III. Say what the following means:

the fob price;

the for price;

the cif price;

the с & f price.

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

V. Translate into English

1. Цена составляет 3 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 каф Москва.

4. Товар предлагается на условиях франко желез­нодорожная станция.

VI. Work as one group. Give the examples of terms of delivery in foreign business transactions Text 3 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.

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 practised. 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.

Text-study

I. Learn the following words

to transfer – переводить;

transfer – перевод;

money transfer – денежный перевод;

bank transfer – банковский перевод;

to make a transfer – произвести перевод;

letter of credit (сокр. l/c) – аккредитив syn. credit;

to collect – инкассировать, взимать;

collection – инкассо;

for collection – на инкассо;

on a collection basis – на основе инкассо;

draft – тратта;

to pay by drafts – оплачивать траттами;

a sight draft – тратта, срочная после предъявления;

30 days' sight draft – тратта, срочная через 30 дней после предъяв­ления;

account – счет;

to stipulate – обусловливать;

sophisticated – сложный;

shipping documents – отгрузочные документы;

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. What does the choice of terms of payment depend on?

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