member of the Board and Mr. Yussuf Abdullah Harun were past Presidents of the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI).

Vision of Southeast Bank Limited
• To be a premier banking institution in Bangladesh and contribute significantly to the national economy.
Missions of Southeast Bank Limited
• High quality financial services with state of the art technology
• Fast customer service
• Sustainable growth strategy
• Follow ethical standards in business
• Steady return on shareholders’ equity
• Innovative banking at a competitive price
• Attract and retain quality human resource
• Commitment to Corporate Social Responsibility
Goal of Southeast Bank Limited
• To provide best product and services to customers and make the bank reliable to all the clients.

Objectives of Southeast Bank Limited
• Integrity
• Respect
• Fairness
• Harmony
• Team spirit
• Courtesy

Strategies of Southeast Bank Limited
After analyzing all the available information, we think that, Southeast Bank Limited should follow Growth Strategy. Growth strategy is based on investing in companies which are growing faster than others in the same industry. Southeast Bank Limited has a large amount of market share in bank sector and market growth rate also high. According to Boston Consulting Group (BCG) matrix, Southeast Bank Limited is in the star position. So, it can follow growth strategy. On the other hand, Southeast Bank Limited can also follow Differentiation Strategy. Differentiation Strategy is a business strategy in which a company tries to gain a competitive advantage by providing a unique product or service, or providing a unique brand of customer service. Southeast Bank Limited can attract clients by providing different types of schemes which will differentiate them from different bank. So, Southeast Bank Limited can also follow differentiation strategy.

First Security Islami Bank Limited
First Security Islami Bank Limited (FSIBL) was incorporated in Bangladesh on 29 August 1999 as a banking company under Companies Act 1994 to carry on banking business. It obtained permission from Bangladesh Bank on 22 September 1999 to commence its business. The Bank carries banking activities through its Fifty Three (53) branches in the country. The commercial banking activities of the bank encompass a wide range of services including accepting deposits, making loans, discounting bills, conducting money transfer and foreign exchange transactions, and performing other related services such as safe keeping, collections and issuing guarantees, acceptances and letter of credit.

Vision of First Security Islami Bank Limited
• To be the unique modern Islami Bank in Bangladesh and to make significant contribution to the national economy and enhance customers' trust & wealth, quality investment, employees' value and rapid growth in shareholders' equity.

Missions of First Security Islami Bank Limited
• To be the most caring and customer friendly and service oriented bank.
• To create a technology based most efficient banking environment for its customers.
• To ensure ethics and transparency in all levels.
• To ensure sustainable growth and establish full value of the honorable shareholders and
• Above all, to add effective contribution to the national economy.

Goal of First Security Islami Bank Limited
• To exceed customer expectations through innovative Islamic financial products & services and establish a strong presence to recognize shareholder’s expectation and optimize their rewards through dedicated work force.

Objectives of First Security Islami Bank Limited
• To manage & operate the bank in the most effective manner.
• To strive our customers best satisfaction & win their confidence.
• To ensure a congenial working environment.
• To diversify portfolio in both retail & wholesale markets.

Strategies of First Security Islami Bank Limited
After analyzing all the available information, we think that, First Security Islami Bank Limited should follow Growth or Joint Venture Strategy. Growth strategy is based on investing in companies which are growing faster than others in the same industry. A joint venture is a business agreement in which parties agrees to develop, for a finite time, a new entity and new assets by contributing equity. First Security Islami Bank Limited has a small amount of market share in bank sector but market growth rate is high. According to Boston Consulting Group (BCG) matrix, First Security Islami Bank Limited is in the question mark or problem child position. So, we think, it should follow Growth or Joint Venture Strategy. On the other hand, First Security Islami Bank Limited can also follow Cost Leadership Strategy. Cost Leadership strategy is a business strategy in which a company tries to provide a product at a lower cost than any of its competitors. By using cost leadership strategy, First Security Islami Bank Limited can reduce their cost and increase profit. So it can also follow cost leadership strategy.

Organization Structure
An organizational structure consists of activities such as task allocation, coordination and supervision, which are directed towards the achievement of organizational aims. It can also be considered as the viewing glass or perspective through which individuals see their organization and its environment. Organizational structure affects organizational action in two big ways. First, it provides the foundation on which standard operating procedures and routines rest. Second, it determines which individuals get to participate in which decision-making processes, and thus to what extent their views shape the organization’s actions.

Importance of Organizational Structure
Good organizational structure helps improve communication, increase productivity, and inspire innovation. It creates an environment where people can work effectively. Most productivity and performance issues can be attributed to poor organizational design. Poor organizational design often results in, among other things, confusion within roles, a lack of coordination among functions, and failure to share ideas. A company can have a clear mission, talented people, and great leaders, and still not perform well because of poor organizational design. To be effective, the overall organization design must be aligned with the business strategy and the market environment in which the business operates. It must also have the right business controls, the right flexibility, the right incentives, the right people, and the right resources.

Types of Organization Structure: (1)Functional Organization Structure:

 

 

 

 

 

 

Organization Chart of Southeast Bank Limited

 

 

 

 

 

 

 

 

 

 

 

Consolation:

A vision and mission is not only for investors and for lenders but it also helps you to achieve your business goals in the best possible way. Writing the good vision and mission statement is not an easy task. Make sure that your vision and mission statements must be realistic and relevant to your business. Try to make it passionate and inspiring. For example, the mission statement of the famous brand NIKE is: CRUSH REEBOK. The mission and vision statement must be similar to your competitors. On the other hand, the right organizational structure can play an important role in an organization's evolution. By analyzing all mission, vision, goal, objective, strategy and organization structure of Southeast Bank Limited and First Security Islami Bank Limited, we can say that, these are important in their success in banking industry.

Business & international business

PARAGON
Business & international business:
International Business is a specific that
engages in business among multiple

countries
International Trade Theory
Buy low, sell high
Why do nations trade what they do?
Is trade a good thing

Options for doing business
Exporting goods and services.
Giving license to produce goods in the host country.
Starting a joint venture with a company.
Opening a branch for producing & distributing goods in the host country.
Providing managerial services to companies in the host country.

Theories for International Business
ü Comparative advantage theory
ü Absolute advantage theory
ü Perfect & imperfect Market theory

Theory of Comparative Advantage
a) Origin of Comparative Theory
b) Allow firm to penetrate foreign market
c) Make efficient for particular goods and services
d) Example

Theory of Absolute Advantage
Main concept come from Adam Smith
Absolutely more productive than another entity in the production of a good
Example

Practical example of Absolute Advantage


Theory of Perfect & imperfect Market
Definition of perfect market
Definition of imperfect market

Specific characteristics of perfect market
a) Infinite buyers and sellers
b) Zero entry and exit barriers
c) Perfect factor mobility
d) Perfect information
e) Zero transaction costs
f) Homogeneous products

Theory of Product Cycle
A firm initially establish itself locally
expand into foreign markets in response to foreign demand
Benefits of PLC Theory
PLC model gives managers the ability to forecast product directions
The PLC model can also be used as an explanatory tool in facilitating an understanding of past and future sales progression.
The PLC model is advantages in planning long-term offensive marketing strategies.

Diplomatic Agent, Diplomatic Servant and Consuls

Diplomatic Servants:
According to articles 29 to 35 of Vienna Convention of Diplomatic Relation, 1961 provided that if the servants are not the citizen of receiving state they would entitle to the privilege and immunities.

Can a Diplomatic agent waive or lose his immunity:
If he is called as a witness in a court of law and instead of claiming his immunity, he presents himself unconditionally in the court, it will be deemed that he was waived his immunity. He will thus lose his immunity. In such a case he cannot subsequently claim the immunity which he waived.

Consuls:
Consuls are the representatives of their States but they are not diplomatic agents. Their main function is to look after the commerce and trade interests of their countries. In recent years, the activities of the consuls have increased manifold. In view of the important function that they perform a Convention was adopted at Vienna on April 24, 1963.

Classification of Consuls:
i. Consuls-General
ii. Consuls
iii. Vice-Consul
iv. Consul-Agents

Functions of the Consul:
1. They protect the commercial interest of their States.
2. They supervise and look after shipping, etc. of their countries.
3. They look after the interests of their citizens and assist them in getting passport etc.
4. They perform certain other functions for the citizens of their States such as to testify signatures, registration of marriage, birth, death etc.

Rights and Immunities of Consuls:
As pointed out earlier, Consuls are not diplomatic agents. Therefore, they are not entitled to the immunities and privileges of the diplomatic agents. But such immunities and privileges may be conferred upon them on the basis of bilateral treaties or on the basis of reciprocities. Because of the increasing importance of trade and commerce in the modern time, generally the Consuls are also given the same immunities and privileges as are enjoyed by the diplomatic agents.

Termination of Diplomatic Mission:
a) Recall of Envoy
b) Notification in regard to envoys functions
c) On the request of the receiving State
d) By delivery of passport
e) Persona-non-gratia
f) End of the object of the mission
g) Expiration of the Letter of Credence

Can a state refuse to accept Diplomatic Agent:
1. if the diplomatic agent is considered harmful for the receiving state.
2. if the diplomatic agent has by his declaration or conduct, done some inimical thing.
3. if he is a citizen of receiving state.

Special mission of Permanent nature:
Sometimes states may also appoint diplomatic agents for special mission.

THE NEGOTIABLE INSTRUMENTS LAW

INTERPRETATION
Must be payable to order or to bearer. Must contain an unconditional promise or order to pay It must be in writing and signed by the maker or drawer Must be payable on demand, or at a fixed or determinable future time Where the instrument is addressed to a named or otherwise indicated therein with reasonable certainty.

What constitutes certainty as to sum
The sum payable is a sum certain within the meaning of this although it is to be paid With interest by stated installments by stated installments, with a provision that, upon default in payment of any installment or of interest, the whole shall become due with exchange, whether at a fixed rate or at the current rate with costs of collection or an attorney's fee, in case payment shall not be made at maturity.

Determinable future time; what constitutes
An unqualified order or promise to pay is unconditional within the meaning of this though coupled with An indication of a particular fund out of which reimbursement is to be made or a particular account to be debited with the amount

A statement of the transaction which gives rise to the instrument.
But an order or promise to pay out of a particular fund is not unconditional.

When promise is unconditional
An instrument is payable at a determinable future time, within the meaning of this Act, which is expressed to be payable On or before a fixed or determinable future time specified therein On or at a fixed period after the occurrence of a specified event which is certain to happen, though the time of happening be uncertain.

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Definition of Negotiable instruments

Definition of Negotiable Instruments:
The Word Negotiable Means Transferable By Delivery, Word Instrument Means A Written Document By Which Some Person Thus The Term Negotiable Instrument Literally Means A Written Document Transferable By Delivery According The Negotiable Instruments Act A Negotiable A Promissory Note Bill Of Exchange Payable Either More Or One Or Some Of Several Payees.

History
Common prototypes of bills of exchanges and promissory notes originated in China. Here, in the 8th century during the reign of they used special instruments the safe transfer of money over long distances. Later such document for money transfer used by Arab merchants, centuries bill of exchange and promissory note obtain their main features and further phases of its development have been associated with and Germany. In Exchange Law was different from continental Europe because of different legal systems

NEGOTIABLE INSTRUMENT
(a) Except as provided in subsections.
(c) And
(d) negotiable instrument means an unconditional promise or order to pay a fixed amount of money,
(1) is payable to bearer or to order, at the time it is issued or first comes into possession of a holder.
(2) is payable on.
(3) does not state any other undertaking or instruction by the person promising or ordering payment to do any act in addition to the payment of money, but the promise or order may contain.

Negotiation and endorsement
Persons other than the original obligor and obligee can become parties to a negotiable instrument. if the person who signs does so with the intention of obtaining payment of the instrument or acquiring or transferring rights to the instrument, the signature is called an endorsement (i) an undertaking or power to give, maintain, or protect collateral to secure payment. (ii) an authorization or power to the holder to confess judgment or realize on or dispose of collateral. (iii) a waiver of the benefit of any law intended for the advantage or protection of an obligor. An endorsement which purports to transfer the instrument to a specified person is a special endorsement – for example an endorsement by the payee or holder which does not contain any additional notation thus purporting to make the instrument payable to bearer is an endorsement in blank. An endorsement which purports to require that the funds be applied in a certain manner is a restrictive endorsement; and an endorsement purporting to disclaim retroactive liability is called a qualified endorsement through the inscription of the words without recourse as part of the endorsement on the instrument or in allonge to the instrument. An endorsement purporting to add terms and conditions is called a conditional endorsement for example. (1) Forgery of the instrument. (2) Fraud as to the nature of the instrument being signed (3) alteration of the instrument (4) incapacity of the signer to contract (5) infancy of the signer (6) duress (7) discharge in bankruptcy and, (8) the running of a statute of limitations as to the validity of the.

Thus, for a writing to be a negotiable instrument under Article.

Objectives of Negotiable Instruments
· After studying this lesson, you will be able to.
· Explain the meaning of negotiable instruments.
· Identify the various features of negotiable instruments.
· Describe the various types of negotiable instruments.
· Differentiate between bills of exchange, promissory notes.
(a) Except as provided in subsections. (b) Instrument means a negotiable instrument. (c) An order that meets all of the requirements of subsection. (d) except paragraph. (e) and otherwise falls within the definition of "check" in subsection (f) is a negotiable instrument and a check. (g) A promise or order other than a check is not an instrument if, at the time it is issued or first comes into possession of a holder, however expressed, to the effect that the promise or order is not negotiable or is not an instrument governed by this Article.

Thus, for a writing to be a negotiable instrument under Article

Features of Negotiable Instruments
After discussing the various types of negotiable instruments let us sum up their features. A when we transfer any property to somebody, we are required to make a transfer deed, get it registered, pay stamp duty. But, such formalities are not required while transferring a negotiable instrument. The ownership is changed by mere delivery or by valid endorsement and delivery when payable to order. However, (i) The promise or order to pay must be unconditional. (ii) The payment must be a specific sum of money. (iii) The payment must be made on demand or at a definite time. (vi) The instrument must not require the person promising payment to perform any act other than paying the money specified. (vii) The instrument must be payable to bearer or to order.

The title of the receiver will be absolute, only if he has got the instrument in good faith and for a consideration. Also the receiver should have no knowledge of the previous holder having any defect in his title. Such a person is known as holder in due course. If Girish received it in good faith and for value and without knowledge of cheque having been stolen, he will be entitled to receive the amount of the cheque. Here Girish will be regarded as. A negotiable instrument must be in writing. This includes handwriting, typing, computer print out and engraving. In every negotiable instrument there must be an unconditional order or promise for payment. The instrument must involve payment of a certain sum of money only and nothing else. For example, one cannot make a promissory note on assets, securities, or goods. The time of payment must be certain. It means that the instrument must be payable at a time.

THE NEGOTIABLE INSTRUMENTS LAW
What constitutes certainty as to sum: The sum payable is a sum certain within the meaning of this Act, although it is to be paid. (a) At a fixed period after date or sight (b) On or before a fixed or determinable future time specified therein (c) On or at a fixed period after the occurrence of a specified event which is certain to happen, though the time of happening be uncertain.

An instrument to be negotiable must conform to the following requirements: (a) It must be in writing and signed by the maker or drawer (b) Must contain an unconditional promise or order to pay a sum certain in money (c) Must be payable on demand, or at a fixed or determinable future time (d) Must be payable to order or to bearer (e) Where the instrument is addressed to a drawee, he must be named or otherwise indicated therein with reasonable certainty.

Essentials of a Promissory Note
1. It must be in writing
2. It must contain a Promise or undertaking to pay.
3. The promise to pay must be unconditional
4. It must be signed by the maker.
5. The maker must be a certain person.
6. The payee must be certain.
7. The sum payable must be certain.
8. The amount payable must be in legal tender money of india.
9. Other formalities.

Distinction between a pro note and a bill
1. Number of parties
2. The maker of note can not be the payee.
3. Promise to order
4. Acceptance
5. Nature of liability
6. Makers position
7. Payable of the bearer
8. Notice of dishonor
9. Applicability of certain Provisions.

Accommodation bill:
An accommodation bill is apparently quite similar to an ordinary trade bill of exchange, the special feature which distinguishes it from an ordinary bill is that such a bill is not supported by any consideration or a trading transaction. Thus the relationship between the drawer and the drawee is not that of a creditor and a debtor in the case of an accommodation bill.

Fictitious bill
When in a bill of exchange the name of both the drawer and the pave are fictitious the bill is said to be a fictitious bill Such a bill is drawn in a fictitious name and is made payable to the drawer’s and as such the name of both the drawer and the payee are said to be of a fictitious person

Documentary Bill
When documents relating to the goods represented by bill eg bill of lading or railway receipt invoice marine insurance policy etc are attached to bill is called is called a documentary bill such documents are delivered to the buyer only on acceptance or payment of the bill.

Special Benefits of Bill of Exchange
The special benefits of using bills of exchange in the world of commerce are as follows
1. A bill of exchange is a double secured instrument If the bill is dishonored by the acceptor, the holder or the payee may look to the drawer of the bill for payment.
2. In case of immediate need of money a bill can be discounted with a bank by the payee.
Tow separate trade debts can be discharged by a bill of exchange Hence where A busy goods on credit from B months after date and B buys goods on credit from C on similar terms for similar amount an order by B to A pay the sum of tow separate trade debts 

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Applicable of negotiable instrument in Bangladesh

AKNOWLEDGMENT

In this assignment provides the idea about in Applicable of negotiable instrument in Bangladesh. I’ve learn a lot of things about this topic doing this assignment.

So, I would like to thank our honorable teacher, I also want to thank him for her guidance in completion of this assignment.

At last but not least, I’m going to specially thank to Allah for giving us the capability in completing this assignment.

Definition of negotiable instrument:

A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time. According to the Section of the Negotiable Instruments Act, in India, a negotiable instrument means a promissory note, bill of exchange or cheque payable either to order or to bearer. So, there are just three types of negotiable instruments such as promissory note, bill of exchange and cheque. Cheque also includes Demand.

More specifically, it is a document contemplated by a contract, which.

(1) warrants the payment of money, the promise of or order for conveyance of which is unconditional.
(2) specifies or describes the payee, who is designated on and memorialized by the instrument and.
(3) is capable of change through transfer by valid negotiation of the instrument.
As payment of money is promised subsequently, the instrument itself can be used by the holder in due course as a store of value although, instruments can be transferred for amounts in contractual exchange that are less than the instrument’s face value. Under United States law, Article of the Uniform Commercial Code as enacted in the applicable State law governs the use of negotiable instruments, except banknotes.

Classes:
Promissory notes and bills of exchange are two primary types of negotiable instruments.

Promissory note:
A promissory note is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand to the payee, or at fixed or determinable future time, certain in money, to order or to bearer. Bank note is frequently referred to as a promissory note, a promissory note made by a bank and payable to bearer on demand.

Bill of exchange:
A bill of exchange or ‘draft’ is a written order by the drawer to the drawer to pay money to the payee. A common type of bill of exchange is the cheque check in American English, defined as a bill of exchange drawn on a banker and payable on demand. Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. Prior to the advent of paper currency, bills of exchange were a common means of exchange. They are not used as often today. A bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at fixed or determinable future time a sum certain in money to order or to bearer.

The person who draws the bill is called the drawer. He gives the order to pay money to the third party. The party upon whom the bill is drawn is called the drawee. He is the person to whom the bill is addressed and who is ordered to pay. He becomes an acceptor when he indicates his willingness to pay the bill. The party in whose favor the bill is drawn or is payable is called the payee.

It is essentially an order made by one person to another to pay money to a third person.
A bill of exchange requires in its inception three parties the drawer, the drawee, and the payee.
The partie’s need not all be distinct persons. Thus, the drawer may draw on himself payable to his own order.

A bill of exchange may be endorsed by the payee in favour of a third party, who may in turn endorse it to a fourth, and so on indefinitely. The ‘holder in due course’ may claim the amount of the bill against the drawee and all previous endorsers, regardless of any counterclaims that may have disabled the previous payee or endorser from doing so. This is what is meant by saying that a bill is negotiable.

In some cases a bill is marked ‘not negotiable see crossing of cheques. In that case it can still be transferred to a third party, but the third party can have no better right than the transferor.
Negotiable instruments distinguished from other types of contracts:
A negotiable instrument can serve to convey value constituting at least part of the performance of a contract, albeit perhaps not obvious in contract formation, in terms inherent in and arising from the requisite offer and acceptance and conveyance of consideration. The underlying contract contemplates the right to hold the instrument as, and to negotiate the instrument to, a holder in due course, the payment on which is at least part of the performance of the contract to which the negotiable instrument is linked. The instrument, memorializing.
(1) the power to demand payment and.
(2) the right to be paid, can move, for example, in the instance of a 'bearer instrument', wherein the possession of the document itself attributes and ascribes the right to payment. The consideration constituted by a negotiable instrument is cognizable as the value given up to acquire it benefit and the consequent loss of value detriment to the prior holder thus, no separate consideration is required to support an accompanying contract assignment. The instrument itself is understood as memorializing the right for, and power to demand, payment, and an obligation for payment evidenced by the instrument itself with possession as a holder in due course being the touchstone for the right to, and power to demand, payment. In some instances, the negotiable instrument can serve as the writing memorializing a contract, thus satisfying any applicable Statute of Frauds as to that contract. Certain exceptions exist, such as instances of loss or theft of the instrument, wherein the possessor of the note may be a holder, but not necessarily a holder in due course. Negotiation requires a valid endorsement of the negotiable instrument.

The holder in due course:
The rights of a holder in due course of a negotiable instrument are qualitatively, as matters of law, superior to those provided by ordinary species of contracts:

· The rights to payment are not subject to set off, and do not rely on the validity of the underlying contract giving rise to the debt for example if a cheque was drawn for payment for goods delivered but defective, the drawer is still liable on the cheque.

· No notice need be given to any party liable on the instrument for transfer of the rights under the instrument by negotiation. However, payment by the party liable to the person previously entitled to enforce the instrument "counts" as payment on the note until adequate notice has been received by the liable party that a different party is to receive payments from then on.

· Transfer free of equities the holder in due course can hold better title than the party he obtains it from as in the instance of negotiation of the instrument from a mere holder to a holder in due course

In addition, the rights and obligations accruing to the transferee can be affected by the rule of derivative title, which does not allow a property owner to transfer rights in a piece of property greater than his own.

Negotiation often enables the transferee to become the party to the contract through a contract assignment provided for explicitly or by operation of law and to enforce the contract in the transferee-assignee’s own name. Negotiation can be effected by endorsement and delivery order instruments, or by delivery alone bearer instruments.

In the Commonwealth:
In the commonwealth almost all jurisdictions have codified the law relating to negotiable instruments in a Bills of Exchange Act, Bills of Exchange Act in the UK, Bills of Exchange Act in New Zealand, The Negotiable Instrument Act in India and The Bills of Exchange Act in Mauritius. The Bills of Exchange Act:

1. defines a bill of exchange as: 'an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer.
2. defines a cheque as: 'a bill of exchange drawn on a banker payable on demand'
3. defines a promissory note as: 'an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person or to bearer.'

Additionally most commonwealth jurisdictions have separate Cheques Acts providing for additional protections for bankers collecting unendorsed or irregularly endorsed cheques, providing that cheques that are crossed and marked 'not negotiable' or similar are not transferable, and providing for electronic presentation of cheques in inter-bank cheque clearing systems.

The Encyclopedia Britannica Eleventh Edition has a comprehensive article on the bill of exchange, detailing its history and operation, as understood at the time of its publication.

In the United States:

In the United States, Article and Article of the Uniform Commercial Code govern the issuance and transfer of negotiable instruments. The various State law enactments of Uniform Commercial Code
(a) through
(d) set forth the legal definition of what is and what is not a negotiable instrument

NEGOTIABLE INSTRUMENT.
(a) Except as provided in subsections
(c) and
(d) negotiable instrument means an unconditional promise or order to pay a fixed amount of money, with or 

without interest or other charges described in the promise or order, if it:
(1) Is payable to bearer or to order at the time it is issued or first comes into possession of a holder
(2) Is payable on demand or at a definite time; and
(3) does not state any other undertaking or instruction by the person promising or ordering payment to do any act in addition to the payment of money, but the promise or order may contain

(i) An undertaking or power to give, maintain, or protect collateral to secure payment,
(ii) An authorization or power to the holder to confess judgment or realize on or dispose of collateral, or
(iii) A waiver of the benefit of any law intended for the advantage or protection of an obligor.
(b) Instrument means a negotiable instrument.
(c) An order that meets all of the requirements of subsection
(a) Except paragraph
(1) And otherwise falls within the definition of check in subsection
(f) is a negotiable instrument and a check.
(d) A promise or order other than a check is not an instrument if, at the time it is issued or first comes into possession of a holder, it contains a conspicuous statement, however expressed, to the effect that the promise or order is not negotiable or is not an instrument governed by this Article.

Thus, for a writing to be a negotiable instrument under Article 3, the following requirements must be met:
1. The promise or order to pay must be unconditional
2. The payment must be a specific sum of money, although interest may be added to the sum
3. The payment must be made on demand or at a definite time
4. The instrument must not require the person promising payment to perform any act other than paying the money specified
5. The instrument must be payable to bearer or to order.
The latter requirement is referred to as the words of negotiability a writing which does not contain the words to the order of within the four corners The only exception is that if an instrument meets the definition of a cheque a bill of exchange payable on demand and drawn on a bank and is not payable to order then it is treated as a negotiable instrument. of the instrument or in endorsement on the note or in allonge or indicate that it is payable to the individual holding the contract document analogous to the holder in due course is not a negotiable instrument and is not governed by Article, even if it appears to have all of the other features of negotiability.

Negotiation and endorsement:
Persons other than the original obligor and obligee can become parties to a negotiable instrument. The most common manner in which this is done is by placing one's signature on the instrument endorsement if the person who signs does so with the intention of obtaining payment of the instrument or acquiring or transferring rights to the instrument, the signature is called an endorsement. There are five types of endorsements contemplated by the Code, covered in

· An endorsement which purports to transfer the instrument to a specified person is a special endorsement for example, Pay to the order of Amy

· An endorsement by the payee or holder which does not contain any additional notation thus purporting to make the instrument payable to bearer is an endorsement in blank or blank endorsement

· An endorsement which purports to require that the funds be applied in a certain manner for deposit only for collection is a restrictive endorsement and,

· An endorsement purporting to disclaim retroactive liability is called a qualified endorsement through the inscription of the words without recourse as part of the endorsement on the instrument or in allonge to the instrument.

· An endorsement purporting to add terms and conditions is called a conditional endorsement for example, Pay to the order of Amy, if she rakes my lawn next Thursday November The UCC states that these conditions may be disregarded.

If a note or draft is negotiated to a person who acquires the instrument

1. in good faith
2. for value
3. without notice of any defenses to payment,

The transferee is a holder in due course and can enforce the instrument without being subject to defenses which the maker of the instrument would be able to assert against the original payee, except for certain real defenses. These real defenses include

(1) forgery of the instrument
(2) fraud as to the nature of the instrument being signed
(3) alteration of the instrument
(4) incapacity of the signer to contract
(5) infancy of the signer
(6) duress
(7) discharge in bankruptcy; and
(8) the running of a statute of limitations as to the validity of the instrument.

The holder in due course rule is a rebut table presumption that makes the free transfer of negotiable instruments feasible in the modern economy. A person or entity purchasing an instrument in the ordinary course of business can reasonably expect that it will be paid when presented to, The foregoing is the theory and application presuming compliance with the relevant law. Practically, the obligor payor on an instrument who feels he has been defrauded or otherwise unfairly dealt with by the payee may nonetheless refuse to pay even a holder in due course, requiring the latter to resort to litigation to recover on the instrument.

and not subject to dishonor by, the maker, without involving itself in a dispute between the maker and the person to whom the instrument was first issued this can be contrasted to the lesser rights and obligations accruing to mere holders. Article of the Uniform Commercial Code as enacted in a particular State’s law contemplates real defenses available to purported holders in due course.

Applicable of negotiable instrument Bangladesh:
Every negotiable instrument shall be governed by the provisions of this Act, and no usage or custom at variance with any such provision shall apply to any such instrument.

A. notwithstanding anything contained in the Code of Criminal Procedure, 1898, no appeal against any order of sentence under sub-section

(1) of section shall lie, unless an amount of not less than fifty per cent of the amount of the dishonored cheque is deposited before filing the appeal in the court which awarded the sentence

Negotiable instrument solution in Bangladesh:
Now a day’s extra judicial killings news is very common in Bangladesh. Although, Killings by law enforcement agencies are common in Bangladesh. In, the paramilitary group Jatiya Rakkhi Bahini came into force and had become infamous for its extrajudicial executions until it was absorbed into the army in Now, since the formation of the elite Rapid Action Battalion in March, such killings are again on the rise and are being categorized under a new vocabulary of crossfire, extrajudicial killings, encounters. This extra judicial killings issue diminish public faith on judicial system of Bangladesh. Now people of Bangladeshis thinking that law enforcement agencies can do anything without justice.

In Bangladesh, the law says minimum force should be applied to arrests and every person has the right to seek a trial. In the cases of crossfire, and encounters, these legal provisions are being totally ignored.

Article of the constitution of Bangladesh states To enjoy and of every other person for the time being within Bangladesh, and in particular no action detrimental to the life, liberty, body, reputation or property of any person shall be taken except in accordance with law.” The constitution’s Article ensures the protection of the right to life and personal liberty in accordance with the law. Because of the consequences of such deprivation, the drafters of the constitution made this specific provision of protection even though these rights were already covered by Article. the protection of law, and to be treated in accordance with law, is the inalienable right of every citizen, wherever he may be, What is implicit in Articles and is the right to access to justice, and it cannot be said that this right has been dealt with in accordance with the law unless a person has a reasonable opportunity to approach the court in vindication of their right or grievance. Even a fugitive is entitled to a legal defence when the death penalty is involved. 

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In The Knowledge Fair

In The Knowledge Fair
A Presentation onForgery of Negotiable Instruments: Precautions to be taken for a secured business transaction

Objectives
Our object is to make you know:-
The meaning of forgery
Punishment of forgery
The forgery of negotiable instrument
What we should do to prevent forgery of the instruments
The meaning of negotiable instruments
The various features of negotiable instruments
The various types of negotiable instruments

Introduction to Negotiable Instruments:
A Negotiable Instrument is a document that meets the requirements for circulation without reference to other sources. The Negotiable Instrument Act, 1881 does not define negotiable instrument, it runs as to that “Negotiable Instrument” means Promissory Note, Bill of Exchange, or Cheque payable either to order or to bearer. Negotiable Instruments are certain types of written documents which are transferable, either by delivery or by endorsement, and are used in commercial transactions and monetary dealings.

Features of Negotiable Instrument:
1. It is easily transferable. It may be transferred by mere delivery in case of bearer instrument and by delivery and endorsement in case of order instrument.2. a holder of a negotiable instrument in due course, that is through full payment A major advantage of a Negotiable Instrument is its transferability, but sometimes transferability is not always characteristic of negotiability. A transferable instruments or goods may not be a negotiable instrument.3. and good faith shall not be liable to a third party having title thereto.

Promissory Note
A “Promissory Note” to order or to bearer. is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand to the payee, or at fixed or determinable future time, certain in money,
Parties to a Promissory Note
There are primarily two parties involved in a promissory note. They are-
i. The Maker or Drawer – the person who makes the note and promises to pay the amount stated therein.
ii. The Payee – the person to whom the amount is payable.

In course of transfer of a promissory note by payee and others, the parties involved may be -
a. The Endorser – the person who endorses the note in favour of another person.
b. The Endorsee – the person in whose favour the note is negotiated by endorsement.

Features of a promissory note
Let us know the features of a promissory note:
A promissory note must be in writing, duly signed by its maker and properly stamped.
It must contain an undertaking or promise to pay. Mere acknowledgement of indebtedness is not enough. For example, if someone writes ‘The promise to pay must not be conditional. For example, if it is written
It must contain a promise to pay money only. For example, if someone writes ‘I promise to give B a Maruti car’ it is not a promissory note. A promissory note may be payable on demand or after a certain date. For example, if it is written ‘three months after date I promise to pay S or order a sum of tk. Five Thousand only’ it is a promissory note.

The parties to a promissory note, i.e. the maker and the payee must be certain.
The sum payable mentioned must be certain or capable of being made certain. It means that the sum payable may be in figures or may be such that it can be calculated.

A Specimen of a Promissory Note
Bill of Exchange
A “Bill of Exchange” is an instrument in writing containing an unconditional order, signed by the maker, a certain person or to the bearer of the instrument. directing a certain person to pay on demand or at fixed or determinable future time a certain sum of money only to, or to the order of,

Parties to a Bill of Exchange
There are three parties involved in a bill of exchange. They are-
i. The Drawer – The person who makes the order for making payment.
ii. The Drawee – The person to whom the order to pay is made. He is generally a debtor of the drawer.
iii. The Payee – The person to whom the payment is to be made.

Features of a bill of exchange
Let us know the various features of a bill of exchange:
The order must be unconditional.
The order must be to pay money and money alone.
The sum payable mentioned must be certain or capable of being made certain.
A bill must be in writing, duly signed by its drawer, accepted by its drawee and properly stamped.
It must contain an order to pay. Words like ‘please pay tk. 5,000/- on demand and oblige’ are not used.
The parties to a bill must be certain.

Specimen of a Bill of Exchange
A “Cheque” is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand.

Features of a cheque
Let us look into some important features of a cheque.
A cheque must be in writing and duly signed by the drawer.
The payee is always certain.
It is always payable on demand.
The cheque must bear a date otherwise it is invalid and shall not be honoured by the bank.
It contains an unconditional order.
It is issued on a specified banker only.
The amount specified is always certain and must be clearly mentioned both in figures and words.

Specimen of a Cheque
Types of Cheque
Cheques are of four types, Let us know details about these cheques:
a) Open cheque: A cheque is called ‘Open’ when it is possible to get cash over the counter at the bank. The holder of an open cheque can do the following:
i. Receive its payment over the counter at the bank,
ii. Deposit the cheque in his own account
iii.Pass it to some one else by signing on the back of a cheque.
b) Crossed cheque: Since open cheque is subject to risk of theft, it is dangerous to issue
such cheques. This risk can be avoided by issuing another types of cheque called ‘Crossed cheque’. A cheque can be crossed by drawing two transverse parallel lines across the cheque, with or without the writing ‘Account payee’ or ‘Not Negotiable’. The payment of such cheque is not made over the counter at the bank. It is only credited to the bank account of the payee.
c) Bearer cheque: A cheque which is payable to any person who presents it for payment at the bank counter is called ‘Bearer cheque’. A bearer cheque can be transferred by mere delivery and requires no endorsement.
d) Order cheque: The payee can transfer an order cheque to someone else by signing his or her name on the back of it. An order cheque is one which is payable to a particular person. In such a cheque the word ‘bearer’ may be cut out or cancelled and the word ‘order’ may be written.

What is Forgery?
The creation of a false written document or alteration of a genuine one, with the intent to defraud is known as Forgery.

Common forgery usually involves manufacturing or tampering with documents for economic gain. Besides this Forgery consists of filling in blanks on a document containing a genuine signature, or materially altering or erasing an existing instrument. The intent to defraud remains essential.

According to sec.463 of Penal Code 1860,Whoever makes any false document or part of a document, with intent to cause damage or injury, to the public or to any person, or to support any claim or title, or to cause any person to part with property, or to enter into any express or implied contract, or with intend to commit fraud or that fraud may be committed, commits forgery.

An underlying intent to defraud, based on knowledge of the false nature of the instrument, must accompany the act.

Methods of forgery include handwriting, printing, engraving, and typewriting.
Instruments of forgery may include bills of exchange, bills of lading, promissory notes, checks, bonds, receipts, orders for money or goods, mortgages, discharges of mortgages, deeds, public records, account books, and certain kinds of tickets or passes for transportation or events.

Cases of Forgery:
Unauthorized use of seal: A, without Z's authority, affixes Z's seal to a document purporting to be a conveyance of an estate from Z to A, with the intention of selling the estate to B and thereby of obtaining from B the purchase-money. A has committed forgery.

By inserting amount on a blank Cheque:A picks up a cheque on a banker signed by B, payable to bearer, but without any sum having been inserted in the cheque. A fraudulently fills up the cheque by inserting the sum of ten thousand taka. A commits forgery.

By tampering of the number of the amount:A leaves with B, his agent, a cheque on a banker, signed by A, without inserting the sum payable and authorizes B to fill up the cheque by inserting a sum not exceeding ten thousand taka for the purpose of making certain payments. B fraudulently fills up the cheque by inserting the sum of twenty thousand taka. B commits forgery.

Cases of Forgery:
By defrauding the banker:A draws a bill of exchange on himself in the name of B without B's authority, intending to discount it as a genuine bill with a banker and intending to take up the bill on its maturity. B dishonestly erases the words "pay to Z or his order" and thereby converts the special endorsement into a blank endorsement. B commits forgery. Here, as A draws the bill with intent to deceive the banker by leading him to suppose that he had the security of B, and thereby to discount the bill, A is guilty of forgery.

By transforming a special endorsement into a blank endorsement: A endorses a Government promissory note and makes it payable to Z or his order by writing on the bill the words "pay to Z or his order" and signing the endorsement.

Punishment for forgery
According to section 465 of Penal Code, Whoever commits forgery shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.

Punishment if cheque dishonored
According to Sec.138 of Negotiable Instrument Act 1881,a person whose cheque is dishonored, shall be punished with imprisonment for a term which may extend to one year, or with fine which may extend to thrice the amount of the cheque, or with both.

Provided that nothing contained in this section shall apply unless- (a) the cheque has been presented to the bank within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier; (b) the payee or the holder in due course of the cheque, as the case may be, within thirty days of the receipt of information by him from the bank regarding the return of the cheque as unpaid makes a demand for the payment of the said amount of money by giving a notice, in writing, to the drawer of the cheque, , and(c) the drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within thirty days of the receipt of the said notice.

Recommendations:
Precautions of banker against fraud and forgery of Cheque
Bank’s safeguard to protect a fraud and forgery are as follows:
Signature of the drawer: The instrument has to be signed by its drawer. Bank shall not pay the money, if the signature of drawer is not found.
Date: Date should be written in the right side of the cheque. If it is not written, incorrect or expired of 180 days, bank doesn’t pay the money.
Amount of money: The amount of money is to be written in figure and words; otherwise, the bank doesn’t pay money.
Similarity in word and figure: The amount mentioned in figure and word should be similar.
Account number: The banker should follow the account number whether it is right or wrong.
Similarities of the signature: The signature given by the drawer or account holder must be similar with the sample signature.
Bank and branch: Bank has to check the branch and bank name. If those are not correct, the bank must not pay the money.

Recommendations:
Genuine payee: The banker should check the identity of payee.
Accuracy of cheque drafting: Bank verifies whether the drafting is correct or not.
Legal notice: Bank should inquire whether there is any legal notice on the part of Drawer, Government or Court or not.
Drawer notice: If a drawer sends a notice against any Cheque then the cheque shouldn’t be paid.
Torn Cheque: The amount is not payable in case of a torn Cheque.
Endorsement: Banker should check the process of endorsement either it is legal or not.
Crossing in Cheques: Bank should be cautious about the Crossing of cheque. If a cheque is crossed then the amount mustn’t be paid directly.
Death of the customer: At the death of the customer, the bank doesn’t pay the cheque amount.
Stolen cheque: If it is proved that, the Cheque is stolen before, and then the cheque is dishonored.

Customers duty to prevent forgery
Customer of a bank owes a duty of care in drawing a cheque to take reasonable and ordinary precautions against forgery:
Store your checks, deposit slips, bank statements and canceled checks in a secure and locked location. Never leave your checkbook in your vehicle or in the open.
Reconcile your bank statement within 30 days of receipt in order to detect any irregularities. Otherwise, you may become liable for any losses due to check fraud.
Make sure your checks are endorsed by your financial institution and incorporate security features that help combat counterfeiting and alteration.
Never give your account number to people you do not know, especially over the telephone. Be particularly aware of unsolicited phone sales. Fraud artists can use your account without your authorization and you may end up being responsible.
Unless needed for tax purpose, destroy old canceled checks, account statements, deposit tickets, ATM receipts (they also frequently have your account number and worse yet, your account balance). The personal information on it may help someone impersonate you and take money from your account.

Customers duty to prevent forgery
When you receive your check order, make sure all of the checks are there, and that none are missing. Report missing checks to your bank at once, if any. And if you fail to receive your order by mail, alert your bank. Checks could have been stolen from mail box or lost in transient.

Never endorse a check until you are ready to cash or deposit it. The information can be altered if it is lost or stolen.

Don't leave blank spaces on the payee and amount lines.
Don't write your credit card number on the check.
Don't make a check payable to cash. If lost or stolen, the check can be cashed by anyone.

Thank You

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Case Study of Business Marketing

Ferguson Industry

1|why nwould sales vary so greatly for Gave’s company?
1|answer
ferguson industries is an industrial distributor’business was great this year for the family business a company that make small fans used to cool personal computers, the ssales vary so greatly for the company.In my opinion ,the company losed their sales earlier because they could not supply the products to the customers according to demand.

How can Ferguson Industries stabilize sales?
Answer:
Ferguson Industries can stabilize their sales by various ways. Then they can shift sales focus from attracting new customers to enticing your proven customer to buy again. If they start focusing their sales efforts on your proven customers, they may be able to increase or stable their spocket sales dramatically .and these sure ways to to increase sles will help build customer loyalyty too. Some ways they may apply to make the sales of the company more stabilize.They are

Set up a sales incentive program”
Gi

· Set up a customer rewards program :

We are all familiar with the customer rewards that so many large business have in place. But there’ s no reason that a small business can’t have a customer rewards program. too. It can be as simple as a discount on a customer’s birthday or as complex as a points system that earns various rewards such as discount on merchandise. Done right , rewards programs can really help build customer loyalty and stable sales. or even ,they can provide free samples to their customers.

1.2: Magnusson manufacturing
Question-1: what are some alternatives that sven should consider?
Answer: As the rivalry among the competitors is very strong in the market, It is obvious that any company should take alternative strategy to keep up their existence especially if the current practice does not work properly. Sven Givson needs to take alternative initiative to hire and train up new US sales people to entire this market, To sale the product ,marketing manager should consider alternative strategy for taking comparative advantage from the market.

Question 2: Discuss the factors that should affect decision, paying particular attention to the factors influencing the types of organization Magnusson should sell to or through?
Answer: Many factors that can be directly or indirectly effect on the decision and obviously decision has an effective impact on organization .As per the case situation, company should think about considering nature of market, buyers group, customer demand ,competitors activities, distributors and based on information how differently company can sell and ensure the post purchase service for the customers. And there is no option to make itself exceptional strategy to reach the maximum buyer group by utilizing local sales people in the new regional markert.

Decision. Incase study ,Wilson Puckett is the decision makers and his activities different from others.So it is specific as possible.. 

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An application to the registrar of your university seeking permission to staging a drama of auditorium.

Subject: An application for staging drama

Sir,
On the behalf of the students of your university would like to draw your kind attention that. We are very interested. To stage a drama in our university auditorium. Two of our classmates are television artists. They will guide us. All the students are eagerly waiting for your permission.

I therefore pray and hope that you would be kind enough to permission for staging drama the auditorium and obediently thereby.

Your most obediently