A: I made a very close study of the draft contract last night. B: Any questions？ A: Yes．There are
A: I made a very close study of the draft contract last night.
B: Any questions？
A: Yes．There are a few points which I'd like to bring up．First, the packing．It's stipulated in the contract that all the machine parts should be packed in wooden cases．This can be done with the machine parts, but it's impossible to pack a truck base like that.
B: I see.
A: Second, about the terms of payment．Your draft contract says that payment is to be made by D/P．This is not our practice．We prefer to have the payment made by L/C through a negotiating bank in France.
B: And…
A: And the third point is about arbitration．It's stipulated that arbitration shall take place in China．In all our past contracts signed with you, it was stipulated that arbitration took place in a third country.
B: Yes, that's right.
A: But how is it that this time you wish to have it carried out in China？
B: Shall we take up the matter point by point？
A: That's a good idea.
B: Now, the first point is about packing．We agree to a different packing for the truck.
A: This can easily be done.
B: Second, about terms of payment by L/C.
A: Thank you.
B: As for arbitration, in our dealings with many countries, arbitration is to be carried out in China．The Arbitration Commission of CCPIT enjoys a high prestige among friendly companies．Personally I hope you'll accept this clause．Furthermore, the disputes that have arisen from our business transaction were all settled through friendly consultations．Very rarely was arbitration restored to.
A: I see．OK．The new arbitration clause is acceptable．Is there anything else？
B: As far as the contract stipulations are concerned, there is nothing more．Thank you very much.
A: When should we sign the contract？
B: We'I1 revise the contract this evening, and have it ready to be signed tomorrow morning at ten．How's that？
A: Perfect.
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