Судоводы - 9 семестр / Видищева Т.В., Монастырская О.И. - English in Maritime Business and Law (2014)

Exercise 8. Translatefront Russian into English

П ретензии и санкции Контракт определяет права и обязанности сторон, вовлеченных в него.

В случае нарушения контракта пострадавшая сторона предъявляет иск той стороне, которая не в состоянии (to fail) выполнить свои обязательства. Чаще всего покупатель предъявляет иск продавцу, а предметом иска являются количество и качество.

Продавец подвергается штрафным санкциям (to be penalized), если он не

доставляет	груз к обусловленной дате. Размер штрафа оговаривается в разделе
«Ш трафные	санкции» (“Penalty Clause”) или в разделе «Согласованные и заранее
оцененные	убытки» (“Clause o f Agreed and Liquidated Damages”). Если задержка

превышает 2 месяца, покупатель может канцелировать весь контракт, но продавец должен компенсировать понесенные потери.

UNIT 3

TERMS OF PAYMENT

Vocabulary

•To grant - предоставлять

•To deduct - удерживать

•Bulk discount —оптовая скидка

• Early payment discount - скидка за предоплату

•Cash discount - скидка при оплате наличными

•Cash with order - оплата при заказе

•Reputable company - компания с хорошей репутацией

•Cash on delivery - оплата при поставке, «по факту»

•Carrier - перевозчик

•Payment on invoice - оплата по получении счета

•Right o f disposal - право распоряжения собственностью

•Commercial invoice - торговая счет-фактура

•Consular invoice - консульская счет-фактура

•Customs invoice - таможенная счет-фактура

•Pro-forma invoice - предварительная счет-фактура

•On approval - для ознакомления

•Indispensable - обязательный, непреложный

•Open-account terms - условия открытого счета

• Statement o f account - выписка по счету

•То owe - быть должным

•IOU (I Owe You) - долговая расписка

•То settle - расплачиваться, рассчитываться

•Debt - долг

•То retain - оставлять, сохранять

•То request a quotation - запросить ценовую политику

• By order o f - по поручению

• On behalfo f - от имени

Exercise 1. Read the text and answer the questions

When deciding on the terms of payment, the seller and buyer have to agree on: - When to pay ( for example, in advance, on delivery);

- How to pay (for example, cash, cheque, transfer);

- How much to pay (whether the seller is prepared to grant any discounts)

Types of discount

1. Bulk (quantity) Discount: granted when the buyer orders a large quantity. “If you order more than 300 units we’ll give you a 10% discount”.

2. Early payment Discount: granted when the buyer pays within a certain period of

time.

“If you pay within 7 days, you can deduct 5% from the price”. 3. Cash Discount: granted when the buyer pays cash.

“If you pay cash, we’ll give you 2% off’.

21

T h e te rm s o f p a y m en t d escr ib ed h ere a re all p a r tic u la r ly s u ita b le fo r d o m e stic

trad e .

C W O (C a sh W ith O rd er )

The buyer sends payment with his order. Because this term of payment carries a certain risk for the buyer, he will generally only agree to it in certain situations:

a)If he is doing business for the first time with a reputable company;

b)If the seller gives him a discount;

c) If he places a special, expensive order, the seller may ask for a part-payment to be sent with the order.

C O D (C a sh O n D e liv e ry )

The buyer pays the company which delivers the goods (for example, the post office or the carrier) at the time they are delivered. The Post Office offers a service by which they will deliver goods and accept payment on behalf of the supplier. The payment is then given to the seller.

Companies which don’t know anything about the financial standing of their customers prefer to use this term of payment.

P a y m e n t on in voice

The invoice is an important document in the export trade as copies may be required by banks, export/import agents, shipping companies, customs authorities and consulates. The invoice will be sent to the customer by post, or through an agent or a bank. In the case of single or isolated transactions, payment is then required, either before delivery or on delivery of the goods. The buyer receives an invoice on or after delivery which describes the goods delivered, the amount to be paid and the period within which the invoice must be paid (e.g. 14 days). This method of payment is called payment on invoice.

There are 4 main types o f invoice:

1. C o m m er cia l in v o ice

The commercial invoice is the seller’s formal request for payment. Along with the transport document, it is probably the most important paper needed in an export transaction, as it is also an essential component of certain methods of payment (for example, the letter of credit) and indispensable for customs purposes. Several copies are made.

The commercial invoice serves the following purposes:

a)It is a record of the transaction between the seller and the buyer, listing details of the goods, how much they cost and how they are to be transported.

b)It is the basis on which the customs authorities assess how much duty or tax is to be

paid.

c) It is used to confirm the value of the goods for insurance purposes.

2. P ro -fo rm a in v o ice

Unlike the commercial invoice, the pro-forma invoice is not a request for payment. Instead, it is a “sample” invoice, which may for example be issued:

a)When the buyer has requested a quotation;

b)When the seller sends the buyer goods on approval;

c)If the goods are to be sold by an agent, in which case the agent will need a pro­

forma invoice in order to be able to fix his own prices.

22

3 . C u sto m s in v o ice

Some countries may require the exporter to provide a customs invoice, a special invoice for the customs authorities of the importing country. This invoice is very similar to the commercial invoice, but requires additional information such as the domestic value and export price of the goods. With this information, the customs authorities can decide whether the goods are admissible (whether they can be allowed into the country) and how much duty is to be paid.

A customs invoice may be required in the following situations:

a)Where the value of the consignment is relatively high;

b)Where specific types of goods are being imported;

c)If the importer requires preferential treatment by the customs authorities, for example a lower rate of duty.

4. C o n su la r in v o ice

Certain countries, notably those in South America, may insist on a consular invoice as evidence that the goods being imported are not over-priced. A consular invoice is issued as follows:

a)The exporter buys the relevant forms from the consulate of the importing country located in his own country;

b)The exporter fills out these forms. This is no easy task as there may be up to 6 copies, and they all have to be perfect - if anything has been added or crossed out, the forms will be rejected;

c)The exporter takes a commercial invoice for the goods to be exported to the Chamber of Commerce. Here the invoice is stamped on the reverse side to confirm the origin of the goods (where they come from);

d)The exporter then takes all these forms - plus any others which may be required - back to the consulate;

e)Here the consulate invoice is legalized by the consul. This means that the exporter has to swear to the accuracy of the documents.

P a y m en t on statem en t

With reliable customers who place regular orders, the seller might agree to openaccount terms. Here the buyer doesn’t have to pay for every delivery separately. Instead, he receives a statement o f account every month or quarter which states the TTL (total) amount he owes the seller. He is then expected to settle a min amount of his debt (10% of the TTL amount, e.g.).

Payment on invoice and open-account terms can all be risky for the seller, as he is dependent on the buyer’s ability and readiness to pay. For this reason, he retains the title of the goods until they have been completely paid for. That means the buyer can use the goods but they remain the property of the seller until the buyer has made full payment. This ensures that the seller can get the goods back if the buyer doesn’t pay for them.

1.Compare CWO and COD.

2.Which o f the terms ofpayment described above are the mostfavourable for the seller and why?

3.Which o f the terms ofpayment described above are the mostfavourablefor the buyer and why?

4.Define the peculiarities o f invoice types. Which o fthem are used most and why?

5.What are the typical situationsfor their use?

23

Exercise 2. Remember thefollowing abbreviations and terms connected with invoicing and accounting. Learn them.

D r . (=	D e b it)
a /c (=	a c c o u n t)
b /f (= b r o u g h t fo r w a r d )

c.w .o . (= c a sh w ith o r d e r )

C r. ( = C r e d it)

c /f ( = c a r r ie d fo r w a r d ) B a l. ( = B a la n c e )

N /C ( = n o c h a r g e )

Exercise 3. Match theparts of an invoice with their titles

M E T R O P O L IT A N T E N N IS E Q U I P M E N T C O M P A N Y

					4019 Beach Boulevard South
				Los Angeles, California 90126
	Invoice			A	Telephone: [phone]
					Fax: [phone]
					e-mail: s
	Champion Sport Ltd. 71 Victoria Lane			Date 7th Mav 1999		B
	Stjohn’sWood		C
				Invoice No. 699
	London NW1 3PP____________________
	Quantity_________________Description					Amount
	160	Tennis Rackets
		120 o f‘GX 12’ model		D
		40 o f‘Tennis Pro’ model
		Ex-works price:

	GX 12 model £78 each		£14000
	Tennis Pro model £116 each
	All freight charges and export packing		£500	E
	Insurance from warehouse to warehouse		£90
F	c.i.f. London	Total	£14590	G
Marks	16 cardboard cartons -	H
and Nos.	10 per carton	I
	Import Licence No. BRX431999		J
MTE	K
CS LTD
LONDON
1-16	per pro
	Metropolitan Tennis Equipment

'RoBerto MoraCes

1.Cost of freight and insurance

2.Date of issue

3.Shipment terms

4.The export and/or import license numbers

24

5.The contents of individual packages

6.Description of goods

7.Exporter’s name and address

8.Total amount payable

9.Number and type of packages

10.Importer’s name and address

11. Marks and numbers on packages

Exercise 4. Read the explanation o f the invoice. Fill in the gaps using thefigures from the invoice

By looking at the invoice number______, you will notice that on the____________ , the Metropolitan Tennis Equipment Company of Los Angeles shipped a total of

_______ tennis rackets to Champion Sport Ltd. in London. The shipment included

______ of the GX 12 model priced a t_________and________ of the “Tennis Pro” model at_________, for a total of__________. The cost of freight was__________and the insurance from warehouse to warehouse was_______. The total amount to be paid by the UK importer was______________ . The rackets were packed in _______cardboard cartons,

_______ per carton, on which the words MET CS LTD. LONDON 1-16 were written. The import license number was _______________ . The invoice was signed by an official of the exporting company, Mr Robert Morales.

1. What is the total number of items?

2. What’s the price per item?

3.When can the above mentioned abbreviations be used?

Exercise 5. Scan the letter on granting open-accountfacilities. Answer the questions Homemakers are prepared to give credit even though they feel it may not be in the best interests of their customer

1.Why does M r C liff think it would be better for M r H ughes to settle invoices within 7 days?

2.Why doesn’t M r C liff need any references from M r Hughes?

3.W hen should M r Hughes pay

invoice D M 1113?

4.W hat form o f open account facilities is M r C liff offering?

HOM EM AKERS Ltd.

54-59 Riverside, CordiHCFl IJW

	Re^istorod No. Cl 35162
Mr R Hughes	24July 19—
R Hughes & Son Ltd.
21 Mead Road
Swansea
Glamorgan 3ST 1DR

Dear Mr Hughes,

Thank you for your order. No. B1662. which will be sent to you tomorrow. Ihave taken the opportunity to enclose the invoice. DM 1113, with this letter.

With regard to your request for open account facilities, settlement against monthly statement. I feel there would be more advantage for you in claiming the 3% cash discounts offered for payment within seven days of receipt of invoice. Nevertheless. I am quite prepared to allow monthly settlements, and there will be no need to supply references as you are a long-standing customer.

The enclosed invoice will be included in your next statement.

Yours sincerely,

Enc. Invoice DM1113

25

Exercise 7. Scan the requestfo r pro-forma invoice and answer thefollowing questions

( to conform to requirements - отвечать требованиям; to grant a rebate - дать скидку; to justify the concession - оправдать уступку; to open the L/C -открыть аккредитив)

10 April 20..

Diamantsagen Wilde GmbH

RitterstraRe 9

22089 Hamburg

GERMANY

Dear Mr Wilde

Our Enquiry PL/384 o f 2ndMarch 20—

Your Offer No. 58391 o f 21st March 2 0 -

We arepleased to inform you that your D X 33 saw-blades wholly conform to our quality requirements. We should therefore like to place an orderfor 25 units;providedyou can see your way clear to granting us afurther rebate o f 5% on your prices as quoted in the above-mentioned offer. Wefeel that the volume o f the order we are interested in placing wouldjustify this small concession.

However, to enable us to import these saw-blades into India we will need to apply fo r an import licensefrom our local Government authorities and would therefore ask you to send us a pro-forma invoice to include thefollowing details:

-exact description o f the goods -unit and totalprice with discounts

-terms o fpayments and delivery CIF Calcutta -packing list

We would be grateful i f you would send the pro-forma invoice by registered mail. As soon as we have received the import license, we shall telex our order to you and open the L/C with our bankers.

Yours sincerely...

1.Why can the consumers be given a 5% discount?

2.Why do they need a pro-forma invoice?

3.What details must be included in a pro-forma invoice?

26

Exercise 8. You are sending an invoice. Complete the letter; fill					in the gaps	using the
following English equivalents
subject	enclosed		to be dispatched	bank transfer		to be
shipped
premises	to settle	to arrive	early payment discount		all transport costs

You ref: FM/ly Our ref: SV/52/ip 7January 2007 Mr Arthur Jones

Laser Engineering Ltd Dear Mr Jones

Your order 835/YI o f 23 Dec 2007

We are pleased to inform you that the articles (были отправлены) by lorry yesterday. They (будут отправлены) across the Channel on board m/v Marina tomorrow and are due (прибыть) at your (офисные помещения) at the beginning o f next week.

Please find (прилагаемый) our invoice No.351685 T for $17,850.00 including (все транспортные расходы). We would ask you (оплатить) it either by (банковский перевод) or by cheque within 30 days, (подлеж ащий^ the usual (скидка за npedoruiamy)of3 per cent

We trust that you will receive the goods in perfect condition and remain at your serviceforfurther deliveries at any time.

Yours sincerely_____________________________________________________________

Exercise 9. Translatefrom Russian into English

Инвойс - счет-фактура - оформляется, как правило, посредством заполнения стандартной формы и выдается продавцом покупателю для расчетов по отдельным операциям. Содержит обычно следующие данные: имя и адрес покупателя; наименование товара и его цену; пункт, в который товар был доставлен или отгружен; дату совершения операции (сделки); условия продажи.

Некоторые счета-фактуры, особенно оформленные при международных сделках, содержат более подробную информацию, в том числе указание валюты, в которой должны производиться расчеты, условия отгрузки, описание маркировки на товарах или его упаковке и другие данные в соответствии с требованиями правительственных и/или таможенных органов.

UNIT 4

TERMS OF PAYMENT IN FOREIGN TRADE

Part 1

Vocabulary

•Timelag - временной лаг, отставание во времени, запаздывание, период ожидания

• Collection o fpayments - инкассо (получение денег по векселям)

• Cash against documents (CAD) - оплата по получении документов

• Documents against payment - документы после оплаты

•Transport documents - транспортная документация/накладная

•Remitting bank - банк-плателыцик; банк, переводящий денежные средства

•Collecting bank - банк-получатель; банк-инкассатор

•A draft - платежное поручение

•Perishable goods - скоропортящийся груз

• То dispatch - отправлять, отгружать

•То seal the goods - опечатывать товары

•То issue - выдавать

•A bill o f exchange -* банковский вексель

• То draw a bill - выписать вексель

•A drawer - трассант; лицо, подписавшее вексель

•A drawee - трассат; лицо, на которое выставлена тратта

•First/second bill o f exchange - первый/второй экземпляр векселя

•Maturity - дата, срок выплаты

•То accept - акцептировать, принять к оплате

•Acceptance - акцепт; согласие на оплату денежных и товарных документов

•A sight bill - вексель к оплате по предъявлению

•A time bill - вексель со сроком оплаты

• A term bill - вексель с оплатой в течение указанного срока

•A date bill - вексель с указанной датой оплаты

•A clean bill - чистый вексель

•То endorse the bill - индоссировать документ, сделать передаточную надпись

• At a current rate o f exchange -по текущему курсу обмена валюты

• Dishonoured- не оплаченный в установленный срок

Exercise 1. Read the text and answer the questions

When it comes to dealing with money, the banks provide a variety of services essential to trade and to the economy of a country. They not only see to it that justice is done to both buyer and seller, but that the timelag between order and delivery is overcome without loss to either party. These services have to be paid for, but are not expensive and are almost indispensable - the bank comes into every transaction at some stage or another. That’s why, the buyer and the seller work in close collaboration with their banks and carriers.

Banks play a vital part. Their services to exporters and importers include:

1.Handling of shipping documents

2.Collection of payments

3.Observance of buyers’ conditions of purchase

28

4.Discounting bill of exchange (B/E)

5.Loans to exporters

6.Acting as agents for foreign banks and their customers

Payments in foreign trade may be made by:

1.Banker’s transfer (draft)

2.Bill of exchange (B/E)

3.Letter of credit (L/C)

As well as in the local trade, payment may be made a) in advance; b) on open account.

Payments in advance are used 1) when a buyer is in urgent need; 2) when a buyer is unknown to the seller; 3) in the case of a single isolated transaction. The method of payment will be by banker’s draft or transfer.

Open account terms are granted by a seller to a buyer of unquestionable reputation in whom he has complete confidence, regular customers, and agents. Payment is made quarterly by bill of exchange or banker’s draft.

The Banker’s transfer

This is a simple transference of money from the bank account of a buyer in his own country to the bank account of the seller in the seller’s country. It’s necessary for the buyer or a debtor to send a letter of instruction to his bank - or use a special form. The transfer is carried out at current rates o f exchange. Such transfers are subject to any exchange control regulations of the countries concerned.

IG/PO

26 June 2007 Benson Bankpic 34-38 Market Place

NEW MALDEN KT3 5TZ Dear Sir

OurAccount No. 789315

Please transfer the sum of J5,423.00

to the account of Esser & Co., Wirtschaftswerbung GmbH in Witten, Germany in respect of their invoice No. 92/4/A USLJ4093.

The account details are asfollows:

Account holder: Esser & Co.

Account No.: 789046001

Branch Code: 45240056

We would be grateful if you would arrangefor payment to be effected by SWIFT to ensure that thefunds arrive by the end of the month.

Yoursfaithfully

VANTAGEAD VERTISING Iain Gowe

European Campaigns Manager_______________________________________ _____________________

(in respect o f - касательно; account holder - дерэ/сатель счета; branch code - банковский код; arrangefo r - принимать меры, обеспечивать; ensure - обеспечивать;

29