Settlement of Accounts - раздел Философия, Part III CUSTOMS Unit VIII CUSTOMS TARIFFS, TAXES AND DUTIES When The Buyer’S Order Is Received By The Manufacturer It Is Acknowledged By ...
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 remittance6 nor 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 of7 $ ... due to invoice No ... Kindly advise us if there are any sound reasons8 for 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.
Unit VIII CUSTOMS TARIFFS TAXES AND DUTIES... EPISODE Customs Tariffs in Russia In... Vocabulary Notes on the Text...
Если Вам нужно дополнительный материал на эту тему, или Вы не нашли то, что искали, рекомендуем воспользоваться поиском по нашей базе работ:
Settlement of Accounts
Что будем делать с полученным материалом:
Если этот материал оказался полезным ля Вас, Вы можете сохранить его на свою страничку в социальных сетях:
Customs Tariffs in Russia
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 d
Read and translate the text.
2. Translate the following words and learn their pronunciation:
inflation; intervention; imposition; consumption; resourses; entities; tariffs; vehicles; materials; status
Vocabulary and Speech Exercises
9. Insert appropriate prepositions:
1. All taxes, customs duties and other charges levied__connection __the performance__this Contract__Russia are to be paid__the Sellers
Free Econimic Zones (FEZ)
A: I say, did you hear anything about free economic zones?
В: What actually interests you about them?
A: Well, I have a lot of questions. What are they? Who organized them? What i
Read and translate the dialogue.
2. Give English equivalents of the following Russian phrases:
по инициативе местных властей; с разрешения центрального правительства; независимые структурные образования;
Export-Import Documentation
The acquisition of overseas customers is only the first step in selling goods abroad. The job is not complete until a consignee has physically received the consignment and the consigner has been pa
Read and translate the text.
2. Translate the following words and learn their pronunciation:
acquisition; consequence; consignee; cycle; requirements; deferment; certificate; charges; contents; dimens
Vocabulary and Speech Exercises
7. Read and translate the following:
1) The commercial invoice contains the names and addresses of the Sellers and the Buyers, a full description of the goods delivered in
Customs Control of the Cargo
Customs Officer: Good morning. Who’s the captain here?
Captain: Good morning. My name is Brook. What can I do for you?
Customs Officer: Customs control. Please be ready to complet
Read and translate the dialogue.
2. Give the English equivalents of:
таможенный контроль; выполнять таможенные формальности; маршрут; страховой полис; сертификат заводских испытаний; комплект отгрузочных
Vocabulary and Speech Exercises
7. Conduct the following two-way translation:
1. Через какие таможенные формальности должен пройти пассажир, прибывающий в нашу страну или убываю
Read and translate the text.
2. Translate the following words and phrases and learn their pronunciation:
machinery equipment; voyage; vessel; merchandise; harbour; freight rates; quote; particulars; s
Transport Documentation
Every mode of transport has its own specific document which remains the same irrespective of the method of transportation. For air transport it is the air waybill, referred to as the AWB, while for
Read and translate the text.
2. Explain the meaning of the following words and phrases in English:
a CMR form; a bill of lading; an air waybill; a carrier; a consignment note; a haulier; a freight for
Vocabulary and Speech Exercises
6. Complete the following sentences using the appropriate words and word expressions from the box below:
commodity; import or export documents; p
Read and translate the dialogue.
2. Find in the text English equivalents of the following:
взять на себя управление таможенной разведывательной службой; понимание роли разведывательного таможенного управл
Vocabulary and Speech Exercises
5. Read and translate the following text:
Abridged from Pulcovo Aviation Enterprise Inflight magazine.
The struggle against smuggling and violation of Cu
Chartering of Ships
When the senders of goods have very large shipments to make, especially when it concerns bulk cargoes, it is of greater advantage to them to have a whole ship at their disposal. They do not need to
Read and translate the text.
2. Translate the following words and learn their pronunciation:
shipowners; brokers; crews; bulk; cargo; exchange; tramp; fleet; slowness; apparatus; chartering; intermedi
Types of Payments in Foreign Trade
Payment of goods supplied in the local trade is a rather simple matter. It is made either in advance or within a sensibly short period after delivery. If a buyer fails to pay, there comes legal act
Read and translate the text.
2. Translate the following words and learn their pronunciation:
acceptor; creditor; debtor; discredit; failure; reputation; transference; transaction; binding; fundamental
Vocabulary and Speech Exercises
6. Fill in the required prepositions:
1) Payment__goods__the home trade is made either__advance or__a reasonably short period__delivery.
2) There is little time l
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.
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 de
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; total
The Reason For Insuring Goods
The general idea of insurance is to gain indemnity1 in the case of any happening that may cause loss of money.
Insurance has become more and more significant as commerce has dev
Read and translate the text.
2. Translate the following words and learn their pronunciation:
indemnity; burglary; threat; premium; coverage; average; pilferage; vibration; hazards; adventure; financia
Vocabulary and Speech Exercises
9. Insert the appropriate prepositions:
1) Nowadays carrying__goods can be effected__sea,__air,__rail and__road. One transaction may involve both land and sea transportati
Ask eight questions about the previous text.
12. Give a free translation of the text:
Страхование - неотъемлемая часть повседневной жизни американцев. В семейном бюджете различного вида страховкам обычно отводится зн
Making an Insurance Claim
- Look, it’s all very well if the goods collected from the port, airport or whatever station is agreed upon are in good condition. But what if as a consignee I got my goods damaged? What am I suppo
Read and translate the dialogue.
2. Pronounce the following words correctly:
circumstances; procedure; nature; replacement; compensation; indemnity; surveyor; qualified; disinterested; scratched; jeopardi
Vocabulary and Speech Exercises
8. Fill in the missing prepositions:
1) Goods are normally insured__certain risks. They are usually insured__the full amount__their value. If they are found__arrival__the
Complaints and Replies to Compalaints
Complaints may be of several kinds, and may arise from delivery of damaged goods, wrong goods, or too few or too many goods. Even if the right articles are supplied in the right quantities, they ma
Read and translate the text.
2. Answer the following questions:
1) What may complaints arise from?
2) In what case do we complain of the quality of goods?
3) What should you mention
Новости и инфо для студентов