1. ….is abbreviated as an LC or L/C, and often is referred to as a documentary credit, a document issued mostly by a financial institution, used primarily in trade finance, which usually provides an irrevocable payment undertaking.
2. ….is a commercial document issued by a seller to the buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer.
3. …is a written order to pay money. Its common type is the cheque (check in American English), drawn on a banker and payable on demand.
4. Companies can send … to their business partner when they need information about the goods they'd like to order.
II Reading.
Exercise 4. Read the text A:
BUSINESS CORRESPONDENCE
Business correspondence includes all kinds of commercial letters, inquiries, replies to inquiries, Letters of Credit (L/ C), invoices, Bills of Lading (B/L), Bills of Exchange or drafts, letters of insurance, explanatory letters, orders, letters of packing, letters of shipment, letters of delivery, offers, letters of complaint, replies to those of mentioned above, etc. Rules and traditions of correspondence vary in time but some basic principles of a commercial letter remain unchanged.
A private business letter is written by hand, each paragraph begins with an indented line. But if a letter is sent by an organization it is typed on the form of this organization. In this case it is not necessary to use indented lines.
A letter can be typed on the organization's form. Any form has its letter-head printed typographically. The letter-head bears the name of organization or firm, sending this letter, its address, address for telegrams, telephone, telex, fax, e-mail. If you do not use the form, write your address (as a sender) on the upper right side of the letter. Do not indicate your name here, it will follow your signature. Ukrainian names of foreign trade organizations are not translated into foreign languages. They are written with Latin letters using English transcription. Your telephone number may be written below.
The address of the recipient (inside address) is written on the left above, under the reference. Lower, the name of the firm is written under which the number of thehouse, street, city or town, state or a country are indicated, the last element should be the country.
The salutation is written on the left (not in the centre).
The salutation "Dear Sir" is appropriate, when you write to a real person if you do not know him. If you know this person, you should write "Dear Mr Jones", for example.
If the letter is addressed to a firm, the salutation should be "Dear Sirs'. In modern business correspondence it is needless to use any other forms of politeness.
In the subscription the expression "Yours faithfully" is usually used if you are not acquainted with the person(s) or "Yours sincerely" if you write to a man (a woman) whom you know at least by correspondence. In American English the above expressions are rarely used. More common are the expressions "Sincerely yours", or simply "Sincerely", and sometimes "Very truly yours".
The signature is affixed by hand above the typed name of the author. It is not obligatory to indicate your position. If near the signature there are two letters "p.p." (per pro) it means that the letter is "by warrant".
The heading may be written above the main text of the letter. The heading indicates short contents of the letter or its subject.
If some material is added to the letter the words "Enclosure" ("Enclosures") or the abbreviation "End" (додаток або додатки) are written in the left lower corner of the letter. You can also use the expression "We enclose..." (додаємо...).
Exercise 5. Say if the following statements are true or false:
1. Rules and traditions of correspondence don`t vary in time and remain unchanged.
2. A private business letter is usually printed on a form.
3. The letter-head contains the name of organization or firm, sending this letter, its address, address for telegrams, telephone, telex, fax, e-mail.
4. Ukrainian names of foreign trade organizations are translated into foreign languages.
5. When you write to a real person if you do not know him you can use the salutation "Dear Sir".
6. "Yours sincerely" is used if you write to a man (a woman) whom you know at least by correspondence.
7. It is obligatory to indicate your position affixing the signature.
Exercise 6. Answer the questions:
1. What types of commercial letters does business correspondence include?
2. What is the organization`s form?
3. Where is the address of the recipient written?
4. What salutation should you use when you know very well the person you write to?
5. What subscriptions are common for American English?
6. What does the indication "p.p." mean?
7. When are the words "Enclosure" ("Enclosures") or the abbreviation "End" added?
Exercise 7. Read the text B:
