Text-based exercises. Exercise III. Answer the following question to cheek your understanding of the text:

Exercise III. Answer the following question to cheek your understanding of the text:

1. What methods of cash payment do you know?

2. Why is payment by cheque very infrequent in foreign trade?

3. Is payment by transfer (remittance) used in foreign trade frequently? Why?

4. What is the most frequently used method of cash payment? And why?

5. When is payment for collection terms used?

6. Can you sum up advantages of each method of cash payment?

7. What is a draft?

Exercise IV. Give English equivalents of the following words and word combinations:

Проценти, незліченний, чек, стягання, грошовий переказ,оплатити рахунок, походження, розмір, курс, пред’явник, переказуваний, згода, збір, витрати, переводити гроші, накладна, змінювати, акредитив, вимога, підняття ціни, внести аванс.

Exercise V. Study more synonyms to the verbs from the text:

Pay – compensate, discharge, honour, reimburse, remit, remunerate, benefit, present.

Exchange – barter, switch, trade, truck.

Exercise VI. Match the terms a)-e) with their correct definitions:

a) Shipping documents A Documents against payment

b) The tenor B Documents against acceptance

c) A sight draft C An order to pay immediately

d) D/A terms D The number of days of the bill

e) D/R terms E Papers which prove that the exporters have shipped the goods

Exercise VII. Read clusters of words. Pay attention to the prefixes and suffixes. Give your translation.

To negotiate, negotiable, negotiator, negotiation.

To effect, effective, effectively, effectual, ineffective.

To expend, expendable, expenditure, expense, expensive.

To secure, securely, security.

To suit, suitable, suitably, unsuitable.

To honour, honourable, dishonour, dishonorable.

Exercise VIII. Supply the prepositions where necessary:

Nowadays carrying ________goods can be effected ________ sea, ________ air, ________ rail and ________ road. One transaction may involve both land and sea transportation, i.e. goods may very often be carried ________ railway or ______ road vehicles and then ________ ships. So the export trade is subject ________ many risks. Consignments may be damaged _______ transit. So exporters usually insure their goods _________all kinds ________ risk________ professional insurance companies.

Exercise IX. Write the correct form of the verb to make the sentences true:

1. Legal security of state interests (become) very important since lots of Ukrainian enterprises started doing business with foreign firms directly.

2. The firm (form) as early as in 1993.

3. The goods already (arrive). They (be) at the port’s warehouse.

4. We (to be pleased) with the quality of your goods.

5. The first test of the equipment (make) at the manufacturing works.

6. When (sell) complicated equipment requiring a lengthy manufacturing process, sliding prices (apply).

7. If the volume of the contract (increase), we could (grant) an 8% discount.

8. The card attached to the letter (loose).

9. The two methods of payment (in cash and on credit) very often (combine) in a contract.

10. The receptionist said that the hotel charges (go up).

Exercise X. Open the brackets and choose the right word:

1. What (is / are) the news?

2. Detailed information (was / were) sent to them.

3. (This /there) information (have / has) been passed on to the equipment manufacturers.

4. He earns very (little / few) money.

5. She could always give me (many, a lot of) good advice.

6. It’s (a /0) very important information.

7. (Is / are) his knowledge good enough?

8. Such (an / 0) advice won’t help him much.

Exercise XI. Agree or disagree with the following statements:

1. When paying cash, payment may be made with the help of a cheque remittance.

2. The Subject Clause is usually the first to be discussed when two parties start negotiating a contract.

3. A Release Note is issued only when the Buyers take part in inspection.

4. Buyers sometimes make mistakes in payments.

5. The Seller is not responsible for any damage or breakage of the goods.

6. The marking is made with any paint in English and Ukrainian.

7. Packing and marking very seldom cause problems.

Exercise XII. Here are some phrases using numbers in payments:

a) Decide which of the phrases on the Right go with which figures in the Left:

1. Invoice No.508/19g 2. a gross profit of 14.5% 3. 31 August 1997 4. The list price is &41,337   5. profit before interest and tax of& 1,457,000 6. an annual rate of interest of 26,8% 7. a handling charge of 1,5% 8. total interest charges of &3.66 9. $673m operating profits

A B C D   E   F   G   H   I

three pounds sixty-six fourteen point five per cent twenty-six point eight per cent forty-one thousand three hundred and thirty-seven one million four hundred and fifty-seven thousand six hundred and seventy-three million   the thirty-first of August nineteen ninety-seven one and a half per cent five o eight stroke nineteen G or five zero eight oblique nineteen G

b) Which items are left over? Write them out as figures.

Exercise XIII. Study some English proverbs and explain them:

1. No song, no supper.

2. That is a horse of another co lour.

3. The exception proves the rule.

4. Pay somebody back in his own coin.

5. Second thoughts are best.

Supplementary Information

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