Forwarding agent services are valuable in foreign trade because of the complicated() that have to be made.
A、arrangements
B、procedures
C、arrangement
D、process
A、arrangements
B、procedures
C、arrangement
D、process
A Marine Bill of Lading acts as:
A.an acknowledgement of receipt of the goods by the camer
B.evidence of a contract of carriage
C.a document of title for the goods
D.evidence of the contract between the seller and the forwarding agent
(1)( ) A and C only.
(2)( ) B and D only.
(3)( ) A, B and C only.
(4)( ) B, C and D only.
Loss due to delayed arrival of the goods
In 2006 an import and export corporation exported 1 000 tons of walnut to a British company on the basis of CIF. Payment is made by irrevocable letter of credit at sight. The terms of delivery is subject to the arrival of the goods in Avonmouth on December 2 ,2006 , which is a special item. Our violation to this term resultecl in some economic losses. The basic items in the contract as follows :
Shipment: To be shipped during Oct. 2006 from China port to Avonmouth. The relevant UC opened by the Buyer will reach the Seller before the end of Sept. 2006. Seller undertakes to guarantee that the carrying steamer shall arrive at the named port of destination not later than Dec.2,2006. The actual date of her arrival at the named port of destination will be subject to the actual date of her arrival at the port of destination named verified by the relevant carrier or her agents.
Special terms and conditions on Prices :
(1) In case the carrying vessel arrives at Avonmouth earlier than Nov. 26 ,2006 , the Buyer shall pay the Seller price premium of 0.2% on the total invoice value per day.
(2)In case the carrying streamer arrives at Avonmouth later than Dec. 2,2006, the Seller shall agree to have the contract cancelled if so requested by the Buyer and if the payment has been already collected , it shall be refunded to the Buyer. Notice of the request for cancellation of contract is in all cases to be made to the Seller within 48 (forty-eight) hours after the time of arrival of the steamer at Avonmouth, otherwise the delivery shall be deemed as having been accepted by the Buyer.
After signing the contract , our corporation, through a forwarding agent, hired a vessel whose nationality is Sweden. The vessel started out on its voyage after loading on Oct. 5, 2006, and it was estimated that it would arrive at the destination on Dec. 2, 2006 if everything is in order.
Unfortunately, during the voyage, an engine of the vessel stopped working. Our corporation sent a towboat to drag the vessel forward considering the large amount of the shipments. But after the vessel's arrival at Avonmouth it was several hours later than the stipulated time of delivery (Dec. 2,2006) in the contract. Seeing the price of walnut was falling down in the local market,the Buyer notified our corporation that he refused to take delivery of the goods. Our company had to ask some agents to help sell all the goods on the spot in order to reduce the damage.
In this transaction,the loss of our party suffered was about USD600 000.
Questions :
(1) For walnuts are seasonal merchandises, usually they are sold before Christmas day. When exporting this kind of' goods ,what factor do you think is very important?
(2) In this case , the nature of the contract has changed from the Shipment Contract to Arrival Contract , why?
(Translate the case into Chinese and then answer the question)
Helpful hint: Some clauses of this contract change the characteristics of CIF contract.
阅读以下信用证,并选择填空。
Department: A SWT023BO1 Sep/No: 004951
Message Received On: 2008-05-12/16:56:50
15.03 16:38
33062 BOCSH A CN *
33062 BOCSH A CN
×××××
LOCAL TIMF MON MAY 12 16:09:20 2008
TO: BANK OF CHINA, SHANGHAI
SWIFT CODE: BKCHCNBJA300
FROM: NATL AGRICULTURAL COOPERATIVE FEDN, SEOUL
TEST-KEY: SEE 72 FIELD (CAL FOR 116188)
MUR: 000000000482161:
MESSAGE-TYPE: 700 ISSUE OF A DOCUMENTARY CREDIT
+27: SEQUENCE OF TOTAL 1/1
+40A: FORM OF DOCUMENTARY CREDIT IRREVOCABLE
+20: DOCUMENTARY CREDIT NUMBER JC968509MU00158
:31C: DATE OF ISSUE 080515
+40E: APPLICABLE RULES UCP LATEST VERSION
+3ID: DATE AND PLACE OF EXPIRY 080715 CHINA
+50: APPLICANT RAIN DREANS IMP. & EXP.
CORP.
NO. 90, MOSQUE ROAD, SE-
OUL, KOREA
+59: BENEFICIARY SHANGHAI WENTONG CO.,
LTD.
1125 YANCHANG ROAD,
SHANCHAI, CHINA
+32B: CURRENCY CODE, AMOUNT: USD22 422
+41D: AVAILABLE WITH...BY... ANY BANK
BY NEGOTIATION
42C: DRAFTS AT... 60DAYS AFTER SIGHT
42A: DRAWEE AMERICAN EXPRESS BANK
LTD., NEW YORK
43P: PARTIAL SHIPMENTS ALLOWED
43T: TRANSSHIPMENT ALLOWED
44E: PORT OF LOADING/AIRPORT
OF DEPARTURE CHINA PORT
44F: PORT OF DISCHARGE/AIRPORT
OF DESTNATION BUSAN KOREA
44C: LATEST DATF OF SHIPMENT 080708
45A: DESCRIPTION OF GOODS AND/OR SERVICES
+TRADE TERMS: CIF BUSAN KOREA
ORIGIN: CHINA
+ Trolley Cases
TS503214 1 104PCS
TS503215 1 149PCS
TS503216 1 440PCS
:46A: DOCUMENTS REQUIRED
+SIGNED COMMERCIAL INVOICE IN QUADRUPLICATE
+PACKING LIST IN QUADRUPLICATE SHOWING PIECE LENGTH
PER PACKAGE
+FULL SET OF CLEAN ON BOARD OCEAN BILLS OF LADING
MADE
OUT TO THE ORDER OF NATIONAL AGRICULTURAL COOPERA-
TIVE
FEDERATION MARKED "FREIGHT PREPAID" AND NOTIFY AC-
COUNTEE
+INSURANCE POLICY OR CERTIFICATE IN DUPLICATE, EN-
DORSED
IN BLANK FOR 11OPCT OF THE INVOICE VALUE, EXPRESSLY
STIPULATINC THAT CLAIMS ARE PAYABLE IN THE
CURRENCY OF THE DRAFT, ALSO INDICATING A CLAIMS
SETTLING AGENT IN KOREA AND INSURANCE MUST INCLUDE
INSTITUTE CARGO CLAUSE: ALL RISKS, WAR RISKS AND SRCC
+COPY OF FAX/TLX SENT TO APPLICANT ON SHIPMENT DATE
ADVISING SHIPPING DETAILS
ADDITIONAL CONDITION
47A: +BILLS OF LADING ARE INDICATED NAME ADDRESS AND TELE-
PHONE NUMBER OF CARRYING VESSEL'S AGENT AT PORT OF
DESTINATION
:71B: CHARCES EXCEPT OTHERWISE STATED. ALL BANKINC CHARGES
OUTSIDE KOREA INCLUDING REIMBURSING BANK'S CHARGES
ARE FOR BENEFICIARY'S ACCOUNT
:48: PERIOD FOR PRESENTATION DOCUMENTS TO BE PRESENTED
WITHIN 21 DAYS AFTER THE DATE OF SHIPMENT BUT IN ANY
EVENTS WITHIN THE CREDIT VALIDITY
+49: CONFIRMATION INSTRUCTIONS
WITHOUT
53A: REIMBURSING BANK
AMERICAN EXPRESS BANK LTD, NEW YORK
:78: INSTRUCTIONS TO THE PAYING/ACCEPTING/NEGOTIATING BANK
+THIS CREDIT IS AVAILABLE AT SIGHT BASIS, WITH ACCEPT-
ANCE COMM. AND DISCOUNT CHARGES FOR APPLICANT'S AC-
COUNT
+PLS CLAIM REIMBURSEMENT BY FORWARDING BENEFIGIARY'S
TIME DRAFT AND A COPY OF B/L TO THE REIMBURSING BANK
+T/T REIMBURSEMENT NOT ALLOWED
+ALL DOCUMENTS MUST BE FORWARDED IN TWO
CONSECUTIVE LOTS BY INT'L COURIER SERVICE TO THE FOL-
LOWINC ADDRESS: NATIONAL AGRICULTURAL COOPERATIVE
FEDERATION INTERNATIONAL BANKING DEPARTMENT 75, 1-
KA, CHUNGJEDNG-RD, JUNGKU, SEOUL, KOREA
+THIS CREDIT IS SUBJECT TO UCP, ICC PUBLICATIONS NO. 600
(2007 REVISION)
:72: SENDER TO RECEIVER INFORMATION TEST
S70314
WITH HANIL BANK, SEOUL
PLS CONTACT THEM FOR
TESTKEY VERIFICATION
+END OF MESSAGE +
33062 BOCSH A CN
12-MAY-2008 at 16: 56 from EXTEL
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