Comprehension

1. currency

1. information

2. clearing

2. association

3. exchange

3. of product

4. credit

4. differences

5. import

5. delays

6. to cause

6. controls

7. to obtain

7. bank

8. to claim

8. rate

9. to provide

9. standards

10. trade

10. risk

11. technical

11. translation services

1. When exporters sell goods to other countries there is no need to translate letters, labels and catalogues.

2. When exporters sell goods on credit there is sometimes the danger that customers will not pay what they owe.

3. If the foreign firms are far away delivery may not be so difficult.

4. When goods are being transported over long distances there is more chance that the goods will be damaged or stolen.

5. The Export Credits Guarantee Department is part of the Department of Trade and Industry, it acts like an insurance company by offering credit insurance.

6. Exporters pay premiums to the ECGD and then can claim compensation if their customers do not pay what they owe.

7. The British Overseas Trade Board (BOTB) is part of the Department of Trade and Industry it can give information to exporters about for example, the types of products wanted in other countries and the forms which have to be completed when selling to those countries.

8. The London Chamber of Commerce and industry is made up of firms involved only in banking.

9. Trade associations are national organization of firms. The Society of Motor Manufacturers and Traders can, for example, give any advice to those firms which make and sell cars.

10. The British Standards Institution (BSI) gives information about technical standards in foreign countries.

11. The clearing banks can help with the exchange of foreign currency and with receiving money from and paying to other countries.

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