Subject for Study: Further Business Contacts and Their Development. Fulfillment of Contracts. Payment. (Развитие деловых контактов. Контракты и их исполнение. Платежи)

Grammar: Conditional Clauses. Revision. (Условные предложения. Повторение)

Упр.1 Прочитайте и запомните слова. Найдите предложения с данными словами в тексте и переведите их.

Methods of payment – формы оплаты

To ensure (payment) – гарантировать

To trаnsmit money – переводить деньги

To present to the bank – предъявлять банку

Payment in advance – оплата авансом

Open account –открытый счет

A bill of exchange –вексель

The face of the bill – лицевая сторона векселя

Available currency – доступная валюта

A sight draft – вексель на предъявителя

A term draft – вексель с оплатой в конце определенного срока

A letter of credit –аккредитив

Revocable ( irrevocable) – отзывный (безотзывный)

A promissory note – расписка

To promise – обещать

At a fixed time – в установленное время

To release the goods – растаможить (товар)

Security of payment – гарантия платежа

The accompanying documents – сопроводительные документы

The value of the goods – стоимость товара

On presentation – по предъявлении

To extend credit – продлить кредит

To revoke – изменить

Methods of Payment.

Selling abroad creates extra problems. Delivery generally takes longer and payment for goods correspondingly can take more time. Exporters need to take extra care in ensuring that prospective customers are reliable payers.

The way exporters choose to be paid depends on a number of factors: the usual contract terms adopted in the buyer’s country, what competitors may be offering, how quickly money is needed, the life of the product, the availability of foreign currency to the Buyers, etc.

There are four basic methods of payment providing various degrees of security for the exporter:

- payment in advance,

- open account,

- Bills of exchange,

- documentary Letter of Credit.

The best possible method of payment for the exporter is payment in advance, which provides the greatest security of payment to an exporter and may be asked even before the production begins. However, this form of payment is extremely rare in exporting as no overseas buyer would extend credit to an exporter.

Payment on open account offers the least security to the exporter. The goods and the accompanying documents are sent to the overseas buyer who has agreed to pay within a certain period of time.

An exporter can also send a bill of exchange for the value of goods for export through the banking system for payment by an overseas buyer on presentation. The bill is called a sight draft if it is made payable at sight (on demand). If it payable “at a fixed or determinable future time” it is called a term draft. The Buyer signs an agreement to pay on the due date by writing an acceptance across the face of the bill. By using a bill of exchange with other shipping documents through the banking system, an exporter can ensure greater control of the goods, because until the bill is paid or accepted by the overseas buyer the goods cannot be released. In all the methods of payment using a bill of exchange, a promissory note can be used as an alternative. This is issued by a Buyer who promises to pay an exporter a certain amount of money within a specified time.

A more secure method of carrying out transaction is by documentary Letter of Credit. This documentary Letter of Credit when transmitted through a bank (usually in the exporter’s country) becomes the means by which the exporter obtains payment. The necessary documents, correctly completed, are presented to the bank by the expiry date of the credit. Documentary credit may be revocable and irrevocable. Most letters are irrevocable, which means that once a Buyer’s conditions in the letter have been agreed by an exporter, they constitute a definite undertaking by the Buyer’s bank and cannot be revoked without the exporter’s agreement.

Упр. 2. Расскажите, что Вы узнали о:

- the factors payment depends on in export trade;

- different ways of payment

- the security of each method of payment;

- the most secure method of payment;

- the least secure method of payment.

Упр. 3. Ответьте на вопросы.

1. Why is there a problem of payment in export trade?

2. What is the main difference in the four methods of payment?

3. Which method of payment is the most secure? Why?

4. Which method of payment would you prefer, by sight draft or by term-draft? Why?

5. Why is Letter of Credit called documentary?

Упр. 4. Прочитайте текст и выполните следующие задания:

а).

Найдите английские эквиваленты слов и словосочетаний: вексель, безвозвратный аккредитив, открытие счёта в банке, почтовый перевод, вексель на предъявителя, вексель с оплатой в конце определенного периода, оплата наличными, оплата наличными при получении заказа.

б)

Ответьте на вопросы.

1. Who do you think is speaking? Where and who to?

2. What’s the main point of his speech?

3. Which method of payment is preferred by the speaker and why?

4. Which system involves the most risk for the firm?

Text

So, there are four systems that we use. Cash with order is ideal: but most customers want a period of credit, so it’s not always easy to insist on the cash first. The next one I mentioned was Open Account; and there are three ways that open account customers can pay us: by cheque, by telegraphic transfer, or by mail transfer. BUT: we don’t give a customer open account facilities until we have business references from two major firms and from a bank. Open account is OK with people you know well, but don’t go round offering it to strangers! Now, bills of exchange or draft. We use two types: sight bills, which are a little like a cheque; and time bills, which are paid after a certain period. OK? Sight bills, time bills, OK. Now, the type of payment system I prefer to use is irrevocable letter of credit. The word “irrevocable” is important. It means that there’s no risk: the banks guarantee that we get our money: and that’s the way I like it …

в) Озаглавьте текст.

Упр. 6 Вставьте артикли или притяжательные местоимения.

1^st May, 2006

Dear Mr. Stogov,

Our bank is pleased to have been … long-standing partner of … company and appreciates … chance to have had those mutually beneficial business opportunities that we have had over … recent years.

As for … latest proposal, I can inform you that … bank can lend you up to 20 mln USD as … sole provider. We suggest … 8-year loan at …fixed rate of interest of 11% … annum with quarterly repayments.

… bigger package that you mention can also be organized with … help, provided we go ahead with our principal loan.

Sincerely yours,

John Greenly,

Dear Sir,

Our Manchester Trade Co. Intends to open … branch of … business in London, and we should like to open … current account with you for … use of the management of this branch.

The Manager’s name is Dale Cooper and he is authorized to sign cheques on … behalf. … cheques will also carry … second signature of … branch cashier, Mr. Peter Carter.

Will you, please, make arrangements for these two gentlemen to visit your bank in order to provide specimens of … signature and fulfill other formalities.

Our references can be obtained by you from … Manchester First Bank who will be pleased to provide you with any details concerning … Manchester Trade Co.

Note: to be authorized – быть уполномоченным,

Signature – подпись

Specimen – образец

Упр. 7. Вставьте предлоги там, где это необходимо.

1. According … the contract payment is to be made … a Letter … Credit opened … full value … the goods.

2. Sellers advised us that the goods were ready … shipment.

3. The Buyers will open … cable a Letter …Credit … favour … the sellers … the following documents.

4. The Buyer has the right to extend the period … validity … the Letter … Credit.

5. The payment … the goods is to be made … US dollars … the full value … the goods … presentation … the Bank … Foreign economic Affairs … Russia, Moscow … the shipping documents.

6. … the event … devaluation … the US dollar both parties have the right to renegotiate the price … the goods.

Упр. 8. Поставьте глагол в правильной форме. Переведите текст.

а) The process of payment from bank to bank (greatly, to quicken) by the introduction of SWIFT system (Society for Worldwide International Financial Telecommunication). This network (to cover) nowadays thousands of banks in about a hundred counties. A message to pay money sent through the computers of SWIFT system (can, to receive) in the matter of seconds.

The role of correspondent banks (nowadays, to grow). A correspondent bank (to be) the one which carries the deposit balance of another bank situated in another country or city. This exchange of services between banks greatly (to facilitate) international payments.

One of the relatively new developments in banking (to be) the industry of plastic (credit) cards. By issuing credit cards to individual clients and thus encouraging them to spend money, the banks (to tap) the almost inexhaustible resources of the consumer sector. This system (to pioneer) by the USA where plastic cards (to prove) a goldmine for banks, but now credit cards (to issue) by virtually all big banks around the world.

б)

1. Mr. Brown (to inform) us in the telephone conversation that the firm (to agree) to reduce the price.

2. I (to tell) the other day that the volume of business in this industry almost (to double).

3. They (to advise) us two days ago that the Buyers (to agree) to extend the validity of the Letter of Credit.

4. At yesterday’s talks the firm (to draw our attention) to the fact that they (to want) to double their purchases.

5. I (to learn) from our conversation that the drop in the volume of business (to affect) the prices and they (to plan) to draw up a new quotation.

Упр. 9. Прочитайте обсуждение партнерами некоторых пунктов контракта и выполните следующие задания:

a) Суммируйте основные пункты, обсуждавшиеся партнерами.

b) Расскажите о Ваших переговорах от имени Клименко.

В. Mr.К, there is one more question I’d like to discuss with you. As we

are in close touch with the market now we are informed that other

companies can quote lower prices. We expect your understanding of our

good will and of the fact that our company is rather new and intends to have

long-term relations with yours.

11. Right. But business is business. What are reasons for a discount?

2. I’ve already mentioned your competitors’ prices. Besides, your price must

depend on the amount of the Contract.

11. Well, if you increase your order to … pounds we will be able to give you a

2% discount.

K. It’s better, but we expected at least a 4% discount.

B. Let’s make some calculations, …3% and not more, Mr.Klimenko. Even this

concession leaves only a very small profit for us.

K But I’m afraid, Mr. Black, that this time we can’t raise the sum of the

Contract. Would you take risks and sign our first contract at this price if we

find you new customers in the CIS countries in the nearest future?

B Well, that’s reasonable. We always give our partners a square deal. But this

price is final. CIF Odessa, isn’t it? Now the terms of payment. We accept:

Cash, Letter of Credit, Telex Transfer, Certified Check.

K You see, gentlemen, cash is out of question. It isn’t allowed in our country

for foreign trade, and, it’s a problem for us too. The Letter of Credit appears

to be most acceptable. As to the others they are not so widespread in our

country.

B. All right. What currency can you pay: sterling or dollars? We insist on

pound sterling.

K. It’s possible. Go ahead, please.

B. What we need is freedom of shipment from any UK port. We must have a

choice in case of strike.

K. No objections. But we need a Bill of Lading, an Invoice, a Packing List, a

Certificate of Origin, a Certificate of Quality and Insurance Policy to be

faxed within two days after the cargo is ready for shipment.

B. Good. To sum it up let me show you the sample of other company’s L/C but

without any figures and names (it’s our commercial secret). We could meet

tomorrow after you look through it closely. What time could you come here

again, Mr. Klimenko?

K. I think we can meet at two if you do not mind.

B. Then see you tomorrow at 2.

Note: concession – уступка

sample – образец

CIS – СНГ

Упр. 10 Прочитайте отрывок из контракта и выполните следующие упражнения:

а) Переведите предложения, в которых употребляются следующие слова и словосочетания: hereinafter – at the Seller’s option – notification – as follows – the receipt – for the full value (of goods) – invoice – certificate of weight – bill of lading – the exchange rate – to renegotiate - valid – extension (of the contract) – under the contract .

б) Найдите английские эквиваленты слов и словосочетаний: по выбору продавца, включая упаковку, получение уведомления, именуемый в дальнейшем, на полную стоимость, быть действительным, валютный курс, заново обсудить вопрос цены, счёт-фактура.

Выпишите предложения с этими словами из текста

в) Составьте 10 предложений с выделенными выше словами (п. б) письменно. Используйте Ваши предложения в сообщении об условиях платежа по контракту.

Contract No…

London 15^th may,2002

Rosexport, Moscow, hereinafter referred to as the Seller and British Asbestos

Ltd., London, hereinafter referred to as the Buyer, hereby agree as follows:

The Seller has sold and the Buyer has bought asbestos of Russian origin on FOB terms from one of the Northern ports at the Seller’s option. The grades, price and quantity are stated as follows:

The price for goods is understood to be per metric ton, packing included, FOB

Northern ports. The quantity is understood to be up to 5% more or less, at the Seller’s option.

Within five days after the receipt of the Seller’s notification by cable that the

goods are ready for shipment, the Buyer shall open by cable with the Russian Bank of Foreign Economic affairs, Moscow, an irrevocable, confirmed and divisible Letter of Credit in favour of the Seller for the full value of goods plus 5% to cover the option. The Letter of Credit is to be valid for 90 days, with the extension if required by the Seller. The payment for the goods is to be made in US dollars for 100% (one hundred percent) of the invoice value of Asbestos on presentation to the Russian Bank for Foreign Economic Affairs, Moscow, of the following documents:

-invoice in 3 copies (in triplicate)

-Seller’s Certificate of Weight

-set of Bills of Lading

In the event of the change of the exchange rate of the US dollar on or before the

date of payment under the present contract both parties have the right to renegotiate the price of the goods.

Упр. 11. Найдите соответствия сочетаниям в левой колонке сочетания в левой колонке.

A B

1.… on very favourable terms a) наши условия – ежемесячная

(квартальная) оплата

2…. at the very special price b по себестоимости

3…at below the market price c) наши сроки и условия продажи

должны быть соблюдены

4. at less cost d) просьба производить оплату

траттой, выставленной банком

на другой банк (безотзывным

аккредитивом, переводным

векселем)

5.owing to the slump commodity price e) мы хотели бы чтобы платеж

we can offer you these goods осуществлялся траттами по

принятии Вашего заказа.

7.raw material prices have risen f) по особой (специальной) цене

8.prices have (risen, fallen) remained steady. g) наши условия -платёж по счёту-

фактуре

h) цены на сырьё повысились

поднялись

9.our prices are quoted… i) наши цены включают в себя

упаковку и перевозку.

10. our prices include packing and carriage. j) котировальная цена включает

упаковку в специальные

экспортные ящики

11.freight and packing cases are included l) наши цены при условии оплаты

in the price наличными допускают скидку

12.the price quoted includes packing in m)наши условия -чистый

special export cases платёж (наличными,

немедленная оплата

наличными, наличные деньги в

течение 6 дней, уплата при

доставке, наложенный платёж)

14.our quotation prices are subject to 2% n) на очень благоприятных discount for cash условияx

o) цены повысились (понизились,

остались стабильными)

15.…at cost price p) ниже себестоимости

16.our terms are payment on invoice. q) фрахт и упаковка коробок

включены в цену

16.our terms are net cash (spot cash, cash r) цены на сырьё повысились

within 6 days, cash on delivery, cash

with order)

17.our terms are monthly (quarterly) s) наши цены назначены

settlement.

18.we should require payment by banker’s t) вследствие резкого падения цен

draft on accepance of your offer мы можем предложить Вам эти

товары

19.our terms and conditions of sales as x) ниже себестоимости

printed on your invoices must be strictly

observed.

20.payment by banker’s draft (irrevocable z) наши условия и сроки продажи,

letter of credit, bill of exchange) is указанные в счёте-фактуре

requested должны строго соблюдаться

Упр. 14. Переведите предложения на русский язык. Составьте деловое письмо, расположив предложения в логической последовательности. Оформите письмо.

1. We agree to your price, but should like to know if you are prepared to grant us a discount of 5% for a quantity of 2,000.

2. What special discount can you offer for orders over $5,000 net?

3. We enclose our order, but must point out that the falling market here will leave us little or no margin of profit. We must ask you for a keener price in respect of future supplies.

4. As we have now done business with you for a year, we should appreciate quarterly settlement terms.

5. As we propose to run a series of 12 consecutive advertisements, we should like to know what discount you can allow us for this.

6. We attach our order for 3 gross, but could send you much larger orders if you could see your way to bringing your price down to a level comparable with that of your competitors in this market.

Упр. 15. Составьте письма на основе данной информации.

1. As / we / particularly / interested /taking part /display / new products / we / writing /you / willing /inform /us / time and requirements/. We look forward /receiving / prompt reply.

2. … anxious / begin / production /this spring /we /writing … prepared/ grant / us/ credit / period / twelve months. In return … we / willingly / pay /higher / rate / interest. We look … .

3. … keen / open / new branch / June … / writing … willing … /begin / work / office / at once. In return … we / prepared / settle / account / within 24 hours / completion / work. We look … .

Упр. 16. Переведите на английский язык.

а)

1.Мы хотим обратить ваше внимание на новые факторы, отрицательно влияющие на торговлю.

2. Согласно контракту, вы открываете аккредитив во Внешэкономбанке России в Москве.

3. Безотзывный и подтверждённый аккредитив открывается на полную стоимость товара.

4. Цифры, содержащиеся в докладе, представляют для вас интерес.

5. Они приняли во внимание тот факт, что мы удвоили заказ.

6. Он обратил внимание на то, что они продлили срок гарантии.

7. Сведения, содержащиеся в письме, всех удивили.

б)

Уважаемые господа,

Благодарим вас за ваш запрос и рады выслать наше предложение на станки, которые вас интересуют.

Мы предлагаем вам товар по ценам, указанным в нашем каталоге, при условии вашего подтверждения в течение 10 дней от даты данного письма.

Наши обычные условия платежа следующие:

80% от стоимости товара оплачиваются по безотзывному, подтвержденному аккредитиву при представлении следующих документов:

1. оригинала коносамента;

2. счёта в трёх экземплярах;

3. заводского сертификата.

Оставшиеся 20% оплачиваются после приёмки товара. Аккредитив должен быть открыт во Внешэкономбанке России в Москве и должен быть действителен в течение 90 дней.

в)

Уважаемые господа!

Касательно аккредитива для оплаты тракторов

Пожалуйста, откройте во Внешторгбанке подтверждённый безотзывный аккредитив в пользу компании «Тракторэкспорт», Москва, на сумму 80 000 английских фунтов стерлингов, которые должны уплачиваться по доставке Вам следующих документов:

- коносаментa «чистый на борту» с указанием, что фрахт уплачен заранее, индоссированный нашему приказу;

- счетов - фактур в пяти экземплярах.

Разрешается пропорциональная оплата по мере отправления груза партиями. Срок аккредитива истекает 1 октября сего года.

С уважением ….

г)

Уважаемые господа!

Мы получили ваше уведомление о том, что товары по заказу А285 готовы, и сегодня нами посланы указания касательно их отгрузок. Также сегодня нами открыт безотзывный аккредитив на сумму 13 450 американских долларов. Мы проинструктировали Манхэттенский банк Нью-Йорка сообщить Вам об этом.

Срок аккредитива истекает 31 июля с.г. Мы, однако, предполагаем, что Вы не будете терять время, и выполните наши указания по отгрузке товаров до истечения срока аккредитива.

С уважением,

UNIT III