Customs tariffs, taxes and duties

Автор работы: Пользователь скрыл имя, 14 Октября 2013 в 19:26, реферат

Описание работы

In every country import-export rates are supposed to fulfil four functions:
• to protect home producers from foreign competition in order to increase their own competitiveness in the domestic market;
• to limit exporting products in which there is a shortage in this country and to regulate foreign trade transactions for political interests;

Файлы: 1 файл

Таможенное дело Брюховец-Чахоян 3 курс.doc

— 346.50 Кб (Скачать файл)

One of the important features of the bill of exchange is that it is negotiable. It means that it can be used by the holder to pay his own debts. To do this, the holder of the B/E must endorse it, i.e. sign his name on the bill before handing it in to the next holder.

The owner of the bill can also sell it to the bank, who will pay face value, less interest: this is called to discount a bill. The other way to use a bill is to leave it as security for a loan.

It is due to its free negotiability that the B/E is known to be a useful means of payment in foreign trade. Undoubtedly, its successful operating depends on confidence and trust. Before handling bills each individual company’s status and reputation are thoroughly checked and taken into account.

8. Give English equivalents to the following Russian terms:

номинальная стоимость; денежное обеспечение; индоссировать документ (сделать передаточную надпись); пущенный в обращение вексель; дисконтировать вексель (снижать учетный процент при досрочной оплате)

9. What do we call?

1) to sign the document (cheque, bill) passing rights on it to another person;

2) able to be negotiated;

3) documents or valuables given as cover for loan;

4) the value on a bank-note or stamped on a coin;

5) to sell a bill to a bank for a price that is lower than the value of the bill when it becomes due for payment.

10. Translate into English:

1) Одним из наиболее часто  употребляемых способов оплаты  во внешнеторговых операциях  является аккредитив.

2) Владелец векселя может продать  его банку по номинальной стоимости.

3) Оплата товара отечественным  поставщикам производится обычно  или посредством предоплаты или  в течение некоторого разумного  периода времени после поставки  товара.

4) Вы можете оплатить данный товар по текущему курсу обмена валюты.

5) Условия оплаты по открытому  счету предоставляются покупателю  с безупречной репутацией.

 

EPISODE 2

Discussing Terms of Payment Over a Phone

Customer: Good morning, Mr Galiano. My reason for calling you up is to tell you that we have decided to place an order with your company and would be glad if you could give it your early attention.

185

Supplier: That’s a good piece of news. In what way have you chosen to pay?

Customer: We have instructed The General Bank of Russia to open credit for £ 775 in your favour, validuntil 12 September. The credit will be confirmed by the General Bank of Russia, Broad Street, Manchester, who will accept your draft on them at 30 days for the amount ofyour invoice.

Supplier: What shipping documents should we attach to our draft?

Customer: Two bills of lading, two commercial invoices and an Isurance policy.

Supplier: For what sum?

Customer: £ 800.

Supplier: What about despatch and marking instructions?

Customer: They will be given to you by our forwarding agents in Manchester, who will advise you of their charges.Your invoice should include CIF-St.Petersburg, and the amount of our credit is sufficient to cover your bank commision on the draft3.

Supplier: Well, I must say that your choice of method of payment is quite acceptable to us, and I just note that this will be by irrevocable letter of creditfor a sum not exceeding £ 775, valid till September 12. As soon as we receive confirmation of this credit from the General Bank of Russia, Manchester, we will make up your order and await despatch instructions from your agent.

Customer: Please advise us when the goods will have been dispatched.

Supplier: Sure, thank you for your call and your order.

Vocabulary Notes on the Text

valid - имеющий силу, действительный.

draft... at 30 days for the amount of - чек (тратта) сроком на 30 дней на сумму.

to cover the bank commission on the draft - заплатить банку комиссионные по чеку.

irrevocable letter of credit - безотзывной аккредитив.

 

Exercises on the Dialogue

1. Read and translate the dialogue.

2. Explain the meaning of the following terms:

valid; confirmed; attached; acceptable; to accept a draft for the amount of...; bank commission on the draft; irrevocable letter; to open a credit

3. Give English equivalents of the following words and phrases:

действительный; прилагаемый; подтвержденный; приемлемый; не превышающий (о сумме); сделать заказ у кого-л.; принять к сведению что-л. как можно раньше; открыть кредит на сумму в ... на чье-л. имя; заплатить комиссионные банку; оплата услуг; безотзывной аккредитив; чек (тратта)

4. Use the following collocations in sentences of your own:

to place an order with smb; to give smth early attention; to open a credit for the sum of…; in smb’s favour; to cover bank commission on...; despatch and marking instructions

5. Report the dialogue in indirect speech.

 

Vocabulary and Speech Exercises

6. Fill in the necessary prepositions:

When the debtor has to settle his account__delay, he can buy a cable transfer__ a bank, paying the equivalent amount__the current rate__exchange plus the cost__the telegram to be sent__the bank. The bank will then send their correspondent__the creditor’s town a telegram__a secret code instructing the correspondent to pay the creditor the amount__the debt. This method is called Т.Т. (telegraphic transfer).

7. Read and translate the following dialogue. Act it out in pairs.

A. Have you considered our request to grant us credit for the construction of two supermarkets in our city?

B. Yes, we have. We know that you are carrying out a wide program of national development and are ready to extend credit for the construction of the projects.

A. Glad to hear that. And on what terms?

B. The credit will be granted for five years at 10% per annum.

A. Don’t you think that the interest rate is somewhat overestimated? Could you reduce it?

B. I am afraid there is no possibility to make such a concession. We believe that the 10% interest rate is quite reasonable.

A. I see... We’ll think over your proposal. And could you consider the possibility of our repaying the credit in our traditional export goods?

B. No, I am afraid not. We would prefer you to provide for the repayment of the credit in hard currency.

8. Give English equivalents of the following:

рассмотреть просьбу; предоставить кредит; осуществлять программу национального  развития; из расчета 10% годовых; завышенная процентная ставка; погасить кредит поставками экспортных товаров; в твердой валюте

9. Translate into English:

1) Мы до сих пор не получили Ваш аккредитив и хотели бы знать причины неоплаты.

2) Вы должны открыть безотзывной  аккредитив на сумму в 5 000 долларов  в пользу нашей компании в  Центральном банке Вашей страны.

3) Каков срок действия Вашего  аккредитива? - Аккредитив будет  действителен в течение 60 дней.

4) Эта сумма покрывает расходы,  связанные с открытием и подтверждением  Вашего аккредитива.

5) Мы не получили от Вас  полный комплект документов. - Все  требуемые по аккредитиву документы  были своевременно направлены  в банк. - Какие документы будут приложены к счетам? - Обычно мы передаем заказчику вместе со счетами полный комплект отгрузочных документов.

6) На каких условиях Международный  инвестиционный банк (International Investment Bank) предоставляет кредиты? - Кредиты  предоставляются на приемлемых условиях. - Мы хотели бы получить долгосрочный кредит.

WRITING PRACTICE

Settlement of Accounts

When the buyer’s order is received by the manufacturer it is acknowledged by letter or postcard. The order is then passed for execution - by the Sales Manager and his department - and the work of packing the order begins. As many of the manufacturer’s departments, such as Sales, Accounts1, Despatch, etc., must have details of the order, there is much paper-work to be done. The modern practice of using one kind of printed form with copies in different colours sent to the different departments saves a great deal of time. One of these copies is used by the accounts department as the invoice, which is considered to be an important document in the export trade.

The commercial invoice will contain the details of the customer’s name, goods ordered, order number, terms and prices of the various items ordered. It may be required by banks, export/import agents, shipping companies, customs authorities, and consulates.

The invoice is sent to the customer by post, or through an agent or a bank. In the case of a single transaction, payment is executed either before delivery or on delivery of the goods. Such kind of payment is called payment on invoice2.

But if the customer has an open account with the seller, the latter will keep a record of all invoices sent out to the buyer and once a month (or once a quarter) he will send an account of all the goods shipped and payments received during the period. This document is called the statement, and the method of paying - payment on statement3.

Below see the formulas used in letters while sending the invoice or statement (1, 2, 3) and notifying payment of account (4, 5):

  1. We have pleasure in inclosing our invoice to the amount of $250,000 covering the first consignment per S.S. Santa Monica.
  2. With this letter we are sending you a statement for January, February and March totalling $...
  3. A copy of the invoice is enclosed. The shipping documents will be handed to you by the Russian Bank against settlement of the amount shown.
  4. We have pleasure in sending you enclosed our cheque for $...
  5. Thank you for the pro-forma invoice. We accept your price and are making immediate payment to our bank, who will notify you of the credit in due course4.

Sometimes it happens in the export trade that an account is not paid when due. A customer may run into a period of bad trade or delays may be caused by customs regulations in his country. A wise buyer will advise his supplier of any such situation and try to get concession from him. If he does not, an account becomes overdue5, and the seller will have to ask for payment.

If a firm decides to send a letter requesting payment, the style of it will depend upon the type of customer to whom it is meant; how long overdue; whether there were such cases before; how valuable the business is, etc. A first request should be friendly in tone and show neither annoyance nor any doubt about the buyer’s intention to pay like in the following letter:

Dear Sirs,

As we have always received your payments punctually, we are puzzled to inform you that we have had neither remittancenor report from you in connection with our current statement of 17 June.

No doubt it is through an oversight on your part that settlement is now four weeks overdue and we look forward to receiving your remittance in the course of a few days.

Yours faithfully,...

If the supplier does not receive a reply to his first request within a reasonable period, he will repeat it once more or even twice before taking legal action to obtain money due to him. The number of letters and the tone to adopt in them will depend upon individual circumstances. Below see the suggestions for a second reminder (1) and for a final demand (2):

 (1) We regret very much that you have not replied to our letter of ... asking you to clear the amount of$ ... due to invoice No ... Kindly advise us if there are any sound reasonsfor your non-payment, or inform us what arrangements you are making for settlement.

(2) As we have received no replies to our letters of ..., we have no choice but to take immediate legal action to get back the amount due to us unless your payment is received within 10 days.

Vocabulary Notes on the Text

Accounts - бухгалтерия (отдел).

payment on invoice - платеж по счету-фактуре.

payment on statement - платеж по выписке из счета.

in due course - своевременно.

overdue - просроченный.

remittance - денежный перевод.

to clear the amount of - произвести расчет на сумму...

sound reasons - убедительные причины.

 

Exercises

1. Read and translate the Text.

2. Translate the following words and learn their pronunciation:

accounts; cheque; concession; non-payment; remittance; settlement; due; overdue; valuable; notifying; totalling; acknowledged; punctually; annoyance; oversight

3. Give English equivalents for the following:

a) бухгалтерский отдел; отдел по отправке (доставке) товаров; канцелярская работа; выписка из счета; коммерческий ин-войс; регистрация (учет) инвойсов; денежный перевод; платеж по счету-фактуре; неуплата; расчеты с клиентами; просроченный расчет

b) производить платеж; извещать об оплате по счету; произвести расчет на сумму...; после оплаты указанной суммы; известить о кредите своевременно; добиться уступок; по недосмотру; получить причитающиеся деньги

4. Answer the following questions:

1) What practice saves a great deal of time while doing paperwork connected with the order?

2) What kind of payment is called "payment on invoice"?

3) What is a statement?

4) In what way is payment executed if the customer has an open account with the seller?

5) What will the style of the letter depend upon if a firm decides to send a request for payment for the first time?

6) What will the supplier do if he does not receive an answer for his first reply?

5. Fill in the necessary prepositions:

Dear Sirs,

We have received your letter__14 February reminding us that your account was due__payment__31 January. We meant to clear this account__the end__last week, but business has been bad__the fruit trade, and our customers have been very slow__clearing their accounts. This has, __course, resulted__a temporary liquidity problem__us.

Yesterday we sent you a cheque__$5000, which we ask to accept__account. A further sum will be sent__a fortnight’s time.

We are very sorry to keep you waiting, but we are doing everything we can__the circustances.

Yours faithfully,...

6. Translate the letter into English:

Уважаемые господа!

15 мая мы послали вам выписку  из счета, согласно которой  вы должны были произвести  расчет на сумму в 15,000 долларов. Платеж должен был быть осуществлен  до 30 мая, но до сих пор мы  не получили от вас ни денежного  перевода, ни объяснения с какими-либо убедительными доводами.

К сожалению, мы не можем долго держать  этот счет открытым, и сообщаем вам, что если вы не оплатите ваш долг в течение пяти дней, мы будем  вынуждены прибегнуть к судебному  разбирательству, чтобы получить причитающиеся  нам деньги.

С уважением...

7. Send a short letter to a foreign customer, enclosing quarterly statement.

8. Write a tactful letter to your foreign customer the business with whom you value highly. The customer usually settles his account by banker’s transfer, but has failed to pay the latest account and has not given you any explanation; payment is now a week overdue.

9. Write a letter to which the letter of Exercise 5 is the answer.

SPEECH PRACTICE

1. Disagree with the following statements. Use all possible formulas of disagreement. Enlarge upon the matter:

1) The banker’s transfer is a written order from a creditor to a debtor to pay on demand or at a specified date a stated sum of money to a person named on the document.

2) The bill of exchange is a mere transference of money from the bank account of a buyer in his own country to the bank account of the seller in the seller’s country.

3) Payments in advance are used when a buyer is of unquestionable reputation.

4) One of the important features of the letter of credit is that it is negotiable.

5) If payment is executed either before or on delivery it is called payment on statement.

2. Say a few words about:

  • a) methods of payment in foreign trade;
  • b) types of settlement of accounts while paying for goods.

3. Make up dialogues and act them out in pairs:

1) between a customer and a seller discussing the terms of payment as one of the articles of the proposed agreement;

2) between a seller and a customer whose settlement is overdue. Note that previously the customer was a regular payer;

3) between a seller and a customer who wants to place an urgent order and is giving payment instructions over the telephone.

 

 

Unit XII 
INSURANCE

EPISODE 1

The Reason For Insuring Goods

The general idea of insurance is to gain indemnityin the case of any happening that may cause loss of money.

Insurance has become more and more significant as commerce has developed. Neglecting to insure goods either warehoused or in transit is all very well until something goes wrong. While goods are being stored, there are the risks of fire and burglary. With the goods in transit the number of hazards even arise. While transporting, the goods may be damaged through a lot of reasons; for example vibration, an accident, poor handling, change of temperature, etc. And, of course, there is always the threat of pilferage when either a small part of consignment or the total contents of trailers or containers disappear without trace. Consequently, the reason for insuring goods is evident - both the buyer and the seller are protected against financial loss which may arise through no fault of them.

Goods are normally insured for the full amount of their value, which is calculated as: price of goods + cost of freight + insurance premium+ percentage of the total sum to represent a reasonable profit for the seller. There may be different types of insurance coverage- insurance against fire4, theft/burglary insurance5, accidence insuranceand a lot of others. But the usual procedure is to insure goods

against all risks7. This type of insurance involves a W.A. clause (= "with average"8, where the word "average" derived from French avarie means damage), which denotes that insurers pay claim for partial losses. The F.P.A. ("free of particular average9") type of insurance means that partial losses are not covered.

Particular average denotes partial loss or damage accidentally caused to a particular lot of goods. The responsibility for particular average is set either upon the owner of the lost property or those who caused damage.

In the case of general average10, which means any extraordinary loss, damage or expenditure borne for the purpose of preserving the ship and the cargo, all the parties interested in the adventure are responsible. The following events may serve as examples of general average: when goods are thrown into the sea to lighten the ship, when cargo is damaged by water used to put out a fire, the cost of towing a ship into the port for repair, etc.

The principal document used in insurance is insurance policy which acts as a contract. The policy may be known as a floating policy11, when it covers a large quantity of goods for a fairly long period, usually a year, or it covers goods up to a large sum of money. For each shipment of goods another document is issued, which is called the insurance certificate.

A cover note12 is a small document issued by the insurance agents to their customers, to tell them that their goods are insured, and to give proof of this until the policy is ready.

Vocabulary Notes on the Text

to gain indemnity - обеспечить возмещение убытков.

insurance premium - страховое вознаграждение, премия.

insurance coverage - страховое покрытие.

insurance against fire - страхование от пожара.

theft/burglary insurance - страхование на случай кражи.

accidence insurance - страхование от несчастных случаев.

against all risks - страхование от всех рисков.

"with average" - включая аварию.

"free of particular average" - свободно от частной аварии.

10 general average - общая авария.

11 a floating policy - генеральный страховой полис.

12 a cover note - "ковернот", свидетельство о страховании.

 

Exercises on the Text

1. Read and translate the text.

2. Translate the following words and learn their pronunciation:

indemnity; burglary; threat; premium; coverage; average; pilferage; vibration; hazards; adventure; financial; particular; towing; warehoused; accidentally; extraordinary; repair; lighten; neglect

3. Answer the following questions:

  • 1) What is the general idea of insurance?
  • 2) What kind of hazards can arise while goods are being stored or are in transit?
  • 3) How are goods normally insured?
  • 4) How is insurance value calculated?
  • 5) What types of insurance coverage can you mention?
  • 6) What do W.A. and P.P.A. clauses mean?
  • 7) What’s the difference between a particular average and a general average?
  • 8) What kind of documents are issued by insurers?

Информация о работе Customs tariffs, taxes and duties