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Discussing Terms of Payment.

There are different manners of payment accepted in foreign trade: payment on an open account, which is usually effected against documents and sometimes by installments if agreed between the parties; payment for collection; by a draft which is an order in writting drawn on a bank or another firm to pay at sight, when it is presented or a certain number of days later. The most generally practiced manner of payment is by a Letter of Credit which may also be effected by installments in case of partial deliveries.

Since the terms of payment in a contract are very often a combination of different manners an advance payment can be specified too.

Payment in cash is very infrequent and is practiced in small transactions only.

Here is an example of a transaction discussed between a Russian foreign trade organization and Wright & Co., Ltd., known as very reliable exporters of up-to-date industrial chemicals and chemical laboratory equipment from England.

An exchange of correspondence took place between the parties concerned and was followed by Mr. Smoke’s visit to Moscow.

2) Ответьте на следующие вопросы:

1. What are the most accepted manners of payment in foreign trade?

2. What is the most generally practiced manner of payment?

3. What is an advance payment?

4. When is payment in cash practiced in?

5. In what way is payment on an open account usually affected?

6. On whom are drafts drawn?

7. What does Wright & Co., Ltd. deal with?

8. What was followed by Mr. Smoke’s visit to Moscow?

3) Найдите в тексте английские эквиваленты следующих выражений:

1. …платеж с открытого счета…

2. …платеж иногда производится частями.

3. …расчет в форме инкассо…

4. …платеж посредством траты…выставленной ва-банк…

5. …оплатить по предъявлении

6. …или несколько дней спустя

7. …между заинтересованными сторонами

4) Поставьте глаголы-сказуемые в соответствующей видовременной форме:

1. The sellers (to be worried about) the financial position of their agents.

2. After some slight repairs the plane (to take off) again.

3. We hope that we (to succeed) in clearing up the position and look forward on hearing from you soon.

4. I was relieved to hear that the appointment (to be not going) to take place.

5. John was a thorough and honest worker and everybody admitted that he (to deserve) higher wages.

6. We (to be concerned) about the results of the last test.

7. His careful study of the matter (to confirm) his serious approach to the problem.

5) Выпишите из текста “Discussing Terms of Payment” предложения, в которых глаголы-сказуемые употреблены в страдательном залоге.

6) Сделайте следующие предложения вопросительными:

1. We signed an agency agreement with the firm. (What?)

2. They contributed a lot to the success of the research work. (Where?)

3. The cost of freight was paid by the sellers. (Whom?)

4. The commission will provide us with only a small profit. (How?)

5. Rough calculations of the Buyers’ losses were made in the Sellers’ presence. (What?)