Read and translate this text. Divide it into logical parts. Retell the text.
CONTRACT
I.
In foreign trade transactions a contract is drawn up to give legal expression to the intentions of the partners and to guarantee that the obligations contained in the contract will be fulfilled.
By law contracts are made in writing. Standard contracts are not a must. Some articles may be altered and supplemented. According to the purpose and contents, contracts can cover: goods, services, licences, patents, technology and know how.
As a rule the contract contains a number of clauses, such as: Subject of the Contract, Price, Terms of Payment, Delivery, Inspection and Test, Guarantee, Packing and Marking, Arbitration, Transport, Insurance and other conditions. Subject of the contract names the product for sale or purchase. It also indicates the unit of measure for specific goods, such as oil, wheat, etc.
The price stated in a contract may be firm, fixed or sliding.
Firm prices are not subject to change in the course of the fulfillment of the contract.
Fixed price is the price governing in the market on the day of delivery or for a given period.
Sliding prices are quoted for machinery and equipment which require a long period of delivery.
The contract also names the terms of delivery and delivery schedule which is usually given in the enclosure to the contract.
One of the essential clauses of the contract is the Guarantee Clause. It says that the supplied equipment and technological process should be in conformity with the latest technical achievements and in full conformity with the technical documentation, technical specifications and conditions of the Contract. If during the guarantee period the equipment supplied by the Seller proves to have some defects the Seller undertakes to correct these defects or to replace the defective equipment at his own expense.
Every contract names Insurance of Goods.
All sensible businessmen now insure goods for the full value in order to obtain indemnity () in case of damage or loss. insurance is against such risk as fire, burglary, pilferage, damage by water, breakage or leakage.
Every contract contains a Force Majeure (Force Major) clause. Force Majeure is a force against which you cannot act or fight. It usually includes natural disasters such as an earthquake, flood, fire, etc. It also names such contingencies as war, embargo, sanctions. The duration for a majority is 4-6 months.
foreign trade transactions
draw up
legal expression
Intention , , ; , ,
obligation ,
contain ,
fulfil
law ;
writing .
must ;
article ; ,
altered ;
supplemented -
according ;
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purpose , , ,
content - ; , ,
cover - , : ( -.)
licence - , , ;
patent - ;
know how -
as a rule - ,
a number of-
clause - ; ,
such as - ;
Subject - ,
Price - , ,
Terms of Payment -
Delivery - ;
Inspection - ; ;
Test -
Marking -
Arbitration - ,
Insurance -
other conditions - ,
name - , ,
sale - ; , ,
purchase - ; ;
also - , ,
indicate - ,
essential - ; ,
supplied - ;
conformity -
latest technical achievements -
specification - , ; ,
condition - ,
during - , ;
prove - ; ;
undertake - ,
replace - ; ; ,
defective equipment - , , ;
at his own expense -
responsible -
damage - ; ;
breakage - ; ; , ,
in order to - ,
obtain - ; ,
Indemnity - , ;
In case -
loss - ,
against - ; , , ,
such - ; -
fire
burglary -
pilferage -
leakage - , ,
Force Majeure (Force Major)
clause - ,
act or fight - id.
include - ,
natural disaster -
earthquake - ; ,
flood - ;
contingencies -
TASKS
1. Read the words to the text. Pronounce them correctly and learn their Russian equivalents:
| intention | - | supply | - |
| obligation | - | conformity | - |
| alter | - | damage | - |
| supplement | - | breakage | - |
| contents | - | insurance | - |
| subject | - | cancel | - |
| measure | - , | war | - |
| delivery | - | embargo | - ; |
| schedule | - , | , | |
| enclosure | - | sanction | - |
2. Give Russian equivalents to the word combinations. Use a dictionary and the text for reference:
to draw up a contract; to give legal expression to; to alter and supplement some articles; to contain a number of clauses; to indicate the unit of measure; to quote (to state) firm, fixed or sliding prices; to be subject to change; in the course of the fulfillment of the contract; at the seller's expense; to be improperly packed and marked; to refuse to accept the goods; to be made with indelible paint; a sensible businessman; to insure goods for the full value; to insure against risks; in case of damage or loss; in order to obtain indemnity; to have no right to claim any compensation.
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3. Answer the following questions to discuss the details of the text. Use the text for reference.
1. Why is a contract drawn up in foreign trade, transactions?
2. Is a contract made in writing or orally?
3. Must a contract have a standard form?
4. May any articles be altered or supplemented?
5. What kinds of contracts according to the purpose and contents are used?
6. What are the main clauses of a contract?
7. What does the subject clause of a contract name?
8. What kinds of prices may be stated in a contract?
9. Where is a delivery schedule usually given? 10.What does the Guarantee clause usually say?
10. Why is packing goods for export a highly specialized job?
11. Who is responsible for any breakage or damage of goods caused by improper packing?
12. How should marketing of goods be made?
13. Against what risks do all sensible businessmen insure goods?
14. Why does every contract contain a Force Majeure Clause?
4. Read the text with a dictionary. Make a list of new words and learn them.
