To look forward to doing smth.

2. Say and respond as in the model:

-- I’ve heard you are going to London soon.

-- Yes, I’m looking forward to visiting the city.

Prompts: to do business with Bond & Co; to go on business to Liverpool; to receive an offer from your company; to hear from your partners; to meet Mr. Johnson; to visit the Seller’s plant.

To be acceptable

a) Ask and answer as in the model:

-- Did you accept the Seller’s price?

-- No, we didn’t. They are not acceptable to us.

Prompts: terms of shipment; terms of delivery; terms of payment; payment for collection; payment by an L/C.

b) Ask your friend:

1. if the Seller’s prices are acceptable to the Buyer’s or they find them high;

2. what the Buyers usually do if the prices are not acceptable to them;

3. if the Sellers usually give a discount off the value of the contract if the prices are not acceptable to their Buyers;

4. if the Sellers sometimes change terms of delivery if they are not acceptable to the Buyers.

To be satisfied with

Read the model.

We are not satisfied with the quality of your machines.

What could say if:

You didn’t like the purchase you’ve made; the quality of the goods; the terms of delivery under the contract; the performance of the transaction; you business trip to Glasgow; your negotiations with Brown & Sons.

Ex.19. Supply the prepositions where necessary.

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

2. The Sellers informed us that the goods are ready … shipment.

3. The buyers will open … cable a Letter … Credit … favour … the Sellers … presentation … the following documents.

4. The Seller 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 … of the goods … presentation … the Bank … Foreign Trade Belarus, Minsk … shipping documents.

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

Ex.20. Read the text with the dictionary. Make a list of new words anв expressions.

Terms of Payment

In business there are many occasions on which people have to deal with money and talk about money.

Payment in foreign trade may be made in cash and on credit. There are different methods of cash payment:

1. By cheque (They are mostly used for payment in home trade).

2. By telegraphic or telex transfer or post. They are made from the Buyer’s bank account to the Seller’s in accordance with the Buyer’s letter of instruction.

3. By a letter of credit (L/C). In commercial practice the following types of letters of credit are usually used: irrevocable, confirmed and revolting. An irrevocable L/C cannot be modified or controlled without the agreement of all the parties. A confirmed L/C is an irrevocable L/C, payment under which is guaranteed by a first class bank. A revolving L/C is one under which its value is constantly made up to a given limit after payment for each shipment which saves the charges on multiplied letter of credit.

The letter of credit is the most frequently used method of payment because it’s profitable and secure both to the Buyer and to the Seller though it is more expensive than payment by transfer. Payment is made against shipping documents.

4. Payment for collection is not widely used because it doesn’t give the Seller any guarantee that he will receive payment in time or at all. It is more advantageous for the Buyer because there is no need to withdraw from circulation big sums of money before actually receiving the goods.

Most modern business is done on a credit basis which may be: -- by drafts. A draft is an order to pay. It is made out by an exporter and presented to the importer. There are two main types of drafts: sight draft and term draft. A sight draft is a bill which is paid immediately on presentation. A bill to be paid at a later date is called a term draft.

-- in advance. [For example the contract may stipulate a 10% advance payment, which is profitable for the Sellers]. This method is used when the Buyers are unknown to the Sellers or in case of single transaction.

-- on an open account. Open account terms are usually granted by the Sellers to the regular customers in whom the Sellers have confidence. Actual payment is made monthly. It is not profitable to the Sellers, but may be good to gain new markets.

The two methods of payment (in cash and on credit) are very often combined in a contract.

Ex 21. Ask questions and make a logical plan to the text. Retell the text concentrating on its main topic.

Ex.22. Translate into English.

1. Мы считаем цену необоснованной.

2. Если вы дадите 5% скидку, мы сможем разместить повторный заказ в вашей компании.

3. Насосы пройдут испытания на заводе-изготовителе.

4. Как только проблема цены будет улажена, мы подпишем контракт на покупку оборудования.

5. Контракт был составлен вчера, но нам надо обсудить условия оплаты.

6. Рост цен на оборудование повлиял на объем заказов.

7. Мы приняли во внимание цену на этот тип насосов на мировом рынке.

8. Покупатель должен открыть безотзывный аккредитив на полную стоимость товара.

Ex.23. Read the dialogue, write out new words and learn them.