LectureElevenL

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1、Lecture Eleven L/C and Collection LettersExpressions1. Accredit vt. International Accreditation by “AMBA”2. *- handling bank, 经办行，handling personnel; *- handling capacity*- ;3. *- issuing bank 出票行、开证行；issuing firm 发行企业4. *-accept vt. Acceptance 承兑；accepting bank n. 5. *-confirm /confirmation 1.确认；2保

2、兑； 6. A confirmation or an acceptance is binding upon party concerned to a transaction. 、/=Sb is bound to do sth. 7. bill of exchange or draft 汇票。 8. *-advising bank: (= Advised through: )9. *- negotiate vt. 议付 negotiating bank；议付行10. documents n. 单据 documentary L/C跟单信用证11.到期日*- expiry date n. v.s m

3、aturity date n. 12.*-汇票 draft = bill of exchange ; sight bill = draft at sight 即期汇票；13. *-draw :提款 be drown on (the Buyer) v.s drawn by (the Seller). 14. *-consign vt.发货 consigner; v.s consignee: 15. *- against 凭 The relief shall be released to the earthquake victims against their ID cards. 16. Thos

4、e invoices should be claimed back on expenses against the signature of the boss.17. *- pro rata 递增、递减18. *incur （成本、费用，权利、义务） v.s be borne by sb (Sir, to work overtime is to incur additional costs, if you insist on delivery of your goods ahead of schedule, then the additional cost to be incurred sha

5、ll be borne by your party. )19. *-Itinerary n. 20. *-chargeable banking n. 21. *- to open an account with Bank. /deposit money with Bank; III Supplementary Materials for Undergraduates of Dept. of FinanceEconomics & Management School, Wuhan UniversityCase-studiesI. Documentary Letter of Credit BANK

6、OF ENGLAND, DUBAI BRANCH DUBAI, U. A. E. IRREVOCABLE DOCUMENT Date: July 1, 1998-TARY L/C Credit No.: 09534 By Cable Confirmation_Advising bank: Applicant: Bank of England, Shanghai, China Islamic Electronics Trading Co. LtdThrough Bank of England, Dubai, U. A. E Dubai, U. A. E._ Beneficiary: Amount

7、: US $500,000 ( Five hundredChanghong Import & Export Co. Ltd thousand U. S. dollars only )Shanghai, P. R. China Expiry Date: November 1, 1999 in Shanghai for negotiation._Gentlemen: We hereby issue in your favor this documentary letter of credit which is available by negotiation of your draft at si

8、ght drawn on Bank of England, Dubai Branch bearing the clause:“Drawn under documentary credit No. 09534 of Bank of England, Dubai Branch”accompanied by the following documents: 1). Complete set of clean on board ocean bill of lading originally approved by a Chinese official institution plus five non

9、-negotiable copies made out to order and endorsed in blank that notifies the consignee at Port of Dubai of the United Arab Emirates; 2). Commercial invoice in seven copies , all are to be approved by a Chinese official institution; 3). Packing List and Weight Note in six copies; 4). Certificate of O

10、rigin in tenfold issued by an official institute; 5). Insurance Policy or Certificate issued by the Peoples Insurance Company of China endorsed in blank covering marine and war risks including sixty days at customs warehouse of Dubai, U. A. E.; Terms of Shipment: Shipment: from Shanghai, the Peoples

11、 Republic of China to Port of Dubai, U. A .E. not latter than October 31, 1999; Covering Goods Description: Changhong Color TV sets 1,000 ( one thousand only ) pieces, as per Sales Confirmation No. CIE 684903 covered by Islamic Electronics Trading Co. Ltd, Confirmation Order No. 913 which must be sh

12、own on all invoices. Consignee and Order placed by: Islamic Electronics Trading Co. Ltd., P. O. Box 216, Dubai, U. A. E. Country of Origin: The Peoples Republic of China. Documents to be presented within 15 days of the date of the bill of lading. Partial shipment may be made against pro rata drawing

13、s. Transshipments permitted on through Bill of Lading. Special Conditions: Any bank charges which are for openers account must be claimed not later than the date of presentation of documents. Two Certified Invoices and one negotiable Bill of Lading are to be sent by cable directly to the consignee b

14、y the negotiating bank that are to confirm that they have done so. We hereby engage with drawers and / or bona fide holders that drafts drawn and negotiated in conformity with the terms of this credit will be duly honored on presentation and that drafts accepted within the term of this credit will b

15、e duly honored at maturity. The amount of each draft must be endorsed on the reverse hereof by the negotiating bank.Please debit/credit this amount to our account with your bank. 借记我册。I. Points for Attention to Writing of Collection Letters (Reminders)催款信I ) Recall and bear in mind the 4 “C” in comm

16、unication.II. mmmmmMamagement I.Values Today: A firms core competency to a substantial extent can be seen in its ability to win contracts.Business Topic : Managemrnt Business Skills: Managing projects.II. Stresses of Teaching: I ) Parties involved in Management of a Pbysical project and their intera

17、ctions; II ). Tender Documents and Bidding Documents: III Language Points: *- continued success, robust growth, sustainable growth; address problem to meet a needs. ; vision, vision statement; norms, *- needs and wants; consultancy ; rating; ranking, standing; *- brain storm; *- product placement ;

18、solution; alternative pros and cons *- as an alternative to sth, *- prioritise; in time, within the budget; be ahead of schedule, behind the schedule; 2.( expressions for reference) : *-preliminery project feasibility studies; opportunity studies; project evaluation, parties to a project, client/own

19、er of a project, consulting industry, *-FIDIC; Invitation for Bids; Lump sum project, Negotiated project; measurement pricing; *- Bill of Quantities; *-over-run in time/cost; under-run in quality and performance; 3. other expressions with “*-”, colored or boxed in the lecture; PMP; Open tendering Sl

20、ective bidding ; pre-qualifications ; entrants ; Bid Bond; Performance Bond, Nominated Issuer of Bonds. Bid Reviewing; Contract awarding, infrastructure build-ups, capital construction, *- capital improvement progam;*- project identification;*- scope of work; *- specifications;II ). Sentence Pattern

21、s: (ask students to make sentences after the patterns)1.*-They are to implement the project on invitation for bids;2. *- They hav made break-through in technology 3. Under the preferential policies of the Peoples Municipal Government of Wuhan, they shall also have access to funds.4. If they mean to

22、compete against the foreign MNEs in price and performance, they have to manufacture the product on mass scale.5. They are to undetake a capital improvement of their existing facilities and equipment.6. They succeeded in becoming pre-qualified/short-listed; IV. Activities I ). Check up previous assig

23、nment :. 1. Simulated telephone-making in pair, Students are picked out randomly; 2. translation of previously assigned expressions;II ). Reading Text “Branding ” New expressions and sentence patterns in the text:III ) *-Caoching : 1. Illustrating the operation of a physical project on the part of a

24、 client:Parties and Stake-holders to a ProjectParties concerned to a given Project Consultants/advisors ( designer, engineer, surveyor) Contractor and suppliersStake-holdersBank/lender;Indirect investors;Other non-financial institution lenders*- The relationships and operation of Parties to a given

25、projectClientEngineer Designer SurveyorContractorNotice: designer is also termed as architect, client is also termed as customer in other books.2. Leading Approaches to Selecting Consultants and Contractor/suppliers;1 )Selection of consultants (award commission )/ : on presentations, interviews and

26、negotiation:2 ) Selection of contractors (award construction contract): on “Invitation for Bids” 1. The Tender Documents and Bidding Documents: nature and function:1). Tendering Documents A. Notices to Bidders;B. Drawings;C. Specifications (also referred to as technical requirements);D. Contract Con

27、ditions (General conditions, Special conditions);E. *-Bill of Quantities; *2). Contract Documents:A. Drawings;B. Specifications;C. Contract conditions;D. Bill of Quantities;E. Consultants instructions during the Project ImplementationIV ). Case-study: A Dialog on Facts about the PMP H: May I come in

28、?S: Come in, please.H: Excuse me, but are you Prof. Sun? I am Hu Xin. My father referred me to you for advice on what kind of graduate program to take.S: Right, right. Take a seat. Now tell me, what problems and ideas do you have in mind.H: Well, I believe my father gave a profile of me yesterday. I

29、 am 26, a loan officer of a CCB branch in this city. I find the competition is becoming increasingly fierce in financial industry. I plan to go for a master degree when I am still young. I am prone to work in current organization. There are MBA, MPACC and CFA, the point is that I am not sure which o

30、ne is most suitable to me. S: I see. Actually, Ive been thinking over the problem since your father calling me yesterday. In your case, you may take PMP (Project Management Professional) H: Why, Prof. Sun? I find nearly all of my colleagues are choosing among the above-mentioned three.S: Right, that

31、s the very reason why I insist you take PMP. To be frank with you, although PMP is an emerging degree, it can not be too suitable to you!H: What do you mean, Prof. Sun?S: Just think, ours is a developing country with robust momentum of economic growth. Real economy and capital projects have the lion

32、s share in national economy. In current global financial crisis, Chinas government has unprecedented scale in infrastructure investment. This definitely involves immense project loans and project management professionals from the financial institutions. H: This sounds right, but none of the banks cr

33、edit departments is understaffed.S: You are wrong. Just think, banks either incur excessive non-performing loans or are unready to make loans. All these boil down to the fact that banks are incompetent in project management.H: In fact, we have had a lot of training these years.S: What kind of traini

34、ngs are they?H: Such as project evaluations and invitation for bids.S: You should know that such trainings are fragmental and far from enough. Project has its full boy of knowledge. Specifically, it has nine areas of knowledge and five processes groups. The invitation for bids you mentioned pertains

35、 to “Procurement Management”，one of the nine areas of knowledge. It is well-known that risks and uncertainties are exchangeable. Only by mastering this nine areas of knowledge and five processes groups, can a bank be in the position to control project risks and wouldnt be unready to make loans.H: Pr

36、of. Sun. you really shed light on my understanding of my problems. But, what are nine areas of knowledge in project management, specifically?S: Scope, time, cost, quality, human resource, communication, risk, procurement and integration. H: What about those five processes group?S: They are initiatin

37、g processes, planning processes, executing processes, controlling processes and closing processes.H: I see. By the way, Prof. Sun, Ive heard a lot about the internationally accepted practices in project management. What are they exactly?S: They are “Rules of Game”by the “World Banks Guideline to Pro

38、curement ”and the Terms and conditions of the FIDIC. In reality, they are frame-work of rule of game for project clients to select parties concerned to a project, such as consultants, contractor and suppliers. H: Sorry, The term“FIDIC”is widely heard of, yet, I still dont know what it is. S: Its inc

39、redible for a person to study project management without knowledge of FIDIC. Its the transliteration of French “Federation Internationale Des Ingineures Councles”. Its a powerful organization. In international competition for projects, the “recognized qualifications”usually stands for FIDIC membersh

40、ip. Without such qualifications, no business is in the position to compete for design or supervision commission.H: China must have long been a FIDIC member I think.S: Not at all. Although China has been one of the five standing members of the UN Security Council since 1970s, yet, not until in 1997 w

41、as China taken in by the FIDIC, which accounts for poor performance of Chinas engineering consulting industry in world marketH: I see. It seems theres a lot to study in project management and prospect of PMP is really encouraging. I seem interested in it. I am very grateful to you, Prof. Sun. It pay

42、s for me to have come to you today. You are most welcome to come to my home. S: Welcome. Please remember me to your parents.H: Sure, By-bye !S: Bye!Assignments:1. Think over the questions: project management means different thing to different people, from the perspective of client, consultants and c

43、ontractor, what can be their project management objectives?2. Review the first case-study and be prepared to talk in the next lecture about the operation of different parties to a physical project:End of Lecture 11Lecture Twelve Business Law I.Values Today: MBusiness Topic : Business Law Business Sk

44、ills: News release.II. Stresses of Teaching: I ) Some frequently used legal terms and expressions; II ). Key points in writing of a News Release: III Language Points: *- logo; intangible assets; corporate image; plaintiff ; piracy; industrial property right; *-intellectual property right; claim; con

45、troversy ; settlement; compensation; damages; press/news conference; 2.( expressions for reference) : *- ambiguous term ;*- interpretation; testify ; legal language; contractual language; arbitration;*- ruing, ; 3. other expressions with “*-”, colored or boxed in the lecture; Be subject to ; resort

46、to ; appeal to the law; II ). Sentence Patterns: (ask students to make sentences after the patterns)1.*-They accuse the chemical plant of polluting the river;2. *- They charge the chemical plant with polluting the river. 3. They launched /bronght a claim against the client of the project for failure

47、 to make the interim payment under the contract.4. The judge found him guilty of palnned murder;5. They were found innocent of unauthorized use of their intellectual property right;6. He was sentenced to a 12-years imprisonment /death.7. We are awarded a damages of $300,000 for dissipation of our in

48、dustrial property right; 8. This law-suit originated from the different interpretations of an ambiguous term in the contract by both parties to the joint venture. IV. Activities I ). Check up previous assignment :1. Think over the questions: project management means different thing to different peop

49、le, from the perspective of client, consultants and contractor, what can be their project management objectives?2. Review the first case-study and be prepared to talk in the next lecture about the operation of different parties to a physical project:II ). Reading Text “Business law ” New expressions

50、 and sentence patterns in the text:III ) *-Caoching : 1. Key to writing a good piece of “News Release”: P. 122-123:2. Case-study News Release Dengfeng-Citroen Automobiles Co. (news releasing party)Hangyang, Wuhan, 410087Wenmin Xu, Publicity Director(86) 027- 76884392Qiang Liu （medium）The EditorGuide

51、 to CosumersHankow, Wuhan, 420087(86) 027- 68793025FOR RELEASE AFTER （at the time the news should be released） At 19:00, 2010-7-16 Citreon “LANDSCAPES” 1.4i （标题）CARRIED OFF 2001 CHINA ENVIRONMENTAL PROTECTION PRIZE Beijing, November 1, 2009. In the Peoples Great Hall in Beijing and based on the data

52、 of tests and on the opinions of the reviewing board made up of 23 nationally and internationally predominant experts, the “ 2009 China Prize for Auto Environmental Friendliness ” went to Citreon “Landscapes”, an economical car with displacement of 1.4 i made by (DCAC) Deng-feng /Citreon Automobile

53、Co. Located in Wuhan.The “Landscapes” makers are awarded the prize for their forward-looking sense of environment protection and competence to meet the worlds toughest environment-protecting standard. The “landscapes” is the first car in China to use natural gas which is not only plentiful in China

54、but also economical and pollution-free. According to the random sampling , the car can meet European Emission Standard IV (acceptable in the USA and Europe up to 2015).DCAC regards the honor as a push to their technologic innovation and announces to be fully open to suggestions for further improveme

55、nt of such technology and to employ it to a wider range of models of their cars.Assignments:1. Study the above news release and find differences between a news release and a report on a national or local news paper.2. Work out a newsrelease in the place of the management of your organization.3. Go over all expressions previously learnt for this wil play a leading role in your final. :End of Lecture 12