商贸英语实用对话 Unit11:Line of Credit

（11）Line of Credit
◆ An American importer meets with a Taiwan exporter to discuss terms of payment.
◆ Importer : Thank you for meeting with me this morning. We've been getting together quite often lately. My company is very pleased with the deal I've been able to negotiate.
◆ Exporter: Yes, we've been able to undersell the competition with our new hearing device.
◆ Importer: Now that we've settled on a price, we need to discuss terms of payment. Is it necessary to do anything special in the way of payments for international trade?
◆ Exporter: You could have the goods sent on consignment.
That way you wouldn't have to pay until you actually sold the hearing devices.
◆ Importer : But wouldn't we get a better deal if we bought the goods outright? We'd expect to be able to obtain a reasonably large reduction in price.
◆ Exporter : Yes, you would; and we'd prefer to have the money up-front, so we can pay off our transistor supplier.
◆ Importer ： Has the supplier indicated a need for money?
◆ Exporter : Oh, no. They're an enormously well-financed organization. It's just that we'd get a discount if we paid before the fifteenth of the month. Importer Can we pay you by check?
◆ Importer : Can we pay you by check?
◆ Exporter : The customary method of payment in international trade is the letter of credit. A local bank will grant you, let's say a letter of credit line of $250,000. You would then need to pay one half the total invoice in local currency. The balance would be payable upon receipt of the goods.
◆ Importer : How can I open a letter of credit?
◆ Exporter : You would need to describe the transaction to the bank, and specify the documents the bank needs. For example, the certificate of insurance.
◆ Importer : I see no reason why my company can't operate this way.
◆ Exporter: We ask you to use an irrevocable letter of credit. this means that the bank would guarantee payment even if your company is unable to pay. This way we maintain continuous control over our financial risk until the final payment is made.
◆ Importer : I guess the next step is for me to visit the bank. Thank you for making my first importing experience a pleasant one.
◆ Exporter : Well, exporting is what we're in business for. I notice that you have very few hesitations about beginning.
◆ Importer : You've calmed my fears marvelously.