- •Vocabulary Notes on the Text
- •Exercises on the Text
- •8. Retell the text according to the following plan:
- •Vocabulary and Speech Exercises
- •9. Insert appropriate prepositions:
- •10. Give the English equivalents of:
- •11. What do we call?
- •12. Read and translate the following text using a dictionary if necessary:
- •13. Choose corresponding Russian terms for:
- •Answer the following questions:
- •15. Say whatever you know about:
- •Episode 2 Free Economic Zones (fez)
- •Vocabulary Notes on the Text
- •Exercises on the Dialogue
- •Read and translate the dialogue.
- •Give English equivalents of the following Russian phrases:
- •3. Answer the following questions:
- •4. Retell the dialogue:
- •Vocabulary and Speech Exercises
- •5. Read and translate the following dialogue. Report it as close to the text as possible.
- •6. Explain the meaning of the following terms in English:
- •7. Make up sentences of your own to illustrate the meaning of the following terms:
- •Give a free translation of the following text in English in the form of a dialogue between a customs official and an interviewer. Work in pairs:
- •Writing practice Despatch of Goods: Packing and Marking
- •Vocabulary Notes on the Text
- •Exercises
- •7. Answer these questions:
- •8. Insert appropriate words given below and translate the letter:
- •9. Translate into English:
- •Make up a letter from your firm to an English engineering firm ordering some special machine. Give packing and marking instructions.
- •Write a letter of order using the information given below and some other details about packing and marking given in the main text.
- •Speech practice
- •1. Role-play. Express your agreement with the following statements. Add whatever information you can. Use the following formulas of agreement:
- •2. What do you think would happen if:
- •3. Role simulation. Discuss the following points:
- •4. Make up a report on one of the following topics:
- •Unit 2 episode 1 Export-Import Documentation
- •Vocabulary Notes on the Text
- •Exercises on the text
- •5. Answer the following questions:
- •6. Sum up the contents of the text according to the following plan:
- •Vocabulary and Speech Exercises
- •7. Read and translate the following:
- •8. Ask questions in English to which the following Russian sentences are the answers and supply the answers:
- •9. Denote the following by a single word:
- •Read and translate the text: Customs Documents
- •12. Say whatever you can about:
- •13. Retell the text "Customs Documents" enlarging it by any additional information. Episode 2 Customs Control of the Cargo
- •Vocabulary notes on the text
- •Exercises on the Dialogue
- •Read and translate the dialogue.
- •Give the English equivalents of:
- •3. What do we call?
- •4. Explain the meaning of the following terms in English:
- •5. Answer the following questions:
- •6. Reproduce the dialogue in parts.
- •Vocabulary and Speech Exercises
- •7. Conduct the following two-way translation:
- •8. Choose corresponding Russian words for:
- •9. Explain the following terms in English:
- •10. Complete the following sentences:
- •11. Complete the dialogues and reproduce them in parts:
- •Customs Inspection of the Baggage
- •12. Translate into English:
- •13. Make up short dialogues discussing the following points:
- •Writing practice Shipping and Forwarding1
- •Vocabulary Notes on the Text
- •Exercises
- •1. Read and translate the text.
- •2. Translate the following words and phrases and learn their pronunciation:
- •3. Give English equivalents of the following Russian words and expressions:
- •4. Answer the following questions:
- •5. Sum up the contents of the text according to the plan:
- •6. Translate the letter from the shipping agent to the exporter:
- •7. Translate the letter into English:
- •Write a letter to a firm of shipping agents in Finland and ask them to quote for the collection of some cases of tools from a firm in Helsinki and the shipment of them to your nearest port.
- •1. Role-play. Agree or disagree with the following statements. Give your reasons. Use these formulas:
- •2. Say a few words about:
- •3. .Express your views on the following statements:
- •4. Role simulation. Make up dialogues on the topics below and act them out.
- •Vocabulary Notes on the Text
- •Exercises on the Text
- •5. Sum up the contents of the text according to the plan:
- •Vocabulary and Speech Exercises
- •6. Complete the following sentences using appropriate words and word expressions below:
- •7. Give English equivalents of:
- •8. Make up questions in English to which the following Russian sentences would be the answers. Do a two-way translation, using both the statements and the questions:
- •9. Say a few words about:
- •10. Give a free translation of the following:
- •11. Speak on:
- •Episоde 2 a Fresh Look at Customs Intelligence1.
- •Vocabulary Notes on the Dialogue
- •Exercises on the Dialogue
- •1. Read and translate the dialogue.
- •2. Find in the text English equivalents of the
- •3. Answer the following
- •4. Sum up tbe contents of the dialogue according to the plan:
- •Vocabulary and Speech Exercises
- •5. Read and translate the following text:
- •6. Give English equivalents to the following words and phrases from the text above:
- •7. Give the main ideas of the text of Exercise 5 in the form of a dialogue an interviewer and a customs official. Use the collocations of Exercise 6.
- •8. Complete the following dialogue:
- •9. Translate into English:
- •10. Conduct a two-way translation:
- •Writing practice Chartering of Ships
- •Vocabulary Notes on the Text
- •Exercises
- •5. Sum up the contents of the text according to the following plan:
- •6. Translate the following letter
- •7. Write to some ship brokers and ask them to charter a ship for loading of a cargo of oil; give them necessary particulars about port and time.
- •8. Write a letter from a ship broker concerning the shipment to the usa and point out the need for speed because of the probable closing of certain ports due to ice. Speech practice
- •1. Agree with the following statements. Enlarge upon the matter:
- •2. Discuss the following points:
- •3. Speak about:
- •4. Make up dialogues and act them in pairs:
- •Vocabulary Notes on the Text
- •Exercises on the Text
- •1. Read and translate the text.
- •2. Translate the following words and learn their pronunciation:
- •3. Give English equivalents of the following:
- •4. Explain the meaning of the following in English:
- •5. Answer the following
- •Vocabulary and Speech Exercises
- •6. Fill in the required prepositions:
- •7. Read and translate the text. Pay attention to the words in bold type:
- •8. Give English equivalents to the following Russian terms:
- •9 What do we call?
- •10 Translate into English:
- •Episode 2 Terms of Payment Over a Phone
- •Vocabulary Notes on the Text
- •Exercises on the Dialogue
- •Vocabulary and Speech Exercises
- •7. Read and translate the following dialogue. Act it out in pairs.
- •8. Give English equivalents of the following:
- •9. Translate into English:
- •Writing practice Settlement of Accounts
- •Vocabulary Notes on the Text
- •Exercises
- •1. Read and translate the Text.
- •2. Translate the following words and learn their pronunciation:
- •3. Give English equivalents for the following:
- •4. Answer the following questions:
- •5. Fill in the necessary prepositions:
- •6. Translate the letter into English:
- •Speech practice
- •2. Say a few words about:
- •Vocabulary Notes on the Text
- •Exercises on the Text
- •1. Read and translate the text.
- •2. Translate the following words and learn their pronunciation:
- •3. Answer the following questions:
- •Vocabulary and Speech Exercises
- •Read and translate the text using the dictionary if necessary:
- •11. Ask eight questions about the previous text.
- •12. Give a free translation of the text:
- •13. Speak about insurance in Russia, using the vocabulary of Episode 1 and Exercise 12. Episode 2 Making an Insurance Claim
- •Vocabulary Notes on the Text
- •Exercises on the Dialogue
- •Vocabulary and Speech Exercises
- •9. Read and translate the following dialogue:
- •10.Give English equivalents of the following:
- •11. Report the dialogue in detail:
- •12. Translate into English:
- •Writing practice Complaints and Replies to Complaints
- •Vocabulary Notes on the Text
- •Exercises
- •Read and translate the text.
- •Answer the following questions:
- •Translate into English:
- •Speech practice
- •I don' think so.
- •2. What do you think could happen if:
- •3. Role simulation. Discuss in the form of the dialogue:
- •4. Speak on the following topics:
2. Discuss the following points:
Customs regulations are too strict in our country.
A Customs officer should have a special training to carry his
3. Speak about:
the procedure of customs clearance;
the role of Customs Intelligence.
4. Make up dialogues and act them in pairs:
between an interviewer and a Customs official Customs Investigation Department;
between a customs officer and a passenger trying to carry out restricted and prohibited articles.
UNIT 4
PAYING IN FOREIGN TRADE
EPISODE 1
Types of Payments in Foreign Trade
Payment of goods supplied in the local trade is a rather matter. It is made either in advance or within a sensibly short period after delivery. If a buyer fails to pay, there comes legal action1 after which payment can be enforced.
The matter is different in foreign trade because a great deal of time is spent on correspondence, despatch and delivery. It is here that banks play a fundamental part. Their services have to be paid for, but are not expensive and always necessary – the bank comes into each transaction at this or that stage.
Payments in foreign trade are usually made by:
1. banker's transfer;
2. bill of exchange;
3. letter of credit.
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 2) when a buyer is unknown to a seller; 3) in the case of a single isolated transaction. The method of payment in these cases will probably be by banker's draft or banker's transfer.
Open account terms are granted by a seller to a buyer of unquestionable reputation2 in whom he has complete confidence, e.g. regular customers, agents or distributors. In these cases payment is made quarterly by bill of exchange or banker's transfer.
The banker's transfer is a mere 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 is only necessary for the customer to send a letter of instruction to his bank — or use a special form. The transfer is executed at current rates of exchange3 and subject to any exchange control regulations of the countries concerned.
The bill of exchange (B/E) is a written order from a creditor to a debtor to pay on demand or at a specified date a stated sum of money to a person named on the bill, or to his order. The bill is drawn by the creditor on the debtor, and is sent to the debtor or his agent to pay or accept4 (to acknowledge the debt). The debtor accepts it through signing his name on the front of the bill, together with the date. The bill becomes now legally binding5, and the acceptor must meet it at or before the due date. Failure to meet the bill on the due date will result in total discredit for the creditor, and legal action can follow. An unpaid bill is called "dishonoured"6, and the creditor can protest7 it, which gives him the right to prosecute8 the debtor.
The letter of credit (L/C) is the most generally used method of payment in the export trade. It starts with the buyer who instructs his bank to issue the L/C for the amount of the purchase and in favour of the seller. The buyer's bank sends this instruction, a special printed form containing full details of the transaction, to its agent (a bank cooperating with it) in the seller's country. On receiving the instruction, the agent bank informs the seller about the credit. The seller can now carry out the buyer's order, knowing that when he has done so, the money will be paid at once by the agent bank. The buyer is equally secure, because the agent bank will pay on his behalf only if the conditions of the transaction are completely executed by the seller.
A L/C may be paid to the seller not immediately upon execution of the order. If there is an agreement between the seller and the buyer the agent bank can accept a bill of exchange drawn by the seller on the agent bank. The buyer gets credit and the action is absolutely safe for the seller, who can discount the bill for ready cash if he needs it.