Self-study key short answers to international trade practice

1. What are the functions of trade terms?

Answer A has become the code of conduct for engaging in international trade, clarifying the risks, responsibilities and expenses that should be borne by each other during the delivery of goods. This greatly simplifies the transaction procedures and shortens the negotiation time, thus saving expenses.

B is conducive to price comparison and cost accounting between both parties to the transaction.

Conducive to the proper settlement of trade disputes.

Second, the characteristics of liner shipping?

Answer: 1, the ship's route and port of call are fixed;

2. The ship sails according to the schedule, and the sailing and arrival time of the ship is relatively fixed;

3. The shipping company collects freight according to the pre-published liner freight rate table, and the freight rate is relatively fixed;

4. Loading and unloading fees are included in the liner freight and shall be borne by the ship;

5. Liner shipping is more flexible. No matter how many goods there are, they can accept delivery (small quantities and groceries) as long as there are vacancies.

3. What is the nature and function of the bill of lading?

Answer: 1 is the goods receipt issued by the carrier or its agent, which proves that it has received the goods from the shipper recorded in the bill of lading;

2. It is a certificate representing the ownership of the goods;

3. It is the evidence that the carrier and the shipper conclude the contract of carriage.

4. What's the difference between multimodal transport documents and multimodal transport bills of lading?

Distinguish the scope of use of the issuer's risks and liabilities.

Multimodal transport documents, various modes of transport, multimodal transport operator, whole journey

Through bill of lading is the first leg of combined transportation by sea and other means, including carrier, captain and shipowner.

5. What are the important contents of the basic insurance exclusion liability in China?

Answer: 1. Losses caused by intentional acts or negligence of the insured;

2. Losses caused by the shipper's responsibility;

3. Before assuming the insurance liability, the insured goods are of poor quality or in short supply;

4. Losses and expenses caused by natural wear and tear, essential defects, characteristics, market price drop and transportation delay of the insured goods;

5. Responsibilities and exclusions stipulated in the War Risk Clause and the Strike Risk Clause.

6. What are the factors that affect the transaction price?

Answer: 1, quality and grade of goods;

2. Transportation distance;

3. Place and conditions of delivery;

4. Changes in seasonal demand;

5. Number of transactions;

6. Risk of payment terms and exchange rate changes;

7, the trend of the international market price;

8, delivery distance, marketing habits, consumer hobbies.

7. What is the actual total loss?

1, the subject matter insured is completely lost;

2. Loss of the subject matter insured (control-piracy);

3. The subject matter of insurance has undergone a qualitative change and lost its original use value;

This ship has disappeared for some time.

8. What are the advantages and disadvantages of collection settlement?

Answer: 1, profit-is conducive to mobilizing the enthusiasm of buyers to order, thus helping sellers to expand their exports.

2. Disadvantages-As collection is a commercial credit, there is a risk that the payment cannot be recovered, especially the risk of D/A in the collection method is greater, so the seller should use this method cautiously.

3. Precautions:

A. The credit status and business style of the buyer must be truly understood, and the transaction amount shall not exceed its credit level;

B. Understand the trade control and foreign exchange control laws and regulations of the importing country, so as to avoid undue losses caused by the fact that the goods are not allowed to be imported or the foreign exchange cannot be collected upon arrival;

C. Understand the business practices of the importing countries and avoid the influence of local practices on safe and rapid foreign exchange collection;

D. The transaction shall be concluded under CIF conditions, and besides the freight insurance, the seller's interest insurance shall also be insured;

E, establish and improve the collection transaction management system, check regularly, collect money in time, and take immediate measures when problems are found to avoid or reduce possible losses.

9. What is the procedure for using the letter of credit?

Answer: 1. The buyer and the seller agreed in the contract to pay by letter of credit;

2. The buyer shall apply to the local bank to open a letter of credit, fill in the letter of credit application form, pay the letter of credit deposit or provide other guarantees as stipulated in the contract.

3. The issuing bank shall open a letter of credit according to the application content and deliver it to the beneficiary through the advising bank;

4. After receiving the letter of credit, the seller will deliver the goods according to the requirements of the letter of credit after verification, and draw a draft and prepare various documents to negotiate payment with the relevant banks;

5. The negotiating bank shall send the bills of exchange and documents to the issuing bank or paying bank designated by the letter of credit for claim;

6. After receiving the documents, the issuing bank will inform the buyer to pay the redemption order.

X. What's the difference between deferred payment and installment payment?

Distinguish between commodity payment and transfer of ownership rights and interests.

Installment payment is made on delivery or basic payment. As long as the final payment is paid, the ownership will be transferred. The buyer did not use the seller's funds, so there was no interest problem.

Deferred payment (high price of goods) Most of the payment will be paid in installments for a long time after delivery. The ownership of general goods is transferred to the buyer at the time of delivery, and the seller's funds are used, so there is a problem that the buyer needs to pay interest.

What are the advantages of using arbitration to solve trade disputes?

Answer: 1. Arbitration has certain flexibility. On a voluntary basis, both parties agree on an arbitration institution and choose their own arbitrators.

2. The procedure is relatively simple. Arbitrators are generally experts or celebrities who are familiar with international trade, and arbitration can solve problems quickly;

3. The arbitration fee is lower than the legal fee;

4. The relaxation of the arbitration atmosphere will not affect the continued development of trade relations between the disputing parties;

The arbitration is final, and the losing party may not appeal, but must execute the award.

(Litigation-compulsory, complicated, harmful, harmful, not conducive to the future development of trade relations between the two sides, high cost)

What is the function of commodity inspection certificate?

Answer: 1, as the basis to prove whether the quality, weight (quantity), packaging and sanitary conditions of the goods delivered by the seller conform to the contract;

2. If the buyer disagrees with the quality, weight, packaging and other conditions, refuses to accept the goods, demands compensation and resolves the dispute;

3. As one of the documents for the seller to negotiate the payment with the bank;

4, as a customs clearance certificate.

13. What are the prerequisites for making an offer?

A: 1. An offer should be made to one or more specific people;

2. The content of the offer must be very clear (clearly indicating the name of the commodity, indicating the quantity of the commodity or the method of specifying the quantity, indicating the price of the commodity or explicitly or implicitly determining the price);

It must be clear that the offeror means that once the offer is accepted by the recipient, his offer will be bound.

14. What are the terminations of the validity of the offer?

Answer: 1. Not accepted within the validity period specified in the offer, or not accepted within a reasonable time although the validity period is not specified;

2. The offeree revokes the offer according to law;

3. After being rejected or counteroffered by the transacted party;

4. Force majeure events occur after the offer;

5. The offeror or the offeree loses capacity before the offer is accepted.

15. What are the characteristics of international factoring?

Answer: 1. It must be an account receivable formed by the sale and production of goods between commercial organizations, and the account receivable does not belong to personal or family consumption or similar purposes;

2. Commercial institutions must transfer the rights of accounts receivable to bill discounters;

3. The functions that the factor must perform: financing suppliers in the form of loans or prepayments, managing accounts related to accounts receivable, collecting accounts receivable, and providing bad debt guarantee for debtors' refusal to pay;

4. The notice of assignment of accounts receivable must be sent to the debtor.

What are the conditions for the establishment of liability for damages in civil law?

Answer: 1, there must be damage facts (generally, the party claiming damages must issue a certificate);

2, there must be a reason to blame the debtor (this is the basic principle and premise of civil law liability for breach of contract);

3. There must be a causal relationship between the cause of the damage and the damage (the damage is caused by the cause for which the debtor should be responsible).

17. What are the characteristics, advantages and disadvantages of consignment?

A: 1. Features: The relationship between the consignor and the consignment agent is consignment;

It is a spot transaction based on physical objects;

The shipper does not bear any risk expenses, and all risk expenses before the goods are sold are borne by the shipper.

2. Advantages: For the shipper, it is conducive to opening up the market and expanding sales, and can also be grasped according to market supply and demand.

Timing of promotion;

It is conducive to mobilizing the enthusiasm of customers who have sales ability and good business style but lack funds;

It greatly saves trading time, reduces risks and costs, and provides convenience for buyers.

3. Disadvantages: high trade risk;

The capital turnover cycle is long and the foreign exchange collection is not safe enough.

What are the characteristics and advantages of the exhibition?

A: Features-organically combine the display and promotion of export commodities, and sell them while displaying, focusing on sales.

One point: 1, which is conducive to promoting export commodities, expanding influence, attracting potential buyers and promoting transactions;

2, is conducive to the establishment and development of customer relations, expand the sales area and scope.

3. It is conducive to conducting market research, listening to consumers' opinions, improving product quality and enhancing export competitiveness.

What are the characteristics of auction?

A: 1 is a spot transaction with open bidding;

2. It is organized in an institution;

It has its own unique laws and regulations.

20. What are the characteristics of futures trading?

A: 1. Taking the standard futures contract as the transaction target;

2. Special liquidation system;

3. Strict deposit system.

What are the characteristics of compensation trade?

Answer: 1. It is carried out on the basis of credit, and the equipment importer has to bear the interest;

2. Equipment suppliers must undertake the obligation to buy back each other's products or services;

3. It is a kind of trading mode that makes use of foreign capital through commodity trading.

22. What are the advantages and disadvantages of counter trade?

A: Advantages-It helps developing countries break through trade barriers, expand exports and exchange urgently needed technology, equipment and materials without increasing foreign debts. Developed countries can also obtain raw materials at more favorable prices through counter-trade.

Disadvantages: 1 is carried out under the principle of reciprocity, and it is very difficult to choose the transaction object, conclude the transaction and perform the contract.

2. Under the mode of counter-trade, the role of market mechanism is greatly weakened, and the price often deviates greatly from the normal price, so it is difficult for a country to obtain the greatest savings of social labor.

Twenty-three, in China, compared with general e-commerce, what are the characteristics of international e-commerce?

A: 1. International e-commerce is mainly aimed at international economic and trade e-commerce activities;

2. International e-commerce generally involves government administrative departments, trading partners and related business departments; The behavior and process of the transaction itself are not directly aimed at the consumers in the market;

3. The specific operation of international e-commerce involves more departments and scopes than general e-commerce, and its related coordination work and legal practice are international;

4. The development of international business in China will produce social linkage and demonstration effect.

Source: Explanation of key terms in International Trade Practice, and self-study at the self-study examination station.

1. Trade term-a special term produced in the long-term international trade practice, which is used to express the price composition of goods and explain the related risks, responsibilities and expenses in the delivery process of goods.

2. Symbolic delivery of goods-as long as the seller completes the shipment at the agreed place on time and submits the relevant documents stipulated in the contract, including the property certificate of the goods, it is deemed to have fulfilled its obligations, and there is no need to guarantee the arrival of the goods. The seller delivers goods against documents, and the buyer pays cash against documents.

3. Good average quality-the average quality level of export commodities in a certain period, generally referring to medium commodities. (refers to the medium-sized commodities of agricultural products in each production year, and refers to the "average quality" of the same commodity shipped at the place of shipment in a certain quarter or a certain shipment month)

4. Quality tolerance-internationally recognized product quality error. In the production process of industrial finished products, sometimes it is inevitable that there will be some product quality index errors.

5. Quality operability-the quality of some primary products is unstable. In order to facilitate the smooth transaction, we can set certain quality operability at the same time as its quality index, allowing the quality index of the goods delivered by the seller to change flexibly within a certain range.

6. Overshipment and Shortage Clause-The seller can pay a certain percentage more or less according to the quantity in the contract at the time of delivery, and he usually adds it to the quantity clause. (Commodities: grain, ore, etc. )

7, neutral packaging-that is, packaging that does not indicate the country of production, place name, manufacturer's name, nor does it indicate the trademark or brand. (Unlicensed neutral packaging, brand neutral packaging)

8. Brand-fixing-The seller shall indicate the trademark or brand designated by the buyer on the goods or packages it sells according to the requirements of the buyer.

9. demurrage-if the party responsible for loading and unloading the goods fails to complete the task according to the agreed loading and unloading time and rate, it is necessary to pay the ship a penalty for delayed shipment.

10. Dispatching fee-If the party responsible for loading and unloading the goods completes the task ahead of schedule within the agreed loading and unloading time, it will help to speed up the ship's turnover and get the ship's bonus.

1 1, OCP clause-where land transportation can usually reach. OCP area is bounded by Rocky Mountains, and its eastern part is designated as inland area. If the goods exported from the Far East to the OCP area of the United States are traded according to OCP terms, the exporter can enjoy the lower OCP preferential shipping rate, and the importer can also enjoy the OCP preferential rate in inland transportation.

12, bill of lading (b/l)-a document issued to the shipper by the carrier or its agent after receiving the goods, which reflects the relationship between the carrier and the shipper.

13, combined bill of lading-used in combined transportation consisting of sea transportation and other modes of transportation, where the carrier (or its agent) issues the bill of lading at the place of departure to the final destination of the goods and collects all the freight.

14, overdue bill of lading-the bill of lading arrived at the port of destination later than the goods; The time to submit documents to the bank is 2 1 day after the date of issuance of the bill of lading.

15, multimodal transport document-a document evidencing the multimodal transport contract and proving that the multimodal transport operator receives the goods and is responsible for delivering the goods according to the terms of the contract, which is issued by the multimodal transport operator. According to the shipper's choice, such documents can be negotiable or non-negotiable.

16, * * * General average (GA)- Ships carrying cargo encounter disasters and accidents at sea, which threaten the safety of cargo and other aspects. In order to eliminate this threat and maintain the safety of goods, it is necessary for the ship to continue to complete the voyage and take measures consciously and reasonably, thus causing some special losses or special extra expenses.

17, cabin-to-cabin clause-insurance liability begins when the insured goods leave the warehouse of the place of departure stated in the insurance policy, including sea transportation, land transportation, inland river transportation and barge transportation in normal transportation, until the goods reach the last warehouse or storage place of the destination consignee stated in the insurance policy, or the insured uses it as other storage places for distribution, distribution and abnormal transportation. However, after the insured's goods finally arrive at the unloading port and are unloaded from the seagoing vessel, the insurance liability is limited to 60 days.

18, joint voucher-it is a more simplified insurance voucher. In China, insurance institutions add the insurance number, risk and amount to the commercial invoice of foreign trade enterprises, and affix the seal of the insurance institution as the underwriting certificate, and the rest items are subject to the invoice. This certificate is not transferable. At present, it only applies to letters of credit opened by Chinese businessmen in some Chinese banks in Hong Kong.

19, insurance policy-is the insurer's underwriting certificate to the applicant, and it is a contract that stipulates the respective rights and obligations of the insurer and the applicant. When the insured goods suffer losses within the scope of insurance, it is also the main basis for insurance claims.

20. Equivalent sample-The seller can process and copy a similar sample according to the sample provided by the buyer and submit it to the buyer for confirmation. This confirmed sample is called back sample (confirmed sample).

2 1, price adjustment clause-only the preliminary price is stipulated when the contract is signed, and it is also stipulated that if the prices of raw materials and funds change, the final price of the contract will be calculated according to the changes of raw material prices and wages. (Mainly applicable to contracts for the production and processing of mechanical equipment and other similar products with long cycle)

22. Bill of exchange-an unconditional written payment instruction issued by one person to another person, which is used to pay a certain amount to someone or his designated person or holder at sight or at a fixed or determinable time in the future.

23. Endorsement-a procedure for transferring the right to a bill of exchange refers to the act that the owner of the bill signs the back of the bill, or adds the name of the transferee, and gives the bill to the seller.

24, check (check)-is a kind of sight bank draft, that is, the depositor issues an order to unconditionally pay a certain amount to the bank, and the drawer issues a certain amount on the check, requiring the drawee's bank to pay a certain amount to a specific person or holder immediately after seeing the ticket.

25. The exporter's D/P is subject to the importer's payment.

D/P at sight-the bank presents the draft and documents at sight, the importer pays at sight, and obtains the documents after paying off the payment. Source: Kao Da-Self-taught Examination Station

D/P at a later date-the bank presents the draft, the importer checks it and accepts it, and then receives the shipping documents after paying off the payment on the maturity date of the draft.

D/A-the exporter's D/A is subject to the importer's acceptance on the draft, and the importer fails to perform the payment obligation before the draft expires. (Only applicable to collection of usance bills)

27. Trust receipt-a written credit guarantee document provided by the importer when borrowing bills, which is used to express his willingness to pick up the goods, keep them, keep them, insure them and sell them on behalf of the collecting bank, and to acknowledge that the ownership of the goods still belongs to the bank.

28. Letter of credit-a written document issued by a bank promising to pay conditionally, which is also the guarantee of the issuing bank to the beneficiary. As long as the beneficiary fulfills the conditions stipulated in the letter of credit, that is, as long as the beneficiary submits various documents that meet the requirements of the letter of credit, the issuing bank will guarantee payment. (Bank credit)

29. Back-to-back letter of credit (transfer letter of credit)-The beneficiary requests the advising bank or other banks of the original letter of credit to open a new letter of credit with similar contents on the basis of the original letter of credit.

30. Reciprocal Letter of Credit-A letter of credit issued by the applicant of two letters of credit in favor of the other party. The purpose of opening a letter of credit is to achieve trade balance and prevent the other party from only entering and leaving.

3 1, standby letter of credit-a special form of letter of credit, is the certificate of the issuing bank's obligation to the beneficiary. The issuing bank guarantees that when the applicant fails to perform his obligations, the issuing bank can pay as long as the beneficiary draws a draft on the issuing bank in accordance with the provisions of the standby letter of credit and attaches a statement or supporting documents of the applicant's failure to perform his obligations.

32. Letter of guarantee (L/G)-A written credit guarantee certificate issued by a bank, insurance company, guarantee company or individual to a third-party beneficiary at the request of the applicant, and the guarantor shall be responsible for the debts or obligations of the applicant.

33. Deposit: one party to a contract pays a certain amount of money to the other party in advance according to the contract, so as to ensure the conclusion and establishment of the contract, ensure the performance of the contract and reserve the right to terminate the contract.

34. Force Majeure-after the signing of the sales contract, the contract cannot be performed or can not be performed as scheduled, not because of the fault or negligence of the parties to the contract, but because of events that the parties to the contract cannot foresee, prevent, avoid or control. The party who has an accident may be exempted from the responsibility of performing the contract or postpone the performance of the contract. (Exemption clause)

35, offer (offer)-any proposal to conclude a contract to one or more specific people, if its content is very certain and shows that the offeror is bound by his offer, once accepted, it constitutes an offer.

36. Acceptance-The offeree agrees to the terms and conditions of the offer by statement or behavior within the time limit specified in the offer. In essence, this is an agreement to the offer.

37. Late acceptance-not a valid acceptance. The acceptance notice fails to reach the offeror within the time limit specified in the offer, or the offer has no time limit and fails to reach the offeror within a reasonable time.

38. First mate's receipt-the receipt of goods sent to the shipper by the first mate of the carrier after the goods are loaded, indicating that the goods have been received and loaded. The shipper can pay the freight to the shipping company or its agent and exchange it for a formal bill of lading.

(it is an important basis for dividing the responsibilities of both parties and the basis for exchanging bills of lading. )

39. Regular settlement of foreign exchange-the negotiating bank determines a fixed settlement period in advance according to the time required to claim from the foreign paying bank, and agrees with the export enterprise that after the expiration of this period, the negotiating bank will actively convert the ticket amount into RMB and transfer it to the export enterprise regardless of whether it has received the payment from the foreign paying bank.

40. International factoring (taking over the accounts receivable business)-A comprehensive modern financial service provided by the factor to the exporter, which integrates the buyer's credit investigation, accounts receivable management and collection, trade financing and credit management, when the payment is settled by non-letter of credit methods such as collection and credit sales.

4 1. distribution-the practice of importers buying and selling designated commodities within a specified time limit and territory according to agreements reached with foreign exporters.

Exclusive distribution-the distributor has the exclusive right to operate the designated goods within the time limit and territory stipulated in the agreement.

General distribution-Distributors do not enjoy exclusive distribution rights, and suppliers can designate several companies to distribute similar goods in the same period and region.

42. Agent-An agent enters into a contract or engages in other legal acts with a third party on his own behalf according to his own authorization, and is directly responsible for the rights and obligations arising therefrom.

43. Consignment is a transaction mode of consignment. The consignor first transports the goods for sale to a foreign consignment place, entrusts a local consignment agent to sell them on his behalf according to the conditions agreed in the consignment agreement, and then the consignment agent settles the payment with the owner.

44. Hedging (Qin Hai)-buying or selling the same amount of futures in the futures market, and selling or buying actual commodities at the same time.

45. Counter-trade-On the premise of reciprocity, two or more trading parties reach an agreement that one party's imported products can be paid in part or in whole with the opposite export products.

46. E-commerce-Through electronic information technology, network interconnection technology and modern communication technology, all parties involved in the transaction can communicate with each other through electronic means, without transmitting paper documents and bills, thus realizing the electronization of the whole transaction process.

47. International e-commerce-the international trade activities that enterprises engage in by using various means of e-commerce operation reflect the electronicization of international trade process brought by modern information technology.