Page 60 - Business English Book 2

Lesson 7 Letter of Credit

Notes on irrevocable Letter of Credit

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A : Why is the irrevocable Letter of Credit most preferred?
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B : It is the safest one.
A : Why is it the safest one?
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B : It can’t be altered without all the parties’ consents. In addition
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to that, it can’t be cancelled.
Dialogue 2
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A : I can help you with your application. What is the amount you
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need?
B : I need it for USD 250,000.
Student Asking Questions
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B : How much do you require upfront?
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A : We require you to put down 80 percent of the face value as
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initial payment and service charge. .
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B : How much is your service charge?
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A : It is 1 percent of face value. Let’s fill out the application.
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A : Who is the beneficiary?
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B : What do you mean by the beneficiary? Do you mean the seller?
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A : That’s correct. What’s the name of the seller?
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B : It is Lucky Transmissions.
A : The name of payer?
B : That’s Samho Trading.
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