Contract No 32-1

Moscow September 4th, 1994

Foreign trade company Chemico, Moscow, hereinafter referred to as the Sellers, on the one part, and Messrs. Petro Co., Liverpool, England, hereinafter referred to as the Buyers, on the other part, have concluded the present Contract to the following effect.

The Sellers have sold and the Buyers have bought on с i f terms 10 000 kgs. of Chemicals ST to be delivered in the fourth quarter of 1994. Partial shipments are allowed. The quality of the Chemicals is to be confirmed by certificate issued by a competent independent and recognized laboratory. The Chemicals are to be packed in plastic bags.

The price is 175 English pounds sterling per kilo с i f Liverpool. The total value of the Contract is GBP 1750,000 (one million seven hundred and fifty thousand English pounds sterling).

The date of the bill of lading issued in the name of the Buyers is to be considered the date of delivery. Payment for the Chemicals delivered under the present Contract is to be made by a letter of credit on the presentation of the following documents:

1. Sellers' Commercial Invoice.

2. Full set of clean on board Bills of Lading.

3. Quality Certificate issued by the laboratory.

4. Weight Certificate issued by the recognized company.

5. Certificate of Origin issued by the Chamber of Commerce and Industry.

6. Insurance Policy issued by the State Insurance company. Payment is to be made through the National Bank, Liverpool.

III. Answer the following questions:

1. What kind of document is a contract?

2. What do the contract clauses include?

3. Who has concluded the Contract No 32-1?

4. What is the subject of the contract?

5. What can you say about the quality of the goods?

6. What are the terms of payment?

I. Translate the following speech patterns and memorize them:

We are interested in establishing contacts with you.

What's your final decision?

We are quite able to meet the dates.

We would like to give us a discount of …%.

As a special concession to a new customer…

These terms are acceptable to us.

II. Read the conversation and practice it in pairs.