3. 25 сентября, 20... г.
Настоящим письмом сообщаем Вам, что мы завершаем выполнение контрактных обязательств по нашему контракту на строительство гидроэлектростанции в Вашей стране и проводим подготовительные работы к отправке в нашу страну части строительного оборудования и неиспользованных материалов, ввезенных в Вашу страну на условиях временного ввоза.
Как Вы знаете, в последнее время сложилась практика продажи строительного оборудования и неиспользованных материалов в стране заказчика по завершении работ, выполняемых на условиях «под ключ». Мы тоже намерены продать часть оборудования и материалов Вашей стране.
В связи с тем, что Вы выразили желание иметь право первого выбора при продаже нашего строительного оборудования, направляем Вам перечень оборудования и материалов, которые мы хотели бы продать Вашим компаниям.
Все оборудование находится в рабочем состоянии и будет продаваться с комплектами запчастей. Оборудование будет реализо-вываться по разумным ценам с учетом его амортизации.
Цены не включают таможенные пошлины. Они должны быть уплачены покупателем оборудования в соответствии с таможенными правилами Вашей страны.
Осмотр оборудования и материалов может быть произведен в любое удобное для Вас время.
в рабочем состоянии serviceable а реализовать оборудование to sell
комплект setп equipment
XIII. Readthe dialogue, sumup thecontents and actit out.
DISCUSSING PAYMENT OF RETENTION MONEY
Contractor: Mr G., we are surprised that you've withheld payment of the 5 % of the contract value which is due to us after the contract has been completed.
Customer: Mr I., it's a semi-turn-key contract and the 5 % is paid only after the project has been commissioned.
Contr.: That's true, but everyone here knows that we are not responsible for the delay. It happened because you didn't do the civil work in accordance with the schedule.
Cast.: Well, there is a delay, but the works are disrupted because you were late with the working drawings.
Contr.: Speaking about the working drawings, Mr G., you may remember that you made some alterations in the design just when we were discussing the project report.
Cast.: Yes, we did, but they were fairly slight.
Contr.: The alterations were slight but they were outside the design assignment. As a result we had to revise part of the drawings. So we don't really understand why you are now refusing to pay the retention money.
Cust.: It's a most frustrating situation and yet we believe that the sum should be paid when the project is commissioned. And what if we compensate you for part of your additional expenses? They may be incurred until the project is commissioned, we understand that.
Contr.: That's fair enough. But we want to be compensated in full.
Cust.: Any idea of how heavy your additional expenses may be?
Contr.: It's hard to say at the moment. We'll give you rough calculations by tomorrow.
Cust.: Good. Then, I think, we might break for lunch now.
Contr.: That would be very welcome.
|retention money сумма удержания to withhold payment приостановить платеж semi-turn-key contract контракт па условиях «полуключ»|
to revise drawings внести исправления в чертежи it's a most frustrating situation
эд. это очень неприятная ситуация
XIV. Give extensive answers to these questions.
1. What does turn-key construction imply? 2. Do turn-key contracts usually provide for credit facilities? 3. On what terms may credits be granted? 4. What services and works may credits cover? 5. What expenses in local currency does the contractor bear? 6. Why is the contractor interested in getting rather a high advance payment in local currency? 7. In what way does the customer usually make current payments in local currency? 8. What expenses in hard currency may the contractor bear? 9. Why does the contractor try to reserve the right to engage foreign subcontractors? 10. What side may provide building equipment for construction and on what terms? 11. Does the contractor always return building equipment and mechanisms back to his country upon completion of the construction? 12. Why do contractors sell part of their building equipment, transport vehicles and surplus materials in the country of the customer upon completion of the works? 13. Are import duties paid on building equipment and mechanisms when they are taken to the country for turn-key construction? 14. Who has first option in purchasing the equipment in question?
XV. Write letters based on the following situations.
1. Вы получили от заказчика замечания по вашему проекту контракта. Заказчик считает, что контрактная стоимость завышена в связи с завышением: 1) объема строительных работ; 2) стоимости выполнения отдельных работ; 3) стоимости реэкспортного оборудования. Напишите письмо заказчику, дав обоснование вашим расчетам стоимости контракта. Подробно остановитесь на замечаниях заказчика.
2. Ваша компания осуществляет строительство объекта на условиях «под ключ». Выполнение вами контрактных обязательств осложняется тем, что заказчик нарушает положения контракта в отношении условий платежа. Напишите письмо заказчику, указав на: 1) неоднократные нарушения условий платежа; 2) последствия вышеуказанных нарушений. Поднимите вопрос о предоставлении вам продления на завершение работ.
3. Ваша компания завершает выполнение обязательств по контракту на строительство объекта на условиях «под ключ». Вам необходимо решить все вопросы, связанные с оборудованием временного ввоза. В соответствии с имеющейся договоренностью вашему заказчику предоставлено преимущественное право покупки вашего строительного обо-
рудования и транспортных средств. Однако заказчик задерживает представление перечня необходимого ему оборудования. Напишите письмо заказчику: 1) напомнив о имеющейся договоренности в отношении оборудования временного ввоза; 2) сообщив подробности о возможности осмотра оборудования. Проинформируйте заказчика о своих действиях в случае дальнейшей задержки в получении информации от заказчика.
XVI. Act out these situations.
1. A foreign firm is interested in signing a turn-key contract with you. Discuss your future cooperation in general terms. Speak in particular on the terms of granting commercial credit. Give all necessary clarifications.
2. You have received your customer's comments on your draft contract. The customer finds the contract value overestimated. Discuss the hard currency part of the contract value, which, in the customer's opinion, is particularly overestimated. Give convincing explanations of your calculations.
3. Your customer has come to Moscow to discuss the part of the contract price which covers local currency expenses. The point of disagreement is the advance for mobilization works. Prove to the customer that the 20 % advance stipulated in your draft contract is reasonable.
XVII. Read the following excerpts from documents you may come across
in your business activity.
CONTRACT NO. ...
Terms of Payment
1. Payments on account of the credit extended by the Government of... the Government of... in accordance with the Agreement of March .. 20...
Payments on account of the state credit shall be effected in respect <5P the design works, deliveries of equipment to be manufactured in ... and materials according to с and f. prices, port of destination.
Invoices for design work subject to payment on account of the mentioned credit shall be presented as follows:
for 50 % of the cost — within 90 days from the date of the Contract coming into force;
for 50 % of the cost — within 30 days from the date of the handover of the drawings and diagrams.
Invoices for supplies of equipment and materials from ... — for 100 % of the price of each delivery, с and f. port of destination—shall be presented as the deliveries are effected. Simultaneously the amounts of the invoices presented for payment to the Bank of... shall be placed to the credit account the way it is envisaged by the Bank Arrangement.
2. Payments for deliveries of equipment and materials to be purchased for the project in third countries.
The payments for deliveries shall be effected in US Dollars in cash as follows:
10 % of the total price of deliveries shall be paid as advance payment by means of a cable transfer against a bank guarantee for the same amount within 30 days from the date of presentation of the bank guarantee by the Contractor;
90 % of the total price of deliveries shall be paid from the irrevocable, divisible, transferrable letter of credit which shall be opened by the Customer within 30 days from the date of cable notification of the Contractor of the readiness for shipment of the first batch of deliveries (delivery basis is subject to additional agreement).
The period of L/C validity shall cover the whole period of deliveries of equipment from third countries.
The amount of each invoice for deliveries shall be decreased by 10 %, i.e. proportionally to the amount of the advance payment received.
3. Payments for civil engineering, erection, commissioning and adjustment works.
Civil engineering, erection, commissioning and adjustment works shall be paid in cash:
50 % of the cost of works shall be paid in US Dollars and 50%—in ...;
10 % of the cost of works in US Dollars and 10 % of the cost of works in .. shall be paid as advance payment against a bank guarantee for the same amounts;
80 % of the cost of works shall be paid against the certificates on actual execution of works each month;
5 % of the cost of executed works shall be paid against notification of the Customer that a section of the Plant is complete and ready for commissioning;
5 % shall be paid against Final Taking-Over Certificate.
For payment of 50 % of the cost of works in US Dollars the Customer shall open an irrevocable, divisible, transferrable letter of credit within 30 days from the date of cable inquiry of the Contractor.
50 % of the cost of works in ... shall be paid by way of crediting ... to account No. ... of the Bank of... with the Central Bank of... .
4. Payments for the construction of the housing settlement for ... citizens.
Payments for the deliveries of equipment and materials from third countries for the construction of the housing settlement shall be effected in US Dollars, namely:
10 % of the price shall be paid in US Dollars as advance payment;
90 % — as the deliveries progress from an irrevocable, divisible, transferrable letter of credit which shall be opened within 30 days from the date of cable notification of the Contractor of the readiness of the first batch of equipment for shipment.
The rest of the terms and conditions of payments for deliveries from the letter of credit are identical to those terms and conditions of payments for the deliveries of mechanical equipment which are mentioned in para 2.
Payments for civil engineering and erection works connected with the construction of the housing settlement shall be effected in ... and US Dollars. Percentage breakdown of payments by currencies shall be carried out upon receipt from the Customer of detail materials on housing settlement construction, while:
10 % of the price shall be paid as advance payment;
90 % — as the works progress, on the basis of certificates wherein the volumes and cost of works executed each month shall be determined.
5. Payments for cargo transportation.
Payment of all expenses connected with the unloading and storage of cargoes at the port, loading and transportation up to the construction site, fulfilment of customs formalities, as well as the Contractor's fee in an agreed upon amount for implementing supervision over the transportation and mentioned operations shall be effected in the currency of the expenses and shall* constitute actual expenses.
Each quarter a month prior to the beginning of the next quarter the Contractor shall submit to the Customer an invoice and tentative calculation of forthcoming expenses.
The amount paid the previous quarter shall be taken into account for adjustment of current payments submitted by the Contractor.
6. Performance bond.
The Contractor shall provide to the Customer's satisfaction an irrevocable letter of guarantee for a sum equal to ... per cent (... %) of the total Contract Price within fifteen (15) days from the date of the signature of the Formal Contract by both parties.
This bond is given to cover the advance payment to be given to the Contractor as per Clause ... (Terms of Payment).
This letter of guarantee shall continue to be valid until the presentation of the Final Taking-Over Certificate.
subject to зд. подлежащий cable inquiry телеграфный запрос
to pay in cash платить наличными
XVIII.a) Write down 3-5 questions on the text.
b) Describe the purposes for which the organization was set up.
YOUR PARTNER EBRD
The EBRD (European Bank for Reconstruction and Development) is a multinational institution set up with the specific aim of assisting the countries of Central and Eastern Europe to develop into market-oriented economies. Its 59 shareholders include countries from both this region and the rest of the world, plus the European Community and the European Investment Bank.
The strongest comparative advantage of the Bank relative to other international financial institutions lies in its ability to operate both in the public and private sectors and to have at its disposal the broadest range and flexibility of financing instruments. The Bank is uniquely equipped in both staff and range of instruments to support the different stages of transition.
Specifically, the EBRD seeks to promote the development of the private sector within these economies for its investment operations and through the mobilization of foreign and domestic capital. In relation to private commercial banks, the EBRD's main advantages lie in its willingness and ability
to bear risk. This allows the Bank to act at the frontier of commercial possibilities. It also shares the project risk by acting with other private sector entities, such as commercial banks and investment funds, as well as multilateral lenders and national export credit agencies.
While its structure is unlike that of a commercial bank, the EBRD has a similar approach to dealing with projects and it prices its products on commercial basis. With its AAA credit rating, the Bank is able to raise funds at the finest rates from the international capital markets.
For a project to be considered it has to be commercially viable. The Bank does not issue guarantees for export credits or provide retail banking services.
Foreign joint ventures are one of the EBRD's main vehicles for financing; joint ventures offer partners an effective way to gain access to foreign and domestic markets, encourage foreign private investments in the region, reduce risk, and facilitate the transfer of technology and management skills.
shareholder n акционер to bear risk нести риск
relative to относительно multilateral lenders многосторон-
flexibility n гибкость ние кредиторы
specifically adv зд. конкретно AAA credit rating показатель кре-
in relation to что касается дитоспособности AAA
willingness n готовность viable а жизнеспособный
XIX. Sum up the text in 5-7 sentences.
WORLD BANK - INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (IBRD)
The "World Bank" refers to the International Bank for Reconstruction and Development (IBRD) and its affiliate, the International Development Association (IDA). The Bank was set up together with the IMF by the Bretton Woods Conference of 1945 as an international bank for two purposes: to help finance the rebuilding of war-devastated areas and to aid the advancement of less-developed countries.
Operations started in 1946. The Bank is financed partly by contributions paid by member countries, partly by bond issues. The national contributions constitute the bank's capital and relate to the individual countries' share of world trade. The bond issues finance the lending operations of the bank.
In financing the economic growth of member countries the International Bank complements the IMF, which finances temporary balance of payments imbalances. Loans are made to governments or government-guaranteed entities. Besides lending funds, the Bank provides technical advice to governments or other borrowers on a wide range of development problems. It carries out general economic surveys for governments wishing to study resources and to plan long-range policy of development.
At first devoted to the reconstruction needs of industrial countries the World Bank by the 1950s had focused its attention on the developing world. In 1956 the IBRD formed the International Finance Corporation (IFC) the purpose of which was to encourage growth in the private sector of developing countries and to mobilize domestic and foreign capital for this purpose. In 1960 the IBRD established the International Development Association in order to assist the poorer developing countries (those with an annual per capita GNP of less than $731 in 1980 prices). Loans to these countries bear no interest and are repayable over 50 years with an initial grace period of 10 years.
The Bank's strategy has been to ensure that its aid reaches the broad masses of the people; this is to be done by investments encouraging productivity and integrating the broad masses of people as active partners into the development process.
The powers of the Bank are vested in a board of Governors.
affiliate n филиал repayable а подлежащий погаше-
war-devastated areas разоренные нию (уплате)
войной территории grace period льготный период
bond issue выпуск облигаций integrate v интегрировать; зд. вклю-
complement v дополнять чать, вовлекать
survey п обследование vest v облекать, наделять властью
International Finance Corpora
tion Международная финансовая
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