B) Answer the following questions

1. What is a contract intended for? 2. In which form can contract exist? 3. Is there a standard form for a contract? 4. What kinds of contracts according to the purpose do you know? 5. What are the main clauses of a contract? 6. Is it possible to change and supplement the clauses of the contract? 7. What does the subject clause of the contract describe? 8. What kinds of prices may be stated in a contract? 9. What does the Guarantee clause usually say? 10. Who is responsible for any breakage or damage of goods caused by improper packing? 11. Against what risks do businessmen insure goods? 12. Why does every contract contain a Force Majeure Clause? 13. When does a breach of contract take place?

C) Give equivalents for the following word combinations.

Особливі умови контракту, вигода, компенсація, квазі-контракт, трудовий договір, договір на обслуговування, договір на виконання робіт «під ключ», договір на покупку на виплат, обов’язкові пункти контракту, одиниця виміру, тверда ціна, змінна ціна, умови доставки, пуско-налагоджувальні роботи, у відповідності з документацією, за рахунок продавця, одержати компенсацію, урегулювання конфліктів, порушення угоди, постраждала сторона, вимагати компенсацію збитків у судовому порядку, непередбачувана обставина.

Exercise 2 a) Read and translate the contract.

CONTRACT № 123

Kharkiv, May 12, 2012 ABC RailTechnology hereinafter referred to as the ‘Sellers’, on the one part, and OrionRail hereinafter referred to as the ‘Buyers’ on the other part, have concluded the present Contract for the following:

Subject of the Contract

The Sellers have sold and the Buyers have bought on conditions f.o.b. the following equipment: 50 high and medium-speed 4-stroke diesel engines.

Prices and Total Value

2.1. The total value of the equipment, spare parts, tools, technical documentation and services under the present Contract amounts to € 193.7 million.

2.2. The prices are firm and subject to no alteration.

Terms of Payment

Payments are to be effected within 30 days of the date of receipt by the Buyers of the following documents for collection: Seller’s invoice and complete set of ‘clean-on-board’ Bills of Lading.

Delivery Dates

4.1. The equipment specified in Clause 1 of the Contract is to be delivered in parts with the consequent assembling on the manufacturing works of the Buyer within the period of two years beginning from the date of the Contract.

4.2. The delivery date is understood to be the date of the ‘clean-on-board’ Bill of Lading issued in the name of the Buyers.

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