Translation of Payment Terms in International Business Contracts

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MINISTRY OF EDUCATION AND TRAINING
…………..o0o…………..
TRANSLATION OF PAYMENT TERMS
IN THE INTERNATIONAL BUSINESS CONTRACT IN ADDICON
LOGISTICS
Year

TABLE OF CONTENTS
TABLE OF CONTENTS .....................................................................................................2
A. THE BEGINNING ........................................................................................................4
I – Reason for Choosing This Topic ................................................................................4
II – Limitation of The Topic ............................................................................................6
III – Range of the Research..............................................................................................7
B – THE CONTENT............................................................................................................8
CHAPTER 1.........................................................................................................................8
INTRODUCTION OF ADDICON LOGISTICS (ALM) ....................................................8
1.1 Overveiw of Addicon Logistics..............................................................................8
1.1.1 History of Addicon Logistics..............................................................................8
1.1.2 Organizational structure of Addicon Logistics.............................................9
1.2 Addicon Logistics Development of Services and Policy.........................................12
1.2.1 Addicon Logistics Services .............................................................................12
1.2.2 Addicon Logistics Policy.................................................................................13
CHAPTER 2.......................................................................................................................15
THEORETICAL BASIS ....................................................................................................15
2.1 Translation in Business Company...........................................................................15
2.1.1 Definition of Translation .................................................................................15
2.1.2 Translation Procedures, Strategies AND Methods...........................................15
2.2 International Sales Contract .....................................................................................17
2.2.1 Definition of International Sales Contract........................................................17
2.2.2 Main Terms and Condition of International Sales Contract.............................18
2.4 Payment Terms.........................................................................................................20
2.4.1 Definition of Payment Terms ...........................................................................20
2.4.2 Kinds of Payment Terms in Export and Import................................................20
2.5 Importing and Exporting in a Global Market...........................................................21
2.5.1 Definition of Importing and Exporting.............................................................21
2.5.2 Process of Importing and Exporting .................................................................22

2.5.3 Importance of Importing and Exporting ...........................................................24
CHAPTER 3.......................................................................................................................25
TRANSLATION OF PAYMENT TERMS IN THE INTERNATIONAL BUSINESS
CONTRACT IN ADDICON LOGISTICS ........................................................................25
3.1 Translation Process of Telegraphic Transfers..........................................................25
3.2 Translation Process of Letter of Credit.( L/C) .........................................................26
3.3 Translation Process of Documentary Collection .....................................................28
CHAPTER 4.......................................................................................................................30
CURRENT SITUATION OF TRANSLATION AND SOLUTIONS...............................30
4.1 Current issues of translation in Addicon Logistics ..................................................30
4.1.1. Advantages in Addicon Logistics....................................................................30
4.1.2 Disadvantages in Addicon Logistics.................................................................31
4.2. Solutions for Addicon Logistics..............................................................................31
CHAPTER 5.......................................................................................................................34
CONCLUSION ..................................................................Error! Bookmark not defined.
REFERENCE .....................................................................Error! Bookmark not defined.

A. THE BEGINNING
I – Reason for Choosing This Topic
International business is activity of all companies in over the world that has
increased outstandingly during the last part of the twentieth century, thanks to the
liberalization of trade and investment and the development of technology. Global
competition has effects nearly on every company. Many source suppliers from foreign
countries and still more take part in competing products or services that originate abroad.
International business stays a all-embracing concept that includes the smallest companies
only exporting or importing with one other nations, as well as the largest global
corporation with integrated operations and strategic unions around the globe.
Besides, the cultural environment of a foreign countries remains an important
element of the international business environment, yet it is one of the most difficult to
understand. The cultural environment of a foreign country includes frequently shared
beliefs and values which established by components such as religion, history, language,
geographic location, government, and education. Especially, Fluent speaking skills and
writing skills occupy an important role in fastening good employment opportunities with
profitable pay combination. Most national and international companies use English as a
mean of communication for all official and legal matters. Competent knowledge of the
language accommodates in the mellifluous conduct of operations, such as regular
exchange of emails, presentations, and sales and marketing.
Moreover, Translation and interpreting are crucial job which occupy an important
role in global business. It smartens communication by imparting information reliably
from one language to another in different nations across the world. The translation and
interpreting provide different services. Interpreters deal with verbal communication while
translators deal with written communication. Role of interpreting and translation in global
business provide all companies with services in a number of business areas, and they

specialise in specific fields. That is the crucial reason that “Translation Of Payment Terms
In The International Business Contract In Addicon Logistics” is chosen to study.

II – Limitation of The Topic
At first, the student is just fresh graduate in which there is a limitation in
interpretation abilities. Thus interpreters make more errors such as omissions of pertinent
information, additions of information not to be said, substitutions of information during
practice time.
At second, the limitation of data and material. There are few marterial of
translation and interpreting in Addicon Logistics. The company had no interpreter or
translator last time, that is the reason why they have no englis material of this job. In
addition, Addicon Logistics des not pay attention to this activity, even though they
usually take care of foreign customers and translate import and export documents in some
departments. Moreover, they have no skillful and experienced staff for this job.
At third, there are few papers, studies realting to study transaltion and interpreting.
Thus there is limitation in primary data, as well as secondary data for this study. As the
result, this study is carried out based on the fresh graduate’s limited knowledge, lack of
skills. Moreover, difference in cultures is also the negative factor affecting to this report.

III – Range of the Research
Bui Trong Tan has studied Translation Of Payment Terms In The International
Business Contract in 2009 in Hai Phong private University, in which there are some
advantages that this report has discovered roles of international business, as well as roles
of translation of payments in business. He also listed useful payment terms in his study.
However, there are some disadvantages that Mr Tan have no research of translation
limitation, as well as interpreting mentioned.
Jin Xiang carried out A Study on Business Contract Translation from the
Perspective of Three-Dimensional Transformation of Eco-Translatology in 2017 in
Harbin University of Commerce, Harbin, Heilongjiang, China. Jin Xiang has showed
roles of translation in business, especially in sales contract. Moreover, he also studied
terms of sales contract specifically. The study also shows readers clearly about culture
aspect, communication aspect that affect to translation job. Moreover, he also pointed out
solutions for these problems. However, his study does not mention about interpreting job.

B – THE CONTENT
CHAPTER 1
INTRODUCTION OF ADDICON LOGISTICS (ALM)
1.1Overveiw of Addicon Logistics
1.1.1 History of Addicon Logistics
Addicon Logistics is a regional logistics service provider. This is multi-national
company with offices in China, Singapore,Thailand, Bangladesh, Vietnam and Cambodia.
In china, Addicon Logistics has two offices in Shenzhen and Shanghai
In Singgapore, it set up corperate office.
In Thailand and Bangladesh, ALM has representative office.
In Vietnam, ALM has opened three offices in Ha Noi, Hai phong and Ho Chi Minh
city.
Picture 1. 1: ALM Worldwide Network

(Source: http://addicon.com.sg)
These international network of offices and strategic partnership help ALM plan an
efficient port-to-port cargo transportation routes for its clients. They also execute
clearance from administrative processes to banking agreement.
1.1.2 Organizational structure of Addicon Logistics
ALM is multinational company, however the organizational structure is not very
complicated (Picture 1.2)
Picture 1. 2: Organizational structure of Addicon Logistics

(Source: addicon.com.sg)
The top power in ALM belong to executive board including CEO, Vice Presidents.
They are key persons to manage three main department consisting of Sales department,
HR department and IT department.
There are three sales departments in which every head of these manages sub-
department such as Marketing, customer service, accouting,...Sales departments play the
most crucial role within ALM business that is charged with ensuring the efficiency and
effectiveness of ALM’s sales. The basic objective is evidently the achievement of profit
through service. In short, The main function of a sales department is to effect sales at the
lowest possible cost.
HR department is the only one in which there are HR manager, Vice manager and
HR staff. They are very skillfull and experienced in:
 Ensuring the business operates in compliance with all labor laws.

 Recruiting and training new employees are primary responsibilities of the
human resources team.
 Keeping records regarding income, expenses, purchases and a summary of
business transactions.
 Taking care of the dispensation of payroll; Health care benefits.
 setting up performance improvement plans commonly called PIPs to help
struggling employees improve their work to raise it to a certain expectation
level of the company.
The last one is IT departement which considered as very important department in
ALM. All senior members of the IT team works with business executives to develop an
IT strategy that supports ALM’s business objectives and help build a strong competitive
advantage. IT staff customize software and other components of the IT system to meet the
needs of business departments. IT team always makes certain for the right level of IT
resources available to meet fluctuating amount of demand.
The IT department is also in charge of developing and operating a network to
maintain effective communication and collaboration. Progressively, IT team is
establishing the latest Internet Protocol networks with the capability to charge all voice,
data, video and Internet traffic on a single network.
Moreover, IT staff play an important role in developing tools to collect, store,
manage, secure and distribute data to people who need access to the latest information to
make decisions about strategic, financial and operational issues. IT department is also
incharge of protecting the IT infrastructure and corporating data against attacks from
viruses, cybercriminals and other threats.

1.2 Addicon Logistics Development of Services and Policy
1.2.1 Addicon Logistics Services
Because of understanding clients’s business environment and logistic need, ALM
is competent in supply chain planning and design, as well as providing value added
service to clients. Its slogan is “ our commitement to our clients” that enable ALM to
promptly start up operation based on clients’ requirement, moreover creating vigorously
commited management team with superior motivated employees.
Addicon Logistics Management is a highly committed and motivated logistics
company providing integrated logistics solutions. with an emphasis on exceptional service
and quality. Addicon Logistics Management provides Business to Business Integrated
Logistics Solutions. The core businesses of the company are warehousing, international
freight forwarding, distribution logistics and consolidation service.
For buyer consolidation service, Addicon supply storage pace for clients’ goods
and ship it to the retailers.
For local distribution service, ALM has a fleet of vehicles to take care of the local
distribution in a timely maner.
For warehousing and distribution, ALM offers consolidation service by grouping
its commodities at the warehouse, therefore saving time and costs for clients.
For sea and air freight forwarding, Addicon supply shipping and moving of cargo
by air and sea route to make sure that the delivery is on time.
For custom declaration and clearance, ALM takes care of customer clearance for
both importing and exporting from clients.
For container loading and unloading, addicon provide the clients with fast, reliable
and time bound stuffing and unstuffing of goods from clients’ containers.

ALM continuously handles all logistics that clients need. Addicon offers sea and
air routes for international transportation of cargo. Addicon Logistics also offers service
agency representation.
1.2.2 Addicon Logistics Policy
ALM’s commitment is to protect its properties, reputation and clients’ asset from
probable risks in supply chain in the course of conducting or business. The policy is
guided by ALM’s core value, business ethics, code of conduct and supply chain security
standards. These principals conduct all security operation activities as:
“Incident prevention” will be always ALM’ first consideration for its staff and
contractors when handling supply chain process;
All employees and constractors mus always be alert for security aspects of all
business activities.
Risk analysis and risk evaluation should be conducted on a regular basis;
Security procedures and guidelines should be continuously integrated into business
activities;
Security measures and procedures must be subjected to regalar inspections,
validations and verifications by security auditor in order to maintain a high security
standards.
Contingency plans must be developed and tested to deal with assessed risks;
Appropriate training plan, customer screening, recruitment, contracting and
termination procedures must be established and implemented;
All incident, including security branches and irregularities must be reported and
recorded.

Corrective action must be taken and followed up through regular verifications to
improve the overall security standards.

CHAPTER 2
THEORETICAL BASIS
2.1 Translation in Business Company
2.1.1 Definition of Translation
Translation typically has been used to transfer written or spoken source language
(SL) texts to equivalent written or spoken target language (TL) texts. In general, the
purpose of translation is to reproduce various kinds of texts—including religious, literary,
scientific, and philosophical texts—in another language and thus making them available
to wider readers. (Ordudari, 2007).
The difference between an SL and a TL and the variation in their cultures make the
process of translating a real challenge. Among the problematic factors involved in
translation such as form, meaning, style, proverbs, idioms, etc., the present paper is going
to concentrate mainly on the procedures of translating CSCs in general and on the
strategies of rendering allusions in particular.
2.1.2 Translation Procedures, Strategies AND Methods
2.1.2.1 Translation Procedures
The translating procedures depicted by Nida (1964) including Technical
procedures and Organizational procedures.
Technical procedures consist of analysising of the source and target languages; a
through study of the source language text before making attempts translate it; Making
judgments of the semantic and syntactic approximations.
Organizational procedures encompass constant reevaluation of the attempt made;
contrasting it with the existing available translations of the same text done by other

translators, and checking the text's communicative effectiveness by asking the target
language readers to evaluate its accuracy and effectiveness and studying their reactions.
2.1.2.2 Translation Strategy
According to Krings (1986), translation strategy is that translator makes conscious
plans to solve material translation problems in the framework of a material translation
task.
According to Seguinot (1989), there are at least three global strategies deployed
by the translators:
(i) translating without interruption for as long as possible;
(ii) (ii) correcting surface errors immediately;
(iii) (iii) leaving the monitoring for qualitative or stylistic errors in the text to the
revision stage.
According to Loescher (1991), translation strategy as "a potentially conscious
procedure for solving a problem faced in translating a text, or any segment of it." As it is
stated in this definition, the notion of consciousness is significant in distinguishing
strategies which are used by the learners or translators. In this regard, Bell (1998) states
that "the element of consciousness is what distinguishes strategies from these processes
that are not strategic."
2.1.2.3 Translation methods
There are some methods of translation such as:
 Firstly, it is word-for-word translation in which the SL word order is
preserved and the words translated singly by their most common meanings,
out of context.
 Secondly, it is literal translation in which the SL grammatical constructions
are converted to their nearest TL equivalents, but the lexical words are again
translated singly, out of context.

 Thirdly, it is faithful translation in which it attempts to produce the precise
contextual meaning of the original within the constraints of the TL
grammatical structures.
 Fourthly, it is semantic translation in which differs from 'faithful translation'
only in as far as it must take more account of the aesthetic value of the SL
text.
 Fifthly, it is adaptation in which is the freest form of translation, and is used
mainly for plays (comedies) and poetry; the themes, characters, plots are
usually preserved, the SL culture is converted to the TL culture and the text
is rewritten.
 Sixthly, it is free translation in which it produces the TL text without the
style, form, or content of the original.
 Seventhly, it is idiomatic translation in which it reproduces the 'message' of
the original but tends to distort nuances of meaning by preferring
colloquialisms and idioms where these do not exist in the original.
 Eighthly it is communicative translation in which it attempts to render the
exact contextual meaning of the original in such a way that both content and
language are readily acceptable and comprehensible to the readership.
2.2 International Sales Contract
2.2.1 Definition of International Sales Contract
International sales contract is an agreement between a seller and a buyer for the
sale of goods. The contract should, at a minimum, identify the seller and buyer, the
quantity and type of product, delivery time, price and conditions of payment. In addition,
a well-constructed international sales contract will reference the governing body of law,
the forum where any disputes are to be resolved and the method of dispute resolution,
such as arbitration as opposed to litigation

2.2.2 Main Terms and Condition of International Sales Contract
2.2.2.1 Description of Goods
This clause is one of the central clauses in a sale contract. As a general rule, the
buyer will prefer more precise and detailed descriptions than the seller. If the goods are
not described precisely enough, the buyer may have no recourse should the seller deliver
goods which technically meet the contract description but are unsatisfactory for the
buyer´s commercial purposes
2.2.2.2 Contract Price
The parties shall indicate clearly the contract currency and the price amount in both
figures and words. Should the parties fail to agree on a price in the contract, a provision
explaining the method for determining the price should be included in the contract.
2.2.2.3 Delivery Terms
It is advisable to use Incoterms 2010 published by the International Chamber of
Commerce as "delivery terms" or "shipping terms". Incoterms rules allocate the following
between seller and buyer:
 International transport and administrative costs.
 The point of transfer and risk of the goods.
 Responsability for customs and payment of import duties
 Responsability for obtaining insurance coverage.
 Time of delivery
In the contract, the parties should indicate a specific date for delivery (e.g., october
24, 2013) or a period (e.g, november 2013).
2.2.2.4 Payment conditions
The contract should permit the use of all international payment modes, including at
least: payment in advance, open account, documentary collection and documentary credit
(also known as letter of credit).

2.2.2.5 Documents
Exporters are well advise to be meticulous in their management of export
documentation, especially when the payment method is letter of credit. The parties should
include a clause with a list of documents most commonly required for seller in
international sales contracts.
2.2.2.6 Inspection of goods by the buyer
The parties should indicate whether they agree to inspection "before shipment"
(also known as pre-shipment inspection or PSI); the parties may indicate the place of
inspection as well as other details such as inspection company. The inspection require the
seller to notify the buyer of the availability of the goods for inspection.
2.2.2.7 Retention of title
The retention of title (RoT) clause is a common one in international trade. It
provides that the seller retains ownership of the goods until the full purchase price is paid
and also that the seller may reclaim the goods if the price is not paid. There are several
variations of RoT clause, but to major types can be distinguished: (a) the simple RoT
clause, under which the seller retains title until price is paid, and (2) the extended clause,
under which the seller seeks to extend its title to include: the proceeds from any sale of
goods and any other indebtedness owed to the seller by buyer.
2.2.2.8 Force Majeure
It is common for international trade contracts to be made subject to force majeure
or "hardship" clauses that excuse the parties from performance when their failure is due to
impediments beyond their control or which were reasonably unforeseeable such as the
outbreak of a war, earthquake or hurricane.
2.2.2.9 Resolution of Disputes
The parties should have the alternative between arbitration and litigation. In the
event the parties opt for arbitration should specify the place of arbitration and the

language. If the parties opt for litigation as the required mode of dispute resolution, the
parties should designate the national or municipal courts in which lawsuits are be filed.
2.4 Payment Terms
2.4.1 Definition of Payment Terms
The conditions under which a seller will complete a sale. Typically, these terms
specify the period allowed to a buyer to pay off the amount due, and may demand cash in
advance, cash on delivery, a deferred payment period of 30 days or more, or other similar
provisions.
2.4.2 Kinds of Payment Terms in Export and Import
2.4.2.1 Telegraphic Transfer (TT)
Telegraphic Transfer or telex transfer, often abbreviated to TT, is a term used to
refer to an electronic means of transferring funds. A transfer charge is often charged by
the sending bank and in some cases by the receiving bank.
Historically telegraphic transfer meant a cable message from one bank to another
in order to effect the transfer of money. Prior to the existence of electronic payment
networks this was often directly between banks via a telex message.
2.4.2.1 Letter of credit.( L/C)
Letter of credit is another type of payment term opted by importers and exporters. I
have explained in detail about Letter of credit and its mechanism in a couple of articles in
same website. The details about letter of credit includes advantages of LC to an exporter,
advantages of LC to an importer Disadvantages of Letter of credit to an exporter,
disadvantage of letter of credit to an importer, different types of letter of credit etc.. You
may read the same to have a clear knowledge on Letter of credit. Although letter of credit
has some advantages and disadvantages, it is a safe mode of payment in international
trade for both exporter and importer. So LC is one of the safe types of mode of payment
in international trade.

2.4.2.1 Documentary Collection
A documentary collection is a trade transaction in which the exporter hands over
the task of collecting payment for goods supplied to his or her bank, which sends the
shipping documents to the importer’s bank together with payment instructions.
 Documents against Acceptance (DA)
A buyer is required to "accept" a seller’s time draft, thus acknowledging obligation
to pay at the specific future date. The time of payment occurs at maturity of an accepted
time draft, 30, 60 or 90 days after date of acceptance or date of bill of lading.
 Documents against Payment (DP)
A buyer is required to pay a seller’s sight draft in order to obtain shipping
documents. Payment is made on presentation of the sight draft by a bank to the buyer,
usually one or two weeks after shipment. Under D/P terms, the seller, through a bank
acting as an agent, is able to retain control of the goods until the buyer pays. Under
certain circumstances, such as to meet legal requirements of the importing country or to
obtain a government permit for foreign exchange, the buyer will require possession of the
documents before payment. The seller should inquire as to the practice in specific
countries. Air shipments are often made under documentary bill collections. The buyer, as
direct consignee of the non-negotiable air waybill, will be able to take possession of the
goods before meeting his/her payment obligations.
2.5 Importing and Exporting in a Global Market
2.5.1 Definition of Importing and Exporting
Exporting and importing helps grow national economies and expands the global
market. Every country is endowed with certain advantages in resources and skills. For
example, some countries are rich in natural resources, such as fossil fuels, timber, fertile
soil or precious metals and minerals, while other countries have shortages of many of

these resources. Additionally, some countries have highly developed infrastructures,
educational systems and capital markets that permit them to engage in complex
manufacturing and technological innovations, while many countries do not.
Imports are important for businesses and individual consumers. Countries like
Ellen's often need to import goods that are either not readily available domestically or are
available cheaper overseas. Individual consumers also benefit from the locally produced
products with imported components as well as other products that are imported into the
country. Oftentimes, imported products provide a better price or more choices to
consumers, which helps increase their standard of living.
2.5.2 Process of Importing and Exporting
Basic Export Procedures
(1) Market Research and Setting Objectives of Distribution
 Selecting target markets, methods of exportation and channels
 Setting foreign market objectives on pricing and terms
(2) Trade Regulations
 Export regulations and requirements
 Overseas import regulations and requirements
 Patent, trademark and copyright
(3) Making Contacts
 Enquiries from interested overseas buyers
 Checking buyer's background from ECIC and / or banks
(4) Quotation and Terms
 Making offers and quotation for potential buyers
 Costs, quotations and pro forma invoices, and terms of sale
(5) Sales Contract
 Confirming the sales contract and terms of transaction such as payment terms
(6) Contract Execution
 Producing or sourcing goods

 Packing and labelling
 Arranging shipment
 Preparing exports documentation
 Arranging insurance, if necessary
(7) Customs Clearance
 Arranging export declaration and applying for export licence when necessary
(8) Getting Paid
 Subject to the payment terms specified in the sales contract, the exporter should
present the required documents to the relevant parties for payment
Basic Import Procedures
(1) Setting Market Objectives
 Setting market objectives on pricing and terms
(2) Sourcing Products
 Identifying potential suppliers
 Sourcing channels of distribution
(3) Trade Regulations
 Import regulations and requirements, and checking whether import licence is
required
 Patent, trademark and copyright
(4) Making Contacts
 Sending enquiries to suitable suppliers
(5) Settling Quotation and Terms
 Analysing the supplier's quotation and offers
 Costs and terms of sale
(6) Financing the Purchase
 Preparing for working capital
 Types of bank financing and application, such as exporter credit or other bank
facilities
(7) Sales Contract

 Confirming the sales contract and terms of transaction such as payment terms
(8) Preparing Payment and Insurance
 Preparing payments and insurance specified in sales contract (eg. when
payment term is D/C, submit D/C application to the issuing bank; when trade
term is FOB, arrange cover note with an insurance company)
 Preparing insurance, cover note, when necessary
(9) Acquiring Goods
 Receiving shipping advice and arrival notice
 Receiving export documents from the exporter
 Collecting goods from the specified shipping company or forwarder
(10) Customs Clearance
 Arranging customs clearance and import declaration
2.5.3 Importance of Importing and Exporting
Exporting and importing helps grow national economies and expands the global
market. Every country is endowed with certain advantages in resources and skills. For
example, some countries are rich in natural resources, such as fossil fuels, timber, fertile
soil or precious metals and minerals, while other countries have shortages of many of
these resources. Additionally, some countries have highly developed infrastructures,
educational systems and capital markets that permit them to engage in complex
manufacturing and technological innovations, while many countries do not.
Imports are important for businesses and individual consumers. Countries like
Ellen's often need to import goods that are either not readily available domestically or are
available cheaper overseas. Individual consumers also benefit from the locally produced
products with imported components as well as other products that are imported into the
country. Oftentimes, imported products provide a better price or more choices to
consumers, which helps increase their standard of living.

CHAPTER 3
TRANSLATION OF PAYMENT TERMS IN THE INTERNATIONAL
BUSINESS CONTRACT IN ADDICON LOGISTICS
There are some kinds of main payment terms that the staff in Addicon Logistics have to
make translation.
3.1 Translation Process of Telegraphic Transfers
 Step 1: Determine the type of ways of Telegraphic transfers (TT)
When receiving sales contracts or orders,.. with the payment term of TT, The
translator needs to ask for ways and money to tranfer to partners such as:
(1) TT 100% in advance
(2) TT 100% after the shipment
(3) TT 100% against the import export documents
(4) TT 30% in advance and 70% within 3 days before the shipment.
(5) TT 30% in advance and 70% within 3 days after the shipment.
 Step 2: Focus on the most important words are that:
 In advance in (1) means Trước
 After in (2) means Sau
 Against in (3) means Ngay khi
 Before in (4) means Trước
 Within in (5) means Trong vòng
These key words are very important that have effect on the ways, the time and the
amount of mounts the consignee pays to the consignor.
 Step 3: Check mistakes and the meaning of the words used in this translation.

Firstly, translator have to understand correct requirement from senders. In case the
translator has no very clear requirement of translation. The translator can not use exact
words described in this terms according to international payment regulations.
Secondly, check the mistake from the script. In case there are some mistakes, the
problems will happen to both buyer and seller.
3.2 Translation Process of Letter of Credit.( L/C)
 Step 1: Determine the types of L/C
There are many kinds of L/C
(1) Irrevocable LC.
(2) Irrevocable LC at sight
(3) Irrevocable LC after sight
(4) Revocable LC.
(5) Stand-by LC.
(6) Confirmed LC.
(7) Unconfirmed LC.
(8) Transferable LC.
(9) Back-to-Back LC.
(10) Payment at Sight LC..
When receiving sales contracts or orders,... with the payment term of L/C, The
translator needs to find out exact kinds of L/C which senders want to translate. In case
translator choose wrong kinds of L/C, there will be the big problem impacting on both of
consignees and consignor. The problems is about time of payment, capability of being
revoked or canceled,.....
 Irrevocable in (1) means không thể hủy ngang
 At sight in (2) means trả ngay
 after sight in (3) means trả sau (bao nhiêu ngày)

 Revocable in (4) means có thể hủy ngang
 Stand-by in (5) means dự phòng
 Confirmed in (6) means xác nhận
 Unconfirmed in (7) means không xác nhận
 Transferable in (8) means chuyển nhượng
 Back-to-Back in (9) means giáp lưng
These key words are crucial important becuase every L/C has different terms and
conditions from others.
For example:
An irrevocable letter of credit is a financial instrument used by banks to guarantee
a buyer's obligations to a seller. It is irrevocable because the letter of credit cannot be
modified unless all parties agree to the modifications. It means that one partner cannot
cancel this L/C if there is no agreement from other partner.
While irrevocable A revocable letter of credit can be changed or cancelled by the
bank that issued it at any time and for any reason; or cancelled by the partners in case they
do not want to buy or sell products any more.
The staff have to understand clearly about these L/Cs becuase there are many types
of L/Cs and they are also very comlicated about their terms and conditions.
Moreover, L/C is compulsory, so the translator should check meaning of all terms
and condition carefully, if no, there will be risky for the company.
Secondly, check the mistake from the drafts before issuing the originals. In case
there are some mistakes, The buyer have the right to refuse payment, or it cost us some
money for discrepancies.

3.3 Translation Process of Documentary Collection
 Step 1: Determine the type of Documentary Collection
When receiving sales contracts or orders,.. with the payment term of Documents
against Payment, The translator needs to know which one the senders want to use DP or
DAP because there are some kinds of Documentary Collection such as:
i. Documents against Acceptance (DA)
ii. Documents against Payment (DP) at 90 days sight
iii. Documents against Payment (DP) at 150 days bill of lading date
 against in (i.) means ngay khi
 Acceptance in (i.) means chấp nhận
 at 90 days sight in (ii.) means Sau 90 ngày
 at 150 days bill of lading date in (iii.) means sau 150 kể từ ngày phát
hành vận tải đơn
These key words are very important that have effect on the time in which the
consignee pays to the consignor.
The translator have to distinguish between DA and DP to make sure that the
translation will be correct as senders’ requirement.
Both DA and DP are the terms of payment related to acceptance of shipping
documents pertaining to each consignment from buyer’s bank. Under a DA terms of
payment, importer accepts documents on the basis of an assurance to effect payment by
accepting necessary bill of exchange. The importer collects shipping documents required
to take delivery of imported goods from his bank after such assurance on payment at
mutually agreed maturity date of payment.

In a DP payment terms, the imported need to effect payment against respective
import consignment, before collecting documents for delivery of imported goods. Under a
payment terms – Documents against Payments, the bank delivers documents required for
import clearance only after receiving the value of goods from the importer. The buyer
takes delivery of goods with the original transport document of title delivered by his bank
after effecting payment under sale of goods mentioned in the document. The buyer’s bank
in turn, sends the said amount to seller’s bank as per banking procedures and formalities
under international trade. By the way, the translator should check grammar and the use of
words in this payment.

CHAPTER 4
CURRENT SITUATION OF TRANSLATION AND SOLUTIONS
4.1 Current issues of translation in Addicon Logistics
4.1.1. Advantages in Addicon Logistics
There are some advantages which Addicon Logistics achieves for translation jobs
Firstly, there are two translator and interpretors in Addicon Logistics. Luckily, they
are good enough for translation, even though they are Vietnamese. The translators devote
their time to investing in themselves by acquiring knowledge and experience of
translation. They show their willingness in their translation jobs such as loving English;
keeping studying English; Practising to write well. Especially, the translator learns about
and study your passive language and the culture it comes from. As the result of this, they
can do translation jobs well for Addicon Logistics.
Secondly, the documents after translating will be double checked by Addicon
Logistics’ staff. The translator are the first people doing and checking all documents
translated, then submit the scripts to law department for double-checking. This is very
good way to find out the mistake and control the rish in translation for Addicon Logistics.
As the result of this, all document issued to clients are very clean and correct.
Thirdly, Addicon Logistics sends the translators to training course to improve their
skill. There are to kinds of training course including online course and offlinr course. It
depends on the staff’ free time, they can choose suitable course to attend. Then
Translator Training is the route to new professional opportunities in modern languages in
which learners have been providing distance learning courses in translation.
Professionally managed, with top-class tutors and one-to-one guidance, our courses offer
total flexibility, so learners can study anytime, anywhere, at your own pace and practise

translation skills in a professional context. By taking the advantages of this course, the
staff can do their jobs better.
Fourthly, Addicon Logistics’s working environment is very friendly and nice. This
is one of the fectors make staff feel comfortable when they works. Thus the translation
performance is done well by the staff who satified with this working environment. It is
widely known that being in work is good for people’s health and wellbeing. By creating a
positive, safe and healthy environment for employees, you can increase morale, improve
your employees’ work-life balance and, in turn, positively impact your business.
4.1.2 Disadvantages in Addicon Logistics.
Howeverever, there are some disadvantages of translation when Addicon Logistics
have no native speaker. Especially, When Addicon Logistics find itself in need of
business translation services for a new client project or global initiative, the assessment
criteria applied to such services can often leave Addicon Logistics revealed to unintended
risks and mistakes and misunderstanding of culture.
Misunderstanding of culture is the biggest problem in translation of Addicon
Logistics at this moment. A translation is not something that is done in a minute and need
more knowledge of intercultural. Translators work with precision to convert the meaning
and tone of the text into a different language while taking into account the cultural aspect.
Poor culture knowledge of translations can cause reputational damage and bad promotion.
4.2. Solutions for Addicon Logistics
Skillful translation gives merits and unskillful translation demerits to customers. In
other words, good translation provides benefits and bad translation disadvantages for
customers. Thus the translators must be good at translation. Because Good translation
conveys meaning equivalent to that of the original in ordinary English. So Clients can
read a good translation without effort as if it is originally written in English.

Moreover, the translator shouls mkae nice layput of document. A nice layout adds
value to the document and also nice to the clients to read the translation script. Well
prepared course materials and resources can not only look good but can also aid the
effective comprehension and retention of information.
On the other hand, Addicon Logistics should find out native language translator
because he or she is more fluent, proficient writers in their native language. Native
language translator can accurately and efficiently extract the meaning of the original
document and communicate that message in the appropriate style and terminology to their
native language.
As the result of this, it helps vietnamese translators examine documents thoroughly
and identify ambiguous material that needs clarification. Most native language translators
break down sentences completely before generating new ones in the target language. The
native language translator will recognize culture-bound clichés that make no sense to a
foreign audience.
Literary or cultural metaphors that paint a picture for American audiences may not
be understood by Vietnamese. Native language translator also understands subtle nuances
of texts that may be inappropriate for certain cultures. Visuals may not carry the same
message in other countries. For corporations wanting to develop a positive and strong
international image, native language translators are indispensable. Native language
translators gives corporations written command of a foreign language which is a powerful
tool for business expansion.
In addtion, It is found many pictures with grammar, spelling and translation
mistakes, leading to derision and chuckling on a daily basis. Thus the translators need to
focus much on grammar and speeling. In linguistics, grammar is the set of structural rules
which influences the composition of clauses, phrases, and words in any given language. It
is the systematic study and description of a language, and it helps us to understand how
words and their component parts combine to form sentences. Grammar improves the

development of fluency. When a person has learned grammar, it will be easier for that
person to know how to organise and express the ideas in their mind without difficulty.
When writing on behalf of your organisation, it is important to use the correct
grammar, as this can mean the difference between readers trusting your expertise or
questioning your knowledge of the subject matter. If the translator write poorly, it can
make a negative impression on others.
In short, A key translation factor involves designing the text specifically; to what
and who the text is being produced for; correct use of grammar. Addicon Logistics needs
to know precisely what is needed to have for translation. A native language translator
will alter the style, vocabulary, articulation, and sentence length accordingly. The foreign
language version should have the same impact and carry the identical message to the
specific foreign audience as the original text. Many corporations develop ongoing
relationships with their translators as the more understanding translators have of the
business values, strategies, and products, the greater their ability to effectively translate
them.

CHAPTER 5

Translation of Payment Terms in International Business Contracts

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