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The client on his side may draw, whenever he likes, up to the figure of the advance agreed upon, and a fixed interest of six per cent is charged on his drawings (i).
0. I like the system on the whole, but wish to know on what does the different percentage of the advance granted depfend.
M. The figure of the advance to be granted on a bill depends on the degree of confidence the Bank may have on the drawee.
If the firm being drawn upon is well known to us as fully solvent, we have no obiection to go as far as ninety per cent, but in the case of an unknown party, we cannot go farther than seventy five or eighty at most, relying on the sole responsibility of the drawer.
0. % Very well then What would you think of our sending instructions to our partner in Buenos-Ayres to procure from your branch an information slip (2) on each new buyer and
(1) Drawings I Prelevamenti, cioè il danaro che il correntista ritira dalla banca,
(2) Information slip « Cedola d'informazioni» sulla quale la banca esprima F opinione sua circa la posizione commerciale, solvibilità ecc. di una ditta,
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send it with the order, that we may hand it over to you on presentation of our draft here ?
M. Such a proceeding would, no doubt, facilitate operations.
0. We shall easily come to a satisfactory understanding on this, as well as on all other points; I think it advisable however to have an interview on the whole subject with my partner Mr. Low before agreeing, on behalf (1) of the firm, to such conditions as laid down by you. At what o' clock may I call again to-morrow for a conclusive interview ?
M. You will find me here at any time between three and six in the afternoon.
0. All right; allow me then to bid you good-bye till to-morrow.
M. - Take care of yourself, good-bye.
(1) On behalf = Locuzione equivalente a : « a nome di » « per conto di ¡>.
r. Gambaro Dialoghi commerciali inglesi.