VII. Translate the following part of contract into Russian and answer the questions

VI. Translate from Russian into English

V. Translate into Russian

IV. Answer the following questions

1. Do offers usually state terms of payment?

2. What particulars do terms of payment cover?

3. What terms of payment are practised in foreign trade?

4. On what does the choice of terms of payment depend?

5. What example of terms of payment is quoted in the text?

by banker's transfer

by a letter of credit

for collection

by drafts

on an open account

A. Предмет контракта и общая сумма контракта; быть неотъемлемой частью контракта; сопровождение и пуск оборудо­вания; запасные части оборудования; товары, поставляемые согласно настоящему контракту; цена остается неизменной на протяжении всего срока действия контракта; место назначения указано в коносаменте; грузоотправитель и грузополучатель; товары должны быть отправлены из порта с первым же судном; срок поставки и дата поставки; товары должны быть поставлены в течение шести месяцев с момента оплаты; дата выдачи сквозного коносамента.

B. Обстоятельства непреодолимой силы; контракт становится действительным с момента его подписания; поставка производит­ся на условиях CIF Одесса; Продавец гарантирует, что поставляе­мое оборудование удовлетворяет требованиям приложения 5; нести ответственность перед Поку­пателем; маркировка, нанесенная несмываемой краской; оплата производится против предоставления следующих отгрузочных документов; выполнять контрактные обязательства; все споры и разногласия, возникающие при выполнении настоящего Контракта.

The Seller will take care of, and bear all the expenses connected with, obtaining the necessary license for exporting the goods under the present Contract from the Port of Origin to the Ukraine.

Not later than a month from the effective date of the Contract, the Seller is to advise the Buyer if the export license has been granted or is not required.

If the Seller is unable to obtain the export license and the Buyer is unable to obtain the import license within the time stipulated above, or the export/import license is revoked by the appropriate authorities of the Seller's/Buyer's country before the deliveries are completed, the Seller/Buyer will have the right to cancel the Contract wholly or par­tially.

a) Who is supposed to obtain the export/import license?

b) What right will the parties exercise if the appropriate authorities revoke the import/export license?

VIII. Work as one group. Decide which type of contract is characterized by the following descriptions:

a) the terms of delivery in accordance with which the Seller pays for transportation and insurance of goods until they arrived at the ship and the Buyer pays for loading the goods;

b) the terms of delivery in accordance with which the Seller pays for transportation and insurance of goods to the point of loading and their shipment on board a ship;

c) the terms of delivery in accordance with which the Seller pays for loading and transporting goods but the Buyer pays the insur­ance costs once the goods have been loaded;

d) the terms Of delivery in accordance with which die Seller pays for transportation to the port of destination, costs of loading and arranges marine insurance of the goods for the time of trans­portation.

IX. Which word –combination is odd in the following list?

bill of lading certificate of origin

waybill packing sheet

shipping specification delay in delivery

certificate of quality insurance policy

Unit 4.5. The Main Characteristics of the Contract of Sale

I. Pre-reading task

What can the text be about? Give your own predictions

II. Read the text to fulfil the tasks

1. The main points of the contract. A written contract of sale is made out in the form of a document signed both by the Buyers and the Sellers.

When there is no necessity of introducing special terms and conditions into the contract of sale, Russian associations use standard forms of contracts containing the following clauses (articles):

1. Naming (definition) of the Parties

2. Subject of the contract and volume of delivery

3. Prices and the total value (amount) of the contract (including terms of delivery)

4. Time (dates) of delivery

5. Terms of payment

6. Transportation (=carriage) of goods (packing and marking, ship­ment)

7. The Sellers' guarantees (the quality of the goods)

8. Sanctions and compensation for damage

9. Insurance

10. Force majeure circumstances

11. Arbitration

12. General provisions

2. General and specific conditions. Also, there may be standard General Conditions which form an integral part of the contract and are either printed on the reverse side of the contract or at the foot of the face of the contract or attached to it.

In the case of a contract for sophisticated machinery and equipment there may be other clauses: technical conditions, test and inspection conditions, requirements to technical documentation, supervision of erection and putting the machinery into operation (commissioning), and sending specialists for the purpose, training of the Buyers' specialist, the Sellers' obligations for technical servicing and the like. These clauses may be included in the contract itself or in the Appendices to the contract which are an integral part of it.

When detailed special terms and conditions are introduced into the contract or the agreement, it is customary to draw up an individual contract or agreement in each particular case (e.g. a turnkey contract, a license agreement).

Sometimes Russian organizations use standard forms of contracts worked out by the biggest federations and associations of merchants and importers abroad, by exchanges, Chambers of Commerce and the like for use in particular trade.

These standard forms of contracts, for example, are used in grain trade, seed, sugar, cotton and other trades.

In the sale of Russian timber c.i.f. British ports a special form of contract has been adopted by the Timber Trade Federation of the UK and by V/O "Exportes".

Text-study

III. Learn the following words

contract of sale - договор продажи

clause - статья, пункт, условие

total value - общая стоимость

arbitration - арбитражное разбирательство

sophisticated - сложный; современный, передовой

supervision erection - 1) возведение; монтаж; 2) сборка; установка

turnkey contract - контракт на возведение и сдачу в эксплуатацию объекта "под ключ"

IV. Answer the following questions:

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