BANKING - CORRESPONDENCE BETWEEN BUYERS AND SELLERS I. Sentence- building 1.

Draw/ us/ amount/ invoice/ attach/ documents/ listed below/ your draft.

2. We/ propose/ pay/ bill of exchange/ 30d/s,/ documents/ acceptance.// confirm/ acceptable/ you.

3. You/ draw/ our London agents, Mr/ 60 days/ amount/ invoice.// our agent/ instructed/ accordingly/ advised/ terms / our agreement.

4. We/ received/ letter/invoice/ 3 January/ willing / accept/ draft/ amount involved,/ payable/ 60/ sight.

5. We/ agree/ accept/ goods/ 3 shipments/ you/ draw/ us/ 90/ date of dispatch/ case/ each shipment.

6. In view/ current low levels/ prices/ we/ ask/ you/ limit/ drafts/ us/ 60%/ amount/ you/ expect/ obtain your consignments, or/ we/ unable/ meet/ drafts.

7.

I/sorry/ say/ find/ myself/ unable/ meet/ bill, / due/ 1 December, and/ I / sure/ you/ appreciate/ difficulty/ which/ I / placed. // If/ kindly / accept/ $300 cash/ and

draw/ further bill/ me/ 2 months / balance/ $150 plus/ interest/ 6%.// I /most grateful/ you/ guarantee/ hornour/ it/ presentation.

8. We/ surprised/ find/ you/ drawn/ us/ last shipment,/ as/ we advised you/ letter/ 11 February/ we/ handle/ goods/ consignment basis only.// Please/ note/ we/ accordingly declined/ accept/ bill/ instance.

9. Your draft/ shipment/ S.S Caltutta/ presented/ yesterday/ duly met.// We/ now/ ask/ if/ you/ willing/ supply / future/ 60 days, D/A terms, / other suppliers/ your country/ already allowing/ this credit.

10. Goods/ arrived/ excellent condition/ we/ fully/ satisfied/ them.// If you/ guarantee/ repeat/ quality/ we/ place large orders/ you,/ and/ case/ we/ require/ open account terms.// please/ let/ know/ if/ you prepared/ grant/ these,// settlement/ bankers transfer/ 30 days/ date/ your quarterly statement.

11. Your proposal/ pay/ draft/ acceptable/ us/ we/ accordingly/ draw/ you/ 2 months/ date/ shipment/ your order.

12. We/ note/ you/wish/ draw/ London agents/ amount/ invoice.// This/ acceptable/ us/ and we/ send/ our draft/ attention/ as soon as/ goods/ ready/ shipment.

13. We/ pleasure/ advising/ you/ order/ no/ dispatched/ S.S Banji / presented/ you/ the Great Oriental Bank, Shanghai, / we/ grateful/ if/ you/ kindly/ give/ protection.

14. We/ apologise/ our failure/ advise / we/ drawn/ us.// This/ due /misunderstanding / and/ take care/ avoid/ recurrence.

15. Your request/ open account terms/ considered/ and/ pleased/ grant/ facility.//We/ however/ prefer/ draw/ sight bill/ you/ quarterly/ favour/ the Export Bank of Autralia,/ we/ hope/ agreeable/ you.

II. Letter- writing A foreign customer has been buying from your firm for a year and has honored your sight draft on presentation. He now asks for open account terms with quarterly settlement by B/E. Write two letters, one agreeing to his request and one asking for an irrevocable letter of credit covering the amount of his quarterly requirements.