目 录
Chapter 1 Introduction 1
1.1 Lead-in 1
1.2 Features of International Transactions 3
1.2.1 Transaction Risks 3
1.2.2 Institutional and Political Risks 4
1.3 Organizations and Legal Environment
of International Trade 5
1.3.1 International Trade
Organizations 5
1.3.2 Legal System of
International Trade 6
1.4 Three-Step Trade Process 7
1.4.1 Preparation for Contract 8
1.4.2 Negotiation of Contract 8
1.4.3 Performance of Contract 9
1.5 General Procedure of Export and
Import 10
1.5.1 For Export on CIF Term with
Payment by L/C 10
1.5.2 For Import on FOB Term with
Payment by L/C 11
1.6 Scope of this Book 12
Exercise 13
Part I Formation of Contracts
Chapter 2 Business Negotiation 18
2.1 Lead-in 18
2.2 Inquiry 19
2.3 Offer 20
2.3.1 What is an offer? 20
2.3.2 Effectiveness of an Offer 24
2.4 Counteroffer 26
2.5 Acceptance 26
2.5.1 What Is an Acceptance? 26
2.5.2 Late Acceptance 28
2.5.3 Withdrawal of An Acceptance 29
2.6 Contracts in Writing 29
2.6.1 Countersignature 30
2.6.2 Elements of International S/C 31
Exercise 33
Part II Subject Terms
Chapter 3 Name and Quality 36
3.1 Lead-in 36
3.2 Name of Commodity 36
3.3 Quality of Commodity 37
3.3.1 Sale by Sample 37
3.3.2 Sale by Description 39
Exercise 43
Chapter 4 Quantity 45
4.1 Lead-in 45
4.2 Systems of Units 45
4.2.1 Imperial System and
US Customary System 45
4.2.2 International System of Units 46
4.2.3 To Clearly Define the
Adopted System 46
4.3 How to Measure Weight 47
4.3.1 Net Weight, Tare Weight and
Gross Weight 47
4.3.2 Other Weights 48
4.4 Quantity Tolerance 49
4.4.1 Quantity Tolerance in S/C 49
4.4.2 Quantity Tolerance in L/C 50
Exercise 50
Chapter 5 Packaging 52
5.1 Lead-in 52
5.2 Importance of Packaging in Import
and Export 53
5.2.1 To Protect the Goods
during Transit 53
5.2.2 To Facilitate Transportation 53
5.2.3 To Promote Sales 53
5.3 Types of Packaging Materials 54
5.3.1 Individual Packaging
Materials 54
5.3.2 Unitized Packaging Materials 56
5.4 Marks on Packages 60
5.4.1 Marks on Individual
Shipping Packages 60
5.4.2 Marks on Containers 63
Exercise 65
Part III Price
Chapter 6 Trade Terms 69
6.1 International Rules Associated with
Trade Terms 69
6.2 Main Features of INCOTERMS 2010 71
6.3 Basic Concepts Related to Trade
Terms 73
6.3.1 Critical Points 73
6.3.2 Obligations 74
6.3.3 Free 74
6.3.4 Customs Clearance and
Formalities 75
6.4 FOB, CFR and CIF of
INCOTERMS 2010 75
6.4.1 FOB 75
6.4.2 CFR 77
6.4.3 CIF 79
6.4.4 Comparison of FOB, CFR and
CIF 81
6.5 FCA, CPT and CIP of
INCOTERMS 2010 82
6.5.1 FCA 82
6.5.2 CPT 83
6.5.3 CIP 84
6.5.4 Comparison of FCA, CPT and
CIP 85
6.6 Other Trade Terms of
INCOTERMS 2010 86
6.6.1 EXW 86
6.6.2 FAS 86
6.6.3 DAT 87
6.6.4 DAP 87
6.6.5 DDP 87
Exercise 88
Chapter 7 Export Pricing and
Quotation 90
7.1 Pricing Strategies 90
7.1.1 Pricing Objectives 90
7.1.2 Pricing Strategies 91
7.2 Price Calculation for International
Sale 92
7.2.1 Cost 92
7.2.2 Expenses 94
7.2.3 Expected Profit 97
7.3 Foreign Exchange Risk 98
7.3.1 Hazards of Foreign Exchange
Risk 98
7.3.2 FX Volatility and Controls 99
7.3.3 Options to Manage FX Risk 99
Exercise 101
Part IV Delivery
Chapter 8 Marine Cargo
Transport 104
8.1 Lead-in 104
8.2 Shipping Services 105
8.2.1 Liner Service 105
8.2.2 Charter Service 107
8.3 Multimodal Transport and
Containerization 110
8.3.1 Multimodal Transport 110
8.3.2 Containerization 112
8.4 Marine Shipping Documents 113
8.4.1 Bill of Lading (B/L) 113
8.4.2 Sea Waybill 124
Exercise 125
Chapter 9 Other Modes of Cargo
Transport 127
9.1 Lead-in 127
9.2 Rail Transport 127
9.3 Road Transport 129
9.4 Air Transport 130
9.5 Other Modes of Transport 132
Exercise 134
Chapter 10 Shipping Terms 136
10.1 Lead-in 136
10.2 Time of Shipment 136
10.3 Port of Shipment and Port of
Destination 137
10.4 Partial Shipment 140
10.5 Transshipment 142
10.6 Advice of Shipment 143
Exercise 143
Part V Insurance
Chapter 11 Marine Cargo
?Insurance 146
11.1 Lead-in 146
11.2 Concepts and Principles of
Insurance 146
11.2.1 Concepts in Insurance
Business 146
11.2.2 Principles of Insurance 147
11.3 Risks, Losses and Expenses
in Marine Transport 150
11.3.1 Risks in Marine Transport 150
11.3.2 Losses in Marine Transport 151
11.3.3 Expenses in Marine
Transport 154
11.4 Ocean Marine Cargo Clauses 155
11.4.1 Basic Coverage 156
11.4.2 Additional Risks 161
11.5 Cargo Insurance for Land and
Air Transport and Parcel Post 163
11.5.1 Overland Transportation
Cargo Insurance Clauses
(Train, Truck) 163
11.5.2 Air Transportation
Cargo Insurance Clauses 164
11.5.3 Parcel Post Insurance
Clauses 165
11.6 Institute Cargo Clauses 166
11.6.1 ICC (A) 166
11.6.2 ICC (B) 167
11.6.3 ICC (C) 168
11.6.4 Summary of the Institute
Cargo Clauses 169
Exercise 170
Chapter 12 Cargo Insurance
Practice 172
12.1 Arranging Cargo Insurance 172
12.1.1 Who Should Arrange
Insurance? 172
12.1.2 Choice of Insurance
Coverage 173
12.2 Insured Amount and Insurance
Premium 174
12.2.1 Insured Amount 174
12.2.2 Insurance Premium 174
12.3 Insurance Documents 175
12.3.1 Types of Insurance
Documents 175
12.3.2 Contents of the Insurance
Policy 177
12.4 Insurance Claim 178
Exercise 180
Part VI Payment
Chapter 13 Negotiable Instruments 184
13.1 Lead-in 184
13.2 Bill of Exchange 184
13.2.1 Requisite Form 185
13.2.2 Types of Bills 187
13.2.3 Use of Bills 188
13.3 Promissory Note 189
13.3.1 Requisite Form 189
13.3.2 Types of Promissory Notes 190
13.4 Check 191
13.4.1 What Is Check? 191
13.4.2 Types Of Check 192
Exercise 193
Chapter 14 Remittance and
Collection 195
14.1 Lead-in 195
14.2 Remittance 195
14.2.1 What Is Remittance? 195
14.2.2 Types of Remittance 195
14.3 Collection 198
14.3.1 What Is Collection? 198
14.3.2 Types of Collection 198
14.3.3 Finance in Payment by
Collection 201
14.3.4 Risk Comparison of Different
Types of Collection 202
Exercise 203
Chapter 15 Documentary Credit 205
15.1 Lead-in 205
15.2 What Is Letter of Credit? 206
15.2.1 Definition 206
15.2.2 Parties Involved 206
15.2.3 Features 207
15.2.4 Contents 208
15.3 Types of Credits 210
15.3.1 Irrevocable Credit and
Revocable Credit 210
15.3.2 Negotiable Credit 210
15.3.3 Sight Credit and Time
Credit 211
15.3.4 Confirmed Credit 211
15.3.5 Transferable Credit 212
15.3.6 Back-to-Back Credits 212
15.3.7 Reciprocal Credits 213
15.4 Payment by Letter of Credit 213
15.4.1 Payment by Non-negotiable
Credit 213
15.4.2 Payment by Negotiable
Credit 214
15.5 Expedition of L/C Establishment 216
15.6 Amendment of L/C 217
15.6.1 How to Proofread L/Cs 217
15.6.2 How to Ask for
Amendment 222
15.7 Terms in Sales Contracts 223
15.7.1 L/C as the Only Payment
Mode 223
15.7.2 L/C with Other Payment
Mode 223
Exercise 225
Chapter 16 Documentation 229
16.1 Process of Contract Implementation 229
16.1.1 Goods Preparation 229
16.1.2 Inspection Process 230
16.1.3 Shipping, Insurance and
Customs Clearance 231
16.1.4 Complying Presentation
under Letter of Credit 232
16.2 Export Documents Required
by the Credit 234
16.2.1 Draft 234
16.2.2 Invoice 235
16.2.3 Packing List 238
16.2.4 Bill of Lading 239
16.2.5 Insurance Documents 240
16.2.6 Inspection Certificates 241
16.2.7 Certificates of Origin 245
16.2.8 Other Documents Related to
Export 250
Exercise 253
Part VII Dispute
Chapter 17 Inspection, Claim and
Force Majeure 256
17.1 Lead-in 256
17.2 Commodity Inspection 256
17.2.1 What Is Commodity
Inspection 256
17.2.2 Time and Places of
Commodity Inspection 257
17.2.3 Commodity Inspection
Bodies 258
17.2.4 China Inspection and
Quarantine (CIQ) 260
17.2.5 Inspection Certificates 261
17.2.6 Inspection Clauses in Sales
Contract 263
17.3 Claim 263
17.3.1 Breach of Contract 263
17.3.2 Discrepancy and Claim
Clause 265
17.3.3 Penalty Clause 266
17.4 Force Majeure 267
17.4.1 What is Force Majeure 267
17.4.2 Force Majeure Clause in
Sales Contract 268
Exercise 269
Chapter 18 Arbitration 271
18.1 Dispute Resolution Processes 271
18.2 Arbitration Agreement 273
18.2.1 What Is Arbitration
Agreement 273
18.2.2 Contents in Arbitration
Agreement 273
18.3 Arbitral Award 276
Exercise 280
Glossary 283
Referenceskdy 300