Since our terms of payment are acceptable to other buyers, we trust you will agree to do business with us on these terms.（英译中)

e been in () since 1923 and can boast having vast and wide experience in all lines we handle. Our Bankers are Bank of China, and the Hong Kong and Shanghai Banking Corporation of Hong Kong, from whom you will be able to () all the information you may require in regard to our business integrity and financial ().We shall be () if you let us know your trade terms, etc. and forward samples and other helpful literature with a view to getting into business in near future. We hope this letter will be a forerunner to many years of profitable business to both parties and look forward to the () of hearing from you.

A: Very well, we have settled everything about this transaction, except the terms of payment.

B: As you know, we prefer the L/C 20 days in advance which expires 15 days after receiving the paking list.

A: I suppose you have known our financial standing and credit well now after our long-term cooperation．We know an irrevocable L/C can ensure that the seller gets payment duly．But, on the other hand, it would increase the buying cost．Therefore, could you consider giving us D/P this time？

B: I am sorry．But our rules only allow us to accept other terms of payment by L/C, although the buyer has had two or three transactions with us before.

A: But why not if you have known the buyer's credit after several deals？

B: We hope you can understand．We have got some serious lessons from the credulity．One of them was through D/P documentary collection．When the shipment worth US ＄50000 was effected, the buyer refused to make the payment．But we can do nothing with it．And that buyer had had one or two deals before this one.

A: I see．But the flexible terms of payment will definitely bring you more orders as well as facilitate the buyers' purchasing.

B: Sure．We don't mean we won't accept other terms of payment forever．As a matter of fact, we will do so when we have known well about the buyer's credit after a real long-term cooperation.

Complaints caused by not delivering according to the time and quantity

In the fall of 2006 ,one of our trading companies concluded a substantial rice business with an old customer in Africa. The terms of delivery are : shipment is to be made in equal monthly lots beginning from December,2006 to June,2007 and payment is to be made by irrevocable letter of credit 60 days after the date of the bill of lading. The customer established the L/C in time and all particulars of the rice, such as the name , specifications , unit price,total price and total quantity are in conformity with the contract. But the terms of shipment only stated " the latest date of shipment is June 30 ,to be shipped in several lots".

The staff in our trading company made the first shipment in December according to the quantity stated in the contract. However in order to export more and eam more foreign exchange earlier, they advanced the time of shipment regardless the shipment terms stipulated in the contract. In January 2007 , our company shipped the quantity of the first quarter once , and in February made the third shipment for the rest quantity that should be delivered in the second quarter, since our staff had not found any specifications "shipment is to be made in equal lots" in the L/C. At the same time our bank negotiated against presentation of the stipulated documents and subsequently asked the opening bank to pay for the goods. The opening bank examined the L/C and confirmed that the L/C had no error in it.

After receiving the shipping advice, the African customer found that the delivered quantity of the rice both in the second lot and third lot were not in accordance with the shipment terms stipulated in the contract, so a claim was filed by the customer against our trading company for default shipment. The amount claimed involved the added fees of chartering warehouse for the delivered goods, the interest and other charges etc. The two parties negotiated the compensation for several times, finally our company accepted the opposing party's opinion and agreed that the purchase price for the last two lots was to be paid four months later, that meant our company would receive the payment a few months later than che original stated time. According to Lhe current price in the international market at that time, our trading company suffered the loss equivalent to 10 percent of the original selling price.

Questions :

(1) What is the relationship between the letter of credit and the transaction contract？

(2) Which proof must the two parties concerned base on when they perform their obligations？

(Translate the case into Chinese and then answer the question)

Helpful hint: It is stipulated in Article 4 of the Uniform Customs and Practice for Documentary Credits that "in credit operations all parties concerned deal in documents and not in goods , service and/or other performance to which the documents may relate" .

Napoleon once called the British " a nation of shopkeepers" . That was intended as an insult , but had he called us a nation of traders it could not have been disputed. In Britain we buy and sell more per head of population than the people of any other country. Our island is too small to grow enough food for our people and so we need to eam enough from our exports to sustain our population.

One complication of export trade is that each country has its own independent currency system; and another is that many countries impose custom duties or other restrictions on imports.

The would-be exporter is faced with a number of problems. First there is the need to find a customer for his goods. The actual operation of selling is made more difficult because of language barriers and cultural differences. There are also additional transport problems because of the greater distances involved and often unfamiliar territories. When the manufacturer turns from selling at home to selling overseas, his problems are magnified. This is particularly true in terms of finance.

The first financial problem facing the exporter is the time taken to deliver his goods. There could be a long delay while his merchandise is in transit between London and, say, Karachi. He has incurred the costs of production, but when is he going to be paid？ The second problem is even more serious. How sure can he be that he is going to be paid at all？ And even when he receives payment his troubles may not be over. If he is paid for his goods in other currency other than sterling, and what if the other currency has fallen in value since the contract is made？ These are the perennial problems for the exporter.

Fortunately for our exporters and for our economy generally, help is available both from the government and the banks. From the government side, the Export Credits Guarantee Department offers British exporters, in return for a fee, insurance against bad debts incurred as a result of sales to foreign buyers. The Export Intelligence Department also helps by providing them with useful advice and information. The most straightforward method of financing the operations for the exporter is to borrow the necessary funds from his bank. This way he can ship his goods abroad and draw on his bank for the funds needed to carry on production while he is awaiting the proceeds. But of course the borrowings from the bank will lower his p rofit margins.

Another method of financing international trade is by documentary credit. A document known as a bill of exchange is drawn by the importer in favor of the exporter and, although the bill of exchange is a very convenient method of payment for oversea trade, once again it serves to reduce the profit margin for the exporter.

Questions for reading :

As we consider our changing language, we should note here two developments that are of special and immediate importance to us. One is that since the time of the Anglo-Saxons there has been an almost complete reversal of the different devices for showing the relationship of words in a sentence. Anglo-Saxon (old English ) was a language of many inflections. Modem English has few inflections. (78) We must now depend largely on word order and function words to convey the meanings that the older language did by means of changes in the forms of words. Function words, you should understand, are words such as prepositions, conjunctions, and a few others that are used primarily to show relationships among other words. A few inflections, however, have survived.

And when some word inflections come into conflict with word order, there may be trouble for the users of the language, as we shall see later when we turn our attention to such matters as WHO or WHOM and ME or I. The second fact we must consider is that as language itself changes, our attitudes toward language forms change also. The eighteenth century, for example, produced from various sources a tendency to fix the language into patterns not always set in, which grew until at the present time there is a strong tendency to restudy and re-evaluate language practices in terms of the ways in which people speak and write.

In contrast to the earlier linguists, modem linguists tend to ______ .

A．attempt to continue the standardization of the language

B．evaluate language practices in terms of current speech rather than standards or proper patterns

C．be more concerned about the improvement of the language than its analysis or history

D．be more aware of the roles of the language usage

A.terms

B.term

C.relations

D.friendship

A.came, accepted

B.come, unacceptable

C.arrived, accepting

D.arrive, acceptable

A.against

B.for

C.in