Here is the document:
Letter of Intent
St. Petersburg__”_” 200___
Messrs Lewis G.F. and Craw M.H. hereinafter referred to the “Customer” and the “Parma Controls Services” company hereinafter referred to as the “Supplier” have signed the present Letter of Intent for the following:
a) the total value of the equipment, spare parts, tools, technical documentation and services in the volume specified in Appendices №__;
b) monthly salaries of the specialists in Local currency from the date of arrival up to the date of departure;
c) air travel expenses of the specialists from St. Petersburg to London and back – tourist/economy class, including the cost of excess luggage transportation over and above the free allowance indicated in each ticket;
d) Supplier’s expenses incurred on the insurance with ingosstrakh against professional risks.
7. Should the quality control equipment delivered by the Supplier reveal the effective and trouble-free performance during the above mentioned period, the Supplier and Customer will make a commitment to step up a joint-stock company to start production thereof.
8. The size, place of location and the brand name of this joint-stock company is a matter to be discussed further.
Having finished the reading, the British businessmen have held a brief consultation with each other. Then Mr. Lewis addresses Mr. Popov:
Mr. Lewis: |
Excuse me, Mr. Popov, but while reading these items enumerated here I’ve come across the word I have hardly ever heard before. This word is “ingosstrakh.” Can you tell me in plain English what this word means?” |
Mr. Popov: |
Well, well, indeed. If you’ve never heard of “ingosstrakh”, don’t worry, not have many westerners. But to put that right, Victor Smirnov will give you the detailed explanation, will you, Victor? |
Mr. Smirnov: |
Yes, I shall. “Ingosstrakh” is the Russian abbreviation which stands for the unit of entrepreneurial activities among its clients. |
Mr. Lewis: |
Well, Mr.Popov. There is nothing in this draft document that I would object in principle. By and large, I agree with the main idea of it. But my immediate feeling is that there might be some details that are omitted. In other words, this draft document like a rough diamond, dug from the depths of our knowledge, but unpolished by the wisdom of experience. I think we’d better take this version back to London and b ounce it off our board of directors in order to perfect it into the ultimate working machine. Then the revised and signed version of the document will be sent within a two-week period of time to you for signing. Does it should good for you? |
Mr. Popov: |
OK It’s a deal. Thank you, gentlemen, for the productive and efficient work. We’ll be looking forward to hearing from you soon. |
Letter of Intent.
The Russian and British participants in the negotiating are at the headquarters of the “Parma Controls Services” company. Mr. Popov, the Head of Overseas Sales Division of this company presides.
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