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TACN4 - cô Giang Chíp, Exercises of Business English

Foreign Trade UniversityBusiness English

câu hỏi tiếng anh chuyên ngành 4 hợp đồng chap 1

Typology: Exercises

2024/2025

Uploaded on 05/04/2025

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Chapter 1: Negotiating Delivery
1. What are the 5 steps in negotiating delivery?
Timing -> location -> transport -> risk, title and insurance -> terms of trade
Date of delivery, delay, results of delay
Place of delivery and alternative
Modes of transport to be used
Transfer of risk, transfer of ownership and insurance
Incoterm to be used
2. How do we fix the date of delivery?
Use a straightforward calendar date
A certain day after the date of coming into force of the contract
Ex:
Delivery shall be made/effected on Feb 25th
Delivery shall be made 30 days after the date of coming into force of the
contract
3. When does the contract come into force?
When all preconditions for the sale have been met:
- Receipt of import and/of export approval;
- Receipt of foreign exchange approval from a central bank;
- Issuance of a letter of credit or bank guarantee;
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Chapter 1: Negotiating Delivery

  1. What are the 5 steps in negotiating delivery? Timing -> location -> transport -> risk, title and insurance -> terms of trade Date of delivery, delay, results of delay Place of delivery and alternative Modes of transport to be used Transfer of risk, transfer of ownership and insurance Incoterm to be used
  2. How do we fix the date of delivery? Use a straightforward calendar date A certain day after the date of coming into force of the contract Ex: Delivery shall be made/effected on Feb 25th Delivery shall be made 30 days after the date of coming into force of the contract 3. When does the contract come into force? When all preconditions for the sale have been met:
  • Receipt of import and/of export approval;
  • Receipt of foreign exchange approval from a central bank;
  • Issuance of a letter of credit or bank guarantee;
  • Making of a down-payment by the buyer;
  • Issuance of an insurance policy;
  • Issuance of a certificate of origin;
  • Delivery by the buyer of plans; drawings or other documentation.
  1. When is a contract binding?
  • On the signature date (the date of execution)
  1. When is a contract binding and effective?
  • On the date of coming into force of the contract (the effective date) 6. Compare signature date and the date of coming into force of the contract. Signature date or date of execution: the contract is to be binding from this day Date of coming into force or effective date: not usually a calendar date, but the date on which the last precondition is met 7. What is a cut-off date? In what kind of contract is a cut-off date set?
  1. Excused delay and force majeure Force majeure: unexpected and unavoidable events such as a war, crime or an earthquake which prevent people from doing something that is required in a legal agreement
  2. Should the parties wait for the force majeure event to last forever? A party might choose to terminate the contract if a force majeure continues for a month with the following clause: 11. What are the 3 outcomes of Force Majeure? Resumption of delivery: tiếp tục giao hàng Termination of contract Unclear and dangerous situation

12. Compare liquidated damages, penalties and quasi-indemnity. Liquidated damages: Tiền bồi thường định trước

  • The lump sum to be paid per day (week or month) of late delivery
  • The figure of liquidated damage is fair
  • The court might decrease or increase the figure for damages, depending on the country’s law
  • Packaging broken/holed/torn/damaged
  • Packaging contaminated
  • Goods damaged/scratched
  • Goods chafed/torn/deformed (biến dạng)
  • Packaging badly dented (móp, lõm)
  • Packaging damaged-contents exposed (bao bì hỏng và hang lòi ra)
  • Insufficient packaging
  1. Not all notes on the Bill of Lading are considered to be claused. Give examples. Examples:
  • Second-hand/reconditioned/packaging materials used
  • Packaging repaired/mended/resewn/coopered
  • Unprotected
  • Unboxed: chưa đóng hàng 17. Compare between open cover and floating policy. Similarities:
  • Both offer exporter insurance cover on all shipments over time period
  • A ceiling is set on the overall figure – for example, $1 million
  • Such ceiling is automatically freduced by the value of each shipment once it is made Differences:
  • Floating policy is set up for a particular time and automatically expires unless being renewed. Open cover is open-ended. It does not expire although

there are provisions for cancellation on due notice => Open cover is more convenient

  • Open cover is not an insurance policy at all. With open cover, a certificate of insurance is normally issued. If you need a policy, you must request it 18. Distinguish between valued policy (đơn bảo hiểm có kê khai giá trị) and unvalued policy. Valued policy is the policy in which the exporter states the value of the goods on the insurance document Unvalued policy is the case where the exporter did not state the value of the goods being insured with the insurer. Then the value of the goods can be established after a loss. The exporter must prove his figures precisely. As long as the figures precisely. As long as the figure is les than the total cover under the policy, the insurer shall pay Valued policy is preferred today because the pre-stated figure can include not only the cost of the goods but also the profit the exporter hoped to make on them

Cargo B covers:

  • Loss of or damage to the subject-matter insured attributable to:
  • Fire or explosion
  • Vessel or craft being stranded, ground, sunk, or capsized
  • Overturning or derailment of land conveyance
  • Collision or contact of vessel, craft or conveyance with external object other than water
  • Discharge of cargo at a port of distress: cảng lánh nạn
  • Loss of or damage to the subject-matter insured caused by
  • General average sacrifice
  • Jettison or washing overboard
  • Entry of sea-, lake, or river-water into vessel, craft, hold. Conveyance, container, liftvan or place of storage
  • Total less of any package lost overboard or dropped whilst loading and to or unloading from, a vessel or craft Cargo C
  • Loss of or damage to the subject-matter insured attributable to:
  • Fire or explosion
  • Vessel or craft being stranded, ground, sunk or capsized
  • Overturning or derailment of land conveyance
  • Collision or contact of vessel, craft or conveyance with external object other than water
  • Discharge of cargo at port of distress
  • Loss of or damage to subject-matter insured caused by:
  • General average sacrifice
  • Jettison