FINAL EXAM EXPORT- IMPORT MANAGEMENT (HP: 23C1BUS50307404) ------------------ABC Trading Co, Vietnam (seller) and BT Co., Japan (buyer) agree the conditions and terms of sale contract with the following information: − Commodity: Coffee − Quantity: 200 MT more or less 5% − Price: USD1,700/MT CFR Yokohama Port − Payment: By L/C 60 day from Bill of Lading date. − The contract will come into force from December 4, 2023. Q1. Base on the above basic information and add relevant information, write the sale contract with complete and accurate terms. Q2. As seller, discuss in detail the procedure of the sales contract in Q1. INVOICE, BILL OF LADING 1. Step 1: Export license 2. Step 2: Consider payment terms 3. Step 3: Prepare goods for export 4. Step 4: Inspect goods 5. Step 5: Transportation contract 6. Step 6: Insurance contract 7. Step 7: Be cleared custom procedures 8. Step 8: Delivery the goods (lastest delivery) 9. Step 9: Present shipping documents (Invoice) for payment. (nhắc nhở trả trước 1 tuần) 10. Step 10: Claim and Solving claim Q3. Give an example of imported goods and discuss in detail the procedure of importing the item. No: Date: 04/12/2023 BETWEEN: ABC Trading Co, Ltd (Vietnam) Address: Tel: Fax: Represented by: Hereinafter referred to the Seller. AND: BT Co, Ltd. (Japan) Address: Tel: Fax: Represented by: Hereinafter referred to the Buyer. Both parties have agreed to sign the contract with the following terms and conditions: 1. COMMODITY: Vietnam Robusta Coffee 2. QUALITY: According to the sample agreed by both parties (Sample No 2345) 3. QUANTITY: 200 MT more or less 5% at the Seller’s option. 4. PACKAGING: The goods are packed in the Manufacturer's Standard Export Packing 5. PRICE: - Unit price: USD1,700/MT CFR Yokohama Port, Japan, Incoterms 2010 - Total amount: USD 340,000 +/-5% 6. PAYMENT TERMS: - Payment by irrevocable 100% L/C 60 day from Bill of Lading date. - Beneficiary name: ABC Trading Co, Ltd (Vietnam) - Issuing bank: Tokyo Commercial Bank - Notifying bank: Vietcombank, HCM city - Bank name: JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM – HO CHI MINH CITY BRANCH (VIETCOMBANK – HO CHI MINH CITY BRANCH). 132 HAM NGHI, DISTRICT 1, HO CHI MINH CITY, VIETNAM Swift Code: BFTVVNVX 007. - Documents required: + SIGNED COMMERCIAL INVOICE IN 03 ORIGINALS(S) AND 03 COPIES + FULL SET OF ORIGINAL CLEAN ON BOARD MARINE BILLS OF LADING MARKED “FREIGHT PREPAID” AND CREDIT NUMBER MADE OUT OF TO ORDER OF TOKYO COMMERCIAL BANK AND NOTIFY APPLICANT. + INSURANCE POLICY OR CERTIFICATE IN DUPLICATE FOR AT LEAST 110 PCT OF CFR INVOICE VALUE AND BLANK ENDORSED WITH CLAIMS PAYABLE AT DESTINATION IN THE CURRENCY OF THE DRAFT COVERING: INSTITUTE CARGO CLAUSES (A) INSTITUTE WAR CAUSES (CARGO) + SIGNED PACKING LIST IN 3 ORIGINAL(S) AND 3 COPIES + FUMIGATION CERTIFICATE + PACKING DECLARATION + C/O FORM AJ ISSUED BY THE IMPORT AND EXPORT MANAGEMENT OFFICE OF THE MINISTRY OF INDUSTRY AND TRADE DOCUMENTS MUST BE PRESENTED WITHIN 10 DAYS AFTER THE DATE OF SHIPMENT 7. DELIVERY: - Time of delivery: Latest date of shipment will be January 3rd, 2024. - Delivery of goods will be made CFR - Port of loading: Sai Gon, Vietnam - Port of discharge: Osaka, Japan - Partial shipment: Prohibited - Transshipment: not allowed - Notice of shipment: ● The Seller will advise the Buyer the name of the vessel not later than three (03) days before shipping date by fax. ● Within 05 days from the shipment date the seller must fax to the buyer the following documents: Invoice, Detailed Packing List, Bill of Lading, Certificate of Insurance. 8. INSURANCE: Insurance for the contracted goods will be covered by the Buyer by All Risk Policy. 9. FORCE MAJEURE - Should any circumstances arise preventing either party from full or partial carrying out its obligations under the contract (namely: acts of god, acts of the elements, fire, war, military operations of any nature, blockade or prohibition of export, import), the period stipulated for performance of the contract shall be extended accordingly - In the event of these circumstances prevailing for more than fulfill its obligations under the contract, and in this case, neither party shall be entitled to indemnity of any losses it may sustain. - The party unable to carry out its obligations under the contract shall advise the other party of the commencement and termination of the circumstances preventing the performance of the contract within 5 days - A certificate issued by the Chamber of Commerce of the sellers' or buyers' country shall be sufficient proof of the operation and the duration of such circumstances. 10. ARBITRATION - All disputes arising out of this contract or breach thereof which cannot be settled amicably by the parties concerned shall be settled in Vietnam under the law of Vietnam in accordance to the rule of procedure of The Vietnam arbitration association. - The award of this organization shall be final and binding upon both parties. - In the event of arbitration, the party against whom the award is made shall bear the entire costs of both parties to the action. 11. GENERAL TERMS If any of the provisions in this contract is violated in part or whole, the aggrieved party shall formally inform the other party in writing to seek resolution This contract will come into force from the signing date This contract is made in two (04) copies in English. Each party keeps one (02) copies of contract having equal value. FOR THE SELLER Signed date FOR THE BUYER Signed date Signature Signature Full name Full name lOMoAR cPSD| 10378612 Downloaded by H?nh Nguyên BN (nguyenhanhnguyenbui@gmail.com) lOMoAR cPSD| 10378612 FORMAT REQUIREMENT • Cover page: FINAL EXAM SUBJECT: EXPORT – IMPORT MANAGEMENT Student name: Student ID: Class: - Course: • Font: Times New Roman; Font size: 13; Line spacing: 1.5 • Margin (top, bottom, left, right): 2,54 cm • Page number in the center of page, above • Submitted on LMS by PDF file (File name: Student name –Student ID- Class) • Deadline for submission on LMS: 4/12/2023 (before 5:00PM) • Check Turnitin (required ≤ 20%) Downloaded by H?nh Nguyên BN (nguyenhanhnguyenbui@gmail.com)
