國際商務(wù)函電習(xí)題答案

1、1吉辰服裝進(jìn)出口公司是一家快速發(fā)展的私營外貿(mào)公司，成立于1997年，主要經(jīng)營各類服裝，特別是出口的牛仔褲，因時(shí)尚的外觀設(shè)計(jì)和優(yōu)秀的品質(zhì)深受廣大海外客戶的歡迎，產(chǎn)品遠(yuǎn)銷到歐洲、中東和北美地區(qū)。2009年10月6日，公司因國外客戶需要，在國內(nèi)尋找合適的牛仔褲生產(chǎn)廠商。請你以出口部業(yè)務(wù)員李兵的身份，給在網(wǎng)上找到的鵬飛制衣廠的王勇廠長寫一封就男式靴式牛仔褲詢盤的信函。尊敬的王勇先生:滋代表吉辰服裝進(jìn)出口公司寫信給貴方.我方對你們的男式靴式牛仔褲很感興趣.能否請寄現(xiàn)行產(chǎn)品目錄以及價(jià)格單,并報(bào)最低價(jià)格?如果產(chǎn)品質(zhì)量和價(jià)格均合適,我們將大量訂購. 盼復(fù)!順祝商祺! 李兵 2009年10月6日2加拿大Cart

2、ers Trading Company, LLC的業(yè)務(wù)員Joe Brown先生在2009年廣交會上看到了南京德創(chuàng)偉業(yè)進(jìn)出口有限公司(Nanjing Dechuangweiye Import & Export Co., Ltd)的產(chǎn)品，對他們的Hand-made Gloves非常感興趣，也與該公司的業(yè)務(wù)員Cathy Lee取得聯(lián)系，并索取了相關(guān)資料。回國后經(jīng)過市場調(diào)查，Joe Brown先生于2009年10月11日向南京德創(chuàng)偉業(yè)進(jìn)出口有限公司的業(yè)務(wù)員Cathy Lee發(fā)去詢盤并索要樣品，請你幫Joe Brown先生撰寫這封函電，對方的郵件地址為。Oct. 11th, 20

3、09To: Cathy LeeNanJing Dechuangweiye import &export Co., LtdSubject: Sample of Hand-made GlovesDear Cathy Lee: This is Joe Brown from Carters Trading Company, Canada. We know your firm from Guangzhou Commodity Fair, and we are interested in your Hand-made Gloves very well, I contacted with Cathy Lee

4、 from your company before, and got catalogue and other information. Could you please send us a sample? We need to conduct a market research so that we can decide the qualities that we need. We look to hearing from your soon, thanks.Joe BrownCarters Trading Company3假設(shè)你是恒弛實(shí)業(yè)有限公司的業(yè)務(wù)員Leon，一客戶給你公司發(fā)來郵件，表示

5、對你們公司的產(chǎn)品質(zhì)量很滿意，認(rèn)為你方報(bào)價(jià)偏高，要求你們減價(jià)。你方收到信后，經(jīng)過研究，認(rèn)為你方的報(bào)價(jià)與現(xiàn)行價(jià)格相符，因此拒絕對方的還盤。請你給該客戶回一封函電表明你方觀點(diǎn)，寫信時(shí)間為2009年10月14日。L. P. G. International Corporation333 Barron Blvd. , Ingleside , Illinois ( United States ) , 60041Tel: 1 847 543-4658 Fax: 1 847 543-7152E-mail: Oct 13, 2009Dear Leon,We are glad to recei

6、ve your letter of Oct 12 but sorry to find that your prices are rather on the high side.We appreciate your prompt response to our enquiry and would like to take this opportunity to conclude some transactions with you. We would, therefore, suggest that you make some allowance, say 5% on your quoted p

7、rices so as to enable us to introduce your products to our customers.Since we have a thorough knowledge of the market and an extensive sales organization in USA, we feel confident to promote the sales of your products. Therefore, we hope you will consider our counter-offer favorably and let us have

8、your acceptance by telex.Yours faithfully,L. P. G. International CorporationCherryHengchi Industries Co. ,ltd.Room601, Tianshi Mansion, Siyuanqiao 47#, Shanghai, P. R. ChinaTel: (021) Fax: (021)E-mail: 333 Barron Blvd. , Ingleside , Illinois ( United States ) , 60041Tel: 1 847 543-4658 Fax:

9、 1 847 543-7152E-mail: Oct 14, 2009Dear Cherry, We confirm having received your letter of Oct 13, asking us to make a 5% reduction in our price. Much to our regret, we are unable to comply with your request because we have given you the lowest possible price. We can assure you that the pri

10、ce quoted reflects the high quality of the products.We still hope to have the opportunity to work with you and any further enquiry will receive our prompt attention. Yours faithfully,Hengchi Industries Co. ,ltd.Yang Yang4假設(shè)你是加拿大Carters Trading Company, LLC的業(yè)務(wù)員Joe Brown，南京德創(chuàng)偉業(yè)進(jìn)出口有限公司(Nanjing Dechuang

11、weiye Import & Export Co., Ltd)給你公司發(fā)來郵件，向你發(fā)盤，你認(rèn)為價(jià)格過高，向?qū)Ψ竭€盤，要求降價(jià)10%。寫信時(shí)間為2009年10月13日。Nanjing Dechuangweiye Import & Export Co., Ltd.Hongwu Road 16#, Nanjing P. R. ChinaTEL: (025) FAX: (025)ZIP CODE: Oct 13, 2009Carters Trading Company, LLCP.O.BOX8935, NEW TERMINAL, LATA.VISTA, OTTAWA, CANADATEL NO.:

12、03FAX NO.: 07E-MAIL: CARTER MSN.COMDear Mr. Joe Brown,We have received your enquiry of Oct 11 and thank you for your interest in our products. A copy of our illustrated catalogue is being sent to you today, with samples you requested.We would like to quote as follows: Commodity: Hand-made Gloves Qua

13、ntity: 5000 sets Price: USD2.38 CIF Toronto per set Shipment: Within 2 months from receipt of the relevant L/C Payment: By irrevocable Letter of Credit at sight Packing: 1200 sets to a carton Validity: 10 daysWe are looking forward to your initial order.Yours faithfully,Nanjing Dechuangweiye Import

14、& Export Co., Ltd.Cathy LeeCarters Trading Company, LLCP.O.BOX8935, NEW TERMINAL, LATA.VISTA, OTTAWA, CANADATEL: 03 FAX: 07E-MAIL: CARTER MSN.COMHongwu Road 16#, Nanjing P. R. ChinaTEL: (025) FAX: (025)Oct 13, 2009Dear Ms. Cathy Lee, We acknowledge receipt of both your offer of Oct 13 and the sample

15、s of Hand-made Gloves, and thank you for these. While appreciating the good quality of your gloves, we find your price is rather too high for the market we wish to supply. We have to point out that the Hand-made Gloves are available in our market from several Chinese manufacturers; all of them are a

16、t prices from 10% to 15% below the price you quoted. Such being the case, we have to ask you to consider if you can make reduction in your price, say 10%. If you cannot do so, then we shall have no alternative but to leave the business as it isLooking forward to hearing from you soon. Yours sincerel

17、y, Carters Trading Company, LLC Yang Yang5假設(shè)你是吉辰服裝進(jìn)出口公司的業(yè)務(wù)員，你與一進(jìn)口客戶經(jīng)過交易磋商達(dá)成一致后，收到了客戶訂單，請你給對方回一封接受函電，寫信時(shí)間為2009年10月22日。信中要點(diǎn)為：1.感謝你方2009年10月21日來函及寄來的訂單(編號MS5656)；2.附上編號為JC2369的銷售確認(rèn)書的一式兩份，請簽名確認(rèn)并寄回其中一份以便我們存檔；3.請盡快開證以免延誤裝運(yùn)，我們將隨時(shí)與你們保持聯(lián)系。JICHEN CLOTHES IMP. & EXP. CO., LTD.Room2401,Wordtrade Mansion, Sanhua

18、n Road 60#，Beijing, P. R. ChinaTel: 86-10- Fax: 86-10-E-mail: Oct 20, 2009Dear Ms. Cathy LeeThank you for the order form you sent over in October 22, 2009, coded MS5656. We are now enclosing here with our Sales Contract No JC2369 in duplicate. Please countersign and return us one copy for r

19、ecords. We appreciate your cooperation and trust that our products will turn out to your satisfaction.However, emphasis has to be laid on the point that your L/C must reach here by the end of this month. Otherwise, shipment has to be delayed. We will keep contact with you at any time.Looking forward

20、 to hearing from you soon. Yours sincerely, Yang Yang JICHEN CLOTHES IMP. & EXP. CO., LTD.6假設(shè)你是加拿大Carters Trading Company, LLC的業(yè)務(wù)員Joe Brown，你與南京德創(chuàng)偉業(yè)進(jìn)出口有限公司(Nanjing Dechuangweiye Import & Export Co., Ltd) 的業(yè)務(wù)員Cathy Lee經(jīng)過交易磋商，最后就各項(xiàng)交易條件達(dá)成一致，請你給對方寫一封接受函電，寫信時(shí)間為2009年10月20日。信中要點(diǎn)為：1.感謝你方2009年10月18日報(bào)價(jià)和寄來的樣品；

21、2.認(rèn)為對方產(chǎn)品的品質(zhì)優(yōu)良，價(jià)格合理；3.隨信附寄編號為CTC5236的購買合同一式兩份，會簽后請歸還一份以便存檔；4.請?jiān)谘b船后兩天內(nèi)給我們發(fā)裝船通知，告知包裝件數(shù)、毛凈重、船名、貨值、提單號碼和日期；5.由于客戶急需，請盡快裝運(yùn)，如果這次合作愉快，今后將大量訂購。Carters Trading Company, LLCP.O.BOX8935, NEW TERMINAL, LATA.VISTA, OTTAWA, CANADATEL: 03 FAX: 07E-MAIL: CARTER MSN.COMHongwu Road 16#, Nanjing P. R. ChinaTEL: (025) F

22、AX: (025)Oct 20, 2009Dear Ms. Cathy LeeThank you for the samples and prices you sent over in October 18, 2009. We think the prices are reasonable and the qualities of the samples are fine. With this letter you will find two purchasing contracts coded CTC5236. Please return one signed and keep one as

23、 documentary. Within two days after shipping, please send a shipping notice to us with the package numbers, gross weight, the ships name, the load value, the bill of lading numbers, and the date. Because our customers are badly in need of those commodities, please ship them as soon as possible. If t

24、his time we are both glad with this contract, we would order a larger number of packages in future.Looking forward to hearing from you soon. Yours sincerely, Carters Trading Company, LLC Yang Yang7根據(jù)買方訂單及相關(guān)資料，制作形式發(fā)票，要求格式清楚、內(nèi)容完整。Dear Helen,Documents of 200 rolls recd today,thanks,Pls note our new ord

25、er: PVC Strips1.200mm2mm50mm transparent normal-120 rolls2. 200mm2mm50mm transparent normal ribbed-10 rolls3. 200mm3mm50mm transparent normal-20 rolls4. 300mm3mm50mm transparent normal-30 rolls5. 300mm3mm50mm transparent normal ribbed -20 rollsPls send proforma invoice so that we can send moneyBest

26、RegardsNishith資料：1. The seller: SHANGHAI LUCKY SAFETY SCREENS CO.,LTD. UNIT C 2/F JINGMAO TOWER SHANGHAI,CHINA2. The buyer: RAM PLASTICS 201,HAUZ RANI,MALVIYA NAGAR,NEW DELHI . INDIA3. Porforma invoice No.LU805184. Proforma invoice date: May 18,20085. S/C No.LU08056. Port of loading and destination:

27、 Form Shanghai China to Nhava Sheva India7. Terms of payment: Advanced T/T8. Shipping Mark:按標(biāo)準(zhǔn)的嘜頭樣式9. Unit price:USD 86.00/roll CIF Nhava Sheva for 200mm2mm50mm transparent normalUSD 98.00/roll CIF Nhava Sheva for 200mm2mm50mm transparent normal ribbedUSD 92.00/roll CIF Nhava Sheva for 200mm3mm50mm

28、transparent normalUSD 108.00/roll CIF Nhava Sheva for 300mm3mm50mm transparent normalUSD 116.00/roll CIF Nhava Sheva for 300mm3mm50mm transparent normal ribbed10. DETAILS OF THE SELLERS BANK:BANK OF CHINA,SHANGHAI BRANCH,No.4 Zhongshan road,Shanghai,P.R. CHINASWIFT CODE:BKCHCNBJ530BENEFICIARY: SHANG

29、HAI LUCKY SAFETY SCREENS CO.,LTD.ACCOINT No.:1281 7091 015ADDRESS: UNIT C 2/F JINGMAO TOWER SHANGHAI,CHINAISSUER形式發(fā)票PROFORMA INVOICESHANGHAI LUCKY SAFETY SCREENS CO., LTD.UNIT C 2/F JINGMAO TOWER SHANGHAI,CHINATORAM PLASTICS 201, HAUZ RANI, MALVIYA NAGAR, NEW DELHI . INDIANO.DATENo.LU80518May 18,200

30、8TRANSPORT DETAILSS/C NO.L/C NO.Form Shanghai China to Nhava Sheva IndiaNo.LU0805TERMS OF PAYMENTAdvanced T/TMarks and NumbersDescription of goodsQuantityUnit PriceAmount1200mm2mm50mm transparent norma120 rollsUSD 86.00/roll CIF Nhava ShevaUSD105602200mm2mm50mm transparent normal ribbed10 rollsUSD 9

31、8.00/roll CIF Nhava ShevaUSD 9803200mm3mm50mm transparent normal20 rollsUSD92.00/roll CIF Nhava ShevaUSD 18404300mm3mm50mm transparent normal30 rollsUSD108.00/roll CIF Nhava ShevaUSD 32405300mm3mm50mm transparent normal ribbed 20 rollsUSD116.00/roll CIF Nhava Sheva USD3320Total:USD19940SAY TOTAL:NIN

32、TEEN THOUSAND NINE HUNDRAND AND FOURTY ONLYPORT TO LOADING:Shanghai ChinaPORT OF DESTINATION:Nhava Sheva IndiaSWIFT CODEBKCHCNBJ530INSURANCE:The SELLER shall arrange marine insurance covering All Risks bearing Institute Cargo Clause(ALL Risks)Plus institute War Clause (Cargo) and STRIKE for 110% CIF

33、 value and provide claim.Shipping Mark:N/MBENEFICIARYSHANGHAI LUCKY SAFETY SCREENS CO.,LTD.ADVISING BANK:BANK OF CHINA,SHANGHAI BRANCHNEGOTIATING BANK:BANK OF CHINA,SHANGHAI BRANCHDETAILS OF THE SELLERS BANK: BANK OF CHINA,SHANGHAI BRANCH,No.4 Zhongshan road,Shanghai,P.R. CHINABENEFICIARY: SHANGHAI

34、LUCKY SAFETY SCREENS CO.,LTD.ACCOINT No.:1281 7091 015ADDRESS: UNIT C 2/F JINGMAO TOWER SHANGHAI,CHINASHANGHAI LUCKY SAFETY SCREENS CO.,LTD.楊陽8假設(shè)你是鵬飛制衣廠的廠長王勇，你收到了吉辰服裝進(jìn)出口公司發(fā)來的函電，詢問男式靴式牛仔褲的價(jià)格，請根據(jù)該函電內(nèi)容給對方發(fā)盤。寫信時(shí)間為2009年10月8日。信中主要要點(diǎn)如下：1.來信中要求樣品已寄出；2.商品和數(shù)量：5000條男式靴式牛仔褲(MENS BOOT FLARE JEAN)；3.規(guī)格描述：每箱20件，顏色

35、：古靛青色，面料成份：全棉4.價(jià)格：每條人民幣75元；5.交貨地點(diǎn)：工廠交貨6.支付：先付30%，其余尾款貨到后付清To: 鵬飛制衣廠 DATE: 2009/10/6ATTN: 王勇廠長 FROM: 李兵您好！我們是一家成立于1997年的外貿(mào)公司吉辰服裝進(jìn)出口公司，主要經(jīng)營各類服裝，產(chǎn)品遠(yuǎn)銷到歐洲、中東和北美地區(qū)。我們在網(wǎng)上找到了貴廠的資料，得知貴廠專門生產(chǎn)牛仔褲。我們對貴廠的男式靴式牛仔褲很感興趣，貴廠能否提供產(chǎn)品的詳細(xì)資料給我們，包括顏色和價(jià)格，并給我們提供不同顏色的男式靴式牛仔褲樣品，以便我們能對你方商品的質(zhì)量和價(jià)格有所了解。如果你們的價(jià)格和質(zhì)量有吸引力，我們將下大量訂單。我們期盼盡早得

36、到你們的答復(fù)。謝謝！鵬飛制衣廠PENGFEI CO., LTD.南京市雨花路200號Yuhua road 200#, nanjing , P. R. China電話(TEL): 86-25- 傳真(FAX): 86-25-TO 吉辰服裝進(jìn)出口公司 DATE: 2009/10/8ATTN:李兵 FROM:王勇李兵先生：您好！來函已經(jīng)收到。非常感謝您對我公司的信賴，您所需要的樣品已經(jīng)寄出，請注意查收。現(xiàn)產(chǎn)品報(bào)價(jià)如下：商品和數(shù)量：5000條男式靴式牛仔褲(MENS BOOT FLARE JEAN)；規(guī)格描述：每箱20件，顏色：古靛青色，面料成份：全棉價(jià)格：每條人民幣75元；交貨地點(diǎn)：工廠交貨支付：先

37、付30%，其余尾款貨到后付清以上資料供您參考并確認(rèn)，盼復(fù)！ 謝謝！ 9假設(shè)你是南京德創(chuàng)偉業(yè)進(jìn)出口有限公司(Nanjing Dechuangweiye Import & Export Co., Ltd)的業(yè)務(wù)員Cathy Lee，加拿大Carters Trading Company, LLC的Joe Brown先生給你公司發(fā)來郵件，向你詢盤。請根據(jù)該郵件向你的客戶發(fā)盤，寫信時(shí)間為2009年10月13日。信中主要要點(diǎn)如下：1.來信中要求的目錄和樣品已寄出；2.商品和數(shù)量：5000副手套(Hand-made Gloves)；3.價(jià)格：每套USD2.38 CIF多倫多；4.裝運(yùn)：證到后兩個(gè)月內(nèi)裝運(yùn)；5

38、.支付：不可撤銷即期信用證；6.包裝：1200副一紙箱；7.該發(fā)盤有效期為10天。Carters Trading Company, LLCP.O.BOX8935, NEW TERMINAL, LATA.VISTA, OTTAWA, CANADATEL: 03 FAX: 07E-MAIL: CARTER MSN.COMTo: Date: Oct 11, 2009 Subject: HelloDear Ms. Cathy Lee,We are glad to inform you that we are interested in your hand-made gloves

39、. There is a steady demand here for gloves of high quality and, although sales are not particularly high, good prices can be obtained.Will you please send us a copy of your catalogue for gloves, with details of your prices and terms of payment? We should find it most helpful if you could also supply

40、 samples of which the gloves are made.We are looking forward to your early reply.Yours sincerely,Carters Trading Company, LLCJoe BrownNanjing Dechuangweiye Import & Export Co., Ltd.Hongwu Road 16#, Nanjing P. R. ChinaTEL: (025) FAX: (025)ZIP CODE: Oct 13,2009Carter Trading Company, LLCP.O.BOX8935, M

41、EW TERMINAL, LATA.VISTA,OTTA,CANADATEL NO:03 FAX NO:07E-MAIL: CARTERMSN.COMDear Mr. Joe Brown, We have received your enquiry of Oct 11.The samples you requested and products catalogues have being sent to you today. We would like to quote as follows: Commodity: Hand-made Gloves Quantity: 5000 sets Sh

42、ipment :Within 2 months from receipt of the relevant L/C Payment: By irrevocable letter of credit at sight Packing: 1200 sets to a carton Validity: 10 daysWe look forward to hearing from you soon. Yours faithfully, Cathy Lee10 題目要求和說明題目名稱按客戶來函制出口合同和形式發(fā)票基本要求根據(jù)下述資料和客戶在交易磋商中的最后來函要求制作出口合同和形式發(fā)票，要求格式清楚、條款

43、明確、內(nèi)容完整。下載模板1.合同012.形式發(fā)票01相關(guān)說明1. 國外客戶資料：NEO GENERAL TRADING CO.P.O. BOX 99552, RIYADH 22766, KSATEL: 00966-1- FAX: 00966-1-2. 我方出口公司資料：世格國際貿(mào)易有限公司DESUN TRADING CO., LTD.Room 2901,HuaRong Mansion, Guanjiaqiao 85#, Nanjing , P.R.CHINATEL:025- 025- FAX:3. 我方通知行資料：BANK OF CHINA JIANGSU BRANCHHEAD OFFICE

44、148 ZHONGSHAN SOUTH ROAD NANJINGTELEX: 34116/34127 BOCJS CN4. 合同簽訂時(shí)間及地點(diǎn)：Feb. 28, 2009 NANJING, CHINA5. 我方對押匯銀行的要求：要求可在中國任何銀行押匯。6. 編號要求：合同號：從NEO起編發(fā)票號：從2009STD001起編7. 裝運(yùn)港：中國上海。8. 對付款方式的要求：買方應(yīng)通過一家賣方可以接受的銀行于裝運(yùn)月份前30天開立并送達(dá)賣方不可撤銷即期信用證，有效至裝運(yùn)日后15天內(nèi)在中國議付。NEO GENERAL TRADING CO.P.O. BOX 99552, RIYADH 22766, KS

45、A TEL: 00966-1- FAX: 00966-1-E-MAIL: Feb. 27, 2009Dear Mr. Chang,We have received your E-Mail of Feb.26, 2009.After the consideration, we have pleasure in confirming the following offer and accepting below:1. Commodity: canned mushrooms pieces & stems2. Specifications: 24 tins per c

46、arton, 425grams net weight each tin, 227grams drain weight each tin3. Package: exported brown carton, with ROSE brand.4. Quantity: 1700cartons, one 20FT CONTAINER 5. Quality: 2009 new Crop product 6. Price: USD7.80/CARTON CFR DAMMAM PORT ON FULL LINER TERMS7. Payment: L/C AT SIGHT8. Shipment: Not la

47、ter than Apr.30, 20099. Shipping Marks:ROSE BRAND178/2009RIYADHPlease send us your SALES CONTRACT and PROFORMA INVOICE, and we hope both of us may have a wonderful beginning.Best Regards,NEO GENERAL TRADING CO.,Tom SmithSALES CONTRACTNo.NEO DATE: Feb. 28, 2009 SIGNED AT: NANJING,THE SELLER (hereinaf

48、ter called “Party A ): DESUN TRADING CO., LTD. Room 2901, HuaRong Mansion, Guanjiaqiao 85#, Nanjing , P.R.CHINATHE BUYER (hereinafter called “Party B ) : NEO GENERAL TRADING CO. P.O. BOX 99552, RIYADH 22766, KSANOW THEREFORE, The Seller and the Buyer agree to conclude this Contract subject to the te

49、rms and conditions stated below:Commodity SpecificationQuantityUnit priceAmountCanned mushrooms pieces & stems24 tins per carton, 425grams net weight each tin, 227grams drain weight each tin 1700cartonsUSD7.80/CARTON CFRUSD13260.00Total 1700cartonsUSD13260.00Total Amount: SAY U.S. DOLLARS THIRTEEN T

50、HOUSAND AND TWO HUANGDRED AND SIXTY ONLYMore or less 7% of the quantity and the amount are allowed.1. PACKING: Exported brown carton, with ROSE brand.2. Shipping Marks: ROSE BRAND178/2009RIYADH3PORT OF LOADING AND DESTINATION:From Shanghai Jungong Road 1979, China to DAMMAM port.Partial shipment and

51、 transshipment are both allowed.4TIME OF SHIPMENT:Within 60 days upon receipt of the L/C which accord with the relevant clauses of this Contract and not later than Apr.30, 20095. Terms of Delivery USD7.80/CARTON CFR DAMMAM PORT ON FULL LINER TERMS The terms CFR， shall be subject to the International

52、 Rules for the Interpretation of Trade Terms (INCOTERMS 2010) provided by International Chamber of Commerce (ICC) unless otherwise stipulated herein.)6. INSURANCE: To be covered by the Buyers from shipment, for this purpose the Sellers shall advise the Buyers by cable of the particulars .7. TERMS OF

53、 PAYMENT:By Confirmed， Irrevocable，Transferable and Divisible L/C to be available by sight draft to reach the Seller 30 days before May, 2009 and remaining valid for negotiation in China for further 15 days after the shipment.The credit (L/C) should be payable at sight issued by an international FIR

54、ST CLASS BANK.The statement “this credit is subject to Uniform Customs and Practice for Documentary Credits, 1993 Revision, International Chamber of Commerce Publication No. 500” shall be contained in the letter of credit. The Buyer shall establish a Letter of Credit before the above-stipulated time， failing which， the Seller shall have the right