Leter of Payment.

New York City Bank

Rockroad Avenue, Bruklin 7

Telephone [phone]

Telex: Canberry Cn / 35/4

Fax: 457825

Mr. Stanislav Proskurin

N.A. Chief Executive Bank Manager

47 Rimsky Corsakovv Street

Bank Sankt Petersburg

Saint Petersburg

Dear Mr. Proskurin,

In accordance with our agreement, concerning the delivery of a garment consignment, orfer FJ/ 537, signed last month we are glad to assure you about our capacity of payment by Bill of Exchange not later than 25.10/2006. We clearly understand that part payment is not available, we asked our Bank to open a sight draft.so we could provide the payment on time.

Thank you very much for your patienсe. I hope we will deal with your Bank in the future.

Sincerely yours

Tim Warren

Marketing Department Manager.

Enclosure: Copies of Drafts of our corresponding Bank in Russsia.

Test:

1. Continue the talk:

At a Group Training Seminar in England, export sales executives arelistening toa Senior Finance Manager. He is briefing them about the payment system between the firm and its different customers.

There are four systems that we use. Cash with order is ideal but most customers want a period of credit, so it; snot always easy to insist on the cash first.

The next one I would mention is open account; and there are three ways that open accountcustomers can pay us: by cheque, be telegraphic transfer, or by mail transfer. But we don’t give customers open facilities until we have references from two major firms and from abank. Open account is OK with people you know well, but don’tgo round offering it to strangers!

Now, billsof exchange, or drafts. We use twotypes of bills of exchange: sight drafts, which are a little like cheques: and time billls, which are payed after a certain period. OK? Sight bills, time bills, OK.

Now, the type of payment system I prefer to use is the irrevocable letter of credit. The word «irrevocable» is important. It means that there ‘sno risk: the bank guarantees that we get our money: and that’s the way I like it…

Do you know these words?

To brief smb. - инструктировать кого-либо

Sight bill – вексель, оплачиваемый по предъявлению

Time bill – вексель, имеющий фиксированный срок

II. Check if you remember:

1. What is the idea of payment by cash?

2. In what three ways can payment on an open account be made?

3. On what conditions do sellers usually accept payment on an open account?

4. What is a draft?

5. What two types of bills of exchange are there?

6. What guarantees do irrevocable letters of credit mean?

7. What terms are ideal for sellers?

8. Is payment on an open account usually prefered by sellers?

9. What is the preference for the buyers?

IV. Translate into English:

1. Мы ожидали, что они будут обсуждать условия платежа сегодня.

2. Они хотели, чтобы продавец согласился с кредитной формой расчёта.

3. Мы полагали, что партнёры обратятся к нам с этой просьбой.

4. Мы быхотели, чтобы Вы открылибезотзывный аккредитив.

5. Они хотели, чтобы мы платили драфтами, имеющими просроченный срок.

Дата добавления: 2015-07-20