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Contents Objectives of Training To acquaint students with basic knowledge on the three principal terms of payment: remittance, collection and letter of credit; To familiarize students with the structure of letters concerning issuance, amendment and extension of an L/C as well as related terms and useful expressions; To cultivate students’ ability to write letters on the issuance, amendment and extension of an L/C. Probable Working Environment He Jun works at Ningbo Yongsheng Mechanical Manufacturing Co., Ltd as a salesman. This company specializes in producing a variety of hardware products, such as nails, screws, nuts, connectors, fittings etc. Last month, he got a new customer from Guangzhou Fair, and then Probable Working Environment sent a sample to him upon his requirement. Last week, the customer confirmed the quality of the sample and made a counter- offer. In order to show his sincerity to conclude the transaction with the customer, He Jun accepted the counter- offer but couldn’t agree with him on the Probable Working Environment terms of payment. His customer asked for T/T after shipment, while He Jun only could accept L/C at sight. Suppose you are He Jun, you are expected to write a letter to Saunders Clinton, his American customer to persuade him to accept his terms of payment by L/C at sight. Training Guidelines Specimen Letter From: hejun@ To: saundersclinton@ Date: Mon. April. 22, 2010 09:35 Subject: accept terms of payment by L/C at sight Specimen Letter Dear Mr. Clinton, We are pleased that the business between us has proved to be very smooth and successful. Our past contract of Golden Deer” Brand bicycles has been paid as a rule by Documents against Payment. Specimen Letter On this basis, it has indeed cost us a great deal. From the moment we purchase raw materials till the time you pay us, our funds are tied up for about three months. Under the present circumstances, th
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