I. As buyers, you are to charter a ship bood the shipping space.

--That’s understood.

As sellers, you are to propare the goods and make out necessary documents.

--That’s understood.

As our agent, you are to receive 3% commissions of the invoice value on every sale you have made.

--That’s understood.

As an old friend of ours, you ought to know our usual practice in giving commission.

Certainly. Butthis is an exceptional case, isn’t it?

II. What do you mean by all the charges?

  --They are Customers duties, as well as any charges on exporting goods.

What do you mean by keeping silent?

--Well, to tell the truth, we are waiting for further about the market.

What do you mean by that?

--Sorry, it’s quite unintentional.

III. As I understand it, you are also to inform us the contract number, name of commodity, quantity and so on.

  --Yes, we’ll cable you 30 days before the month of shipment.

As I understand it, your prices are on FOB basis, aren’t they?

--Yes, they are.

  As I understrand it, I am to charter the ship or book the shipping space. Is that so?

  --Yes, you’re right.

  As I understand it, the buyer is to open an irrevocable L/C one month before the time of shipment.

--That’s it.

IV. So far we have a mutual understandingon everything concerning our respective responsibilities.

  So far this year we have concluded more than transactions.

  They have so far failed to reach an agreement.

  Our cooperation has been easy so far.

V. I hope we’ll both discharge them as well.

  I understand from them theat you handle import of chemicals as well.

  I hope these transaction may be carried out as well.

  Do you think we ought to have the rooms booked as well?