国际贸易实务期末考试复习资料(7)

28. What are the most commonly used trade terms? 答：FOB, CFR ＆ CIF.

29. Who is responsible for carrying out customs formalities for exports under an FOB contract?

答：The seller. According to Incoterms 2010, except EXW and DDP these two terms, all

the other eleven terms require the seller to handle the export customs formalities, while the buyer the import customs formalities.

210. If a Chinese trader signs an FOB Hamburg contract, is he exporting or importing? 答：Importing. FOB should be used with a “named port of shipment”, if Hamburg is the port of shipment, from the Chinese trader?s perspective, he is importing.

31. What are the four components of the standard form of a price? 答：A code of currency, a number, a unit and a trade term.

32. While making pricing decision, what major factors should be considered?

答：When a seller is setting his export prices, the major factors he has to consider include cost, anticipated profit, capability of his target market, terms of payment, competition and relationship between the exporter and the importer.

33. What are the differences and similarities between commission and discount?

答：?Similarities: Both commission and discount are used as incentive to promote transactions.

?Differences: ①Commission payment is an add-up on top of the original price, while discount a reduction; ② Commission mainly applies to transactions which involve middleperson or agent. Discount can be used without particular prerequisites.

34. When will an offer be terminated?

答：An offer will be terminated when: ①it is legally terminated (being withdrawn or revoked); ②it is not accepted by the offeree within the validity period or a reasonable period of time; ③it is rejected by the offeree; and ④some uncontrollable events happen, preventing

the offeror from fulfilling his obligations.

35. What are the possible modifications a counteroffer may make to an offer?

答：If a reply to an offer makes modifications in the following aspects, the reply will be considered as a counteroffer: ①price and payment; ②quality and quantity of goods; ③place and time of delivery; ④extent of one party?s liability to the other; ⑤settlement of dispute.

41. What are the two common ways of indicating quality of goods for export?

答：Sale by description and sale by sample are the two common ways of indicating quality of goods for export.

Sale by description is a way to specify the quality of most commodities in international trade. Sale by description may take the form of sale by specification, sale by grade, sale by

standard, sale by brand name or trade mark, sale by origin and sale by descriptions or illustrations.

A sale is made by sample when the seller and buyer agree that samples are used as reference of quality and condition of the goods to be delivered. This method is used when it is difficult to describe quality of the commodity by words. According to the supplier of the sample, there are three cases under sale by sample: sale by seller?s sample, sale by buyer?s sample and sale by counter sample.

42. What are the issues to be concerned when specifying quality clause in a sales contract?

答：When stipulating a quality clause in a sales contract, the following are to be concerned: ①adopting the right way to stipulate the quality: Sale by description is applicable to commodities of which quality can be expressed by some scientific indices. While sale by sample is adopted when it is difficult to describe quality of the commodity by words.

② avoiding double standard, either by description or by sample: When samples are

required under a sale by description, it is essential to indicate that the sample is for reference only.

③ making use of the quality latitude which allows the seller to have flexibility in

controlling the quality because absolute quality is difficult or even impossible to handle. ④in case of a sample provided by the buyer, making use of protecting clause.

43. What are the common ways to measure the weight of export goods?

答：The common ways to measure the weight of export goods include gross weight, net weight, conditioned weight, theoretical weight and legal weight.

①Gross weight refers to the weight of the commodity plus the weight of the packing.

Gross weight is applicable to commodities of comparatively low value.

②Net weight means the actual weight of a commodity itself excluding the weight of the packing. According to CISG Article 56, the weight of a commodity is calculated by its net weight unless otherwise stated in the contract.

③Conditioned weight is adopted for moisture unstable commodities with high value, such

as wool.

④The weight is a theoretical weight when the total weight of the product is calculated by multiplying the total quantity and the unit weight, rather than measured actually. Theoretical weight is applicable to commodities of standardized sizes and specifications.

⑤Legal weight is the weight of the goods including the immediate, inner, or direct packing

of the goods. According to the customs laws and regulations in some countries, legal weight is usually used as the basis for tariff calculation.

44. What are the different ways of calculating the tare when net weight is used?

答：In international trade, tare can be calculated by actual/real tare, by average tare, by

customary tare or by computed tare when net weight is used and the weight of packing, i. e. the tare, must be deducted.

①Actual/real tare refers to the actual weight of the packing of the commodities. In order

to get the actual tare of the goods, each packing of a good has to be weighed in order to get a total.

②By average tare, the weight of the packing is calculated on the basis of the average.

The average tare can be calculated by weighing a part of the packing of the commodities and working out the average when the packing materials are uniform and the specifications of goods are standardized.

③The packing of some commodities are unified and standardized and the weight of the

packing is known and accepted by everyone. In this case, the recognized weight of the packing, which is called the customary tare, can be used in calculating the net weight.

④Computed tare is the weight of the packing agreed upon by the parties concerned. In

this case, the net weight is calculated by deducting the tare previously agreed upon from the gross weight of the commodity.

45. What are the issues to be concerned when specifying quantity clause in a sales contract?

答：When stipulating a quantity clause in a sales contract, the following are to be concerned: ①adopting the right unit measurements

In international trade, the quantity of commodities is always shown as a specific amount in different measurement units such as weight, number, length, area and volume, etc. Since different commodities have different natures and characteristics, the adoption of measurement units varies. Therefore, the quantity of the contract commodity must be measured in the right measurement unit.

②being aware of different measurement units

Due to the existence of different measurement systems in the world, traders need to be aware of the consistency of system. A notable fact is that some units in different systems carry the same name though; they are indicating standards of measurement with significant difference. In addition, it is true that due to the local background and customary practice, different countries adopt different systems of measurement. Therefore, traders need to clarify the use of unit and measurement system to avoid unnecessary disputes.

③making use of the more or less clause which allows the seller to have flexibility in

making shipment because absolute quantity is difficult or even impossible to handle

“More or less clause” refers to the stipulation constituting part of the quantity clause in the contract that allows the seller to deliver the goods with a certain percentage of more or less in

quantity accordingly. The use of “more or less clause” is for the sake of efficient shipment and less complexity in contract execution because in practice it is not that easy to control the quantity of goods supplied strictly and exactly.

51. Under what circumstances does time of shipment equal to the time of delivery? 答：Time of shipment refers to the time limit for loading the goods on board the vessel at the port of shipment while time of delivery refers to the time limit during which the seller shall deliver the goods to the buyer at the agreed place.

For all shipment contracts, time of shipment equals to time of delivery and they can be used interchangeably in the contract. According to Incoterms 2000, contracts concluded on the basis of terms like FOB, CFR, CIF, FCA, CPT, CIP are shipment contracts. Under the shipment contract, the seller fulfills his obligation of delivery when the goods are shipped on board the vessel or delivered to the carrier and the seller only bears all risks prior to shipment.

52. What are the functions of a bill of lading?

答：A bill of lading has three major functions: First, it is a cargo receipt. Second, it is evidence of a contract of carriage. Finally, it is a document of title to the goods.

53. What are the main types of bills of lading?

答：Bills of lading can be classified into various forms according to different standards. ①According to whether the goods have been loaded on board the carrying vessel, bills of lading can be classified into shipped (or on board) B/L and received for shipment (or received) B/L.

② According to the apparent condition of the received cargo, bills of lading can be

classified into clean B/L and unclean B/L.

③According to the address of the consignee, bills of lading can be divided into straight B/L, order B/L and open B/L.

④ According to whether transshipment is involved in transit, bills of lading can be

classified into direct B/L and transshipment B/L.

⑤According to the perplexity or simplicity of the bill content, bills of lading can be classified into long form B/L and short form B/L.

⑥According to the payment condition of freight, bills of lading can be classified into

freight prepaid B/L and freight to be collected B/L.

⑦According to the validity, bills of lading are classified into original B/L and copy B/L. ⑧Other forms of bill of lading also exist according to different circumstances. They are stale B/L, ante-dated B/L, advance B/L and on-deck B/L.

54. What are the ways of dividing charges of loading and unloading in a charter party? 答：Four methods are usually used to divide the expenses of loading and unloading between the ship-owner and the charterer:

①Liner Terms/Gross Terms or In and Out (I. ＆ O): The ship-owner bears loading and

unloading cost.

②Free In (F. I. ): The ship-owner is only responsible for unloading cost. ③Free Out (F. O. ): The ship-owner is only responsible for loading cost.

④Free In and Out (F. I. O. ): The ship-owner does not bear loading and unloading cost. Or F. I. O. S. T. (free in and out, stowed and trimmed): The ship-owner does not bear loading and unloading cost, not even bear the expenses of stowing and trimming.

55. What factors are to be concerned in stipulating clause of delivery in a contract? 答：The shipment clause in a sales contract usually includes stipulations concerning time of delivery (time of shipment), port (place) of shipment and port (place) of destination, partial shipments, transshipment, or lay days, demurrage and dispatch money.

61. What are the four insurance principles guiding insurance practice in China?

答：The four principles guiding insurance practice in China are the Insurable Interest Principle, the Utmost Good Faith Principle, the Indemnity Principle and the Proximate Cause Principle.

62. What are the differences between general average and particular average?

答：Although both general average and particular average belong to the category of partial loss, there is still some differences between them:

①Causes: Particular average is a kind of cargo loss usually caused directly by sea perils,

while general average is caused by intentional measures taken to save the common interest.

②Indemnification: Particular average is often borne by the party whose cargo is damaged, while general average should be proportionally contributed among all parties benefited from the intentional measures.

63. What are the conditions for general average?

答：A partial loss can be treated as general average if it is formed upon the following conditions:

①The danger that threats the common safety of cargo and/or vessel shall be materially

existent and is not foreseen.

②The measures taken by the master shall be aimed to remove the common danger of both vessel and cargo and shall be undertaken deliberately and reasonably for common safety.

③The sacrifice shall be specialized and not caused by perils directly and the expense

incurred shall be additional expense which is not within the operation budget.

④The actions of the ship?s master shall be successful in saving the voyage.

64. What are the differences between the scope of ICC (B) and ICC(C)?

答：The scope of ICC (C) covers loss of or damage to the cargo attributable to fire or explosion; vessel of craft being stranded, grounded, sunk or capsized; overturning or derailment

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