LETTERS

Proper business letter writing is very important for normal commercial activity. In spite of the development of telephone, telex and telegraphic ways of communication and the increasing personal contacts in international trade, the writing of letters continues. In fact most telephoned and telegraphed messages have to be confirmed by letters.

So every good businessman should be competent in writing effective business letters in English. It is not just the matter of translating Ukrainian business phrases literally into English because each language has its own characteristic forms and phrases.

It is also useful to remember that the subject of the routine business letters in export-import trade lacks variety. Therefore, first, certain accepted standard phrases are in general use and secondly, Form letters (= standard letters) may be used: it facilitates the communication because the repetitive nature of many business transactions and situations makes the use of standard letters a time-saving device.

However, whether you write a special letter or make use of a standard letter, you should know the main parts of any business letter and its layout.

Business letters are usually written on printed company-form (letter-paper). The letterhead (the heading) gives the name of the company, the postal and telegraphic addresses, the telephone number(s), the number of the telex (-es) and when telefacses appeared, their number, too; sometimes some other information such as: the names of important officials (e.g. director), the particular official, to whom the company may wish to have all communications addressed, spaces for letter indexes (references) and the date.

1

THE LAYOUT AND PARTS OF A BUSINESS LETTER

The ordinary business letter comprises the following principal parts:(1) The Date.(2) The Inside Address.(3) The Opening Salutation.(4) The Subject Heading.(5) The Opening Paragraph.(6) The Body of the Letter.(7) The Closing Paragraph.(8) The Complimentary Closing.(9) The Signature.(10) Enclosures, Postscripts and copies sent.

(1) THE DATEIn English business letters the date (day, month and year) is typed on the

right-hand side. It is customary to type the date in full, not just in figures e.g. 2 nd Apr, 1990 which is pronounced, “the second of April nineteen ninety”. The name of the month may be abbreviated: January, to Jan, February to Feb, March to Mar, April to Apr., June to Jun, August to Aug., September to Sept, October to Oct, November to Nov, December to Dec. Only May and July are written in full. In American business letters the date is written in the following way: Apr 2, 1990 which is read: “April second, nineteen ninety.”

The name of the month should not be stated in figures, as it may easily be confusing, because in the USA it is the practice to write dates as seen above in a different order: month, day and year.

e.g. 9.2.90 means on the second of September, 1990.

(2) THE INSIDE ADDRESSThe name and address of the company written to are usually typed on the left-

hand side against the margin, all lines starting at the same margin, not diagonally.Firms are addressed as Messrs (the plural of Mr) only when the firm’s name

includes a personal name without any other courtesy title and only when the firms are partnerships.

e.g. Messrs Brown & Smith,25 High Holborn,London, W.C.I.

But:Sir James Brown & Co.,14, Manor Gardens,LONGBURY,Hants.’

The Brown Electrical Co.,26, Exton Square,LONDON, W.C. 3.

2

Messrs is never used when addressing a registered company whether a public limited company (PLC) or a private limited company (LTD). It is recommended to address the correspondence direct to the company’s representative for whom it is intended – the managing director, the sales manager, the export manager, and so on, in which case the company is specified but not addressed. The name of the company becomes part of the address in the same way as the name of the street or town. If we do not know which of the company’s officers will deal with our letter, we should address it to ‘The Company Secretary’, since by the Companies Act every registered company must have one.

e.g. The Secretary, Brown & Co. Plc

Letters to men can be addressed as follows: “Mr Brown, Mr T. Brown, Mr Thomas Brown” (preferably the way he signs the letters). Unmarried women and young girls can be addressed as ‘Miss’. Married women are addressed Mrs M(ary) Brown (previously it was Mrs T(homas) Brown). Where it is not known whether a woman addressed is married or single ‘Ms’ has recently crept into use instead of ‘Miss’ and ‘Mrs’. When in doubt use ‘Miss’ rather than ‘Mrs’. Should there be doubt about the sex of the person addressed, use ‘Mr’.

If the letter is addressed to a person, whose exact address is unknown, it may be sent to an organization (for example the Trade Delegation or a firm), who can pass the letter on or send it to the person. In these cases the words “Care of” (-in care of) should be written before the name of the organization (the Trade Delegation or the firm).

e.g.Mr F. Popov,C/O the Trade Delegation of Russia32, Highgate West Hill,LONDON, N. 6,England

After the name of the company the number of the house and the name of the street are given, then the name of the town and of the county. In the case of big towns in Great Britain no name of a county is required, but small towns usually need an indication of a county in the address, especially as the names of small towns are often duplicated (for example, in Great Britain there are two Richmonds – one in Surrey and one in Yorkshire).

In Britain the recommended form of postal address has the Post Town in capital letters, followed by the country in small letters, followed by the post-code (whose system has now been introduced). The use of the code as part of the address (e.g. CRO 5BL for Croydon) speeds delivery by enabling letters to be sorted mechanically.

When writing letters to other countries, always give the name of the country, even if the town is the country’s capital. There is, foe example, a London in England and another in Canada, a Boston in England and another in the USA, a Tripoly in Libya and another in the Lebanon, a Blantyre in Scotland and another in Malawi.

3

For the same reason, when writing to firms in the USA you must add the name of the State after the name of the town: CHICAGO Ill. (Illinois), PENNSYLVANIA, VA. (Virginia). The name of the city New York is usually followed by N.Y. (New York) or N.J. (New Jersey).

To secure a balanced layout and also accommodate the use of “window” type envelopes, (transparent-window envelopes), the placing of the inside address, i.e. the correspondent’s full address, near the bottom left-hand corner of the letter is also acceptable. If a letter is addressed to a company, and the writer wishes to direct it to a particular person, the words “For the attention of” … or just “Attention of” … (giving the name of the person) should be just above the salutation, as they form no part of a letter.

e.g. Brown & Co. Plc., 34, High Street, LONDON, E.C. 3. Attention of Mr Popov Dear Sirs,

(3) THE OPENING SALUTATIONThe Salutation varies according to circumstances and should be in harmony

with the Inside Address and the Complimentary Closing. If the letter is addressed to the company (which is not recommended, but very often done), the form of addressing is: Dear Sirs,; if the letter is addressed to an individual, the most usual forms are: Dear Sir, or Dear Madam, (it applies to both married and single women). These are the usual greetings in English business letters. Americans prefer “Gentlemen:” and if they use “Dear Sirs:”, “Dear Madam:”, they use them with a colon instead of a comma.

When the correspondent is unknown to you and may be either a man or a woman, always use the form “Dear Sir.”. If the correspondent is known to you personally, or if your firm has traded with his firm for some time, you may use a warmer and more friendly greeting “Dear Mr Brown,”.

(4) THE SUBJECT HEADINGThe Subject Heading indicates the subject-matter of the letter (its topic), thus

enabling the reader to see immediately what the letter is about, and is placed just after (below) the salutation (since it forms part of the letter) and in the middle of the page. In front of it the wording “Re-“ (short of the latin in re) meaning ‘regarding’ was formerly used. Now it is out of date. ‘Abt’ (short for “About’) may be used. Or the Subject Heading is just underlined, it is sometimes written in capital letters.

This title to a letter, however, is not always required and the date of a letter referred to in the first line of the answer is often indication enough of what the subject is.

e.g.Dear Sir,

Abt: Order No. 342 of 3rd Apr., 1990

Dear Madam,YOUR ENQUIRY OF 5TH MAY, 1990

4

Dear Mr Brown,Abt: the arrival of our inspectors

(5) THE OPENING PARAGRAPHThe opening paragraph will often state the subject-matter of the letter by

giving the date of the letter, which is being answered, and the writers feeling on the subject: pleasure, regret, surprise or gratitude. A short opening sentence will often attract attention more successfully than a longer one.

Useful phrases and sentences:

a) In reply to your letter of 2nd Mar. this year we would like to inform you …(= we are writing to inform)We thank you for your letter dated 3rd Jun. and write to tell you … (wish to inform you…)

b) We are sorry to have to remind you … To your regret we shall have to …We regret to inform you that …

c) We are glad to inform you …We are happy to tell you …We are pleased to inform you …We are surprised to learn that …Further to our letter of 3rd Jun. …With reference to (=Referring to…) the enquiry of 4th July, 199 …We refer to your Order No.256 and …We have received your letter dated 13th Mar. …We thank you for the letter of 13th Mar. …

Корисні звороти та фрази:

а) У відповідь на Ваш лист від 2 березня цьго року повідомляємо Вам, що … Дякуємо за Ваш лист від 3 червня і повідомляємо Вам, що …б) Нажаль, нам доводиться нагадати Вам, що …

Нажаль, ми змушені …Нажаль, повідомляємо Вам, що …в) Із задоволенням повідомляємо Вам, що …

Ми із здивуванням довідались, що ...На додаток до нашого листа від 3 червня…Посилаючись на запрос від 4 липня 199 … р.Ми посилаємось на Ваш заказ № 256 та …Підтвержуємо отримання Вашого листа від 13 березня …

5

6

(6) THE BODY OF THE LETTERA letter should only deal with one specific subject as several subjects may

require attention in different departments and may complicate the filing system. Business letters should be simple and clear, polite and sincere, concise and brief. That means using simple, natural, short words and sentences; admittance of mistakes openly and sincerely; using concise words and sentences instead of wordy ones; and avoiding repetition or needless words and information. Express yourself in a friendly way and with a simple dignity.

To make a letter easier to read and to a certain extent more attractive, divide it into paragraphs, each paragraph dealing with one idea, one aspect of the subject or giving one detail.

If several paragraphs deal with the same subject-matter (topic or theme), they should fit together smoothly, i.e. each new paragraph giving a new aspect of the topic under consideration should follow the previous one naturally. This is done either by numbering the paragraphs or by using connective words, such as:

However, still, yet, but - але, все ж, однакnevertheless - тим не меншotherwise - інакше, у протилежному випадкуon the contrary - навпакиagain - і щеalso, in addition, besides - крім тогоso, therefore, in this way - тому, таким чиномin short - короче кажучіas a result - у наслідкуon the other hand - з іншого боку

and some others.If a letter is lengthy, the paragraphs may be given headings, which may be

typed in ordinary or capital letters, followed by a full-stop, colon or a dash.If the headings are typed in ordinary letters, they should be underlined to

distinguish between heading and text.If more pages than one are written, they should be numbered.The second and following pages are typed on blank sheets (without the

letterhead). The name or initials of the recipient should be placed at the top of left-hand margin of all continuation sheets, followed by the date after the page number.

Apart from those phrases and sentences expressing regret, gratitude and other feelings, given above and used in “The Opening Paragraph” the following may be useful:

1) to express apologies and regrets

We regret being unable to …- Співчуваємо, що ми не можемо…Unfortunately we cannot … - Нажаль, ми не можемо …Please accept our apologies for … - Просимо прийняти наші вибачення…We express our apology that… - Вибачте нас за…We offer (make) our apology… - Ми приносимо свої вибачення за…

2) to express gratitude

We would be very much obliged - Ми були б дуже вдячні…I shall be grateful to you… - Ми будемо Вам вдячніWe shall appreciate it if…- Ми будемо Вам вдячні, якщо…We are indebted to the Chamber of Ми вдячні за Вашу адресуCommerce and Industry for your Торгівельно-промисловійAddress. палаті.We owe your address to … a certain Ми вдячні за Вашу адресу …company. такій-то фірмі.

3) To express request

Please let us know… Просимо Вас повідомити нам...We would ask (request) you to… Ми просили б Вас...We’d be obliged if… Ми були б зобов’язані, якщо б...We’d glad to have your latest catalogue. Ми б з радістю отримали Ваш

останній каталог.Kindly inform us of the position of the Просимо Вам повідомляти про хід.order. виконання замовлення

4) To express confirmationWe confirm our consent to the alterations. Підтверджуємо свою згоду на дані

зміни..Please acknowledge receipt of our Invoice. Просимо Вам підтвердити отримання

нашого рахунку-фактури.

(7) THE CLOSING PARAGRAPHThe closing paragraph contains a statement of the writer’s intentions, hopes

and expectations about future actions, i.e. it serves as a summary of what has been discussed before and what is going to be the next step.

Useful phrases and sentences:We look forward to trading with you Із зацікавленістю очікуємо розвитку to the mutual benefit of our companies. торгівлі з Вами на благо обох сторін.We hope to establish fruitful business Сподіваємось встановити з Вашою Relations with your company. фірмою корисні ділові стосунки.We hope that you will act as requested. Сподіваємось, що Ви учините так, як

ми Вас просимо.We look forward to hearing from you soon. З нетерпінням очікуємо Вашої

відповіді у найближчий час.Your prompt (early) reply will be Ми будемо вдячні за Вашу швидкуappreciated. відповідь.

(8) THE COMPLIMENTARY CLOSINGIt is a polite way of ending a letter. The expression used must suit the occasion

and match the opening salutation.

The standard form (formal)Dear Sir(s), (or Dear Madam),

Yours faithfully,

Informal (used between people who know each other and to add a friendly touch to a business letter) Dear Mr Brown,Dear Mrs Brown,

Yours sincerely,

To express a little warmer feeling than yours sincerely.”Dear Mr Popov,(or My Dear Mrs Smith,)

Yours very sincerely,

American form Gentlemen:

Yours truly,(Yours very truly,)

(9) THE SIGNATUREBusiness letters are signed by hand in ink, clearly and legibly. The same style

must always be adopted. The writer’s name and title are typed below the signature.The name of the company or of the organization for which the writer signs the

letter is typed under the complimentary closing (above the signature).If the writer signs the letter on behalf of a company or on behalf of another

person, the per pro. = p.pro. = p.p. (short of per procurationem) is used before the name. The person signing is empowered by a proper legal document (a power of attorney) to sign letters and other documents. Otherwise “For” is used before the name of the firm or person.

A letter having a per pro. signature, i.e. when on behalf of a company, should be written in the plural number.

Or you may put it the other way around: if you write the letter in the first-person plural, after the complimentary closing the name of the company (V/O) should be included. For example,

Yours faithfully,for V/O “Prodintorg”

(I.Pavlov)Director

Or Yours faithfully,per pro. THE ORIENTAL TRADINGCO.LTD

F.HowardSecretary

(10)ENCLOSURES AND POSTCRIPTSIf there is an enclosure (–s) to the letter, it should be clearly indicated by

typing the word ‘Enclosure’ or its abbreviation ‘Enc’ (not ‘Encl’ as is still used by our trading bodies though it is out dated) in the bottom left-hand corner of the page below the Signature. It may be preceded or followed by a figure indicating the number of enclosures if there is more than one, and the name of the documents in them, and the number of pages.

For example:Enc: Specification No. 13/45 (5 pages)Enc: (3) Invoice

Bill of Lading Insurance Policy (6 pages)

If there are copies of the letter to be sent to other addresses it is indicated under the Enclosure:

Copy: Ukrainian Trade Delegation

c.c. Ukrainian National Bank Ukrainian Trade Delegation

Postscript should be used as an emergency not as a normal conclusion only when information to be conveyed comes to hand after the letter proper has been completed. Otherwise it is a sign of bad construction of the letter. Postscript is abbreviated to PS (not P.S.). An additional postscript is labeled PPS.

1. Have a look at the letter paying attention to it structure? translate it into Ukrainian.

Bredgade 51,Sender’s address ---------------- DK 1260,

Copenhagen K,DENMARK

Date -------------------------------- 6th May 19___

Soundsonic Ltd.,Inside address-------------------- Warwick House,(Receiver’s address) Warwick Street,

Forest Hill,London SE23 1JFUNITED KINDIM

Attention line---------------------- For the attention of the Sales Manager

Salutation -------------------------- Dear Sir or Madam,

Please would you send me details of tour quadrophonic sound systems which were

Body of the letter------------------ advertised in the April edition of Sound Monthly?

I am particularly interested in the Omega range of equipment that you specialize in.

Complimentary close------------ Your faithfully,

B.Kaasen (Ms)Signature -------------------------- B. Kaasen

2. Here is the firm’s reply to the letter from the prospective customer in Denmark. It shows some further features of a normal business letter, and uses the kind of layout (blocked, open punctuation, etc.) which this book regards as standard.

______________________________________________

SOUNDSONIC Ltd.______________________________________________ Letterhead

Warwick House, Warwick Street, Forest Hill, London SE23 1JFChairman John Franks O.B.E. Directors S.B.Allen M.Sc., N. Ignot, R. Lichens B.A.

Telephone (081) 566 1861 Fax: (081) 566 1385 Telex: 819713

Your ref: 6 may 19____ ReferencesOur ref: DS/MRDate: 11th May 19____

Ms B.KaasenBredgade 51DK 1260Copenhagen KDENMAEK

Dear Ms Kaasen

Thank you very much for your enquiry which we received today.

I am enclosing our catalogue and price-list for the equipment you said you were interested in. I would like to draw your attention to pages 31-35 in the catalogue where you find full details of the Omega range.

We would welcome any further enquiries you have, and look forward to hearing from you.

Yours sincerely,

Mary Raynor (Ms)

p.p. D.Sampson ______ Per proSales manager ______ Company position

Enc. ______ Enclosure

3. The final letter in this section shows some further features of a business letter.

____________________________________

SOUNDSONIC Ltd.____________________________________

Warwick House, Warwick Street, Forest Hill, London SE23 1JFChairman John Franks O.B.E. Directors S.B. Allen M.Sc., N.Ignot, R. Lichens B.A.Telephone (081) 566 1861 Fax (081)566 1385 Telex: 819713

Your ref:Our ref: DS/MRDate: 21 July 19___

Ms B.KaasenBredgade 51DK 1260Copenhagen KDENMARK

Private andconfidential ----------- Private and confidential

Dear Ms Kaasen,

Subject title----------- Non-payment of invoice 322/17I am sorry to see that, despite several reminders, you have not yet paid the above-mentioned invoice. Unless, therefore, the account is cleared within 14 days of the above date, I shall haveno alternative but to place the matter in the hands of our solicitirs.

Yours sincerely,Mary Raynor (Ms)p.p. D.Sampson

Copies ----------------- c.c. Messrs. Poole &Jackson Ltd., Solicitors

Style and language of the letter

1. Commercial correspondence often suffers from an old-fashioned, pompous style of English which complicates the message and gives the reader the feeling that he is reading a language he does not understand. In this letter, all the writer is trying to do is explain why he delayed paying his account, but, because of the style, the letter is too long, and is difficult to write and read.

Dear Sir,

I beg to acknowledge receipt of your letter of the 15th inst. in connection with our not clearing our account which was outstanding as at the end of June.

Please accept our profuse apologies. We were unable to settle this matter due to the sudden demise of Mr Noel, our accountant, and as a result were unaware of those accounts which were to be cleared. We now, however, have managed to trace all our commitments and take pleasure in enclosing our remittance for ₤620 which we trust will settle our indebtedness.

We hope that this unforeseen incident did not in any way inconvenience you, nor lead you to believe that our not clearing our balance on the due date was an intention on our part to delay payment.

We remain, yours, etc…

2. Here is a simpler version of the letter. Mr Aldine will be satisfied with it because it tells him, in a simple and clear style, what he wants to know. First, his customer remembers his name. Second, he has apologized. Third, Mr Aldine knows his was not the only account that has not been paid, and knows why. Finally, he has his cheque.

Dear Mr Aldine,

I am replying to your letter of 15 July asking us to clear our June balance.

I apologize for not settling the account sooner, but due to the unfortunate death of Mr Noel, our accountant, we were not able to settle any of our outstanding balances.

Please find enclosed our cheque for ₤620, and accept our apologies for any inconvenience.

Yours sincerely,

3. CourtesyYour style should not, however, be so simple that it becomes discourteous. Here is an example of a letter that is so short and simple that it sounds rude.

Dear Mr Rohn,

I have already written to you concerning your outstanding debt of ₤591. This should have been cleared three months ago. You don't seem to want to co-operate in paving us, and therefore we will sue you if your debt is not cleared within the next ten days.

Yours, etc.

Content and Style1. Read this letter from a computer company to a company trainer, and fill in

the blanks with the correct verb taken from the list below.

leave will travel will be staying will have hadsuit will be met will be visiting will have returnedarrive will need will not be able

Dear Mr Jackson,

Re: Nicosia Computer Training Course

Thank you for your letter of 18 May giving us the dates of your visit. I am writing to inform you of the arrangements we have made on your behalf.

You (1) _________ at Larnaca airport by the company driver, and

(2)________________at the Amathus Beach Hotel for the first night. When you (3)______ Larnaca, you (4) __________ up toNicosia and spend four days at the training centre. Most of the trainee operators (5) __________ some experience of the new program by the time you (6)________, but they (7) _________ someinstruction on the more complex areas of the system.

Unfortunately, Mr Charalambides (8) ____________ to meet you on

Thursday 15 June, as you requested, because he (9)__________oursubsidiary in Spain. However, he (10) __________by the following Monday, 19 June, so I have arranged for him to see you at 2.30 p.m.

Please let me know if these arrangements (11) ____________you. I look forward to hearing from you.

Yours sincerely,Elena TheodorouElena TheodorouTraining Manager

2. Complete the following letter of enquiry with the correct prepositions.

Velo Sport AG Karlstr. 45 0-5230 Sommerda

The Sales DirectorUK Cycles Ltd

Borough HouseBorough RoadCleveland TS8 3BA

Dear Sir,

We read your advertisement (1)___________ racing cycles (2) ________ the current edition (3) _________________________ Cyclists and are interested (4) __________ your product, particularly touring bikes.

We are a large retail company (5) ____________ cycle shops throughout Germany and would like your catalogue and a price-list, quoting c.i.f. Berlin prices.

Please let us know your terms (6) ___________ trade, including quantity discounts, delivery dates, and any credit facilities your are prepared to offer (7) ___________ large orders.

We look forward (8) ____________ hearing (9) ___________ you soon.

Yours faithfully,Karl JanssenKarl JanssenManaging Director

Write a letter of reply from Robert Morris, Sales Director of UK Cycles, to Karl Janssen.

• Thank him for his letter, quoting the date.• Give him the following information:

Discounts - quantity discounts on orders over Ј10,000.Delivery time - usually three months after receipt of order.Credit - facilities only after trading for at least one year with the company.

• Thank him for his interest in your company, and close the letter in the appropriate manner.

3. Translate the letter into English.

От: "Sergey" <demyanov@elan-ua.net>Кому: <undisclosed-recipients:;>Отправлено: 6 февраля 2003 г. 11:17Присоединить: B6-Cover-v01.jpgТема: TANDEM-News

Шановні колеги!

Видавництво «Тандем» видало нову книгу: Прислів'я та приказки шістьма мовами: близько 2200 одиниць / Уклав Г. Бігун. 2-е вид., випр. і доп. - К.: Тандем, 2003. - 320 с. - Бібліогр.: с. 315-316. - Укр., лат., нім., рос., англ., пол.

Коротка анотація.• БІГУН Г. Вибрані пислів'я та приказки шістьма мовами. Навчальне видання.Збірник містить 220 систематизованих блоків з прислів'ями та приказками.У кожному блоці наведено семантичні еквіваленти українською, латинською,німецькою, російською, польською та англійською мовами разом з тлумаченнями.

Відібрані фразеологічні одиниці мають загальнокультурний, виховнийта філософський характер, іншомовні прислів'я та приказки наведено разомз дослівними перекладами. Подано алфавітний покажчик українських прислів'їв.Для школярів, студентів, учителів, перекладачів та усіх, хто цікавитьсянародною мудрістю.

Рекомендовано до друку:• Кафедрою латинської мови та медичної термінології Національного медичногоуніверситету їм. академіка Олександра Богомольця.• Кафедрою іноземної філології і перекладу Національного авіаційногоуніверситету України.• Асоціацією батьківської громадськості загальноосвітніх закладів м. Львова.

Обкладинка знаходиться у вкладеному файлі.Ціна передплати 4,00 Ціна післяплати 4,40

З повагою Сергій Дем’янов

4. Put the verbs in brackets into the gerund, (e.g. doing) or infinitive, (e.g. to do) in the following letter.

ExampleWe thought of (go) into this market.We thought of going into this market.

1. After (discuss) the terms of your offer, I regret (say) our board has decided (delay) itsdecision.

2. You probably remember us (ask) for trade and quantity discounts.3. Unfortunately, the discounts offered would not be sufficient (make) half

the profits we had calculated.4. I have pleasure in (enclose) your estimate.5. We would be interested in (retail) a selection of your products, and look

forward to (receive) your samples.6. After successfully (promote) this product in France, we now plan

(launch) it onto the Italian market.

Complete this letter of enquiry with the correct prepositions.

GDM Ltd516 Gipsey Rd Headington Oxford OX3 6BP UK

The ChairmanBusch AGLeopoldstr. 501D-8000 Munchen 3 10 June 19____

Dear Sir,

We were impressed (1) ______________your display (2) ___________ office Furniture (3) _____________ the Expoquip trade fair held (4) __________ Madrid (5) __________ January.

We are a group (6) ____________ retailers specializing (7) __________ the sale (8) _________________ top-quality non-electronic office equipment, and we are seeking a supplier (9) ______________ our stores.Could you send us your latest catalogue and price-list, details (10) ___________ materials used (11) ____________ your products, and information regarding credit terms and discounts?We look forward (12) ______________ receiving your reply.

Yours faithfully,Anne CroftAnne Croft (Miss)Sales Director

MEMORANDA

Memorandum (memorandum – Sg., memoranda – Pl.) is a short typed or written message sent from one person to another in an organisation. Some companies have pre-printed memo fprms, while others have a house style for the layout of memos. Thre are several different formats, but they all have the same elements:

the name of the writer, the name of the addressee, the date, the subject, the body of the memo.

1. Now read this memo from Gerd Busch AG to his secretaly. Use the information to write a letter of reply to Anne croft from the secretary, on Mr Busch’s behalf.

MEMO

To: Birgit Lange Date: 14 June 19___

From: G.Busch

Please reply to this letter. Send Miss Croft a catalogue and price-list and quote her c.i.f. prices to London.Mention also the following: 2-year guarantee on all our products Highest-quality materials used

No credit terms (our prices highly competitive due to small profit margins)Cash discount of 3 per cent offered

Do encourage her to contact us again.

Thanks.

TELEXESTelegrams sent with the help of teleprinters (teletypes) are called telexes.Telexes are mostly used for information which it is urgent for you to have or

to pass. The Telex network is world-wide and links over 400,000 subscribers in over fifty different countries. How wide is the Telex network nowadays can be seen just from one example: only one Japanese company “Mitsubisi Serdzi” has got 125 teleprinters all over the world and 60 teleprinters in Japan itself. They are all linked

with the Central Computer Exchange of the company in Tokyo by communication liners of 450,000 km long, which is 11 times longer than the circumference of the Earth.

All telex numbers are published in the Telex Directory. Company telex number(s) is (are) given on printed company-forms (company letter-paper) in the letterhead or at the bottom of the page: e.g. TLX No 783290, Telex 86286 Allman G, Telex: 667844 Simcar G. The telex system provides a 24-hour service, and messages may be sent to a subscriber even when his telepriter is unattended, if it has not been switched off. So it is possible to send messages at night ready to be dealt to be dealt with first thing next morning. All calls are charged on a time-and-distance basis.

In addition to standard telex equipment, which transmits messages as they are typed, there is special equipment for the transmission of messages automatically at high speed. This equipment may be fitted to the teleprinter and transmit messages on perforated tape at a continuous speed of 400 characters (or 66 words) a minute.

The advantages of automatic transmission are obvious.Here are Some

International Telex Abbreviations which may be useful to remember:ABS = absent, office closedATTN = for the attention ofFIN = end of messageNC = lines engagedOCC = customer engagedOK = agreedPLS/SVP = pleaseRPT = please repeat messageRYT = reference your telexTX/TLX =telexEEE/XXXX = an error, the next word replaces the last word

Telexes should be short, exact and clear. They are often written without the Opening Salutation or the Complimentary Closing and without paragraphs. Very often conjunctions, prepositions, pronouns and punctuation marks may be omitted if it does not impair the meaning of the message. To mark the end of the sentence the word “stop” or full stop may be used. As a rule no capital letters are used in telex messages.

SPECIMEN TELEXES

attn: vice general director petrov

pls confirm our understanding that your requirement will be the purchase of equipment in western countries in accordance with your own specifications and thus our company will not be required to carry out any engineering design work.regardshatton411194a tmi su667844 simcar g

attn: deputy director “techmashkhmapparat”informing you that our sales manager and myself will be in Moscow again 15-22 november inclusive. we wish to discuss delivery progress of current contract and your recent further enquiries to which quotations were mailed to you lately. pls advise as soon as possible by telex suitable firm date and time of our appointment. wednesday or thursday would be more convenient for us if that is ok with you.best regardsbottomley411194 tmi su848296 ihferm g

attn: dr groverre: adreement no i-73/79reference is made to our letter dated 10.10.91 about submitting an invoice to us every year to the amount as stated in para. 3.2. of the licence agreement stop we would ask you to send us respective invoice in august this year.regardslicensintorg7256545 sel d 411246 lit su

TELEGRAMS (CABLES)Messages transmitted by telegraph are called telegrams if they are sent by

means of wire and cables (cablegrams) if they are sent by means of cable (laid underground or on the ocean bottom). Nowadays in Britain, and in most other English-speaking countries, however, the word “cable” is used for any telegrams which are sent out of the country. It is even applicable to wireless communication (to radiograms). Telegrams are usually typed out in capital letters without any punctuation, the word “stop” may be used if necessary to make the meaning clear.

Since telegrams are charged according to the number of words, they must be economically worded, i.e. kept short:

1. By means of omitting nonessential words such as articles, link words, pronouns as subjects, some preposition (not “within” or “without”) and other auxiliary parts of the sentence. But the message to be sent must not be cut down so far as to make it ambiguous.

2. By leaving out the Opening Salutation and Complimentary Closing. Such courtesy-words, however, as “thanks (thank you-TU), please (PLS), kindly, appreciate, regards (RGDS) and some others are widely used.

3. By using abbreviations such as:ABT = aboutASAP = as soon as possibleB/F = Bill of exchangeBIBI = bye-byeB/L (blading) = Bill of LadingCFM = please confirmDLRS = dollarsDOZ = dozenINFO = information

LC = Letter of creditOK = agreePLS = pleaseQOK = question OK, do you agree?RE (Lat.) = relating toREF = referring toRGDS = regardsRPT = repeatTLX = telexYR = your

4. By joining parts of words and whole words: OURLET = our letter, YOURLET = your letter, OURTEL = our telegram (telex), YOURTEL = your telegram (Telex), RELET = relating (referring) to letter, RECABLE = relating (referring) to cable, REPHONE = referring to telephone conversation, REURLET = referring to your letter/ REYRLET, REURTEL = referring to your telegram (telex)/ REYRTEL, PRODOC = project document, PERDAY = per day, PERTON = per ton, FIVEPERCENT = five per cent (%). To avoid mistakes numbers in cables are written in words, and certain numbers e.g. double figures (cardinal and ordinal) from twenty one (twenty first) and on – twentyone, thirtyfirst, fortyfive – are written in one word. Numbers “one hundred (thousand), etc.” are written in one word as well: ninehundred, seventhousand, fivethousand and fiftyfive (= 5 055). e.g. “REYTEL TENTH MAY QUOTING LOWEST TWOHUNDRED PERUNIT INCLUDING FIVEPERCENT TRADE DISCOUNT RGDS”

5. By preferring to use single words to phrases:cannot instead of are unable to не можемо, не взмозіtry ‘’ make an effort намагатисяconcerning ‘’ having regard to у відношені, відносноduring ‘’ in the course of під часto ‘’ with the object of з метою

6. By using “ cable language” (“telegrafic English”), which is not always correct in ordinary writing, for example:“PLS QUOTE LOWEST AND SOONEST TWO MACHINETOOLS CIF CALCUTTA RGDS” (The words “Lowest” and “soonest” are understood to mean: “the lowest price” and “the soonest (earliest) delivery time”)

“CONFERMING SHIPMENT EARLY MAY TWO MACHINETOOLS PLS ADVISE SHIPMENT TIME SECOND LOT ASAP RGDS”(“confirming” = we are confirming)

“REGRET PRICE UNACCEPTABLE” (we regret we cannot accept your price)

“REGRET POOR DEMAND COMPETITORS POSITION VERY STRONG” (= we regret that there is poor demand for your equipment. Our competitors are in a very strong position.)

For the sake of economy and occasionally of secrecy instead of writing cables in clear you may use commercial codes (Marconi, Bentley’s) and cyphers. There are

special “Code Books”, for example the British A B C Code, which serve as dictionaries (to read cables written in code).Remember that:a) certain words are very frequent in cables, for example:

to advise – повідомляти, advise – повідомленняto expedite – прискорюватиto finalize – закінчувати, завершуватиto report – прибувати

Examples:“PLS ADVISE SOONEST DELIVERY DATE RGDS PETROV”

“PLS EXPEDITE REPLY RGDS BROWN”“URGENTLY FINALIZE CONTRACT NEGOTIATION”

b) If a document is quoted, the word “QUOTE” is written at the beginning (meaning цитую) and “UNQUOTE” at the end (= кінець цитати).

c) You write the word “EYE” for the pronoun “I” to avoid confusing it with the figure “I”.

d) To stress the importance of something the word “REPEAT” is used and the important part is repeated, e.g.

“PLS TRANSFER ENGLISH POUNDS 500 REPEAT 500 ASAP.”

Lengthy messages which are urgent may be sent by letter telegrams at half the rate for ordinary telegrams. They are delivered on the day next the one when they were handed in. Messages sent by letter telegram must have the appropriate indication: L.T. in front of the address.

Just a couple of decades ago telegrafic messages were the fastest means of business communication. They were widely used for buying and selling in exchanges, in dealing in raw materials, stocks and shares, foreign currencies, ships and insurance. But their role has been diminishing ever since the appearance of other means of communication – especially – telexes.

For the convenience of the customers companies register their cable addresses (= telegrafic addresses) which are abbreviated (brief) registered addresses for use in cables. Company cable addresses were and sometimes still are printed on company forms.

Formally the cable address was given in detail, for example on the letter paper of the English firm H.Brown & W.Pink Ltd you could read:

Telegrams:Foreign – BRONK, LONDONInland – BRONK, PICCY, LONDONCode – BENTILEYS

Now it is short:Cable: STANLOR ESSLINGEN

(= cable address of Standard Electric Lorenz AG from Esslingen)Cable: NISSHOIWAI TOKYO

(= cable address of Nissho Iwai Corporation from Tokyo)Some companies do not print their cable addresses on their forms any longer.

SPECIMEN CABLES

JONSO LONDONYOURLET SECOND JUNE CAN GUARANTEE DELIVERY BY AYGUST FIRSTPROVIDEDORDER RECEIVED LATEST JUNE FIFTEEN RGDS BROWNBRONK LONDONREGRET UNABLE ACCEPT FURTHER ORDERS UNTIL END JULY REPEAT END JULY RGDS

Since cables and telexes are not juridical documents and if they contain information concerning changes in terms, dates or other important agrred data, they should be confirmed by letters the same day, either by repeating their words, or by sending their carbon copies.e.g.

Dear Sir,We confirm our exchange of cables according to the attached copies, and

enclose our Order No 456 with shipping instructions.ENC: 5 pages …………/signature/Dear Sir,

We confirm our cable, as per copy attached (enclosed), and your reply as follows:

…………./signature/

TELECOPIES /FACSIMILES/While telexes are used to pass information about orders, time of delivery and

various other matters during the negotiations or the performance of the contract, important printed material (drawings, diagrams), which the parties have to study, may, if the matter is urgent, be transmitted from one place to another by telecopiers ( which is principally a copying machine that is connected to another similar copier through the telephone network) often called telefacses.

New forms of business communication appear, for example teletexts and videotexts. But letters, signed documents (contracts of sale, charterpaties, etc.) and pieces of information of less urgent nature are, of course, distributed by post.

EXERCISES:

1. Складіть телекс від фірми “Станкопрес” В/О Станкоімпорт (№ телекса 411991) на ім’я Дж. Хадсона завідуючого виробничим відділом фірми “Браун і Кою” з метою узнати, скільки важких пресів вони потребують та у який термін (№ телекса фірми 662842).

2. Напишить телекс у відповідь:від пана Дж.Хадсона директору фірми “Станкопрес” А. Батову, повідомляючи, що фірма потребує 2 важких преси у березні-травні наступного року.

3. Відправте запит телексом:

Англійській фірмі “Джон Бразерс та Ко.”. Вкажить, що вам терміново необхідні запчастини (spare parts) у відповідності до спеціфікації, яку ви надсилали фірмі при запиті від 22 січня 1990р. за номером 2123. Попросіть відповісти телексом не пізніше 2 вересня.

4. Напішіть можливий телекс у відповідь: на телекс від 20 серпня від фірми “Джон Бразерс та Ко.”, повідомляючи, що фірма може постачити запчастини згідно спеціфікації 2123 від 22 січня 1990 р. у другій половині вересня цього року.

5. Напишіть наступний лист англійською мовою:

Завідуючому відділом продажу,7 січня 1990р.

В/О “Українаплодімпорт”,Зовнішньоторгівельна фірма,23 Хрещатик, Київ 23100,Україна

Шановний пане!Із задаволенням додаємо до листа прейскурант на наші каву та какао і

сподіваємось, що Ви розмістите у нас пробнє замовлення, оскільки якість нашої продукції висока.

Ви також побачите, що ціни за котируванням є дуже низькими, і через те, що вони можуть найблизчим часом підвищитися, ми б порадили Вам у Ваших власних інтересах розмістити Ваше замовлення якомога швидше.

У разі необхідності, дозволяється кредит на 3 (три) місяці. Однак, за розрахунок готівкою протягом 14 днів надається двопроцентна знижка.

Ми гадаємо, що Ви знайдете наші ціни та умови прийнятними, і з нетерпінням чекаємо на Вашу швидку відповідь.

Додаток:зазначене на 3 сторінках.

З повагоюДж. КларісЗавідуючий експортним відділом“Франкард та Кларіс Лтд.”

6. Відправте наступний телекс англійською мовою:

до увагт м-ра кларісавід листа від 07.01.90

повідомляємо про наше пробне замовлення на 200 кг кави по прейскурантній ціні сіф клайпеда поставка січень лютий крапка висилаємо контракт авіапоштоюпривітяннякотов3095125 фра к411329 сплим сс

7. Відправте телеграму з повідомленням про зміни у кількості замовлення. Замість 200 кг кави, ви замовляєте 100 кг кави та 100 кг какао.

FORMS OF BUSINESS ACTIVITIES1.Lern the vocabulary on the theme– sole proprietorship (англ..) індивідуальне підприємництво

individual proprietorship (амер.)

– unlimited partnership (англ.)general partnership (ам.) повне товариство

– master limited partnership акціонерно-коммандитне товариство

– private limited company (анг.) акціонерна компанія з обмеженою відповідальністю/закрита акціонерна компанія, яка має право не виставляти свої акції на продаж

– close corporation (ам.) закрита корпорація– public company відкрита акціонерна компанія,

акції якої продаються на фондовій біржі

– public limited company (англ.) відкрита акціонерна компанія– corporation (ам.) корпорація– Articles of Association статут акціонерної компанії– assign one’s rights (to third передавати переуступати свої

persons/ party) права (третім особам/ стороні)– at the price за ціною– be fully liable (for the debts) нести повну відповідальність

(за борги)– be liable to income-tax такий, що обкладається

податком на прибуток– liable to dispute суперечливий– (be) subject to … підлягати, залежати від...

subject to agreement підлягати узгодженнюsubject to approval підлягати схваленнюsubject to contract за умови підписання контрактуsubject to survey підлягати огляду(be) subject to public report підлягати публічному звіту

Ex.:

The text is subject to amendments. У текст можуть бути внесені виправлення.

A treaty is subject to ratification. Договір підлягає ратифікації.The design is subject to alterations. У проект/дизайн можуть бути

внесені зміни.– вear characteristics мати риси/ ознаки– business n.

1. (Sg.) 1.професія, вид діяльностіjob, occupation, tradeHe’s in banking business. Він працює у банку.2. 2. роботаput business before pleasure ставити роботу вище

відпочинкуtalk business говорити про роботу3. (Sg., no indefinite article) 3. комерційна діяльність в

ціломуa business deal угодаa business appointment ділова зустрічwork in the world of business бути бізнесменом4. association, company, про людей, що займаютьсяcorporation, federation, firm, group, купівлею, продажем, organization розповсюдженням товарів та

надають різні послуги; фірмаa dry-cleaning business хімчисткаa family business сімейний бізнесa furniture business торгівля меблямиa hard-pressed business фірма, що прогораєa small business малий бізнесan insurance business страхова компанія

close down a business закрити справу, компанію, фірму

establish a business відкрити справу, компанію, фірму

run a business керувати фірмою, вести справуstart a business розпочати справу, відкрити

фірму5. (Sg., no indefinite article) 5. стан справHow’s business? Як справи?business is booming справи “йдуть угору”business is bad справи поганіbusiness is good справи гарні

6. (Sg., ni indefinite article) 6. питання, справаimportant business важлива справаpressing / urging business термінова справа

to do business (with smn.) вести торгівлю, купляти, продавати, обговорювати питання комерції

get down to business прийматися за справуgo into business почати працювати на фірмі,

розпочати свою справуgo out of business збанкрутити, закрити свою

справу(have) a head for business гарно розумітися на бізнесіset up in business вдало вести торгівлю, відкрити

фірму, магазин

– capital goods основні засоби виробництва– certificate of deposit пайове свідоцтво– Companies Act Закон про структуру компанії,

прийнятий у Англії– Company компанія

form / set up a company створити компаніюregister a company зареєструвати компаніюlisted company компанія, акції якої котуються

на біржіunlisted company компанія, акції якої не

котуються на біржі

– Concession of the share of participation поступка (продаж) долі участі– Conclude / make a deal/ заключити угоду / контракт

а contract / an agreement– Consent згода

by the consent за згодоюwith the consentby common consent за спільною згодоюwithout the consent of smb. без згодиhalf-hearted consent неохоча згодаtacit consent мовчазна згодаcarry the consent of smb. отримати чиюсь згодуobtain / win smb.’s consent добитися чиєїсь згоди

– Consider a matter / a proposal / a question розглядати справу пропозицію / питання

– debenture боргове зобов’язання компаніїsecured debenture боргове зобов’язання,

забезпечене активами (Англія)unsecured / naked debentures боргові зобов’язання, не

забезпечені активами (США)– bond облігація– to disband a company розпустити компанію– to distribute розподіляти, розповсюджувати – dividend дивіденд– equal obligation зобов’язання з солідарною

відповідальністю боржників– income прибуток

an annual income річний прибутокa high income високий рівень прибутку

a low income низький рівень прибуткуa monthly income помісячний прибутокa regular income постійний прибутокaccrued income накопичений прибутокdeclaration of income декларація прибуткуearned income зароблений прибутокfranked income прибуток від маркірованих

інвестиційgross income валовий прибутокincome and expenditure account рахунок прибутків та витратincome support підтримка рівня прибутків

малозабезпеченихnet income чистий прибутокtaxable income прибуток, що оподатковуєтьсяtotal income сумарний прибутокtransfer income прибуток, що переводиться

(субсидії, пенсії і т.д.)income tax податок на прибуток

– insolvency нездатність платити– legal form юридична форма– liability

1. (Sg./ no indefinite article) 1. відповідальністьabsolute liability необмежена відповідальністьcriminal liability кримінальна відповідальністьjoint and several liability сукупна відповідальністьlimited liability обмежена відповідальністьproduct liability відповідальність за якість

продукції accept liability for something визнавати відповідальність за

щось2. (Sg.) 2. перешкода, ярмоbe a liability in a firm бути ярмом для фірми

– licence (англ.) ліцензія, дозвіл– license (ам.)

export licence ліцензія на експортimport licence ліцензія на імпортapply for a licence подавати заяву на отримання

ліцензії grant a licence видавати ліцензію issue a licence lose a licence втратити ліцензію obtain a licence отримати ліцензію

– to limit обмежувати– to liquidate a company ліквідувати компанію, закрити

winding-up (Sg., no ind. article) справу– compulsory winding-up order ордер на примусову ліквідацію

компанії, виданий за рішенням суду

– voluntary winding-up ліквідація компанії за власним бажанням

– majority interest контрольний пакет акцій– to make concessions робити поступки

– management1. (Sg., no indefinite article) 1. здійснення керівництва

bad / poor management погане керівництвоgood management гарне керівництвоhuman resource management кадрова політикаskilled management вдале керівництвоstrong management сильне керівництво

2. керуючий склад чогосьThe management has/have decided Керівництво вирішило to expand the company. розширити компанію.

at management level на рівні керівниківa management decision рішення керівництваa management position позиція, якої дотримується

керівництвоa management team команда керівниківa management trainee стажер-керівникa management system інформаційно-керуюча системаmiddle management керівники середньої ланкиsenior management / executives вищий керівний склад

– manager менеджер, керівний, управляючий

an area manager керівник регіонального проекту

department manager завідуючий відділомdeputy manager заступник керівника,

управляючогоgeneral manager генеральний менеджер,

головний управляючийmanaging director директор-розпорядникpersonnel / staff / human керівник відділу кадрівresources managerpublic relations manager керівник відділу зв’язків із

суспільством product manager менеджер контролю якості та

дизайну продукціїproduction manager завідуючий виробництвомrights manager менеджер, який контролює

здійснення контракту по відношенню до купівлі, продажу, розповсюдження та перевиробництва товарів фірми у інших країнах

sales manager керівник відділу продажу

– market ринок– partner партнер, член товариства,

компаньйонactive partner активний партнерco-partner член товаристваgeneral partner учасник повного товаристваjunior partner молодший партнерlimited partner учасники товариства з

обмеженою відповідальністюmanaging partner партнер, який керує

повсякденною роботою фірмиnominal partner номінальний партнерsenior partner старший партнерsecret / sleeping / dormant partner партнер, що “спить”, не

приймає активної участі у справах фірми

silent partner маловідомий партнерtrading partner торгівельний партнер

– partnership товариствоa deed of partnership партнерська угодаa partnership agreementa partnership-at-will безстрокове товариствоillegal partnership незаконне товариствоto become / to form a partnership організувати товариствоdissolve a partnership розпустити товариствоjoin a partnership стати членом товаристваenter partnershipgo into partnership

– private приватнийa private business приватний бізнесa private letter особистий листprivate information інформація, що не підлягає

розголошеннюin private конфіденційно, секретно

– property власністьcorporate property акціонерна / корпоративна

власністьmovable property рухома власністьreal property нерухома власністьpersonal property особиста власність private property приватна власністьpublic property суспільна власність

– provide for / against smth. вживати заходів– resolution рішення, резолюція

– run the risk ризикувати– secession from the organization вихід із організації– share capital акціонерний капітал– solvency спроможність платити– staff штат, службовці, робітники

account staff бухгалтерія, бухгалтериadministrative staff адміністративні працівникиhired staff працівники за договором

наймуcatering staff робітники сфери

обслуговуванняclerical staff працівники канцеляріїcounter staff робітники, які працюють за

прилавкомindustrial staff робітники на заводі, на фабриціjunior staff підлегліoffice staff офісні службовціpermanent staff постійний штатsenior staff керівництвоtemporary staff тимчасовий штатstaff shortages нестача кадрівstaff vacancies вакантні місцяto employ / take on staff наймати штатto recruit staff набирати штатThe guest-house is keeping У цю пору року у готелі a skeleton staff at this time of the year. мінімальний штат робітників.

– statutory books статутні книги товариства з обмеженою відповідальністю, в яких відображується фінансовий стан, члени, керівництво і протоколи

– tax exempt особа / організація, звільнені– tax free від сплати податку– taxless такий, що не оподатковується– trade1. (Sg., no indefinite article) 1. торгівля

trade between countries торгівля між країнамиtrade in metals торгівля металом

2. 2.сфера торгівліexport trade експортна торгівляimport trade імпортна торгівляinternational trade міжнародна торгівляretail trade роздрібна торгівляwholesale trade оптоваторгівля

3. (Sg., no indefinite article) 3. стан торгівлі, об’єм торгівліtrade is bad торгівля не рухаєтьсяtrade is booming торгівля процвітає

trade is brisk жвава торгівляtrade is declining торгівля погіршуєтьсяtrade is picking up торгівля йде краще /

пожвавиласяtrade is slow торгівля йде повільно

4. 4. сфера комерційної діяльностіa trade journal / magazine професійне періодичне

виданняa trade register торговий реєстр

5. 5. професія, вид занять, спеціальність

learn a trade навчатися ремеслуdomestic / home trade внутрішня торгівля / у країніforeign / overseas trade торгівля із закордонними

партнерами, зовнішня торгівляto do a good trade in smth. гарно заробляти на чомусь

– vote голос, право голоса

2. Read the text paying special attention to new words and set phrases.

(1) Sole Proprietorship (англ.). Individual Proprietorship (ам.) Індивідуальне підприємство

Sole proprietors are individuals carrying out economic operations in various

spheres of business activities (industrial, trade, transport, banking etc.) and concluding commercial deals on their own behalf.

The legal form is not to be indicated in the name of the firm.The hired staff are not referred to as proprietors.

The proprietors must be registered in the trade register, obtain a licence to carry out business activities and keep the books reflecting the results of the latter. The contents of the books are a commercial secret not accessible to a third party. In case of a lawsuit the books can be open for the court and the parties concerned provided the proprietor acts either as a plaintiff or a defendant. Also, the books can be made public in case of either insolvency or inheritance.

Sole proprietors are not subject to public report therefore it is not possible to get true information of their activities.

The sole proprietor is not a legal person and is fully liable with his property by the obligations of his firm. Millions of sole proprietors in the world carry out business activities mainly in the sphere of various services and retail trade.

(2) Unlimited Partnership (англ.). General Partnership (ам.). Повне товариство

The main feature of unlimited partnerships is equal and collective

responsibility for the property for all members of the partnership. In other words, creditors can be paid either at the expense of the partnership’s property or private property of the members. Besides, the agreement can not provide for the exception of property liability of any of the members before a third party. The property of the unlimited partnership is a joint property of its members.

The profit obtained is distributed proportionately to the share of participation in the property of the partnership. Concession of the share of participation can be made only with the consent of the members. The number of the members of the partnership is not limited.

The unlimited partnership can be disbanded either in case of insolvency or resignation of one of its members or by resolution of all participants. Unlimited partnership are not subject to public report.

(3) Limited Partnership (англ. ам.). Командитне товариство (Товариство з обмеженою відповідальністю).

The limited partnership is a contractual union of entrepreneurs participating

only by way of contributions without taking direct part in the management (investors); and those who, apart from contributing, carry out direct management of the partnership and are fully liable by the partnership’s obligations with their own property (full members).

It takes at least one full member and one investor to form a limited partnership. The limited partnership is to be registered just like any unlimited partnership.

The name of the partnership includes the names of one or two full members; the including of the name of the investor into the firm’s name makes the investor equally and jointly liable by the partnership’s obligations.

(4) Master Limited Partnership. Акціонерно-командитне тлвариство.

Master limited partnerships carry out business activities on the basis of a

Charter and are to be registered. One or more full members and shareholders as investors make a partnership. Shares can either be sold to or distributed among the investors or quoted on the stock exchange. Full members run the partnership and are liable by the partnership’s obligations. The shareholders run the risk of devaluation of their shares. A legal person can act as a full member. Thus a master limited partnership bears characteristics both of a limited partnership and a public limited company. The advantage of a master limited partnership is in getting

additional income through an issue of securities and their subsequent sale on the securities’ market. Dividends are tax exempt, so the investors are mainly attracted by a tax regime of master limited partnerships which pay only income tax.

(5) Private Limited Company (англ.). Close Corporation (ам.). Акціонерна компанія з обмеженою відповідальністю. Закрита акціонерна компанія. (Товариство з обмеженою відповідальністю закритого типу.

A private limited company has the word ‘Limited’ or the abbreviation ‘Ltd’

in its name. A private limited company should be registered under the Companies Act and act in compliance with its Charter. The company is a legal person fully liable by the company’s obligations. The equity capital of the company is formed at the expense of deposits; the shareholders get a certificate of deposit which is not considered to be a security and as a rule can not be assigned to third persons without the consent of other shareholders of the company, that provides for the close character of the company. There are private limited companies with a single shareholder.

There is one more circumstance that limits the financial rights and hence production opportunities of the private limited companies: they are not allowed to issue debentures and announce public subscription for their shares.

Private limited companies keep statutory books which are not subject to public report. The number of members of the company is not large, usually consisting of close relatives or people knowing each other well, who united for business.

(6) Public Limited Company (англ.). Corporation (ам.) Відкрита акціонерна компанія. (Акціонерне товариство відкритого типу).

Public limited company is the main legal form of large firms. A public limited

company is a union of investors called shareholders. It carries out business activities on the basis of the Articles of Association and is to be registered under the Companies Act. Any legal person or an individual can be a founder of the company. The shareholders are not liable by the company’s obligations. The public limited company is the most stable kind of unification of capitals as the resignation of any of its investors does not involve the liquidation of the company. The investor has a right to sell his shares without consent of other shareholders.

The initial share capital is formed by way of selling shares. During that period the initial share capital is the only source of financing of its activities. The means obtained from the sale of shares are used for the purchase of plots of land, industrial premises and offices, equipment, basic commodities (raw materials) to launch manufacturing activities. Therefore the company receives an income and also can be financed by way of issuing debentures and securing bank loans.

Thus a number of advantages make a public limited company the most effective means of concentration and centralization of capital goods and capital. The shareholders can return their capital only by way of selling shares at the price currently quoted on the stock exchange.

The shareholders have property and personal rights. Property rights are realized in case of liquidation of a company and in case of getting dividends. Personal rights mean the right to vote; normally a share gives a right for one vote. The decisions are to be taken by a large majority, hence the person or a legal person holding the majority interest is the one who makes resolutions. Public limited companies’ names must have the abbreviation ‘plc’ in their name.

3. Answer the following questions:1. What is a sole proprietorship?2. Must the name of the sole proprietors be indicated in the name of the firm?3. Are people hired to work in the sole proprietorships considered to be

proprietors?4. In what cases can the books of the sole proprietorships be made public?5. Why is it not possible to get true information of the activities of the sole

proprietorships?6. In which spheres of business do sole proprietorships normally work?7. What is the main feature of an unlimited partnership?8. In what way is the profit obtained distributed in the unlimited partnership?9. In what case can the unlimited partnership be disbanded?10. What is a limited partnership?11. How many people does it take to form a limited partnership?12. What are the peculiarities of the name of the limited partnership firm?13. Why do master limited partnerships bear the features both of the limited

partnership and a joint-stock company?14. What is the advantage of a master limited partnership?15. Which feature is attractive for investors in master limited partnership?16. What is a private limited company?17. What kind of abbreviation must private limited companies have in their

names?18. How is the equity capital of the private limited companies formed?19. What factor provides for the close character of the private limited

companies?20. What are the circumstances limiting financial rights and production

opportunities of the private limited companies?21. What is the public limited company?22. Who can be the founder of the public limited company?23. Are the shareholders liable by the company’s obligations?24. Does the investor to the public limited company need to get a special permit

to sell his shares?25. What is the role of the initial capital for the public limited company?26. What is the additional way of financing businesses for the publicly held

company?27. What factors make the public limited company the best form of concentration

and centralization of capital goods and capital?

28. How can the shareholders of the public limited companies realize their property rights?

29. What are the rights of the shareholders in a public limited company?30. How many votes is one share is equal to?31. Is a person or a legal person holding the majority interest is the most powerful

in the public limited company?32. What kind of abbreviation must public limited companies have in their

names?33. What is the difference between the private limited company and the public

limited company?

4. Give English equivalents to words and word-combinations. Make up your own sentences using them.

1. 1. Різні сфери ділової активності.2. Банківська справа.3. Заключаються комерційні угоди.4. Службовці, які працюють за договором найму.5. Юридична форма.6. Бути раєєстрованим у торгівельному рєєстрі.7. Придбати дозвіл.8. Вести торгівельні книги.9. Виступати у якості позивача або відповідача.10. Зацікавлені особи.11. Крім того.12. Підлягати публічній звітності.13. У наслідок чого.14. Вірогідна інформація.15. За зобов’язаннями своєї фірми.16. Роздрібна торгівля.17. Індивідуальне підприємство не є юридичною особою.18. У сфері обслуговування.19. Основна риса повного товариства.20. Необмежена та солідарна майнова відповідальність.21. Отриманий прибуток.22. Іншими словами.23. Особисте майно.24. Перед третіми особами.25. Виключати майнову відповідальність.26. Прибуток розподіляється пропорційно.27. Доля участі у майні товариства.28. Кількість членів товариства не обмежується.29. Майно повного товариства.30. Поступка долі участі можлива лише за уиови згоди його членів.

ІІ.1. Товариство може бути розпущено.

2. У випадку неплатоспроможності.3. У випадку виходу із товариства одного із учасників.4. Повні товарищі.5. Договірне об’єднання підприємців.6. Необмежено відповідати усім своїм майном по його зобов’язанням.7. Як і усяке командне товариство.8. Як і усяке повне товариство.9. Повні товарищі здійснюють кепівництво фірмою.10. Котуватися на фондовій біржі.11. Акціонери підлягають ризику знецінення своїх акцій.12. Отримання додаткових засобів.13. За рахунок емісії акцій.14. З подальшим продажем на ринку цінних паперів.15. Акціонерний капітал компанії.16. Пайовикам видається свідотство про внесок.17. Яке не є цінним папером.18. Без згоди інших пайовиків.19. Випускати облігаційні займи.20. Виробничі можливості.21. Правова форма великих фірм.22. Призвести до ліквідації компанії.23. Найбільш стійка форма об’єднання капіталів.24. Утримувач контрольного пакету акцій.25. Приймати рішення.26. Акціонерна компанія: англійська та американська абревіатури.27. Особисті та майнові права акціонерів.28. Право на один голос.29. Отримання дивідентів.

5. Choose the correct answer.

A partner is…

a) Any person who signs any kind of legal document.b) A person or group of people who take part in a legal agreement or dispute.c) One of two or more people who runs a business.

The investor of the public company has a right to sell the shares belonging to him:

a) Only with the permission of the Chairman of the Board of Directors.b) Without the consent of other shareholders of the company.c) Only to the shareholders of the same company with the resolution of the

shareholders’ meeting to follow.

A sole / individual proprietor is …

a) The managing director of the company.b) An individual carrying out economic operations in different spheres of business

activities and concluding commercial deals on his own behalf.

c) A hired person who is in charge of the operation of the company.

6. Fill in the blanks where necessary.I.1. Carry _______ economic operations.2. Spheres ______ business activities.3. To reflect the results _______ the commercial activities.4. To conclude _______ deals _____ behalf _____ their own.5. To be referred _____ _______ proprietors.6. The name ________ the firm.7. To carry _______ business activities.8. The results ______ the latter.9. In case ______ insolvency.10. The books can be open _______ the court.11. Information ________ someone’s activities.12. Millions ________ sole proprietors _________ the world.13. Responsibility _______ the partnerships obligations.14. At the expense _______ something.15. Liability before ______ third party.16. Proportionate _______ the share _______ participation.17. Participation ______ the property _______ the partnership.18. The number ______ the members _____ the partnership.19. The resolution _______ all participants.20. To be subject _____ _____ public report.

II. 1. Union ______ entrepreneurs.2. To take part ________ the management ______ the partnership.3. To form _________ limited partnership.4. To be registered _____ the trade register.5. The name _______ the partnership.6. ______ the basis of the charter.7. Shares can be sold _____ or distributed _____ the investors.8. To be quoted ____ the stock-exchange.9. Run ______ the risk.10. The risk ______ devaluation _____ shares.11. It has a word limited _____ its name.12. The equity capital _____ the company.13. A certificate _______ deposit.14. Can not be assigned ____ _____ third persons.15. That provides _______.16. To limit ______ financial rights.17. Announce _______ public subscription ______ shares.18. _____ the price quoted _______ the stock exchange.19. A number ______ advantages.20. ______ way _____ selling shares.

PART II1. Learn the words and word combinations.

agree to smth. погоджуватися на щосьagree with smb. погоджуватись з кимосьapprove a plan, a report затверджувати план, дововідьbranch філіал, відділення

a local branch місцеве відділенняa main branch основний філіалan overseas branch закордонний філіалa branch network мережа філіалівa branch post-office місцевий почтовий відділокto close a branch закрити філіал/відділенняto establish / to set up a branch учредити філіал / відділенняto open a branch відкрити філіал / відділення

capital капіталinitial paid-in capital початковий внесений капіталpaid up capital сплачений капітал

consolidation консолідація, об’єднанняdeal угодаtransaction

big deal велика угодаfirm deal надійна угодаcash deal угода з розрахунком готівкоюnew deal нові віяння, курс реформswap credit deal угода із взаємним наданням кредитуfair / square deal чесна угодаraw / rough deal незаслужено суворе відношенняpackage deal комплексна угода (угода на основі

взаємних поступок, умови, які приймаються чи відхиляються повністю)

arrange a deal організувати угодуclinch a deal визначити результат угодиconclude a deal заключити угодуto do / to set up a dealfinalize a deal закінчити угоду / справуto get a deal знайти / розпочати справуto go for / along with a deal погодитися заключити угодуto make a deal for smth. заключити угоду про купівлю чогосьto make a deal to rent the house заключити угоду про аренду домаno deal! нечого не вийде!to sign a deal підписатися під угодою

demerger розпадto dispose of smth. позбавитися від, закіншити,

продавати, віддаватиto dispose of a piece of business закінчити / улагодити справуto dispose of a question вирішити питанняto dispose of property розпорядитися майномto dispose of goods продати / збути товариto dispose of rubbish прибрати сміття

distribution росподіл, розповсюдженняeffect дія, сила

to take effect вступати у дію / у силуwith effect from … такий, що вступає у дію з …to be in effect діяти / бути дійсний (про закон,

угоду)to give effect to приводити у дію (закон)to bring / to put / to carry intoeffect виконувати, здійснюватиin effect по суті, фактичноto the effect that про те, що; наступнеto that effect щось таке

equipment обладнання, устаткуванняemergency equipment аварійне обладнанняdefective equipment дефектне обладнанняstandby / backup equipment запасне. резервне обладнанняcomplete equipment комплектне обладнанняtest equipment контрольно-вимірювальне обладнанняerection equipment / facilities монтажне обладнанняhandling / loading-unloadingequipment погрузосне-розгрузочне обладнанняsophisticated / modern equipment сучасне обладнанняconstruction equipment будівельне обладнанняsubstandard equipment неякісне обладнанняrent of equipment закупівля обладнанняorder of equipment заказ на обладнанняshort-delivery of equipment недопостача обладнанняshort shipment of equipment нестача при постачання обладнання

to establish встановлювати, утворювати

to expand розширювати

to finance фінансувати, продавати у кредитto fund

to finance the dealers надавати кредит посередникам

headquarters головне управління, головний орган,штаб-квартира

joint venture сумісне підприємство

to launch розпочинати, відкриватиto launch smn. into business допомогти комусь розпочати ділову

кар’єруto launch a scheme ввести у дію планto launch an attack предприняти атаку

loss-making збитковийloss-making business збитковий бізнесloss-making company збиткова фірма

maker виробникproducer

car / vehicle maker автомобілебудівельний завод

manufacture (Sg, no indefinite article) виробництво, виготовлення, процесвиготовлення

productionmanufacture mark фабричне тавро

to manufacture вироблятиto produce робити, перероблятиmanufacturer виробникproducer постачальник, підприємство

переробної промисловостіmanufacturer’s catalogue фірмовий каталог

manufactures (Pl.) продукт, виробto merge зливатися (про організації, фірми)to amalgamatemerger об’єднання (підприємств, банків)

horizontal merger горізонтальне об’єднанняvertical merger вертикальне об’єднанняindustrial merger промислове об’єднанняmerger agreement угода про об’єднанняmerger company об’єднана компаніяmerger proposal пропозиція об’єднатисяto agree to a merger погодитися на об’єдгаггяto withdraw from a merger вийти із об’єднання

option вибір, право вибору чи заміниat the option of the purchaser / buyer на вибір / на розгляд покупцяto have no option but не мати вибору крім…to take up the option зробити вибірto leave to smb.’s option залишати на чий-небудь розгляд /

розсудpercentage процент, процентна доляrival суперникcompetitor конкурентcompetitioner

without a rival поза конкуренцієюa leading competitor основний конкурентa major competitor

second largest другий за розміром

shareholder акціонер

splitting off розпад

to unpick руйнувати, розвалюватиto pick smth. apart

subsidiary дочерня компанія (холдінгова компанія, яка володіє більш ніж половиною номінальної вартості її акціонерного капіталу або тримає у ній певну кількість акцій і контролює склад ради директорів)

takeover поглинанняa friendly takeover дружне злиттяa hostile takeover акт ворожего поглинання / захоплення

to turn into перетворюватися

under у відповідності, за, згідноunder amnesty за амністієюunder smb.’s advice за чиєюсь порадоюunder smb.’s will за чиїмсь заповітомunder contract згідно контрактуunder order No. згідно заказу №under the terms of the agreement за умовами угоди

unit одиниця, структурний підрозділ

unproductive збитковий

to value оцінювати

vertically integrated business вертикально інтегрована компаніяbackward integrated business вертикально інтегрована компанія, яка

контролює своїх постачальниківforward integrated business вертикально інтегрована компанія,

продукцією якої користуються концерни

with a view to smth. з метою, з наміромwith a view of smth.

yearly щорічноevery yearannually

2. Read the texts paying special attention to new words and word-combinations:

Kia, South Korea’s second largest vehicle maker, and Ford Motor Credit, a unit of Ford of the US, have established a joint venture car finance company for Korean buyers. Kia Ford Credit Finance has an initial paid-in capital of Won 33.3bn ($44m) which will be increased yearly. The venture will be launched on January 1, 1996 in

Seoul, with plans to expand nation-wide. The car financing venture will not limit itself to financing Kia and Ford car buyers.

Shareholders of TSB Group approved the bank’s merger with Lloyds Bank, and the change of name of their company to Lloyds TSB Group. The merger is expected to take effect from December 28, 1995. The shareholders also voted to allow TSB directors to make arrangements for Lloyds Bank share option holders to be given options over Lloyds TSB shares.

The demerger of the US healthcare group Baxter International is in several ways a classic of the genre. First, Baxter is splitting off the manufacturing and distribution activities. Second, it is unpicking a decade-old merger with its larger rival American Hospital Supplies, which was largely designed to bring manufacturing and distribution together. It might also seem curious that only two years ago, Baxter carefully considered demerging the business and decided against it. The impression remains that Baxter’s demerger is very much in line with the prevailing fashion: take a vertically integrated business and pick it apart, with a view to possible horizontal merger with fresh partners.

Banco di Napoli, the troubled Italian bank, intends to sell or close chronically loss-making Italian branches, while unproductive foreign branches will be disposed of or turned into representative offices.

Cordis, the US maker of cardiology equipment and other medical devices, agreed to a takeover by Johnson and Johnson in a deal valued at about $1.8bn. Under the terms of the agreement, Cordis would keep its Miami, Florida headquarters and its name.

Sale of the first six months of 1995 rose to FF26.95 billion, showing an increase of 22.8 per cent. The growth can be attributed to a 20.6 per cent increase arising from changes in structure, in particular the consolidation of four new subsidiaries into the group.

3. Give English equivalents to words and word-combinations. Make up your own sentences usinf them.

1. Другий за розміром.2. Початковий капітал.3. Створити сумісне підприємство.4. Сумісне підприємство почне роботу 1 січня.5. По усій кріїні.6. Обмежити себе.7. Фінансування покупців автомобілів.8. Схвалити злиття банків.9. Очікується, що злиття відбудеться дуже швидко, недивлячись на

оптимістичні прогнози деяких аналітиків.10. Акціонери проголосували.

11. Сумнівів немає, перед нами класичний приклад свого жанру.12. Розділити виробничу діяльність і розподіл.13. На цей раз ми зіткнулися з більшим суперником у своїй традиційній сфері

бізнесу.14. Типовий приклад вертикально інтегрованого бізнесу.15. Горизонтальне злиття з новими партнерами.16. Банк, що мав труднощі.17. Хронічно збиткові філіали.18. Позбавитися від закордрних філіалів.19. Представництва банку.20. У той час коли Джонсон та Джонсон намагався поглинути більш меньшу

фірму.21. В угоді, що оцінена приблизно у 1 міліард доларів.22. Згідно умовам угоди.23. Об’єм продажу першого півріччя 1995 року зріс до 20 міліардів французких

франків.24. Об’єднання нових дочерніх компаній у групу викликало фурор минулого

тижня.

4. Choose the correct answer:

A joint-venture is…

a) A business or commercial activity in which there may be some risk for the parties concerned;

b) A business activity in which two or more people or organization work together.c) A group of people chosen to represent others in organizing affairs that concern

them all.

A merger is …

a) The aim of selling to a particular group of people.b) A company whose shares are not recorded on the main market of a stock

exchange.c) The combining of two or more organizations, usually to share costs, increase

efficiency and avoid competition.

A consolidation is…

a) A temporary association of two or more companies for a major project that is too complex for any of them to do alone.

b) The bringing together the financial resources and accounts of a holding company and its subsidiaries so that the strength of the whole group is revealed.

c) A number of companies, sometimes involved with different products, joined together and run as one large company.

5. Fill in the blanks where necessary.

1. ________ plans to expand nation-wide.2. Limit oneself ______.

3. Shareholders ______ TSB group.4. Approved _______ the merger.5. The change _____ name _______ their company _______ Lloyds TSB group.6. To be given options ______ Lloyds TSB shares.7. The demerger ________ the us healthcare group.8. To consider _______ demerging the business.9. To be _____ line ______ the prevailing fashion.10. ______ a view ______ possible merger.11. A merger ______ fresh partners.12. To decide _______ demerging.13. To turn _______ representative offices.14. To dispose ________.15. Maker _______ cardiology equipment.16. To agree ______ a take-over ________ Johnon and Johnson.17. To be valued _________ $1bn.18. To keep the name ___________ the company.19. An increase ___________ 20 per cent.20. Changes ________ structure.21. The consolidation ________ subsidiaries _______ the group.22. Sale ________ the first six months _______ 1995.

6. Translate the following special phrases as accurately as you can into English. In case you cannot give an exact translation give an explanatory one.

1. Закулісна боротьба нефтяних генералів за найбільш цікаві підприємства отраслі.

2. Закінчений технологічний ланцюжок “добування – переробка – збуд” у структурі вертикально інтегрованої компанії гарантує забеспеченість сировиною та здут продукції.

3. Санація – це реструктурузація та фінансове оздоровлення збуткових підприємств.

4. Згідно трудовому контракту роботодавець не може змінити на свою користь норми із забеспечення праці та техніки безпеки.

5. У столицю Туреччини щодня прибувають десятки тисяч челноків.6. Хіба розуміє простий роботяга макроєкономічну доцільність своєї праці?7. Годовий обсяг добування нафти компанії “ЮКОС” зріс на 400 млн. тон за

рахунок злиття з акціонернимоб’єднанням “Самаранафтогаз”.8. Магазин “Електротовари” виставлений на комерційний конкурс та проданий

приватному підприємцю. А зараз, два роки потому, магазин покинутий новим господарем на призволяще.

9. Чому б підприємству замість аренди не продати землю у повну власність, адже робітники довели, що вони - дбайливі господарі.

10. Частка малого підприємництва у валовому продукті республіки.11. Країни СНД мають единий інформаційний, демократичний та економічний

простір.12. У якості рецепієнтів Міжнародного Валютного Фонду є країни із самою

різноманітною політико-економічною орієнтацією.13. Як правило, дочернє підприємство має самостійний річний бюджет.14. Це горно-металургійний комбінат, який працює по старому.15. Як перетворити інститут підприємництва та менеджменту у кузню кадрів?

16. Систему охорони здоров’я очікує нове “затягування пасків”.17. Проблема освоєння економічних зон вільного підприємництва.18. Безконтрольне освоєння природних ресурсів конпораціями, підприємствами

нафтодобичі, призведе до виснаження надр землі.19. Ці сигарети не обкладаються податком на теріторії США.20. Останнім часом в отраслі відбувається злиття різноманітних підприємств.21. Багато підприємств у свій час перейшли на хозрозрахунок.22. Виробниче об’єднаня “Юганскнафтогаз” до 1991 року входило у склад

“Главтюменьнафтогаз”, а потім стало самостійним державним підприємством. У квітні 1993 року підприємтсво було перетворено на акціонерне товариство відкритого типу.

23. Таким чином закінчилось недружне поглинання акціонерного товариства.24. “Інкомбанк” та його дочерня компанія “Інком Капітал”, спеціаліст по

злиттям та поглинанням, вирішили не афішувати своїх намірів і підготували схему “тихої” купівлі контрольного пакету акцій АТ “Бабаєвське”.

CONTRACTTYPES OF CONTRACT

What is a contract?A contract is a legally enforceable promise or set of promises. However, not

all promises are contracts. If Bill promises to take Mary to the movies on Saturday night but takes Judy instead, can Mary successfully sue Bill for breaking his promise? No. If Bill buys a car from Friendly Motors and promises to pay for it in monthly instalments, can Friendly Motors force Bill to honour his promise if he stops making payments? Yes. What is the difference between theses two promises?

Over the years the common law courts developed a number of requirements that a promise had to meet before it would be considered a contract.

These are:1. An agreement (an offer and an acceptance of the offer);2. Voluntarily entered into;3. By parties having capacity to contract;4. Supported by consideration (with some exceptions);5. To do a legal act or acts.In addition to these elements, the courts required written evidence of some

kinds of contracts.

Why have contracts?Contracts are probably a necessary device in any kind of market economy

where goods and services are exchanged by people acting in their own interest. A contract is a legally enforceable promise or set of promises. However, not all promises are contracts. People might not enter into agreements that call for some future performance unless they know some means exist (the law) to force other people to honour their promises. For example, a small business might be afraid to supply its goods to a large corporation in exchange for the corporation’s promise to pay for them next month, unless the business knows it could have outside help to force the corporation to pay. Similarly, a weak person might not be willing to pay a strong person today for outside help available to enforce the return of the money if the goods are not delivered, or if the delivered are not what was agreed to.

It is also true that it would probably be impossible to have an industrialized, market economy without contracts. A manufacturer would be unable to do the kind of planning necessary to run a business if it could not rely on agreements with suppliers to furnish the raw materials needed to make its products. Similarly, a manufacturer might not be willing to commit itself to buy raw materials or hire employees if it could not rely on buyers’ promises to buy its products.

It is not surprising, then, that the contract was accepted as the basis for business transactions at a very early point in history. Egyptians and Mesopotamians recognized and enforced contracts thousands of years before Christ. By 1603 the common law courts of England recognized the enforceability of simple contracts.

Types of contractsSeveral terms are used to describe kinds of contracts.

Unilateral contract an act exchanged for a promiseBilateral contract a promise exchanged for a promise

Executory contract a contract that has not been fully performedExecuted contract a contract that has been fully performedExpress contract terms are stated orally or in writingImplied contract terms are indicated by facts and circumstancesImplied-in-Law Quasi-Contract

contract-like duties imposed by the court to prevent unjust enrichment

UNILATERAL AND BILATERAL CONTRACTS

Contracts are called either unilateral or bilateral depending on whether one or both of the parties made a promise. In a unilateral contract, only one of the parties makes a promise. The other party performs an act in exchange for that promise. For example, Mary runs an ad in the paper offering a $5 reward for the return of her lost dog, Sparky. Mary has made a promise to pay the person who performs the act of returning Sparky.

In a bilateral contract, both parties make a promise. For example, Sue Smith the owner of Hi-Fi Heaven, orders 100 stereo receivers from Steve Jones, a salesman for Slick Sound Manufacturing Company. Sue has made a promise to pay for the receivers in exchange for Slick Sound’s promise to deliver them.

VALID, UNENFORCEABLE, VOIDABLE AND VOID CONTRACTS

A valid contract is one that meets all the legal requirements for a contract. Valid contracts are therefore enforceable in court.

An unenforceable contract is one that meets the basic legal requirements for a contract but will not be enforced due to some other legal rule.

A voidable contract is one that may be cancelled by one or both of the parties. It is enforceable against both parties unless a party with the right to cancel the contract has done so. For example, if Frank buys a used car from Honest Bob’s Used Cars and Frank is a minor, the parties have a voidable contract. It is binding and enforceable against both parties unless Frank decides to cancel the contract.

The void contract lacks one or more of the basic requirements for a contract. Such an agreement has no legal force or effect. An example is an agreement to steal a car. One of the basic requirements for a valid contract is that the thing the parties have agreed to do is legal. Stealing a car is illegal; therefore, such an agreement would be considered void.

EXPRESS AND IMPLIED CONTRACTS

A contract is express when the parties have directly stated its terms at the time the contract was formed. They may have done this orally or in writing. So, when Bill tells Joe, “I’ll sell you my 1983 Camaro for $10,000,” and Joe replies, “You’ve got a deal,” an express contract has been created.

There are many cases, however, in which the parties have clearly reached an agreement, even though they have expressly stated its terms. When the surrounding facts and circumstances indicate that an agreement has in fact been reached, an implied contract is created. Suppose you go to your dentist for treatment. Ordinarily you would not expressly state the terms of your mutual agreement beforehand, although it is clear that you do, in fact, have an agreement. A court would infer a promise on the part of your dentist to use reasonable care in treating you and a promise on your part to pay a reasonable fee for the dentist’s services.

EXECUTED AND EXECUTORY CONTRACTS

A contract is executed when all the parties have fully performed their duties under the contract. A contract is executory as long as it has not been fully performed. A contract is partially executory when one person has performed his promise under the contract, but the other person has not performed hers.

A QUASI CONTRACT

A quasi contract is a legal fiction created by the court to avoid injustice. The basic idea is that quasi contract applies where one of the parties voluntarily receives a benefit from the other party under circumstances that make it unfair to keep the benefit without paying for it.

The elements of a contract

A contract always requires the presence of four components, but sometimes requires five. The five are:

Mutual assent Consideration Possession of contractual capacity by the parties Legal objectives A writing, if required by statuteMutual assent, the essential prerequisite for every enforceable contract.The law of contracts does not require that the consideration of each party be of

equal value. Its only requirement is that the consideration have legal value, that is, some economic value no matter how slight.

A frequent question in cases involving disproportionate consideration is the capacity of the parties to contract. “Capacity” means “competency,” or the ability to understand the nature of the contract. Note that the term refers to the ability to understand, not to whether a party actually understood. In other words, the capacity requirement does not protect people who misunderstand a bargain or who do not read contracts. Rather, the law permits certain categories of persons – minors, the mentally ill, and the intoxicated – to disaffirm, or void, their contracts. Contracts with persons whom a court had declared legally incompetent before the time of contracting are automatically void.

By definition, a contract must have legal objectives, since a court will not enforce illegal ones. Some contract-like arrangements are prohibited by law. Arrangements to fix prices or to purchase illegal drugs are just two examples.

The final requirement, a writing – a written contract – only comes into play when a statute actually requires one. Written contracts are not the norm; oral contracts are.

Learn the words and word combinations on the theme “Contract”

CONCLUSION OF ЗАКЛЮЧЕННЯA CONTRACT КОНТРАКТУ

draft contract проект контрактуto make a contract, заключати контрактto conclude a contractto negotiate a contract обговорювати контрастto initial a contract парафірувати контрактto sign a contract підписувати контрактthe date of signing a contract дата підписання контрактуcontract, duly signed by контракт, підписаний authorized representatives належним чином

уповноваженими особамиappendix (to contract) додаток (до контракту)listed in appendix перелічений у додаткуattached to contract, annexed to contract доданий до контрактуmentioned in appendix зазначений у додаткуcontract clause, contract article стаття контракту

FULFILMENT OF ВИКОНАННЯ CONTRACT КОНТРАКТУ

due and faithful performance of точне та своєчасне виконання a contract контрактуcourse of the implementation of хід виконання контракту a contractto hold a contract діяти за контрактомto execute a contract, to perform виконувати контракт a contractto infringe a contract, to break порушувати контракт a contractto terminate a contract розривати контракт

obligations (of the parties) under contract, обов’язкі (сторін) за commitment under contract контрактомto bear responsibility for delay in нести відповідальність за fulfillment of contractual obligations затримку у виконанні

контрактних зобов’язаньto revise a contract переглядати контрактto cease to be under any contractual obligations припиняти виконання

контрактних зобов’язаньto suspend the fulfillment of contractual obligations призупиняти виконання

контрактних зобов’язаньto evade the fulfillment of contractual obligations ухилятися від виконання

контрактних зобов’язаньsanctions for the non-fulfillment of санкції за невиконання contractual obligation контрактних зобов’язаньwithin the limits of the contract у рамках контрактних

зобов’язаньwithin the extent of the contract в об’ємі контрактних

зобов’язаньsupplement to contract, addendum to додаток до контрактаcontractto assume obligations under the contract приймати на себе зобов’язання

по контрактуto default [on] one’s obligations не виконувати зобов’язань по

контрактуto prolong a contract term продовжити термін дії

контракту

MAIN CLAUSES OF CONTRACT ОСНОВНІ СТАТТІ КОНТРАКТУ

cost[s] витратиoriginal cost[s] початкові витратиincurred cost[s] понесені витратиplanned cost[s] планові витратиbudgeted cost[s] кошторисні витратиfixed cost[s] постійні витратиaggregate cost[s], combined cost[s] сукупні витратиcarrying cost[s], current cost[s] поточні витратиdelivery cost[s] витрати на доставкуto recover cost[s] стягувати витратиto recoup cost[s] відшкодовувати витратиto incur cost[s] мати (нести) витратиestimate calculation кошторисна калькуляціяcosting, cost calculation калькуляція себівартостіto estimate, to calculate складати калькуляцію

charges, cost[s], expenses витратиtotal cost[s] загальні витратиactual cost[s] фактичні затратиinventory acquisition cost витрати на придбання

матеріалівprofit[s] прибуток

gross profit валовий прибутокanticipated profit, expected profit очікуваний прибутокaverage profit середній прибутокnet profit, pure profit чистий прибутокto derive a profit отримувати прибутокto produce a profit приносити прибутокto share in profits брити участь у прибутках

discount, rebate знижкаprice rebate, discount from the price знижка з ціниbonus додаткова знизкаdiscount of …%, …% discount знижка у розмірі …%at a discount із знижкою

cost, value вартістьestimated cost, tentative cost орієнтовна вартістьestimate cost кошторисна вартістьaggregate cost сукупна вартістьaverage cost середня вартістьtentative estimation of cost попередня оцінка вартостіcost of manufacturing, cost of вартість виготовленняmanufactureproject cost вартість об’єктуcost of transportation вартість перевезення

price[s] ціна(и)heavy prices, high prices високі ціниexcessive prices занадто високі ціниlow price низька цінаcontract price договірна цінаoverestimated price завищена цінаunderestimated price занижена цінаprocurement price, purchasing price закупочна цінаoutside price крайня (максимальна) цінаbedrock price, rock-bottom price крайня (нижча) цінаceiling price, peak price, highest price максимальна цінаfloor price, lowest price мінімальна цінаquoted price призначена цінаinitial price, trigger price початкова цінаreasonable price обгрунтована цінаwholesale price оптова цінаretail price роздрібна цінаpiece price штучна цінаlist price прейскурантна цінаcontrolled prices регульовані цініprice rise підвищення ціниto buy at the price of … купувати за ціною…to grant price concessions робити поступки у цініcost plus price ціна “середні витрати плюс

прибуток”cost and freight price, price c.a.f. ціна “вартість та фрахт”,

ціна КАФcost, insurance, freight price, price c.i.f. ціна “вартість, страхування,

фрахт”, ціна СІФfree on truck price ціна франко-автотранспортfree on board pride, f.o.b. price ціна франко-борт, ціна ФОБfree on rail price, f.o.b. price ціна франко-вагон, ціна ФОБ,

франко-рейкиfree alongside ship price, f.a.s. price ціна франке вздовж борту

судна, ціна ФАСfree at border price, free-frontier price ціна франко-кордонprice ex warehouse ціна франко-складto ascertain a price, to establish a price встановлювати цінуto add to the price збільшити ціну

to bring down prices, to scale down знижувати цінуprices, to reduce pricesto agree upon the price погоджувати цінуto force down prices, to beat down prices збивати ціни

types of contracts види контрактівcontract for carrying out design контракт на виконання

and survey work[s] проектно-пошукових робітcontract for the preparation of контракт на виконання техніко-

a feasibility report економічного обгрунтуванняcontract for the preparation of контракт на виконання

a detailed project report технічного проекту об’єктаcontract for the sending of specialists контракт на відрядження

спеціалістівproduction sharing contract контракт на компенсаційних

умовахcontract for training local operating контракт на навчання

personnel місцевого експлуатаційного персоналу

contract for rendering technical кониракт на здійснення assistance in the construction технічного сприяння у of a project будівництві об’єкту,

техсприянняcontract for rendering technical контракт на здійснення

assistance in project operation технічного сприяння в експлуатації об’єкту

contract for the supply of complete контракт на постачання equipment комплектного обладнання

research and development contract контракт на проведення наукових досліджень і розробок

research-development-test-and-evaluation контракт на проведенняcontract наукових досліджень,

розробок, випробувань та оцінок

contract for the sale of know-how контракт на продаж лізензій and license та ноу-хау

development contract контракт на розробку

“turn-key” contract контракт на будівництво на умовах “під ключ”

risk contract контракт на умовах ризикуflat fee contract контракт з попередньо

встановленою ціноюfixed-price contract with escalation контракт з коректировкою

фіксованої ціни по рухомій шкалі цін

cost-plus-fixed-fee contract контракт із сплатою витрат плюс сталий прибуток

effective date of contract час вступу контракту у дію

fulfilment of contract, performance виконання контрактуof contract, execution of contract,implementation of contract

proper performance of a contract належне виконання контрактуdue and faithful performance of тосне і своєчасне виконання

a contract контрактуduring the performance of a contract під час виконання контрактуcourse of the implementation of a хід виконання контракту

contractto arise in the course of the виникати під час виконання

implementation of a contract контрактуto check the performance of a contract перевіряти виконання

контракту[contract] document (-s) документ (-и) контракту

the following documents [of a наступні документи [контрактуcontract]

terms and provisions, reservations умови та обмовки документуof a documentas stated (specified) in a document як зазначено у документіto copy a document, to duplicate a розмножувати документdocumentto draw up a document, to make up a складати документdocumentto interpret a document, to construe a тлумачити документdocument

supplement to contract, addendum to додаток до контрактуcontract

as per supplement … to contract…, у відповідності із додатком in accordance with supplement … … до контрактуto contract …

enquiry, inquiry запитto send an enquiry for відсилати запит

performance of contract виконання контрактуin the performance of contract у виконанні контракту

contract контракт

long-term contract, period contract довготривалий контрактpresent contract даний контрактvoid contract недійсний контрактprime contract основний контрактcontract awarded, contract gained отриманий контракт (контракт,

підписаний у наслідок виграшу торгів)

terminal contract, fixed-term contract терміновий контрактremarks on a contract зауваження по контракту

infringement of contract, breach of contract порушення контрактуcontract number номер контракту

relevant contract number відповідний номер контрактуobligations (of the parties) under contract, зобов’язання (сторін) за commitment (of the parties) under contract, контрактомliabilities (of the parties) under contract

negotiations under contract, talks переговори по контрактуunder contract, multilateral [trade]negotiations

multilateral [trade] negotiations багатосторонні (торгівельні) переговори

preliminary talks попередні переговориin the course of negotiations у ході переговорівhigh-level talks переговори на високому рівніsummit talks переговори на вищому рівніby [means of] negotiation шляхом переговорівdisruption of talks зрив переговорівto conduct talks, to hold talks, to вести переговориcarry on negotiation, to negotiateto enter into negotiation вступати у переговориto fail in one’s negotiation потерпіти невдачу у

переговорахcontract correspondence листування по контрактуsigning a contract підписання контракту

the date of signing a contract дата підписання контрактуwithin … days of signing a contract протягом… з дати підписання

контрактуcontractor підрядчик

general contractor генеральний підрядчикbuyer покупецьprovision(-s) положення контракту

under the provisions of the contract згідно положенням контрактуsupplier постачальникcontract party сторона контракту

second party друга сторонаcontracting party сторона, що домовляєтьсяfirst party перша сторонаlegal addresses of the parties, юридична адреса сторінjuridical addresses of the parties

conditions of contract, terms [and умови контракту

conditions] of contract, provisions of contractproper conditions of a contract належні умови контрактуgeneral conditions of a contract загальні умови контрактуreference to the general conditions посилання на загальніof a contract умови контрактуspecial conditions of a contract спеціальні умови контрактуon the following terms and conditions на наступних умовах of a contract контрактуto be bound by terms and conditions бути обмеженим умовами of a contract контрактуto finalize terms and conditions of остаточно узгоджувати

a contract умови контрактуto word terms and conditions of формулювати умови

a contract контрактуwording of contract формуліровка контракту

fresh wording нова формуліровкаfinal wording остаточна формуліровкаexact wording точна формуліровка

contract parts частини контрактуcommercial part of a contract комерційна частина контрактуtechnical part of a contract технічна частина контрактуto be an integral part of a contract бути невід’ємною частиною

контрактуcontract language мова контракту

non-fulfillment of contractual несвоєчасне виконання obligations on (in) time контрактних зобов’язань

fulfillment of contractual своєчасне виконання obligations on (in) time контрактних зобов’язань

to meet contractual obligations виконувати контрактні зобов’язанння

to free from obligations under the contract, звільняти від виконання to release from obligations under the контрактних зобов’язань contract, to relieve from obligations under the contractto cease to be under any obligations припиняти виконання

контрактних зобов’язаньto suspend the fulfillment of призупиняти виконання contractual obligations контрактних зобов’язаньto evade the fulfillment of ухилятися від виконання contractual obligations контрактних зобов’язаньoutside the extent of the contract поза межами контрактних

зобов’язаньwithin the extent of the contract в об’ємі контрактних

зобов’язаньwithin the limits of the contract у межах контрактних

зобов’язаньcancellation of contract расторгнення контракту

should the contract be cancelled у разі расторгнення контрактуdate of cancellation of a contract дата расторгнення контракту

term of contract термін дії контракту

expiry of a contract term, expiration закінчення терміну дії of a contract term контрактуin compliance with a contract term згідно терміну дії контрактуto prolong a contract term продовжити термін дії

контракту

ЗРАЗОК ПОВНОГО КОНТРАКТУAGREEMENT

This Agreement is made this _____day of ____________, 1999, by and between _______________________, [a _____________corporation with its principal office at _______________] or [an individual with an office and mailing address at ___________] (“Agent”), and [company name], a corporation organized and existing under the laws of _______________, with its principal place of business at ______________________________________________________________ (____________).

RECITALSWHEREAS, ________is engaged in, among other things, the business of international trade, and in particular, international trade involving ________ (collectively, the “Products”); andWHEREAS, Agent has experience in matters involving trade in the Products and, in particular, trade involving the Products with and in __________ (the “Territory”); and

WHEREAS, _________ desires to purchase and sell Products from and to entities in the Territory, and desires to work with Agent concerning such trade of Products to and from the Territory; and

WHEREAS, Agent is willing and able to provide such services to ________.

NOW, THEREFORE, in consideration of the mutual promises and covenants set forth below, __________ and Agent understand and agree as follows:

1. Appointment ________ hereby appoints Agent as its non-exclusive service provider, on the

УГОДАЦю Угоду укладено “__” _____1999 року між __________ [корпорацією, головна контора якої знаходиться за адресою: ____________] чи [особою, контора якої знаходиться за адресою: __________] (“Агентом”) і [назва компанії], корпорації, що заснована і діє відповідно до законодавства ___________, головна контора якої знаходиться за адресою: ______________________________________________________________ (____________).

ЗАГАЛЬНІ ПОЛОЖЕННЯБЕРУЧІ ДО УВАГИ, що ____, серед іншого, займається міжнародною торгівлею, і, зокрема, міжнародною торгівлею ________(товарами, у своїй сукупності іменованих “Продукцією”) і

БЕРУЧИ ДО УВАГИ, що Агент має досвід у справах, що стосуються торгівлі Продукцією, і, зокрема, торгівлі Продукцією з _________ (“Територією”) і на Території; іБЕРУЧИ ДО УВАГИ, що _____ бажає купувати Продукцію у осіб, що знаходяться на Території, а також продавати їм Продукцію, і бажає співпрацювати з Агентом у питаннях, що стосуються такої торгівлі Продукцією, що надходить на Територію і з неї, іБЕРУЧИ ДО УВАГИ, що Агент бажає і має можливість надавати такі послуги _________.

ТОМУ, з урахуванням обопільних зобов’язань і домовленостей, викладених нижче, ____________ і Агент досягли взаєморозуміння і домовилися про нижченаведене:

1. Призначення Агента Цією Угодою __________ призначає Агента для надання послуг на terms and conditions stated in this Agreement, relating to ___________ purchase of Products from and sale of Products to entities located in the Territory.

2. Duties and Obligations of Agent 2.A. Agent shall regularly consult with _________ on and inform _________ of any Product purchasing, selling, marketing, trading and related matters in the Territory, including but not limited to providing _______ with timely and accurate information concerning:

(1). prevailing marketing price and other sale terms for Products imported into the Territory; (2). prevailing market prices and other purchase terms for Products exported from the Territory;

(3) the identity of any persons or entities which are actual or potential importers of Products into and/or exporters of Products from Territory and potential buyers from or sellers to ____________;

(4) any other matters which may be of interest to ___________ in order to ensure that __________ is at all times kept well informed of market conditions and trade opportunities relating to the Territory, and with such other matters related to the foregoing as _______________ may reasonably request.

2.B. Agent shall inform ________ of changes in any laws, rules, regulations, or practices regarding the import and export of Products into and from the Territory or relating to other issues involving trade, finance, politics or business issues and events in the

неексклюзивних умовах, зазначених у даній Угоді, щодо придбання ________ Продукції у суб’єктів економічної діяльності, що знаходяться на Території, і продажу Продукції таким субєктам.2. Обов ’ язки Агента 2.А. Агент регулярно консультується з __________ з питань придбання, продажу, організації збуту Продукції, торгівлі нею і з подібних питань, а також інформує щодо згаданих питань про стан справ на Території, включаючи, аде не обмежуючись, наданням своєчасної і точної інформації, що стосується:(1) існуючих ринкових цін і інших умов продажу Продукції, ввезеної на Територію;(2) існуючих ринкових цін і інших умов придбання Продукції, експортованої з даної Території;

(3) визначенням національної приналежності осіб, що є реальними чи потенційними імпортерами і/чи експортерами Продукції на даній Території чи потенційними покупцями чи продавцями __________;(4) з усіх інших питанб, що можуть становити інтерес для _________, з метою забезпечення належного рівня його поінформованості про умови на ринку і можливості торгівлі Продукцією на даній Території, а також з усіх інших питань, у випадку, якщо ___________ звернеться з подібним прийнятним проханням.

2.Б. Агент інформує ___________ про зміни законодавства, нормативної і правової бази чи практики, що стосуються імпорту і експорту Продукції на даній Території, чи з інших питань, що стосуються торгівлі, фінансів, політики чи бізнесу і подій на Territory generally affecting the trade in Products.

2.C. Agent shall, when requested by _________, serve as a liaision between_____ and its customer or potential customers for the receipt, transmission,presentation, and explanation (where appropriate) of communications between _________ and potential or actual customers, both prior to, during and following the term of any contacts between ____________ and such entities.

2.D. Agent shall solicit offers to sell to or buy from potential buyers or sellers of Products in the Territory and forward such offers to ____________ by facsimile for acceptance or rejection by ____________.

2.E. Agent shall assist ___________, as it may request, in performing and

fulfilling its obligations under its contracts to sell to or buy Products from exporters from or importers into the Territory (such exporters or importers with contracts to sell to or buy from ________________ hereinafter collectively referred to as _____________’s “Customers”) including any ________________ obligation to arrange for and/or monitor the loading and unloading of vessels, arrange for necessary transport to or from ports in the Territory, present to or obtain documents from ____________’s Customers, arrange for the issuance of performance bonds and other related services in support under its purchase or sale contracts with its Customers.

2.F. Agent shall assist __________ employees and representatives when території, які можуть впливати на торгівлю Продукцією взагалі.

2.В. Агент, на прохання _____, забезпечує підтримання зв’язку між _______ і його клієнтом чи потенційними клієнтами, з метою одержання, передачі, надання пояснень (де це доречно) повідомлень і спілкування між ____ і потенційними чи реальними клієнтами, до початку, під час і після припинення терміну дії будь-якого контракту між _____ і такими суб’єктами економічної діяльності.2.Г. Агент консультує __________ з питань продажу чи придбання у потенційних покупців чи продавців на Території і передає такі пропозиції __________ за допомогою факсимільного зв’язку для їх прийняття чи відхилення ___.2.Д. Агент надає допомлгу, у випадку звернення до нього з

подібним проханням, у використанні зобов’язань за контрактами купівлі-продажу Продукції експотрерів і імпортерів на Території (експортерів чи імпортерів, що має контракти на продаж чи придбання Продукції _____, що тут і далі у своїй сукупності іменуються “Клієнтами”), включаючи будь-які зобов’язання щодо організації і спостереження за навантаженням і розвантаженням суден, організовує необхідну доставку до/з портів Території, пред’являє документи від Клієнтів і одержує документи від Клієнтів ________, організовує одержання гарантій виконання контрактів і інших, пов’язаних з виконанням контрактів, послуг, з метою надання підтримки у діяльності _________ за контрактами купівлі-продажу з Клієнтами.2.Е. Агент надає допомогу службовцям і представникам _____, they visit the Territory by helping obtain, at ____________’s cost, entry visas, hotel rooms, local transport, and with related logistical matters.

3. Compensation 3.A. In consideration of, and as full payment for the services provided by Agent under this Agreement, _______ shall pay to Agent a fee (choose one):

equal to ___________U.S. per _______ for all Products purchased or sold by _________ under a Covered Transaction _____________________________________ equal to ___________% of the final invoice price for all Products purchased or sold by ___________ under a Covered Transaction _____________ according to the rates set forth in the attached

Schedule A for all Products purchase or sold by ___________ under a Covered Transaction.

3.B. For the purposes of this Agreement, a “Covered Transaction” shall mean the purchase or sale of Products under a contract with a Customer dated during the term of this Agreement and which contract is either

(1) between __________ and a Customer introduced to ________ by Agent during the term hereof, or (2) successfully entered into or performed as a direct result of the effort and services of Agent. Notwithstanding anything in the foregoing to the contrary, a “Covered Transaction” does not include sales of ______ origin goods under _____ government export programs which prohibit the payment

коли вони прибувають на Територію, і сприяє в одержанні, за рахунок ________, в’їзних віз, готельних номерів, місцевих транспортних засобів і у відповідному матеріально-технічному забезпеченні.3. Відшкодування3.А. Як винагороду і повний розрахунок за послуги, надані за цією Угодою, ________ сплачує Агенту гонорар (виберіть один із варіантів):

що дорівнює _____ доларів США за ________, за всю Продукцію, придбану чи продану _______ у відповідності з Покритою операцією;що дорівнює _______%, ______ від остаточної фактурної ціни за всю Продукцію, придбану чи продану ________ у відповідності з Покритою операцією

_______ згідно зі ставками, зазначеними в Додатку А на всю Продукцію, придбану чи продану ______ у відповідності з Покритою операцією.

3.Б. У цілях цієї Угоди, “Покрита операція” означає придбання чи продаж Продукції за контрактом із Клієнтом, датованим протягом терміну дії даної Угоди, де контракт складений або (1) між _____ і Клієнтом, представленим _______ Агентом у вищезгаданий період, чи (2) успішно укладений і виконаний у результаті безпосередніх зусиль Агента і наданих ним послуг.Незважаючи на вищезгадані умови, де може йтися про протилежне, “Покрита операція” не включає продажу товарів, що походять із _____ відповідно до експортних програм уряду ______, за якими заборонено сплату комісійних, of commissions, fees, or other similar compensation.

3.C. All payments due to Agent under this Agreement shall be payable in ____________________ (unless otherwise prohibited) and will be paid solely by check or wire transfer. No payment will be made by ___________ in cash or bearer instrument. All payments will be made solely to Agent and to no other person or entity; payments made by wire transfer will be made to a bank account in Agent’s name at a bank located in the country of Agent’s principal place of business.

3.D. __________ will make payments due to Agent under this Agreement within __________ (_____) days:

(i) for Products purchased by ________ from Customers, the payment or delivery of other consideration by or on behalf of _________ to the Customer, or(ii) for Products sold by __________ to Customers, the actual receipt of funds for value or other full consideration by or on behalf of _______ from the Customer;provided, however, that prior to making any payment under this Agreement ______ shall have received Agent’s invoice for the full amount due.

3.E. Agent shall have no right to assign any portion of its rights to receive payments from __________ under this Agreement to any third party without the prior written consent of _________ and, unless otherwise agreed by ________ in writing, Agent and itsemployees shall personally perform theгонорарів чи інших подібних винагород.

3.В. Усі виплати, що належать до сплати Агенту відповідно до даної Угоди виконуються в ___________ (якщо це не заборонено іншими угодами) і виконуються винятково чеком чи телеграфним переказом. Жодні виплати не будуть здійснюватися готівкою чи документами на пред’явника. Усі виплати будуть здійснюватися вийнятково Агенту, а не будь-якій іншій особі чи суб’єкту економічної діяльності; платежі можуть бути виконані на банківський рахунок на ім’я Агента в країні місцезнаходження головної контори Агента.

3.Г. _______ робить виплати, що належать до сплати Агенту у відповідності з даною Угодою протягом _______ (_____) днів:

(і) за Продукцію, придбану ___________ від Клієнтів, за надання інших послуг ________ чи від його імені Клієнтам, чи(іі) за Продукцію, продану ______ Клієнтам, фактичне одержання коштів за чи еквівалент за надання інших послуг у повному обсязі ________ чи від його імені Клієнтам;однак, за умови, що до здійснення будь-якого платежу відповідно до даної Угоди ________ одержить рахунок-фактуру від Агента на всю суму, що належить йому.

3.Д. Агент не має жодного права передавати яку-небудь частину своїх прав на одержання коштів від _______ за цією Угодою жодній третій стороні без попередньої письмової згоди _________ і, якщо інше не передбачено ______ письмово, Агент і його персонал

services required by ___________. Agent further agrees that it will not pay or transfer any portion of the payments received from __________ to any foreign official or other person in violation of ___________ law.

3.F. In the event the Covered Transaction is part of a barter arrangement involving the exchange of commodities, the sale or purchase price (as the case may be) for purposes of calculating the fee due to Agent under this Agreement shall reflect the than existing market value of the Products sold or purchased as mutually agreed between Agent and _________.

4. Term; Termination

4.A. This Agreement will commence on _________, and shall continue in

effect thereafter until terminated (i) at any time by the mutual written consent of the parties or (ii) by either party with or without cause, by providing sixty (60) days prior written notice to the other.

4.B. Upon termination of this Agreement, Agent will have no further claim or right to for compensation or other payment of any kind whatsoever, except for the payment of fees earned prior to the termination date in accordance with Section 3 of this Agreement.

4.C. Notwithstanding anything in Clause 4.A. to the contrary, either party may terminate this Agreement with immediate effect upon the giving of notice in the event any term or provision of this Agreement.

особисто надають послуги, необхідні _______. Крім того, Агент згоден з тим, що він не буде сплачувати чи переказувати жодну частину коштів, одержаних від _______ нікому з іноземних посадових чи яких-небудь інших осіб у порушення законів ________.

3.Е. У випадку, якщо Покрита операція є бартерною і передбачає обмін товарами, ціна продажу покупки чи (у залежності від обставин) з метою визначення розміру гонорару, що належить Агенту за цією Угодою, повинна відбивати реальну ринкову вартість Продукції, проданої чи придбаної за взаємною згодою Агента і _________.

4. Терміни і припинення чинності Угоди4.А. Дана Угода набуває сили з _____ і залишається чинною до її

припинення (і) у будь-який час за взаємною письмовою згодою сторін (іі) будь-якої із сторін із зазначенням чи без зазначення причини, з наданням іншій стороні письмового попередження про це за _______ (_______) днів.

4.Б. Після припинення дії даної Угоди Агент не буде мати жодних претензій чи прав, крім як на виплату гонорарів, зароблених ним до дати припинення дії Угоди, у відповідності зі Статтею 3 даної Угоди.

4.В. Незважаючи на положення Статті 4.А. про протилежне, кожна зі сторін може припинити дію даної Угоди негайно, повідомивши про це, у випадку, якщо інша сторона діє всупереч будь-яким положенням чи умовам даної Угоди чи порушує їх.

5. Independent Contractor The parties expressly acknowledge and agree that Agent is an independent contractor and is not a partner, joint venture or employee of _________, Agent does not have, and will not hold itself out as having, any authority to bind _________ to any contract, debt or other obligation. Agent acknowledges and agrees that the negotiation of, agreement to all terms and conditions, and the execution of any purchase or sale contracts for Products with Customers shall be sole responsibility of ___________. Agent shall have the exclusive right and obligation to select, hire and supervise all persons hired by it and shall be solely responsible for the payment of any and all related compensation, wages and other liabilities imposed upon employers under labor and/or any applicable social legislation. Agent shall be solely responsible for any and all expenses incurred in providing

services to __________ under this Agreement, including but not limited to the cost of rent, office equipment, communications and travel, except where _________ has specifically agreed, in writing and in advance, to cover or reimburse Agent for any such expenses.

7.Miscellaneous7.A. This Agreement may not be amended or supplement except by written agreement signed by both parties hereto.7.B. This Agreement contains the entire agreement between the parties hereto with respect to the contents hereof and supersedes all prior5. Незалежна сторона в договоріСторони особливо застерігають і погоджуються з тим, що Агент є незалежною стороною в договорі і не є партнером, учасником спільного підприємства чи службовцем ________, Агент не має і не буде вимагати для себе повноважень зв’язувати ________ жодним контрактом, борговими чи іншими зобов’язаннями. Агент визнає і згоден, що переговори з приводу всіх умов і положень і згода на їхнє встановлення, виконання яких-небудь контрактів з Клієнтами на покупку чи продаж продукції є винятково прерогативою _____. Виключним правом і обов’язком Агента є добір, прийом на роботу і здійснення контролю за найнятими ним особами, і є єдиною особою, відповідальною за виплату будь-яких належних винагород, заробітної плати і розрахунків за іншими зобов’язаннями, що

накладаються на роботодавців згідно з трудовим і/чи іншим відповідним соціальним законодавством. Агент одноосібно відповідає за всі і будь-які витрати, понесені ним при наданні послуг _______ за даною Угодою, які включають, але не обмежуються, вартістю оренди, офісного устаткування, комунікацій і поїздок, за винятком випадків, про які ____________ особливо застеріг, письмово і завчасно, що він покриває чи відшкодовує Агенту будь-які з таких витрат.

7. Різне7.А. Ця Угода не підлягає змінам чи доповненням, за винятком тих випадків, коли такі виконуються за письмовою згодою і підписом обох сторін.7.Б. Цю Угоду складено за повною згодою сторін щодо її змісту, і вона заміняє собою всі попередні угоди іagreements and understanding between the parties, written or oral.

7.C. This Agreement shall be subject to the laws of the ____________. Any dispute arising between the parties under this Agreement which cannot be amicably resolved by the parties shall be subject to non-binding mediation using the services of a sole mediator under the mediation rules of the _____________ or such other recognized mediation service or association as the parties may mutually agree. If the dispute cannot be resolved by mediation then the dispute shall be referred to binding arbitration in ___________ according to the International Commercial Arbitration Rules and Procedures of the American Arbitration Association, with each party appointing an arbitrator and the two party-arbitrators appointing a third arbitrators-chairman. The arbitration award shall be final and binding, and

judgment upon the arbitrators’ award may be entered in any court of competent jurisdiction.

7.D. All notices required under this Agreement shall be given in writing by telex and registered mail. Notices shall be deemed effective 1 business day after being sent, in the case of telex notices, and, in the case of registered mail, after being placed in the mail, postage pre-paid, and addressed as follows:

домовленості, досягнуті між сторонами, письмові чи усні.

7.В. Дана Угода регулюється законами ______. Будь-який спір, що виникає між сторонами з приводу даної Угоди, що не може бути врегульований сторонами у дружній спосіб, підлягає врегулюванню за допомогою посередництва, що не є обов’язковим, із залученням одного посередника відповідно до правил проведення посередницьких операцій __________ чи іншої відомої посередницької служби чи асоціації, за взаємною згодою сторін. Якщо спір не може бути врегульований за допомогою посередника, тоді він передається на обов'’зковий розгляд до _________ відповідно до Міжнародних правил торгового арбітражу і регламенту Американської асоціації арбітражу, причому кожна зі сторін призначає

арбітра, а обидві сторони разом призначають третього арбітра, що виступає в ролі голови. Рішення арбітражу є остаточним і обов’язковим для виконання, а постанова суду з приводу арбітражного рішення може бути винесена у будь-якій належній судовій інстанції.

7.Г. Усі повідомлення, що вимагаються відповідно до даної Угоди, складаються у письмовому вигляді і пересилаються телексом чи у вигляді рекомендованої кореспонденції. Повідомлення вважаються дійсними через один день після відправлення телексом, а у випадку рекомендованої кореспонденції – за датою відправлення на поштовому штемпелі, з передоплатою поштових зборів, і надсилаються за адресою:

If to Agent: _____________________________________________________________________________________________ Attn: ___________________________If to __________:______________________________________________________________ Attn: ___________________________ 7.E. Agent agrees to keep private and confidential any and all information regarding _________________ and its business activities (and those of its parent affiliated companies) that _______ may disclose to it or that Agent may otherwise obtain, and further agrees that it will not disclose any such information to any other person or entity or use it for its own benefit without the express prior written consent of ____________. This Agreement is not a license and Agent has no right to use any of _________’s trade names, trademarks, service marks or other intellectual property except as

___________ may specifically agree in writing.

7.F. ________ shall have the right to engage other persons or entities during the term of this Agreement to provide the same or similar types of services to _________ relating to the trade of Products involving the Territory concurrently with the services provided by Agent under this Agreement.

7.G. This Agreement has been executed in two originals, one being kept by ___________ and one by Agent, but each original constituting one and the same document.Агенту:_____________________________________________________________________________________________Кому:____________________________________:______________________________________________________________Кому:__________________________7.Д. Агент погоджується не розголошувати і зберігати конфіденційність будь-якої і всієї інформації, що стосується _______ і ведення справ (і справ його материнської і дочірньої компаній), з якими ____________ може ознайомити його, а крім того, Агент погоджується не розкривати таку інформацію нікому з інших фізичних чи юридичних осіб, або використовувати для власної вигоди, не одержавши на це попередньо письмового підтвердження явно вираженої згоди ________. Дана Угода не є ліцензійною і Агент не має права

використовувати жодні з фірмових назв, торгових марок, знаків обслуговування й інших прав інтелектуальної власності, крім випадків, коли ________ у письмовому вигляді дає дозвіл на використання подібного.

7.Е. ________ має право залучити інших осіб чи об’єкти економічної діяльності під час терміну чинності цієї Угоди для надання ______ послуг подібного виду, які зв’язані з торгівлею Продукцією на даній Території, одночасно з наданням послуг, що надаються Агентом за даною Угодою.

7.Ж. Цю Угоду складено в двох примірниках, що є оригіналами, один знаходиться в _________, а інший – в Агента, причому обидва оригінали складають той самий документ.IN WITNESS WHEREOF, the parties by their authorized representatives have signed this Agreement as of the day and year above written.

AGENT

By: ____________________________

Title: __________________________

_______________________________

By: ____________________________

Title: __________________________

НА ПІДТВЕРДЖЕННЯ ЧОГО сторони через своїх уровноважених представників підписали дану Угоду вищевказаного числа і року.

АГЕНТ_______________________________

Посада: ________________________

_______________________________

_______________________________

Посада: ________________________

3. Translate the contract into Ukrainian

Company “Ranbaxy Laboratories Ltd.”, incorporayed under the law of India, represented by Dr. S.Augustine hereinafter referred to as “Seller” on the one part, and OO “Pharmatsia”, incorporated under the Chapter under the Ukraine legislation, represented by Marchenko N.A. hereinafter referred to as “Buyer” on the other part, have concluded the present Contract for the following:

1. SUBJECT OF THE CONTRACTThe Seller has sold and thr Buyer has bought on condition CIP Kyiv the pharmaceuticals as per Supplement No.1 attached, which presents Contract delivery. The specification, quality characteristics, price and marking of the sold goods shall conform to the terms and conditions stated in Supplement No.1 being an integral part of this Contract.

2. PRICE AND VALUE OF THE CONTRACTPrices for the pharmaceuticals delivered under the present Contract are defined in USD and are understood CIP Kyiv. The prices are firm and subjected to no alteration during the Contract time.

The total value of the contract is 21,000.00 (twentu one thousand) US Dollars only.

The price do not include duties and taxes necessary to be paid on the territory of Ukraine.

3. TIME OF PAYMENTPayments for the goods delivered under the present Contract are to be effected within 90 days after arriving of the goods in Kyiv (Borispil airport).

4. TIME OF DELIVERY

The delivery under the present Contract is to be effected within 3 months after the date of signing the present Contract.

4. Translate the extracts of the contract into Ukrainian using topical vocabulary

CONTRACTTrans N

Kyiv “ ____” _____________ 20 ____

Messrs.hereinafter referred to as the “Sellers”, on the one part, and … hereinafter referred to

as the “Buyers” on the other part, have concluded the present Contract for the following:

Subject of the Contract1.1. The Seller has sold and the Buyer has bought on conditions f.o.b. ____________________________________________________________________franco-railway car-border _______________________________________________the following equipment: ____________________________________________________________________________________________________________________in full conformity with the technical characteristics and in complete scope of supply specified in Appendix No. _______________________________________________

Prices and Total Value1. The total value of the equipment, spare parts, tools, technical documentation and services

in the volume of the present Contract amounts to US $ 2,143,108.00 (US-Dollar two million one hundred forty three thousand one hundred eight).

2. The prices per item are specified in Appendixes Nos. _____________________3. The prices are firm and subject to no alteration.4. The prices are understood ____________________________________________slowed, franco-railway car-border ____________________________________________________________________________________________________________or in accordance with other basic conditions of delivery including the cost of packing, marking and other delivery expenses.

Terms of PaymentPayments at the rate of _________ per cent of the value of the delivered equipment are to be effected in ____________________________________________________

(currency)within 30 days of the date of receipt by the Buyers of the following documents for collection:4.1 Sellers specified invoice – one Original and 2 copies (where Contract number and Trans

are to be indicated).4.2 Complete set of “clean-on-board” Bills of Lading issued with destination to the Odessa

port (Ukraine) ___________________________________________________________________________________________________________________

in name of _________________________________________________________________________________________________________________________a duplicate of the international railway bill issued with destination to the railway station ______________________________________________________________

in the name of the chief of the station for further transportation by means of railways through the railway stations ________________________________________________________________________________________________________________

to the railway station _______________________________________________________________________________________________________________

for _____________________________________________________________________________________________________________________________

per cent of value of the delivered equipment are to be paid upon expiration of the guarantee period provided the equipment corresponds to quantitative and qualitative indeces stipulated in the Contract.

Payment of this amount is to be effected upon expiration of the guarantee period within 30 days of receipt by the Buyers of the Sellers’ invoice and provided there are no grounded claims from the Buyers.

All Bank expenses for collection are to be paid as follows:- all expenses of the Bank of the Sellers’ country to be borne by the Sellers,- all expenses of the Bank for Foreign Trade of Russia to be borne by the Buyers.

Time of Delivery1. The delivery under the present Contract is to be effected _________________________________________________________________________________________2. By the specified time the equipment is to have been manufactured, tested, packed and delivered _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________3. The date of delivery is considered the date of “Clean on Board” Bill of Lading, the date stamped on the Railway Bill of the frontier station which received the cargo, he date of the parcel receipt.

Sanctions1. In the event of the Sellers’ delay in the supply against the dates stipulated in the Contract,

the Sellers are to pay to the Buyers penalty at the rate of 0.5% of the value of goods not delivered in due time for every week of the delay within the first four weeks and 1% for every subsequent week but not more than 10% of the value of the equipment not delivered in due time.

2. The penalties will be deducted from the Sellers’ invoices when they are paid by the Buyers. In case the Buyers for any reason do not deduct the penalty when paying the Sellers’ invoice the latter is obliged to pay the penalty amount at the first request of the Buyers.

3. Should the delay in delivery exceed four months the Buyer shall have the right to cancel the Contract or a part therof.

4. Should the shipment of the equipment not be notified or be notified with delay, the Sellers are to pay to the Buyers penalty at the rate of 0.1% of the value of the equipment already shipped.

Guarantee1. The Sellers guarantee:1.1. That the equipment supplied and technological process, automation and mechanization

are in full accordance with the highest world technical achievements and meet the highest standards for this type of the equipment existing at the time of delivery;

1.2. High quality of the materials used in the manufacture of the equipment, first rate workmanship and high quality of the manufacture and assembly;

1.3. That the supplied equipment has been manufactured in full conformity with the description, technical specification and with the conditions of the Contract;

1.4. That the completion of the equipment to be delivered and of the technical documentation supplied is in accordance with the requirements specified in the Contract;

2. The period of guarantee of the normal and trouble-free operation of the equipment is to be __12__ months from the date of putting it into operation but not later than ___18___ months from the date of shipment of the complete equipment.

The above period will be accordingly extended if start-up of the equipment is deferred or the operation of the equipment is stopped.

6. If the defects cannot be eliminated, the Buyers have the right to reject the defective equipment or to request a corresponding reduction from its price.

In case the Buyers reject the equipment they return to the Sellers for the latter’s account the faulty equipment and the Sellers are to repay the sums paid by the Buyers with __7%__interest per annum.

14.7. If during the commissioning period and/or final tests and/or during the guqrantee period the equipment or technical documentation prove to be defective and/or incomplete and/or not in conformity with the Contract condition, then irrespective of the fact that such deficiencies could be found during the tests of the equipment at the Sellers’ or their subcontractors’ works, the Sellers undertake to eliminate at their expense the detected defects immediately at the Buyers’ request by means of repairing or replacing the defective equipment or parts thereof with new ones of good quality.In this case the Buyers are entitled to demand from the Sellers payment of penalty as for delay in delivery at the rate and in accordance with the procedure stipulated in Clause 15 of the Contract, beginning from the date when the claim has been made till the date of elimination of the defect or till the date of delivery of new equipment instead of the rejected one.14.8. The replaced defective technical documentation, equipment and/or units are to be returned to the Sellers at their request and for their account within the period agreed upon by the Parties. All the transport charges and other expenses connected with the return and/or the replacement of the defective equipment both on the territory of the Buyers’ country and the transit country as well as on the territory of the Sellers’ country are to be borne by the Sellers.

Force Majeure16.1. The Parties are released from responsibility for partial or complete non-fulfillment of their liabilities under the present Contract, if this non-fulfillment was caused by the circumstances of Force Majeur, namely: fire, flood, earthquake, provided these circumstances have directly affected the execution of the present Contract.In this case the time of fulfillment of the Contract obligations is extended for the period equal ti that during which such circumstances last.

16.2. The Party, for which it became impossible to meet obligations under the Contract, is to notify in written form the other Party of the beginning and cessation of the above circumstances immediately, but in any case not later than ten days of the moment of their

beginning. The notification of the Force Majeure circumstances not made within 15 days deprives the corresponding Party of the right to refer to such circumstances in future.

16.3. The written evidence issued by the respective Chambers of Commerce will be a sufficient proof of the existence and duration of the above indicated circumstances.

16.4. If these circumstances last longer than six months, then each Party will be entitled to cancel the whole Contract or any part of it and in this case neither Party shall have the right to demand any compensation of eventual losses from the other Party.

The Sellers undertake in this case immediatily to reimburse the Buyers for all the advanced amounts paid by the latter under the present Contract.

Arbitration17.1 All disputes and differences which may arise out of or in connection with the present Contract will be settled as far as possible by means of negotiations between the Parties. If the Parties do not come to an agreement, the matter, without recourse to Courts of Law, is to be submitted for settlement to Arbitration, with its seat in Stockholm, Sweden.

17.2. Arbitration shall be established as follws:The Party which wishes to refer the dispute to Arbitration shall notify the other Party by a registered letter stating there the name and the address of the arbitrator chosen who can be a citizen of any country as well as the subject of the dispute, date and No. of the Contract.

Within 30 days of receipt of the above letter the other Party shall choose its arbitrator, and inform the first Party of it by a registered letter stating the name and the address of the arbitrator chosen.

17.3. If the Party which has received the notification of the dispute being submitted to Arbitration fails to choose its arbitrator within the said period, the latter, at the other Party’s request, will be appointed within 30 days of the date of the application by the President of the Chamber of Commerce in Stockholm.

17.4. Within 30 days the arbitrators shall choose an Umpire. If the arbitrators fail to agree upon the choice of the Umpire within 30 days after they have been nominated, the latter will be appointed, at the request of either Party by the President of the Chamber of Commerce in Stockholm, Sweden.

17.5. The award is to be issued by a majority of votes in accordance with the terms and conditions of the present Contract, and also the rules of Swedish Material Law.

17.6. The arbitration award shall state the reasons for its decisions and contain information about the arbitration membership, time and place of the award passed, mention of the Parties’ right to state an opinion, as well as the allocation of the costs and expenses of the Arbitration between the Parties.

The arbitration award is final and binding upon both Parties.

Tasks for individual work

1. Write a letter using phrases given below.

write an enquiry

We are interested in... produced by your company

We saw your product at the exhibition and would ask you to send us your latest catalogue

We are interested in purchasing... from your company We are in the market for ...

We would be obliged if you could quote your best prices and terms of delivery and payment

We would like to buy ...

Please send us your latest catalogue of goods and a price-list

Please send us samples of your product

Please send us full details of the products

We should like you to give us a quotation for...

Your prompt reply will be appreciated

write an offer

We thank you for an enquiry for our product...

In reply to your enquiry for...

We feel sure that you will be interested in...

Thank you for your letter of... in which you express your interest in ourproduct . ,

We thank you for your enquiry for ... and would like to inform you that we can make you an offer

May we draw your attention to the enclosed samples of productsmanufactured by our company

By today's post we have sent you samples of...

You will be interested to hear about our latest products that we have just introduced onto the market

We have pleasure in offering you

write an order

We thank you for......... of 9 May enclosing the sample of your product

We have pleasure in informing you that your quotation for ... was received I by us, and flow we enclose our order...

We thank you for your quotation of 6th May for... and are pleased to accept it

We are pleased to establish business relationships and are placing an order for ...with you

We wish to place a trial order for...

In confirmation of our telephone conversation of... we are pleased to enclose our trial order for... with you

We are looking forward to your prompt confirmation of the order

Please dispatch as quickly as possible

We would be much obliged if you would supply the following as soon as possible

We find however that the prices you have quoted are too high ... The alternative is for you to adjust your prices by reducing them by 5%

We shall be glad if you acknowledge acceptance of our order and of the conditions stated above

Enclosed you will find our order

Attached to this you will find...

- write a letter of confirmation of1.a previous agreement / arrangement,2. of shipment of goods,3. of order;- write invitations and answer them using cards given below

In celebration of the Birthday of His Majestythe Emperor of Japan

the Ambassador of Japan and Mrs Koji Watanabe request the pleasure of the company of

________________________________________________________________________________________

at a Reception on Wednesday, December 20, 1995

from 12:00 to 14:00 at "Olympic Penta Renaissance Hotel"

Please bring this card with you

The Directorsof

THE UNIVERSAL GROUP FOR UNIVERSAL COMMUNICATION

requests the pleasure of your company at a ______________ to be held at the ____________________, at 7 p.m. on Friday 12

July, 1996.Evening dress RSVP 1

1 repondez s’il vous plait – прохоння прислати відповідь

- write a letter of condolence

We are writing to express our sincere sympathy on the death of the Directorof your company...

Please accept our deepest sympathy and condolences on the sad death of theChairman of the Board of Directors of your company ....

Please accept our sincere condolences on this sad occasion...

We were deeply grieved to hear of the untimely death of the ManagingDirector of your company...

- write a letter of congratulation

Permit me to congratulate you on your promotion to Managing Director of the company...

May we congratulate you on your promotion ...

Please accept our sincere congratulations on ...

We congratulate you on...\

We were delighted to read in the bulletin that you were appointed the General Manager of your company...

We congratulate on ...

Congratulations...

2. Read and translate the text. Be ready to answer the new words and word combinations. Discuss the text with the teacher.

What is business?In 1989 Peter Drucker talked about sharp transformations, or divides, that signal fundamental changes in the basic structure of society. Piore and Sabel developed the same theme in their book, The Second Industrial Divide.2 These authors trace the development of those processes and key transformations in business that have had profound effects on society. They begin their discussions with the creation of guilds, go on to describe the industrial revolution, and end with a delineation of business activity during the first half of the twentieth century. These authors pay homage to The Wealth of Nations by Adam Smith as they develop the various transformations that have led to the postmodern industrial era.It would be easy, and almost obligatory, to proceed down the same path as these authors have described and provide a similar review of business history. Yet we need not go back that far in time, because a great deal has changed since the third edition of this book. In 1998 the Internet was beginning to blossom and dot-corns filled the landscape. Enron had burst on the scene and was changing the face of competition for public utilities. Many of the large, investor-owned utilities could not understand, even take seriously, an energy company that did not own its own generation capability. Yet within less time than it took these businesses to reach their apogee, many of them also hit their nadir. We will introduce dominant themes that are occurring in the rapidly changing business world of today.

These dominant themes are related, and they lay a foundation for under standing what is going on in today's business environment. By delineating these themes, we show that business as usual is a bankrupt concept. A number of fundamental changes have occurred that impact business and the larger society of which it is a part. These changes are reflected in the following themes. One theme is the new competition, in which a new

business paradigm affects the very soul of the business enterprise. The second theme is based on a shift to a knowledge-based society and the rise of the intelligent enterprise. The third theme refers to the rise of cooperation among firms that now compete as con-stellations of companies. These ecosystems of firms are as strong as their weakest partner. They vie for resources and customers against other competing constellations of firms. These ecosystems redefine how managers should think about competition and competitive forces. We believe that these themes set a tone for many of the issues raised in this book. More important, these themes reflect basic changes in how business will be discussed and transacted in this new century. The fourth and final theme is the rise of the Internet and its profound effect on business through the rise of e-commerce and e-business. It can easily be argued that this innovation has been the most disruptive form of change because there were no templates available from which to learn. Management was flying blind; some firms figured it out, and others crashed.

Each of these major themes has caused management to rethink the relevance of their existing skills and capabilities. The question of core competency has become inextricably linked to the larger question of what business we are in. Referred to as the tyranny of the served market, a firm s current business blinds management from thinking about untapped opportunities. The old adage of "if it ain't broke, don't fix it" might appear to ring true, but in reality, "when it ain't broke" might be the perfect time to challenge the status quo. Similarly, we have been taught to listen to our existing customers. Innovator's Dilemma suggests that by listening too closely to a current customer who is steeped in a present market, new opportunities will very likely go unchallenged. Compounding the problem is that our current processes for resource allocation make it very diffi cult to fund projects for which the market is nascent and whose size is, at best, difficult to forecast. If the innovative project is kept within the confines of the traditional organization, it is bound to die early. The question becomes how to free the new business from the bureaucracy and shackles of the traditional business model. Partly, our goal here is to provide tools for thinking beyond the status quo and challenging current models and frameworks.

THE NEW COMPETITIONAt the core of the new competition is the belief that the entrepreneurial firm will drive continuous improvement. Based on the Schumpeterian notion of creative destruction, these firms offer a new approach to business production and processes. Benetton, for example, is a collection of collaboratively linked smaller firms that manufacture, design, and market a line of stylish clothing based on a model first developed centuries before by Italian lace producers. Benetton, the name most people recognize, is mainly a marketing and distribution company that relies on its alliances and cooperative relationships to design and manufacture under its label. There are many other examples of networks of companies that form virtual corporations with the sole intention of challenging the dominant paradigm by which business conducts itself. During the 1980s and the 1990s a number of industries have converged and been redefined. Recognizable names like Nike, FedEx, Nucor, Calyx & Corolla, and Dell have emerged as change agents in their respective industries. More recently, other cutting-edge companies have continued to redefine their competitive spaces. Telezoo, LendingTree, CNet, and many others have used the power of the Internet to bring buyers and sellers together and have reduced significantly the asymmetry of information between trading parties that had traditionally existed.

A number of Internet companies that thrived during the mid-1990s, fueled by venture capital dollars, came to a hard landing during the time before and after our celebration of the new millennium. Nonetheless, wealth and jobs were created, and the Internet

transformed businesses because time and distance became irrelevant. The problem of information asymmetry was solved through transparency, and business as usual became the exception. The new technology that drove the Internet allowed businesses to reengineer their processes as well as to innovate new ways to deliver value across the globe. Internet sites allow shoppers to compare, via one click, dozens of competing offerings. For example, car buyers now have insight into the cost structure of a new car, and the price dance with the salesperson and the sales manager over discounts is out of step with todays music.

The new competition is based on four dimensions and is driven by a proactive approach to strategy whereby the competitive landscape is not taken as a given, but rather is subject to reinterpretation. Managers strive to invent the world in which they choose to compete, often by changing the rules of the game. These four dimensions are (1) the firm, (2) the production chain, (3) the sector, and (4) the government.

The FirmThe firm here is defined as an entrepreneurial company, which is in contrast to the firm as portrayed by Chandler and others who view the firm through a bureaucratic hierarchy. Here, the firm strives to maintain continuous improvements in support of its strategic goals. Innovation comes as a result of marginal gains in production, processes, and organization. Innovation is seen as part of the learning process, which lies at the core of the firm's values and culture. While a centralized research and development facility can engage in sea-change levels of innovation, the entrepreneurial firm survives by its ability to induce workers at all levels to participate in small, incremental attempts at continuous improvement. There is no question that inventions derived from work at Bell Labs have changed the course of history. Yet AT&T's bureaucratic structure and regulatory environment inhibited the firm's ability to turn these innovations into competitive advantages in a number of markets. Competitors like MCI, with their relentless attempts to create innovative marketing programs, have caused AT&T to lose important and costly market share in a number of areas such as the residential long-distance market. Bell Labs was spun off with the creation of Lucent, which has fallen on hard times, partly because of the economic downturn and partly because it has fallen out of touch with its customer base. In fact, since C. Michael Armstrong has taken the helm as CEO, AT&T has shed its cable TV business that it spent billions to acquire; rumors circulated that AT&T and BellSouth were to merge and that AT&T was considering selling its long-distance business. From an apparent strategy of providing connectivity across all media, AT&T is beginning to refocus its efforts. Since the breakup of the Bell System, AT&T has struggled to redefine itself.

The Production ChainThe notion of the production chain is similar to the value chain concept in which each discrete phase of value-adding activity is traced from the acquisition of raw material to its sale and after-sale service. The traditional model presumes that these activities are all performed internally in the firm. Under the new competition, it is quite likely that firms will partner to perform value-adding activities and, through cooperation, allow one firm to better leverage the unique skills and competencies of another firm.

In an attempt to be more price competitive, firms across all sectors have searched for ways to extract more value from their total supply chain through rethinking channel flows, removing redundancies, linking value chain members through shared information systems like MRP2, ERP, and other enterprise software solutions, and/or outsourcing functions that can be done better by others. Dell and Cisco have become exemplars for others who wish to understand how to assemble virtual supply chains. Both companies have transparency throughout the supply network and use technology to effectively link all parts of the system.

The SectorThe previous discussion suggests the existence of a network of firms that transcends the single firm. Now the interfirm cooperative relationships become the appropriate level of analysis. Alliances and partnerships become key success factors in a large number of industries. The business sector becomes the focal point of discussion, and interfirm relationships driven by cooperative interests become the meaningful competitive metric. A more traditional model might view such cooperative actions as cartel-like behavior. Such an interpretation would suggest that cooperation is anticompetitive and serves to stifle innovation. Under the new competition, the opposite is true, because these new organizational linkages often give rise to heightened competition and are the result of new and innovative thinking. Milliken, for example, sits at the hub of a number of interfirm networks whose immediate goal is to improve the inventory levels of the apparel industry through economic order levels and other types of just-in-time systems. This cooperation from the mill to the fabricator, retailer, and consumer removes unnecessary costs from the entire channel of distribution. This is but one example of supply chains that have been reconfigured to adjust to changing demands, competitive pressures, or attempts to gain competitive advantage. Wal-Mart has taken the helm in the reconfiguration of its value chain. As the largest U.S. company (by revenue), it has through its information technology changed the face of retailing.

The GovernmentAt a deeper level, the Milliken example represents a change in government policy regarding the interpretation of antitrust behavior. By focusing on a different level of analysis, concern now shifts to international trade: At stake is the survival of the U.S. textile industry as it attempts to compete against lower-cost Asian imports. There is talk of greater consolidation among the U.S. steel producers since this industry has been under siege for many years. Similar stories can be told about the horizontal alliances among global airlines, ocean shipping, and the various research consortia that exist in the semiconductor, specialized metals, and multimedia industries. In short, when the new competition is taken to a global context, firms do not have the luxury of a go-it-alone strategy and are likely to be severely disadvantaged if they try to do so.

One example of a successful consortium is Airbus, the firm created by European aerospace companies who joined forces to compete with Boeing and in recent years has proven itself to be a formidable competitor. Each of the firms would be hard-pressed to survive on its own, but their joint efforts and favorable governmental support have contributed to a rise in their market share, even in the United States. As we discuss elsewhere in the book, capital and knowledge know no company or national boundaries. Access to national resources is not sufficient to ensure success. The only sustainable means of production is knowledge. Drucker suggests that the function of the business enterprise is to make knowledge productive.

THE INTELLIGENT ENTERPRISEThe notion of the intelligent enterprise has a profound impact on the definition of business. Our goal is not to argue that the U.S. economy has shifted away from its manufacturing base and has become a service economy. Rather, our intent is to show how this transition has reshaped managers' thinking.

Basic Restructuring of the EconomyBasic power relationships have shifted away from those who produce to those who control information. Whether we examine Toys "R" Us, Wal-Mart, or Boeing, it is clear that all are driven by a need to compete through reduced cycle time. For these retailers, the issue is

how to reduce inventory levels so they can be responsive to changing customer tastes. To be sure, Wal-Mart tracks consumer tastes and distribution costs with equal concern. For Boeing, the question is how to develop, FAA-certify, and sell a new generation of aircraft in the fastest possible manner without sacrificing quality and safety. For all three companies, sharing information with their partners contributes to competitive success. These linking technologies permit real-time information access and sharing that have restructured the economy. It is important to recognize that the Boeing 777 went from concept to production without the different stages of development and prototypes experienced with the production of the 757 or the 767.

Different Organizational StrategiesThe notion that organization follows strategy must be complemented by the second adage that structure follows technology. Organizations have become flatter as a result of technology, and the concept of mass production as the only way to achieve low costs has become passe. In later chapters we espouse the merits of mass customization. To be sure, this new paradigm has changed the face of business forever! Again, these different structures and strategies are knowledge-based and depend on information exchanges both among functional units within the firm and among different organizations. In short, command-and-control administrative systems are not effective with these new organizational forms. In addition, the strategies that emerge allow innovative relationships with customers and competitors. These new strategies are driven, in part, because of the expanding role of managers throughout the firm, as we discuss in Chapter 12, "Leading from the Middle."

Management ChallengesMore and more, the distinction between manufacturing and service is fading, as the two become more intertwined. The issue becomes one of understanding the full value chain, recognizing unique competencies, and identifying the skills essential for competitive advantage. In many instances, core competencies center on an ability to use and manipulate knowledge. In addition, it is possible that this knowledge is not resident in the firm and must be leveraged from its partners. In the health care arena, for example, a number of key business strategies are involved in accessing information about patients for the purpose of improving total disease management. It was not long ago that drug companies fought for market share by drug category. Now the rules have changed, information is key, and the total cost of managing a disease is of paramount concern. The Merck-Medco merger was driven in large measure by the information Merck received from its new subsidiary about the use of drugs. Now Merck has plans to sell off Medco to fuel its new drug development efforts.

A primary challenge becomes knowing what investments need to be made in infrastructure and people to accomplish your goals. As stated earlier, both capital and information know no boundaries—if not managed wisely, these factors of production are fungible and move across both firm and national boundaries. A key goal for todays senior executives is to enable managers to encourage and develop their knowledge workers. Related to these managerial challenges are regulatory concerns affecting the nature and scope of competition, the protec-tion of intellectual property, and global trade policies.

Knowledge ManagementIt is recognized that knowledge management is the key to competitive success. The key differential advantage that a firm holds rests within the heads of its employees. To tap that potential and to disseminate the collective body of knowledge throughout the firm provides limitless opportunities to both lower costs and increase revenue. Buckman Labs spends close to 5 percent of its revenue on knowledge management practices to foster

enterprisewide thinking. Admittedly, the return on investment (ROI) of such efforts is hard to measure. Nonetheless, the ability to transform a firm into a learning organization has significant payback. Capturing information and data that feed into both the explicit and tacit knowledge base of the firm accelerates the firm's ability to generate new knowledge. Just in the ability to share information across the firm, companies like Hewlett-Packard (HP) save millions of dollars per year. Cutting the cycle time on new product introductions that benefit from the collective wisdom of many people can have a profound effect on future profitability.

It should be noted that these knowledge systems are not about building sophisticated IT systems, although these systems and networks do enable the process. Since knowledge management feeds the innovative and creative processes of the firm, facilitating structures and systems must exist within the firm. Yet even this is not enough. The values of the firm and culture must support the idea of information/knowledge sharing. The ability to align values, strategy, and implementation to support the tenets of a learning organization is a nontrivial exercise.

UNDERSTANDING BUSINESS ECOSYSTEMSMoore uses the biological metaphor of looking at business relationships as an ecosystem to examine a new paradigm for understanding competition and the effects of competitive forces. Rather than focus on downsizing and cost reduction as the default response to a hostile business environment, managers should attempt to create market opportunities. These opportunities often come through innovation and a new way of viewing the marketplace - seeing the market from the perspective of those who can change the competitive terrain. Often, change comes by working more closely with customers and suppliers to jointly create the future. Even the term industry might be obsolete in that it presumes an easily delineated business area in which a fixed set of firms compete. One need only look to the convergence of voice, data, and video technologies to appreciate the difficulty in defining the scope of competition in this burgeoning industry. Partners compete with partners in one part of the market and cooperate in other parts; ventures are started and disbanded at a moments notice; and the technology changes daily. There is an element of complexity reflected here that is unparalleled in recent business history. Survival is based on an ability to transform and adapt to new business conditions—similar to evolution in the biological arena. One consulting firm estimates that by 2004, close to $42 trillion in revenue will be generated by firms working collaboratively. However, close to 60 percent of these relationships will be plagued by underperformance. As these constellations form, much learning is needed to shed past behaviors and attitudes.

The business ecosystem evolves from conversations with suppliers and customers and is not limited to more traditional analyses that compare competitors head-to-head regarding their skills and competencies. The objective here is to cast a wide intellectual net and see where it is possible to change the rules of engagement and to develop a sustainable value proposition at the same time. If you go beyond the term as first defined by Moore and think about an ecosystem as an entire networked system that creates value, the nature of interacting with customers has changed profoundly. Companies are now symbiotically linked to provide value; information about customers is shared openly across all interfaces; customer relationships are not owned by a firm since the ecosystem is responsible for customer service/care; and all parts of the system must act in sync since the customer expects nothing less than seamless delivery.

THE INTERNET

As we reflect on the hype that accompanied the rise of the Internet, both its power and its flaws strike us. The advantages of the Internet and the ability to transcend both distance and time have proven to be effective for linking people and companies across the globe in real time. Virtual communities of interest meet to discuss topics of common interest, and companies have been built on a business model that defies traditional logic. This technology has made it possible to develop collaborative relationships and build effective cross-company teams to develop new products in record time with higher quality and lower costs dian the vertically integrated model could. These Web-based technologies facilitate a firm s ability to reengineer all of its business processes, including product design, supply chain management, and sales and distribution relationships. However, the Internet has, in a number of instances, not lived up to its potential. The failure of many dot-corns has focused inquiry on the causes. While there is no single explanation, it appears that failure can be attributed to execution of the business plan. It seems that there were ineffective communications – an inability to interact with customers, not fully understanding their needs and not fully meeting their expectations. The level of cash burn was not the reason for failure, but rather a measure of ineffective strategies put into place. In other instances, people began to believe their own press, and overcapacity doomed the telecom craze as markets and customers never materialized.

IMPLICATIONSAs we embark on a new century, it is clear that the criteria that defined business in the past century are less relevant. The present generation of managers has witnessed changes in how firms are managed and how they are defined. Terms like economic value added (EVA), brand equity, and lifetime value of a customer have changed the metric by which firms are evaluated. Exhibit 1.1 compares the market values of Bethlehem Steel and Nucor. You can infer from this exhibit that Wall Street's perception of the value inherent in integrated steel mills has decreased over time. In the early 1900s, vertical integration was a sign of market strength and dominance. Even today, some firms struggle to let go and rely on others to complete the value chain. Wal-Mart, a nonmanufacturing firm, has become the largest firm of the Fortune 500. Enron, a company that has fallen from grace, became one of the world s largest energy providers not because of the size or efficiency of its generation capacity but because of its knowledge of energy futures.

EXHIBIT 1.1 Comparison of Bethlehem Steel and Nucor.

Source: Reprinted with permission of Harvard Business School Press. From GDI Value Growth Database, cited in Slywotzky, Value Migration (Boston: HBS Pres, 1996), p. 9. Copyright © 1996 by the Harvard Business School Publishing Corporation; all rights reserved.

It was not the traditional electric utility concerned with balancing loads, ensuring that its distribution lines survived storms or that its customers had electricity 24/7. Instead, Enron developed its models and honed its trading acumen. Then the company began to unravel, showing its off-balance-sheet debt to be too great to sustain its growth. Enron, once a model of transformation, crashed amidst greed, questionable business practices, and ineffective governance and oversight. The list of fallen companies has multiplied as the public's confidence in business hits new lows.

The role of business has changed dramatically, and the transformations that point to fundamental changes in the basic structure of society alluded to at the beginning of this chapter are likely to occur more frequently. Andy Grove, CEO of Intel, confirms this view and speaks of inflection points that cut to the heart of the business, threatening its existence. Inflection points reflect those moments at which changes in the nature of competition, technology, or the marketplace present profound opportunities and/or threats for a firm s future survival. The role of senior management will be to set the vision that ultimately transforms the business. However, it is often the middle manager who needs to anticipate this change, who appreciates its potential impact, and who is charged with implementing a response. Success often hinges on execution - achievement of goals is truly in the details! The chapters that follow move with facility between questions of strategy and problems of implementation. All the chapters combine to prepare the reader for the challenges that face managers in the twenty-first century. Our journey takes a number of turns and twists. Some chapters focus on the traditional functional business disciplines such as marketing and operations. Others address the details of accounting, quantitative analysis, net present value, and option pricing models.

Still other chapters soar into the stratosphere of the corporate environment by dealing with the business policy level as we address issues germane to entrepreneurship and the creation of wealth and value, to strategy and the management of alliances. These issues stand side by side with a discussion of the effects of empowerment, the stresses associated with the changing social contract, the need to incorporate business ethics as an essential part of management s thinking, and the challenges inherent in leading from the middle.

AppendixПереклад основних скорочень у мові торгівлі

Acronyms Used in International TradeACDA Arms Control and Disarmament Агенство по контролю над

Agency озброєнням та розброєнням

ACP African, Caribbean and Африканські, карибські таPacific countries тихоокеанські країни

ACTPN Advisory Committee on Консультаційний комітетTrade Policy Negotiations з переговорів у сфері торгівельної

політики

AD anti-dumping Антидемпінговий

Ad Val ad valorem tariff rate Тарифна ставка з ціни

ADB Asian Development Bank Азіатський банк розвитку

A/DS Agent Distributor Service Управління з реалізації(U.S. Commerce Department) (Міністерство торгівлі США)

AECA Arms Export Control Act Закон про контроль над експортом зброї

AFDB African Development Bank Африканський банк розвитку

AFDF African Development Fund Африканський фонд розвитку

AID U.S. Agency for International Агенство з міжнародногоDevelopment розвитку США

AIT American Institute in Taiwan Американський інститут у Тайвані

APCAC Asia-Pacific Council of Азіатсько-тихоокеанський союз American Chambers of Commerce американських торгівельних палат

APEC Asia-Pacific Economic Азіатсько-тихоокеанське економічнеCooperation співробітництво

APTA Automotive Products Trade Act Закон про торгівлю продукцієюавтомобілебудівництва

CG-18 Consultative Group of Консультативна група вісемнадцаті Eighteen (GATT) (ГАТТ)

CIF cost, insurance and freight Вартість страхування і фрахтCIME Committee on International Комітет із справ міжнародних

Investment and Multinational інвестицій та багатофункціональних Enterprises підприємств

CIMS Commercial Information Система управління комерційноюManagement System (U.S. інформацією (Міністерство торгівлі Commerce Department) США)

CIS Commonwealth of Independent Співдружність незалежних країнStates

CIT Court of International Trade Міжнародний торгівельний судCITA Committee for the Implementation Комітет із справ реалізації

of Textile Agreements угод з текстилюСITIC China International Trust and Кітайська міжнародна трастова та

Investment Corp інвестеційна корпораціяCIV Customs Import Value Митна вартість імпортуCMP country marketing plan Національний план з маркетінгуСNUSA Commercial News USA Комерційні новини США

(U.S. Commerce Department) (Міністерство торгівлі США)COCOM Coordinating Committee for Комітет координації експорту

Multilateral Export “стратегічних товарів”CODEX Codex Alimentarius Commission Комісія з продуктів харчуванняСOE Council of Europe Рада ЄвропиCOMECON Council for Mutual Economic Рада економічної взаємодопомоги

AssistanceCON consul, consular section Консул або Консульський відділCOP cost of production Вартість виробництваCP Contracting Party Договірна сторонаCPAC Commodity Policy Advisory Консультаційний комітет з товарної

Committee політикиСPE centrally planned economy Економіка з централізованим

плануваннямCSCE Conference on Security and Нарада з безпеки і співробітництву

Cooperation in Europe в ЄвропіCSIS Center for Strategic and Центр стратегічних і міжнародних

International Studies винаходівCT countertrade Зустрічна торгівляCTA Committee on Trade in Комітет з торгівлі

Agriculture (GATT) сільськогосподарськими продуктамиCTF Certified Trade Fair (U.S. Офіційний торгівельний ярмарок

Commerce Department) (Міністерство торгівлі США)CV constructed value Загальна вартістьCVD countervailing duty Компенсаційний митний тарифCXT common external tariff Единий зовнішній тарифDAC Development Assistance Комітет допомоги розвитку

Committee (OECD)DAV domestic added value Внутрішня додана вартістьDCs developed countries Розвинуті країниDF duty free безтаможений

DISC Domestic International Корпорація внутрішньої та Sales Corporation міжнародної торгівлі

DOC U.S. Department of Commerce Міністерство торгівлі СШАDOD U.S. Department of Defense Міністерство оборони СШАDOT U/S/Department of Transportation Міністерство транспорту СШАDRAM dynamic random access memory Дінамічна пам’ять з вільним виборомDS dispute settlement Вирішення спорівDSU Understanding on Rules and Угода про взаєморозуміння правил та

Procedures Governing the процедур, вирішення спорів Settlement of Disputes (Уругвайський раунд)(Uruguay Round)

EAA Export Administration Act (U.S.) Закон про контроль за експортом (США)

EAI Enterprise for the Americas Ініциатива “Підприємництво для обох Initiative Америк”

EBRD European Bank for Європейський банк реконструкції та Reconstruction and Development розвитку (ЄБРР)

EC European Community Європейська СпівдружністьECDC economic cooperation among співпраця між країнами, що

developing countries розвиваютьсяECE Economic Commission for Економічна комісія для Європи

EuropeECGF Export Credit Guarantee Послуги з гарантій експортних

Facility кредитівECSC European Coal and Steel Європейське об’єднання вуглю та

Community сталіECU European currency unit Європейська валютна одиницяEEC European Economic Community Європейська економічна

співдружністьEEP Export Enhancement Програма розвитку експорту

Program (U.S.) (США)EFTA European Free Trade Європейська асоціація вільної

Association торгівліEMS European monetary system Європейська грошова системаEMU European monetary unit Європейська грошова одиницяEPC Economic Policy Council (U.S.) Рада економічної політики (США)

or European Patent Convention або Европейська патентна конвенціяEPROM erasable programmable Програмний постійний пристрій,

read-only memory що запам’ятовуєERs export restraints Експертні обмеженняERM exchange rate mechanism Механізм валютних курсівESA European Space Agency Європейське космічне агенствоESAF Enhanced Structural Послуги поліпшення

Adjustment Facility структурного регулюванняESCMIA Education, Scientific and Закон про ввезення навчальних,

Cultural Material Import Act наукових та культурнихматеріалів

ESP exporter’s sales price Ціна реалізації експортуETC export trading company Експортна торгівельна компанія

ETSI European Telecommunications Європейський інститут стандартів уStandards Institute сфері телекомунікацій

EU European Union Європейський СоюзEx-Im Bank Export-Import Bank of the Екпортно-імпортний банк США

United StatesFAO Food and Agricultural Organization Харчова та сільськогосподарська

оргацізаціяFARA Foreign Agents Registration Act Закон про регістрацію іноземних

представниківFAS Foreign Agriculture Service Закордонна сільськогосподарська

(U.S. Agriculture Department) служба (Міністерство сільського or free alongside ship господарства США) або франко

на борту суднаFCIA Foreign Credit Insurance Асоціація страхування іноземних

Association (U.S.) кредитівFCN Freedom, Commerce and Угода про свободу торгівлі та

Navigation Treaty мореплаванняFCO Foreign and Commonwealth Міністерство закордонних справ з

Office (U.K.) питань співдружності (Об’єднанеКоролівство)

FCPA Foreign Corrupt Practices Act Закон про рушійних закордоннихметодів

FCS Foreign Commercial Service Закордонна комерційна служба (U.S. Commerce Department) (Міністерство торгівлі США)

FDIUS Foreign Direct Investment Іноземні прямі інвестиції СШАin the U.S.

FISC Foreign International Sales Корпорація закордонної і міжнародноїCorporation торгівлі

FMC Federal Maritime Commission Федеральна комісія морського (U.S.) мореплавання (США)

FMS foreign military sales Закордонний продаж військової техніки

FMSCR foreign military sales credit Кредит для закордонного продажувійськової техніки

FMV foreign market value Вартість на закордоному ринкуFOB free on board Франко-бортFOGS functioning of the GATT Функціонування системи ГАТТ

systemFOIA Freedom of Information Act (U.S.) Закон про свободу інформаціїFOR free on rail Франко-вагонFOREX foreign exchange Іноземна валютаFOT free on truck Франко-вивізFR Federal Register (U.S.) Федеральний реєстрFTA free trade area or free trade Зона вільної торгівлі або

agreement Угода про вільну торгівлюFTC Federal Trade Commission (U.S.) Федеральна комісія торгівлі (США)FTS Federal Telecommunications Федеральна система телекомунікацій

System (U.S.) (США)FTZ foreign trade zone Закордонна торгівельна зонаFTZ-board Federal Trade Zone Board Федеральне управління торговлі

зонамиFTZ-SZ FTZ-Subzone Закордонна торгівельна субзонаFV fair value Вартість у поточних цінахFX Foreign Exchange Service Служба іноземних валютGAB General Agreement to Borrow Генеральна угода по займамGATS General Agreement on Генеральна угода по торговлі

Trade in Services послугамиGATT General Agreement on Tariffs Генеральна угода по торговлі та

and Trade тарифахGCC Gulf Cooperation Council Рада із співробітництва країн

Мексиканського залівуGDP gross domestic product Валовий національний продуктGEF Global Environmental Facility Служба глобальної охорони

навколишнього середовищаGNG Group of Negotiations on Goods Група переговорів про товариGNP gross national product or Валовий національний продукт або

government procurement урядові постачанняGNS Group of Negotiations on Група переговорів з послуг

ServicesGP-zones general purpose FTZs Закордонні торгівельні зони

загального призначенняGSP Generalized System of Генеральна система преференцій

PreferencesGSTP global system of trade Глобальна система торгівельних

preferences преференційHM home market Внутрішній ринокHS Harmonized System Гармонічна системаHTS Harmonized Tariff Schedule Гармонічна тарифна шкалаHTSUS Harmonized Tariff Schedule of Гармонічна тарифна шкала

the United States Сполучених ШтатівIA Import Administration Управління імпорту (Міністерство

(U.S. Commerce Department) торгівлі США)IAEA International Atomic Energy Міжнародне агенство з атомної

Agency енергіїIBRD International Bank for Міжнародний банк реконструкції

Reconstruction and Development та розвиткуIC integrated circuit or Інтегрована схема або Комітет

Industry Committee of the OECD ОЕСР у сфері промисловостіICA International Coffee Agreement or Міжнародна угода з кави або

International Cocoa Agreement or Міжнародна угода з какао, абоinternational commodity міжнародна угода з сировиниagreement

ICAO International Civil Aviation Міжнародна організація Organization цивільної авіації

ICB international competitive bidding Міжнародні конкурсні торгиICC International Chamber of Міжнародна торгівельна палата

CommerceICITO Interim Commission of Тимчасова комісія Міжнародної

International Trade Organization торгівельної організаціїICO International Coffee Organization Міжнародна організація з кави

IDA International Development Міжнародна асоціаціяAssociation розвитку

IDB (or Inter-American Development Міжамериканський банк розвиткуIADB) BankIEC International Electrotechnical Міжнародна електротехнічна

Commission комісіяIEEP International Emergency Закон про надзвичайні міжнародні

Economic Powers Act економічні уповноваженняIESC International Executive Міжнародний корпус

Service Corps адміністраторівIFAD International Fund for Міжнародний фонд

Agricultural Development сільськогосподарського розвиткуIFC International Finance Міжнародна фінансова

Corporation корпораціяIFI International Finance Міжнародний інститут

Institution фінансівIIC Inter-American Investment Міжамериканська інвестеційна

Corporation корпораціяIIPA International Intellectual Міжнародний союз інтелектуальної

Property Alliance власностіILO International Labor Міжнародна організація

Organization праціIMF International Monetary Міжнародний валютний фонд

FundIMO International Maritime Міжнародна організація

Organization морського судноплавстваINR initial negotiating right Первісне право на переговорахINRA International Natural Міжнародна угода з реалізації

Rubber Agreement натурального каучукуINRO International Natural Міжнародна організація з

Rubber Organization реалізації натурального каучукуINTELSAT International Telecommunications Міжнародна організація

Satellite Organization супутникового зв’язкуIOS International Organization Міжнародна організація

for Standardization стандартизаціїIPAC Industry Policy Advisory Консультативний комітет

Committee (U.S.) промислової політики (США)IPC Integrated Program for Об’єднана програма з сировини

CommoditiesIPR intellectual property rights Права інтелектуальної власностіISA International Sugar Agreement Міжнародна угода з реалізації цукруISAC Industry Sector Advisory Консультативний комітет у

Committee (U.S.) промисловому секторі (США)ISO International Standards Міжнародна організація із

Organization стандартизаціїITA International Trade Administration Управління міжнародної торгівлі

(U.S. Commerce Department) (Міністерство США) або or International Tin Agreement міжнародна угода з олова

ITC International Trade Commission Комісія з міжнародної торгівліITO International Trade Organization Організація міжнародної торгівлі

IWC International Whaling Commission Міжнародна комісія з китобійногопромислу

JCCT Joint Commission on Об’єднана комісія з комерції таCommerce and Trade торгівлі (США-Мексика)(U.S.-Mexico)

JCP Japan Corporate Program Програма розвитку фірм ЯпоніїJETRO Japan External Trade Організація зовнішньої

Organization торгівлі ЯпоніїLAFTA Latin American Free Trade Латиноамериканська зона вільної

Area торгівліLASU Large Aircraft Sector Угода з промисловості, що виробляє

Understanding потужні літакиLC letter of credit АкредитивLDC less developed country Малорозвинута країнаLIBOR London Interbank Offered Лондонстка міжбанківська ставка

RateLLDC least (or lesser) developed Найменш розвинута країна

countryLOT level of trade adjustment Рівень регулювання торгівліLTA long-term arrangement Долгострокова угода (текстиль)

(textiles)LTFV less than fair value Вартість нижче ринковоїMDB multilateral development bank Багатосторонній банк розвиткуMFA Multi-Fiber Arrangement Угода із змішаних волоконMFN most favored nation найбільш сприятлива націяMIGA Multinational Investment Агенство з гарантій

Guarantee Agency багатонаціональних інвестиційMITI Ministry of International Міністерство міжнародної торгівлі та

Trade and Industry (Japan) промисловості (Японія)MNC multinational corporation багатонаціональна корпораціяMOFERT Ministry of Foreign Міністерство зовнішньоекономічних

Economic Relations and зв’язків та торгівлі (КНР)Trade (PRC)

MOSS Market-Oriented Sector- Ринковий сектор – специфічний Specific negotiation переговорний процес (США-Японія)process (U.S. – Japan)

MOU memorandum of understanding Меморандум про взаєморозумінняMPT Ministry of Post and Міністерство пошти та зв’язку

TelecommunicationsMSA Multilateral Steel Agreement Багатостороння угода із сталіMT metric tons Метричні тониMTN multilateral trade negotiation Багатосторонні торгівельні

переговориMTO Multilateral Trade Organization Організація торгівлі на

багатонаціональній основіNADBANK North American Development Bank Північноамериканський банкNAFTA North American Free Trade Північноамериканська угода

Agreement про вільну торгівлюNAM non-aligned movement Рух неприєднанняNIC newly industrializing country Нова промислова країна, яка

розвиваєтьсяNIE newly industrializing economies Нові промислові економіки, які

розвиваютьсяNIS New Independent States Нові незалежні державиNME non-market economy неринкова економікаNOAA National Oceanic and Національне гідроиетеорологічне

Atmospheric Administration управління (Міністерство(U.S. Commerce Department) торгівлі США)

NP Nairobi Protocol Протокол НайробіNSC National Security Council (U.S.) Рада національної безпеки (США)NTB non-tariff barrier Нетарифний бар’єрNTDB National Trade Data Bank (U.S.) Національний банк данних з

торгівлі (США)NTE new to export or Такий, що знову експортується

National Trade Estimates Report або Звіт про стан національноїторгівлі

NTIA National Telecommunications Національне управління зв’язкуand Information Administration та інформації (Міністерство(U.S. Commerce Department) торгівлі США)

NTIS National Technical Information Національна служба технічноїService (U.S. Commerce інформації (МіністерствоDepartment) торгівлі США)

NTM new to market or non-tariff Новий на ринку абоmeasure нетарифний захід

NTT Nippon Telephone and Компанія “Неппон телефон енд Telegraph Co. телеграф ко.”

OAS Organization of American Організація американських країнStates

ODA official development assistance Офіційна допомога розвиткуOECD Organization for Economic Організація економічної співпраці та

Cooperation and Development розвиткуOEM original equipment manufacturers Попередні виробничі комплектуванняOMA orderly marketing agreement Угода про упорядкування ринківOMC Office of Munitions Control Управління з озброєнняOPEC Organization of Petroleum Організація країн-експортерів нафти

Exporting CountriesOPIC Overseas Private Investment Корпорація закордонних приватних

Corporation (U.S.) інвестицій (США)OTA Office of Technology Управління технічних оцінок

Assessment (U.S. Congress) (Конгрес США)PAS Paris Air Show Парижський авіасалонPCG policy coordinating group Група координації політикиPEC President’s Export Council (U.S.) Експортна Рада при Президенті

(США)PL public law Публічний законPL 480 public law (U.S.) – Agricultural Публічний закон (США) – Закон про

Trade Development and розвиток та допомогу у торгівліAssistance Act (“Food For Peace”) сільськогосподарськими продуктами

(“Продукти заради миру”)PPA protocol of provisional Протокол про попереднє

application використанняPOI period of investigation Період розкриття розслідуванняPOR period of review Період аналізуPRC People’s Republic of China Китайська Народна РеспублікаPSI pre-shipment inspection Контроль перед відправленнямPUDD potential uncollected dumping Потенційний неотриманий

duty антидемпінговий податокPVOs private voluntary organizations Приватні організації добровольцівQR quantitative restriction Кількісне обмеженняR&D research and development Дослідження та розробкиRBP restrictive business practices обмежувальна практика бізнесуS&D special and differential treatment Спеціальний та диференціальний

режимSAR Structural Adjustment Послуги структурного регулювання

FacilitySB surveillance body Контролюючий органSBA Small Business Administration Управління із справ малого бізнесу

(U.S.) (США)SCM subsidies and countervailing Субсидії та компенсаційні заходи

measuresSDR special drawing rights Спеціальні права запозиченняSEED Support for East European Підтримка Східноєвропейської

Democracy демократіїSIC standard industrial Стандартна промислова

classification класифікаціяSII Structural Impediments Ініциатива усунення структурних

Initiative (U.S.-Japan) перешкод (США-Японія)SIMIS single internal market Інформаційні системи на окремих

information systems внутрішніх ринкахSIMS single internal market Послуги окремим внутрішнім

service ринкамSITC Standard International Стандартна міжнародна торгівельна

Trade Classification класифікаціяSNPA substantial new program індивідуальна нова програма дій

of actionSPS sanitary and phytosanitary санітарні та фітосанітарні заходи

measuresSTC security trade control Контроль за безпекою торгівліSTE state trading enterprises Державні торгівельні підприємстваSTR special representative for Спеціальний представник по

trade negotiations торгівельним переговорамTAA Trade Adjustment Assistance Програма допомоги у регулюванні

Program (U.S.) торгівлею (США)TBT technical barriers to trade Технічні перешкоди у торгівліTCMD Third Country Meat Directive Директива відносно продажу

м’яса у третю країнуTD Trade Development (U.S. Розвиток торгівлі (Міністерство

Commerce Department) торгівлі США)TDP Trade and Development Програма з торгівлі та розвитку

Program

TEC common external tariff Единий зовнішній тарифTELMEX Telefono de Mexico Компанія “Телефоно де Мехіко”TNC Trade Negotiations Committee Комітет з торгівельних переговорівTPC Trade Policy Committee (U.S.) Комітет з торгівельної політики

(США)TPM trigger price mechanism Механізм ціноутворенняTPRG Trade Policy Review Group (U.S.) Група з аналізу торгівельної політики

(США)TPRM trade policy review mechanism Механізм вивчення торгівельної

політикиTPSC Trade Policy Staff Committee Кадровий комітет у сфері торгівельної

or Trade Policy Sub-Committee політики або Підкомітет з торгівельної політики

TRIMS trade-related investment Інвеститаційні зоходи, що відносятьсяmeasures до розвитку торгівлі

TRIPS trade-related aspects of Аспекти прав на інтелектуальнуintellectual property rights власність, що стосуються торгівлі

TSB Textile Surveillance Body Орган з нагляду за продажем тканинами

TSUS Tariff Schedule of the U.S. Тарифна шкала СШАTWA trade-weighted average Сбалансоване середнє значення у

торгівліTWEA Trading With the Enemy Act Закон про “Торгівлю з ворогами”UN United Nations Організація Об’єднаних наційUNCITRAL United Nations Center on Центр ООН з міднародного

International Arbitration Law арбітражного законодавстваUNCAD United Nations Conference Конференція ООН з торгівлі та

on Trade and Development розвиткуUNCTC United Nations Center on Центр ООН із справ

Transnational Corporations транснаціональних корпораційUNDP United Nations Development Програма розвитку ООН

ProgramUNEP United Nations Environment Програма ООН відносно охорони

Program навколішнього середовищаUNESCO United Nations Educational, Організація ООН з питань

Scientific and Cultural освіти, науки та культуриOrganization

UNIDO United Nations Industrial Організація ООН з промисловогоDevelopment Organization розвитку

UR Uruguay Round Уругвайсткий раундUSC U.S. code Кодекс законів СШАUSDA U.S. Department of Agriculture Міністерство сільського господарства

СШАUSDOC U.S. Department of Commerce Міністерство торгівлі СШАUSEC U.S. Mission to European Місія США при Європейській

Communities СпівдружностіUSIS U.S. Information Service Інформаційна служба СШАUSITC U.S. International Trade Комісія США зміжнародної

Commission торгівліUSOECD U.S. Mission to the Organization Місія США при Організації

for Economic Cooperation економічної співдружностіand Development та розвитку

USP U.S. price Ціна СШАUSTR U.S. trade representative or Торгівельний представник США

Office of the U.S. Trade або Управління торгівельногоRepresentative представника США

Література1. Кумарова М.Г. Новый бизнес английский. Курс деловой

лексики английского языка. – М.: Ассоциация авторов и издателей «ТАНДЕМ». Издательство ЭКМОС, 1998. – 400с.

2. Хачатурова М.Ф. Английский язык для делового общения с зарубежными партнерами. – Киев. Издательство «КРИНИЦЯ», 1999 – 278 с.

3. Основи перекладу. Курс лекцій з теорії та практики перекладу. – Київ. “Ельга Ніка-Центр”, 2002 – 237с.

4. Лукьянова Н.А. Настольная книга бизнесмена. – М.: ГИС, 2000. – 576 с.

5. Деловая переписка с зарубежным партнером / Сост. и общ. ред. канд. экон. наук А.В.Плотникова. – К.: МП «МИРА», 1992. – 128 с.

6. Особливості ділового письма англійською мовою: Практичний посібник / Укладачі Л.В.Федоряченко, О.В,Куровська. – К.: Товариство “Знання”, КОО, 1998. – 114 с.

7. Данілова З.В., Лямзіна Н.К. Правові основи бізнесу. – Лвів, 1999. – 180 с.

8. Robert F. Bruner…[et al]. The Portable MBA. - John Wiley & Sons, Inc., Hoboken, New Jersey, 2003 – 340 p.

9. Renee Huggett. Business Studies for GCSE/ - Collins, London, 2000 – 220 p.

10. Ashley A. A Correspondence Workbook. Oxford University Press, 1999. – 107 p.