Экономические

II. Translate into Russian.

1.Well, let's get started.

2.Well, this is how we see it.

3.Oh, I am afraid these periods are too long.

4.We cannot agree with you.

5.These are in fact the usual periods.

6.It's pretty normal in this kind of operation.

7.I see what you mean.

8.But that would be difficult.

9.I am afraid I cannot agree to that.

10.Well, you are really asking us for something that is very difficult.

11.I've already offered you seven weeks.

12.I've got a proposal.

13.Well, on that basis I suppose we might be able to look at some kind of arrangement.

14.Let's consider it settled.

15.I'm glad we have come to an agreement.

III. Repeat the words:

–with which the seller started to speak about the business which the buyer used mentioning they required the machine urgently;

–how the seller proposed to deliver the machine, justifying the proposal the buyer used to insist on an earlier delivery.

IV. Sum up:

–what the buyer's position was;

–what the seller's position was;

–to what agreement the parties came.

V. Reproduce the dialogue making it shorter.

UNIT 7

PRICES AND TERMS OF DELIVERY

When sellers quote prices in their offers they usually state on what terms, at this price, they will deliver the goods. The price will certainly depend on the terms of delivery. The most popular terms of delivery in foreign business transactions are:

–fob (free on board);

–cif (cost, insurance and freight);

–с & f (cost and freight);

–for (free on rail).

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If the goods are offered on fob terms the price will practically include the cost of the goods and transportation expenses to the port of shipment.

If the goods are offered on cif terms the price will cover the cost of the goods, insurance expenses and freight or transportation expenses, to the port of destination. If the goods are offered on с & f terms the price will cover the cost of the goods and freight to the port of destination. If the goods are offered on for terms the price will include the cost of the goods and transportation expenses to the railway station only. These terms are similar to fob terms. The only difference is the mode of transportation. In case of fob terms the goods are shipped on board ships. In case of for terms the goods are transported by railway.

Here are a few examples of how terms of delivery can be mentioned in offers:

–The price is USD 2,000.00per ton fob New York.

–The quoted price is GBP 1,200.00 each cif Murmansk.

–We can offer the goods at the price of GBP 78.00per metre с & f Liverpool.

–The goods are offered on a for basis.

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Exercise

I. Complete the sentences, as in the text.

1.When sellers quote prices in their offers they usually ...

2.The price will certainly depend on ...

3.The most popular terms of delivery in foreign business transactions are ...

4.If the goods are offered on fоb terms the price ...

5.If the goods are offered on cif terms the price ...

6.If the goods are offered on с & f terms ...

7.If the goods are offered on for terms ...

II. Say what the following means:

–the fоb price;

–the for price;

–the cif price;

–the с & f price.

III. Translate the examples of how terms of delivery can be mentioned quoted in the text.

IV. Translate into English.

1.Цена составляет З тыс. долл. США, фоб, Рига.

2.Названная цена указана в английских фунтах стерлингов – 1300 за штуку, сиф, Одесса.

3.Мы можем предложить товар по 72 ф. ст. за метр на условиях фоб, Москва.

4.Товар предлагается на условиях франко, железнодорожная станция.

TERMS OF PAYMENT

Offers usually state the terms on which the goods are to be paid or terms of payment. Terms of payment usually mean the currency, time of payment, mode of

payment and many details.

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In foreign trade transactions various modes of payment are practised, among which the most popular are as follows:

–by a banker's transfer;

–by a letter of credit;

–for collection;

–by drafts;

–on an open account.

Sometimes mixed terms are practiced. That depends on the value of the goods, volume of the goods, time of delivery and many other factors.

Here is an example of how terms of payment can be stipulated in the offer for some expensive sophisticated equipment:

We propose the following terms of payment.

Ten percent of the total sum should be paid in advance by telegraphic banker's transfer.

Fifty percent of the total sum should be paid by telegraphic banker's transfer within 30 days after your bank receives shipping documents.

Forty percent of the total sum should be paid by drafts at 90 days' sight.

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Exercise

I. Translate into Russian:

–by banker's transfer;

–by a letter of credit;

–for collection;

–by drafts;

–on an open account.

II. Answer the following questions.

1.Do offers usually state terms of payment?

2.What particulars do terms of payment cover?

3.What terms of payment are practiced in foreign trade?

4.On what does the choice of terms of payment depend?

5.What example of terms of payment is quoted in the text?

III. Translate the quotation into Russian.

IV 4. Write a similar quotation changing the figures.

UNIT 8

CONTRACTS

After the prospective buyer receives the offer he carefully studies it. Then, very often, he has a few talks or exchanges letters with the prospective seller. After the two parties come to an agreement about terms and conditions of the transaction they sign a contract. Contracts usually contain the following information:

–date of the contract;

–place or city;

–reference number;

–names of the buyer and the seller;

–description of the-goods;

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–price and the total value;

–terms of delivery;

–terms of payment, etc.

Here is a part of a specimen contract:

Foreign trade company Chemico, Moscow, hereinafter referred to as the Sellers, on the one part, and Messrs. Petro Co., Liverpool, England, hereinafter referred to as the Buyers, on the other part, have concluded the present Contract to the following effect:

The Sellers have sold and the Buyers have bought on с i f terms 10 000 kgs. of Chemicals ST to be delivered in the fourth quarter of 1994. Partial shipments are allowed. The quality of the Chemicals is to be confirmed by certificate issued by a competent independent and recognized laboratory. The Chemicals are to be packed in plastic bags.

The price is 175 English pounds sterling per kilo сif Liverpool. The total value of the Contract is GBP 1750,000 (one million seven hundred and fifty thousand English pounds sterling).

The date of the bill oflading issued in the name of the Buyers is to be considered the date of delivery. Payment for the Chemicals delivered under the present Contract is to be made by a letter of credit on the presentation of the following documents:

–Sellers' Commercial Invoice;

–Full set of clean on board Bills of Lading;

–Quality Certificate issued by the laboratory;

–Weight Certificate issued by the recognized company;

–Certificate of Origin issued by the Chamber of Commerce and Industry;

–Insurance Policy issued by the State Insurance company. Payment is to be made through the National Bank, Liverpool.

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Exercises

I. Complete as in the text.

1.After the prospective buyer receives the offer he ...

2.Then, very often, he has a few talks or ...

3.After the parties come to an agreement ...

4.Contracts usually contain ...

II. Sum up what the text says about:

– the preparatory work before the contract is signed the usual information the contract specifies.

III. Answer the following questions about the specimen contract.

1.What two parties concluded the contract?

2.What goods were sold under the contract?

3.At what price were they sold?

4.When were the goods to be delivered?

5. How were they to be packed?

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6.What date was to be considered the date of delivery?

7.On what terms were the goods to be delivered?

8.What document was to confirm the quality of the goods?

9.How was payment to be effected?

IV. Translate into Russian the terms of payment stipulated by the contract.

V. Translate into English.

Платеж должен быть произведен по аккредитиву против следующих документов:

–коммерческий счет;

–полный комплект чистых бортовых коносаментов;

–сертификат качества;

–весовой сертификат;

–сертификат о происхождении;

–торгово-промышленная палата;

–страховой полис;

–гарантия первоклассного банка;

–документ на приобретение товара на условиях сиф, Ливерпуль;

–прайс-лист (175 англ. ф. ст. за метрическую тонну, на условиях сиф, Ливерпуль).

COMMERCIAL INVOICES

Commercial invoices are usually issued by sellers or sellers' banks after the goods are shipped. Together with shipping documents invoices are usually sent to the buyers’ bank for payment. Commercial invoices generally contain the following information:

–number and date of the invoice;

–number and date of the contract;

–date of delivery;

–number and date of the transport document;

–description of the goods;

–price per unit;

–quantity;

–total amount to be paid.

Here is a part of a specimen invoice

Invoice No R04-22

date: 27 November, 1994

Contract Reference: Contract 32-1 of 4 September, 1994

Payment terms: by letter of credit

Sold to: Petro Co., Liverpool, England

Shipped: by Hafta Co., Liverpool, England

Vessel: Alexander Pushkin

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Date of shipment: 20 November, 1994 Port of shipment: Riga

Port of destination: Liverpool Description: Chemicals ST cif Liverpool Quantity: 5000 kgs.

Unit price: GBP 175.00 per kilo Total amount: GBP 875, 000. 00 Currency: English Pound Sterling Bank: United Bank, Liverpool

I. Complete as in the text.

1.Commercial invoices are usually issued by ...

2.Together with shipping documents invoices are usually sent to ...

3.Commercial invoices generally contain ...

II. Sum up what the text said about invoices.

III. Say what information of the specimen contract the specimen invoice repeats.

IV. Answer the following questions about the specimen invoice.

1.On board what vessel were the chemicals shipped?

2.When were the goods shipped?

3.Were all the goods stipulated by the contract shipped?

V. Translate the specimen invoice into Russian.

VI. Translate into English:

–наименование товара;

–цена за единицу;

–цена за тонну;

–общая сумма к оплате;

–судно;

–порт назначения;

–наименование товара.

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UNIT 9

COMMINICATION IN BUSINESS

LETTERS

Business letters sent by phone or fax can be devoted to various subjects. Rather often after transactions are executed, payment problems arise and letters are sent then.

Here are three specimen letters sent by the sellers after the buyers have failed to pay for the goods received:

1.

Crowley and Bullock Ltd. 24 Hartley Lane

Real

Kent England

18th April, 19…

Dear Sirs,

We enclose a statement of account up to 30 th March , from which you will see that you owe us 2,850.00 for goods delivered in February.

As you know, our conditions of sale stipulate payment within thirty days. An early settlement would be appreciated.

Yours faithfully, Lewis Carol

for Chief Accountant

2.

Crowley and Bullock Ltd.

2nd May, 19…

Dear Sirs,

We have had no reply concerning the statement of account sent to you on 18th April.

We enclose a duplicate of our letter and the statement, and would urge you to give the matter your earliest attention.

Yours faithfully,

Chief Accountant

3.

Crowley and Bullock Ltd.

21st June, 19…

Dear Sirs,

We have not yet received payment of your outstanding balance of 2,850.00 Nor have we received acknowledgement of our letters of 18th April and 2nd May.

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