C. Study the letter with a request to a bank to accept a bill.

The Australian importer mentioned in the previous letter now writes to his bankers to tell them to accept the bill.

____________J.K.G. Products Pty.______________ President: D. Bruce Managing Director: L. Thompson Directors: l.R. Marsh. T.L. Bradman Bridge House. 183-9 Kent Street. Sydney NSW 2000   Telephone: [phone] Telex 212160   Date 18 July 20— The Manager National Australian Bank 632 George Street Sydney NSW 2000   Dear Sir,   You will shortly be receiving a bill of exchange for £2,163 and relevant documents from Panton Manufacturing Ltd., England. Would you please accept the draft on our behalf, send us the documents, and debit our account?   Yours faithfully,   L. Corey J.K.B. Products Pty.

What are the requests made by Mr. Corey?

D. 1) If a customer cannot pay a bill, he must inform his supplier immediately. The example of it is the letter, written by the customer who asks for his bill of exchange to be extended for another 60 days.

2) Study the letter:

L. Franksen PLC Prince of Wales Road, Sheffield S9 4EX   Telephone: [phone] Fax: [phone]   Mr. D. Bishkin 19 May 20— Zenith S.A. Haldenstrasse 118 3000 Bern 22 SWITZERLAND   Dear Mr. Bishkin,   I am sorry to tell you that I will not, be able to meet my bill. No, BE7714, due on 6 June. My government has put an embargo on all machine exports to Zurimba, and consequently we have found ourselves in temporary difficulties as we had three major cash consignments for that country. However, I am at present discussing sales of these consignments with two large Brazilian importers, and am certain that they will take the goods. Could you allow me a further 60 days to clear my account, and draw a new bill on me, with interest of, say 6% added for the extension of time? I would be most grateful if you could help me in this matter. Yours sincerely,   L. Franksen  

3) Answer the questions:

1. What expression does Mr. Franksen use instead of pay?

2. What is an embargo?

3. How does he intend to get the money for the cargo he cannot sell?

4. What solution does he suggest to the problem?

5. How does he propose to compensate Mr. Bishkin?

6. Which words in the letter correspond to the following: paid for goods; make out a draft?

E. When a bill is not paid and no notice has been given the supplier usually writes to the customer before protesting the draft as it is shown further. Note the expression “ Refer to Drawer ” which means the bank is returning the bill to the drawer. The same expression is used when a dishonored cheque is returned. Also notice that a formal protest is to be made which means that the drawer will contact a lawyer to handle the debt, if payment is not made within the specified time. So, study the given below letter and give your comments on it.

Panton Manufacturing Ltd.   Panton Works, Hounslow, Middlesex, TW6 2BQ   Tel: [phone] Registered No. England 266135 Cables: PANMAN Telex: 21511 Fax: [phone]   Mrs. B. Haas, 10th April 20— B.Haas B.V., Heldringstraat 180-2 Postbus 5411 Amsterdam 1007 NETHERLANDS Dear Mrs. Haas, B/E No.1671   The above bill for £860.00 was returned to us from our bank this morning marked 'Refer to Drawer'. The bill was due on the 5th April and appears to have been dishonored. We are prepared to allow you a further three days before presenting it to the bank again, in which time we hope that the draft will have been met. If the account is still not settled, we will have to make a formal protest, which we hope will not be necessary.   Yours sincerely,   D. Panton Managing Director  

XVI. A) Study the text given below and make your comments on it:

Дата добавления: 2015-07-20