3. Make up dialogues based on the following assignments:

1. There is a delay in delivery of equipment under your contract with … . Call the company’s representative to explain why the delivery is urgent and what you will have to do if the delay becomes too long.

2. Meet your future customer. Ask him what he thinks of your draft contract. On the whole the draft is acceptable but the customer wants you to reduce the price. Finalize the outstanding points.

3. Your Vice-President and you are discussing the progress of the talks with some foreign businessmen. Say what you did last week and what you are going to do this week.

4. During your talk with Mr. Kley discuss the guarantee period and the delivery dates. Ask him to extend the guarantee period and ship the goods within three months.

3. Read and translate the texts: Substitution

A customer ordering a box of men’s handkerchiefs initialed “H” from a large mail-order house received a box of handkerchiefs with the initial “I” and the following explanatory enclosure slip: “We regret that we are at present out of the merchandise you ordered. The enclosed is the nearest thing to it and we trust that the substitution will be satisfactory”.

Sorry, Too late

A New York maternity shop received this note: “Dear Sirs: You have not yet delivered the maternity dress I ordered. Please cancel the order. My delivery was faster than yours.”

VI. Payment Acknowledging Receipt of Goods and Making Payment

When the buyer receives the goods delivered by the seller, he will examine them carefully; if he finds them to be in order, he will, in many cases, send the seller an acknowledgment of receipt. Should a remittance be made at the same time, an advice to this effect is included in the acknowledgment.

Before payment is effected, the buyer carefully checks the seller's invoice or statement and compares it with his own records. If he discovers any error or discrepancy, he will notify the seller immediately. The matter is then investigated by the latter and, if it is found that the buyer was right, a correction is made.

In settling indebtedness the following means of payment may be used:

1. cash,

2. postal orders and money orders,

3. cheques and bank drafts,

4. bank transfers,

5. bills of exchange and promissory notes,

6. documentary credits.

The means of payment most commonly used in foreign trade are bank transfers, bank drafts, bills of exchange and documentary credits.

Payments in foreign trade involve the conversion of one currency into another. Means of payment which represent a claim to the payment of a certain sum in a foreign currency are collectively known as foreign exchange.

A sum of money sent in the form of cash, a cheque, bank transfer, etc., to a person at another place is known as a remittance. (The word is also applied to the act of sending the money.) Remittances are accompanied by a remittance advice, or they are sent together with the order or the letter acknowledging receipt of the goods. If the sender of the remittance does not have any proof of payment, he will ask the recipient to send him a receipt.