Definition: You are given a conversation between two people. 'Person1:' and 'Person2:' are used to separate their respective dialogues. You are required to assign a label 'formal' if there is an absence of emotion and a presence of questions anywhere within the conversation. If such pattern is not found assign the label 'informal'.
Input:  Person1:       Have you got any specific proposal about the terms of payment ?  
 Person2:I wonder if we can make payment for this order by documentary collection .  
 Person1:        I'm sorry to say the only term of payment we can accept is 100 % irrevocable letter of credit payable against shipping documents .  
 Person2:But our order this time is very large . To open an L / C for such a large amount at a bank is costly . Can you be a bit more flexible and bend the rule a little ?  
 Person1:        I'm afraid not . We insist on a letter of credit , because as seller , we also have the problem of funds being tied up .  
 Person2:To be frank , a letter of credit would increase the cost of my import . When I open a letter of credit with a bank , I have to pay a deposit . That will tie up my money and add to my cost .  
 Person1:        Consult your bank and see if they will reduce the required deposit to a minimum . 

formal