In the evening when Anton returned to the hotel he had a tele¬phone call from Coventry, located to the north of London. It was a call from Mr. Snow, a business associate of the Russian com¬pany for whom Anton worked.
Mr Snow: Mr. Smirnov, I'm calling to send my apologies to Mr. Nikolaev, your chief, for our default.
Anton: Don't worry we have received your payment and every¬thing seems all right. I spoke with Mr. Nikolaev before my departure. He does not bear any grudges against you.
Mr. Snow: I'm very glad to hear that. But still I want to assure you that such things will never happen again.
Anton: Good. I'll pass it on to Mr. Nikolaev on my return to Moscow.

On Monday morning the participants resumed their work and listened to the lecture on payments in international trade.
Here is a part of the lecture:
With any form of international trade it is essential to ensure that payment will be received in accordance with the terms of the un¬derlying commercial contract. The most secure and established methods of settling international trade transactions are:
• by documentary letters of credit and
• by documentary collection bills.
Documentary letters of credit are opened by the importer's bank with a bank in the exporter's country, usually the importing bank's correspondent in the exporting country. Exporters submit to the bank in their country all the shipping, insurance and other docu¬ments specified in the letter of credit issued by the importer's bank. If the documents are in order the bank in the exporting country will credit the exporters with the proceeds. The proceeds are reim¬bursed-by the importer's bank in due course.
Documentary collection bills are presented to the importer's bank or its correspondent by the exporters together with all the shipping, insurance and other documents, specified in the contract. If the documents are in order the importers instruct their bank to pay and they collect the shipping documents then.
There are a few ways of transferring money from bank to bank. In the recent past these ways were:
• mail transfers and
• telegraphic transfers.
Now these two types of messages are practically replaced by SWIFT messages. SWIFT stands for the Society for Worldwide Inter¬bank Financial Telecommunication. It is a network serving now more than 3,000 banks in about 100 countries. It speeds up payment messages between banks immensely. If sending and receiving banks are both 'logged-in', a message can be delivered in under 20 seconds. Over 1 million messages are sent every day via the computers of SWIFT and its member banks.
The role of correspondent banks is permanently growing. They facilitate and expedite international payments. A correspondent bank is one which carries a deposit balance for another bank lo¬cated in another city or country and engages in an exchange of services with that bank.

On Sunday morning the group started on an excursion for Windsor by coach. Windsor lies 34 km west of London and is famous, first and foremost for Windsor Castle, the residence of the royal family Many parts of this historic castle are open to the public while some other parts are always closed and some are closed when the royal family is in residence. The site of Windsor Castle was fust defended by William the Conqueror in 1070 and for the next 900 years the building was con¬tinually enlarged, growing from a medieval castle to a vast and com¬plex royal palace. The most impressive of all the castle buildings is St. Geoige's Chapel, a masterpiece of perpendicular Gothic architecture. The State Apartments, which are closed to the public, comprise 16 rooms, and each is a treasure house of superb furniture, porcelain, and armour The rooms are decorated with carvings by Grinling, Gibbons, ceilings by Venio and works from the royal collections. They include Van Dyck's paintings The star attraction, open to the public, is Queen Mary's Doll's House, designed by Sir Edwin Lutyens and given to the nation in 1923. The furnishings are designed at one-twelfth lifesize. Part of Windsor Central Railway Station has now been converted to a waxworks museum iun by Madame Tussaud's, recreating the scene in 1879 when a special train arrived here to celebrate Queen Victoria's Diamond Jubilee. Queen Victoria, the longest ruling monarch in Britain, who lived in 1837-1901, symbolises the unity of the nation, the British Empire and the progress of the nation in the nineteenth centuiy. After visiting Windsor the group walked to Eton. They went along Thames Street from Windsor Castle down to the river, where Windsor Bridge took them to Eton, Windsor's twin town, on the northern bank. Eton is the home of Eton college, the public school that has produced no fewer than 20 prime ministers. It was term time and they saw a lot of students around, dressed in their distinctive tail coats and wing collars.

One of the evenings Mr. Hill and a few participants decided to go to the cinema to see the film, the latest Oscar Award winner. Before the film was to start they had an hour at their disposal. And they decided to have a ride around London by Mr. Hill's car.
David: What would you like to see during this hour in London?
Anton: And what would you recommend?
David: We might have a ride through this entertainment area around Leicester Square and then through the Strand fa¬mous for its rich hotels. Then we could also drive to St Paul's Cathedral. It looks majestic in the evening lights.
Anton: We would be glad to see all that.
David: Then let's start the journey.
Anton: ... By the way, I know that when you were in Russia you hired a car and drove it a few days. Was it very difficult to drive on the right?
David: Oh, it was very difficult at first. It was necessary to con¬centrate... especially when I wanted to overtake. But the hardest were roundabouts. Well, you know, we Englishmen have always driven on the left and are accustomed to that.
Anton: Did you usuaully find the ways very easily?
David: I wouldn't say so. Once it was terrible. I was in a traffic jam for an hour and then I got lost. But finally everything was all right. I should let bygones be bygones.
Anton: I always wonder how fast your cars and buses go along these narrow streets. It is fantastic. You must be all very good drivers!
There are speed limits — 30 or 40 miles per hour in or near towns in England and 70mph on motorways. The driver must wear a seat belt and so must the front seat passenger. Two yellow lines on the load mean no parking. One yellow line means parking is restiicted. In some big towns the car may be clamped and towed away if it is parked illegally. It is very expensive to get the car back. All the rules and regulations on driving are fully described in The Highway Code.
Petrol stations or garages are often self-service. The driver can select 4 star (super), unleaded petrol or diesel from the automatic pump and pay the cashier. If the pump is not automatic there is an attendant to help.

London was not built as a city in the same way as Paris or New York. It began life as a Roman fortification at a place where it was possible to cross the River Thames. A wall was built around the town for defence, but during the long period of peace which followed the Norman Conquest, people built outside the walls. This building continued over the years. In 1665 there was a terrible plague in Lon¬don which killed too many people. In 1666 the Great Fire of London ended the plague, but it also destroyed much of the city. Although many people who had fled London during the plague returned to live in the rebuilt city after the plague and the Great Fire, there were never again so many Londoners living in the city centre.
These days London has spread further outwards into the country, including surrounding villages. Today the metropolis of Greater Lon¬don covers about 610 square miles (1580 sq. km), and the suburbs of London continue even beyond this area. Some people even commute over 100 miles (over 150 km.) every day to work in London.
The gradual growth of the city helps to explain the fact that Lon¬don does not have just one centre, it has a number of centres, each with a distinct character: the Government centre in Westminster, the shopping and entertainment centre in the West End, the financial and business centre called the City.
The City is rather a small area east of the centre which includes the site of the original Roman town. It is an area with a long and ex¬citing history, and it is proud of its independence and traditional role as a centre of trade and commerce. The City of London is one of the major banking centres of the world and you can find the banks of many nations in the famous Threadneedle Street and the surrounding area. Here, too, the Bank of England, the central bank of the nation. is located. Nearby is the Stock Exchange where shares of commercial companies are bought and sold. A little further is Lloyd's, the most famous insurance company in the world.
During weekdays in the City one can see the City gents with their bowler hats, pin-striped suits and rolled umbrellas. This is the 'unifrom' only of those men involved in banking and business in the City.

One day after an external visit Vladimir Antonov one of the par¬ticipants of the Programme decided to go sightseeing by himself. Just to economise time, he decided to go by taxi.
The famous London black taxi cabs can be hailed in the street. Some cabs are now painted different colours and carry limited adver¬tising, but are still bound by the same strict regulations. They are available for hire if the yellow light above the windscreen is lit. All these taxis have meters which the driver must use on all journeys within the Metropolitan Police District. The District covers most of Greater London and goes out to the Heathrow Airport. For longer journeys the price is usually negotiated with the driver beforehand. There is also a minimum payable charge which is shown on the meter when you hire the cab. Passengers are expected to pay extra for large luggage, journeys between 20.00—06.00, at weekends and holidays.
There are over 500 ranks throughout London, including all major hotels and British Rail stations.
Besides black cabs there are mini-cabs which practically render similar services. But they cannot be hailed in the street, they are in¬distinguishable from private cars. Unlike the black cabs they are not licensed and their drivers do not take the same stringent tests. They are cheaper than black cabs. Usually they are ordered by telephone. They are listed in Yellow Pages.
When Vladimir saw a cab with a yellow light he signaled it to halt:
Vladimir: Excuse me, could you take me to Westminster Bridge?
Driver: Yes, certainly. Get in please. .... Where do you want me to stop?
Vladimir: Near Big Ben or just opposite the Houses of Parlia¬ment.
Driver: Good..... Here you are.
Vladimir: How much is it?
Driver: The meter says three forty.
Vladimir: Here it is... Keep the small change.
Driver: Thank you. Good-bye. Enjoy the sights.

Here is a part of the Contract Mr. Freiser handed over to Mr. Smirnov in the evening:

A fter a coffee break the businessmen resumed their talk:
Ivan: And now comes the price problem.
Frank: As far as I understand you want us to pay airfreight and insure the devices during their shipment.
Ivan: For our trial order these terms are preferable for us. Could you give me your idea of the cif price for each of the devices then?
Frank: Before the break I made some calculations and asked the secretary to type the price list on this basis.
Ivan: Very good.
Frank: Oh, here it is ... Thank you, Nancy.... Now, Mr. Smirnov, you may have a look at the prices. The total sum is three thousand pounds.
Ivan: I certainly admit it's a small order. Therefore I shall not mention discounts you usually grant us. But don't take it as a precedent. When we make contracts in future we hope we shall have a certain discount off prices. Frank: We shall certainly discuss this matter in every particu¬lar case. If you mention future contracts there is a question I would like to ask you. Will you always pre¬fer cif prices and shipment by plane?
Ivan: Oh, no. Far from it. Only in this particular case we have chosen shipment by plane and cif terms. But in future, if nothing extraordinary happens, we shall practice fob Tilbury terms, as usual.
Frank: Fine. No objections on our part. Shall we have a stan¬dard contract for your trial order? Ivan: I suppose so. If you can have it prepared now it would be splendid. I'll sign it. I have the power of attorney.
Frank: And what would you say if I propose to sign it in the evening before our dinner. We could have dinner at the restaurant of your choice.
Ivan: OK. There is a good cosy restaurant near the hotel. It's called White and Red Roses.
Frank: Fine. I'll be waiting for you in the lobby at seven p. m.
Ivan: See you at seven then. Goodbye.

Text
After Ivan Smirnov had a fact-finding visit to Newall Ltd. he studied the materials he got and reported the results of his visit and survey to the General Director. In the morning he tele¬phoned Mr. Freiser and made an appointment for 11 a. m. the same day. Thus they met at Mr. Freiser's premises at 11 and after some preliminaries they got down to business.
Frank: Judging by your early call this morning you have brought us good news, havent'you?
Ivan : That's true. Last night I spoke with my General Director and he gave me the go-ahead to the purchase. And here is the list of the devices we are interested in.
Frank: And how many devices of each type are you ordering?
Ivan : 5 of each the five types, or 25 all in all.
Frank: It is rather disappointing, I should say.
Ivan : I agree with you here. It's a rather small order. But it's a trial order. If our customers are satisfied with the devices they will order some more. Meanwhile we'll contact our customers in a few other cities in Russia. They might be interested too.
Frank: And speaking about your trial order, when do you need the devices?
Ivan: Can you deliver them next month?
Frank: At the earliest we can deliver them during the second half of the month. And how do you want us to ship the goods?
Ivan: By air, this time. They are not very heavy and besides our customers are impatient to test them as soon as possible.
Frank: If I understand you properly you would like us to ship them on cif terms by plane. The cif prices will be much higher than the basic prices stated in our bro¬chures.
Ivan: Then let's discuss the price now.
Frank: Shall we have some coffee or tea first?
Ivan: I don't mind a break at all.

The Production Director showed Mr. Smirnov round the factory and answered a lot of questions of his. There were especially many questions asked on the production floor. The Production Di¬rector told Mr. Smirnov about the products of the company. Mr. Smirnov was greatly impressed by the number of the new products and by their sophistication. Then the Production Director showed Mr. Smirnov the different departments of the company and introduced him to the management team. When all was seen and spoken of the Production Director took Mr. Smirnov to Mr. Freiser's office.
Frank: And what do you think of all that you've seen?
Ivan: Oh, it's very interesting and impressive. It's a very good set-up: modern factory, good labour force.
Frank: That's true. We have been in this business for over ten years. Besides we are planning to expand. Our annual turnover is about twenty million pounds.
Ivan: Then our business will be too small for you, I'm afraid.
Frank: You are wrong here, I'm sure. We try to satisfy all our customers. And we treat them all with high esteem.
Ivan: By the way, could I have some material on your prod¬ucts? I should study the assortment you offer before we discuss other matters relating to the enquiry, or to our future contract.
Frank: Naturally you will have all the publicity brochures and leaflets. They contain all the technical details. We have prepared a pack for you. Ivan: Thank you very much. That's very considerate of you.
Frank: And when will you be able to tell us what devices ex¬actly interest you?
Ivan: Most probably I'll look through all the materials tonight, then contact our General Director and tomorrow I'll give you our reply.
Frank: Hard work, isn't it? But certainly it's better to discuss all the details while you are here in London. Now let's make a break and enjoy lunch at the restaurant just across the street.