- •Banking 1 documentary credit
- •1.1 The importer applies to the bank for opening the credit
- •1.2 The buyer places an order and informs the seller of the opening of the l/c
- •1.3 The seller receives the order and confirms it
- •1.4 The bank advises the seller that the credit is available (I.E. Confirms the credit)
- •1.5 The seller sends the documents to the bank
- •Documentary credit part II
- •2.1 The buyer replies to the seller’s request to prolong the time of delivery and discusses amendments to the l/c
- •2.2 The buyer advises the bank of the amendment agreed upon with the seller
- •3.1 The buyer informs the seller of discrepancies in the documents
- •3.2 The buyer advises the seller of payment and asks to comply with the requirements of the credit
- •4 The bank advises the buyer of payment
- •Part II
- •Vocabulary
- •Part II
- •Part II
- •Banking 2 documentary collection. Some aspects of commercial banking
- •1.1. The collection order of a bank
- •1.2 Documents are presented for collection
- •1.3 A collection order is not acknowledged
- •1.4 Returning the accepted drafts
- •1.5 Payment guarantee granted by the bank
- •2 Letter of guarantee
- •2.1 Correspondance on letter of guarantee
- •2.2 Payment guarantee granted by the bank
- •2.3 Performance guarantee granted by the bank
- •Part II
- •3 Some aspects of commercial banking
- •3.1 Opening a current account
- •3.2 Problems on standing order
- •3.3 Request for an overdraft
- •3.4 Advice of granting an overdraft
- •Vocabulary
- •Part II
- •Part II
- •Transportation
- •1.1 Request for a quotation for delivery by road
- •Quotation for delivery by road
- •1.3 Advice of delivery from consignor to consignee
- •1.4 Waybill
- •2.1 Delivery by rail
- •2.2 Consignor's reply
- •2.3 Railway bill
- •3.1 Delivery by air. Enquiry for freight rates
- •3.2 Quotation for delivery by air
- •3.3 Airway bill
- •1.4 Waybill
- •2.3 Railway bill
- •3.3 Airwaybill
- •Consignment; to consign
- •Vocabulary
- •Marine transportation
- •Request for freight rates and sailings
- •Shipping company’s reply
- •1.3 Shipping instructions sent to a shipping company
- •1.4 Instructions to a forwarding agent
- •1.5 Advice of despatch
- •1.6 Bill of lading
- •2.1 Telex enquiry for a time-charter
- •2.2 Enquiry for a time-charter
- •2.3 Offer of a vessel for carrying ore
- •2.4 Shipbroker’s reply confirming the fixture of a vessel
- •2.5 General charter
- •1.6 Bill of lading
- •2.5 General charter
- •Liner vs tramp
- •Cargo, freight, load
- •Shipping conference
- •Baltic Exchange
- •Loading dates
- •Vocabulary
- •Packing and marking
- •1.1 Enquiry to a container company
- •1.2 Container company’s reply
- •2.1 Customer’s instructions to packer
- •2.2 Packer’s information to customer
- •3 Information about marking
- •Barrel, cask, hogshead, keg
- •2. Paint vs dye
- •3. Stevedore, stevedores
- •Vocabulary
- •Contract of carriage
- •Carnet; tir Carnet; tir; cmr
- •Vocabulary
- •Insurance
- •Request for marine insurance quotation
- •1.2. Quotation for marine insurance
- •1.3. Claim
- •1.4. Reply to claim
- •2.1. Request for open cover
- •2.2. Quotation for open cover
- •2.3 Notification of shipment under open cover
- •Indemnification vs indemnity
- •Average
- •Average adjuster, average adjustment
- •4. Assessor
- •5. Underwriter
- •6. Interest
- •Vocabulary
4 The bank advises the buyer of payment
Barnley’s Bank Ltd. Queens Building Cathays Park Cardiff CF1 9UJ
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Our ref. Your ref.
14 May 20__ OAO MIM Russia Kursk Lenin st. 24
Dear Sirs,
In accordance with your instructions of yesterday’s date we have accepted a draft for 70,000.00 euros drawn by Teletrans Inc., against surrender of shipping documents in compliance with the requirements of the L/C.
We have debited your account with the amount plus our charges. The documents will be handed to you at your earliest convenience.
Yours faithfully, T.Snowland T.Snowland Credit Department
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FOCUS 2. Comprehension questions
PART I
? What is documentary credit intended for?
? What are the stages in documentary credit operations?
? What are the advantages of documentary credit?
THE EXAMPLE OF AN IRREVOCABLE LETTER OF CREDIT
? Name the Seller and the Buyer.
? Who has given instructions to issue a L/C?
? In whose favour is this L/C issued?
? Name the issuing and the advising banks.
? On what condition is the L/C available?
? What do you know about documentary credit? Are L/Cs widely used in foreign trade?
LETTER 1.1
? What request does the letter contain?
? What document is enclosed with the letter?
? What information does the application form contain?
? What information does the importer need?
LETTER 1.2
? In what way will the payment out of the L/C be effected?
? Which party is to bear transportation charges?
? Which party is to cover insurance and bank commission?
LETTER 1.3
? What do the Sellers confirm by this letter?
? What are the terms of payment mentioned?
? When will the Sellers start making up the order?
LETTER 1.4
? What are the terms of payment stipulated in the letter?
? What is enclosed with the letter?
? Is partial shipment allowed?
LETTER 1.5
? What is the Sellers’ request to the Bank?
? What is enclosed with the letter?
Part II
LETTER 2.1
? What is the Sellers’ request to the Buyers?
? Why is the L/C to be prolonged?
? What solution is put forward?
? Which party is to bear bank charges for the amendment to the L/C?
LETTER 2.2
? In what way is the L/C amended?
? Which party to the contract is to bear expenses for the amendment?
LETTER 3.1
? What problem is raised in the letter?
? What solution to the problem do the Buyers offer?
LETTER 3.2
? What information is provided in the letter?
? What request does the letter contain?
LETTER 4
? What does the Bank advise the Buyer of?
? When will the documents be released?
FOCUS 3. Study the notes, writing patterns and vocabulary.
NOTES
1. Reimburse, remit, transfer, credit, debit – все эти слова связаны с переводом или движением денежных средств. Необходимо обратить внимание на перевод и различные значения. Примеры: to reimburse costs – возмещать, покрывать, возвращать, компенсировать расходы; to remit a bill for collection – передать вексель на инкассо; to remit by cheque – оплатить чеком; to remit the money – послать, перевести деньги; the money is transferred – перевод средств осуществлен; authority transfer – передача полномочий; the amount is credited to your account – сумма перечислена на Ваш счет, credit note – кредитовое авизо; the sum debited to the account – сумма, списанная со счета, debit note – дебетовое авизо.
2. To charge, charge, charges – глагол to charge в коммерческой корреспонденции означает, как правило: 1) требовать оплату, взыскивать; 2) назначать или требовать цену; 3) записывать на дебет, дебетовать; 4) относить на чей-либо счет, т.е. начислять издержки.
Charge – 1) плата, денежный сбор; 2) залог активов для получения кредита; 3) расход; 4) комиссия за услуги; 5) долговое обязательство, дебет.
Charges – издержки, затраты.
WRITING PATTERNS
1. |
The bank checks the documents against credit. |
Банк проверяет соответствие документов условиям аккредитива. |
2. |
The documents are released/surrendered to the buyer upon payment. |
Документы выдаются Покупателю только по осуществлении платежа (т.е. против платежа). |
3. |
The sum of the credit is sufficient to cover CIF shipment and bank commission on the draft. |
Сумма аккредитива достаточна для покрытия стоимости отгрузки на условиях СИФ, а также банковской комиссии по тратте. |
4. |
We have debited your account with the amount plus our charges. |
Мы дебетовали Ваш счет на данную сумму и включили наши расходы. |
5. |
You are authorized to draw … days’ bill on us against this credit for the amount of your invoice as soon as you provide evidence of shipment. |
Вы уполномочены выставить на нас тратту со сроком платежа … дней против данного аккредитива на сумму Вашего счета, как только представите подтверждение отгрузки. |
6. |
All charges are for the Beneficiary’s account. All expenses will be charged to the Beneficiary’s account. |
Все расходы несет Бенефициар. |
7. |
Our bank has advised us that the proceeds of our L/C have been credited to your account. |
Наш банк уведомил нас, что выручка по нашему аккредитиву зачислена на Ваш счет. |
8. |
Please amend the L/C. |
Просим внести изменения в аккредитив. |
9. |
Please keep us informed of the passage of the documents. |
Просим держать нас в курсе прохождения документов. |
10. |
We have instructed the bank to open a credit for $… in your favour, valid till… |
Мы дали указание банку открыть аккредитив на сумму … долларов США в Вашу пользу. Аккредитив действителен до… |
11. |
Dispatch and marking instructions will be given by your forwarding agents. |
Инструкции по отправке и маркировке будут предоставлены Вашими экспедиторами. |
12. |
Payment will be effected by an irrevocable Letter of Credit (L/C) for a sum not exceeding $… |
Платеж будет осуществлен безотзывным аккредитивом, открытым на сумму не более… |
13. |
We require the documents listed below to be produced by you before we accept your draft. |
Для акцепта тратты нам необходимы документы, перечисленные ниже. |
14. |
We would ask you to discount the draft after acceptance at the agreed rate. |
Просим Вас учесть тратту по согласованной ставке после ее акцепта. |
15. |
The prolongation of the L/C means that we will have to bear extra charges. |
Продление аккредитива означает для нас дополнительные расходы. |
16. |
The bank has blocked payment out of L/C No. … for $… opened by us. |
Банк блокировал выплаты с открытого нами аккредитива № … на сумму… |
17. |
These documents do not comply with the credit requirements. |
Данные документы не соответствуют условиям аккредитива. |
18. |
As the validity of the L/C expires on the … it will be cancelled. |
Так как срок действия аккредитива истекает … (дата), он будет аннулирован. |
19. |
We have accepted a draft for … euros drawn by …, against surrender of shipping documents in compliance with the requirements of the L/C. |
Мы акцептовали тратту на … евро, выставленную … (трассант) против получения отгрузочных документов, указанных в условиях аккредитива. |