31. Trade CHECK YOUR ENGLISH VOCABULARY FOR BUSINESS AND ADMINISTRATION

CHECK YOUR ENGLISH VOCABULARY FOR BUSINESS AND ADMINISTRATION

31. Trade

Complete the sentences and definitions below with appropriate words, and use these words to complete the crossword grid on the next page. In each case, the first letter of each word you need is in the sentence / definition. The number and arrow after each gap show you where to put the word in the grid: →= across, ↓= down. √ When you bring goods into a country you i________ (5→) them. When you send them out of a country you e________ (15↓) them. √ A group of manufacturers or suppliers who visit another country to increase their sales there is known as a trade d________ (32→). √ C________ (20→) – also called f________ (26→) – is a general word for goods which are transported in a ship, plane etc. It is usually carried in a c________ (14→) (= a very large metal case of a standard size). √ A bill of l________ (3→) is a list of goods being transported, which the transporter gives to the person sending the goods, to show them that the goods have been loaded. The person receiving the goods should receive a p________ (16↓) list, showing them the goods that they should be receiving. √ A letter of c________ (21↓) – often abbreviated to L/C – is a document issued by a bank on behalf of a customer authorising payment to a supplier when conditions specified in the document are met. √ A p________-________ (24↓) invoice is an invoice sent to a buyer before the goods are sent, so that payment can be made (or so that goods can be sent to a consignee who is not the buyer). (note: write this as one word in your crossword grid: do not leave any spaces) √ COD is a payment which is made for goods when they arrive. COD stands for cash on d________ (23→). √ A group of goods sent for sale by road, sea or air is called a c________ (9↓). √ CIF refers to the price a buyer has to pay for goods which have to be transported. It stands for c________ (28↓), i________ (5↓) and freight. √ Goods sent by air are called a________ (31↓). Goods sent by sea are called s________ (33→). √ FOB stand for free on b________ (2↓). It refers to the price a buyer pays a seller for goods. The price includes all the seller's costs until the goods are on the ship, plane, etc, for transportation. √ Import d________ (11↓) – also sometimes called an import l________ (19→) – is a tax which has to be paid on goods coming into a country. A customs t________ (27↓) is a list of those taxes that must be paid. √ A person or company which arranges shipping and c________ (29 →) documents is called a f________ (13↓) agent. √ If tax on imported goods is not paid, those goods may be i________ (30→) (in other words, they are kept in a secure w________ (6→) at or near the p________ (18→) of entry until that tax is paid). √ A c________ (21→) agent arranges the import and delivery of goods at their port of d________ (10→). √ As soon as goods are allowed into a country by the customs officer, we can say that they have been c________ (1↓). √ A record of the international trading position of a country in m________ (34→) (= goods), excluding invisible trade, is called the b________ (22↓) of trade. √ A w________ (4→) price is a price paid by customers (for example, shops) who buy goods in large quantities. They sell these goods to individual customers (for example, shoppers) at a higher price which is called the r________ (7↓) price. Some offer d________ (17→) to their customers, which means they pay a little less. √ A l________ (25↓) agreement allows a company to market or produce goods or services owned by another company, and is a popular means for a company to penetrate the overseas market. √ A q________ (35→) is a limited amount of a good that can be brought into a country (usually as an incentive for people to buy home-produced versions of that good). This is an example of a trade b________ (12↓). √ When goods are sold within one country, they are transported to their place of sale by a d________ (8↓)

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