Chapter 1 Establishing Business Relations
Exercise 1: Choose the best answer to complete the following sentences.
1. We are looking forward to from you soon.
A. hearing B. hear C. heard D. be heard 2. Your name and address to us by the Commonwealth Bank. A. have given B. have been given C. give D. given
3. in 1935, this company specializes in the exportation of cotton piece goods. A. Establish B. Established C. Establishing D. To be established 4. We take the pleasure of introducing ourselves an experienced importer line of daily products.
A. of, on B. as, in C. for, by D. be, at 5. please find the catalogues and the latest price list.
A. Enclose B. Enclosing C. Enclosed D. Enclosure
6. As the goods within the scope of our business activities, please contact us at once.
A. fall B. falls C. fell D. felling 7. We are a Sino-Korean Joint Venture silk clothes.
A. deal in B. dealing in C. dealt in D. engage
8. We are sending you by separate cover the samples, you will find them satisfactory.
A. to hope B. hoping C. hopefully D. hope 9. We hope to enter business relations your firm.
A. into, with B. with, into C. /, at D. with, at 10. will be appreciated. A. You reply our letter early B. You reply to our letter early C. Your early reply our letter D. Your early reply to our letter
Exercise 2: Translate the following sentences into Chinese.
1. We’ve come to know your name and address from the Commercial Counselor’s Office of the Chinese Embassy in London.
2. Having obtained your name and address from the Bank of China, we are writing to you with a view of establishing trade relations with you.
3. We are writing to you in the hope that we can open up business relations with your firm.
4. We enclose herewith a list of goods to supply you at the lowest possible price.
5. By the courtesy of Mr. Black, we are given to understand the name and address of your firm.
6. We have the pleasure of introducing ourselves to you with the hope that we may have a good chance of cooperation with you in your business extension.
7. We are the exporter of long standing and high reputation, engaged in exportation of light industrial products.
8. In order to make us familiarized with your products, we shall appreciate your giving us the technical details of them at your earliest convenience.
9．To give you some idea of various types of bicycles we are dealing in, we are pleased to send you, under separate cover, by air-mail our latest catalogue and a price list.
10. We have been in the line of chemical fertilizer for many years.
Exercise 3: Translate the following sentences into English.
1. 2. 3. 4. 5.
我们的产品质量上乘，价格优惠。 希望早日收到你方答复。
我公司专营轻工业品的进口业务。
我们意欲购买各种形状、质量优良的瓷茶杯。
经当地商会推荐，特致函贵方，希望建立贸易关系。
Exercise 4: Translate the following letter into Chinese.
Dear Sirs,
We have your name and address from the Commercial Counselor’s Office of the Chinese Embassy in Ghana. We wish to inform you that we specialize in both industrial and pharmaceutical chemicals, and shall be pleased to enter into trade relations with you.
To give you a general idea of our products, we enclose a complete set of leaflets(宣传活页) showing various products being handled by this corporation with detailed specifications and means of packing. Quotations and samples will be sent upon receipt of your specific enquiries.
We look forward to hearing from you soon.
Yours faithfully,
Exercise 5: Compose a dialogue on the following situation.
David Jones, a Canadian businessman, deals in machine tools.
Zhang Ming, Deputy Manager of China National Machinery & Equipment Import & Export Corporation, wants to have direct contact with a Canadian supplier.
They are discussing the trade possibility.
Chapter 2 Inquiries and Offers Exercises
Exercise 1: Choose the best answer to complete the following sentences.
1. We can supply 1000 cases of Pepsi Cola stock present. A. in, at B. in, in C. from, at D. from, in
2. We thank you for your letter of March 18 our silk blouses of various styles.
A. inquiring for B. inquiry for C. inquired for D. inquire for
3. We are enclosing a copy of our illustrated catalogue for in your last letter.
A. ask B. asks C. asked D. asking 4. We thank you for the inquiry you us.
A. have made to B. have offered to C. have let D. have informed to 5. Your quotation washing machines is too high to be workable. A. in B. against C. with D. of
6. As requested your e-mail of October 1, we are sending you the required quotation sheet.
A. in, herewith B. for, herewith C. for, in D. on, herewith
7. Please quote us your lowest prices CIF Singapore basis for embroidered silk blouses prompt shipment.
A. on, for B. from, for C. on, on D. from, on
8. We are pleased to make you an offer 5,000 dozen Ladies Folding Auto Umbrellas USD 35 per dozen CIF London.
A. for, on B. for, at C. on, for D. on, on
9. We would like to inform you that we have received a large inquiry 800 sets refrigerators.
A. of B. with C. at D. for 10. We acknowledge with thanks your fax of March 3. A. receipt B. receive C. receipt of D. receiving
Exercise 2: Translate the following sentences into Chinese.
1. Please quote us your lowest price CIF Hamburg for ten MT of walnut meat.
2. We have already made an enquiry for your articles, please make an offer before the end of this month.
3. We refer to our negotiations during the autumn Guangzhou fair 2006 and would like to know whether you are now in a position to offer us automatic probes. 4. We are interested in Chinese arts and crafts.
5. At your request we make you an offer as follows.
6. These products are in heavy demand and the supply is limited, we strongly recommend you to accept this offer as soon as you can.
7. We are sorry that we are not able to offer you the information you requested in last letter of February 2nd.
8. The quotation we offer you at exceptionally low prices is subject to reply by return of post.
9. We hope that our quotation will be a satisfactory one and expect your orders. 10. With reference to your inquiry of July 10th, we shall be pleased to supply 50 sets of scanner at the price of ﹩110 each.
Exercise 3: Translate the following sentences into English.
1. 现寄上我方的第1234号询价单一份，请报FOB价格。 2. 所报发盘有效期7天。
3. 获悉贵公司对我们的产品感兴趣，非常感谢。 4. 恳请惠寄商品目录、价格表和付款方式细则。
5. 我方愿意作如下报价，但以你方10日内接受有效。 6. 如果你方报价具有竞争力，我们愿意向你方订货。 7. 一俟收到你方具体询价，我们将电告报价。 8. 鉴于我们长期的贸易关系，特报此盘。
9. 这是我方最新价格单，您会发现我方价格是具有竞争力的。 10. 如果你方订货数量大，价格还可以进一步考虑。
Exercise 4: Translate the following letter into Chinese.
Dear Ms Jones,
We thank you for your fax of April 27 in which you inquire about our AHS20 Stereo Headset. We appreciate your interest but we can no longer supply it as the production has been discontinued. We are sure that our new product AHS30 is an excellent replacement.
The quality and specification are much improved at very little extra cost and it is enjoying excellent sales. We have sent you the sample, price list, and catalogues by express airmail.
We are sure that you will find a ready sale for this excellent product, and it will give you complete satisfaction.
Kind regards
Exercise 5: Compose a dialogue on the following situation.
Mr. Fisher, an American businessman has come with an inquiry for your pillow cases. He would like to have an idea of your unit price CIF New York. You just want to make an FOB offer because his order is very small. Other terms are as follows:
Specifications: NJ100
Quantity: 10 thousand dozens
Unit price: 23 dollars per dozen FOB Shanghai
Payment: by confirmed and irrevocable letter of credit payable at sight Shipment: during July/August 2007
Chapter 3 Price Exercises
Exercise 1: Choose the best answer to complete the following sentences.
1. We are sorry to say it is not possible us to meet the price you requested. A. for B. of C. with D. to
2. In reference to your letter, we cannot a better offer than the one we suggested to you.
A. take B. make C. receive D. get
3. We are aware the fact that your goods are among the best on the market. A. for B. of C. in D. to
4. We regret that it is not possible to accept the price you offer. A. reducing B. having reduced C. reducing D. reduced
5. We allow you a 3% quantity discount if your order exceeds 2000 dozens. A. are prepared B. are prepared to C. will be prepared D. will prepare
6. Only reducing the price by 6% come to business. A. by, we can B. in, we can C. on, can we D. by, can we 7. Our goods are those from other suppliers in every aspect. A. superior to B. superior than C. more superior to D. more superior than 8. The buyer made a bid RMB ¥ 3000 per ton wheat. A. at, in B. on, in C. at, for D. on, for
9. Prices of raw materials steeply since our contract of September 7. A. rose B. have risen C. have raise D. to have risen
10. We hope that upon reconsideration you will be able to our offer. A. receive B. make C. accept D. decline
Exercise 2: Translate the following sentences into Chinese.
1. There is not any room for our price to go down.
2. It is regretful that we cannot entertain your counter-offer.
3. We are most anxious that you will do your utmost to reduce the price.
4. As the wholesale price of leather is riding, it is certain, we believe, that you will not be able to buy the items we mentioned at the same price during next few months.
5. If you agree to buy 200 cases more of our products, we could conclude the deal at the price of ﹩122 per case FOB Xingang.
6. To help you sell our product, as an exception, we’ll give you a special discount of 2%.
7. In order to close this deal, we shall further reduce our price by 5%.
8. In view of the goods in great demand, we would advise in your interest that you accept our offer without delay.
9. Much to our regret, as your price is out of line with the market level, it is difficult for us to accept it.
10. Our products are modestly priced.
Exercise 3: Translate the following letter into Chinese.
Dear …
We have carefully considered your counter-offer of 9th April to our offer of woolen underwear, but very much regret that we cannot accept it. The prices we quoted in our letter of 3rd April leave us with only small margin; they are in fact lower than those of our competitors.
The wool used in the manufacture undergoes a special patented process that prevents shrinkage and increases durability. The fact that we are the largest supplier of woolen underwear in this country is in itself evidence of the good value of our products.
We shall always be very happy to hear from you and will carefully consider any proposals likely to lead to business between us.
Sincerely,
Exercise 4: Translate the following sentences orally.
1. I dare say that the price we offer compares favorably with any quotation you can obtain elsewhere.
2. What we give you is a good price. We don’t think it could be put any better. Take it or leave it, it’s up to you.
3. Isn’t it possible to give us a little more discount?
4. If possible we’d like to ask for reduction of $5.50 per MT.
5. We can accept the goods only at a reduction of 20% off the contract price. 6. If your order is large enough we are ready to reduce our prices by 5%. 7. 请你们以美元、布鲁塞尔离岸价报价。 8. 如果你方提价百分之二，交易才有可能。
9. 如果你们答应提前交货，我们可接受你方价格。 10. 价格太高，我无法推销。
Exercise 5: Compose a dialogue on the following situation.
You get an offer of tin foil sheets reading: Commodity: Tin Foil Sheets
Price: US﹩120 per long ton CFR New York Quantity: 60 long tons
Payment: By irrevocable L/C at sight
You ask for an 8% reduction in the price. But the seller refuses to consider any reduction, but gives you a 2% commission. Finally, you conclude the business.
Chapter 4 Shipment Exercises
Exercise 1: Choose the best answer to complete the following sentences.
1. Sometimes transshipment and partial shipment are .
A. permission B. permitting C. permitted D. permit
2. We are of the goods we ordered with you, but so far we have not received any news from you about their dispatch.
A. urgent in need B. bad in need C. in badly need D. in urgent need
3. Any shipment will put us in great trouble.
A. delay with B. delay to C. delay on D. delay in
4. We must insist on immediate delivery, we shall cancel the order in accordance with the contract stipulations.
A. otherwise B. however C. likewise D. but
5. any change in the date of delivery, please let us know in advance.
A. there should be B. should there be C. there would be D. would there be 6. For the goods under S/C No.325, we have space on S.S. Shanghai due to arrive in London around May 1.
A. booked B. hired C. retained D. bought 7. Shipment will be in January.
A. started B. done C. effected D. left
8. Goods will be shipped within two months after of your order. A. receiving B. receipt C. being received D. received
9. The letter of credit stipulates that the bill of lading be made out to order. A. should B. would C. could D. had to
10. The date of sailing is March 5. We enclose one set of the shipping documents covering this consignment, :
A. as follow B. as following C. as follows D. as followed
Exercise 2: Translate the following sentences into Chinese.
1. Generally, shipment can be effected within 30 days after receipt of your L/C. 2. We will try our best to advance shipment, but we cannot commit ourselves.
3. The shipment time is February or March at our option and the goods will be shipped in one lot.
4. Owing to heavy commitments, we cannot advance shipment of your order. 5. We find it impossible to ask our end-users to accept the delayed delivery. 6. Shipment is to be made during April to June in three equal lots.
7. We would inform you that the above goods were already shipped out on the 18th May.
8. We take pleasure in notifying you that the goods under S/C No. 456 have been dispatched by M/V “Yunnan” sailing on May 15, 2006 for Hong Kong. 9. We hope the goods would arrive in time for the new year rush.
10. In case you should fail to effect delivery within the stipulated time, we will have to lodge a claim against you for the loss and reserve the right to cancel the contract.
Exercise 3: Translate the following sentences into English.
1. 2. 3. 4. 5.
按和约规定，上述货物将分三批装运。 见信后请即刻传真确切装运日期。
因我方用户急需此批货物，请你方保证早日交货。 请装运下列货物，交货期不晚于5月31日。 我们迫不得已要求你方同意转船运输。
Exercise 4: Complete the following letter with proper words.
enclosed copy advise partial shipment remaining appreciate glad Dear Sirs, We are to inform you that we have shipped, in of your Order No. 5216, 10 sets of safety pin machines（安全别针机） per S.S. “Qinggong” which sailed yesterday. please find a full set of shipping documents.
Regarding the 20 sets, we will try to hurry shipment and will you as soon as it is effected.
We the business you have been able to secure for us and assure you that all your further inquiries and orders will continue to receive our most careful attention.
Yours faithfully,
Exercise 5: Compose a dialogue on the following situation.
You and your customer are discussing about the date of shipment. You think the shipment may be effected in April, but the buyer wants you to advance the date of shipment as he is in urgent need.
Finally, you agree that shipment will be effected in two lots, the first lot will be shipped in March, and the second in April.
Chapter 5 Insurance Exercises
Exercise 1: Choose the best answer to complete the following sentences.
1. Insurance is to be covered All Risks and War Risk. A. for B. on C. against D. to
2. is the general practice that the insurance is covered in the same currency as in the letter of credit.
A. This B. That C. It D. As
3. Please make sure that insurance is covered against FWRD in addition WPA.
A. with B. against C. to D. by
4. If broader coverage is required, the extra premium should the buyer’s account.
A. for B. be for C. be to D. to
5. I have received your e-mail of June 4 many thanks. A. with B. in C. on D. for
6. Please effect insurance All Risks the amount of 10,000 yuan our order No. 506.
A. for, for, on B. against, on, for C. against, for, on D. with, for, for 7. We are now replying to your letter of March 2 insurance. Which of the following is NOT right?
A. in regard to B. with regard to C. regarding D. as regard
8. Please let us know your premium which you cover insurance against All Risks.
A. with B. for C. against D. at
9. We do not wish to risk the only steamer available this month. A. to miss B. missing C. to lose D. losing
10. Since the premium varies with the scope of , should additional risks be covered?
A. assurance B. insurance C. business D. enterprises
Exercise 2: Translate the following sentences into Chinese.
1. For FOB and CFR sales, insurance is to be covered by buyers, while for CIF sales, insurance is to be covered by sellers.
2. The coverage is to be from warehouse to warehouse and come to effect from May 10th.
3. Please insure for us these products at invoice value plus 10%.
4. They are not delicate goods that can be damaged on the voyage. FPA will be good enough.
5. We shall effect the insurance of the goods for 110% of their CIF value.
6. We have insured the shipment for 130% of the invoice value, but the premium for the difference between 130% and 110% should be your account.
7. I have some glassware to be shipped to Hongkong. What risks should I cover? 8. Please insure for me against all risks 200 pieces of high-quality furniture valued $20,000.
9. Please let us know the premium of Breakage.
10. We can insure the porcelain vases on you behalf, but at a rather high premium and all the additional premium will be for your account.
Exercise 3: Translate the following sentences into English.
1. 2. 3. 4. 5.
请将此货物投保一切险和战争险。
我们将200公吨大米按发票金额的110％投保一切险。 随函寄上提单和保险单。 额外保险费由买方负担。
如你方愿意投保破碎险，我们可代为办理。
Exercise 4: Complete the following letter with proper words.
with regard to FPA cover under against SRCC upon theft Dear Sirs,
Thank you for your letter of December 6 and your Order No. 367.
On going through the stipulations of your order, we regret to find that in addition to and War Risks, you require insurance to TPND and which were agreed by both parties during our negotiations at the Beijing International Fair.
the ordinary circumstances, no loss or of such merchandise as mild steel flat bars is likely to occur during transportation or after arriving at its destination. Therefore, it is our practice to cover FPA for such commodity. Since you desire to have your shipment insured TPND, we can arrange such insurance at your cost.
SRCC, we wish to state that the People’s Insurance Company of China, from now on, accepts this special coverage, and will fall in with the usual international practice.
We hope you will take the above into consideration and give us a new order soon.
Yours faithfully,
Exercise 5: Compose a dialogue on the following situation.
Your have a batch of porcelain wares to be shipped from Shanghai to New York, but you have no idea about what risks to be covered.
Mr. Zhang, a representative from the People’s Insurance Company of China, explains the different kinds of coverage to you, and finally your effect the insurance on your porcelain wares.
Chapter 6 Terms of Payment Exercises
Exercise 1: Choose the best answer to complete the following sentences.
1. Documentary credit seeks from the bank.
A. guarantee B. no guarantee C. no protection D. insurance
2. It is our usual practice to require sight L/C. We can’t make an with this transaction.
A. example B. exception C. experience D. excellence 3. In compliance your request, we exceptionally accept delivery against D/P at sight.
A. for B. with C. as D. of
4. Our usual terms of payment are by irrevocable sight L/C, reaching us one month shipment, remaining valid negotiation in China . A. Before, on, to allow transshipment and partial shipment B. After, in, and allow transshipment and partial shipment C. Before, for, allowing transshipment and partial shipment D. After, with, and allow transshipment and partial shipment
5. The letter of credit is to be established through the Bank of China, payable draft drawn at 30 days’ sight.
A. with B. by C. for D. to
6. We will draw you 60 days USD 42,000 your last shipment.
A. for, on, for, on B. on, at, for, with C. for, for, for, for D. on, at, for, against
7. Having some difficulty in opening the L/C, our buyers request you to book their orders
D/A basis.
A. for B. by C. against D. on 8. The covering L/C must be confirmed by . A. the bank to accept us B. a bank acceptable to us C. the bank acceptable for us D. a bank acceptable by us
9. We regret unable to consider your request for payment on D/A basis, the reason
that we generally accept payment by L/C sight.
A. being, being, at B. for, for, at C. being, for, for D. for, being, for 10. We are writing to inform you that L/C No. 101 Our order No. 555 has been opened
the Bank of China. The advising bank be sending you an advice shortly.
A. for, by, will B. covering, with, / C. covering, through, should D. for, through, /
Exercise 2: Translate the following sentences into Chinese.
1. Advance payment of 25% of the contract value shall be paid within 30 days of the date of signing the contract.
2. The payment shall be made by five annual installments of 20% each. 3. We propose paying by TT when the shipment is ready.
4. You are requested to extend the validity of the L/C to August 31. 5. For this purchase, we propose to pay in Euros.
6. Please note that easier terms of payment will not only help conclude this transaction but also bring about lasting satisfaction to both of us.
7. The buyers insist on payment by collection for such a small volume of business. 8. We proposed to pay by 30 d/s.
9. D/P or D/A is only accepted if the amount involved for each transaction is less than ￡1,000.
10. For exports, we usually adopt irrevocable letters of credit available by seller’s documentary drafts at sight.
Exercise 3: Translate the following sentences into English.
1. 2. 3. 4. 5.
以信用证方式支付是世界各国进出口贸易中通常使用的方法。 我们希望在付款条件方面你们能通融一些。
我们将开立以你方为受益人的信用证，以美元结算。 我们希望的付款方式是保兑的、不可撤销的信用证。 请务必于下月初开出信用证，准许分批装运和转运。
Exercise 4: Translate the following letter into Chinese.
Dear Sirs,
We have examined the specifications and price list for your drilling machines and now wish to place an order with you. Enclosed please find our order No. 243.
As we are in urgent need of new stock, we would be grateful if you could
confirm the order and effect shipment as soon as possible.
In the past we have traded with you on a sight credit basis. Now, however, we would like to propose that, when the goods are ready for shipment and shipping space booked, you notify us by fax and we then remit the full amount by T/T,
We are asking for this concession to save the expense involved in opening a letter of credit. We believe that this new arrangement should make little difference to you but should help our sales, we hope you will agree to our request.
Look forward to hearing from you soon.
Yours faithfully,
Exercise 5: Compose a dialogue on the following situation.
Mr. John, a businessman from America, has ordered a total of USD 25,000 worth of the sweaters. Mr. Lin is a salesman from China National Textiles Imp. & Exp. Corp.. Now they have settled everything except the terms of payment. Mr. John suggests D/A or D/P terms. Mr. Lin tries to talk him into accepting payment by L/C, while Mr. John states his difficulties if demanded payment by L/C.
Chapter 7 Conclusion of Business Exercises
Exercise 1: Choose the best answer to complete the following sentences.
1. We are pleased to confirm with you a transaction of 100 sets of computers.
A. having concluded B. concluding C. to have closed D. closing 2. As the goods are out of stock, we are unable to your order. A. admit B. place C. entertain D. receive
3. Should your price reasonable, we’ll place a large order you. A. be, with B. is, from C. is, with D. are, from 4. As our buyers are interested in your shirts, we intend to 1000 dozen. A. book your order for B. book with you C. book for you D. book on you 5. Enclosed please find our sales contract duplicate. A. for B. of C. at D. in 6. Please sign and return one copy to us our records. A. for B. at C. by D. with
7. Any further orders you may place with us will certainly our prompt attention.
A. draw B. pay C. receive D. bring
8. If you insist on this price, I’m afraid no business . A. will conclude B. will materialize C. will finalize D. will close
9. Please see to that the stipulations in the relative L/C strictly the terms in our S/C.
A. that, confirm to B. that, conform with C. it, confirm to D. it, conform to
10. We are glad to sign a contract you 500 dozens jeans. A. with, for B. with, of C. for, for D. by, of
Exercise 2: Translate the following sentences into Chinese.
1. This is a copy of our specimen contract in which the general sales terms and conditions are contained.
2. We hope that you won’t object to our inserting such a clause in the agreement. 3. After studying your draft contract we found it necessary to make a few changes. 4. Since both of us are in agreement on all the terms shall we sign the contract now? 5. This contract is made by and between the Buyers and Sellers according to the terms and conditions stipulated below.
6. 15-20 days prior to the date of delivery, the Buyers shall pay against the presentation of the draft drawn on the opening bank.
7. You should guarantee that the commodity is in conformity to all respects with the quality, specifications and performance as stipulated in this contract.
8. This contract is made out in two originals in both Chinese and English, each language shall have equal status in law. Each party keeps one original of the two after the signing of the contract.
Exercise 3: Fill in the contract form with information gathered from the following correspondences.
Letter 1
To: B & J PARTNERS
From: FAC China, Co. Ltd. Dear Sirs,
Re: SCREW DRIVER We are delighted to inform you that we are interested in your Screw Driver S-215 and S-318 displayed in the Trade Fair. Country of Origin: Germany and manufactured in Germany. Please quote your lowest price for 5000 pieces each CFR Tianjin.
Letter 2
Dear Sir or Madam,
Thanks for your letter dated July 22, 2007. We are pleased to make you a firm offer as follows: 5000 pieces Screw Driver S-215, at US﹩11.20 per piece CFR Tianjin; 5000
pieces Screw Driver S-318, at US﹩14.50 per piece CFR Tianjin. Payment is to be made by confirmed, irrevocable L/C payable by draft at sight.
The goods shall be properly packed in wooden case(s), suitable for long distance ocean transportation and change for climate, well protected against moisture.
Letter 3
Dear Sirs,
Many thanks for your quotation of Screw Driver S-215 and Screw Driver S-318. We wish to place an order for 5800 pieces Screw Driver S-215 and 4600 pieces Screw Driver S-318 at the price you quoted.
Please ship the goods before September 20, 2007 from Hong Kong to Tianjin. Transshipment is allowed. We will designate our own shipping marks and advise you accordingly 20 days before loading.
Letter 4
We are pleased to inform you that we have booked your order and are sending you our Sales Contract No. XS0803 signed in Hong Kong on July 30, 2007 in duplicate. Please sign and return one copy.
Sales Contract Contract No. Date: Signed at: The Sellers: The Buyers: This Contract is made and entered into through friendly negotiation by and between the Buyers and the Sellers, under the following terms and conditions: 1. Goods, Specification, Quantity and Unit Price Name and Specification Quantity Unit Price Total Amount CFR China USD USD Total value 2. Country of Origin and Manufactured: 3. Shipping Marks: 4. Packing: 5. Shipment (In case of CFR): 5.1 Port of Shipment: 5.2 Port of Unloading: 5.3 Time of Shipment: 5.4 Transshipment: 6. Insurance: 7. Terms of Payment: Exercise 4: Blank filling
During the course of fulfilling a contract, the seller, on receiving the relevant L/C, should first of all check the clauses in the L/C whether in full conformity with the terms stated in the contract. If some unforeseen special clauses to which the seller doesn’t agree are found in the L/C, the seller should send an advice to the buyer, asking him to make amendment. Now check the following L/C with the given contract, and then complete the following letter asking for amendments to the L/C.
LONDON BANK
Irrevocable Documentary Credit No. LST150
Date and place of issue: 15 September 2007
Date and place of expiry: 15 December 2007, London Applicant: London Imp. Co., Ltd
Beneficiary: South Export Corp., Guangzhou
Advising bank: Bank of China, Guangzhou branch
Amount: CBP 10,000 (Say Sterling Pounds Ten Thousand Only) Partial shipments and transshipment are prohibited.
Shipment from china port to London, latest 30 November 2007
Credit available against presentation of the following documents and of your draft at sight for 90% of the invoice value:
—Signed commercial invoice in quadruplicate.
—Full set of clean on board ocean Bills of Lading made out to order of London Bank marked freight prepaid.
—Insurance certificate of policy endorsed in blank for full invoice value plus 10%, covering All Risks and War Risk.
Covering 5 M/T Fresh Shrimps, First Grade, at GBP 2,000 per M/T CIF London as per Contract No. 245B
245 B号合同主要条款：
买方：伦敦食品进口有限公司 卖方：广州南方出口公司
5公吨一级冻虾每公吨CIF伦敦2200英镑，2007年11月30日前自中国港口用直达轮运往伦敦。保险由卖方按发票金额110％投保一切险和战争险。凭不可撤销的即期信用证支付。
Dear Sirs,
We are very pleased to receive your L/C No. LST150 opened through London Bank against our S/C No. 245B. After checking it carefully, we regret to find some discrepancies between the L/C and the S/C and would request you to amend the L/C as follows:
1) 2) 3) 4) 5) 6)
We hope you will send us your amendment advice without any delay so as to enable us to effect shipment in time.
Yours faithfully,
Exercise 5: Compose a dialogue on the following situation.
Suppose you and your client are negotiating about some minor points of the draft
contract. Compose a dialogue based on the following expression:
(1) make a close study of (2) first, second, as for
(3) it’s stipulated in the contract that … (4) insert such a clause (5) sign the contract
参考答案
Chapter 1 Establishing Trade Relations Exercise 1:
1-5. A B B B C 6-10.A B B A D
Exercise 2:
1. 我们从中国驻伦敦大使馆的商务参赞处得知你们的名字和地址。
2. 从中国银行获悉贵公司的名称和地址，我方现致函希望同你方建立贸易关系。 3. 我方现致函希望同你方建立贸易关系。
4. 我们随函附上可向你方低价供应的产品单一份。
5. 承蒙布莱克先生的介绍，我们得知贵公司的名称和地址。
6. 很荣幸向贵公司介绍敝公司，希望我们能有机会与贵公司合作，扩大业务范围。
7. 我们是信誉卓著的出口商，长期经营轻工产品的出口业务。
8. 为使我们熟悉贵方的产品，承蒙进口提供产品详细说明，我们将不胜感激。 9. 为使你方了解我方经营的各种自行车，我们很高兴另封航邮寄去我们的最新产品目录和价格单一份。
10. 我们已经经营化肥产品多年。
Exercise 3:
1. Our products are of superior quality and profitable price. 2. We look forward to receiving your reply at an early date. 3. This corpreation specializes in importing textiles.
4. We wish to buy quality porcelain tea cups of different shapes.
5. On the recommendation of local chamber of commerce, we are writing to you in the hope of establishing trade relations with you.
Exercise 4:
敬启者：
我们从中国驻加纳使馆商务处获悉贵公司名，兹告我公司专营工业和药物化工原料，并想同你们建立业务联系。
为了使你们对我方产品有个大概的了解，现附上有关我们公司经营的各种产品的一整套小册子，内有详细规格和包装情况。一俟收到你们的具体询价，我们马上寄样报价。
盼早日收到你们的回信。
你忠诚的，
Chapter 2 Inquiries and Offers Exercise 1:
1-5. C A C A D 6-10. A A B D C
Exercise 2:
1. 请报10公吨核桃仁CIF汉堡最低价。
2. 我方已向你方产品询盘，请在本月底前报价。
3. 贵我双方在2006年的秋季广州交易会上进行磋商，现希望知道贵方能否就自
动探测器向我方报价。 4. 我们有意购买中国工艺品。
5. 应你方要求，我们现报价如下：
6. 此产品需求量很大，且供应有限，建议尽快接受该发盘。
7. 我方不能提供贵方在2月2日的来信中所要求的信息，很抱歉。 8. 破例所提供的优惠报价，以贵方回信确认为准。 9. 希望我们的报价令人满意，期待接到你们的订单。
10. 关于你方7月10日的询盘，我方很高兴以每台110美元的报价供应50台扫描仪。
Exercise 3:
11. We are sending you our inquiry sheet No. 1234, please quote us on FOB basis. 12. This offer is firm for 7 days.
13. We are very pleased to hear that you are interested in our products.
14. We shall be grateful if you kindly send us a copy of your catalogue with details of your prices and payments.
15. We would like to make the following offer, subject to your acceptance within 10 days.
16. We shall be very glad to place our order with you if your quotation is competitive. 17. As soon as we receive your specific inquiry, we will cable our quotation.
18. In view of our longstanding business relationship, we make you such an offer. 19. This is our latest price list. You’ll find our price very competitive. 20. We can reconsider our price if your order is big enough.
Exercise 4:
敬启者：
感谢你方4月27日询购AHS20立体声耳机的传真。你方对此产品感兴趣，我们非常感谢，但因其生产已停止，我方已不能供应此产品。但我们相信我们的新产品AHS30将是一种优良的替代。
该产品质量和规格都有很大的改进，而成本的提高却微乎其微，目前非常畅销。
我们已用航空快递方式寄出了样品、价格单和产品目录。 我们肯定该优良产品将会有很好的销路，令你方完全满意。
Chapter 3 Price Exercise 1:
1-5. A B B D B 6-10. D A C B C
Exercise 2:
1. 2. 3. 4.
我方价格没有下降的空间.
很遗憾，我方不能接受你方的还盘。 我们切望你们尽最大可能降低价格。
因皮革批发价正在上涨，我们确信，你方在未来数月内决不可能以相同价格买到此产品。
5. 如果你方同意多买200箱我们的产品，我们就可以按每箱122美元FOB新港成交。
6. 为了帮助你推销我们的产品，作为例外，我方给你2％的特殊折扣。 7. 为了成交，我方准备再降价5％。
8. 鉴于商品紧俏，为贵方着想，建议迅速接受我方报盘。 9. 很遗憾，由于你方价格与市场行情不符，我方很难接受。 10. 我方产品定价适中。
Exercise 3:
…… 先生：
你方4月9日对我方毛织内衣的还盘经仔细考虑，很抱歉我方不能接受。我方4月3日信中报价对我方盈利甚微，实际上低于竞争者的价格。
生产中所用的羊毛经特殊专利法处理，以防缩水，增强耐力。我公司是本国最大的毛织内衣供应商，这一事实本身说明我方产品的价值。
我们会高兴听到你方消息，并慎重考虑能达成交易的任何建议。
Exercise 4:
11. 我敢说，我们所报的价格比其他所有报价都低。
12. 我们所报的是一个好价格，不可能再好了。接受还是拒绝，由你决定。 13. 能否给我们多一些折扣？
14. 如果可能，我们要求每公吨降价5.50美元。
15. 只有在合同价格基础上降价20％，我们才接受货物。 16. 如果你方订单足够大，我们准备降价5％。
17. Will you please quote FOB Brussels in U.S. dollar? 18. Business is possible if you increase the price by 2%.
19. If you promise to ship the goods earlier, we can accept your price. 20. It would be impossible for me to push any sales at such high prices.
Chapter 4 Shipment
Exercise 1:
1-5. C D D A B 6-10. A C B A C
Exercise 2:
1. 2. 3. 4. 5. 6. 7. 8.
一般来说，收到你方信用证后30天内装运。 我方将尽力提前装运，但不能保证。
装运期为2月或3月，由我方决定，货物将一批发运。 由于承约过多，我方不能将你方订单提前装运。 我们感到要让我方用户接受延期交货是不可能的。 货在4到6月分三批均装发运。
兹通知你方，上述货物已于5月18日装船发运。
很荣幸地通知你方，456号销售确认书项下货物已装“云南”号轮船于2006年5月15日驶向香港。
9. 我们希望货物能及时赶上新年销售旺季。
10. 如你方未在规定时间内交货，我方不得不就损失向你方提出索赔，并保留取消合同地权利。
Exercise 3:
1. According to the contract stipulations, the above-mentioned goods should be shipped in three lots.
2. Upon receipt of this letter, please let us know the exact date of shipment by fax. 3. As our customers are in urgent need of the goods, we hope you can assure us of an early shipment.
4. Please ship the under-mentioned goods for delivery not later than May 31st. 5. We are under the necessity of asking you to allow transshipment.
Exercise 4:
glad, partial shipment, Enclosed, copy, remaining, advise, appreciate.
Chapter 5 Insurance Exercise 1:
1-5. C C C B A 6-10. C D D B B
Exercise 2:
1. 按FOB和CFR成交的贸易，买方应负责安排货物投保事宜，而按CIF达成2. 3. 4. 5. 6.
的交易则由卖方为货物投保。
这项保险为仓至仓保险，从5月10日起生效。 请按发票金额加成10％代我方为这些产品投保。
他们不是易碎品，运输途中不会有多少损坏，保平安险足够了。 我方将按CIF价值的110％办理保险。
我方已按发票金额的130％投保，但是130％和110％之间的的额外保险费应由你方承担。
7. 我有些玻璃器皿要运到香港，应该投保哪些方面的险呢？ 8. 请代我方为价值2万美元的200件高质家具投保一切险。 9. 请告知破损险费率。
10. 我们可以代你方投保瓷花瓶，但保险费用很高，所有额外保险费由你方负担。
Exercise 3:
6. Please cover the goods against All Risks and War Risk.
7. We shall cover the 200 MT rice for 110% of the invoice value against all risks. 8. Enclosed we hand you the B/L and Insurance Policy. 9. The extra premium is for buyer’s account.
10. If you desire to cover Breakage, we can provide such coverage on your behalf.
Exercise 4:
FPA， cover， SRCC，upon，Under，theft，against，With regard to，
Chapter 6 Terms of Payment Exercise 1:
1-5. A B B C B 6-10. D D B A C
Exercise 2:
1. 2. 3. 4. 5. 6.
合同签订日后30天内预付合同价值的25%。 货款将在五年内分期付清，每年支付20%。 我们建议货物备好后用电汇付款。
要求贵方将信用证有效期展至8月31日。 对于这批购货，我们建议以欧元付款。
请注意，易于接受的付款方式不但有助于本次交易的顺利进行，而且将会带给双方长久满意。
7. 因业务额小，买方坚持托收付款方式。 8. 我方建议见票后30天付款。
9. 只有交易额小于1000英镑时才可接受D/P 或D/A的付款方式。
10. 对于出口，我们一般采用凭卖方跟单汇票即期付款的不可撤销信用证的付款方式。
Exercise 3:
1. The letter of credit is the most commonly used method of payment for imports and exports in the world.
2. I hope you would leave us some leeway in terms of payment.
3. We shall open a letter of credit in your favour, to be settled in US dollars.
4. The terms of payment we wish to adopt are confirmed and irrevocable letter of credit.
5. You are kindly requested to have your L/C issued early next month allowing partial shipment and transshipment.
Exercise 4:
敬启者，
我方已仔细阅读了你方钻机的规格和价目表，现拟订购该货物，附上我方第243号订单。
因我方急需新货，如蒙落实订单并尽快发运，将不胜感激。
以往我们交易均以即期信用证付款。现建议：当你方货物准备装船及完成订舱时，请以传真方式通知我方，我方即可以电汇方式全额付款。
我方提出此请求，希望能节省开立信用证的费用。相信此安排不会对你方造成太大影响，但却能增加我方销量，故希望你方同意我方请求。
希望尽快收到你方回复。
Chapter 7 Contract Exercise 1:
1-5. A C A B D 6-10. A C B D A
Exercise 2:
1. 2. 3. 4. 5. 6. 7. 8.
这是我们的一份合同样本，其中包含了主要的销售条款。 希望你不反对我在协议中加入这样一个条款。 研究过你方合同后，我认为有必要做一些修改。 既然我们同意所有的条款，那我们现在签合同吗？ 买卖双方同意按下列条款签订本合同。
买方在交货期15-20天前，应凭开户行开具的汇票付款。 你方应保证货物质量、规格和性能与本合同规定相符。
本合同正本共两份，采用中、英文书写，两种文字具有同等效力。签字后双方各执一份。
Exercise 3:
Sales Contract Contract No. XS0803 Date: July 30, 2007 Signed at: Hong Kong The Sellers: B & J PARTNERS The Buyers: FAC China, Co. Ltd. This Contract is made and entered into through friendly negotiation by and between the Buyers and the Sellers, under the following terms and conditions: 1. Goods, Specification, Quantity and Unit Price Name and Quantity Unit Price Total Amount Specification CFR China USD USD US﹩11.20 Screw Driver (S-215) 5800 USD64 960.00 US﹩14.50 Screw Driver (S-318) 4600 USD66 700.00 Total value: US﹩131 660.00 (SAY US DOLLARS ONE HUNDRED AND THIRTY-ONE THOUSAND SIX HUNDRED AND SIXTY ONLY) 2. Country of Origin and Manufactured: Germany 3. Shipping Marks: To be designated by the Buyers and advise the Sellers 20 days before loading. 4. Packing: In wooden case(s), suitable for long distance ocean transportation and change for climate, well protected against moisture. 5. Shipment (In case of CFR): 5.1 Port of Shipment: Hong Kong 5.2 Port of Unloading: Tianjin, China. 5.3 Time of Shipment: Before September 20, 2007 5.4 Transshipment: Allowed 6. Insurance: To be covered by buyer. 7. Terms of Payment: By confirmed, irrevocable L/C payable by draft at sight. Exercise 4:
Dear Sirs,
We are very pleased to receive your L/C No. LST150 opened through London Bank against our S/C No. 245B. After checking it carefully, we regret to find some discrepancies between the L/C and the S/C and would request you to amend the L/C as follows:
1) The place of expiry should be “China” instead of “London”.
2) The L/C applicant should be “Foodstuffs Import Co. Ltd., London”.
3) Please increase the unit price to GBP2,200 per M/T and the total value in figure and words to GBP11 000 (Say British Pounds Sterling Eleven Thousand Only).
4) Please amend the L/C to allow partial shipment.
5) Payment should be made by irrevocable L/C payable by draft at sight for 100% of the invoice value instead of “for 90% of the invoice value”.
6) The contracted goods should be “Frozen Shrimps” instead of “Fresh Shrimps”.
We hope you will send us your amendment advice without any delay so as to enable us to effect shipment in time.
Yours faithfully,
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