to transfer -
transfer -
money transfer -
bank transfer -
to make a transfer -
letter of credit (. l/c) - syn. credit
to collect - ,
collection -
for collection -
on a collection basis -
draft -
to pay by drafts -
a sight draft - ,
30 days' sight draft - , 30
account -
to stipulate -
sophisticated -
shipping documents -
II. Translate into Russian:
by banker's transfer
by a letter of credit
for collection
by drafts
on an open account
III. 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 practised 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?
IV. Translate from Russian into English:
; ; ; ; , ; ; ; ; ; ; ; ; ; ; CIF ; , 5; ; , ; ; ; , .
V.Translate the following part of contract into Russian and answer the questions:
The Seller will take care of, and bear all the expenses connected with, obtaining the necessary license for exporting the goods under the present Contract from the Port of Origin to the Ukraine.
Not later than a month from the effective date of the Contract, the Seller is to advise the Buyer if the export license has been granted or is not required.
If the Seller is unable to obtain the export license and the Buyer is unable to obtain the import license within the time stipulated above, or the export/import license is revoked by the appropriate authorities of the Seller's/Buyer's country before the deliveries are completed, the Seller/Buyer will have the right to cancel the Contract wholly or partially.
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a) Who is supposed to obtain the export/import license?
b) What right will the parties exercise if the appropriate authorities revoke the import/export license?
VI. Work as one group. Decide which type of contract is characterized by the following descriptions:
a) the terms of delivery in accordance with which the Seller pays for transportation and insurance of goods until they arrived at the ship and the Buyer pays for loading the goods;
b) the terms of delivery in accordance with which the Seller pays for transportation and insurance of goods to the point of loading and their shipment on board a ship;
c) the terms of delivery in accordance with which the Seller pays for loading and transporting goods but the Buyer pays the insurance costs once the goods have been loaded;
d) the terms Of delivery in accordance with which die Seller pays for transportation to the port of destination, costs of loading and arranges marine insurance of the goods for the time of transportation.
VII. Which word combination is odd in the following list?
bill of lading certificate of origin
waybill packing sheet
shipping specification delay in delivery
certificate of quality insurance policy
