Assignments

I. Suggest the Ukrainian equivalents of the phrases below:

with reference to our meeting; I am pleased to tell you that; the credit which you requested has been approved; rate of interest; to hold ordinary shares; government bonds; to pledge as security; business associate; to sign the enclosed guarantor’s form; attached agreement; current account; to be available; subject to your returning both forms; expansion of your business; overdraft.

II. Find English equivalents to the following phrases:

поточний рахунок; процентна ставка; мати звичайні акції; діловий партнер; державні облігації; поручитель; закладати як заставу; перевищення кредитного ліміту.

IІI. Answer the questions:

1. What does the writer offer the addressee?

2. How is the interest on the credit to be charged?

3. Which account will the loan be paid into?

4. When will the credit be available from?

5. Which words in the letter have a similar meaning to the following?

a) paid back;

b) a person who guarantees something;

c) contract.

IV. Translate into English:

Позику необхідно повернути через рік, а ваші акції та облігації будуть заставою.

Credit (referee’s reply)

Dear Mr

We have received confirmation from F. Lynch & Co. Ltd that they want us to act as referees on their behalf, and can give you the following information.

We have been dealing with the company for ten years and allow them credit facilities of up to £4,000, which they only use occasionally as they prefer to take advantage of our cash discount. However, we would have no hesitation in offering them the sort of credit you mentioned, i.e. £5,000, as they are a large reputable organization and very well-known in this country.

Of course, we take no responsibility for how you use this information, and would remind you to consider it as confidential.

Assignments

I. Suggest the Ukrainian equivalents of the phrases below:

they want us to act as referees on their behalf; to take advantage of smth; cash discounts; we have no hesitation in offering them the sort of credit you mentioned; reputable organization.

II. Find English equivalents to the following phrases:

скористатися чим-небудь; знижка за оплату готівкою; третейський суддя; організація, гідна поваги.

III. Answer the questions:

1. What did the writer do before contacting the addressee?

2. What expression is used to mean for them?

3. Why does F. Lynch & Co. only sometimes use credit facilities?

4. How does the writer explain that his company will not be liable for the addressee’s decision?

5. Which words in the letter have a similar meaning to the following?

a) trading with

b) respected

c) private

Credit (enquiry agent’s reply)

Dear Ms M.

As requested in your letter of 9 April we have investigated Falcon Retailers Ltd.

It is private limited company with a registered capital of £10,000 and consists of two partners, David and Peter Lorre. It has an annual turnover of £400,000 and has been trading since October 1993. As far as we know, neither the company nor its directors have been subject to bankruptcy proceedings, but the company was involved in a court case to recover an outstanding debt on 17 January 20…. The action was brought by L.D.M. Ltd and concerned the recovery of £3,650, which Falcon eventually paid. We ought to point out that L.D.M. broke a delivery contract which accounted for the delayed payment.

From our general enquiries we gather that some of Falcon’s suppliers have had to send them second and third reminders before outstanding balances were cleared, but this does not suggest dishonesty so much as a tendency to overbuy, which means the company needs time to sell before they can clear their accounts.

We hope this information proves useful. If you have any further enquiries, please contact us.

You will find our account for £475.00 enclosed.