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A、True
B、False
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更多“The buyer will bear more risks under FOB than under the CFR and CIF.”相关的问题
A、buyer's market
B、seller's market
C、bull market
D、bear market
A Chinese trading company (the Buyer) entered a contract with a Japanese manufacturer (the Seller) of precision machinery and testing equipment for purchasing 15 sets of production lines. The total value of the contract is 400,000 US dollars. Price terms: CFR Shanghai; Time of shipment: the end of September 2017; Payment terms: Buyer opens an irrevocable negotiable letter of credit in full amount two months prior to the date of shipment. In the sales contract, the place of arbitration is China. On July 29, 2017, the buyer opened a letter of credit through a bank in favour of the seller and no deposit was made. The seller, on September 8, shipped the production lines, and negotiated the payment to the negotiating bank. On September 19, the 15 sets of production lines arrived at the port of destination – Shanghai. The regional commodity inspection authority inspected the production lines. The inspection report issued by the authority showed that: 4 out of 15 sets of the production lines are not in conformity with the quality terms stipulated in the sales contract. These 4 sets of production lines cannot be used to manufacture standard-conforming products at all. The buyer insisted that the 15 sets of production lines should be used together. Since 4 sets of the production lines were of no use, the remaining 11 sets of qualified production lines should be rejected as well. Therefore, on September 29, 2017, the buyer sent a memo to the Japanese manufacturer, which requested that all 15 sets of production lines should be sent back to Japan. However, the Japanese seller neither signed the memo nor replied to the Chinese buyer’s request. The buyer finally brought the case to the CIETAC, the arbitration institution specified in the sales contract. The demands of the buyer were: 1). Return the 15 sets of the production lines. The seller should fully refund the payment and bear the costs and expenses associated with the return. 2). The buyer signed a contract with another Chinese company for renting out all 15 sets of the production lines. Because the 4 sets of faulty production lines, the buyer had already paid compensation of 15,000 US dollars to the leasing Chinese company. The buyer demanded that the seller should bear the loss and pay the buyer 15,000 US dollars. Questions: 1. Other than the discrepancy and claim clauses, what kind of clause regarding dispute resolution should be included in the sales contract of this case？ (1’) Why？ (1’) 2. What could be the arbitration awards the arbitration court gives in terms of the demands of the buyer？ (1’+1’) Give your answers for the following subjects a. Return of 15 sets of production lines b. economic loss to the Chinese buyer which rented out the equipment 3. Since the Japanese manufacturer did not sign the memo and respond to the Chinese buyer, could the buyer bring the case to a court in China and sue the Japanese seller for damage and loss first before arbitration？ Why？ (2’+2’) After the arbitration award was made, if the Japanese manufacturer refused to honour the award, what could the Chinese buyer do？ (2’) Total 10 points
A Chinese trading company (the Buyer) entered a contract with a Japanese manufacturer (the Seller) of precision machinery and testing equipment for purchasing 15 sets of production lines and 8 sets of testing devices. The total value of the contract is 400,000 US dollars. Price terms: CFR Shanghai; Time of shipment: the end of September 2013; Payment terms: Buyer opens an irrevocable negotiable letter of credit in full amount two months prior to the date of shipment. Standard arbitration clauses were included in the sales contract. On September 30, 2013, the buyer opened a letter of credit through a bank in favour of the seller and no deposit was made. The seller, on October 8 and 31, shipped the goods in two lots, and negotiated the payment to the negotiating bank. The negotiating bank got repayment from the issuing bank. On October 19, the first lot of 15 sets of production lines arrived at the port of destination – Shanghai. On November 12, the second lot of 8 sets of testing devices arrived at the same port. Since the original copies of the bills of lading for the two lots were not available, the buyer took the goods from the shipping company using the copies of the bills of lading. The provincial commodity inspection bureau inspected the production lines and the testing devices. The inspection report issued by the authority shown that: 4 out of 15 sets of the production lines are not in conformity with the quality terms stipulated in the sales contract. These 4 sets of production lines cannot be used to manufacture standard-conforming products at all. The buyer insisted that the 15 sets of production lines should be used together. Since 4 sets of the production lines were of no use, the remaining 11 sets of qualified production lines should be rejected as well. Therefore, on December 15, 2013, the buyer sent a memo to the Japanese manufacturer, which requested that all 15 sets of production lines should be sent back to Japan. However, the Japanese seller neither signed the memo nor replied to the Chinese buyer’s request. The buyer finally brought the case to the CCPIT, the arbitration institute specified in the sales contract. The demands of the buyer were: 1). Return the 15 sets of the production lines. The seller should fully refund the payment and bear the costs and expenses associated with the return. 2). The 8 sets of the testing devices were late for delivery by six weeks than the stipulated date of shipment. Therefore, the seller should pay the fine of 40,000 US dollars for the delayed delivery. 3). All 15 sets of the production lines were rented out to another Chinese company. Because the 4 sets of faulty production lines, the buyer had already paid compensation of 15,000 US dollars to another Chinese company. The buyer demanded that the seller should bear the loss and pay the buyer 15,000 US dollars. Questions: 1. Other than the discrepancy and claim clauses, what kind of clause regarding dispute settlement should be included in the sales contract of this case？ The buyer demanded a fine of 40,000 US dollars for late delivery of the testing devices to be paid by the Japanese manufacturer. If the Japanese manufacturer does pay the fine, could they terminate the contract？ Why？ 2. How would the arbitration court handle the demands of the buyer？ Give your answers for the following subjects a. 15 sets of production lines b. 8 sets of testing devices c. economic loss to the Chinese company which rented the equipment 3. Since the Japanese manufacturer did not sign the memo and respond to the Chinese buyer, could the buyer bring the case to a court in China and sue the Japanese seller for damage and loss first before arbitration？ Why？ After the arbitration award was made, if the Japanese manufacturer refused to honour the award, what could the Chinese buyer do？
An intemational trade deal can involve up to four contracts and the importer must have a broad understanding of each of them. The four contracts are the contract of carriage , the export sales contract , the insurance contract and the contract of finance. There are three main areas of uncertainty as to which country's law will be applicable to their contracts; the difficulty emerging from inadequate and unreliable information; and the serious problem of the diversity of interpretation of th e various trade terms. The latter point can involve costly litigation and loss of much goodwill when a dispute over the interpretation of such terms arises.
The role of Incoterms 1990 is to give the business person a set of international rules for the interpretation of the more commonly used terms such as FOB, CIF and EXW in foreign trade contracts. Such a range of terms enables the businessperson to decide which is the most suitable for their needs , knowing that the interpretation of terms will not vary by individual country.
It must be recognized, however, that it is not always possible to give a precise interpretation. In such situations one musL rely on the custom of the trade or port. Businesspersons are advised to use terms that are subject to varying interpretations as little as possible and to rely on the well-established and intemationally accepted terms. To avoid any-misunderstandings or disputes, the parties to the contract are well advised to keep trading customs of individual countries in mind when negotiating their export sales contract. However,parties to the contract may use Incoterms as the general basis of their contract , but may specify variations of them or additions to them relevant to the particular trade or circumstances. An example is the CIF plus war risk insurance. The seller would base his quotation accordingly. Special provisions in the individual contract between the parties willoverride[1] anything in the Incoterm provisions.
A point to bear especially in mind is the need for caution in the variation, for example, of CFR,CIF or DDP. The addition of a word or letter could change the contract and its interpretation. It is essential that any such variation be explicitly stated in the contract to ensure each party to the contract to be aware of its obligations and act accordingly.
The buyer and seller parties Lo the contract must especially bear in mind that Incoterms only defines their relationship in contract terms, andhas no bearin directly or indirectly on[2] the carriers' obligations to them as found in the contract of carriage. However,the law of carriage will determine how the seller should fulfil his obligation to deliver the goods to the carrier on board the vessel as found in FOB, CFR and CIF. A further point to bear in mind by the seller and buyer is that there is no obligation for the seller to procure an msurance policy for the buyer's benefit. However, in practice, many contracts request the buyer or seller to arrange insurance from the point of departure in the country of dispatch to the point of final destination chosen by the buyer.
Incoterms 1990 can be divided into recommended usage by modes of transport as under all modes (i. e. combined transport) , EXW, FCA, CPT, CIP, DAF, DDP, DDU; conventional port/sea transport only FAS, FOB, CFR, CIF, DES, DEQ. Incoterms 1990 reflects the changes and development of international distribution during the past decade, especially the development of combined transportation and associated documentation together with electronic data interchange.
[1]比……重要
[2]与……没有直接或间接关系
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