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Chapter 4 Amendment of LC. Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise.

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Presentation on theme: "Chapter 4 Amendment of LC. Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise."— Presentation transcript:

1 Chapter 4 Amendment of LC

2 Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Exercise Keys to Exercises

3 Exercise Exercise 1. Please amend the relevant L/C by telex to enable us to ship the goods within the time stipulated in the contract. 2. In the event you fail to do so, we will have to ask you to compensate us for all the losses. 3. We have received your telex of September 29, in which you asked us to extend our L/C for two weeks. 4. Your compliance with our request will be highly appreciated.

4 Exercise Exercise 5. In this case, we earnestly hope that you will understand our situation and extend the letter of credit to the end of August. 6. We hope that this amendment will meet with your approval and thank you for your cooperation. 7. As direct sailings from our port to Sydney are few and far between, we expect you to allow us to ship the goods via Hong Kong. 8. Please amend the L/C as allowing transshipment and partial shipment.

5 Exercise Exercise 9. The steamer on which we have booked shipping space is cancelled. As a result, we have to ask you to extend the covering L/C. 10.The L/C calls for direct shipment, but it is out of the question.

6 Exercise Exercise 1. To our regret, your L/C was found not properly _____ on the following points in spite of our request. ( ) A. amend B. to amend C. amending D. amended 2. We hope that the stipulations of your L/C are in ______ with the terms of the contract. ( ) A. conformity B. conform C. conformability D. comfort 3. We have received your L/C _____ the Bank of China. ( ) A. opened with B. opened in C. opened through D. opened at D A C

7 Exercise Exercise 4. Please amend your L/C No ______ transshipment and partial shipment. ( ) A. allow B. to allow C. allowing D. as allow 5. We suggest that you _______ the covering letter of credit without the least possible delay. ( ) A. will open B. shall open C. open D. can open 6. You should be responsible for all the losses ______ the delay in opening the relative L/C. ( ) A. resulted from B. resulted in C. resulting in D. resulting from B C D

8 Exercise Exercise 7. We hope that the amendment can reach here before March 12, ______ the shipment cannot be effected as requested. ( ) A. and B. or C. unless D. but 8. As a result of our close cooperation, substantial business has been concluded _____ our mutual satisfaction. ( ) A. to B. with C. by D. on 9. We are ______ that we failed to ship the goods on s.s. Sunshine as scheduled. ( ) A. regrettable B. regret C. regretful D. regretless B A C

9 Exercise Exercise 10. ______ checking the stipulations, we find your L/C calls ______ shipment by the end of this month. ( ) A. On, of B. On, for C. After, on D. After, at B

10 Exercise Exercise

11 Exercise Exercise Dear Sirs, We are in receipt of your letter dated April 10,requesting for extension of the L/C. We are sorry to learn that the letter of credit reached you 20 days late. We have seen into this matter and found that the responsibility lies on our bank. We apologize for keeping you waiting. In accordance with your request, we have instructed our bank to extend the shipping date and the expiry date to May 2 and May 17 respectively. The faxed extension to the letter of credit will reach you soon. We are sorry for the trouble we have brought to you and hope that you can ship the goods at an early date. Yours faithfully,

12 Exercise Exercise Dear Sirs, Your letter of credit No covering your order No was received yesterday. We regret to point out the fact that the letter of credit reached here 20 days late. In this case, we cannot but ask you to extend the shipping date and the expiry date to May 2 and May 17 respectively. In addition, the amendment charges should be for your account because of your delay in issuing the L/C. We are waiting for your faxed extension to the letter of credit so that we can effect shipment of the goods. Thank you. Yours faithfully,


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