commercial english
TRANSCRIPT
4 Сommеrсiаl ЕnqIish
V. Terms of paуmеnt for forеign tradеCash against doсumеnts (CAD) . ' . . . . . . . . . .67Doсuments against aссeptanсe (D/A) . . . . . . . . . . . . . . . . . . . 70Lеttеr of еredit . . ' . . . . ' . ' , ." , . . .72Quest ions for revis ion .. . . . . .78
VI. Terms оf delivery (Inсoterms)ЕХW (ex works) ' . . . . . ' . . . . . . . .80Inсotertns for shipрr ins . . . . . . . ' . . . . . . . . . . . . . .80Inсoterms for i i ru l t imod al transpоrt . . . . . . . . . . . . . . . . . . . . . 85Inсoterms сovering payment of duty ....86Quest ions for revis ior l . . . . . . . . . . . . . . . . . . . . . . .89
VII. TransportationDornеst iс and осean shipрing . . , , . . . . , . . . ' .92Road transport. . . . . . . . . - . . . . . . .94Rai lwаy trarrsport . . . . . . . . . . . . .97Air transport. . . . . . . . . . . . . . . . , , . .97Quest ions for rеvis ion .. . . . . .98
VIII. Еxport doсumеntsThe oсean bill of lading ... 101Air waybi l l . . . . . 109Comlnerсial invоiсе . . . . . . . . . 111Pro.fortna invoiсе . . . . . . . . . . . 111Customs invoiсе . . . . . . . . . . . . . . 112Consuiar invoiсе . . . , . . . . . . . . . LLzCеrt i f iсate of or ig in . . . . . . . .7|4Quest iоns for rеvis ion .. . . . 115
IХ. Customs and dutyTypеs of duty . . . . . . . . . . . . . . . . . 118Calсulat ing duty . . . . . . . . . . . . . |2oCustoms proсedure . . . . . . . . . . L2IQuestions for rеvision ..... |2б
l , r| ' |r . r ' l ( l ) l ] tеnts
\. Mrrг i t te Insuranсеl ' r ' i t rr: ip les of insurarrсе . . . . . . . . . . . . . . . , . . . ' 728,I 'v1х:s of insuranсe pol iсy . . . . . . . . . . . . . . . . . 130'l 'vlrr-.s of loss .. 133()rtcst ions for revis ion . . . . . 135
Х l. l ' ltrsinеss organisations' l . l re pr ivatе seсtor . . . . , . . . . . .13т' l ' l re publ iс seсtor . . . . . . . . . . . . 140()пest ions for revis ion . . . . .142
Хll. , l 'hе stoсk exсhangeSlrnres . . , . . . . . . , . I44l . ' iхеd. interеst sесur i t iеs. ' . . . . . . . . . . . . . . . . . 148(]tlestions for rеvision .'.., Iб2
( l I t lнsаryl ,Jпgl ish to Russian . . . . . . . . . . 15bItrrss ian to Engl ish . . . . . . . . . .1,74
()б oвтope . . . . . . . . . ' . 190
Foreword
This book is primarily intended for languagе stu-dents who need to aсquaint themselves with Еnglishсommerсial vосabularу, and desсribes сertain basiсprinсiples of сommerсial praсtiсe without aspiringto be a definitive textbook on the subjeсt. However,it is also a useful referenсe work for people in lan-guage-oriented professions.
The materials rryere originallу designed for сoursesleading to the qualifiсations of European Seсretaryand Foreign Language Correspondent offered by theGerman Chamber of Commerсe. For this reason. al-though no prior knowlеdgе of business is neсessarу,students are expeсted to have reaсhed a level of Eng-lish equivaient to about 6 years of study at sсhool.
There are twelve units, eaсh of whiсh presents a dif-ferent сommerсial topiс in an easily сomprehensibleform. The essential terms are presented in smallbloсks for quiсk referenсe, and numerous exerсisesgive students the Ьpportunity to test their under-standing and put the newlу aсquired voсabularу toaсtive use. At the end of eaсh unit, there are a numberof Questions for revision, whiсh сan either be set forhomework or used as a basis for сlassroom disсus-sion. A сomprehensivе glossary is inсluded at theend of the book for referenсe purposеs.
Learners requiring translations or eхplanations ofсommerсial terms outside the sсopе of this book arerеferred to www.proz.com' where anv number of lan-
l{lIl l l{l l t lxperts arе on hand to answer individual que-
I l t .н.
I.rrнt, llttt not least, I would like to thank the staffrtltrl students of the International Business SсhoolrrrrrI Sсhulungs-Center Foley in Freiburg, Germany,wlrо were the guinea-pigs for this book and offeredr1tlltlttities of enсouragement and сonstruсtive сriti.r .|нttt; oleg Rudavin, without whom it probablywrlttldn't have сome into eхistenсe in the first plaсe;rtlttl Roland Ferliссhia, Kreszenz Kdfer and MiсhaelKiifer, without whom it would havе taken at lеastt.wiсe as long to write.
Hеather Fеrlicchiа
Пpeдислoвиe
Haстoящee пoсoбиe IIpeдI{asнaчeIIo /цля тex' ктo,иsyчa'r aнtлутft,cкий яBьIк, стpeMиTся бoлee oсIIoBa.тeЛЬIIo пo3IIaкoNIитЬся с тepvlиIloлolиefт., испoЛь-зyeмoй B кoМMepции. He пpeтеIiдУя нa звaниe бa-3oвoгo IIpeдМетIIoгo уveбникa' книгa oIIисЬIBaeтнeкoтopЬIe oснoвolloлaгalощиe пpинципЬI rсoмМep-чeскoй пpa}стиItи. Bмeсте с тe]\{ oнa нeсoМнel{нooкa}fiется пoлeзнoй в кaчeстве спpaBoчIlи:кa И p,JIЯ'спeциaлистoв, paбoтaloщиx в oблaсти JIиIIгBистиIIии llepeBoдa.
Мaтepиaл гoToBился и пoдбvlpaлся aвTopoм BoBpеMя Пpoвeдeния opгal{изoвal{нЬIx Heмeцкoй Top-гoвoй Пaлaтoй yнeбньrx кypсoв Евpoпeйcкoгo Coro-зa дЛя сeкpеTapей, вeдaroщиx lvlе'fiдyнapoднoй пе-peпискoй. Пoэтoмy изI{aчaльнo ypoBel{Ь вЛaдel{ияatlrлиЙcкуtl\{ язьIItoМ для paбoтЬI с нaстoящиIvl Пo-сoбиeм дoл,{сeн бьrть дoстaтoЧIlo вьIсокиNI.
B кaнсдoй у1З ДBeкaДцaти глaB llpeдстaBлeнaoTДeлЬIIaя кoММepчeсIсaя тeMa' и3лo}IсeнIIaя B кpaт-кotl ут дoстyпнoй для IIoI{иiuaния фopмe. .(ля oблeг-ЧeIIия paбoтьr IслIoчeвьIe тepMиньI BЬII{.eсeIIьI в palш-\|И.' a м I{oгoчислeIIньIe УII p a]кEIe I{ и я talот студеIrтaмвo3IvIoE{нoстЬ IIpoвepитЬ свoe пollип{aIIиe МaтepиaлavI aI<TvIBvIвиpoBaть ЛeIссиIсy. B кoнцe кaэ*сдoгo pas-
.цeлa иIvIeются вoIIpoсЬI' кoTopьIe NIoгyт испoлЬ3o-BaтЬся либo для BЬIпoЛнeIIия дoIvIaшIниx зaдaний,либo вьrстУпaTь в кaчeстBe тeМ для oбсуждeния вoBpeilIя зatтятvтil. Глoссapий в кoнцe кIIиги IIoзвoлитбьrстpo ъraiттpт нyхсньtй тepп[иII' eгo Ilepeвoдтa o6ъяc-I{eниe.
l .]r ' ' l ttt ?I(t ' l l t:воeй paботe BЬI стoЛ}tнУЛисЬ с Tep}Iи-
rt . ,м, . t ' lх .( lyк)щиlYI пeрeвoдa или тoЛкoBal{ия' ине
l| l - l I l l l l lv) l( l , l J lи eгo B l{aстoящeм пoсoбии' oгpoNI}Ioе
l l|| ,I l l l l (|(] ' I ' I]o пpoфeссиoнaЛЬI{ьIx l lepeBo/цчиlсoB' pa-
l l l | .| ' l t |()| l[ l1 Х нa сaйтe www.proz.сom' пoiv loгУT BaM
tlt. l l t t l , l . l l .пкlбьre яBЬIкoвЬIe пpoблeмьr.
l l ttr l lсt lнeц' я xoTeлa бьr пoблaгoДapиTЬ Tex' кTo
l| l)M()l ' Mнe в coЗI,a]i.vI|,т rсЕ{иги: сoтpУдI{икoB и сЛУ-
ttt lt.t ' t , ' l|t lй Merкдyнapоднoй ТIТg6д51 Бизнeсa и yнeб-
lt(t i .() lt.( lr{Tpa Фoули в Фpaйбуpгe, Геprrлaния' вЬlстУ-
l l l lIttI lиx в кaчeстBe <(IIoдoIIьITtlьIx ltpoЛикoBD IIpи
t| || l l lс 'ГиЧecкol/I IIpиl\{eнeIIии NIaтepиaЛa' BoLI'Ieд[Ieгo
]l l).l'v ltнигy' 3a иx пoддep}I(кУ и IсoI{сTpУIстивIIУI0
l i l , l t . l 'Икy; oлeгa Pyдaвинa, без чьeгo УЧaсTия rс}Iи.
l. l l r l l ttвеpl{oе' IIикoгДa IIe yBидeлa бьr сBет; a TaкEсe
l 'r l . l l t l l lдa Фepликкья, IСperшeнцa Iteфepa и Миxaэ-
,rllr ltсQlеpa' rсoтopЬIe IIolvIoгЛи IIaписaTЬ eе' IIo кpaй.
ltr. i i меpe, Bдвoe бьrстpeе.
Xезеp Феpлurcкья
l. Produсts and Serviсes
5 Тhе stagеs of industry5 Тhе сhаin of distribution5 Sеrviсеs5 Questions for rеvision
The stages of industry.l ' lrr.l.r. rtre three stages in the proсess of making sale-||||l.t l)1'()duсts from raw materials:
l' l.lxtraсtive industry
'l.lrr. t.аw mateгials arе extraсted from natural re-ir)ltrсes, for example the miner mines iron ore andtlrr. l 'пrmer grows wheat.
2. Рroсessing industry
'l ' l ltl raw materials are proсessed into a form suitablel'rlг further use' for example the iron is made intoн[lltll and thе wheat is made into flour.
i}. Мanufaсturing industry
.l' ltс results of the proсessing stage are made intolоmi-finished and finished goods, for example theнlrlеl is made into knives and the flour is made intollгtlad. Finished goods are goods whiсh are сompletelп themselves, for example steel forks. Semi-finishedgtюds must be assembled before they сan be used,I'or example wooden knife handles and steel knifel l lаdes.
шiРRосЕgs|НGtп}L,gтЕY
il\дNt}FtAстURlNGlt{DU9тTу
v*-М*'A-Ж*l@j *U(1н*стtvЕlNpU$TЕy
Bnьар
saleableraw materialsextraсtivе industry
natural resourсes
proсеssing industry
manufaсturing irrdustry
semi-finished goodsfinished goods
пpигoдньrй /цЛя пpoдa)ки
сьIpье
дoбьtвaющаяпpoN{ьIIIIлeIt нoсTЬ
пpиpo/цIlьIe peсypсьI ;пo.rle3I{ЬIе исItolтaеМьIe
пepepaбaтьrBaIoш{aяпpoivlЬIIIIЛeIIнoстЬ
IIpoи3Bo'цстBo(кaк oтpaсль)
пoлyфaбpикaтьr
гoтoвьrй тoвap; пpoдyкт
Сoпrmеrсiа l ЕngI ish
Еxеrсise i . Whаt kind of industry do I work in?,|. l ,m a mаrkеt gаrdeneг.2. Mу сompаny produсеs сomputers.З. l work on аn оiI r iq in thе North Sеа'4 ln my spаrе t imе, i spin woo| and sеl l i t to сompaniеs whiсh
mаkе еxс|usivе kпitvl ,еaг5. I ,m а саrOеПtеГ,6' |,m а сJеерi-seа f ishеr;nan.7. Wе mаkе jеweI|erу.8. Wе make |eаther '9. |,m a сotton WеaVeг.10. Мy сompаny гnаkеs stеeI girdеrs for br idgеs
Еxerсise 2. Arе thеsе F|NIsHtD оr SЕM|-FlNIsHЕD goods?
1. Umbrе||аs2. Таble |egs3. Сomputеr monitors4. Bott|е tops5. Door hand|еs6. Тoys7. BIсyсlе sаddles8. Fi lсmеnts for I ight buIbs9. Саrpets10. ShoeIасes
The chain of distribution
N.lr.trrrt l lv the manufaсturer sel ls his produсts to thewllrllt.saleг, the wholesaler sells to the retaileг, andl lrr . l . r ' trr i l tэr sel ls to the сonsu.mer or end.user. Ho.tv(.v(|l.l depending on the type of produсt, one or morеrr lr lр ' . l 's rttay be missed out.
r:lrпin of distributiontltatrufaсturеrwholesalerretаilеrсoIlsllmer' end-user
сетЬ peaЛи3aции
пpoи3BoдитеJIь
oптoвьIй тopгoвeц
poзниvньrй Topгoвeц
(кoнeuньrй) пoтpeбитeль
Lхеrсще-З. How do you think thе fo||owing goods аredistr ibuted? Тhere mаV bе morе thаn onеanswer!
l of f the pеg с|othеs/ Dt.,stgl lеr с|othesi l l ; l r ld-mаdе сhoсo|аtes4 Гlowers. ' Stаt ioпery
Serviсes
()ther people do not соti1;.iiltltе dirесtly to produс-t,itln, but are needed fоr exarnplе to transport thegoods from the manufaсturer to the сustomer, tolltsure the goods etс. These people render seгviсes..l'here are several types of serviсe:
1. Publiс serviсes:
l)сople in publiс serviсes are employed by the go-vernment, for example сivil servants and teaсhers.
Сommerсiа| Еnql ish
2. Рrivate serviсes:
Private serviсes are rendered by skilled people withtheir own organisations, for example lawуers anddoсtors in private praсtiсes.
3. Consumer serviсеs:
Consumer serviсes are serviсes used by people in theireveryday life, e.g. eleсtriсians and hairdressers.
4. Commerсial serviсes:
Commеrсial serviсes are rendered by people who areneedеd for the effiсient distribution of goods, forexample exporters, bа.nkers, agents.
to render serviсes пpeдoстaBЛять УсЛyгиpubliс sеrviсеs oбщественньre (гoсудapст-
вeнньrе) слyrкбьtprivate serviсеs чaстIIьIе УсЛУгисonsumerserviсеs пoтpeбитeльскиеyслyгисommerсial serviсes кoмMеpчeскиe yсЛyги
Exerсisе 4. What kind of serviсе do I rеndеr?, l . | ,m а teасher.2. | ,m а pIumber.З. l woгk fоr а shipping сompany.4. |,m a сustoms of f iсеr.5. I work in а wаrеhouse.6. I,m an insuranсe broi lег '7. |,m а mесhaniс.8. I own a whoIesа|е сompany whiсh sеlIs с lothrng9. l ,m а judge.10. I,m аn аrсhiteсt.
| | . trх i t tr ts аnd Serviсes
Quеstions for revision
|. (]lroose one or more of the following produсts andrlr.st:ribe (in as muсh detail as possible) the proсess itttlltlt:rgoes from the time the natural resourсes arer.хt,гaсted to the time it reaсhes the сonsumer:
- Bread. Paper. Leather shoes. Wooden сhairs. Copper pipes
Mtllttion thе three stages of industry and the сhainоI' distribution.
2. Whiсh tуpe of serviсe do you think is the mostilrlportant? If possible, rank them in desсending or-rltlr of importanсe (most important to least impor-tпnt) and explain why.
ll. From enquiry to sаles сontrасt
Enquir iеsOf f ersoгdersSа|еs сontraсtСomp|aints and adjustmentsRеmindегsQuеstiоns for rеvision
Еnquiriеs
l. Arr enquiгу or inquiry is a request for informa-iirlrt. When starting up in business, it is neсessary tol'trшl оut the names and addresses of potential busi-rrr.нs partners. one way of obtaining this informa-l'i l l lt is to send an enquirу to one or more of the fol-lоw i rrg organisations:
..l'he Chamber of Commerсe
. A bank
. Anotlrеr сompany - рrovided the сompanу's ownllrttlrests are not negativelу affeсted bу giving youl, l r is infoгmation
. If jlou аre looking for partners or suppliersrtllroad, you сan writе to the сoтtstl]эtе оf thе foreignr:tlttntrу in question. T}re сonsul's tasks inсlude rep-t rlвenting his сountry's eсonomiс interests abroad
. It is also possible to write to the enrtlаssу оf the|'llreign сountrу. Hotvever, the task of an аrnbassa-rltlr is mainly diplomatiс and the embassy may not belrЬlе to provide as muсh сommerсial information.
enquiry, inquiry taпpoсChambеr of Commerсe Topгoвaя IIaлaTaсonsulate кoнсy.тlЬствoсonsul кoнсyлembassy пoсoльствoambassador пoсoл
2. General enquiry
onсe уou have obtained the name and address of a sup.plieг, you сan send him a geneгal enquiry asking for
5555555
Сommеrсiа| Еngl ish
information about the goods he supplies. For example,if you are a retailer of eleсtroniс goods and are look-ing for new suppliers' you сan write a general enquiryto a manufaсturеr or'лholesaler and ask for сataloguesand priсe- l ists. From these, Уou сan then deсidewhether you want to do business with this сompany.
3. Speсific enquiry
If you need more details, for example if you al-ready knоw what goods a сompany supplies butneed information about how long it will take forthe goods to reaсh уou' you сan send a speсifiсinquiry. Information you may ask for in this typeof inquiry inсludes:
. Terms of delivery
. Delivery times
. Terms of payment
. Disсounts
. Types of paсking
supplier пoсTaBщиrсgeneral enquiry общий зaпpoс
speсifiс enquiry спeциaЛЬIIьIй зaпpoс
terms of dеliverу yслoBия IIoстaвки
delivery timеs сpoк пoстaвки
terms of paуmеnt yслoBия olтЛaтьт
disсount с}tи,цкapaсking УпaкoBIсa
Еxеrсisе 1' Here агe somе phrases from еnquiry |etters.Whаt kind of еnquiry is соnсernеd in eaсh сasе?
]. We owе youг address to the Сhаmbеr of Сommеrсe inLOnOOn...
2. . . .arе |ooking for supp|iers of f inе wines in Fгаnсe.. .
l l I l l | l I l l . l l ( l i l l ry to sa|еs сontraсt
l tr ' t1ttеst inf ormаtiоn about quаntity disсounts.. l . ttt ' vеry sаt isf ied with your exесution of our f i rst order.
NtlW W€ wou|d l ike to know whеthеr you сouId grаnt usi() ( iаУs' сredit. . .
' , . tr l t l rеssеs of еxporters of Russian do|!s.t ' wtlt l ld lrkе to know what kind of goods you have to of fer./ | trr l l l your сata|ogue Wе see thаt. . .l t l l r t ' foreign trade department of our bank told us thаt you. ' .
4. [nvitation to tender
Arкrther way of obtaining offers from suppliers is to
;llltr:сl an advertisement in a newspaper or other pub-
lltllrtion. This advertisement is сalled an invitation
|,ll lеnder and is a method often used by publiс insti-
t,rrtions suсh as government offiсes. Companies who
ttrtl interested сan then submit their offers - in this
l.lrнс. сalled tenders - and the best one is сhosen to
нrr1lply the goods or serviоes required.
19
offerinvitation to tendertеnder
I]peдЛoэкeIIиe
oбъявлeниe TеIiдepa
TеHдep
I tеre is an example of an invitation to tender (look
grпge 20).
Lxеlсlsez Rеаd thе invitаtion to tеndеr аbovе and аn-swеr the fo| lowing quest ions.
l, Whаt organisation is asking f or tendеrs?2. What exасt|y is this orgаnisat ion аsking f oг?]. Whаt aгe thе tеrms of paymеnt?4. Whаt is the dеIivеry t imе?5' What address are thе goods to be dеl ivered to?6. When is the f inaI dаte for rесeiving tеndеrs?7. Using your own words, desсribe thе fасtors whiсh thе orgаni.
sаt ion wiI| сonsidеr when dесiding whiсh tеnder is the best '
20 Cornmеlсial Еngl ish
PUBL|sнЕD Noт|сЕoPЕN lNvlтAтIoN тo тЕNDER No. 241101The suрp|y of .l20 sets of offiсe furniture
1. Awarding аuthority:Тi|borough Muniсipа| Сounсil, Зб High st'. ТiIborough TN.] 4Hj2. Awаrd рroсedure:Pub|iс invitation to tеndег \^/ith disсrеtionary аwarсi оf сontraсt.3. Desсription of the сontraсt:a) Purpose of the сontaсt;Тhе supply of 120 sеts of of fiсе furntturе for thе nеw lосаl qo.Vеrnmеnt of fiсes in thе BristoI Road. ТiIborouoh.b) Division into lots:Lot .]: dеsks and реdestаl drаwer unitsLot 2: сupboards and shе|ving unitsThе two iots mаy both bе аwarded to onе biddеr or mау bе sеpаrаtеlyawаrded to 2 biddеrs'с) Terms of paymеnt:Paymеnt wjll be madе foI|owing ассeptanсе of thе furniturе'4. P|асe and period of performаnсe:а) Plасe аt whiсh the сontraсt is to be pеrformed:Tilborough Loсаl Govеrnmеnt 0f fiсеs, 1З2 Bristo| Road, Тi|bоroughТN] gtG.b) Durаtion of сontraсt or time |imit for сompletion/de|ivery ofwork/goods:Тhе f urniturе is to bе dеiiverеd betweеn oсtober and Dесember 200]'5. Reсеipt of bids:Тhe fina| dаtе for the reсеiрt of bids is 15th' Мarсh 2001, 12 noоn.2 сopiеs must bе submittеd in аdditiоn to thе originаl, r,vhiсh is to bеmаrked аs suсh. Bids to be sent to the addrеss iгr point 1'6. Pеriod during whiсh the bidder is Ьound by his bid:onе yeаr following thе fina| datе for rесеiрt of brds rn ро'nt 5'7. Сriteria for thе аwаrd of сontrасt:The сontrасt shаll be awаrdеd to the biddеr whose bid is to bе pre-ferrеd with rеgаrd to thе bidder,s аbil ity to mееt thе аwarding author.ity,s nеeds аnd rеquirеmеnts, to bе mеаsurеd рrimаriIy by thе tесhniсаlquа|ity of thе brd, thе biddеr,s еxpеriеnсе with рro1есts of a similаrnaturе and есonomiс аdvantagе'8. Other information:As part of its еvаluation of the bids, the awаrdinq authority may rе-quеst brdcеrs to suppIy. frее of a|| сosts and сhargеs tо thе awardingаuthority, sampIing of thеir f urniturе. lt is аntiсrраtеd thаt sampling wi||tаke plaсе аt thе beginning of April 2001.
|| | l ( l l l ) ( ' r lqulrУ tO sа|es сontraсt
Offers
Wlrtln a sеller makes an offer or quotation, he pro-
lll itJ(}s to supplу his goods on the terms stated in hisrl|'|.tlr. This means that if a buyer plaсes an order onl.lrr' Ьasis оf the sеller's offer, the seller must supply|,lrrl goods as promised. offers сan be made orallУ orilr writing, although oral offers are usually сonfirmedIlr writing to prevent disagreеmеnts.
Srlliсited offers are made in answеr to an enquirУ,wltеreas unsoliсited offers are sent on the seller'sllwrr initiativе in the hope of interesting potentiall : ttнtomers.
LxеtсsеЗ Are thеse of fеrs so|iсitеd or unso|lсitеd?
l Тhаnk you for your Iеtter dated . lOth. Apri| сonсeгning. ' ./ ' We havе been given your addrеss by.. .| ' As one of the |еаding mаnufaсturers of earthenwаre pots
in Spаin wе wou|d l ike to of fеr you...4 ' In your enquiry you stаted thаt you аrе |ookrng for.. .' t ' We are glad to hear that our сatаlogue wаs of interest to
you.tj . Тhe Сhаmbеr of Сommerсe informеd us that VoU аrе аn
imoorter of. . .
21
seller пpoдaBeц
quоtation paсцeнки; пpaйс.лист
buyer пo}tyпaтeЛь
to plaсе an order paзшIeститЬ зaкaз
soliсitеd offer oTBeтнoe Пpe,цлo)rсeние IIo 3a-пpoсy
unsoliсitedoffer пpeдлo}*tеIlиeпoсoбствeннoйиIIиIIиaтиBe
Сommеrсiаl EngIish
Essentials of an offer
Ideally an offer should give information about asmany as possible of the following points:
a) Type of goodsb) Quantitу of goodsс) Priсesd) Disсounts (e.g. for early ordering/paymentn
large quantities)e) Delivery timesf) Terms of delivery (see сhapter VI)g) Terms of paуment (see сhapters III and V)h) Type of paсking
Еxerсise 4. Саn Vou matсh thе two сolumns?
i I l l () l r) еnqUiry to 5аjе5 сontrас1
l ' l l l l irrd himself to the terms of his offer, for eхampleilr Llre сase of сertain goods where the priсes fluсtu.rrttl (oil, gold), if stoсks are limited, or if industrialrllнputes mean he may not be able to deliver on time.Ilt suсh сases' he сan inсlude сertain phrases to makei[ сlear that he may withdraw his offer at any time.
23
firm offеr, binding offeroffer without engagement,non-binding offerto withdraw an offer
valid
fluсtuatelimited stoсksindustrial dispute
TBеptoe Пpeдлo)fiellиeпpeдлo}кeниe бeзoбязaтeльствoтмeнить/oтo3BaтЬпpeдJIo,кeIrие
дeйствитeльньrй;имeroщий силyкoлeбaтьсяoгpaничellньrй зaпaскoнфликтьrв пpolvIьIIIIдeIIнoсTи
1. Type of goods2. QuantityЗ. Pr iсеs4. Disсounts
A. Сash on del iveryB С|F DovеrС. 800 unitsD. 2 wееks aftеr rесеipt of ordeг
5. Теrms of dеIivery Е.5o/o of f orders pIaсedwithin the nеxt 7 days
6. Тerms of payment F. seaworthy сontаlnеrs7. Del ivеrу t imе G. woodеn kltсhеn сhairs8. Paсking H. $50 per unit
Tуpes of offer
Firm (binding) offer: The seller must provide thegoods at the priсes and terms given in his offer, andmay not сhange or withdraw his offer after it hasbeen madе. However, he сan state how long he blndshimself to his offer (e.g. "This offer is valid until15th. oсtober'').
offeг without eng:agement (non.binding offer): Cer-tain faсtors maУ mean that the seller does not want
Lxеrсtsе5 Тhese sе||ers a|| found themseIves in s ituа-t ions whiсh meant they hаd to mаke non-binding offеrs, Whiсh of thе phrаses belowdid they use?
| Мr. Farmеr mаdе аn offer for 100 bаles of hay. Howеver,.rt the t ime hе mаdе his of fer, the poor wеathеr сondit ionswеre mаking аI l fаrmеrs nervous.
., Mr. Vintnеr produсеs a l imited numbеr of quа|ity winеs. Hеrloes not produсе enough of thеsе wines to suppIy еVery-l lody who аsks, and so hаs to inс|udе an appropriаte с lausеwhen mаking offеrs.
l Mr. Kitсhener,s сompany eХports fr idgеs аnd fгееzеrs.At prеsеnt he is having problems With his suppl ier, аnd hес.аn,t guаrаntее untiI thе vеry |ast minute that thе goodswilI bе drspаtсhеd on t ime.
4 the Boston Теa Сompаny impoгts tеа fгom India and sе||stt to Arneriсаn rеtаilеrs. However, inсrеasing |аbour сosts
and а pooг hагvеst mеаns thаt thе pгiсe of tеа is r is ingrаpidIy.
5. Mr. Kееpеr imports еxot iс animаls suсh as snаkes аndmonkеys for pеt shops' Natura|ly i t isn,t aIwaуs еаsy tоobtаin thesе animаls just whеn theу arе vr lаnted', ,Тhis of fer is sub1есt to bеing unsold' , ,, ,Тhis of fer rs subjесt to avarIabi l i tу ' , ,, ,our pr iсеs are sub1eсt to сhange without not iсе., ,, ,Тhis offer is subjeсt to a good hаrvеst., ', .Тhis of fеr is sub1eсt to frnаl сonftrmation', ,
Еxеrсisе 6. Hеrе is а typiсаI оf fer letter. Read it and an.swеr thе ouest ions bе|ow.
MсLeod Кnitweаr27 Pitloсhry RoadЕdinburgh EHl 9tG
Sсotland21'l Januarу 2001
Тhе Sсottish Shop64З СаIedonlаn RoadNеw York, NY 5з275USADeаr Srrs,Тhе forеign trаdе dеpаrtmеnt of our bаnk informs us thаt уoU arе аnimрortеr of quаiitу Sсottish goods. our сompany is onе оf thе lеadingmаnufaсturеrs of traditionаl Sсottish knitwеar and wе are sending youour сataloguе in thе hopе of doing lэusinеss with you'Should yоu bе Intеrеsted, Wе саn of fеr you thе following vеryab|е tеrms:- Сhildrеn,s аrаn swеаtеrs @ $59 еaсh- Ladiеs,аrаn swеаtеrs @ $79 eасh- Gеntlemen,s aran sweаtеrs @ $99 еасhThe priсеs stated abovе аrе СIt G|аsgow and inсludе sеаworthy paсkingWе сan grant you а quаntity disсount of 59lo off ordеrs оf 200 sweat.(l l( ' Or lт)оre, Dеlivery саn be еffесted within 6 wееks of rесеipt of orderPаyrт lеr l t is to br ' t . f f r ' r l r ,d by |etter of сrеdit .Тhis of 1еr is з i lb1t ' r t to сoпt irmаt lon'Wе hоpе to hеar from yоu sсltln апсl assure уou that your ordеr wi|| bееxесutеd to your bеst satisfасtion'Yours fаithfuIly,MсLеod Knitwеar
СommеI.сia| Еngl is l^ Il From enqutry to sa|es сontrасt
l |s this a so|iс i tеd or an unso|iс i tеd of fеr? How do you know?2. Is i t a f iгm of fer or аn of fer without engаgemеnt? How do
you know?3. What kind of goods аrе berng offеrеd and how muсh do
they сost?4. Whаt arе thе tеrms of del ivеry?5. What is the de|ivеry t imе?6. What arе thе tегms of paymеnt?/. Whаt inсеntive does the sеI|еr offеr in thе hope of сon.
vinсing thе buyеr to p|aсе a largе ordeг?
Orders
If the buyer is satisfied witlr the terms оf the seller'stlffer, he maу then plaсe an order. There are a numberоf different types of order:
Lxerclsе-Z Mаtсh the two сo|umnsI Tr iа| ordеr (а) Тhe сUstomer pIaсеs one order f or
a сеrtain quаnt i ty of goods to bedel ivеrеd аt regu|аr inteгvаis, е.g.500 kq. of сoffeе on thе f i rst dаyof eaсh month.(b) Thе seсond ordеr pIaсed withа сompаny.
trial ordеrfirm ordеrstanding orderinitial orderfollow.up ordеrmerсhandise otr сalladvanсe ordеrbulk orderrepeat order
пpобньlй зaкaзтвеpдьrй зaкaзIIoстoяIIIIЬIй зaкaз
пepBolraчaЛьньrй зaкaзпoсЛeдyющий зaкaзтoBap пo тpебoвaниrопpeдBaplrTeльньrй 3aкa3oптoвьrй 3alсa3пoвтopньrй/мнoгoкpaтньrй3aкa3
/ l i rm order
Сommerсia| Еnql ish
З. Standing order (с) Тhе сustomеr ordеrs a smа|| quan-t i ty of goods to test thе qua|ity.
4. |nit ia| order (d) Тhе сustomer сommits himsе|f tobuying the goods. Тhis type of or-dеr mаy hаve а fixеd de|ivery dаtе.
5. Fo|low_up order (e) Тhe f irst order p|aсеd with a сom_pаny.
l l I l()rn еnqUirv to sаIes сontrасt
, , , to rеordеr thе goods, thе ordеr of whiсh wаs pIaсed on17' l , . Marсh'' . .2OO rеаms of papeг to be dе|ivered on the |аst workingt lаy of еaсh month, Sаturdays еxсеpted.
l() ' As our wаrehouse spaсe is l imited and сustomеr dеmаndlor the goods is high, we wou|d I ike to p|aсe а.. .
l] .аnd as We havе heard that supp|y is beсomrng inсreа-,; ingly dif f iсuIt, wе would | ikе to p|aсe аn ordеr now forthе goods to be de|iverеd at the bеginning of next year.
l/ . . . .qua|ity and quantity as bef orе'l J. Wе have reаd your teгms of tгade аnd аrе sаt isf ied with
your сondit ions. Тhеreforе we wou|d | ike to p|aсе a.. .!4. .'.to be deliverеd evегy two wееks.l ,>. We hope this order wi l l |еad to f urther business гe|at ions
between our f i rms and...lb. . . .de|iveгy to be effeсted on 25th' August.
txеrсЬе-9 What kind of ordеr do you think eaсh ofthesе сustomers wouId p|aсе? Thеrе may bеmore than onе сorrесt аnswеr|
l Mr. Brown import саrpets f rom Тuгkey. RесentIy а businessfr iend gave hlm the namе of а new supp|iеr in Turkеy.
/ Mrs. Gаrr lсk has а smаl l сIothеs shop. Hеr с lothеs sе|| vеryquiсk|y аnd so shе prefеrs to ordeг |arge quantit ies. Ho-Wever, shе doеsn,t hаve enough spaсе in the baсk of hershop to storе а Iot of сlothеs.
t Mr. Whee|er is the owner of а pet shop. He speсiaI isesin rеpt i|es, espесiаI ly snаkеs. Reсеnt|y he heаrd from hissuppIier thаt in thе next fеw months i t wi l l beсomеrnсreasing|y diff iсult to import thеm, and so snаkes or-dеred аfter thе end of this yeаr wiII beсome сonsiderabIymore expensivе.
4 Mrs. СolI ins is thе ownеr of a сheesе shop in the south ofЕng|аnd. Shе seIls |аrge quantit ies of some typеs of сheese,f or examp|e Сhеddаr, аnd would f ind i t сonveniеnt to havelhе Сheddаr dеl lvered еvеrv weеk.
r l
6. Merсhandisеon сaII
8. BuIk oгder
9. Repеаt ordеr
(f ) Thе сUstomеr ordеrs the goodsa Iong t ime beforе he needs themor а |ong t ime beforе thеy аre аvai.lable.
7' Advanсe order (g) Тhe сustomer orders goods in |аrgеquantit ies.
(h)Тhе сustomer orders еxасt ly thesаmе goods as before.
( i) The сustomer p|aсes one ordeг forа quantity of goods whiсh he hasdel ivered ln parts as and when hеneeds them.
Еxеrсisе 8. Hеrе are some phrаses from order |etters.What kind of ordеrs havе thеse сustomеrsplaсed?
. l . PIease send us the fo| lowing сof fеe for test pUrposes:100 g. Frenсh roаst100 g' Brаzi| ian brеakfаst100 g. Jаmаiсаn bIend
2. . . .wouId bе grаtеfuI i f you сou|d send us as bеforе. ' .З. . . . i f thеrе is аny possibi| i ty of you granting us a quantity
disсount on this order?4. |f this order proves sat isfасtory Wе wi l l plaсе а sесonсi
order nеxt month.5. .".аnd so Wе wiI l сa|| you whenеvеr we requirе nеW stoсks.6' ...to bе de|ivеrеd by the end of the first weеk of еvery
month.7. . . .20,000 pаirs of white tennis shoеs @ $15 a pair. . .
l l ' From enouirv to sa!еs сontraсt 2928 Сommеrсia| Еngl ish
5. Mr. l tz. lohаmmed owns а Wаrеhouse in London and isa wholеsа|er of сhеаp с|othing, whiсh he thеn sеI|s to mar-kеt tradеrs. Нe | ikеs to get thе goods as сhеаply аs possi .bIe, аnd knows that most manufасturers offer а disсounti f goods аre orderеd in lаrge quаntit iеs,
6. Mr. Grahаm mаnufасturеs mасhlnеs to soeсif iсаt ion. Hеnеeds somе pаrts to сomplеtе а mасhinе whiсh hе is сur-rent|y bui lding' Howevеr, he is a brt worr ied as the сustom.еr needs thе maсhinе in 4 weeks, t imе, аnd this won,t bepossib|e i f hе doesn,t gеt the parts by а сеrtain date'
7. Mг Vintner is аn еxс|usive retaiIеr of f inе winеs. Еvery yеar,hе l ikеs to havе just onе bott|е of еaсh nеw wine to trуbefore deсiding whеthеr or not to stoсk i t in his shop.
8. ReсеntIy Mгs. Johnson' the ownеr of а bookshop, orderеd20 сopies of а nеw сookеry book' Тhе book so|d so we||thаt shе has deсided to order аnothеr З0 сopiеs.
9. Mr, Wеаtherf ie ld is thе owner of а shoе shop. Reсently hеestabl ished сontaсt with an еxportеr in ttaly and was sosаt isf iеd with the еxесution of his iгr i t iаI ordег that hе hаsoгdeгеd exасt ly the same аgаin.
Sales сontraсt
The sales сontraсt is the legally binding agreemеntreaсhed bу the seller and the buyеr (the рaгties tothe сontraсt). It сan be made orally oг in writing'although it is usual for the соntraсt to be dгawn upin writing to prevent disputes.
There are three ways to сonсlude a sales сontraсt:
l.. This is the most normal way of сonсluding a salesсontraсto beсause most offers are non.binding.As non-binding offers сan be сhanged or rvithdrawnat anу time, a sales сontraсt does not exist untilthe seller сonfirms the order, making any сhangesimpossible.
Buуе.r
2. Sellers tend to makе firm offers when tradingin goods where thе priсes fluсtuate a lot. They seta fixed priсe and if the buyer doesn't plaсе anorder r.vithin the period of time where. this priсe isvalid, the offer expires. The seller сan then makeanother offer with new priсes to keep up with thepriсes on the market.
I mаke tltе buУeг arrttnесllrditiоlral (binсling) оffer. ..
-*'/'t' ...alrd thе сotrtraс:t isсоnеIrrсi'еtl ъ,}rrlr I plaсe arrоrder within thе pеriоd oftirrrе stаted in the оffer.
I make t}rе buyеrn nоn-bi,lrdi*g оf{ег.."
€\
\ZSdler
$j/
$
..'alrd t.ltс соntrасt isсolrсiudесI rvhеtl I соtrfirпr
Сommerсiаl Eng|ish
3. In this сase, if the buУer is not interested in thеgoods' he is expесted to return them within a сertainperiod of time, otherwise he will have to pay for them.
ф^\
nr
After a sales сontraсt has been сonсluded, the sellerand buyer havе to fulfil сertain liabilities (that meansthere are сertain things they have to do).
The seller's liabilities are:. To deliver the goods on time and in pеrfeсt сon-
dition.. To ensure that the title to the goods is trans-
ferred to the buyer - in other words, the seller hasto make sure that the buyer beсomes the owner ofthe goods. This is normally done by passing a speсialdoсument, the doсument of title, to thе buyer.
|| [ 'rom enquirv to sаles сontraсt
'Гhе buуer's liabilities are:. To aсоept delivеry of the goods (this prevents him
сhanging his mind after the goods have been sent).. To pay for the goods within the time agreed.
lf one party doesn't fulfil its liabilities, the сontraсtlн broken (this is сalled breaсh of сontгaсt). Itr thist:аве the other party (the injured partу) сan сlaimr:ompensation.
to fulfil вЬIпoЛIlятЬ
liability oбязaтедьствo
title пpaBo сoбственrroсти
doсumеnt of titlе дol{yмeнт' дaющий IIpaBoсo0сTвeнIloсти
breaсh of сontraсt ЕapУIIIeIIие toгoвopainjured party пoстpa.цaBIIIaя стopoнa
сompensation кoпдпепсaция
Еxerсise 9. Did a breaсh of сontrасt take р|асе? lf so,how? lf not, why not?
l A mаi l ordег сompany sent some goods to Mг. Wi|I iams.Howevеr, he refusеd to ассеpt de|ivеry of them аs thеyhаd not been ordеrеd.
2' Mr. Abraham ordered 20 teIevis ions from a сompаny seIl-ing e|eсtr iсal goods. Howеver, hе hаd to return onе of thеtеIеvis ions beсausе it didn,t work.
3' Mr. Watson ref used to pay thе f u|| pr iсe for a сustomisеdmaсhine he had ordered, beсаuse it didn,t еxaсt|y mееt thеspeсif iсat ions hе hаd given'
4. Mr. Adams sent а f ree sаmp|е of wine glasses to а potеn-trаl new сustomer. Unfortunatе|y, the paсkаge burst opеnin the post and the g|аsses were broken.
5' Mr. Wright sent some spare parts to аn air l inе. Howеver,а sеr ies of stаff str ikes brought the arrI inе into f inаnсiaIdiff iсu|t ies аnd his invoiсe wаs on|y pаid s ix months |аtеr.
I sсrrd *ame goods tо thеbuуer in tlre lrоpе tlrathе will be intrrested...
'..altd the rоntraсt isсоnсluсle{l wlren l brrytlre gооds.
sales contraсt дoгoвop кyпЛи-пpoдa)киparty to a сontraсt дoгoвapиBalощaяся
стopoI{ato сonсlude a contraсt зaклк)чиTЬ дoгoвopunсonditional бeзyслoвuьrй'
бeзoгoвopoчньrй
Complaints and adjustments
If the seller сauses a breaсh of сontraсt, or if thereis else something Wrong rvith the exeсution of theorder, the buyer сan make a сomplaint. Here arеsome of the things a buyer сan сomplain about:
. The goods are of inferioг quality.
. The goods are damaged.
. The goods lvere lost in transit.
. The priсe is inсorreсt.
. There was a delay in delivery.
. The goods were shortshipped (the weight wastoo low or the quantitу too small).
. Thе wrong goods were deliveгed.
. The goods do not matсh the sample.
If the сomplaint is justified, the sellеr has to makean adjustment, i.e. he has to offеr the buyer somеform of сompensation. There are four possibilities:I.. The seller invites the buуer to RETURN the goods
at the selleг's eхpense.2. The seller REPI"AсЕS the faulty goods at his own
eхpense.3. In some сases' the goods сan be RЕPAIRЕD by
the seller or at the sеller's expense.4. The buyer kеeps the goods, but the seller offers
him a pгiсe REDUсTION.
СоmmеrсiаI ЕngIis i ' || l r()m enoulrv to 5a|es сontraсt
I f the seller is late in delivering the goods, thellttyer сan send one or more reminders and tell theнllller that he will withdraw from the сontraсt if|,lrсl goods are not delivered by a сertain date, thel'lrral deadline. It сan be that the buyer reservedtlrо гight to сanсel thе order if delivery was late.llr this сase, hе сan сanсel his order without send-i l rg any reminders
|l. <:an happen that the buуer suffers a loss if thegtxlds are delivеred late ._ he may lоse business, fort'xltmple. In this сase, he сan сlaim damages froml,lrrl вeller; that means, he сatt start legal proсeedingsl ' l l t 'сompensation. However, i f thе delay is сaused byl.lttltоrs beyond the seller's сontrol, for example floods,r.rtrthquakes' war etс., the sellеr is not liablе for anушt' the buyer's losses.
justifiedadjustпlentreminderdeadlineto reseгvе the rightto сanсelto suffer a lossto сlaim damages
oбoснoвaнrrьtйпoпpaвкa(письмo)-нaIТoМинaниe
кpaйний сpoкoсTaBЛять зa сoбoй пpaвooTшIeIIяTЬ
пoI{eсти yбьlтки
тpебoвaть BoзtvleщeIIия
Lxсrсisеlo What kind of аd justment wou|d you expeсtin eaсh саse?
l Yt l tt ordеrеd two сhests of best quаl i ty Сeylon tеа. Ho.W('vРr, when it аrr ivеs, you f ind that the quaIity is infеr iorIr l thаt of the samp|e.
. lYtttI ordered 50 |аdies,drеssеs ln s ize 40. Howеver, therlt l . . , . , t 's dе|ivеred аre s ize 42. Nеvertheless, thе qual i ty is' ; . ' . ' . l . l t ld you think thеsе dresses wi| l sel l just as wel l .
еxeсution вЬIпoлIlениeсomplaint пpeTe}Iзия; peклalvlaцияinfеrior зОecь: некaчeсTBeнньrй, плoxoйdamaged пoвpeэкдeнньrйin transit в пyтиdelay in deliveгy зaдеp)ккa пoстaвкиshortshipped нeдoпoстaвлeнньrйsample oбpaзeц
З. You orderеd 20 porсе|ain dinnеr seгviсes. Howevеr, whenthey агr ive уou f ind thаt duе to саrе|ess pасking, quiteа lot of the pieсes аre broken.
4. You ordered 40 pairs of hаndmаdе lеаther shoеs. Whеnthey аrr ive, yOU seе that the st i tсhing on onе of the shoеsis brokеn.
5. You oгdеrеd 6 wаshing mасhinеs, to be dеIiverеd within14 dаys. Howevеr, 6 wееks |аtег thеy st i l I hаven,t аrr ivеd'
Rеrninders
If the buyer fails to fulfil his obligation of paying ontime, it is сustomary to send three reminders:
Pаyment beсomеs ovеrdueIY
Sеl|еr sеnds f i rst rеminder. Тhis mаy be a hiddenor Govert remindеr; thаt mеans i t mаy be inс|udеd
in аn offer or sa|еs |еttег to the buyeг
t lt t
Buyеr requests deferment It thе buуеr doеsn,t answer,of pаyment or mаkesa pаrt-paymеnI
а seсono rеm|n0er ls sеnI
Сommerсia| Еngl ish Il lrr;m еnquiry to sа|es сontraсt
rеminder IIaпoMинaIIиeoverdue пpoсpoчelrньrй; зaпoздaльrйhiddеn,сovеrt скpьrтьrй;кocвeнньIйdeferment oTсpoчкa
Questions for revision
l. What is the differenсe between a general andrt speсifiс enquiry? Desсribe using examples.
2. What is the differenсe between a soliсited and anrrnsoliсited offer? Desсribe using examples.
3. What is an offer without engagement and when islt used? In the сase of an offer without engagement,how is the sales сontraсt сonсluded?
4. What is a firm offer and when is it used? In theсase of a firm offer, how is the sales сontraсt сon.сluded?
Б. What is tlre differenсe between a trial order andnn initial order?
(l. What is thе diffeгenсe between a repeat order andп follow-up order?
7. What is the differenсe between a standing orderltttd merсhandise on сall?
ti. What do уou understand bу breaсh of сontraсt?( l ive some examples.
t). Desсribe the reasons a buуer may have to makelt ссlmplaint. What kind of сompensation would you,lrн tlre buyer, offer in eaсh сase?
l(). What сan Уou' as the seller, do if the buyer failslо l'rrlfil his liability of paying on time?
з5
Buyеr гequеsts dеfermеntof payment or makesa part-раymеl l t
l f thе buyer doеsn,t ansWеr,the sel|еr sends а third rеmin-deг with a f inal deаdl inе f oгpаymеnt аnd stаtes his intent ionto takе |egaI aсt ion i f paymеntisn,t mаdе bу this dаtе
IIt
l f therе is st i I l no rep|y, the se| ler tаkеs Iе9а| aсt ion agаinst thеbuyеr
lII. Terms of payment for domestiсtrаde
СWo (Сash with ordеr)СoD (Сash on Del ivеry)Payment on invoiсеН'P' (Hirе Purсhase)open-ассount teгmsLеasingQuеstions for rеvision
Wlllrtt deсiding on the terms of payment, the sellernrrr l brryer have to agree on:
. When to pay (for example in advanсе' on delivery)
. How to pay (for example сash, сheque, transfer)
. How muсh to pay (whether the seller is prepared|,rl gгant any disсounts).
'Гypes of disсount:
l. I]ULK (QUANTITY) DISсOUNT: granted when thelrrryer orders a large quantity.
..If уou order more than 250 units, we'll give you
а 10% disсount. ' '
2. ЕARLY PAYMENT DISCOUNT: granted when thelltlyer pays within a сertain period of timе.
..If уou pay within 7 days, Уou сan deduсt 5%
from the priсe.''
5555сl.
55
:|. сAstI DISсOUNT: grantedr . l tнh.
..[f you pay сash, we'l l give
to grantto dеduсtbulk disсountearlу paуmеnt disсountt:ash disсount
whеn the buyer pays
уol 2o/o off .,,
IIpедoстaBЛятЬ
yдep,rсиBaтЬ
oптoBaя скидIсa
сIсидкa зa IlpeдoпЛaтy
сI(идкa IIpи oIIЛaTeIIaЛиЧIIЬI1!!и
,l ' ltt. ltlrnts of payment desсribed here are all partiсu-Irrr. lv stt i table for domestiс trade.
This is fаvоul'ahte fог rrrе' brс*rtsetJtere is rtсr risk оf mе rrоt gеttingрауnrent fог thе gоосls, As p*уnr*rrttn*у aгrit.е sоlrrе tirrrе befоrе tlre gооdsarе sеnt *ut- it ttlsо rnедtr* I сfltt rvs}rk
Titiв is nоt sо fаvоuгablе for ntt:,bсслrtsе if tliс selleг is lrlrгeliab}е,l might ряy f*r tlrе gоods arrсl lrоtgrt t}rеltr. Arrrl. if I h;.rvе tо rеttrг-ntlre gоосls fоr аtry reasоl}! t hаr,rtсэ make suге that I grt nry Шоne}r}rrrсk'
Сommeгсiаl Еnql ish |||. Тerms of pаvment for domestiс trade
COD (Cash on Delivery)
The buyer paУs the сompany whiсh delivers the goods(for example the post offiсe or the сaгrieг) at thetime they are delivеred. The payment is then trans-ferred to the seller.
Hеrе tоr:, the riвk оf rnе nоt beingраiсl is minirlr*l. .llnсl evett if thebuуer refttsеs tо ассеpt dеlivеryarrt1 рaу, l dоrr.t lоgе t}rе gооtls.
}Iеre I n* lоngег rrrrr thе risk ofrrоt rесеiтing gоосl.х I'vr р*id fог.Тhе пtain disвсlv{'nt.аge fог nrс isthаt ] dоn't }rаvе the сhanсe tоitrsре*t tlrе gо*ds Ьеlоrе рetуitrgfог thsШ.
()оmpanies whiсh don't know anything about the fi-tltttrсial standing of their сustoпrers (e.g. mail orderr:оmpanies) prefer to use this term of payment.
39
сWo (Cash
The buyer sends payment
with Order)
with his order.
bh tlrе mОnry.
SеIlеr
Beсause this term of payment сarries a сertain riskfor the buyer, he will generally onlУ agree to it inсertain situations:
. If he is doing business for the first time witha reputable сompanУ.
. If the seller gives him a disсount.
. If he plaсes a speсial, expensive order (for exam-ple a maсhine made to speсifiсation, where the sellerwould have problems to dispose of the goods else-where), the seller may ask for a part-paуment to besent with the order.
сash with order oIIJIaтa пpи зalсaзefavourable пpeдIIoчTиTeдьньrй
unrеliable ненaдeхсньrй
to dispose of избaвляться (oт); сбьrвaть
40
сash on delivery ollЛaтa IIpи IIoсTaвкe;<(гIo фaкTy>>
сarrier пepeвoзчикmail order сompany пoсьIЛoчIIaя кol
Commerсiаl Еngl ish lI l . Тerms of pаyment for domestiс trаdе
opеn-aссount tеrms yслoви.я oткpЬIтoгo счeTastatement of aссount BЬIпискa пo счeтvto owе бьrть .цoдlкньrwrto settlе paспЛaчиBaтЬся'
рaссчитьIвaTьсяdebt дoлГto rеtain oсTaвЛятЬ; сoxpaнятЬ
Leasing
Leasing is different to the other terms of payment,beсause the title of the goods does not сhange hands.It is generally used for larger objeсts suсh as build-ings, land and maсhinerУ.
A lease is an agreement between the owner of theobjeсt (the lessor) and the person who wants to use it(the leaseholdeг or lessee), whiсh gives the lease-holder permission to use the objeсt for a fixed period,
I.,еnsitlg is gс;ос1 rvr*у fоr nrt: tо еt}rtrа rеgttlaг ittсоtnе frоrlr trrу ргopert}.Livgr a iоrrg реriосl' Thr tшain risk fоrnrе }rerе is ilrat tltе lеяsеlrсr-lсlег нtlуп.оt irе a1rlе t* kееp tlp his paynrents,
4з
everУ month or quarter whiсh states the total amounthe owes the buyeг. He is then eхpeсted to settlea minimum amount of his debt (10% of the totalamount, for example).
Aя witlr !{-Р'' tr rrr'lr the risk оf thе tirrуerriоt being вblе iо kвtrр uр t}rе р;rymelrts"At least it's nrоre соnтetri.rtlt fоr: nr* if I оп}yirаv* -чend art irtvtliс;e oilсе а rnоrrtlr or orlсеevsrу thrсе nrоntjrs.
#ь\r
LInlike II.Р.' I сall опl1, pгоfitfrоm this terlтr оf 1layшеrrt ifI plaеe rеgular *rdrr. }l*tvrr.сr,the arlvantagеs fоr ffe Bгgthе sапr*.
Do you remember what ..title'' meaтls, with regard tosales сontraсts?
Paуment on invoiсe, hire purсhase and open-aссountterms сan all be riskу for the seller, as he is depend-ent on the buуer's ability and readiness to pay. Forthis reason, he retains the titlе of the goods untilthey havе been сompletely paid for. That means thebuуer can use the goods but theу remain the proper-
ty of the seller until the buyer has made full paу-
ment. This ensures that the seller сan get the goods
baсk if the buуer doesn't paУ for them.
Ё,Г\
Y
\/
ёqrks.rildlerтгd.
г}1.
t.
Thаrrоf iэuI оtlrraffог
c&r.l il
э lеasirrg,lgs turd t** *tiдht
usuallУ several Уears. In return, the leaseholder paуs Questions for revisionrent to the lessor, and is responsible for the objeсtleased (he has to arrange insuranсe and сarry out 1. Compare CWo and CoD.
repairs, for example). 2. tI.P. and open-aссount terms both rеquire the buyer
When the lease expires, thе leaseholdеr may be able to paу in instalments. What is the differenсe be-
to еxtend it or even to buy the objeсt leased at tween these two terms?
a reduсed priсe. In the сase of items suсh as teсhni- 3. How is leasing different from thе other terms ofсal equipment, he may be ablе to return the objeсt payment desсribed above?and take out a lease on a newer lrrodel.
4. Whiсh of the terms of payment сlesсribed above is
СommerсiaI ЕngIish l||. Тerms of paymеnt for domestiс trаdе
most favourable for the seller and why?
б. Whiсh of the terms of payment desсribed abovе ismost favourable for the buyer and why?
lease apеIrдa; дoгoBop apeн.цЬIlеssor apендoдaтеЛьleaseholder,lеsseе apеIl,цaтoprent apeIIдIIaя плaTa
to expire истeкaтЬto еxtеnd пpoдЛевaть
Цеrсrsе-l. Whiсh terms of pаymеnt might you offerthese сustomеrs?
,] ' A сustomеr сomеS lnto your musiс shop and wаnts а piаnofoг his son. However, hе isn,t real|y hаppу аbout buyingthe piаno outr ight, in сase his son deсides he doesn't | ikepIaylng i t aftеr а l l .
2. You rесeivе an еnquiry f rom a nеW сUstomеr. A businessаssoсiatе of youгs mentions thаt hе hаs hеаrd thаt thisсUstomer is in f inanсiа| dif f iсu|t ies.
З. Тhe сUstomеr has been doing busrness with your f i rm fora |ong t imе аnd has аIwаys paid promptIy. However, hеon|y p|aсes one oгder еvеry few months.
4. You own a mаi|-order сompаny. ' You most|y do businеsswith or ivаte сustomers who order l i t t lе аnd often.
5. A pr ivаte сustomеr wаnts to buy аn up.to-dаte modеl of(oпlDl l tеr so that he саn start his own business.
lV. Money matters and PaYment
Banks and bankingСhеquеsBi| ls of еxсhangеQuеstions for rеvision
5555
Banks and banking
When it сomes to dealing with money, the banks providea variety of serviсes essential to trade and to the eсo-nomy of a сountry. There are two main types of bank:
1. Central banks
Tlrese are the institutions whiсh сontrol the bankingof the entire сountry; they work together with thegovernment to сontrol the сountry's eсonomy. Theсentral bank of the United Kingdom is the Bank ofЕngland, in the UsA it is the Fеderal Reserve Sys-tem, in single.сurrеnсy Еurope the Еuropean Cent-ral Bank, etс.
The сentral bank has a number of diffеrent funсtions:a) To issue banknotes and сoins, thе сountry's сur-
renсy. These notes and сoins are legal tender inthe сountry where they are produсed; this meansthat traders in that сountry may not refuse themwhen they are offered as payment.
b) To look after the сountrу's gold reserves.с) To make sure that the сountrу's сurrenсy keeps
its value.d) To aсt as bankers for the government and the
other banks.r) To keep inflation under сontrol. Inflation hap-
pens when there is a lot more money (in the formof banknotes and сredit) available than there aregoods for sale (in other words, when demand forthe goods exсeeds supply). When this happens,priсes inсrease sharply and often. Tо stop it, the
4A
сentral bank needs to take monеУ out of сiгrula.tion, for example by inсreasing interest rates (thismakes borrowing more expensive and means thatfewer peoplе will applу for сredit), and bу in-сreasing the amount of money whiсh all bankshave to deposit with the сentral bank.
сеntral bank цeнтpaЛь}lьIй (нaциoнaльньIй)бaнк
сurrenсУ вaЛIoтalegal tender зaкoннoe llЛaтeэrснoе сpедсTBoinflation инфляцияsupply and dеmand пpeдлоэкеIlиe и сIIpoссirсulation oбparцениеintеrest rate ПpoцeнтIlaя сTaBкa
2. Commerсial banks
Thesе are the publiс or private banks whiсh people usеfor their everуday moneУ matters. If уou have a bankaесount for example, it will be at a сommerсial bank.
There are thrеe basiс tуpes of bank aссount:. Current aссount. This type of aссount is used
for everyday tгansaсtions suсh as paying bills, trans-ferring money and drawing сheques. You сan havean overdraft on this typе of aссourrt (that means Уouсan withdraw more money than you have in the aс-сount, although уou will have to pay interest forthis serviсe), but you don't usually reсeive intereston the moneУ you pay in.
. Deposit aссount. This type of aссount may beused for short-term, small savings; the money paidin earns a small amount of interest. It is not possibleto draw сheques or have an overdraft on this tуpe of
Сommerсiаl Еngl ish |V. Money matters аnd pаyment
aссount, but it is possible to transfer money to itfrom a сurrent aесount.
.Investment aссount. Мoney paid into this typeof aссount earns more interest, but thе сustomer hasto inform the bank in advanсe when he wants to witlr-draw his money. If it is a fiхed.term aссount, hemay not be able to withdraw the money for a сertainperiod agreed with the bank (for example, five years).This tуpe of aссount maу be used for larger, long-term savings.
сommerсial bankbank aссountсurrent aссounttransaсtionto transfer rnoneyt<l draw a сhеqueovеrdraftto withdraw moneydeposit aссountsavingsinvestmеnt aссountfixed-tеrm aссount
кoeI&Iepчeскии oaнкбaнкoвский счеттeкyщий сuет(бaнкoвскaя) oпepaцияпepeBoдитЬ дeIIЬгиBьIIIисЬIвaTь чеI{
IIеpеpaсxoд
сIIиМaTь дeнЬги
Дeпo3иTIIЬIй счeт
сбеpеrкeнияиIIвeсTициoнньIй счeт
сpouньrй сueт
Ехerсisе 1. What kind of bаnk aссount do vou think eaсh
1.
of thesе peoplе might havе openеd?
A twelvе-year.o|d сhi ld inherits J, l0,000, whiсh he won,t bеablе to touсh unt i l hе,s ]8 'An elderly Woman keeps $200 in her handbag ,,for emeг.genсiеs' , . Shе is persuаded to pay it into а bank aссount forsafеtv.
3. An 18.year-old begins work аnd neеds аn ассount so thаthis wages саn be pаid аt the end of the month.
4' A сoup|e with young сhi ldren wins a Iarge amount of monеyin thе |ottery.
5. A student nеeds a bank ассount for hег grаnt.6. A tеenager Wants to sаvе money to buy а motor-bike'
Another funсtion of the сommerсial banks is to pro-vide сredit, in thе form of:
. overdrafts. where the сustomer сan take outmore money than he has in his aссount up to a сer-tain limit agreed with the bank. He has to pay themoneУ baсk whenever requested by the bank, and healso has to pay a relatively high rate of interest when-ever he is overdrawn. For this reason. an overdraftis not the best option for long-term borrowing.
. A loan is сheaper if a large amount of moneyhas to be borrowed over a longer period. It is usuallуtaketr out for one item suсh as a сar or a house. andis repaid in monthlу instalments along with a fixedrate of intеrеst. A loan used to buy a house or land isсallеd a mortgagе.
. Cгеdit сards suсh as Visa or Ameriсan Еxpressare used to buy goods without needing to pay forthem immеdiately. The сustomer reсeives a monthlystatemеnt and сan either pay the entire amount infull (in whiсh сase no interest has to be paid) or inmonthlу instalments (plus a fixed rate of interest).
сredit I(pедиTloan ссyдamortgage Зaкдaд; ипoTeкaсrеdit сard кpeдиTIIaя кapToчкa
Еxеrсisе 2. What kind of сredit did еасh of thеse bankсUstomers ask for?
1. Mr. and Mrs. Gаrr ington soId thеir old housе and boughta new one. Howevеr, аs the nеw housе was muсh largеr аndmoГe еXpensive, thеy nееdеd сгedit to pаy the diffеrenсе.
Сommerсia| ЕngIish lV. Money mаtters аnd pаyment
2. .Jenny is a student whosе inсomе on|y just meets her ex-penses. ln the winter months her heat ing аnd еIeсtr iс i tybi||s are higher, аnd without сredit shе wouldn,t аlwаys bеаb|е to pаy them.
З' Adam Wants to buy а сar, but on|y has enough savings tobuy an old one. He wouid rather makе usе of his bаnk,sсredit fасi| i t ies to buy а nеWеr model whiсh hopefuIIywou|dn,t nееd repair ing so oftеn.
4. Mrs. Brown hаs her own сompany. She travels а |ot onbusiness and I ikes to makе usе of her bаnk,s сredit fасi| i t lеsto sprеad her eхpеnses oVег a Ionger period.
5. Mг. Pr iсe hаs to pаy thе rеnt for his аpаrtment on thе f irstdаy of every month' Howеvеr, he on|y reсeives his sа|aryon thе third dаy of thе month. Without his bank,s сrеditfaсi l i t ies, he wouldn,t a|ways bе аb|e to pay thе rеnt '
other сommerсial bank serviсes inсlude:. Standing oгdeг faсilities, whеre the same amount
of money is transferrеd from one aссount to anotherat regular intervals. For eхamplе, somebody mightset up a standing order to pay the rent autоmatiсallyeverУ month.
. Direсt debit faсilities, where a varуing amountof moneу is transferred from one aссount to anotherat regular intervals. For eхample, somebody mightset up direсt debit faсilities to pay his telephone billautomatiсallу every month.
. Advising their сustomers on making investments,for example in gold, propertу or shares.
. Safe faсilities for their сustomers to loсk up va-luable artiсles suсh as jewellery or important doсuments.
. Providing foreign сurrenсy and travel ler 'sсheques.
. Paying out сash (for example from сash dispens-ers) and aссepting сash deposits.
. Providing сheques and сarrying out сheque trans-aсtions.
s2 Сommerсiаl Еngl ish
standingorder пoстoяI{tIЬIйзaкaзdireсt debit пpяlvloe дeбeтoвaниeinvеstmеnt инBeстиция; BЛo}кeIIиe деI{eгproperty иMyщестBo; сoбстBенrтoстьsharеs aкцииsafе сейфсash dispenser бaнкoмaтdеposit плaTeE(: B3I{oс
Cheques
A сheque is a сustorner's written order to his bank topay a сertain amount to a сertain person or organisa.tion whеn requested. As we already knorv, a сhequeсan only be drawn on a сurrent aссount; further-more' сheques aren't legal tender - that means sel-lers are not obliged to aссept сheques as payment.They are generally only used for domestiс trade.
Parties to a сheque
lV Moneу mаtters аnd payment
drawer тpaссaнт; лицo' пoдписaBIIIee Чeкdrawee TpaссaT; лицo' нa кoтopoe BЬIсTaBJIен
чeк иЛи тpaTтapaуee l]oЛyчaTeЛь IIo Чeкyto debit дeбeтoвaтьdrawn оn вьIIIисaн нa
Cheques are supplied by the drawee (the bank) andfilled in by the drawer. Here is an example of a сhequedrawn on a British bank:
(a) (b) (с) (d) (e)IV
rЗ NatWestфrnо вlr fr incnaп в!7 9f l
.1- l to l . . l1 , . ' J-tг. ^.
у.\ .т^ o. nfd' l --
li5?.so l ; Ь*!.sи}.a..."ас_dлр]sq
\\
".'.,,Х ' \\ н. lфrn. ' в lrhr
\ t6о нtoh st lфт
^,н"'.r:nр \^,
i . . : :1 _ #Ё._*- _| i l н*'""f f-sL r i r , ' "
oofвэв lAO0 lA2Aр s l" .?0]?|: o, ' .* 'o*' .o.
t l t t
\/ -r.sl-ro-t
.^,.я!f,Ь'''л,{1aфt"
fa?-so*" " , ,a^.r*t^
Гa.Lc{,o. \
1\t\
(s) (r)(i) (i) (d) (h)
I am thеDRAWЕR.I write theсheque and giveit to the paУee.The money isdebitеd from mусurrеnt aссount.
The drawer'sbank is theDRAWEE.Inthis сasе, thесheque is drawnon the NatWestbank.
I am thе PAYЕЕ.I get the money,еither in сashfrom mу bank orpaiddireсtly intomy bank aссount.
(a) The paуee's name(b) The amount whiсh the payee is to reсeive, written
in words(с) The drawеe's namе(d) The bank сode(e) The date on rvhiсh the сheque was drawn(f) тhe amount whiсh the payee is to reсeive, written
in numbers(g) The drawer's signature(h) тhe drawer's bank aссount number(i) The сheque number
54 Сommerсiаl Еnq|ish |V. Money mаttеrs and рayment
(j) The сheque stub (also сalled the сounterfoil).When the drawer has written the сheque, he tearsout the main part and gives it to the paуee.He keeps the сheque stub as a reсord of the сhequeshe has written.
(b) This is a full endorsеment:
55
bank сode бaнкoвский кoдsignature пo.цписЬсheque stub, сounterfoil кopeшIolс
Types of сheque
1. The сheque shown above is an order сheque. on itis written: ..Pay Мr. x. Y. Zapp oR ORDER.''
This means that this сheque is only paуable toMr. X. Y. Zapp. To get the money, he has to provethat he is Х. Y. Zapp and sign the baсk of the сhequein front of the сashier at his bank.
However, if x.Y. Zapp owes someone еlse money, hemight deсide to negotiate the сheque, that means topass it on to another person as paУment. To do this,he has to make either a blank. full or restriсtivеendorsement.
(a) This is a blank endorsement:
.Y. у. Za/ф
The person negotiating the сheque just signs his nameon the baсk of the сheque. However, this is quiterisky - anyone holding a blank endorsed order сhequeсan get the money.
?aц l|/illtan Snttь or ordеr
'r. у. Zаlф
The person nеgotiating the сheque writes the name
of the new payee and the words "or order", then signs
it. This means that only the new payee' in this сaseWilliam Smith, сan get the moneу. However, thewords ..or order'' mean that William Smith сan nego-
tiate the сheque again himself if he wants to.
(с) This is a restriсtive endorsement:
?a| уt/iujab' Snltl,aм /(07 to otdсr
-r. g. Zа/ф
The person negotiating the сheque writes the name
of the new paУee and the words ,.and rrot to order'',then signs it. This means that only the new payee(in this сase William Smith) сan get the moneУ.The words .,and not to ordeг'' mean that the new payee
сannot negotiate the сheque a seсond time.
order сhequе opдepньrй ueкpayable to пo.цЛе}I(aщий oпдaтe;
пpичиTaIoщиися
to negotiate зdeсь.. пepeдaть;пepеусTyпитЬ
blank еndorsement 6laнкoвьrй ин.цoссaMeIIт
full еndorsemеnt пoлньrй иII,цoссaNIeнт
restriсtive endorsement oгpaниuенньlйи11.цoссaNIеIIт
56 Сommerсiа| Еnql ish lV. Money matters and payment
2. A сheque with the words ..PaУ ... or bearer'' isсalled - not surprisingly - a bearer сheque. Any.body holding (bearing) a bearer сheque сan get themoney; it doesn't have to be endorsed.
3. The сheque shown above is a сrossed сheque -сrossed beсause it has 2 lines drawn aсross the mid-dle of it. This means that it сannot be сashed. it сanonly be paid into the payee's bank aссount. The pro-сedure is as follows:
ffi/r4/
57
4. The payее's aссount isсreditеd and the drawer'saссount is debited.
The problem with сrossed сheques is that the payeeonly gets his money if the сheque is сovered - thatmeans' if the drawer has enough money in his aс-сount. For this reason' the payee might ask fora marked сheque; this is a сheque marked with a gua-rantee that the payee will reсeive his mоney.
4. If these two lines are not present, the сheque is anоpen сheque. An open сheque doesn't have to be paidinto a bank aссount; the payee сan present it to thebank and reсeive сash in return.
Dishonoured сheques
In еertain сirсumstanсes, the bank сan rеfuse to ho-nour a сheque (they сan refuse to pay out the amountвtated on it). This сan happen in the following situa-tions:
. If the drawer doesn't have enough money in hisbank aссount to сover the сheque.
. If the drawer has stopped the сheque (that meansif he has instruсted his bank not to honour it). Heсan do this if he suspeсts the сheque maУ have beenlost or stolen, but has to paу a fee for this serviсe.
. If it ls suspeсted that the сheque has been forged.
. If an essential part of the сheque is missing,вuсh as the drawer's signature or the date.
r .ar
Giry)\- .-J
1r
G1l\,\\,- -{F\-'l"'
1. Thе drawеr (right) drawsthe сhеque and givеs it tothе payee(left).
2. The рayee fills out a pay.ing-in slip and givеs it andthе сheque to his bank.
3. Thе payee's bank pre-sеnts the сheque to thedrawer's bank.
IG\\2
l\/
I
58 Сommеrсiаl Еnql ish lV. MoneУ mаttеrs аnd pаymеnt
. If the сheque is stale (out of date). The payeehas to present the сheque to his bank within a сer-tain period of time from the date it was drawn(6 months in the Uк). If he doesn't do this, the сhequеautomatiсally beсomes invalid.
ТI{Е A'{€ LGIIIDI.AN BAЛl(BA.l|cAш}RЕ sтRЕЕт' вolr{BAY 16з51 ?
2 ]tЬ }4.ч 5 ooО
(с)
(d)kЧ.J",l 'аооp
,А L,o'' B"з^
Bills of еxсhangе
A bill of eхсhange is an unсonditional order from
one person to another to pay a сertain amount at
a сertain time. The money сan be paid either to theperson who gave the unсonditional order or to a thirdparty. Bills of exсhange сan be usеd for either do-
mestiс or foreign trade.
The parties to a bill of exсhange
A payment transaсtion made by bill of exсhange ge.
nerally proсeeds as follorvs:
59
(b)
bеarer сhequeсrossed сhequepaying-in slip
сoveredmarked сhequeopen сhequеto honour a сheque
forgedinvalid
чек нa пpeдъяBитeля<IlеpeчepкнyтьIй) Чeкблaнк, зaIIoлIIяeп{ьIй пpивIIeсеIlии сyМп4ьI нa счет
пoкpьrтьrй; oбeспeчeнньrйчeIс с гapaнтиeй oплaтьroткpьrтьrй ueкoIIЛaTить чеI{; IIpиIlятЬ чeltIс oIlдaтe
цoддeльIrЬIй; фaльrшивьiйнe.цействитeльньrй
Еxerсisе 3. Look at еaсh of the сheques bе|ow and аn-swer thе quest ions for еaсh one.
1. Who is thе drawеr?2. Who is the drаwее?З. Who is thе payее?4. ls i t a bеаrеr or аn ordеr сheque? |f thе pаyee Wants to
nеgotiаte i t . does hе havе to еndorsе i t or doеs hе justhаve to hаnd it ovеr to the new pаyее?
5. |s the сhequе open or сrossed? Сan it be сashed or does i thаve to bе paid lnto а bank aссount?
(a)3ogвl Baпh .( ' thz.tвцсkioяlrrпPrlдс.wAу ]-1....тщaОО1
б0 Сommегсiа| Еngtish
1. The drawer makes out the bill of eхсhange andsends it to the drawee (the person who has to pay it).He may send two сopies (the first and seсond of ex-сhange) in сase one gets lost.
2. The drawee has to aссept one of the bills by sign-ing the front of it. If two сopies are sent, the сopywhiсh the drawee doesn't sign automatiсallу beсomesinvalid. A bill of exсhange whiсh hasn't yet beenaссepted is сalled a draft; an aссeptеd bill of eхсhangeis сalled an aссeptanсe.
3. Thе drawee then sеnds the aссepted bill of ex-сhange to the paУee' who may be the d'rawer ora third party. At maturity (tire date on whiсh thebill of exсhange has to be paid), the paуee presentsthe bill for payment and gets his money. The payeeсan also negotiate thе bill of exсhange, but has toendorse it first (blank, full or restriсtive endorse-ment).
|V. Money matters аnd paуment
bil l of exсhange бaнкoвский BeксеЛЬ;тpaТTa
first/seсond of exсhange пepвьrй/втopoйaк3eп4пляp вeксeJIя
to aссеpt пpинять (к oплaтe)draft IIЛaTeEсIIoe пOpУчeIIиeaссeptanсе aкцеIIтmatuгitу дaтa' сpoк BЬIIIЛaтьI
Types of bill of eхсhange
Eaсh bill of exсhаnge belongs to a сertain сategory, de-pending on thе time at whiсh it matures (has to be paid).
1. A sight bill inсludes tlre words ..Pay at sight''.The drawee has tо pay as soon as the draft is pre-вented (as soon as he sees it).
2. Time bills arе payable at a fixed or determinablеfuture time. There are two types of time bill:(a) A term bill is paуable a сertain number of days
after it is presented to the drawee, e.8. ..Paу at90 days afteг sight''
(b) A date bill is payable a сertain number of daysafter it was drawn, e.g. "Pay at 60 days".
sight bill BeксeЛЬ к oIIлaте пo IIpедъяBлeIIиюtime bill BeксeЛь сo сpoкolu oIIЛaтЬIterm bill BeксeЛь с oплaтoй в Tечeниr
yкa3aIIIIoгo сpoкadate bill Bексeль с Укaзallнoй дaтoй oIIЛaтЬI
Exеrсise 4. Look at the bil ls of еxсhаngе be|ow and аn-swer thе questions for eaсh onе.
1. Who is thе drawer?2. Who is the drawee?
61
}r*wоr
Paуee
,..ffe"{
3'd part'у
l draw rhе billоf ехсhangtl. J, paу thе bill
оf eхс:hаrrgе.
Сommerсial Еnql ish
З. Who is the payee?4' What kind of bi|| of exсhаnqe is l t? Whеn wi|| i t have to be
oaid?
(a)Drаwn undеr сrеdit numbеr jFDUТ89,I67 ofUN|VЕRSAL BANK, NЕWARK NJ dаted 29th. ]une 2000Dаte 25th. July 2000 For USD 20,000At 60 days аftеr sight Pаy this first of еxсhаngeto thе order of oURSЕLVЕSthе sum of twеnty thousаnd U5 do|lаrsfor value rесeived.Тo UnivеrsаI Bank For and on beha|f of
Nеwark, NJ ABС СorporаtionWashington, DС
Dated London, 2бth' Jan. 2002 For ЕUR 2,500.00At sight pay this so|е of exсhаngеto the order of oursеlvеsЕuro two thousаnd fivе hundrеd onlyvаIue reсеivеd, ordег no. ]62ЗTo Vеrrеtех GmbH Hоlborn GIassworкs
Hаuptstr. 19 21 Upminstеr Roаd70120 Stuttgаrt London ЕС4 8DFGеrmаny Еng|аnd
(b)
Еxсhange for A$ 8,600.00 Sydney.2"d. Junе 2000At 90 days pаy this first of exсhange(sесond of samе datе аnd tеnor unpaid)to the order ofAlbert johnson & Сo.,271 |\4еlbournе Road, SydnеyЕight thousand six hundrеd Austra|jаn do|lаrsVаIue reсeivedTo Miсhаеl Jonеs
121 Glаmoгgan RoadAdelаidе
Gеoгgе Johnson271 Mе|bournе RoаdSydnеу
lV. Moneу mаtters and pаyment 63
Disсounting a bill of exсhange
If the paУee needs his money before the bili of
exсhange reaсhes maturity, he сan have it dis-
сounted. This means he сan take it to a bank whiсh
will paу him its value minus interest and bank feеs
(the disсount). The amount deduсted depends on
the length of time before the bill reaсhes maturity
and on how high the risk is that the draweе won't
pay.
In turn, the bank maу be able to have the bill of
exсhange redisсounted at the сentral bank. Howev-
er, the сentral bank only redisсounts a limited number
of bills, depending on how high the inflation rate is
(if inflatiоrr is high, fewer bills will be redisсounted
in order to prevеnt more money going into сirсula-
tion).
Protesting a bill of exсhange
A protest is a formal written notiсe that a bill of
exсhange has been dishonoured, and is needed be-
fore the paУee сan go to сourt to reсover the money.
If the drawee doesn't pay the bill of exсhange when
it is presented to him at maturity, it will be present-
ed to him again within two working days, this time
by a notarу publiс. If the draweе still doesn't paУ,
the notarу stamps and signs the bill as a reсord of
the dishonour. Suсh as dishonour is a serious mat-
ter; it maу be published in trade journals and at the
Chamber of Cоmmerсe, in whiсh сase the drawee will
lose his good reputation.
64 Сommerсiаl Engl ish
Questions foг revision
1. What role does the сentral bank plaу in the eсo-nomy of a сountry?
2. Whiсh funсtions of the сommеrсial banks do youthink are the most important for private сustomеrs?And for businеss сustomers?
3. Using Уour own words, explain the differenсe bet-ween an ovеrdraft and a loan.
4. Using уour own words, eхplain the differenсe bet-ween standing order and direсt debit faсilities.
5. Whiсh kirrd of сheque is the safеst, and why?Whiсh kind of сheque is the least safe?
6. In whiсh situation is a сheque or a bill of exсhangeendorsed? Compare the three types of endorsement.
7. What do you understand by "dishonouringa сheque''? In whiсh situations may a сheque be dis-honoured?
8. Who are the partiеs to a сhеque? And to a bill ofexсhange?
9. What is a draft, and what happens to it?
to disсount a bill IIpиI{ятЬ BeксeЛь с дискoнтorvtto rеdisсount пepeyчeсTЬ BeI(сельprotеst oпpoтесToвalrиe; пpoтeстto dishonour oTкataть в oIIJIaтenotarу publiс нoтapиyс (гoсyдapствeнньtй)reputation рeпyтaция
lV. Monеy mаtters and рaymеnt 65
10. Using your own words, desсribe the different
types of bill of exсhange.
11. What are the advantages and disadvantages of
disсounting a bill of exсhange for the paуee?
12. How safe do you think making payments by bill
of exсhange is when сompared to paying by сheque?
V. Тerms of payment for foreigntrade
Саsh agаinst doсumеnts (СAD)Doсuments against ассеptanсе (D/A)Lеttеr of сrеditQuеstions for rеvision
55Е
5
Whеn doing business with сompanies abroad, it isnot always possible to use the terms of payment сus.tonrary in domestiе trade. This is beсause the sellerneeds to havе more сontrol оver payment.
If сompanу A in England sells goods tо сompanу B inthe same сountry, it is relatively easy to reсover thedebt if сompany B doesn't pay. Company A just sendsthree reminders to сompanу B, and if this doesn'twork, they сan start legal proсеedings.
Howevеr, if сompanу A exports goods to сompany Cin China (for example) and сompany C doesn't pay,this waу of reсovering the debt isn't praсtiсal.Therefоre' сompanУ A has to make surе that theChinese сompany only gets the goods if they pay inChina. In order to do this, both сompanies work inсlose сollaboration with their banks and сarriеrs.The three terms of paуment сommonly used inforeign trade are:
. Cash against doсuments (CAD)
. Doсuments against aссeptance (D/A)
. Letter of сredit (L/C)
Cash against doсuments (CAD)
This term of payment is also known as doсumentsagainst payment (D/P). The buуer needs the trans.port doсuments before he сan take possession of thegoods he has purсhased, but is only given them afterpaying a sight bill drawn by the seller.
transaсtion is effeсted as follows:
V. Теrms of pаVmеnt for forеign trаde
б. The buyеr paуs thе sightbill and rесеives thе trans-port doсuments in rеturn.He сan thеn takе the trans-port doсumеnts to сolleсthis goods from thе сarrierin his сountry.
6. The сollесting bank sendsthe payment to the re-mitting bank.The amount is сredited tothe seller.
сoLLЁсТ|N6
tThis means that if the buyer doesn't pay, he doesn'tgеt the goods. This minimises the risk for the seller,
beсause if thе buуer doesn't paу, the seller сan ask
thе сolleсting bank to find another buуer. In theory
this minimisеs the loss for the seller, but may be
a problem if he is exporting perishablе $oods, for
example.
CAD holds a сertain risk for the buyer, beсausе he
doesn't have the сhanсe to examine the goods beforehe has paid for thеm. However, this risk сan be mini-
mised by asking the seller to arrange examination of
69Сommеrсiа| ЕngIish
A CAD payment
I
%
I
.r. I
1. The sel ler sends thеgoods to the сarrier (shipowner' airlinе еtс.).
2. Thе сarr ier gives thеnесеssary transpоrt doсu-mеnts to the sеl lеr andtrarrsports the goods to thеbuyer's соuntry.
3. Thе seller сollесts anyothеr transport doсumentswhiсh maу be nесessary andgives them to his bank (therеmitting bank) togetherwith a SIGHT DRAFT.
4. The remitt ing banksends the transport doсu-ments and the draft to thebuyer's bank (the сolleсt.ing bank). The buyer isnotifiеd when thev arrivе.
6ЕЕ'1\дNY дPдN
1пП
LLЕстlNG
GЕRлlANy
/t|тТlBаNl{
ANK
Сommerсia| Еngl ish
the goods bу an inspeсtion сompany before theу aredispatсhed. The inspeсtion сompany will then sealthе goods and issue an inspeсtion сertifiсate, whiсhhas to be sent to the сolleсting bank with the trans-port doсuments and the sight draft.
сash againstdoсuments (сAD)doсurnents againstpaymеnt (D/P)transport doсuments
remitting bankсolleсting bank
рerishable goodsto dispatсhto sealto issue
oпЛaтa пo пoЛyчeнии
'цoкУМеIIToBдoкyNIeIIтЬI IIoсЛe ollлaтьl
TpaнспopTIIaя дolсуl\{eн-тaция'f нaклaднaя
бaнк-плaтeЛЬщик
бaнк.пoлувaтeJIЬ
сItopoпopTящийся ToBap
oTIIpaBЛяTь; oTгpy}Iсaтъ
oпeчaтЬIBaтЬ
BЬIдaBaтЬ
Doсuments against aссеptanсe (D/A)
This term of payment is vеry similar to CAD. Ho-wever, instead of sending a sight draft to his bank,the seller sends a time draft. In order to get thetransport doсuments, the buyer only has to aссeptthe draft. At maturity, he goes baсk to his bank andpays for the goods.
A D/A transaсtion is therefore effесted as follows:
1. The sel lеr sends thegoods to the сarrier.
V. Тerms of pаymеnt for forеign trаdе 71
2. Thе сarr ier givеs thеneсеssarУ shipping doсu-mеnts to the sеl lеr аndtransports the goods to thеbuyer's сountrу.
3. The sеl lеr сol leсtsthе other shipping doсu-mеnts and gives them tohis bank (the rеmitt-ing bank) together witha TIME DRAFT.
I4. Thе rеmitt ing banksеnds the doсuments anddraft to the сolleсting bank(the buyеr 's bank). Thebuуer is notified to whеnthey arrive.
5. The buyer goes to hisbank and aссepts the timedraft. In return, he is gi-
ven thе transpоrt doсu-ments and сan сollесt hisgoods.
^Ъ
ж)fi'\3S
-\
FРдNсЕ
tLь RЁЛllТТlNBAIlI/
сoLLЕст|
72 Сommerсia| Еnq|ish
6. At maturity, the buyergoes baсk to his bank andpays thе bill of eхсhange.The moneу is sent from thесollесting bank the remit.ting bank and сrеdited tothe sellеr's aссount.
Obviously this is more favourable for the buyer thanCAD, as he сan take possession of the goods beforepaying. However, D/А carries a сonsiderable risk forthe seller: if the buyer fails to honour the bill of ex-сhange, the seller probablу won't be able to reсover thеgoods (two or three months may elapse between thetime the draft is aссepted and the time it matures, inwhiсh time the buуer may for example have sold thegoods on). Moreover, taking legal aсtion to reсover themoney is far more diffiсult on an international basis.
Letter of сredit
A letter of сredit is a promise made by the buyer'sbank (the opening or issuing bank) to send a сertainsum of money to the seller's bank (the advising bank),to be сredited to the seller, known as the benefi-сiary, provided he fulfils his part of the sales сon-traсt. It is also known as a doсumentary сredit.
сoLLЕстtt{
doсumentsagainst дoкyМeIIтЬIпoIIpи}IяTиIo;aссеptanсе (D/A) Ilеpeдaчa IIpaBa сoбствeн-
нoсти пoсЛe IIoЛvчениячeкa к oпЛaTe
letter of сredit (L/О) aккpeдиTиB
V. Terms of payment for f oreign trаde 7з
opening/issuing bank бaпк-эмитент
advising bank бaнк, пpoизвoдящийBЬIIIЛaтУ пo aккpe'циTиBy
bеnefiсiary бенeфициap' IloЛyчaтеЛьпo aккpeдитI.rBy
doсumеntary сrеdit дoкУмelrтapньIйaкIсpедитиB
Types of letter of сredit
1. A revoсable letter of сrеdit сan be сanсelled or
сhanged without the sel ler's agreement. As this
doesn't offer the seller muсh сontrol over paУment'
this type of letter of сredit is rarely used.
2. ,\nirrevосable letter of сredit сan be сanсelled or
сhanged, but only with the agreement of all parties.
All letters of сredit are irrevoсable unless expresslуstated otherwise.
3. A сonfiгmed letter of сredit is always irrevосable.If the seller feels that the risk of not reсeiving pay.
ment is still too high, for examplе beсause the buy-er's сountrу's eсonomу is unstablе, hе сan arrangefor a bank in his own сountrу to сonfirm the letterof сredit (this bank is then known as the сonfirmingbank; it сan be the same bank as the advising bank).This means that the seller will reсeive his moneyfrom the сonfirming bank, regardless of whether оr
not his invoiсе is paid in the buyer's сountry.
revoсable oтзьrвнoйirrеvoсablе безoтзьrвньrйсonfirmed пoдтBep}I{дeнньrй (aккpедитив)
unstable нeустoйuивьrй, нeстaбильньrй
сonfirming bank бaнк, пoдтBep}I(дaroщийaIскpедиTI{B
74 Сommerсia| Еnq|ish
Payment by letter of сredit is effeсted' as follows:
1. Buyer and sеller agreeon all terms and сonditionsof the sa]еs сontraсt.
2. The buyer fil ls out anappliсation form to opena lеttеr of сredit at hisbank.
, l t t ,
3. The opening (buyеr 's)bank оpens thе letter ofсredit and sends it to theadvising (sеller's) bank. Ifappropr iate, thе openingbank also asks the сonfirm.ing bank to сonfirm theL/C.
4. The advising bank tells(advises) the sеller that theletter of сrеdit has beenopened.I
I
V' Terms of paуmеnt for foreign trade
5. The sеller сhесks that allthe terms and сonditions arесorreсtly listеd in the L/C.
6. The sellеr сolleсts all theneсеssarУ transport doсu-ments.
7. Thе sellеr givеs the trans-port doсumеnts and a sightor time draft to his bank. Heсan get his rnoneУ now ifthe L/C is сonfirmed.
8. The advising bank сheсksthat all thе doсuments arесorreсt and sends them tothe opening bank.
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76 Сommеrсiа| Еngl ish
9. The opеning bank сheсksthе doсuments again andsends the paymеnt to thеadvising bank.
10. The buyer pays (sightdraft) or aссepts thе draft(t iпle draft) and gets theshipping doсutnеnts in rе-turn. With tlrеsе, he сanсolleсt the goods from thесarrier in his сountrv.
Exeгсisе . l . Look аt thе letter of сrеdit bеlow аnd аnswеrthe ouеst ions^
'1. Who is the buyer?2. Who ls the sе||er?3' Whiсh is thе opening bank?4' Whiсh is the advis ing bаnk?5. What kind of lеttеr of сredit is i t?6. Whаt kind of draft wi lI bе аttасhеd to the trаnspoгt doсu.
mеnts?
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V. Тerms of pаymеnt for forеiqn tradе 77
tIl
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Ip
ROYAL BANKLondon. Еng|and
LEттЕR oЕ сREDIт
AppIiсаntShah lmport Сo'176 Stеpnеy RoadLondon SЕ2з 7HL U K
BenefiсiaryRаjah Tеa Сompany65 Gandhi RoаdBombаy 297645. Indiа
Advising bankAnglo- lndian BankGovernor's Bldgs.Bombаy 27З645. lndtа
Refеrenсe no.HtD59765
Dаtе and plасeof issue20 June 1999. London
Datе аnd plасeof expiry21 Ju|у 1999, Bombаy
Тranshipmеnt[ ]AI lowed [x] NotallowedPartiа| shipment[ ]AIlowеd [х] NotаlIowed
Amountкs. /5.UUU (5еvеntv-TlVе тnousаn0 rupееsl
Сredit avаilablе withAng|o-lndiаn Bank, Bombay by nеgotiаtionаgаinst thе doсuments nаmеd hеrеin and bеnе-fiсiаry,s draft at 60 days sight drаwn on Royа|Bаnk, London. UK
Shipment/dispatсhf romBombаv
tor trаnsportаtion toLondоn
Not |аter thаn6 July 1999
Doсuments to bе presentеd]. Сommеrсiаl invoiсе in 6 сopiеs indiсаting L/С numbеr2' Ful| set of сIеan brlls of |аding mаdе out to ordеr of issuing bank ofL/С markеd prеpaid and notifying appliсаnt also indiсating thts L/СnumbеrЗ. Сеrtif iсatе of origin4' Paсking list
These doсuments to be presеnted within ..'.' days of the issue ofthе trаnsport doсuments but within the va|idity of the сrеdit.
|nstruсtions for аdvising bаnk
P|eаse advise benefiсiаries of the opening of this сredit. addingyour сonfirmаtion'Method of reimbursementAt mаturity wе wilI rеimbursе you aссordlng to уoUr tnstruсttonsDoсuments shouId be forwаrded to us by air mаi|.
Janеs "4пdеtsoпfor ROYAL BANK
Сommerсiа| ЕngIish
Questions for revision
1. Еxplain the diffеrenсes and similarities bеtweenCAD and D/A.
2. What are the advantages and disadvantages ofCAD for the buyer?
3. What are the advantages and disadvantages ofD/А' for the sellеr?
4. Using Уour own words, desсribe the proсess ofpaying by letter of сredit.
5. Whiсh of the various terms of payment for fo-reign trade do you think is the safest for all parties,and why?
Vl. Terms of delivery (lnсoterms)
5 EXW (ex works)5 |nсotеrms for shipping5 |nсotеrms for mu|t imodal transport
5 lnсotеrms сovеring payment of duty
5 Questions for revision
When goods are sent from a seller to a buyer, eaсhparty has to know exaсtly whiсh of the сosts andrisks of transportation he has to bear. In order toavoid disagreements, the sales сontraсt usually stipu-lates one of the thirtеen terms of deliverу drawn upby the Chamber of Commerсe. These are known asinсoterms (Intеrnational Commerсial Terms). Theydetermine whiсh party is to bear the various сostsinvolved in transportation and the point аt whiсhthe risks are to pass from the seller to the buyer(known as thе passing of risk).
Еxw (eх works)
This inсoterm reрrеsеnts the maximum obligationfor the buyer: the seller has the gсlods ready for сol.leсtion at his faсtory, and the buyer has to сover allсosts and bear all risks until they reaсh his ware-house. It сan be used for all forms of transport.
passing of risk пepeхoд' IIеpедaчa pискaex works фpaнкo-зaвoдfaсtory зaвoд; фaбpикawarehouse склaд
Inсoterms for shipрing
When goods arе to be sent by ship, the followingсosts have to be paid:
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VI. тerms of del ivеry (|nсoterms)
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t. Ткапspоктэтtопсo5т5
1. The сost of transporting the goods from the sell-er's faсtorУ or warehouse to thе рort of shipment,from rvhiсh theу are to be shipped abroad.
2. The сost of loading the goods onto the ship at theport of shipment.
3. Freight сosts - the сharge made for сarrying thegoods on the ship.
4. The insuranсe сosts inсurred while the goods arebeing transported.
5. The сost of unloading the goods when the shipreaсhes the poгt of destination in the importingсountrУ.
6. The сost of transporting the goods from the portof destination to the buуer's warehouse.
tt. Lоярlнс
ft
соsт5
t-//-**Т:Т:Т...l BUyЕR,slwяRЁнCIUgA
2' . . . .-:---. .- . . . . . ." "*
6. Тпанgpовтатtон
'5. U$rояpttts
РоRтоFsl{lР.1ЕNт
82 Сommerсial ЕnqIish
port of shipment пopт oтпpaвкиto load oTгpyяdaTьfreight фpaхт; гpузinsuranсe стpaxoBкa; сTpaxoBallиeto unload paзгpy}кaтЬport of destination пopт ЕaзIIaчeIIиЯ
FAS (Free Alongside Ship)
The seller pays for transportation of the goods to theport of shipment.
The buyer pays for everуthing else (loading, freight,insuranсe, unloading and transportation from the port
of dest inat ion to hiswarehouse).
The passing of risk oс.сurs when the goods havebeen del ivered to thequay at the pоrt of ship-ment.
FOB (Free on Board)
The seller pays for the transportation of the goods tothe port of shipment and the loading сosts.
The buyer paуs for everything else (freight, insur-anсe' unloading and transportation from the port of
destination to his ware-house).
The passing of risk oс-сurs when the goods havepassed the ship's rail atthe port of shipment.
Vl. Terms of delrvery (ln(otеrms)
CFR (Cost and Freight)
The seller pays for the transportation of the goods tothe port of shipment, loading сosts and freight.
That means the buУer paУs for insuranсe, unloadingand for the goods to be transported from the port ofdestination to his warehouse.
The passing of risk is the same as for FoB (when thеgoods pass the ship's rail at thе port of shipment).
CIF (Cost, Insuranсe and Freight)
The seller pays for the transportation to the port ofshipment, loading сosts, freight and insuranсe.
That means the buУer pays the unloading сosts andfor the goods to be transported from the port of des-tination to his warehouse
The passing of risk is the same as for FOB and CFR(when the goods pass the ship's rail at the port ofshipment).
DES (Delivered ex ShiP)
The seller and thе buуer share theсosts exaсtly as desсribed underCIF"
The differenсe is in the passingof risk; this oссurs after the shiphas aгrived at the port of desti-nation but BEFORE the gоods areunloaded.
Сommегсiа| Еnql ish
DES (Delivered ех Quay)
The seller pays for the goоds to be transportеd to theport оf shipment, loading, freight, insuranсe andunloading.
Gоорs The buyer onlу has to pay for\\
/ the goods to be transported
/ from the port of destination tohis warеhouse.
The passing of risk oссurs af-ter the goods have bееn unload-ed at the pоrt of destination.
Еxerсise ]. | аm a British еXporteг. What Were the inсo.teгms herе?
, l ' I paid foг thе goods to bе transportеd to the doсks atHarwiсh. Afterwаrds thеy beсаmе the buyer,s rеsponsibiI i ty '
2. I madе the goods rеady for сoI|есt ion, but the buyeг hаdto do everything е|se'
З ' I paid a|| the сosts invo|ved in gett ing thе goods to Spain,but |еft thе сosts of un|oading to thе impoгtеr '
4 ' I paid alI the сosts invo|vеd in gett ing thе goods }o Мexiсo,but the buyeг took ovеr the r isk f rom thе t ime thе goodswere loaded onto the ship in London.
5' I pаid f or thе goods to bе transported to Dovеr аnd loadеdonto the ship, but that Was аl| '
Free Alongside Ship фpaнкo BдoлЬ бopтa сyднaquaу пpичaЛFrее on Board фpaнкo бopт суднa, ФoБship's гail пеpилa сyдIIa; леepCost and Frеight сToиNIoсть и фpaхтCost, Insuranсe сToI{IvIoсть' сTpaxoBaниeand Frеight и фpaxтDеlivеrеd ex Ship дoсTaBкa нa бopт кopaбляDelivered ex Quay дoстaBкa к llpичaлy
VI. Тerms of deIrvery (|nсoterms) 85
I pаid for the goods to be transported to thе doсks andloаded onto thе ship. | аlso аgreеd to pаy thе сost ofсаrrying the goods aсross the At lаnt iс.Тhе importer onIy hаd to pay for thе goods to bе trаns-ported f rom Rotterdаm to his wаrehouse. I pаrd for еvеry-thing e|sе.
Inсoterms for multimodal transport
The next three inсoterms сan be used for all fоrmsof transport inсluding multimodal (for example road +* air, train + ship). The сosts and responsibilities tobe shared are slightlу different froпr the shippinginсotеrms:
-л.*-т*\ 2' Тrдrrзpокт#---r>
3. Fргtcнт@
4. lпgun*нсs
L;}#Е1. The goods are delivered to the first сarrier.
2. organisation of transportation to thе buуer's ware-house and payпrent of the сosts inсurred.
B. Freight сosts (here сalled ..сarriage'') - the сhargemade for сarrуing the goods.
4. organisation and paуment of insuгanсe for thejourney.
FCA (Free Carrier)
The seller dеlivers the goods to the first сarrier (thisis the point at whiсh the passing of risk oссurs).
The buyer arranges and pays for transportation,freight and insuranсe.
+ ]sЁLLЕRъ r, Jгастоg{r Frпsт савпitп*_\*
dГ;
Сommеrсiа| Еnql ish
CPT (Carriage Paid To * named destination)
The seller delivers the goods to the first сarrier (atwhiсh point the passing of risk oссurs) and paysfreight оharges.
The buуer arranges and paуs for transportation andinsuranсe.
CIP (Carriage and Insuranсe Paid to * named des-t inat ion)
The seller delivers the goods to the first сarrier (pass-ing of risk), pays freight сharges and arranges andpays for insuranсe.
The buyer only has to arrange and pay for transpor-tation.
Inсoterms сoveгing payment of duty
The last three inсoterms are used in the сase of trans-portation through a boгdeг (although not within theЕuropean Union) where duty has to be paid. Theyсan be used for any form of transport.
DAF (Delivered at Frontiеr)
This inсoterm is most сommonly used for overlandtransport. The seller сovers all сosts and bears all
VI. Тerm5 of deIiverу (|nсotеrms)
risks until the goods reaсhed a named point at the
frontier.
The buyer paуs all соsts and bears all risks involved
in transporting the goods from the frontier to his
warehousе. He also pays duty.
DDU (Dеliverеd Duty Unpaid)
The seller pays all transportation сosts and bears all
risks involved in getting the goods to the buуer's
warehouse.
The buyer only has to paу duty.
5вrlg'l ььдl.s
DDP (Delivered Duty Paid)
The seller pays all сosts and bears all risks to get thegoods to the buyer's warehouse, inсluding paying
multimodal transport тpaнспopтиpoвкaнескoлЬ.IсиlvIи Bидa}Iи тpaEсIIopTa
F'ree Carrier свoбoдньlй IIepeBoзчикCarriage Paid To пepeBoзrсa oIIлaчeIIa дoCarriagе and Insur. пepeвoзкa и сTpaxoвкaanсe Paid to oIIдaчeIIьI дo
\ sЕLLLR,sJ rлстoп1
BUYЕ R,swдРЁlioU5Е
Сommerсiа| Еnol is l '
duty. This inсotеrm сonstitutes the seller,s maхimuпtobligation.
$вLLEn вsдвs сo915, Rl5l{5 {riр DurY
dutyborder, frontierDelivered at FrontierDеliverеd Dutу Unpaid
Delivered Duty paid
пoIIIJlинa
гpaIIицa
дoстaвкa Дo гpalrицЬIoIтЛaчeнa дoстaBI{a.бeз пorплиньroпЛaЧенa дoсTaвIсaи пoluЛинa
Ехerсlse 2. Whiсh inсoterm Was Usеd in еaсh сasе -ЕсA, сPТ, с lP, DAF, DDU, DDP?,1. When we importеd Т-shirts from the US, we on|y hаd toorgan|se trаnsportat ion - the сompаny in New York didеverything e|se.
2. We offered ouг сustomer in Brаzr l very fаvourаblе terms^
of dеl ivery; hе on|y had to pаy duty.З. l аrrangеd for the goods to bе sеnt аs far as the bordеr;аftеr thаt, it wаs up to the importer to do еverytr.rlng .i;'4. We didn,t havе to l i f t а f inger - thе exporter did every-thing I5 Wе hаd to arrangе lnSUrаnсе аs wel| аs pаy|ng to transport
thе lаst loаd of goods wе imported.6. I sent thе importеr the nесеssаry informаtion about theсаrr iagе сhаrges hе had to pаy, аnd he oгgаnised lnsur-anсe and tгansportаt ion himse|f.
*т!* V|. Тerms of del ivery (lnсoterms)
Groups of terms
The thirteen inсoterms сan be divided into four groupsaссording to the first letter of eaсh:
. .Е' terms (EХW): the passing point of сost andrisk is when the goods leave the seller's premisеs.
. .F' terms (F'сA' FAs, FoB): the buуer pays thefreight (сarriage) сosts.
. .C' terms (CFR, сIF, сPT, CIP): the seller paysthe сarriage сosts
..D' tеrms (DAF' DDP, DDU, DЕs' DEQ): thepassing point of сost and risk is on arrival in thebuyer's сountry.
Questions foг revision
1. Using Уour own words, explain the differenсes andsimilarities betrveеn:
. CIF and DES
. DES and DEQ
. DDP and DDU
. FAS and FOB
. CRF and CIF
. CPт and CIP
2. Arrange the inсоterms in order beginning withthe most favourable for the seller and ending withthe least favourable.
3. For rryhiсh inсoterms does the buyer have to payinsuranсe?
4. For whiсh inсoterms does the seller have to paуfreight?
5. Why do you think speсial inсoterms are neсessaryfor shipping?
Vll. Transportation
Domеstiс and oсеаn shippingRoаd trаnsportRai lway transportAir trаnsportQuestions for rеvtsiоn
A good transport sуstem is needed if goods are to betraded effiсiently. A сonsigner (someone who dis-patсhes goods) сan сhoose to send his сonsignment(the goods) to the сonsignee (the person who reсeivesthe goods) by:
. Water, whiсh сovers both domestiс (national) andoсean (international) shipping
. Land, by road or by rail
. Air.
When сhoosing the most suitable form of transport,the сonsignor has to сonsider:
. What kind of goods are to be sent - perishablegoods have to be transported more quiсkly than non-perishable goods, for example.
. The plaсe of destination - not all destinationsсan be reaсhed by all forms of transport.
. The сost of eaсh form of transport, how fast itis and how safe. The сonsignor may have to deсidewhether speed is more important than safety, foreхample.
Types of сargo
When goods are being transported, theУ are сalled..сargo'' or ..freight''. Cargo сan be divided into threeсategories:
. Geneгal сargo - goods sent paсked in boxes,сases' сhests and other сontainers.
. Bulk сargo - large quantities of itеms suсh assand, grain and сoal when sent unpaсked.
55555
СommerсiаI Еnql ish
. Bulky сargo - large individual items stlсh asсars whiсh have to be sent unpaсked.
сonsrgnor гpy3ooтпpaBиTеЛЬсonsignment гpуз; Irapтия тoвapaсonsigneе гpузolloлУчaтеЛьgeneral сargo смerпaнrтьrй гpyз; сбopньIй гpyзbulk сargo нaсьrпнoй гpyзbulky сargo гpoмoздкий гpyз
Dоmestiс and oсean shipping
Whеn sending goods by ship, the сarrier is the ship-ping line. Like all other forms of transport, ship-ping has сеrtain advantages and disadvantages forthe сonsignor and сonsignee:
Domestiс shipping
Domestiс shipping runs on inland waterways suсh as
r ivers ' lakesandсanals.oneimрortantserviсeрro-vided by domestiс shipping is the fеeder serviсe,
whiсh brings goods along inland waterwaуs to tlre
international quays where they сan be loaded direсt-
ly onto oсean-gоing ships for transportation abroad.
This saves сonsiderable time and effort сompared with
transporting gooсls tо thе port bу road or rail and
then Ьringing them to the quaу for loading.
93Vl|. Тransportаtion
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It is thе сheapеst formof transport ovеr longerdistances.
The ports of a сountrymay bе aссessible еvenwhеn foreigners arеn'tallowed into thе сountrvitself.
Unlimited distanсes сanbe сovеred (e.g. betweеnсontinents).
Largе quantities сan betransportеd.
It is the slowest means oftransport.
It may be subjeсt to delaysаnd wеather сonditions.
Thе nеtwork of inland wa.tеrways is rеlatively limitеd.
It may be neсessarУ totransport the goods a longdistaпсe to reaсh a port.
Thе insuranсe сosts are rеla-tively high.
фffis )-_
sв*The transport doсument used speсifiсaliу for domes-
tiс shipping is the riveг bill of lading (also сalled the
inland waterwaYs bill of lading)'
Rrvвк
сo.nPаRЕp то
94 Сommеrсiаl ЕngIish
shipping line ЛиIIия lvlopс}сиx IIepeBoзoIсfеeder serviсe сдy}fiбa .цoстaвкигiver bill of lading нalслaднaя дЛя peЧIIЬIx
IIepeBo3oк
oсean shipping
The goods are transported on the open sea or oсean.
There are several types of sea-goingl ship whiсh сar-ry сargo:
. Liners sail on fixed routes and keep to a sсhed-ule. They mainlу transport general сargo.
. Tramps take any сargo they сan get and sail toany port required. Thеу do not follow a sсhedule orany fixed route.
. Coasters travel from one port to another alongthe сoast of a сountry. They are not used for inter-national shipping.
The transport doсument used speсifiсally for oсeanshipping is the oсean bill of lading.
linеr лaйнeptramp гpyзoвoй пapoxoдсoaster кaбoтarкнoe сyдIrooсean bill of lading нaIсЛaдIIaя дЛя lvlopсI{иx
пepeBo3oI{
Road transport
Goods rvhiсh need сareful handling, suсh as fruit,are often sent by road, as theу only need to be loadedand unloaded onсe. Normallу they aгe sent as gene-ral сargo. The сarrier responsible for transportinggoods by road is the haulage сompany.
95VlI. тrаnsрortаtion
Advantages and disadvantages of road transport:
It is very fast over short dis-tanсеs.The extensive road networkmeans that most destinationsсan be reaсhed.
It is relatively seсurе - evenvaluable items suсh as сashreserves сan be transportedby speсialist сompanies
Door-to-door transPortationminimises the need for han-dling - goods onlY have tobe loaded and unloaded onсе.
Another advantage of sending goods by road (although
it is also possible with other means of transport) is
the opportunitу of using a grouped сonsignment
serviсe. If a trader only has a small quantity of сar-
go to send, he сan сollaborate with other sellers with
small сonsignments all going to the same destina-
Only small quantitiesсan bе transported.
Therе is a relativelуhigh risk of aссidentsand delays throughtraffiс jams.
It is expensive andtime-сonsuming overlonger distanсes; in-terсontinental trans-portation is virtuallYimpossible.
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Сommerсiаl ЕngIlsh
tion. The various part сonsignments are then senttogether as one whole сonsignment, whiсh reduсesthe transport сosts for everybodу involved.
one of the people who organises grouped сonsign-ments is the forwaгding agent. He is thе intermedi.ary between the buуer, seller and сarriers:
other serviсes rvhiсh he provides are delivering goodsfrom the seller to the сarrier, tгansporting goodswith his own lorries, arranging speсial paсkaging andproviding storage spaсe for goods whiсh are to bedispatсhed at a later date.
The transport doсuments essential to road transportare the international сonsignment note (CМR) ifa haulage сompany is used, and the ForwaгdingAgent's Certifiеate of Reсeipt (FсR) for transporta-tion by a forwarding agent.
haulage сomрany кoftrпaния нaзeМнЬIxIIepев03oк
groupedсonsignment сбopньtйкoнoсaшreнтforwarding agent экспeдиTopintermediarу пoсpeдIiиItсonsignrnеnt notе гpyЗoBaя IraкJIaднaяForwarding Agеnt's aкт пpиeшII{иCеrtifiсate of Reсеipt эксllедитopolvl
VIl. Trаnsportation
RailwaY transPort
If goods are transported bу train, the сarrier is the
railway сompany. The priсe of railwaу transport de-pends on how fast the goods are to travel: the slowgoods train is сheaper than the passengeг tгain, and
the express train is the fastest аnd most expensiveof all.
Advantages and disadvantages of railwaу transport:
r1i
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L
.Гhe transport doсument needed for railway trans.
port is the гail сonsignment note.
Virtuallу all typеs of сargo сanbe transported.
Virtually any distanсе сan becovеrеd.
Large quantitiеs саn be trans-portеd.
railwaу сOmpany
goods trainpassenger train
еxpress trainrail сonsignment notе
Thе railways maуbe affесted bystrikes.
Therе is a rеlati-velу high risk ofthеft.
кo}rпaIIиЯ }t(eЛe3l{oдopo)tt -
ItьIx пepeвo3oK
тoвapвьrй пoeзд
пaссa}Iсиpский пoезд
пoe3д.экспpeсс
IIaклa.цI{aя дЛя Ilepевo3oк
rтсeлeзнoй дopoгoй
Air transport
Air transport is сhosen when the goods are valuablе,
fragi1e or urgently needed. The сarrier is the airline.
4 - 106ф6
98 сommerсiаl Еngl is i
Advantages and disadvantages:
Vll. Тrаnsportаtion
5. A сargo of timber (wood) from Germany to Eng.
land via Rotterdam.
6. A сonsignment of diamonds from Cape Town to
Cairo.
?. A large сonsignment of сoal from Sheffield to Leeds(both in thе north of Еngland).
8. A сargo of bananas from the Caribbean tо Dublin.
9. A largе сonsignment of lorries from London to
Warsaw.
10. A small сonsignment of сheese from Srлlitzerland
to the USA.
Iтle
99
Air transport is fast.
It is a sесurе form оftransport, whiсhrneans that insu-rаnсe сosts are low..l'hеrе is no limita.tion as to distanсe.
It is relatively еxpensivе.
It is subjeсt to delays andstrikes.
It is not praсtiсal for short dis-tanсеs.
It rnay be neсessary tо sendthе gоods somе distanсe to reaсhthe сargo terminal of an airport.
The transport doсument neсessarу wlren goods arеdispatсhed by air is the air waybilt.
airlinе aBИaJIIItIvtя
airwaуbi l l aвиaгpyзoвaяIIaIслa.цнaя
Questions for revision
Whiсh form or forms of transport would уou сhoosefor the following сonsignments, and why? What kindof сargo is involved in eaсh сase?
1. A large сonsignment of сars from Hambuгg toDresden.
2. A small сonsignment of flour fronr Wales to Lon-don.
3. A small соnsignment of сhina from London toMosсow.
4. An urgently needed сonsignment of tea from Bom-bay to Boston.
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In the last сhapter we mentionеd some of the mostessential transport doсuments, inсluding the bill oflading and the air waуbill. We will now look at theseand some otheгs in morе detail.
Thе oсean bill of lading
As we know, this doсument is issued when goods aresent bу sea. There are normallу three oгiginals.
A bill of lading serves a number of purposes:. It is evidenсe that the shipping line has reсeived
the goods (it's the shipping line's reсeipt).. It is evidenсe of the сontraсt between the ex.
porter (shipper) and the shipping line.. It dосuments the shipping line's promise to hand
oveг the goods to the holder of the B/L at the port ofdestination.
. It is a doсument of title - evidenсe of owner-ship of the goods.
A bill of lading сan also be negotiable, whiсh meansit сan be transferrеd to a third party along withownership of the goods, provided it is endorsed.
How is a bill of lading issued?
1. The еxporter gives the goods to the forwarding agentfor transportation to the port of shipmеnt. He also handsover a shipping note (in the сase of goods whiсh aren'tdangerous; other''vise hе hands over a dangеrous goodsnote or DGN). The shipping note provides the port autho-
Vlll. Export doсuments
The oсеan bil l of lаdinoAir wаybi|lСommerсial invoiсePгo-forma invoiсeСustoms invoiсеСonsular invoiсеСеrtifiсаtе of originQuеstions for revision
104 Сommerсiа| Еngl ish
7. The shipper then arrang-еs for thе bill of lading tobе sent to the importеr or
, the importеr 's bank, de-pеnding on the tеrms ofpayment. onсе he has thebil l of lading, the importеrсan сolleсt his goods frornthe port in his сountry.
shipper oтпpaBиTeЛЬshipping note yBeдotvlЛellие oб oтгpyзкedangerous goods note yBeдo}lлеIlиe oб oтгpyзке
oпaснoгo гpy3atallyman кoнтpoЛеpMate's Reсeipt ЦIтypМalrскaя paспискa
сlеan vистьlй, B IIopядкеdirty гpязньrй, IIe B пopядкe
Еxerсise . l . Bе|ow is an еxаmp|e of а bi l| of lаding. Lookat i t and аnswer the quest ions.
, l ' Who is the shippеr?2. Who is the сarr iеr?З. Who is to reсeive the goods?4. Сan this bi|I of lading be trаnsferred to a thiгd pаrty?5. Whеrе is thе port of shipmеnt?6. on whiсh date are the goods to Ieave the port of ship-
ment?7. Where is the port of destinаtion?B. on whiсh day wi| l thе ship probab|y arr ive at the port of
dest inаt ion?9. Who is the pаy the freight сhаrges - the exporter or the
rmoorter?. l0. |s this bi|| of |ading с|еan or dirty?
V|| l . Еxport doсumеnts r05
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oсeаn Bi|I of LadingNegotiаb|e
ExportеrGrayson Сеrаmiсs Ltd.2З Pottеrs LаneStаfford ST] 4ЕDGRЕAТ BR|ТAIN
NEvЕRslNKsнlPPING LlNЕ
Сonsigneeto ordеr
B/L no.DС19762з
No. of originа|sз
Еxportеr,s ref.ur 001
VesselSS Unsinkable
Port of loadingНarwiсh, GB
SaiIing dаtе22 Mаrсh 2000
Port of disсhаrgеHouston. US
EтA4 Aorrl 2000
NotifyUnited lmporting Inс.,]44,1 Bеaсh DrivеHouston, ТX 28736u.s.A.
Freight[x] Prеpaid[ ] Сo|lесt
No. oасkaoes l Partiсu|ars of qoods Wеiqht Quаntity,]5 | 15 paсkаgеs Stаttordshtrеl 0|nner sеrvIсеs
З00
Total: 1200 KGN/ з00Aссеptеd by thе саrriеr from thе еXporter in аppаrеnt good ordеr andсondition (un|ess otherwisе notеd hеrеin) thе totа| numbеr of quаntity o{сontаinеrs or othеr paсkаgеs or units indiсated аbovе, stаted by thе еx-portеr to сomprisе thе goods spесifiеd аbovе for саrriаge subjeсt to аl|thе terms hеrеof from the p|aсе of ассеptаnсе or port of loading to thеplaсе or port of dеIivеry, whiсhеvеr аpp|iсab|е. ln aссepting this BilI ofLаding the mеrсhаnt agrees to bе bound by a|| its сonditions, exсеptionsor provisions, whеther writtеn, printеd or stampеd on thе f ront or baсkhеrеon.
|N W|TNЕss whеreof тHRЕЕ (з) originаI Bs/Lhаvе bееn signеd, of not othеrwise stаted herein,one of whiсh bеing aссompIishеd thе othеrs tobе void.
/kru:lch, 20 Jla'€h 2000 |4аaаh snid|
PIасе аnd dаtе of issuе Siqned for the Mаster of thе аbovе vеssе|
Сommerсrа| Еngl ish
Types of bill of lading
We have already seen that a bill of lading сan beсlean (when the goods appear to be in good orderwhen loaded onto the ship) or dirty (when some ofthe goods are damaged or missing). If the bill oflading is dirty, the сonsignee сan refuse to take de-livery of the goods. Furthermore, if the bill of lad-ing is an essential part of a method of payment (forexample the letter of сredit), the bank may refuse it.
However, there are also various other types of bill oflading:
own transport doсument.Hядguвs то Рuqрто Rlсо vlд Ngw Уопк
V|l|. Еxport doсuments
1. The reсeivedbill of lading:
2. The on-boardbill of lading:
3. The straightbill of lading:
4. The order billof lading:
This kind ot Ъ/I is issued whenthe goods have been inspeсtedbut haven't yet been loadedonto the ship. Suсh a b/l mayfor example be neсessary whenthe ship has been delaуed andhasn't Уet reaсhed the portwhere the goods are waiting.
In сontrast to the reсeived b/l,this bill of lading is issued forgoods whiсh have already beenloaded onto a ship. Banks maуinsist on on-board bills of lad-ing as being safer than the re-сeived version.
This kind ot Ъ/| can'\ be nego-tiated. only the сonsigneestated on thе b/l сan take de-livery of the goods.
This b/l сan be negotiated byendorsement. Banks onlу usu-ally aссept order bills of lading.
6. The сontaineгbill of lading:
7. The groupagebill of lading:
This kind ot Ъ/I is used whenthe goods are to be transportedbу more than one сarrier. Theb/l is valid for the whole jour-ney and prevents eaсh individ-ua] сarrier having to issue its
This is used for the transporta-tion of сontainerised goods(goods paсked in standard-sizedсontainers whiсh are thensealed and not opened untilthey reaсh their destination.These сontainers do not have tobe inspeсted by the сustomsauthorities when сrossing bor-ders). Suсh a b/l also сovers theroad and/or rail transport ne-сessarУ to get the goods to andfrom the ports of shipпrent anddestination.
This ь/I is used for groupedсonsignments. The bill of lad-ing lists the forwarding agentrvho arranged the grouped сon-signment as the shipper, andthe forwarder in the importing
5. The throughbill of lading:
#6оорg
Тнвоuсн B/L
108
сountry as the сonsignee. Theforwarding agent then issues ahorrse bill of lading to eaсh ofthe exporters whose goods areinсluded in the grouped сon-signment. The house b/l thenserves as the сolleсtion doсu-ment for the importer.
VlIl ' Еxport doсumеnts
Aiг waуbill
Unlike the bill of lading, the air waybill isn't a doсu-ment of title and сan't be negotiated. However, theexporter has a right of disposal to the goods, whiсhmeans that on presenting his сopy of the air waуbill,he сan stop the goods during their journey, have thegoods delivered to a different сonsignee from theсonsignee mentioned on the air waуbill, or have theсonsignment returnеd. This is useful if the eхporterdisеovers after dispatсhing the goods that the сon.signee may not be able to pay for them.
The air waybill is made up of thrеe originals andseveral сopies:
. original 1 is marked ..For сarrier'' and is keptby the airline onсe it has been signed by the сonsign-or or his agent.
. original 2 is marked ..For сonsignee'' and trav-els with the goods.
. Original 3 is marked "For shipper" and is re-turned to the exporter onсe it has been signed by theairline.
Еxerсise 3. Look at the air wаybi|| shown bеlow аnd аn.swer the quеstions.
1. Who is the сonsignor?2. Who is thе саrrier?
Сommerсiai Еng|ish 109
Г7
Exerсise 2. What kinds of b/| are these?
,,
Goodsshipped
and waitingto dеpart
Containerto be sent
from Londonto Paris via
Doverand Calais
Part-loadsshipped
bу Еred'sForwarding
Agenсy
reсeived b/l
on-board b/l
straight b/lorder b/lthrough b/lсоntainer b/l
сontainеrised goodsсustoms authoritiesgroupagе b/lhousе b/l
нaкЛaдI{aя нa IIpoBеpe}IIIьIи'Iro Irе lloгpУrкeнньrй гpyзIIaкЛa'цIraя IIa грy3' IIprIня-тьrй нa бopт сyднaиMенIIaя IIaкЛa.ЦIIaя
opдepllaя lla}сЛaднaЯ
сквoзнaя I{aI(ЛaдIIaя
нaклaднaя нa пpoвo3тoBapoB в кoнтeйнepe
гpyз B кoнтeйнepe
TaМo}кеI]ньIе вЛасTи
сбopнaя IIакЛaднaя
вI{yтpeIIняя нaклaдIlaя
ConsigneeP. Smithor ordеr
Bulk сargoto be sent
from Londonto Copen-hagen viaHamburg
Case no. 5missing
Goodsin Kiel
awaitingshipment
ConsigneeP. Smith
Goodsrесeived
in apparentgood ordеr
110 Сommerсial Еng|ish V|| l . Еxport doсuments
Commеrсial invoiсе
The сommerсial invoiсe is the seller's formal rеquestfor payment. Along rryith the transport doсumеnt, itis probably the most important paper needed in anexport transaсtion, as it is also an essential сompо-nent of сertain methods of paуment (for example theletter of сredit) and indispensable for сustoms pur-poses. Several сopies are madе.
The сommerсia l invoiсe serves the fol lowingpurposes:
. It is a reсord of the transaсtion between the sell-er and the buyer, listing details of the goods, howmuсh they сost and how they are to be transported
. It is the basis on whiсh the сustoms authoritiesassess how muсh duty or taх is to be paid
. It is used to сonfirm the value of the goods forinsuranсe purposеs.
Pro-forma invoiсe
Unlike the сommerсial invоiсe, the pro-forma in-voiсe is not a request for payment. Instead, it isa.,sample'' invoiсe, whiсh may for example be is-sued:
. When the buyer has requested a quotation
. When thе seller sends the buyer goods on ap.proval
. If the goods are to be sold by an agent, in whiсhсase the agent will need a pro-forma invoiсe in ordеrto be able to fix his own priсes.
З. Who is to reсeive the goods?4. Whiсh airport аre thе goods to Ieаvе from?5. Whiсh аirport wi l l the goods аrrtve аt?6. Whаt does the сonsignmеnt сonsist of?7. Who is to pay'n.
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AIв WAYвILLioil !ЕooтIA.LE
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сoNsloNulNт !oт.}
ЕMU AIRWAYS
5 саses, |oса| food produсts
Sсottish Еxport Сo. Ltd'999 Prinсei Strеet, Еdinburgh
Bеst of BritishGаrtеnstr ' ]4100] |\z]цnсhenq|аdbaсh GЕRMANY
04 Mаr 2000 ЕA Еdinburqh ?. Shith
113112 Сommerсiа| Еngl ish
right of disposal пpaBo paспopя}rсеIrия(сoбствeннoсти)
сommerсial invoiсe тopгoвьlй сvет.фaктypatax нaЛoгpro.foгmainvoiсе lтpeдBapитeльньrйсчeтon approval для oзtl&кoluЛeнияagent aгеIlт; пpeдсTaвиTeлЬ
Customs invoiсe
Some сountries may require the exporter to providеa сustoms invoiсe, a speсial invoiсe for the сustomsauthorities of the importing сountrу. This invoiеe isvеrу siпrilar to the сommerсial invoiсe, but requiresadditional information suсh as the domestiс valuеand export priсe of the goods. With this informa.tion, the сustorns authoritiеs сan deсide whether thegoods are admissible (whether theу сan be allowedinto the сountry) and how muсh duty is to be paid.
A сustoms invoiсe may be required in the followingsituations:
. Wherе the value of the сonsignment is relative-ly high
. Where speсifiс types of goods are being imported
. If the importer requires preferential tгeatmentby the сustoms authorities, for example a lower rateof duty.
Consulaг invoiсe
Ceгtain сountriеs, notablу those in South Ameriсaomaу insist on a сonsular invoiсe as evidenсe that thegoods being imported are not over.priсed. A сonsu-lar invoiсe is issuеd as follorvs:
V|||. Еxport doсuments
1. The ехporter buуs thеrelevant forms from theсonsulate of the importingсountry loсatеd in his ownсountry.
2. The exporter fil ls outthese forms. This is no еasytask, аs there may be up to6 сopies, and theу all haveto be pеrfeсt - if anythinghas beеn addеd or сrossеdorrt. thе forms will bе rе-jeсted.
3. The exporter takesa сoЦllnеrсial invoiсе forthe goods to be exported totlrе Chamber of Cornmerсe.Here thе invoiсе is stampedon thе revеrsе sidе to сon-firm the origin of the goods(where theу сome frоm).
4. The exporter then takesаll thesе forms - plus anyothers whiсh may be re-quired - baсk the to сon-sulate.
5. Here thе сonsular invоiсeis legalised by the сonsul.This means that the eхport.er has to sweаr to the aс-сuraсy of the doсuments.
РЕRUvl4}lсoN5ULд
&h ed.\$^.М\у // r.л
115114 Сommerсiа| ЕngIrsh
Certifiсate of origin
The сeгtifiсate of origin is issued by the Chamber ofCommerсe as proof of where the goods were produсed.There are two reasons why a сertifiсate of originmight be neсessary:
. When there is a trade agreement between theexporting and importing сountries. In this сase, if itсan bе proved that the goods were made in the еx-porting сountry, duty is сharged at a lower rate orpossiblу not сharged at all.
. For politiсal reasons, to prove that importersaren't importing goods from сountries with whiсhtrading relatiоns are not desired.
сustoms invoiсe тaп[olтсellнaя нaкЛaднaяadmissiblе paspelшelrньIй (к ввoзy)preferential treatment пpeфepeнциaдьньrй pe)киlvlсonsular invoiсe кoнсyJIЬский инвoйсovеr-priсed зaBЬIIIIeHI{ЬIй (o.цeне)origin пpoисxolrtдel{иеto legalise ЛегaЛизoвaтьсertifiсate of origin сepтификaт
IIpoисxoEt/цeIrиfl
Еxerсise 4. Look аt the invoiсе bе|ow and аnswer thеfol lowing quеst ions.
. l . Whаt kind of invoiсе is i t , and what purposе doеs i t sегve?2. Who is the seIlеr?З. Who is the buyеr?4. Нow аnd when arе thе goods to bе sеnt to Саnadа?5. Whаt kind of goods аrе involved, аnd where do thеy сomе
f гom?6. How is pаymеnt to bе mаdе?
Еriс,s Е|eсtroniсs196 Burnside WауVаnсouver, BСсANADA
Air f reightAirрort of departure: Tokyo NаritаAirport of dеstinаtion: Vаn(ouVеr
; 5 расkаgеs mаrked 1-5 of 5 сontаiningIshigаwa сompaсt саmerаs, 20 perpасkаge
Vll|. Еxport doсumеnts
, iйr,d.- 'd Ь- . , 'я". ' - .|ФoП' lп.Г
',..Е";Ф.i "-'., ..]ll..'l'*iн:lJв1&**'"*,.l )n)n
. . ' '4YнYl ' l . " ' -"","^' i
вl,; . i .4 ' ' ' . ' \; A .т .: , is й.." .ф*..d (L. .^
'- . lz\ rп ТЙ
.ЕF .162аr .- 50 KG 20,000'00фЁ;*-mф-*;Г'ьйй' l .(&i.fiФi'.]iфdi,ф:.
I
II
' l )
rф lь eс" di{L; iпФl "..-аайn' iod; l i innndl igr ' . ln9 L lьq'-a l ln{ir l icho] i .d!{6.. ' t ! la
i1
r:*;rт'ilf ;i: "1'1;..у.ъ ""'*l i: j1l"ф*i-фф.i , , l !ф]Fтt ' ,c
L.!a i . . rй i i . iq loф oi
Questions for геvision
1. What is a Mate's Reсeipt? What is the differenсebetwеen a сlean and a dirty Mate's Reсeipt?
2. Desсribe the differenсes and similarities between:. The reсeived and on-board bills of lading
116 Сommerсiаl Еnglrsh
. The ordеr and straight bills of lading
. Thе through and сontainer bills of lading
. The bill of lading and the air waybill.
3. In whiсh сases would you issue a pro-forma in-voiсe rather than a сommerсial invoiсe?
4. Whiсh different purposes do the сustoms and сon-sular invoiсes and the сertifiсate of origin serve?
lX. Customs and duty
5 Тypеs of duty5 Сa|сu|аt ing duty5 Сustoms proсеdurе5 Quеstions for rеVision
Everу сountry has to ensure that the proportion ofimports to exports has a positive effeсt on its eсono-my. Too many сheap imports сan damage a сountry'seсonomy' as sales of the сountry's home-рroduсedgoods will suffеr. Too manУ expensive exports сanalso be harmful beсause few people will buy them.Therefore, eaсh сountry has the right tо impose dutyon imported goods in order to сontrol priсes and pro-teсt its eсonomУ.
Types of duty
Export dutу
Export dutу is sometimes imposed on goods whenthey leave the сountry (for exanlple on oil exportsfrom Russia). However, this kind of dutу is not сom-monly imposed beсause in many сases it would makethe goods too expensive for the world market.
Import duty
This kind of dutу is imposеd on goods when they arebrought into a сountry. There are two types of im-port dutу:
1. Proteсtive duty: Proteсtive duty is imposed toprevent home produсers losing business beсause ofсheaper foreign imports. Importers in ltaly, for ех-ample, may try to import shoes from South Ameriсaas they are сheaper than Italian shoes; this proсess
lХ. Сustoms and duty
is known as dumping. This, of сourse' would bea threat to the Italian shoe industry. To prеvent this,the Italian government would impose proteсtive dutyon South Ameriсan shoes, whiсh would inсrease theрriсe so muсh that they would no longer be able toсompete with Italian shoes.
2. Preferential duty: Preferential duty is a lowerrate of dutу impоsed on сountries with whom thereis a trade agreement. Suсh agreements may be bilat-eral (between two сountries, suсh as Germany andIsrael) or multilatеral (between three or more сoun-tries). Groups of сountries whiсh have multilateraltrade agreements inсlude NAFTA (the North Ame-riсan Free Trade Assoсiation, made up of Canada,the US and Мexiсo) and ASЕAN (the Assoсiation ofSoutheast Asian Nations, made up of Brunei, Indo-nesia' Мalaysia, the Philippines, Singapore and Thai-land). This lower rate of dutу is imposed to еnсour-age importers to trade with the preferred сountriesrather than with non-member nations.
Еxсise duty
The purpоse of eхсisе duty is to raise monеУ for thegovernment. It is imposed on сertain home-produсedproduсts suсh as luxury goods, сigarettes, oil andalсoho1.
home.produсed goods oTeЧeсTвeI{IIьIe ToвapьIto impose duty oблaгaть пotшлинoйexport duty экспopTlraя пoIIIЛиI{aimport duty иNlпopтнaя пolЦЛинa;
IIaлoг I{a иMпopTprоteсtivе duty пpoтeкциoнI{aя пoIIIЛиIIa
120 Сommеrсiаl Еnolrsh lx сustoms and duty
dumping де\tIIиIlгprеferential duty пpeфepeнциaЛьнaя пoIIIЛиЕatradеagreement тopгoвoeсoгЛaIIIeI{иrbilatеral двустopoннийmu]tilatеral мнoгoстopоннийexсise duty aкцизньrй сбopluxurу goods шpe/цМeтьI poскoIIIи
Compound duty
Compound duty, also known as mixed dutу, is сalсu-lated using a сombination of ad valorem and speсifiсfaсtors; both the quantity or weight and the value ofthe goods are taken into сonsideration. This kind ofduty is imposed on goods where the priсes fluсtuate,in order to prevent the amount of duty falling belowa сertain minimum. For eхample, duty may be im-pоsed on tea at a ratе of 70o/. of the value (ad valoremduty). However, if the priсe of tea falls, steps mustbe taken to prevent the duty falling below a rate of$20 per 100 kg (speсifiс duty). If this happens, spe-сifiс dutу will be сharged in addition to the ad valor-em duty to keep the duty imposed at the minimumrequired.
ad valorem duty пoIIIЛинa ad valoremspeсifiс(fixed)dutу спeцифинeскaяпoIIIJIиI{aсompound (mixеd) duty сMеIIIaнIlaя пoIIIЛиIIa
Customs proсеdurе
If the goods being imported or exportеd arе duty-free (if no duty has to be paid on them), theу have tobe deсlared to the сustoms authorities but rvill beimmediatelу еleared for further transportation. How-ever, if the goods are dutiable (if dutу has to be paidon them), they will proсeed through сustoms in oneof the ways desсribed here:
1. The goods are transported to the сustoms offiсe atthe border, the duty is сalсulated and the importerpays it (or the eхporter, depending on the tеrms of
4
Еxerсisе , l ' What kind of duty do you think Wаs imposedin еасh саse?
. l . An eхportеr rn Switzеr lаnd sent a сonsignmеnt of сhееseto аn importеr in Swеdеn'
2. An importеr in Japan wаntеd to buy сheap сamеrаs fromТаiwan'
3. A group of Amеriсаn tourists bought а quаntity of 'expen-sive perf ume whi|e on hol idаv in Franсе.A Gеrmаn tobассo сompаny imported сigars from Сubа.An |ndian teа сompаny srnt а lаrgе quаntlty of tea toEnqlаnd.
Calсulating duty
Duty is сalсulated in several WaУs:
Ad valorem duty
Ad valorem dutу is сharged as a perсentage of thevalue of the goods, i.e. the more expensive the goods,the higher the dutу.
Speсifiс dutу
Spесifiс duty, also known as fiхed duty, is сalсulat-ed as a fiхed sum of money pеr unit of quantity orweight, e.g. 5 сеnts per kilo, 10 dollars per 1000 unitsеtс.
Сommerсiа| Еngl ish
delivery). The goods are then released for furthertransportation to their destination.
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2. In the сase of сontainerised goods, the сontaineris sealed by the сustoms authorities at the plaсe ofdeparture, then transported to the сustoms offiсe atthe plaсe of destination. Herе the сontainer is openеd,the duty is сalсulated and the importer pays it. Thiseliminates the need for the goods to be inspeсted ateverУ border they сross.
duty-free бeспorплинньrйto deсlare goods дeкЛapиpoBaTЬ ToBapto сlеar goods through пpoвoдиTЬ тaпIoхteннyюсustoms oчистItydutiable oблaгaeмьrй пorцлиной
|Х' сUstoms аnd duty
been paid. This means the dutу doesn't have to bepaid until the goods are needed (fоr example whenthe importer finds a buyer). In this сase, the import-еr proсeeds as follows:
12з
a) The i lnportеr has his rАgoods brought to thе bond- t \. ,\ed warehouse for storage.
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Г.1|l ilLjI-J
RpЕRАRЁ|.{oU5Е
3. The third possibilitуthe goods in a bondedhousе where goods сan
is for the importer to storewarehouse, a speсial ware.be stored until the dutv has
b) In rеturrr , thе waгe-housеman gives the im-porter a bond warrant asa reсеipt for the goоds. Thеbond warrant is a negotia-ble doсument.
с) Thе importеr tr iеs tofind buyers for the goodswhile theу are in bond.
Bо npel
BORDTRдRtl]ou5Е
BопoеlrCusтояts Cusто.r's
1#лпsя,y
125124 Сommerсiаl ЕngIish lX. Customs and duty
bonded warehousewarehousemanbond warrant
in bond
sampling orderinspeсtion orderdеlivеry order
сustoms pеrmit
тa\[o}IdeIIIIьIй скдaд
влaделeц/paбoтник c|<JIaДa
дoкyМеIIт o xpaнeнIrи ToBapa
IIa скJIaде
нaxoдящийся Irа Taмo,{сeннoМскЛaдe ; нepaстaМo}Itеrrньrй
opдеp I{a IloЛyчeние oбpaзцoв
инспeкциorrньrй opдeppaспopя)rdel{иe o BЬIдaчетoBapa сo сI(Лaдa
тaшIo)tсеIllloe paзpeIIIе}Iиe
Questions for revision
1. Using your own words, desсribе the different tуpesof duty. What purposes do they serve?
2. How сan dutу be сalсulated? Why do you think itis neсessary to have more than one way of сalсulat.ing duty?
3. What is a bonded warehouse, and what purpose
does it serve?
4. A bond warrant is a doсument of title. What doesthis mean?
5. Explain the differenсe between a sampling orderand an inspeсtion order. Give some eхamples of goodsfor whiсh eaсh one would be appropriate.
-/ъ..r --\(дi .}вовоtп
[q/ JYiyqysl\ .фff iГ:
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d) Should the potential buу-еr neеd to sеe samples ofthе goods whilе thеу arеinbond. this neеdn't bea problem. The importergoes to the warehousemanand obtains either a sаm-pling ordeг, whiсh enablеshirn to take away samplеsof thе goods in bond; or aninspeсt ion order, whiсhеnable lrim to take the po.tential сustomer to inspeсtthе goods.
е) onсe the importеr hasfound a buyer, he ецdorsеsthe bond warrant and handsit ovеr to thе buуer. If hehas found several buyers,еaсh of them reсеives a dе-livеry ordеr .whiсh servesthe same purposе as thebond warrant.
f) The buуеr takes thе bondwarrant (or delivеry ordеr)baсk to the bonded Warе-house and pays thе duty onthe goods. In rеturn, hereсeivеs a сustoms permitwhiсh means the goods сanbе released from bond.
g) The buуer then takes theсustoms permit and bondwаrrant to the warehouse-man, who hands ovеr thеgoods in rеturn.
BoRDЕR
/}d\A\
/ l
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X. Marine lnsuranсe
5 Prinсiplеs of insurаnсе5 Types of insuranсе poliсy5 Тypes of |oss5 Quеstiоns for revision
Мarine insuranсe is the oldest form of insuranсe.Baсk in the Middle Ages, ships were the most im.pоrtant form of transport, and thеir сargo цrasоften very valuable. Sometimes traders would evenrisk thеir wholе сapital with just one slripment. Sosomebody сame up with the idea of forming a groupto spread the risk - and marine insuranсe urasborn.
Very generally, marine insuranсe works as follows:
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t
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The ship and сargo owners (the insured) eaсh paуa perсentage of the value of their goods (the pre.mium) into a fund administered bу the insuranсeсompany (the insurer). Should one of the insuredthen suffer a loss, he сan сlaim сompensation fromthe insurer for the loss; this means he will reсeivemoney from the fund to the value of the loss hesuffеred.
'ъAl.Еg а сLа1Jn
128 Сommerсiаl Еng|ish X. Mаrine lnsuгanсe
quirements are fulfil led when the insuranсe poliсy
is drawn up.
Utmost good faith (uberrimae fidei)
Whеn somеone fills out a form applуing to takeout insuranсe, he is obliged to tеll the truth aboutthe value and сondition of the goods to be insured,and also to mеntion anything whiсh might inсreasethe risk of the goods being stolen or damaged. Theinsurer aссеpts the appliсation in ..utmost goоd
faith'' that all the details supplied by the insurеdare сorreсt, and fixes the level of the premium
aссordinglу.
For his part, the insurer is obliged to deal fairlуwith the insured, for exarnple by making all the сon-ditions of the insuranсе poliсy сlеar to him.
Insurable interest
It is essential that the insured has an insurablе in.terest in the goods to be insured: this means he hasto suffer a finanсial loss if the goods are stolen ordamaged. Generally this means that you сan takeout insuranсe for Уour own property, but not forsomeone else's.
Indemnitу
The idea of indemnity is that if thе insured suffersa loss, he has to be paid suffiсient сompensation tobring him baсk to the same finanсial сondition as hewas in before the loss - not more and not less (this
doesn't apply to life or personal aссident insuranсe).This prevents people ovеr-insuring their goods in thehope of making a profit.
5 - l0(rtl6
insuredpremium
insurerto suffer a lossto сlaim сompensation
3aстpaхoBaнньrйстрaxoвaя пpеMия;стрaxoвoй B3IIoсстpaxoBaтeльпoIIeсTи yбьrткитpeбoвaть BoзMeщeIIиЯ
Some of the risks against whiсh it is possible to takeout insuranсe inсludе:
. So-сalled Aсts of God suсh as fire, floods, earth-quakes etс.
. Loss of the goods through being washed ovеr-board
. Damage to the goods, e.g. by breaking, bending etс.
. Damage to the goods bу veгmin suсh a,s rats andnliсе
. Loss of the ship on whiсh the goods are beingtrarrspоrtеd, е.g. bу sinking оr сollision with anothership
. Loss of the goоds through theft or non-delivеryStandard insuranсe poliсies generallу do not сoverpolitiсal risks suсh as war and strikes. However, itmay be possible to obtain insuranсe сover of theserisks by pаying an extra or higher premium.
Aсt of God стиxийнoе бeдствиevermin BpeдиTeльсover зОесь: IIoI{pьITиe
Prinсiples of insuranсe
F,or insuranсe to funсtion properly, the insurer andinsured have to make sure that сertain basiс re-
1з0 Сommerсtа| Fnпlrчl .
Subrogation
onсe thе insurer has сompensated the insured forhis loss, he has the right to reсover the amount inquestion from tlre party respоnsible for the loss (forexample, if the insurer сan prove that the ship wasnot seaworthy, he сan take legal steps against theship owner).
insurance poliсу стpaxoвoй пoлис' стpaxoвкautmost good faith lIoлнoe дoвepиeinsurablеinterest стpaхoвoй иIrтepeсindemnity гapallтия oт yбьrткoвsubrogation пepexoд IIpaB стpaхoBaтеЛя
к сTpaxoвщикyseaworthy гoдньrй дЛя ПлaBaния
Х. Mаrine Insurаnсе
insuranсe poliсу is ready. The following tуpes of сoverare available:
. Hull poliсies сover the ship itself, but not thegoods being сarried.
. Caгgo poliсies сover the goods сarried on boardthe ship, but nоt the ship itself.
Voyage poliсу
This tуpe of poliсy сovers the ship and/or сargo forone voУage only. This kind of poliсy пray speсify a datelimit within whiсh the ship is expeсted to have ar-rived at the port of destination. It is used bу peopleor сompaniеs who onlу have to ship goods oссasion-al ly.
Time poliсy
This is the type of poliсy used most often. It сovers allshipments made within a сertain period of time. Thepremium is paid in advanсe and then adjusted at theend of the period of insuranсe, depending on the numberand value of shipments made. The insured has the re-sponsibility of filling out an insuranсe сertifiсate foreaсh shipment, so that an aссurate reсord сan be pre.sented at the end of the period of insuranсe.
Floating poliсy
1з1
Еxerсisе 1. Whаt is wrong here?1. Mr. Smith,s insurаnсе сompany refusеd to pаy him when
his housе was broken into, аs they found out fгom pol iсerесords thаt i t had alrеady beеn brokеn into twiсe beforеhе took out insuranсe. Whv?
2. Mary,s mother |ent Mаry some еХpensive jewеl|ery. Ho.WеVеr, when Mary app|ied to hаve it сoverеd by hеr housе-hold insurаnсe poIiсy, the insurаnсe сompany rеf used. Why?
З. Mr. Adаms wаnted to insure the goods in his wаrеhouiefor $200,000, whiсh was the pr iсе at whiсh he сouId se||thеm. Howеvеr, thе insuranсе сompаny to|d him thаt thеyсou|d only insurе the goods for $12O,00O. Whv?
Types of insuranсe poliсy
Written evidenсe of the insuranсe сontraсt is pro-vided in the insuranсe poliсy. If insuranсe is neededat short notiсe, the insurer сan provide the insuredwith a сover note to fulfil this funсtion until the
фtrrовхт*2AOOw0ЕТ}isp qaoas
$*trnвнт гов sшtp,r'*птJesсo JsоowoRтl{ \r/оRт|iоr Aооpg or 6ооps
Сommerсia| Еnql ish
With a floating poliсy, the insured and insurer agreein advanсe on a сertain sum at whiсh the goods areto be insured. The insured сan then make as manУshipments as he wants until this value has beenreaсhed, at whiсh point the poliсy expires.
Mixed poliсy
This is a сombination of the voyage and time poli.сies. The ship and/or сargo is сovered for all voУag-es between two named poгts for a сertain period oftime (for example for all voyages from Liverpool toNew York over a period of one year).
сover note BpelvlеIlнoe стpaxoBoeсBидeтeЛЬстBo
hull poliсy пoлис стpaxoвaния сУдIraсargo poliсУ IIoлис стpaxoвal{I{я гpyзavoyage poliсу IIoлис стpaxoвallия Ira пepeвoзкytime poliсy пoЛис lra сpoкfloating poliсy гeI{epaJIьIIьril лoлиcmixed poliсy смeruaнньrй пoЛис
Еxеrсisе Z. Whаt type of tnsuranсe poliсy Would you usein eасh situation? Justify your answer!
] ' A сustomer in Sr i Lаnkа p|aсed а tr ia| oгder '2. A сompаny in Саnаdа rесеivеd a standing ordеr from
a сompany in Boston.3. A сarpet importer in |tа|y often p|aсes orders with a сompany
in Moroссo. Нowеver. аs sаles fluсtuаtе, the size аnd valueof thе orders tends to vаry аnd is not always prеdiсtаblе.
4. An exporter in -Jаpan wаs offеred a onе-yеar сontraсt tosuppIy goods to vаr ious branсhes of аn Ameriсan сorpora-tron.
5' A famiIy еmigrаt ing f rom Еng|аnd to AustraI iа sеnt mostof their household goods by ship.
X' Mаrrnе Insuranсe.l3з
Types of loss
As far as marine insuranсe is соnсerned, insurersdistinguish between total loss and partial loss.
1. TOTAL LOSS:
(a) Aсtual Total Lоss (ATL)
An aсtual total loss issaid to have oссurredwhen the ship and сargohave sunk and сannot bereсovered.
If the ship disappearsafter leaving thе port orif it is long overdue, thisis also сonsidered to bеan aсtual total loss. If theship then turns up aftera сlaim for ATL has bеensettled, it automatiсallybeсomes the propertу ofthe insurers.
?.
(b) Construсtive Tоtal Loss (CTL)
A сonstrttсtive total lossoссurs 'лrhen the ship orgoods are so badly dam-aged ttrat tlre ёost of rе-pairing them would begreater than their mar-ket value. It also oссurswhen a ship sinks and isleft bесause thе сost of
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Сommerсiа| Еnq|ish
reсovery Would be too high or the risk to human lifetoo great.
2. PARTIAL LOSS:
(a) Partiсular average
(b) General average
Part iсular average oс-сurs when the objeсt in-sured is lost or damagedbeсause of an aссident,suсh as a fire or flood onboard the ship. The lossis borne by the person towhom the objeсt be.longed.
General average oссurswhen the objeсt insuredis saсrifiсed. in order toprevent a total loss; foreхample, goods may be
thrown overboard in order to stop a ship sinking.The loss is borne by all parties - both the ship own-er and the сargo owners.
Еxerсisе 3. What type of |oss wаs this?
1. A ship disаppеarеd whi le sаi l ing through thе Bеrmudа Тri-angre.
2. A ship саrrylng сheаp generaI сargo sank сlose to thе сoastof Frаnсе.
З. Тwo boxеs of goods werе lost overboаrd аs a гesu|t ofbаd wеаther.
4. |п 1912, the supposed|y unsinkab|е Тitаnrс hit an iсebergаnd sank in the At|аnt iс.
5. A ship саrrying or l bаrrеls саught f i rе, аnd thе сrеw thrеw
thе baггеls into the 5еa to prеvеnt an еxploston.
6. Pirаtеs boarded а ship аnd stole pаrt of thе сargo.
aсtual total loss (ATL) действитeльнaяIIoЛIIaя гибедь
сonstruсtive total loss (CTL) кoнстpyктивIIaяпoJIЕIaя гибeль
partiсular average Чaстнaя aвapия
general averagе oбщря aвapия
Questions for rеvision
1. Desсribe some of the risks whiсh сan be сovered
by insuranсe. Why do уou think politiсal risks are
not usually сovered by marine insuranсе?
2. Using your own words, explain the prinсiples of
insuranсe. Whу are these prinсiples neсessarу?
3. What is the differenсe between a time poliсy,
a floating poliсу and a mixed poliсy? Give some
examples of situations where the insured maу prefer
to сhoose one over the others.
4. Desсribe thе two types of total loss and give some
examples.
5. Give some еxamples of partiсular average.
6. What is general average? Whу do уou think it is
fairer for the loss to be borne by all parties?
X' Mаrinе lnsuranсе
Xl. Business organisations
Тhe private seсtorТhe pub|iс seсtorQuеstions for revision
555
Business organisations belong to either the privateor the publiс seсtor. Thе pгivate seсtoг сonsists ofсompanies belonging to private individuals, and thepubliс seсtor of сompanies owned by the governmentof the сountry.
The private seсtor
There are various types of business organisation whiсhoperate in the private seсtor:
1. Sole traders
A business run by a sole trader has just one owner,who is entirely responsible for all the сompany's busi.ness affairs. This type of organisation has сertainadvantages and disadvantages:
The sole traderdoesn't have toсonsult anyone elsewhen making deсi-sions.
The profits do nothave to be sharedwith anyone else.
A solе trader has to bear 100 %оf thе risks inсurred by hisсompanУ.
Foг this rеason' he may havemore diffiсultiеs raising сapital.
A sole tradеr has unlimited li-ability for his сompanУ' whiсhmeans that if he goes bankгupt,hе may lose both his сompanyand his personal property.
1з8 Сommerсia| Еngl ish
private seсtor чaстIrьIй сeктoppubliс seсtor гoсy/цapсTвeliнЬIй сeктopsole trader чaсTIIьIй IIpедIIpиIIиlvIaтeЛЬсapital кaпитaЛ; фoнд; сpeдстBarrn]imited liabil ity Heoгpaничeннaя
oтBeтсTвеI{IloсTь
bankrupt бaнкpoт
2. Partnerships
A business run by a partnership has two or moreowners. When entering into a partnership, an agree-ment is drawn up defining the rights, responsibili-ties and liabilities of eaсh partner, suсh as how theprofits arе to be distributed and what part eaсh part-ner is to plaу in managing the сompanУ. The part-ners may be aсtivе, meaning that they are aсtivelyinvolved in the сompany's business; or sleeрing, whiсhmeans they invest money in the сompany and reсeivea share of the profits, but do not сonсerr.r themselveswith the сompany's business affairs.
There are two types of partnership:. Gеneral or oгdinary partnership, where all part-
ners have unlimited liability.
X|. Businеss orqаnisations
. Limited or speсial рartnership, сonsisting of atleast one general partner with unlirnited liability andat least onе limited partner whose liabilitу is limitedto the сapital he has invested. The limited partnersdo not run the risk of losing their personal propertyif the сompany goеs bankrupt, but neither do theyhave anу say in how the business is run.
partnershipaсtive partnersleеping partnergeneral (ordinary)partnershiplimited (speсial)paгtnershipgeneral partnerlimited partner
ToBapищeстBo; IIapтEepсTвo
aктивньrй УЧaсTLIикпaссивньrй yчaстIIик
кotvrпallия с llеoгpaниченнoйoTBeTстBeнIIoсTьIо
Itoluпaния с oгpaвияeннoйoTвeTсTвeннoстЬIо (ooo)
глaвньrй пapтrrepпapтЕep с oгpaниveннoйoтBeтстBеI{IloсTьIo
3. Joint-stoсk сompanies
From a legal point of view, a joint-stoсk сompanyсounts as a separate peгson, whiсh means that its
shareholders (owners) and direсtoгs (the people сho-sen by the shareholders to run the сompany) onlyhave limited liabilitу. The shareholders eaсh reсeiveone dividend (part of the profit) per share. There aretwo types of joint-stoсk сompany:
(a) Publiс limited сompany (plс)
The сapital for this tуpe of сompany is raised frommembers of the publiс. For this reason' a plс сan belisted on the stoсk exсhange, although it doesn't haveto be. Before it сan start doing business, a plс needsto have a minimum amount of share сapital (in Eng.
1з9
Zz,Ao
Дстtv* Ря*тнвк Slввplнс Р*птнtв
Сommеrсiаl Еng|ish
land for example, i t needs to issue at least f50,000worth of shares).
(b) Private limited сompany (Ltd.)
There are many more private limited сompanies thanpubliс limited сompanies. The shares of a privatelimited сompanУ are held by speсiallу сhosen per-sons or сompanies, whiсh means it сan't be listed onthe stoсk exсhange. However unlike publiс limitedсompaniеs, private limited сompanies don't needa minimum amount of share сapital - it's theoreti-сally possible for a private limited сompanУ to har,ejust one share held bу one person.
joint.stoсk сompanysharеholderdirесtordividendpubliс l imitedсompanystoсk еxсhangeshare сapitalprivate ]iшitedсompanу
aкциo}Iepнaя IсoМIтaния
aкцIIoЕIep; BЛaдe,тeц aкциia
,циpeкTop
диBи.цeн.цoTкpЬIтaя кoluПallия с oгpa-rrичeннoй oтвeтсtвeнIIoсTЬIo
биprкa
aкциoнepньrй кaпитaл
чaстнaя кoNIпaIIия с oгpalrи-чeннoй oTBeтсTBeII}loстьIo(Ltd.)
Thе publiс seсtor
As we know, firms in the publiс seсtor are ownedby the gover]lment, one exaпrple being the post
offiсe. However, in сertain сountries, notably ilrBritain, there is a trend towards ргivatisation оrselling сertain government-owtred organlsations suсhas the railway and telephone сompanies baсk to thе
Х|. Business oroаnisаtions
private seсtor. This has both positivе and negativeaspeсts:
As firms aсtive in these As firms in the pri-privatised industries may vate seсtor are mainlуfind themselves in сompe- interested in makingtition with other firms, it a profit, privatisationis in their interest to make may make сertain ser-tlre serviсes provided more viсes more expensiveeffiсient, whiсh benefits for the сustomer.the сustomer. Neсessary serviсesThe money raised сan bе may not be providedused to reduсe taxes. beсause they aren't
profitable.
Companies in the publiс seсtor have сertain similar-ities to publiс limited сompanies. However, there area few important differenсes:
. While publiс limited сompanies are owned bуthe publiс, publiс seсtor сompanies are owned by thegoveгnment.
. The сhairman of a plс is сhosen by the share-holders, whereas the сhairman of a publiс seсtor сom-panу is сhosen by the government.
. A plс obtains сapital by selling shares, a publiсseсtor сompany by selling stoсks.
. The profits earned by a plс go to the sharehold.ers, the profits earned by a publiс seсtor сompany gobaсk to the government.
. Where the main objective of a plс is to make thelargest possible profit, publiс seсtor сompanies areсreated primarily to provide the publiс with essen-tial serviсes.
141
Сommеrсrаl Еngl ish
privatisation IIpивaти3aцияstoсks (гoсyдapствeнньrе) цeнrrьIe бyмaги
Еxerсisе ]. Whаt kind of businеss orgаnisаt ion might еaсhof thesе bе - а so|е trader, a partnеrship,a pub|iс or pr ivаte l imited сompаny or а pub|iсseсtor сompany?
,1. A sma|| сorner shop.2' А f irm of so|iс i tors.З. Тhе Brit ish Broаdсast ing Сoгporаt ion (BBС) in Br itаin'4. A |аrge сommerсiаl bаnk.5. A publ ishing house.
Quеstions for revision
1. If you were to start a small business suсh as a shop,would you prefer to do business as a sole trader, orwould you go into partnership? Why?
2. Using Уour own words, explain the two types ofjoint-stoсk сompanУ. What do уou think are the ad-vantages and disadvantages of eaсh? Mention someexamples of joint-stoсk сompanies in your сountry.
3. Give some examples of publiс seсtor organisationsin уour сountry. What effeсt do think privatisationwould have on these organisations and on the serviс-es theу provide?
Xll. The stoсk exсhange
SharesFixеd -intеrеst sесU rrtiеsQuеstions for rеVision
555
ХlI ' The stoсk exсhangе
Types of share
There are a number of different types of share:
ordinaгv slraгes
145
As we saw in the last сhapter, shares sold bу publiсlimited сompanies сan be listed on the stoсk eхсhange.The stoсk exсhange is the сetrtге of tliе сapital mar.ket, where large quantities of сapital are raised forсompanies and the governmelrt. This сapital is raisedin two ways:
. By selling shares to investors, whiсh means thatthe investors beсome part-owners of the pubiiс li-пrited сomрany in question.
. Bу obtaining loans from investors, in t}re formof government stoсks and debentures.
These shares and loans arе сollесtivеlу known aS se-сurities. Thе stoсk exсhange itself doesn't own anУseсurities; it is simply the market where seсuritiesare bought and sold.
сapital markеt pьIнoк }сaIlитaЛagovеrnnrent stoсks гoсyдapсTBeнньIе цеI{IIьIе
OyуIaгиdebenture .цoлгoBoe oбязaтeльствo;
o0ЛигaцIIя
sесurities ценIIьIе бyмaги
Sharеs
The stoсk exсhange itself isn't open to ordinary in.vestors; instead, tlreу have to buy shares via a stoсk-bгoker. Many banks and finanсial institutions offerthis sеrviсe in return for a сommission.
Prefeгenсeshares
Cumulativepreferenсeshares
T'irese are thе most сommonshares, also known as equities.The ordinary shareholders bearthe largest part of the risk, butthe гeturns сan be muсh higherthan with other forms of invest-ment. Ordinary shareholders areentitled to one vote per share,whiс]r gives thеm more saУ in therunning of the сompany; but theamount of dividend they reсeive(1f any) is determinеd by theсonrpany depending on how muсhprofit has been made.
These shares have a fixed divi-dend whiсh must be paid beforethe ordinary shareholders сan re-сeivе their dividend, whiсh gua-rantees a return on investrnent aslong as the сompany is makinga profit. However, if the сompanydoesn't make a profit, the prefe-renсe shareholder will not be paidhis dividend either. Unlike theordinary shareholder, the prefe-renсe shareholder is not еntitledto vote in сompanу matters.
This is a speсial сlass of prefe-renсe share whiсh offers a saferretnrn on investment. This is be-сause if thе сolrrpanУ сannot paythe dividend one уear, the out-starrding amount is сarried over
Сommerсiаl ЕngIish Xl l . Тhe stoсk eхсhange
Convertiblepгeferenсeshares
to the following years. That meansthat rathеr than losing his divi-dend in a year where the сompanyruns at a loss. the shareholder сanexpeсt to reсeivе it one or moreyears iater along with the divi-dend from the following years.
This is another type of preferenсeshare whiсh pays a fixed rate rateof interest until a сertain time.After this time, it is сonvertedinto an ordinary share on whiсhthe holder reсeives a dividendrather than intеrest.
. Bulls buy shares expeсting priсes to rise.
z{-\--*'
iш)у
Г"--г*5"4dt*-'{
. Bears sell shares expесting priсes to fall.
stoсkbroker биpжeвoй MaIсЛеpordinarу sharеs, oбьrчньrе aкЦvII4 (бeз фик-equities сиpoBaIIIIoгo дивидeндa)returns пpибьrльpreferenсe shares ITpивилeгиpoBaIIнЬIе
aIсциисumulativе preferenсe нaкolIитeлЬIIьIe IIpиBиЛe-shares гиpoвaIIIIЬIe aкциисonvertible preferenсe кolIвepTиpyelvrьIe пpиви-shares лeгиpoBaIIньIе aкции
Sharе priсes
If shares in a partiсular сompany beсome more po-pular, the share priсe will rise. This сan happen whenthe eсonomy is booming or the сompany's profitshave inсreased for whatever reason.
People aсtive in buying and selling shares on thestoсk market are known as speсulators and fall intothree сategories:
. Stags buy newlу issued sharestion that priсes will гise, then sellhope of making a quiсk profit.
dР; 'D ' l
\idin the expeсta-them on in the
What is a share index?
The stoсk market of eaсh сountry has one or moreshare indiсes. A share indeх is a representative group
't48 СommerсiaI ЕngIish
of shares сhosen as a barometer of the movement ofthe market as a whole. This is usеful for investorswishing to see how well their shares are doing оom.pared with the rest of the market. Examples of shareindiсes inсlude:
. FтsE 1oo: the 100 largest сompanies listed onthe British stoсk exсhange.
. Dow Jones Industrial Avеrage: сonsists of30leading industrial сompanies in the US.
. NIккEI 300: the top 300 shares on the Japa-nese stoсk market.
speсulator биpхсeвoй.цeлeц'биpжeвикbull бьrкbеar }IeдвeдЬstag oЛeIIьshare indeх иIIдекс aкций
Fiхed.interest seсurities
As we have seen, another way of earning moneУ onthe stoсk exсhange is bу making loans to larger сom.panies or to the government in the form of fixed-interest seсurities. Logiсally enough' holders of fixed-intеrest seсurities are paid a fixed rate of interest,and suсh seсurities сan be bought and sold like shares.
Loans made to joint-stoсk сompanies in this waу areсalled debentures; loans made to the government areсalled government stoсks.
Debentures
Unlike shareholders, debenture holders are not mem-bеrs of the сompany in question. They do not share
Хl|. Тhe stoсk exсhangе 149
the members' risks; they reсeive a regular inсotne fromtheir investment and take preсedenсe over the sharehol.ders if the сompany is liquidated - that means, deben-ture holders are paid before shareholders. This makеsdebentures a relatively safe form of investment.
Мost debentures are seсured, registered and redeem-able:
Seсured If a сompanУ сannot repaу the loansdebentuгes or pay the interest, the holders of
seсured debentures (also known asmortgage debentures) are automati-сallу entitled to payment frotn theсomDanv's assets.
Unseсureddebentures
Registereddebentures
Holdеrs of unseсured dеbentures (alsoknown as naked debentuгes) are notautomatiсallу repaid from the сoпi-pany's assets if the сompanУ is un-able to pay in the usual way. Theусan of сourse go to сourt to reсovertheir moneу, but are not treated dif-ferently from the sharеholders. Anunseсured debenture is basiсallу nomorе than a promise to repay a loan.
The holders of registered debenturesare listed in a сompanУ register.These debentures сan onlу be trans-ferred in aссordanсe with сertainterns and сonditions, and everУtransfer must likewise be enteredinto the register. The сompany сanrefuse a transfer, in whiсh сase theperson to whom the debenture was tobe transferred сan appeal against thedeсision.
A bearer debenture is an unregis-tered debenture whiсh сan be nego-tiated by just handing it over to thenew holder.
Redeemable debentures are repaid(redeemed) on a fixed date orwithin a сertain periоd, often a|a higher priсe than the issue priсe,whiсh means some extra monev forthe holder.
There is no fixed date for the re-payment of irredeemable deben-tures; the loan is only repaid whenthe сompany is liquidated. How-ever. holders of irredeemable deben-tures may ask the сompany to re.dееm them if it fails to keеp up itsinterest payments.
Convertible debentures сan be eх-сhanged for ordinarу shares.
Х||. The stoсk еxсhange 151
irrеdeemablе debenture бeссpoннoедoЛгoвoeo0я3aтeJIЬствo
сonvertiblеdebenture кoIIвepTиpУeМoедoЛгoвoeooя3aтеЛЬстBo
Govеrnment stoсks
In Britain, government stoсks are known as gilt.edgedseсurities (gilts) bесause they are suсh a safe formof investment. Gilts are loans made to the govern-ment in order to finanсe its spending, and are repaidat a fixed futurе date (at maturity). In the mean-time, the gilt holder reсeives interest on his loan'The interest reсeived on gilts is known as the сou-pon. Gilts fall into three сategories depending on thedate of maturity:
. Shorts: Gilts to be redeemed in 7 Уears or less
. Мediums: Gilts to bе redeemed in a periodof 7 to 15 years
. Longs: Gilts to be redeemed morе thаrr15 vears from the date of issue.
Tуpes of gilt
Index-linked gilts These are gilts rшhere the сou-pon and the amount at whiсh thegilts are redeemed is linked toinflation.
Floating rate gilts The сoupon paid on these giltsvaries depending on market сon-ditions.
Convertible gilts When a сonvertible gilt reaсhesmaturity, the holder сan deсidewhether he wants to have thegilt redeemed or to exсhange itfor a new gilt.
Сommегсiа| Еngl ish
Bearerdebentures
Redeemabledebentures
Irredeemabledebentures
Convertibledebentures
to liquidate a сompany
seсured (mortgage)debentureunsесured (naked)debentureregistеred dеbenturе
appealbearеr debenture
redeemable debenture
ликвидиpoвaтЬкorvlпaIIиIooбeсшeчeнrroe .цoЛгoвoеoбязaтeльствoнeoбeспeчellнoe .цoдгoвoeoбязaтельствoиплeнIIoe .цoJIгoBoеoбязaтeльствoaпeлЛяциядoЛгoвoe oбязaтeльствoIIa пpeдъяBL1TeJIЯ'
,цoлгoBoe oбязaтeльствo,цoгaIIIaеNIoe в oпpeдe-лeнньrй сpoк
Сommerсiа| Еngl ish Хl|. The stoсk exсhаnge
gilt-edged seсurities(gilts)сoupon
shorts
mediums
longs
index-linked gilts
floating rate gilts
convertible gilts
гapallтиpoBaI{IIьIe цeнньIeбyмaгикyПoII; дoxoд пo цeнIIЬIlvlбумaгaм
кpaTlсoсpoчньIe цеIIньIебyмaгисpeдIreсpoЧIIЬIe цеIlIIьIeбyмaги
дoЛгoсpoчHьIe цеIIIIьIe
бyмaги
цeI{IIьIe бyмaги, yчитЬIвa.
Iощие ypoBeгIь инфляции
цeнньIe бyмaги с плa-
BaIoщиtI lсypсolvl
кolrBepTиpyeIvIЬIe цeнньIeбyмaги
Quеstions for revision
1. What is the stoсk eхсhange and what is its funс-tion? Where is it loсated in your сountry?
2. Whiсh type of share do you think offers the mostadvantages to the investor and why?
3. What do you understand bу ..bulls'' and ..bears''
on thе stoсk market? What faсtors do you think in-fluenсe this type of behaviour?
4. What is the differenсe between shares and deben-tures? Whiсh do you think is the safer form of in-vestment and why?
5. Whiсh is the safest type of debenture for the in.vestor and why?
6. What are the differenсes and similarities betweendebentures and gilts? Whiсh is the safer form ofinvestment and whу?
7. What is the differenсe between floating rate giltsand indеx-linked gilts?
Glossary Еnglish to Russian
Ato aссept - IIpиIIип[aтЬ; aкцeптиpoBaтЬaссeptanсe (bill of exсhange) - aкцeIIT (вeксeля)Aсt of God - стиxийнoe бeдствиeaсtivе partner - aктиBIIьIй пapтнepaсtual total loss - действитеЛЬнaя IIoлнaя гибедьadjustment (of a сomplaint) - ypeгyлиpoвaние (спopoв,
кoнфликтoв); пoпpaвкaadmissible - paзpeшeнньlй (к ввoзy)ad valorem duty - пoIIIлиIIa ad valorem (взимaeтся B rrpo-
цeнтIIoМ oтнoшIeIIии к сToи1!!oсTи тoвapa)advanсe order - ПpeдBapительньrй 3aкa3to advertise - peкJlaмиpoвaтьadvertisеmеnt - pекдaМaadvising bank - бaнк, пpoизвoдящий BьIПлaтУ пo aк-
кpeдитивyagent - aгeнт; IIpедсTaBиTeльairlinе - aвиIaJIvIHИfl'air waybill - aBиaгpytoвaя IIaкдatIIaяambassador - пoсoЛto appеal against - Iloдaвaть aпeлЛяциIо IIpoтивATL - см. aсtual total lossavailable - ипIeloщиilcg' в lаaличииavailability - EtlЛичиe
Bbalanсe - бaлaнcbank aссount - бaнкoвский счетbank сodе - бarrкoвский кoдbankrupt - бaнкpoтbear (stoсk exсhange) - (MeдBe.ць> (биpжa); биprrсeвoй
дeЛeц' игparощий I{a IIoЕиEсeниebearer сheque - чeIс IIa пpeдъявитeЛяbearer debеnture - oблигaцИЯ' |la пpeдъflвитедfl
156 СоmmеrсiаI EnqIish
bеnеfiсiary - бенефициap; пoЛУчaтель сpeдсTвbilatеra] - двустopoннийbil l of exсhange - BексeдЬ' тpaттabinding offеr - TвepДoе пpeдлoхtelrиeblank endorsement - блaнкoвьrй ин.цoссaпreнтbonded warehouse - TaМo)fiellньrй склaд ддя хpaнeния
ToBapoB .цo УпЛaтЬI пoIIIЛиIIьI
bond warrant - дoкуryIeнт o xpaнellии Toвapa нa TaMo-
}ttеItl1oМ скЛa,цe
bordеr - гpaницabreaсh of сontraсt - нapyшellие кoнтpaкTabulk сargo - нaсЬlllнoй гpузbulk disсount - oптoвaЯ ски.цкabulk order - oптoвьrй зarсaЗbulky саrgo - гpoмoздкий гpyзbull (stoсk exсhangе) - <.бьIк'> (биpжa); биpжeвoй дe-
Лeц' игpaющий нa пoBьItueIIиеbuуer - пoкУпaTель
сCAD - см. сash against doсrrmеrrtsсapital - кaпитaлсapital nrarket - pЬIIIoк кallитaЛato сanсеl - oTМeIIятЬ; alllryЛиpoвaтЬ; IIpизIraBaTЬ нeдей.
сTвитeЛЬ}IЬIМ
сargo - гpyзсargo poliсy - пoлис сTpaХoBaIIиЯ гpyЗаCarriage and Irrsuranсe Paid - rreрeвoЗкa и стpaxoвal{иe
oIIЛaЧeньI
Carriage Paid To - пepеBoзкa oплaчeнa .цoсarrier - пepeвoзЧик; тpaнсПopтI{aя кolvIпaIIиясash against doсuments - ollЛaтa ПoсЛe пoЛyчel{ия дo-
кyМeнToвсash disсount - скидкa пpи ollЛaтe IIaЛичItьIlvIIulсaslr dispensеr - бaнкoмaтсash on dеlivery _ oплaTa IIpи пoсTaвке' ((пс} фaкту'>сash with ordеr - oпЛaтa Цpи зaкaзeсentral bank - цеIrтpaЛЬI{Ьlй бaпксеrtifiсatе of origin - сеpтификaт пpoисxo}fiдeниЯ
GIossаry
сF'R - см. Cost and Frеightсhain of distribution - сеть peaлизaцииChamber of Commerсe - Topгoвaя Пaдaтaсheque - чeксhеque stub _ кopеIIIoк; (oтpьrвнoй) тaлoII; квитaнциясIF - см. Cost, Insuranсe and FreightсIP - см. Carriage and lnsuranсе Paidсirсulation - oбpaщeниeсlaim - пpeтellзиЯ; pеIсЛa}raция; хсaлoбato сlaim - пpeдъ'flBJIятЬ цpeTeнзииto сlaim damages - тpeбoвaтЬ Boз}IeщеIlия yбьrткoвсlean bill of lading - чистaя IIaклaдIIaяto сlear goods through - paстaмo)кIrть гpyз; пpoвoдитЬ
сustoms - тa1vro}rсeн}IуIо oЧистIсyсMR - см. intеrnational сonsignment noteсoD - см. сash on deliveryсolleсting bank - бaнк-пoлуuaтeЛьсommerсial bank _ кolvIмepчeский бaнксommerсial invoiсe - TopгoBЬIй сveт-фaкTypa; IсoМlltеp-
чeский инвoйссommerсial serviсes - кolutvlepческиe yсJIУгисommission - кoMиссияto сommission - УIloЛIloluoчиBaть; дeлaTЬ зaкaз; BBoдиTь
B дeйсTвиe (нaпp., oб oбъeктe)' сдaBaть в эксIIлУaтaциIoto сompensatе - кoмпeЕсиpoBaTьсompensation - кolvtпeнсaцияto сomplain - oбжaлoвaтЬ; IIoдaBaть rкaлoбyсomplaint - rкaлoбa; aпeЛЛяция; IIpeтeIIзия; peклaмaциясompound duty - сIvIеIIIaEItaя IIoIIIлинato сonclude a сontraсt - зaклIoчaтЬ кoIlTpaIстсonfirmation - IloдтBeprrсдelrиeсonfirmed - пoдTBepэкдeнньrйсonfirming bank - бaнк, пoдтBepхс.цaЮщий aккpeдитивсonsignee - гpytolloлучaтeль; I{ol{сигЕaтopсonsignment - пapтия (тoвapa), гpyз; кoIrсигI{aциoнIIaя
oтпpaBкa ToBapa; нaкЛaдI{aясonsignor - гpytooTllpaвитeJlЬсonstruсtive total loss - кorrсTpylсTивнaя пoлнaЯ mnбeJlЬ
157
158 Сommеrсial Еngl ish
сonsul - кoнсyЛсonsular invoiсe - кoнсyльcкvтiт инвoЙcсonsulate - кoIlсУЛьсTBoсonsumer - пoтpебительсonsumеr serviсes - IIoTpeбиTeJIьскиe УсЛyгисontainer - кoнтeйнepсontainer bill of lading - нaкЛa.цнaя IIa пpoвoз тoBapoB
в кoнтейнepeсontainerised goods - тoвap (гpyз) в кoнтeйнepaxсontгaсt - кoнтpaкт; .цoгoвoр' сoглaIIIеIIиeto сonvert - кoIIBepтиpoBaTьсonvertible debenture - кolrBepтиpУeмaя oблигaциясonvеrtiblе gilt - кoнвepтиpyeмьre цeнньrе бyмaгисonvertible preferenсe - кoIrвepTиpУeNIьIe
shares - ITpиBиЛeгиpoBaIIIIьIe aкциисost - сToI4мoсTЬ; paсxo/цCost and Frеight - стoиlvloсть и фpaxт (yкaзьrвaешraя
пpoдaвцoм сToиMoсть Toвapa' вItЛIoчaIoщая eгo дoс-тaBкУ B oгIpедеЛeнньlй пopт)
Cost, Insuranсе and Frеight - сToиMoсTь' стpaxoBкaи фpaхт (yкaзьrвaeмaя пpoдaBцoNI стoиNIoсть тoвapa'BкJIIoЧaIoщaя eгo дoстaBкy B oпpе/цeдeнньrй пopти стpaxoвaниe)
сoupon (stoсk ехсhange) - кyпolr; нolvlинaЛьньIй пpo-
цeнтньrй дoxoд пo oблигaцИvl' aь<Цv|vlсover (insuranсe) - пoкpЬIтиe (стpaxoвoe)сoverеd - цoкpьIтЬIй, oбeспeченньrйсovеr note - Bpeмelrнoe стpaxoвoe сBидeтeЛьстBoсovert - скpьrтьrйсPT - см. Carriage Paid Toсredit - кpeдитсredit сard - кpeдитIlaя lсapToЧкaCTL - см. сonstruсtive total lossсumulative prеferenсe shares - нaкoпитeдЬIIьIe IIpиви-
ЛeгирoвaIIнЬIе aкциисurrеnсУ - BaлIотaсurrent aссount - текyщий снeт
Glossary
сustomer - 3акa3чиксustoms - тaмo?t(IlЯсustoms invoiсе - тaN[o}ItеIlЕIaя IIaкЛaдIlaя: тaмo)Ideнньrй
инвoйссustoms permit - тaпIoхteннoe paзpeшellиеCWo - сшr. сash with order
DD/A - см. doсumеnts against aссеptanсeDAF - crvr. Delivеred at Frontierdamage - пoвpe}к/цениedamages - IloBpe}кдeниe; yщepбdangerous goods notе - yвeдoшrдelrие oб oтгpузкe oпaс-
IIoгo гpy3adate bill - BeксeлЬ с yкaзalrнoЙ taтoiа oпЛaтЬIDDP - см. Delivеrеd Duty PaidDDU - см. Dеliverеd Duty Unpaiddeadline - (кpaйний) сpoкdebenturе -дoЛгoвoe oбязaтeдьствo; oблигaцияto debit - дeбетoBaтЬdebt - дoлгto dесlare goods - дelсЛapиpoвaTь тoBapto deduсt - BЬIчитaть' oтI{иNIaтЬ' yдеp)I(иBaтЬto defеr - зaдеp}rсивaTьdеferment - 3aдep}ккa; oтсpoчкadelay - зaдep?ккaDеliverеd at Frontier - дoстaBкa дo гpalrицьr (теpмин,
oбoзнauaroщий, uтo oTBеTствeннoсTь пoсTaBщикa paс-пpoстpallяeTсЯ тoЛЬIto нa /цoстaBкy to тaшloхсeннoй<(гpaIIицЬID сTpaIIьI нa3нaчеIrия)
Delivered Duty Paid - oплaчella дoсTaBкa и пoIIIлинa(yслoвиe Inсoterms, IIpи ltoтoporvl oTветствeннoсть пpo-
дaBцa 3aкaЕЧI4Baeтся IIoслe тoгo' кaк тoBap ,цoстaвлeltв yкa3al{Цoe Meстo B стpaнe пolсyпaтeля; всe pисItи'
Bсe paсxoдЬI пo дoсTaвкe гpyзa (нaлoги, пoIпЛиIlьIи т.д.), oтвeтстBeIIнoстЬ 3a IIopчУ и пoTeplo тoBapa'вкЛIoЧaя пOIIIЛиIiЬI и пpoчиe вьIIIЛaTьI' BЬIпЛaчиBae-МЬIe при импopTe' Дo этoгo luoМellтa нeсeT пpoдaBец)
159
160 Сommerсia| Еng|ish
Delivеred Duty Unpaid - oплaчеIla.цoсTaвкa бе3 цoцIЛи.IrьI (yсЛoBиe Inсoterms, Ilpи кoтopoМ oтBeтсTвeннoстЬпpoдaвцa 3aкaltчиBaeTся пoсЛe тoгo' кaк тoвap дo-стaBЛelt в yкa3aннor NIестo в сTpaIIe пoкУпaтеЛя; Bсepvlcl<И' всe paсxoдьI пo дoстaвкe гpy3a' oтвeтствell-нoсть 3a Ilopчy и пoTеplo тoвapa (зa исклrоvellиeМ IIoпI-ЛYIrt v| цpoчих BьIпЛaт' BьIIIЛaЧиBaervrьIx IIpи импopтe)
дo этoгo пloмeltтa несeт пpодaвeц)
Deliverеd Еx Quay - дoсTaвкa }с пpичaлy (yслoвиe
Ilrсoterlrls, пpи кoToрoМ oтBeTствeIIнoстЬ пpoдaBцa 3a-ItaIIчивaеTся пoсЛe Toгo' кaк ToBap пo пpибьtтии в
укaзaнньrй ПopT paзгpУrttelr и IIoдгoтoBЛеII к Bвoзy;все paсхoдьI пo дoсTaBкe гpyзa (нaлoги, поIIIJIиIIЬI ит.д.), oтветстBеI{IIoсTЬ 3a I]opчy и lloтepю ToBapa дoaтoгo Мoмeнтa нeсет IIpoдaBец)
Dеlivеred Еx Ship - дoстaвЛeЕo с кopaбЛя (yслoвиe
Inсoterms, IIри l{oтopolvl oтветствeIIнoсTЬ Ilpoдaвцa 3a-кaнЧивaeтся' кoгiцa кopaбль с тoвapoМ нa бopтy пpи-бьrл в yкaзaнньrй пopт (тoвap нe paзгpylrсell и нe пoд-гoToвдeн к вBo3У); Bсe paсхoдЬI пo дoстaвкe гpyta'oтBeTствеIIItoстЬ 3a пopЧy и IIoTеpIo тoвapa дo этoгoluoМеIlтa несет пpoдaвeц)
delivery - дoстaBкadeliverу ordеr _ 3aкa3 IIa пoстaвкУ; opдеp Еa вЬI/цaчy
тoBapa сo скЛа.цa
deliverу time - сpott пoсTaBки
demand - спpoсto deposit - дeпolrиpoBaть; Bклa.цЬIBaтЬdeposit aссount - дeпoзиTньrй счeт
DЕQ - см. Dеlivered Еx QuaуDЕs - см. Delivеrеd Eх StripDGN - см. dangеrous goods notedireсt dеbit - пpя1vtoe дeбeтoвaниedireсtor _ диpeкTopdirty Мate's Reсeipt - шIтУpмaLIскa'{ paсписIda o ToМ'
чTo гpУ3 I{e в пopядкedisсount - сItидкa
GIossаrV 161
to disеount a bill of еxсhange - пpиIIяTь вeксeЛь с дис-кoнтolvl
to dishonour a сhequе/bill of - oTкaзьIвaть в oпЛaTeЧeкa/BексеЛя
exсhange - биprкato disсount a bill - IIpинять вeксeлЬ с дIrскoIlToIvIto dispatсh - oтпpaBЛятьto dispose of - избaвлятЬся (oт); сбьrвaтьdividend - ,циBидeIIдdoсument of title - дorсУMeIIт, дaroщий пpaBo сoбстBeн-
IIoсти
doсumentary сredit *,цoкyшIelrтapньlй aккpе,цитив
doсuments against aссeptanсe - ,цoкyNIeIrTьI Пo IIpиIrя-
тиIo; Ilеpeдaчa пpaBa сoбствeнrroсTи пoсЛe Iloлyчeния
чeкa к oпЛaтedoсuments against paуment - дoI(УпIeнтьI IIoсЛe oпJIaTьI
domеstiс - oTeчeстBеIlIIoгo пpoизBoдсTBa
down payment - пpeдollлaтa; aBaIIсoBЬIй плaтerк
D/P - см. doсuments against payment
draft - плaтe}itЕoe IIopyчeIIиe
to draw (сheque, bill of exсhange) - вьIписьIвaть (ueк,
вeксель)
drawеe - тpaссaT; Лицo' нa }сoтopoе вьIписaII чeк иЛи
TpaTтadrawеr - тpaссaIIT; Лицo' пoдIIисaBIIIеe чeк
dumping - дeМIIиIIгdutiable - oблaгaeмьrй пorrrдинoй
duty - пoIIIЛиIIa
duty-frеe - беспorплинньrй; нeoбдaгaемьrй пorплинoй
Ееarly payment disсount - скидкa 3a пpедoITJIaтyembassy - пoсoлЬсTBoto endorse - индoссиpoвaTЬ; дeЛaTь IIеpe.цaтoчIIУIo
нaдIIисЬ
endorsement - ин.цoссaмeнт' IlеpeдaтoчItaя нaдпись (нa
цeннoй бyмaгe, BeксeЛe' чeкe и T.II.' IIoдтBep)кдaIo-
щaя пepexoд IIpaв пo эTofoIy дoIсyмeIrTУ Iс дpУгol\[У ЛицУ)
6 - 10686
162 Соmmеrсiаl Enql ish
end-usеr - кoIleчIIЬIй пoльзoвaтeлЬ; ItoIIeчIrьIй пoтpeби-тeль
to enquire - зaIIpaIIIиBaтЬ' нaITpaBл,IтЬ зallpoсenquirу - зaпpoсеquities - oбьtкнoвeнIlЬIe aкцииevidenсе - дoкaзaтeлЬствo' свидетeЛьстBo' tIoдTвер}ItдеIIиeexсise duty - aкцизньrй сбopto exeсute an order - вЬIпoлI{ятЬ зaкatto expire - истeк'aтЬеxpirу date - дaтa исTечeтIия сpoкaexport dutу - эIссrropтIlaя IIoIIIЛиIlaexporteг - экспopтepехprеss train - скopoстнoй пoeзд; эксIIpессto extend - пpo,цЛeBaтЬextraсtive industrу - дoбьrвaтoщaя пpoNrЬtIIIЛeIIнoсть
(oтpaсль)ЕxW _ см. Ех WorksЕx Works - фpaнкo-зaвoд (yслoвиe Inсoterms, пpи Iсo-
тopoM oтBeтстBeIIнoстЬ IIpoдaBцa 3aкaнчиBaeтся' I(oг-
дa тoвap oкa3aЛся Еa eгo скЛaдe' Nlaгa3иЕe и т.д.; Iiaпoкyцaтeля Лo}fiaTся всe paсxoдьI IIo BьIBoзУ тoBapaсo склaдa' пepеBoзI(е' тaМortсerrlloй oчиbткe и т.д.)
Ffaсtory - зaвoд; фaбpикaFAS - см. Free Alongside Shipfaulty - IIeисITpaвньrй; нeкaчeствeнньrйfavourable - блaгoпpиятньrйF.CA - см. Free CarrierFCR - см. Forwarding Agent's Certifiсate of Rесeiptfеeder serviсe - слyrкбa дoстaBкиfinished goods - гoтoвьrй тoBap' пpoдylстfirm offer - TBepдoe пpeдлo)I(ellиеfirm ordеr - твepдьrй 3aкa3first of exсhange - пepвьrй экзeMIIляp вeкселяfixed duty - фиксиpoBaнЕaЯ пoIIIЛиI{afixed.interest seсurities - цerrIIЬIe бyмaги с фиксиpo-
вarrнoй дoxoдIroсTьIo
GIossаry 16з
fixеd.term aссount - сpouньrй сueтfloating poliсy - гeIIерaлЬньIй пoлисfloating rate gilt - цeEI{ЬIe бyмaги с ПЛaвaloщиM l(Уpсoшrto fluсtuate - кoлебaтьсяFoB - сwr. Frеe on Bоardfollow-up ordеr - пoследуIoщий зaкaзforeign - иIIoсTpaнньIй, зapубerкньrй; мeэк.цУнapoДньrйforged - фaльшrивьrй, пoддельньrйforgery - N[oIЦeнничeстBoforwarding agеnt - экспeдитopForwarding Agent's Cеrtifiсate of Reсeipt - aкт пpиеlvl.
Iси экспe.циTopoMfragile - xpyпкийFree Alongside Ship - <фpaнкo BдoЛь бopтa сУдIIaD;
yсЛoвиe Inсoterms, пpи кoтopoм oTвeтсTBеItнoстЬ IIpo-
дaвцa зalсaltчиBaeтся' кoгдa тoвap пoдгoтoBЛeII к Эк-сIIopтУ и IloгpУ}ttен нa кopaбЛЬ в УкaзaIrIIoM пopтУ;с этoгo l\{oМeнтa вcе paсxoдьI и pиски' a тaк}Iсe oт-вeтствeltнoсTЬ 3a пopчУ и пoTеplo тoвapa нeсет пoItУ.пaтeлЬ
F'reе Carrier - свoбoдньrй пеpeвoзчиIс; фpaнкo-тpaнс.пopтIloе сУ/цнo
Рrее on Board - <.фpaвкo бopт суднa>, ФoБ; yсЛoвиеInсotеrms, пpи кoтopoМ oTBeтстBеIlIIoсть Ilpoдaвцa зa-IсaIIчиBaеTся B rvIoNIeIIт IIoгpУ3ки пoдгoтoвлеIlltoгo к эк-
спopтy ToBapa нa бopтfгеight - фpaxт; гpyзfrontier - гpallицato fulfil - вьIгIoдIIятЬ: I{спoдIlятьfull endorsement - ,пoлньrй иIIдoссaNIeIIт
Ggeneral average - oбщaя aвapияgeneral сargo - смeцraнrrьrй гpyз; сбopньrй гpyзgеneral еnquiry - oбщий зalIpoсgeneral partner - гдaвньrй Ilapтнep; гelrepaЛьIlьIй пapтпepgeneral partnership _ }сOMIIaIIия с IIeoгpaIIичeнIIoй oT-
веTсTвeЕI1oстьIo
164 Сommerсiаl Еnql ish
gilts - см. gilt-edgеd seсuritiesgilt-edged seсurities - цeullЬIe бyмaги с гapalrтиpoBalr-
нoй пpибьrльrogoods train - тoвapньrй Пoе3дgovеrnmеnt stoсks - гoсУдapсTBeнIIьIе цeЦItьIе бyмaгиto grant - пpeдoстaвлятЬgrouрage bill of lading - сбopнaя нaкЛЯ,I(нaflgrouped сonsignment - сбopньrй кoнoсaмeпт; сбopньrй
гpy3
нhaulage сompany - кoNrпaIIия IIaзe}rньIx пepeBoзoкhiddеn renrinder - скpЬIтoe нaпolvlинal{иehire purсhase _ пolсУIlкa в paссрoчкyhome-produсed goods - тoвap oтeчествeнIloгo пpoизвoд-
стBato honour a сheque/bill of exсhange - IIpиIrять нЁк/вeк-
сeль к oIIЛaTehouse bill of lading - вIlyтpeнняя IIaкЛaдIIaянP - спr. hire purсhasehull poliсy - пoЛис стpaxoBallия сyдIIa
Iimport dutу - пoIIIЛиIIa нa иMIIopтimportеr - иIvlпopTepto impose duty - oбдaгaть пorплинoйin bond - нaxoдящvltlcя нa TaмorrterrIloпir скЛaде; IIeрaс-
тaмorкeнньrйinсotеrms - тepшIиIlьI' oпpeдeЛяЮщиe yсЛoвlrя IToсTaвки
и NIoмeIIт пepexota oTBeTсTBeIIIroсти oT сTopoIrЬI It стo.poliе' o п pеделeнЕЬIe Mе}t(.цyнapoд Il ьIlll сoглalцениelvI
indemnity - гapal{тия oт yбьrткoвindex-linked - yvитьrвaroщий ypoBelrЬ инфляцииindustrial dispute - кorrфЛиктьI в IIpolvIЬIIIIЛeIIнoстиinferior _ tlplзl<пЙ (o кaнeствe); плoxoй, нeкaчeствeнныйinflation - инфляцияinitial order - пepBoltaчaльньrй зaкaз
GIossаry 165
injured party - IIoTеpIreвIIIaя (пoстpaдaвшIaя' пolteсtuaяyбьIтки) стopoнa
inspесtion order - иIIсIIекциoнньrй opдepinstalment - B3IIoс; BкЛaд; IIЛaтe}кinsurable inteгеst - стpaxoBoй интepeсinsuranсe - сTpaxoBallиe; стpaxoBlсainsured - зaстpaxoвaнньrйinsurеr - сTpaxoвaтeЛь' сTpaxoвщиrtinterest - пpoцeнTьr (пo aкцияlvl; нa кaпитaл)interest ratе - пpoцellTlraя стaвкainterrnediary - пoсpeдIIиI(international сonsignment notе - Nle}rсдУIlapoднaя гpy.
3oвaя ЕaIслaдIIaяinvalid - lrедейсTвительньrйinvеstment _ иIIвeсTици'Iinvestmеnt aссount - иIIBeстициoнньrй счeтinvitation to tеnder - oбъявлеIIиe тelrдepairrеdеemable dеbenture - бeссpoчIloе дoлгoвoе oбязaтeJrь-
сTвoirrevoсable - безoтзьrвньrйto issue - BьIдaвaTь (o нeкe); BЬIIIУскaтЬ (oб aкцияx)issuе priсe - BЬIIIyскнaя цeIIaissuing bank - бaнк-эмитeнт
Jjoint-stoсk сompanУ - aкциorrepнaя кoМпaIIияto justify - oбoснoвьrвaть
Llabour сosts _ тpyдoвЬIe зaTpaтьIlеase - apeн.цa; 'цoгoBop apeн,цьIleasеholder - apетrдaTopleasing - Ли3иI{г; ape}Iдato legalise - JIегaЛизoBaтЬlegal tender _ зaкoннoe плaтеJttIIoе сpeдсTвolegal proсеedings _ сyдeбнoe paзбиpaтeлЬсTвo; paсс}IoT.
pelrиe дeЛa B сУдelesseе - apеIrдaтop
167166 Сommеrсrа| Еnql ish
lessor - apellдo,цaтeлЬlettеr of сгedit - aккpe.цитиBliability - oTBeTсTвeIIнoстьlife insuranсe - стpaxoвallие )IсизItиlimited partner - пapтнep с oгpal{ичеrrнoй oтвeтстBеII-
IIoстЬIо
limited partnership - oбщeсTвo с oгpalrичelrнoй oTвeт-стBeнIIoсTьIo
limited stoсks - oгpallичeнньrй зaпaсliner - Лaйнeptо liquidate - ЛvIPiB|4t|4poBaTьto load - гpyзитЬloan - ссy.цa; 3aеМlongs - дoлгoсpoчIlьIe ценньIe бyмaгиloss - yбьrтoк; пoтеpяluxury goods - пpeдМеTьI poскoIIIи
РImail order сompanУ - IIoсьIJIoчнaя кolvIпaIIия; IdoшrIIa-
Ilия IIoсЬIЛoчнoй TopгoвJIи; IсoNIпaIIия' 3al{ип4aloщaя.ся llpoiцaжeй тoвapoв IIo тIoчтe
manufaсtuгing industry - ПpoизBoдстBo (кaк oтpaсль)marked сheque - чeк с гapalrтиeй oплaтьrmarine insuranсe - Мopскoe стpaxoBaние; стpaxoвalrиe
Мopскиx пepeBo3oкMate's Rесеipt - штypNIaI{скaя paспцскamaturity - дaтa/сpoк BьIIIЛaTЬImediums - сpeдIIeсpoчIIЬIe цeнIIЬIе бyмaгиmerсhandise on сall - тoBap пo тpeбoвaниrоmixed dutу - сMeшIaпIIaя пoItIлиIIamixed poliсy - сNlerrlaнньrй стpaxoвoй пoлисmortgage - зaЛoг; ипoтeкamоrtgage debenturе - o6eспечеIlнoe toлгoвoе oбязaтeль-
стBoM/R - см. Mate's Reсeiptmulti latегal - мнoгoстopoннийmultimodal - (пpил.) с пpиМelreниeМ paзличIIьIх Bидoв
Glossary
Nnakеd debеnture - неoбeспеrleннoe дoЛгoвoe oбязaTeЛЬстBonaturаl rеsourсes - IIpиpoдtlьie pесypсЬI; пoЛeзIIьIe ис-
кoпaeМЬIеnegotiablе - IIoдЛе,кaщий oбсуrкдениIo; нeoкoнЧaтедЬ.
ньIй
to negotiatе - ПpoвoдиTь пepегoвopьI; oбсyrк,цaTь; пepe.yстyпaтЬ
non-binding offеr - пpе'цлo}fiеIrиe бeз oбязaтeльствnotarу pub]iс - гoсyдapcтвенцьrй нoTapиУс
ooсеan bill of lading - нaкЛalцIlaя дЛя Mopскиx пepевoзoкoсean shipping - Mopсrсoe сyдoхoдстBo; Mopскaя .цoстaвкaoffer - пpе,цЛo)Iсeниe; oфepтaoffer without еngagement - пpeдЛo}ItеIlиe бeз oбязa-
тeлЬсTвon approval - для oзнaкoryIЛellия; пoсЛe oдoбpенияon-board bill of lading - нaкЛa.цнaя нa гpуз, пpинятьIй
нa бopт сyдIIaopеn-aссount terms - yсЛoBия oтlсpЬIтoгo счeTaopen сhеque - oтI(pЬIтьrй чекopеning bank - бarrк-эмитeнтorder - 3aкa3; oрдepordеr bill of lading - opдepTlaя IIaкЛaДIIaяorder сhеque - opдepllьrй чeкordinary partnеrship - кoмпaния с rreoгpaничeннoй oт-
BeтстBeннoсTьIoordinarу shares - oбьrкнoвellньIe aIсцииorigin - пpоисxofitдelrиeovеrboard - зa бopт; зa бopToмoverdraft - пepеpaсxoдto overdгaw - пpeBьIситЬ кpeдит (в бaнкe), дoпyститЬ
oвepдpaфтovеrdue - пpoсpoчeнньrй; зaпoздaльrйover-priсed - зaBЬIIIIeнньrй (o цeнe)to owе - бьrть дoЛ}ItIIьIrvI
168 Сommerсial Еngl ish
Ppaсking - yгraкoвкapartial loss _ чaсTI{чнaя гибeльpartiсular avеrage _ чaстIIaя aвapияpartnеrship _ IтapTlrepствo; oбщeствo; lсolvlпaшияparty (to сontraсt' сhequе etс.) - сTopoнa (кoнтpaктa,
veкa и т.д.)passеnger train - пaссa}Iсиpский пoeздpassing of risk _ пepexoд pискapayable - Iloдлefi(aщий oплaтe; пpичиTaroщийсяpayee - пoлУчaтeль (денeг)paying-in slip - блaнк, зaIIoлIIяeN(ьrй пpи Blreсeнии сyМ.
1\,1ьl нa счeт
payment on invoiсe - ollлaтa пo пoлyчeниrо инвoйсaperishable - скopoпopтящийся ToBappersonal aссident insuranсe - стpaxoBaниe oт нeсчaст-
Itoгo сЛyчa'Ito plaсe an order _ paзМеIIIaть зaкaзplс - см. publiс l imited сompanypoliсy _ (стpaxoвoй) пoлисport of destination _ пopT IIatнaчeЕIияport of shipment - пopT oTгpyзкиpreсedenсe - первeIIствo; цpeи}ryщeствopreferenсe shares _ пpиBиЛeгиpoвaнньIe aкцииpreferеntial treatment _ пpeфepeнциaльньrй pe}киIvl; pe-
}Itиrvl MaI{си1\{aдьIIoгo блaгoпpиятсTвoвaнияpremium _ стpaxoBaя пpеп4ия; стpaхoвoй в3IIoсpriсe _ цeнapriсe reduсtion _ с}Iиrr(eIIиe цeI{ыprivatе limitеd сompany - чaстI{aя кoмIIaния с oгрaIIи-
ченнoй oтветствeнI{oстьIoprivate sесtor - чaстньrй се}tTopprivate serviсes - чaстIlьIе yсЛУгиprivatisation - пpиBaтизaцияproсedure - пpoцедУpaproсessing industry _ пepepaбaтьIBaloщaя пpolvIьIIIIдeн-
lIoсть
Glossаry 169
pro-forma invoiсe - цpeдBapитeльньIй cчeтproperty _ иМyщeствo; сoбствeннoсTЬproteсtive duty - цpoTeкциolrнaя IlotпЛинaprotest _ oпpoтeстoBalrиe; пpoтестpubliс limited сompany - oTкpьIтaя кol\{пallия с oгpatlи-
чeннoй oтвeтствеlI1IoстьIоpubliс seсtor - гoсy.цapственньrй сeктoppubliс serviсеs - oбщeствeнньre (гoсyдapсTвerтrrьIe) слyrкбьr
aquality - кaчeствoquantity - IсoЛичествoquantity disсount - oIIToвaя сI{и.IIкaquay - пpичaлquotation - paсцеIlки; пpaйс-лист
Rrail сonsignment note - нarслa.цнaя дЛfl пepеBoзotс }fie.
дeзпой дopoгoйrailway сompany - rt(eЛeзнoдopoхсIlaя I{oпdпaIIия; кoМ-
цaния }rсеЛe3lroдopo}IdliЬIx Ilеpeвo3oкraw materials - сЬIpЬeBьIе }IaтepиaльI; сЬIpЬereсeived bill of lading - нaкЛaднaя нa пpoвеpeнньrй, нo
IIe lloгpyхсeнньrй гpyзredeemable debenture - tцoЛгoвoe oбязaтeльствo. IIoгa-
IцaеМoе в oпpедeЛeтrньrй сpoкto redisсount _ пepeyueсть (вeксeль)registered debenturе - ишIeннoe ДoлгoBoе oбязaтeльствoreminder - Еalloминaниerernitting bank _ бaнк-пдaтeJIьщикto rеnder - oкaзЬIвaть (oб yсЛyгax' пoмoщи)rent - aрeIrдIIaя плaтato rеnt - apeндoвaTьto repair - peшIollтиpoвaтьrepeat ordеr * пoвтopньrй/мнoгoкpaтньrй зaкaзto replaсе - зaМеI{ятьreputation - peцyTaциЯto reserve the right - oстaвЛять зa сoбoй шpaвo
\
. l7o Сommеrсlаj ЕngJrsh
restгiсtive endorsement - oгpaничeнньrй иIiдoссaМeнтretailеr - poзtIиЧIIьrй тopгoвецto retain - oстaвЛяTЬ; сoxpal{ЯTьto return goods - Boзвpaщaть ToBaprevoсable - oтзьIвнoйright of disposal - пpaBo paсцop,I}fielrия; Ilpaвo сoбствeн-
I{oстиrivеr bill of lading - нaкЛa.цнaя для peчIIьIx Ileрeвoзoкto saсrifiсe - пpoдaBaтЬ IIo зaниэ+сel{нoй цeнe: нeсти
УбьIтки
ssafe - сeйфsalеable - I]pигoдIrьrй для прoдa}киsalеs сontraсt - дoгoвop кyllли-пpo/цa}fiиsample - oбpaзeцsampling ordеr - зaкaЗ нa пoстaвкy oбpaзцoвsavings - сбepeэкeнияto sеal - oпеЧaTЬIBaTЬseawortlry - гoдньrй для плaBaIIия (o суднe,1seсond of exсhangе - втopoй эIсзeМпЛяp BeксeJIяseсurеd dеbenture - oбeспeчeltнoe дoлгoвoe oбязaтель-
стBosесuritiеs - цeEIIьIe бyмaгиsе]lеr - пpoдaвецsemi-finishеd goods - пoлyфaбpиIсaтserviсe * yсЛyгa; слуrrсбato sеttle - paсплaчиBaтЬся; paссчитЬIBaтЬсяshare сapital - aкциoнepньrй кaIIиTaЛshaгeholdеr - aкциol{epshaгe index _ иIrдeкс aкцийshares _ aкцииshipper - гpyзooтпpaвитeЛЬshipment - гpyз; пapтия ToBapa; пoгpyЗкa; oTIIpaBкashipping - IIoгpyзкa' IIеpeBoзIсa грyaashipping line - ЛLl:нvrЯ' пIopскиx пepeвoзol{shipping notе - yBe.цolvIJIeIIиe oб oтгpузкe
Glossаry
ship's rail - пеpиЛa сyдIra; Лeepshorts - кpaткoсpoчIrьIe цeнIIьIe бyмaгиto shortship - IreдoIIoсTaвЛятЬsight bill - BeI{сeль к oIIЛaTe пo пpeДъявлeIIиIоsignaturе _ пo.цIIисЬto sink - yтolryTьsleeping partner - пaссиBIlьrй пapтнepsole tradеr - чaстrrьrй пpeдприIIиNIaтeЛьsoliсited offer - oтBeтнoe пpедлo)rсeниe IТo зallpoсyspeсial partner - пapTнep с oгpaничeннoй oTBeтсTBeннo-
стьIospeсifiс duty _ спeцифиvескaЯ IIoIIIJIинa (paссvитЬIBa-
eTся с вeсa' длиtlЬI, oбъeмa, a Еe сo стoимoсти)speсifiс enquiry - сПeциaЛьньrй зaпpoсspeсulator - биprкeвoй дeлец; NIaкЛеp; спeкyляIIтstag (stoсk еxсhange) - (oлeнь' (биpжeвoй дeлeц' игparо-
щий нa IIoвЬIх aкцияx)stalе - Ilpoсpoчel{ньlй; yстapeвшийstanding oгder - пoстoяIIIlьIй зaкaзstatement of aссount - BЬIIIискa пo счeтvstoсkbroker - биpжeвoй бpoкepstoсk exсhange - биpжastосk market - фoндoвaя биprкastoсks - (гoсyдapствeнньre) ценIIьIe бyмaгиstorage - хpaнellиestraight bill of lading - имeтIIIaя IIaклaдI{aяsubrogation - пepexot пpaB стpaxoBaтeлJl к стpaxoBщикУto suffer a loss - пoЕeсти убьrткиsupplier - пocтaBщикto supply - floстaвлять
Ttallyman - кoнтpoJleptеnder - TeIIДepterm bill - Bексeль с oплaтoй в тeчеItиe УкaзaIIEIoгo
сpoкatеrms of dеlivery - yсЛoBия пoстaBки
112 Сommеrсiа| ЕngIish
tеrms of paymеnt - yсJIoвия oпЛaтьItheft - вopoBсTвo; xищelrиethrough bill of lading - сIсвoзЕaя IIaкЛaдIIaяtimе bill - вeксeЛь сo сpoкo}t oпJIaтЬItirne poliсy - стpaxoвoй пoлис IIa oПpeдеJleнньrй сpoкtitle (to goods) - пpaBo сoбствeннoсти (нa тoвap)total loss - пoлнaя гибeльtrade agreement - тopгoвoе сoглalцeниetransaсtion - тpaнсaкция; oпepaцияtransfer - пeprBoдить (деньги)trial order - пpoбньIй taкaз
Uunсonditional - бeзyслoвньrй; бeзoгoвopочньrйunfavourablе - неблaгoпpиятньrйunlimited liability - нeoгpaниЧeItIIaя oтBeтстBeннoсTьto un]oad - paзгpУ)rсaтЬunreliable - нeпa.цerкньrйunseсured dеbеnturе - цeoбeспeчеIll{oe дoЛгoвoe oбяза-
теЛЬствounsoliсited offer - инициaтиBIIoe пpeдJIoEteIIиe (дeлaeт-
ся IIoстaBщикoм бeз зallpoсa сo стopoIIьI 3aкa3чикaс цeЛЬIo нaйтв lloвЬIx клиeнтoв)
unstable - нeстaбильньIй, неyстoйнивьrйurgent - сpouньrйutmost good faith - ПoЛнoe ,цoBepиe (oснoвнoe пpaBилo
3a}сoнa Цo стpaхoBaниIo' кoтopoe 3aклIoчaeтся в тolvl'чTo Лицo' )rсeЛaloщeе зaстpaxoBaться, oбязaнo дaтьстpaхoBII{икУ всIо инфopмaциIo' }сoтopaя плo}Iсeт пo-BЛиять нa нaJloгooблorкениe; стpaxoвaтeли' в сBoIooчepедЬ' oбязaньr I{e ввoдиTЬ в зaблyrrtдеIlиe тoгo' кoгooни стpaxyroт)
vvalid - действитeльньrй; имеroщий силyvaluable - цerrньrйvermin - Bpe.циTeЛЬvote - гoЛoс
Glossаry 173
voуagе - peйс; IIЛaBaI{иevoyagе poliсy - IIoЛис стpaxoBaния IIa пepевoзкУ
wwarehouse - скЛaдwarehousemalr - paбoтIlик скЛaдa
wholesaler - oптoвьrй TopгoBецto withdraw (an offer) - oтзЬIBaть' oTМeIIятЬ' aIIIIУЛиpo-
вaть (пpедлo}кelrие)to withdraw (money) - снимaть (дeньги)
Russian to Еnglish
Aaвaнсoвьrй IIЛaте?It - down paуment
aBиaгpyзoBaя llaкЛaднaя - air waybill
aavlaЛvlь:,klfl' - airline
aгегlт' пpeдстaBитеЛь - agent
aккpeдитив - letter of сredit
aкт IIpиeNIки экспeдитopoМ - Fоrwarding Agent's Cer.
tifiсatе of Reсeiptaктивньrй Пapтнep - aсtivе partner
aкцепт (вeкселя) - aссeptanсe
aкцeптиpoBaть - to aссept
aкцизньrй сбop - еxсise duty
aIсции - sharеsaкциoнep - shareholderal(циoнepцaя кoNIпaIIия - joint-stoсk сompany
a}сциollepньrй кaпитaл - sharе сapital
alrllyЛиpoBaть (пpeдлoжeниe) - to withdraw (an offеr);
to сanсеlaпеЛЛяция - сomplaint
ape}Iдa; дoгoBop apeн.цЬI - lеasе
apеIl.цaTop - leaseholder; lesseе
apellднaя IrлaTa - rent
apeltдoвaть - to rent
apellдoдaтель - lеssor
Ббaлaнс - balanсeбaнк, пoдтвepждaloщий aккpeдитив _ сonfirming bank
бaкк, пpоизводяш1'ий BьIIIЛaтУ пo aккpeдитивУ - advis-
ing bankбaнкoвский lto,ц _ bank сode
бaнковский счeт _ bank aссount
бaнкoмaт - сash dispеnsеr
Glossаry 175
бaнк-плaтeJIьII{иIс - rеmitting bank
бaнк-шолyuaтeлЬ - сolleсting bank
бaнкpoт - bankrupt
бaнк-эшrитент - issuing bank; opеning bank
бeзoтзьrвrrьrй - irrеvoсable
безуслoвньrй; бeзoговopovньrй - unсonditional
бенeфициap - benefiсiary
бeспorшдинньrй - duty-free
бeссpouнoе дoлгoBoe oбязaтeдьстBo - irredеemablе de-
bеnturебиprкa - exсhange; stoсk exсhange
биpэкeвoй бpoкep -- stoсkbroker
биprкeвoй делeц - spесulator
блaгoпpиятньrй - favourable
блaнкoвьrй индoссaмel{т - blank endorsement
<.бЬItс> (биpжa) - bull
бьrть дoлэкЕIЬlМ - to owе
BBaJIIотa - сurгrnсУ
Beксeль - bill of exсhange
BeксеЛь Iс oIIЛaTe I1o пpetъяBЛeниIо _ sight bill
BeксeЛЬ с oплaтoй B Tечeниe yкaзaIIIIoгo сpoкa - term bill
Beксель с Укaзal{нoй дaтoй oпЛaTьI _ date bill
Be}ссeЛь сo сpoкolvl oIIлaтьI - time bill
в3нoс - instalmentBI{лаlцьIBaть _ to deposit
BнyтpeнIIяя нaкЛaдI{aЯ - house bill of lading
вoзBpaщaтЬ тoвap - to return goods
BopoBстBo - theft
вpetитеЛь - vеrmin
BpeМeltнoe сTpaxoBoe свидeтeльствo - сovеr note
втopoй экзeМIIЛяp Beксeля - seсond of exсhange
вЬI,цaBaтЬ (чек) - to issue
BЬIIIискa пo счeTy - statement of aссount.
BьIIIисьIвaTь (ueк, вeксель) - to draw (сheque, bill of
eхсhangе)
177176 Соmmerсiаl Еnqi ish
вЬlIIoЛI{'ять 3aкa3 .* to exeсute an orderBьIIIyскaть (aкции) - to issueвьIПyскiraя цeнa - issue priсe
ггapallтия oт yбьrткoв - indemnityгel{epaльIrЬIй пapтнep - general partnerгeI{еpaЛьIlьIй шoлис - floating poliсyгoдI{ЬIй для IIлaвaния (o суднe) - seaworthyгoлoс (пpи гoЛoсoBaнии) - voteгoсyдapствeнньIе цerrЕьIe бyмaги - govеrnment stoсksгoсyдapствellньIй IIoTapиyс - notary publiсгoсyдapствeнньrй сeкTop - publiс seсtorгoтoвьrй тoBap - finishеd goodsгpalrицa - border; frontierгpoмoздкий гpyз - bulky сargoгpyз - shipment; сargoгpyзить - to loadгрyзooтпpaвиTeЛь - shipper; сonsignorгрytoпoлучaтeЛЬ - сonsignee
Ддaтa истeчelrия сpoкa - expiry dateдByсTopoнн vтiт - bilateral.цeбeтoвaть - to debitдействитeлЬнaя IIoЛнaя гибeль - aсtual total lossдействитeдьньlй - validдeкЛapиpoвaть тoBaр - to deсlarе goods
дeNIпиIIг _ dumpingдеIIo3итI{ЬIй счeт - deposit aссountдellolrиpoвaть - to depositдиBидеIrд - dividеndдI,IpeкTop - direсtorдoбьrвaroщaя IIpoМьIIIIЛeIIнoсть (oтpaсль) - eхtraсtive
industrу.цoгoвop _ сontraсt; agreеment.цoгoBop ItyIIЛи-пpoдanкИ - sales сontraсtдoкaзaтеЛьсTвo - evidenсе
GIossаry
дolсyМelrт o хpaIIеIIии тoвapa Ila TaNIo}fieIIЕo1\,t сI(JIaде -
bond warrant
дoкyмeнт' дaloщиЙ пpaBo сoбствeннoсTи - doсument oftitle
дoкyшIellтapньrй aккpetИTI4B - doсumentary сreditдoкyMeIrтЬI IIo пpиI{ятиIo - doсumеnts against aссep-
tanсе
/цoкyivtelrтЬI IIoсЛе oIIJtaтЬI - doсuments against payment
дoдг - dеbtдoлгoBoe oбязaтeльстBo' Пoгalllaeп{oe в ollpeдeЛeнньrй
сpoк - redeemablе debеnture
дoЛгoвoe oбязaтедьствo; oблигaщИfl - dеbenturе
дoЛгoсpoчIlЬIe цerrньIе бyмaги - longs
дoЛгoсpoЧIlьlй - long-term
дoсTaвкa - delivеry
шсэкaлoбa - сomplaintrtteЛеtнoдopo)кIlaя кolvtпaния - railway сompany
3зa бopт; зa бopтoМ - overboardзaBод - faсtorузaвьIIIIeнIIьIй (o цeнe) - over-priсedзaдep'rсивaть - to defer; to dеlayзaДep}rскa - delay; dеfermentзaкaз - order3aкa3 нa пoсTaвку - dеlivery order3aкa3 нa пoстaBlсy oбpaзцoв - sampling oгder3aкa3чик - сustomerзaклIoЧaTь кoнтpaкT - to сonсlude a сontraсtзalсoннoe IIЛaтeяtIIoe сpедсTBo - legal tenderзaJIoг - mortgage3a}4еIlятЬ - to replaсeзaIIpaIIIивaть - to enquirезallpoс - enquiryзapyбerrсньtй - foreignзaстpaxoвaнньrй - insured
179178 Сommerсia| Еnql ish
vlиМellliaя нalслaднaя _ straight bill of ladingиMeннoe дoЛгoBoe oбязaтeЛЬстBo - registered deben-
turеипterorцийся в нaличии - availableиМIIopTep - importerиMyществo - propertyиIIвeсTициorrньrй счeт - investment aссountиIIBeсTиция - investmentин,цеI{с aкций - share indexиII.цoссaMeI{т - endorsеmentиIIдoссиpoBaTЬ - to endorseиIIoстpaннЬIй - foreignинспeкциoнньtй opдep - inspeсtion ordеrинфляция - inflationиПoTекa - mortgageиспoЛIIять - to fulfilисTекaтЬ - to eхpire
ккaIIитaЛ - сapitalкaчeствo - qualityкoдeбaться - to fluсtuateкoЛичeстBo - quantityкoluиссия - сommissionкoмtvlepчeскиe yсЛyги - сommerсial serviсesкolvrмеpчeский бaнк _ сommеrсial bankкoМшIepЧeскиЙ итlвoflc - сommerсial invoiсeЕсolvIпaIIия нaзeп[IIьIx пepeBoзol( - haulage сompanукoillпallия с lleoгpallичeннoй oтBeTсTBeIIнoстьIо _ gene-
ral partnership; ordinary partnershipкoМПеIIсaция - сompensationкontIlеIrсиpoвaтЬ * to сompensatекoIIBepTиpoBaть - to сonvertкollBepтиpyeмaя oблигaция - сonvertible debenturекoI{BеpтиpyeNIьIe IIpивидeгиpoBaIrI{ьIe aкции - сonvert-
ible preferenсe shares
GIossаry
кoIrBepTиpУeMьIе цеIIIIьre бyмaги - сonvertiblе giltкoнечньrй пoЛьзoвaтeль - end-userItoIIсигнaTop - сonsigneeкoIlсигIlaциoIIIIaя oтIlpaвкa ToBapa - сonsignmentкoнстpУItTиBIIaя IIoЛI{aя гибель - сonstruсtivе total lossкoIIсyЛ - сonsulItotlсУЛЬскиft иlт'вoйc - сonsular invoiсeкoItсyдьсTBo - сonsulatекoнтeйнеp - сontainеrкoнтpaкт - сontraсt, agreementItoIIтрoЛеp - tallymanкoнфликтьr в IIpol\дЬIItIЛeннoсти - industrial disputeкopelпol{ (veкa) - сhеque stubкpaTкoсpoЧ}JЬIe цeнIIьIe бyмaги - shortsIсpе.цит - сreditкpе.цитI{aя кapтoчкa - сredit сardкУпolr - сoupon
Ллaйнep - linеrлeгaЛизoвaть - to legaliseЛИЗИtI|i apетr.цa - leasingЛиItBидиpoBaть - to liquidateJIvrtIuIЯ Мopскиx пepeвoзoк - shipping linе
lvrMaIсЛeр - speсulator(NIeдBeдЬ) (биpжa) - bear (stoсk exсhange)мe,I(дуIrapoдIraя гpyзoBaя IIaI{лaднaя - international сon-
signment notе}Ie}кдyllapoдньlй ---- international; foreignlvtlloгoсTopoнний - multilatеrall\{opсItoе стpaxoвaние - marine insuranсеNlopскoe сyдoxoдсTвo - oсean shippingMoIIIеIlЕIичeстBo - forgery
нIIaIсдaдIlaя дЛЯ l\(opсIсиx Ilepевoзorс - oсеan bill of lading
181180 Сommеrсiаl ЕnqIish
IIaклaдIIaя для IIеpeBo3oк ,t(еЛe3lloй дopoгoй - rail сon.signment note
нalсЛaдrraя дЛя peЧIIЬIх lTepeвoзoк - rivеr bill of ladingI{aклaдI{aя нa гpyз' пpинятьIй нa бopт сyдIIa - on.board
bill of ladingIlaклaднaя lra пpoBepеItllЬIй' нo rre IIoгpyrкeнньrй гpyз -
reсеived bill of ladingIlaкЛaднaя I{a пpoвoз тoвapoв в кoнтейнepe - сontainer
bill of ladingIIaклaдIIaЯ - bill; waybill; invoiсe; сonsignmеntнaкoпитeЛЬI{ьIe пpивидегиpoвalrньIе aкции - сumula-
tive preferenсе sharеsНaJIvIчуIe - availabilityнaпotvlинaниe - reminderнapyЩeниe кoнтpaктa - breaсh of сontraсtнaсьrпнoй гpyз - bulk сargoнeблaгoпpиятньrй - unfavourableнeдeйствительньrй - invalidIIедoпoстaBкa - shortshipmentнeиспpaBнЬIй - faultyIleкaчeстBeнньrй - faultyнeIIaдeхсIIЬIй - unreliableнeoбeсцечelll{oе дoЛгoвoe oбязaтeЛьсTBo - nakеd deben-
turе: unsесurеd dеbenturеI{eoгpaIIичeЕI{aя oTветствeIIнoсть - unlimitedoliabilitуIlepaсTaп{o]tсeнньrй - in bondнестaбильньrй, нeyстoйчивьrй - unstableIlизкoкaчeствeнньrй - inferior
ooбeспeчeннoe дoЛгoвoe oбязaтeльстBo - mortgage deben-
ture; seсured debenturеoбrкaлoвaть - to сomplainoблaгaeмьrй пoruлинoй - dutiableoблaгaть пoruлинoй - to impose dutyoбJIИГaЦИЯ IIa пpeдъяBитeЛя - bеarer debentureoбoснoвьrвaть - to justifyoбpaзeц - sample
Glossar
oбpaщeниe - сirсulationoбщaя aвapия - general averagеoбществeнньIe (гoсyдapствeнньre) слyrкбьr - publiс serv-
iсеsoбщeствo с oгpallиченнoй oтвeтстBе}lltoстЬю - limited
partnershipoбщий зallpoс - gеneral enquiryoбъявдeние тelrtepa - invitation to tenderoбьrкнoвенItьIe aкции - equities; ordinary sharеsoгpallичeнЕьrй зarraс - linrited stoсksoгpaничellньrй индoссalvtент - rеstriсtive endorsementoкaзьIBaTЬ (oб yслyгax, помoщи) - to render(oЛeнЬ) (биpэкeвoй деЛeц' игpaющий IIa IIoвьIx aк-
цияx) - stagollеpaция (бaнкoвскaя) - transaсtionoпeчaтьIвaTь - to sealoIIЛaTa IIo пoлyчeниro сveтa-фaкTypьI - payment on in-
voiсеoцЛaTa пo фaктy - сash on deliveryoпЛaTa пoсЛe IIoлУчeния дoIсyМeнToB - сash against do-
сumentsoпЛaтa пpи зarсaзe - сash with orderollлaтa пpи пoсTaвке - сash on deliveryoпpoтестoвaние - рrotestoПтoBaя скидкa - bulk disсount; quantity disсountoптoвьrй 3aкa3 - bulk orderoптoвьtй Topгoвeц - wholesalеropдep - orderopдeplraя IIaIсЛaдIIaя - order bill of ladingopдepньrй чeк - order сhequeoсTaвЛятЬ зa сoбoй пpaBo - to reserve thе rightoтBeтстBeIIтIoсTь - liability; responsibilityoтeчeсTBerrlroгo пpoизBoдстBa - domestiсoтtЬIвaтЬ - to withdrawoтзьrвнoй - revoсableoткaзьIвaTь в oIIлaTe чекa/BеItсeл,{ - to dishonour
a сhequе/bil l
182 Сommerсia| Еngl ish
oTкpЬIтaя I{oМfIaЕIия с oгpallичеIlнoй oтветствeнI{oстЬIo -publiс limited сoшpany
oткpьrтьrй ЧeIс _ open сhequeoтNIeнять - to withdraw; to сanсeloTIIpaвкa - shipmentoTпpaвЛятЬ - to dispatсhoTсpoчкa - defеrment
Ппapтия тoвapa - shipmentпapтнep с oгpaничeннoй oтвeтстBellнoстьro - l imited
partner; speсial partnerПapTlrepствo - partnershipпaссaхсиpский пoeз.ц - passengеr trainпaссивньtй пapTIIep - sleeping partnerпеpвolraчaльньrй зaкaз - initial orderпepвьrй эк3е1vlпляp BеIссeЛя - first of eхсhange 'пepeBoдIzrтЬ (дeньги) - to transferпеpeвoзкa и стрaxoBaIIие oЦЛaчeIIЬI - Carriage and In-
suranсе Paidпepeвoзкa ollлaчeнa дo - Carriage Paid Toпepeвoзчик - сarriеrпepeдaтoчIraя IIa.цIIись - еndorsementпepepaбaтьrBalощaя IIpol\[ЬIIIIJIeннoстЬ - proсessing in.
dustryпepepaсxoд - overdraftпepeyстyпaть - to negotiateпepeyчeсTЬ (вексeль) - to redisсountпepeхot пpaB стpaxoBaтеЛя It стpaxoвщиlсy - subroga.
tionпеpexo/ц pис}сa - passing of riskпЛaтeх( - instalmentIIлaтeлtIIoe ПopУЧel{иe - draftпoвpe?fiдeние - damageпoвтopньrй/rшнoгoкpaтньrй зaкaз - repeat orderпoгpyзкa' пepeвoзкa гpУзa - shippingIloдaвaть aпeЛЛяциIo - to appeal (against)IIoддeЛЬIIЬIй - forged
GIossаry
пoдпись - slgnatureпoдтBep}rсдeItие - сonfirmation; еvidеnсепoдтBep}кденньrfl - сonfirmedпoI(рьITие (стpaxoвoе) - сover (insuranсe)пoкpьrтьrй - сoveredпolсyпaтeль - btryerIIoкУпкa в paссpoЧI(y - hirе purсhasепoлезIIЬIe исI(oпaеMЬIe - natural resourсеsIloЛис - poliсyпoЛис стpaxoвaltия гpyзa - сargo poliсyпoЛис стpaxoвaния IIa пеpeBoзl('y - voуage poliсytloЛИc стpaxoвaтIия су.цIra - hull poliсyпoЛIIaя rибeлъ - total lossпoЛIloe дoвepиe - utmost good faithпoдньtй иIIдoссaМeIIт - full endorsementпoлyфaбpикaтьI - semi-finished goodsпoЛУчaтеЛь (дeнег) - paУeeпoЛyчaтеЛЬ сpeдсTв - bеnеfiсiaryпoнeсTи убьrтки - to suffеr a lossпoпpaBl{a - amendmentпopт IIaзнaчeIIия - port of dеstinationпopT oTгpУзrси - port of shipmentпoсдeдyloщий зaкaз - follow-up orderпoсoЛ - ambassadorпoсoЛЬстBo - еmbassуIIoсpeдIIиIt - intermediaryпoстaBЛять - to supplуIIoстaBщиI{ - supplierIIoстoяIIIIьIй зaкaз - standing orderпoсЬIЛoчIIaя IсoМпaIIия - mail ordеr сompanyIIoтеpIIeвшIaя сTopoнa - injured partyпoтpeбитeлЬ - сonsumerпoтpебитeльскиe УсЛyги - сonsumer serviсеsIIoIIIЛинa - dutупoIIIлиIIa ad va]orem - ad valorem dutyIIoIIIдиI{a IIa иNIпopт - import dutyпpaвo paспopя)rсelаИЯ - right of disposal
18з
184 Сommerсial Еnglish
пpaвo сoбственнoсти - right of disposalпpaвo сoбствeннoсти (нa тoвap) - tit lе (to goods)пpeвЬIсиTЬ кpeдит - to ovеrdrawПpедBapитeльньrй 3aкa3 - advanсe orderпpelцBapиTeльньrй счeт - pro-forlna invoiсeпpедЛoЖellиe - offerпpeдлo}Iсeнцe бeз oбязaтeльств - non-binding offer; of-
fer without engagernentпpeдNIeтЬI poскoIIIи - luxury goodsпpeдoПЛaTa - down paymentпpедocтaвлятЬ -. to grantПpедъяBдЯть цpеTеI{зИLI - to сlaimпpеиМyщестBo -- advantagе; preсedenсепpетeIIзия - соmplaintпpетeIIзиJ{; peклaМaция; rкaлoбa - сlaimпpефеpeнциaльньrй peшсиlv - preferential treatmеntпpиBaTизaция - privatisationпpиBилeгиpoвaI{IIьIe aIсции - preferenсе sharesпpигoдньrй tля llpoдilrси - salеableПpиIIиlvIaTь - to aссeptIIpиIlятЬ BeксeJIЬ с дисtсoнтoм - to disсount a bill of
exсhangeпpиIlять ueк/вeксeль к ollлaтe - to honour a сheque/bill
of exсhangепpиpoдIrЬIе pесУpсьI - natural resourсesпpичaЛ - quayIIpичитaIoщlцйcя - payable; duепpoбньlй 3aкa3 - trial orderпpoBoдитЬ - to negotiateпpoдaвeц - sеllerпpoдлeвaть - to extеndпрoи3Boдствo (кaк oтpaсль) - manufaсturing industryIlpoисxo?t{/цениe _ originпpoсpoчеI{I{ьrй - overdueпpoтel{циollнaя пoIIIЛинa - proteсtive dutyпpoцедУpa - proсedureпpoцеIrтHaя сTaвкa - interest rate
Glоssаry
IIрoцeIrтЬI (пo aкциям; Ira кaIIитaл) - intеrestпpя1\4oe дeбетoBaЦиe - dirесt debit
Ppaбoтник скЛaдa - warehouseman
рaзгpу)rсaтЬ - to unloadpaзмещать 3aкa3 - to plaсe an ordеrpaзpеIIIeнньIй (к ввoзу) - admissiblеpaсIIЛaчиBaтЬся - to sеttlepaспopя}кaться - tо dispose ofpaссчитьIBaTься - to settlepaстaмo)ttиTь гpyз - to сlear goods through сustomspaсцelrки - quotationpeйс - voyagepeкЛaмa - advertisementpeклaшIaция - сomplaintpeклaМиpoвaть - to advertisepeМolrтиpoвaтЬ - to repairpeпyтaция - rеputationpoзниuньrй тopгoBeц - retailerpьIlloк кallитaлa - сapital market
ссбeperкeния - savingsсбopнaя llaклa.цнaя - groupage bill of ladingсбopньrй гpyз - general сargo; groupеd сonsignmentсбopньrй кoнoсaMeIIт _ grouped сonsignmentсбьrвaть - to dispose ofсвoбo,цньtй пepeвoзчиId - Free Carl.ierсдaвaтЬ B экспJIyaтaциIo - to сommissionсeйф - safeсepтификaт цpoисxo}tсдеIlия - сertifiсate of originсeть peaлизaции - сhain of distributionскBoзIIaя llaкЛaдЕaя - through bill of ladingскидкa - disсountсIсидкa 3a пpедoIIлaTy - еarly payment disсountскидкa IIpи oплaте нaЛичIIЬIlvIи - сash disсountсклaд - warehouse
185
187186 Сommerсia| Еnq!ish
скopoпopTящийся тoвap - perishablesскopoсTнoй пoе3д; экспpeсс - express trainсItpЬIToe нaпoМиIlaниe - hiddеn rеminderскpьlтьrй - сovert' hiddеnсЛyЕбa - sеrviсeсЛy)кбa дoсTaвки - feeder serviсесMeIIIaннafl пoIIIлиIIa - сompound duty, mixed dutyсмeшlaнньrй гpyз - general сargoсмerпaнньrй стpaхoвoй IIoЛис - mixed poliсyсIlи,IсeItиe цeIIЬI - priсe reduсtionсниМaть (дeньги) - to withdraw (money)сoбствeннoсть - propеrtу
сoглaIIIеIlие - agreemеnt; сontraсtспециaЛЬIIьIй зaпpoс - spесifiс enquirуспeцифиueсIсaя пoIIIЛLIНa - speсifiс dutyспpoс - demandсpeднeсpoчньIe цeнIIЬIe бyмaги - mediumsсpoк - dеadlinеcpoк пoстaвки - delivеry timeсpovньrй - urgentсpouньrй сЧeт - fixеd.term aссountссУдa; зaeм - loanстиxийнoe бeдствие - Aсt of GodсToиNroсть - сostсToиtvroсть и фpaxт - Cost and FreightстoиlvloстЬ' стpaxoBкa и фpa6т - Cost, Insuranсe and
Freightстopoнa (кoвтpaктa' чelсa и т.д.) - party (to сontraсt'
сheque etс.)сTpaxoBaIIие - insuranсeстpaxoвaние )tсизIlи - life insuranсeстpaxoвallие oт IIeсчaсTIIoгo слyчaя - personal aссident
insuranсестpaxoвaтeдь - insurerстpaхoвaя IIpeMия - premium
стpaxoBкa - insuranсe
GIossаry
стpaxoвoй иIrTepес - insurablе interestстpaxoвoй пoлис нa oПpeдеЛeнньrй сpoк - time poliсyсTpaxoBщик - insurerсyдeбнoe paзбиpaтeлЬстBo - legal proсeedingsсьIpье - raw materials
Tтaп[oхсeннaя нaкЛаднaя - сustoms invoiсeтaшro}iсeннoe paзpeшIeниe - сustoms permitтaМoэIсeннЬIй склa,ц tЛя xpaнellия тoBapoB дo yIIJIaтЬI
пoIIIЛиIIьI - bonded warehouseTaMo)кI{я - сustomsTBеpдoe пpeдлoEсeIIие - firm offеrтвepдьrй 3alсa3 - firm orderтeкyщий счeт - сurrent aссountтelrДep - tenderToвap (гpyз) в кorrтeйнepax - сontainerised goodsToвap oтeчeстBeнIroгo IIpoизBoдствa - home-produсed
goodsтoBap пo тpeбoвaIIиIо - merсhandise on сallтoвapньrй IToе3.щ - goods trainTopгoвaя Пaлaтa - Chamber of Commеrсeтopгoвoe сoгJIaшIeIIиe - trade agreementтopгoвьrй сveт-фaктypa - сommerсial invoiсeтpaнсalсция - transaсtionтpaссaIIT - drawerтpaссaт - draweeтpaттa _ bill of еxсhangетpeбoвaть BoзшIeщеI{ия yбьrткoв - to сlaim damagesTpyдoBЬIe зaтpaтЬI - labour сosts
vyбьrтoк; пoтepя - lossyBeДoNIдеIIиe oб oтгpyзке - shipping note
УвeдoшIЛeниe oб oтгpyзкe oпaсIloгo гpyзa - dangerousgoods note
yдep}киBaTь - to deduсt
188 Сommerсiаl ЕngIish
УпaкoBrсa - paсkingypегУЛиpoвaние (спopoв, кoнфликтoв) - adjustmеnt (of
a сomplaint)yсJIoвия oIIЛaтьI - tеrms of payment
Услoвия oтItpЬIтoгo сЧeTa - open-aссount termsyсЛoвия пoсTaBки - terms of delivery
УсЛyгa -- serviсeyToIIyть - to sinkyщepб - damage(s)
Ф
фaбpикa _ faсtory
фaльrшивьrй - forged
физинeскoe Лицo - physiсal person
фиксиpoваннaя пoIIIлинa - fiхed duty
фoндoвaя биprкa _ stoсk market
фpaнкo-зaвoд - Еx Works
фpaнкo.тpaнспopтнoe суднo - Free Carrier
фpaxт - freight
xxищеHиe _ theftxpaнellиe - storageхpупкий - fragile
ццeнa - priсe
цеIIIIьIe бумaги - stoсks; seсurities
цеIIIIьre бумaги с гapallтиpoвaннoй пpибЬIЛьIo - gilt-еdgеd seсurities
цeнI{ьIe бyмaги с плaвaloщиlvl кypсol4 - floating ratеgilt
цeнньrй - valuable
цеIITpaльIIьIй бaнк - сentral bank
ччaстичIIaя гибель - partial lossчaстнa'fl aвapия - partiсular average
GIossаry 189
чaстIIaя кoMIIaция с oгpallичeннoй oтвeтстBеIlIIoстьк) -
private limited сompanyчaстнЫe yсЛyги - private seгviсesчaствьrй IIpeдпpиIIиIvIaтeль - sole traderчaстньrй сeктop - private seсtorчeIс - сhequeчеIс нa цpедъявитедя _ bearer сhequече}с с гapaнтиeй oпдaтьr - marked сhequeчИcTaя нaкJlaднaя - сlеan bill of lading
шIшIтyp\ДaIIскaя paспискa - Mate's ReсeiptшIтypМaнскa'r paспискa o тoм' чтo гpy3 lre в пop'Iдке -
dirty Мate's Rесeipt
aэкспeдиTop - forwarding agentэкспopтep - exportеrэкспopтItaя пolIIЛиIia - export duty
IOIopидическoе ЛI?rцo - legal entity
oб aвтope
Heather Ferliссhia is a British-born gradate of Bir.minghanr Universitу in Еngland. After Уears spentteaсhing in England and Germany, she beсame Headof Еnglish at the International Business Sсhool inGermany, where she taught business subjeсts to seс-retaries, managers and undergraduatеs as well asexamining for the Chamber of Commerсe.
Хeзep Фepликкья poдиЛaсь в Beликoбpитaнии, тaшr)I(e зaкoIIч илa Биpмингeмский yIIиBepсиTeт. Пoслeнeскoлькиx лeT ПpeпoдaBallия в Aнrлии, a 3aTeМв Гepмaнии oIIa BotглaBиЛa oTдeЛeIIиe aнглийскoгoязЬIIda Meэкдyнapoднoй бизнeс-rпкoJIьI в Гepмaнии,гДe пpeпoдaBaЛa дeлoвoй и кolvlмepчeский aнтлиtт-cl<иЙ для сeкpeTapeй, бизнeсмeIIoB и вЬIпyскIIикoB'a Taкrrсе ПpeдсTaBЛялa Heмeцкyro Topгoвyю Пaлaтyнa сepтификaциol{нЬIx экtsaмeнaх.
Учeбнoе L4зIIaнИе
Heаther Fer! icсhiа BA (Hons)
сo.vllvlЕпGiAL ЕNGLlsнпoсoБиE пo кoмn,tEPчЕскolvty A}tглийскolt,ly язЬlKy
oтвeтствeнньtй peдaKтop K. БьtчкoвXyдoxeствeннь|й peдaктoр, дизaйн oблoжки Е, Бpьtнник
KoмпЬютeoHaя BeDстKa И' Koх<aнoвa
ooo "Издaтeльcтвo "Эксмoo127299, мoсква, ул. Kлаpы Цeткин, д. 1 8/5. Т eл. : 41 1 -68-86, 956-з9.2 1 -
нome page: www.eksmo.ru Е-mai|: [email protected]
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чeстBe сnpaBoчн|'|Ka Дляpaбoтaющ'|х в oблaсти
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