Task 3. Просмотрите бланк и ответьте на вопросы. Look at the letter of credit and answer the questions

Royal bank London, England	Letter of credit
Applicant Shan Import Co/ 176 Stepney Road London SE23 7HL U.K.	Beneficiary Rajah Tea Company 65 Gandhi Road Bombay 297645, India	Advising bank Anglo-Indian Bank Governor’s Bldgs. Bombay 273645, India
Reference no. HFDS9765	Date and place of issue 20 June 1999, London	Date and place of expiry 27 July 1999, Bombay
Transshipment [ ] Allowed [x] not allowed Partial shipment [ ] Allowed [x] not allowed	Amount Rs. 75 000 (seventy-five thousand rupees)
	Credit available with Anglo-Indian Bank, Bombay by negotiation against the documents named and beneficiary’s draft at 60 days drawn on Royal bank, London U.K.
Shipment/dispatch From Bombay	For Transportation to London	Not later than 6 July 1999
Documents to be presented 1. Commercial invoice in 6 copies indicating L/C number 2. Full set of clean bills of lading made out to order of issuing bank of L/C marked prepaid and notifying applicant also indicating this L/C number 3. Certificate of origin 4. Packing list These documents to be presented within …. Days of the issue of the transport documents but within the validity of the credit.
Instructions for advising bank Please advise beneficiaries of the opening of this credit, adding your confirmation. Method of reimbursement At maturity we will reimburse you according to your instructions Documents should be forwarded be us by air mail. James Anderson For Royal Bank

1. Who is the buyer?

2. Who is the seller?

3. Which is the opening account?

4. Which is the advising bank?

5. What kind of letter of credit is it?

6. What kind of draft will be attached to the transport document?

Check yourself:

Methods and terms of payment.

Переведите:

We prefer___________

-advanced payment

________________

-cash payment at discount of 10%

_______________________

-Payment order

____________________

-deferred payment

_______________

-payment by banker’s check

____________________

Payment is to be made through_______________

- irrevocable letter of credit

___________________

- divisible letter of credit

___________________

- confirmed letter of credit

_____________________

- documentary letter of credit

_______________________

We propose the following terms of payment_________________:

Ten percent of the total sum should be paid in advance by telegraphic banker’s transfer.

____________________________________________________________________

Forty percent of the total sum should be paid by drafts at 90 day’s sight.

________________________________________________________

Insurance.

Страхование товара.

Task 1. Translate the text.

The export trade is subject to many risks. Ships may sink or collide; consignments may be lost or damaged. So, the goods are usually insured now for the full value. The idea of insurance is to obtain insurance indemnity in case of damage or loss. Insurance is made against risk.

While the goods are in a warehouse, the insurance covers the risk of fire, burglary, etc.

As soon as the goods are in transit they are insured against pilferage, damage by water, breakage or leakage. Other risks may also be covered.

The insured is better protected if his goods are insured against all risks. The goods may be also covered against general and particular average. In the insurance business the word average means loss. Particular average refers to risks affecting only one shipper's consignment.

General average refers to a loss incurred by one consignor but shared by all the other consignors who use the same vessel on the same voyage.

Словарь

is subject to- подвергается the insured застрахованный

to sink -тонуть                                            general average общая авария
to collide- сталкиваться                                  particular average частная авария
consignment -груз, партия                              refers to... относится к...

to obtain получить to incur losses терпеть убытки
insurance indemnity страховое возмещение - consignor грузоотправитель -
warehouse - склад

(товарный) loss incurred by consignor-
to cover покрывать убыток, понесенный грузоотправителем

fire пожар leakage утечка

burglary кража со взломом to share делить(ся)

pilferage мелкая vessel судно

кража, хищение из отдельных мест груза voyage рейс

to insure goods with smb. застраховать товар

Task 2. Find in the text. Найдите в тексте и выпишите эквиваленты следующих выражений:

товары обычно страхуются на полную стоимость

получить страховое возмещение

товары застрахованы против хищения

страхование покрывает ущерб от пожара

товары застрахованы против всех рисков

в то время как товары находятся в складе

Task 3. Answer the questions. Ответьте на вопросы:

1. What are the risks to which the export trade is subject?

2. What does the word «average» mean in the insurance business?

3. What is the name of the biggest insurance company in Russia?

Тема 6

Претензии по контракту.

Contract clause about claims.

Грамматика: Модальные глаголы и их эквиваленты.

Translate the text.

A contract defines rights and obligations of the parties. In case of breach of contract the sufferer makes a claim on the party, which fails to meet its contract obligations. The Buyer makes quality and quantity claims on the Seller. This cause for complaint may be poor quality, breakage, damage, short weight etc.

What is a claim procedure?

The Buyer must write a statement of claim and mail it to the seller with the supporting documents: Bill of lading, Airway and Railway bill, Quality certificate may serve as documentary evidence. Claims can be lodged during a certain period of time which is fixed in the Contract. The Seller either meets or declines the claim.

The sanctions against the Seller

The Seller is penalized if he fails to deliver the goods by the day due. If the delay is longer than 2 months the Buyer can cancel the contract and the Seller is to compensate for the loss.

The sanctions against the Buyer

The Seller can make a claim on the Buyer if there is a default in payment.

breach of contract-нарушение контракта

the sufferer-пострадавшая сторона

claim-претензия

lodge a claim- подать иск, предъявить претензию

complaint-жалоба

a statement of claim- исковое заявление

meet the claim- удовлетворить иск

Decline the claim-отклонить претензию

short weight-недовес

penalize-штрафовать