THE SELLER ADVISES THE BUYER OF THE DESPATCH OF A BILL

ZAO MIRANDA Russia, Moscow, Vavilov st., 29
	Our ref. Your ref. March 18, 20__ Cyprus Inc. Mission Hills Glendale CA 91346 USA Dear Sirs, Thank you for your order, which has now been completed and shipped to you. In accordance with the terms of payment we have drawn on you at 90 days after sight for the amount of the enclosed invoice. The bill is accompanied by the documents and forwarded to your bank. The documents will be released against acceptance. Yours faithfully, T.Raspletina Tatiana Raspletina Accounting Department

NON-PAYMENT OF A BILL

ZAO MIRANDA Russia, Moscow, Vavilov str., 29
	Our ref. Your ref. June 19, 20__ Cyprus Inc. Mission Hills Glendale CA 91346 USA Dear Sirs, Please note that bill No. 567-002 for USD 12,375.00 was not met by you on the due date. Our bank returned the above bill dishonoured yesterday. We intend to request our bank to re-present the draft and insist on your immediate explanation. If the account has not been settled by July 1 we will make a formal protest. Looking forward to your urgent informing us of the status of the bill. Yours faithfully, T.Raspletina Tatiana Raspletina Accounting Department

FOCUS 2. Comprehension questions.

LEAD-IN 1

? What does every transaction involving the international movement of goods, services or capital lead to?

? Why does the volume of foreign payments increase constantly?

? What is the difference between clean payment and documentary payment?

? What methods does clean payment provide for?

? What methods does documentary payment provide for?

? What is International Giro?

? How do you make payment by means of IMO?

? What means of payment are most frequently used in foreign trade?

? What are the main types of bank transfers?

? How is payment made by international Banker’s Draft?

LETTER 1

? What new terms of payment are proposed for urgent airfreight orders?

? Who pays for the transportation of the goods?

? What new terms of payment are proposed for container shipments?

? What cash discount is granted?

? Where will the new terms be officially stated?

LEAD-IN 2

? What are the main functions of bills of exchange in foreigh trade?

? What is a bill of exchange?

? Who draws a bill of exchange?

? Who is to pay or accept it?

? When must a bill of exchange be met?

? What is a dishonoured bill?

? What steps will the drawer take if the bill is dishonoured?

? In what case can a bill be negotiable?

? What is the advantage of payment by bill for the exporter?

? What is the advantage of payment by bill for the importer?

? What is a sight bill?

? What is an “after sight” bill?

? What is the difference between them?

? What is a promissory note?

? What is the legal difference between a promissory note and a bill of exchange?

BILL OF EXCHANGE 2.1

? Name the drawer and the drawee.

? What is the maturity of the Bill of Exchange?

? What document is the bill drawn under?

LETTER 2.2

? Why has the Seller drawn a bill of exchange on the Buyer?

? What kind of bill of exchange is drawn?

? In what case will the documents attached to the B/E be released?

LETTER 2.3

? Why does the drawer have to apply for explanations to the drawee?

? What steps is the drawer going to take?

? In what case will a formal protest be made?

Date: 2015-12-24; view: 883

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