II. Provide English/Russian equivalents for the following words and word combinations:

• тратта, платежное поручение

• банковская комиссия по тратте

• счет-фактура

• коносамент

• отправка, отправление, отсылка

• insurance policy

• forwarding agent

• extra charges

III. Fill in the gaps with one of the following words or word combinations. Use the appropriate tense form:

charges draft to acknowledge favour account to settle validity confirmation forwarding agents to block to forward to comply

1. Dispatch and marking instructions will be given by our______________.

2. The sum of the credit is sufficient to cover CIF shipment and bank commission on the__________.

3. We will ship the goods as soon as we receive _____________of this credit from bank Y.

4. We have instructed Barclays Bank to open a credit for 10,000.00 dollars in your_____________.

5. We _______________receipt of your letter of 1 June in which you asked us to prolong the time of delivery for three weeks.

6. All_____________ connected with any amendment to this L/C are for our______________.

7. The bank _____________payment out of Letter of Credit № 96378.

8. The documents ______________by you to the bank do not __________with the credit requirements.

9. We ask you ____________the problem without delay.

10. The ___________of the L/C expires on 16 December and it will be cancelled.

IV. Fill in the gaps with prepositions where necessary:

1. The documents forwarded by you to the bank do not comply ______ the credit requirements.

2. The sum of the credit is sufficient to cover CIF shipment and bank commission ______ the draft.

3. We have instructed Barclays bank to open a credit _____ 10,000.00 dollars ____ your favour, valid______ 2 December 2009.

4. Please attach the following documents _____your draft.

5. All charges connected_____ any amendment_______ this L/C are _______ our account.

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*Documentary credit

The buyer asks his bank to open a letter of credit (открыть аккредитив). The issuing bank (банк-эмитент) asks its corresponding bank (банк-корреспондент) - usually in the seller’s country – to confirm the credit. The advising bank (банк, производящий выплату по аккредитиву) informs the seller that the credit has been opened. The seller ships the goods and sends the documents, which prove shipment of the goods, to the bank. The bank checks the documents. If the documents comply with the requirements of the credit, then the bank will make payment. The bank which made payment to the seller, sends the documents to the issuing bank for reimbursement (возмещение суммы аккредитива). The issuing bank after checking the documents reimburses the bank that has paid. The documents are then released to the buyer upon payment.