Practice of
International
Trade
Li Guo
1
Chapter One:Introduction to International
Trade

I.What is International Trade?

1) Definition:


International trade, also as world trade, foreign trade or overseas trade, is the fair and
deliberate exchange of goods and services across national boundaries. It concerns trade
operations of both import and export and includes the purchase and sale of both visible
and invisible goods.
Foreign trade:from the standpoint of a specific country
World trade : the sum of each country’s foreign trade
Overseas trade: some island countries (Japan ,UK etc.)

2)Characteristic of international trade

The fundamental characteristic that makes international trade different from
domestic trade is that international trade involves activities across national boundaries.
Special problems may arise in international trade that are not normally experienced
when trading at home. In particular:




2







▲Deals might have to be transacted in foreign languages and under foreign laws,
customs (cultural shocks) and regulations.
▲Information on foreign countries needed by a particular firm may be difficult to
obtain.
▲Foreign currency transaction will be necessary E.g USD,GBP,EURO JPY
Exchange rate variations can be very wide and create many problems for international
trade.
▲Risk level might be higher in foreign markets. The risks include political risks(of the
imposition of restrictions on imports etc); commercial risks(market failure, products not
appealing to foreign customers, etc); financial risks(of adverse movement in exchange
rates, high rates of inflation reducing the real value of a company’s working capital,and
so on);and transportation risks.
▲International managers need a broader range of management skills than do managers
who are only concerned with domestic problems.
▲Large amount of important work might have to be left to intermediaries, consultants
and advisers.
3

▲It is more difficult to observe and monitor trends and activities (including
competitor’s activities in foreign countries.

II.Theory of International Trade

International trade volume has been expanding with the industrialization of the western
countries. Figure 1.1 shows the development of world trade since the end of WWII
12,000
10,855
Billions of USD
10,000
8,000
6,000
4,000
2,000
0
98.5
1947 1950
1955
1960
1965 1970
1975 1980 1985
1990 1995
1996
1997
4

The trade volume increased over 100 times since 1947.But why do countries
trade with each other. Briefly, countries trade for two reasons. First , counties
trade because they are different from each other. Nations , like individuals ,
can benefit from their differences by reaching an arrangement in which each
does the things it does relatively well. Second , countries trade to achieve
economies of scale in production. That is, if each country produces only a
limited range of goods, it can produce each of these goods at a larger scale and
hence more efficiently than if it tried to produce everything. In this light, the
theory of trade can be divided into two groups:traditional trade theory and
new trade theory .

.

5

1)Traditional trade theory

Assumptions: constant returns to scale/perfect competition

▲The theory of absolute advantage

This theory was developed by Adam Smith. He observed that when
one nation is more efficient than (or has absolute advantage over ）
another in the production of one commodity but is less efficient than
(or has an absolute disadvantage with respect to )the other nation in
producing a second commodity, then both nations can gain by each
specializing in the production of the commodity of its absolute
advantage and exchanging part of its output with the other nation for
the commodity of its absolute disadvantage.
2x2x1

6

Absolute Advantage
Wheat(bushels/man-hour)
Cloth(yards/man-hour)
U.S
U.K
6
4
1
5
▲The law of Comparative Advantage:David Ricardo 2x2x1
According to the law of comparative advantage, even if one nation
is less efficient than (has an absolute disadvantage with respect to )the other
Nation in the production of both commodities, there is still a basis for mutually
beneficial trade. The first nation should specialize in the production of and export
The commodity in which is absolute disadvantage is smaller (this is the commodity
Of its comparative advantage) and import the commodity in which its absolute
disadvantage is greater (this is the commodity of its comparative disadvantage).
7

Comparative Advantage
U.S
Wheat (bushels/man-hour)
Cloth(yards/man-hour)


6
4
U.K
1
2
▲Heckscher– Ohlin theory (Factor—proportions
theory), developed by two Swedish economists, Eli Hecksher and
Bertil Ohlin (Ohlin received the Nobel Prize in economics in 1977).
If labor were the only factor of production, comparative advantage
could arise only because of international differences in labor
productivity. In the real world , however, while trade is partly
explained by differences in labor productivity, it also reflects
differences in countries’ resources. Canada exports forest products to
the U.S not because its lumberjacks are more productive relative to
their U.S counterparts but because sparsely populated Canada has
more forested land per capita than the U.S. A realistic view of trade
must allow for the importance not just of labor , but of other factors of
production such as land, capital, and mineral resources. Countries tend8

To export goods that are intensive in the factors with which they are
abundantly supplied.

2)New trade theory

Assumptions:increasing returns to scale/imperfect competition
Increasing returns to scale refers to the production situation where
output grows proportionately more than the increase in inputs or
factors of production. Many industries are characterized by increasing
returns to scale, or economies of scale. Because of economies of scale ,
nether country is able to produce the full range of manufactured
products by itself ; thus , although both countries may produce some
manufactures , they will be producing different things.
Trade in a world without Increasing Returns



Home
(capital abundant)
Foreign
(labor abundant)
manufactures
food
9


In a world without economies of scale , there would be a simple
exchange of manufactures for food.
Trade with Increasing Returns and Monopolistic Competition
Home
(capital abundant)
Foreign
(labor abundant)
manufactures
food
Inter-industry trade
Intra-industry
trade
If manufactures is a monopolistically competitive industry, Home and Foreign
Will produce differentiated products. As a result, even if Home is a net export
Of manufactured goods , it will import as well as export manufactures, giving
Rise to intra-industry trade.
Intra-industry trade (manufactures for manufactures) does not reflect comparative
Advantage. It is economies of scale that keep each country from producing the full
Range of products for itself. The relative importance of inter-industry and intra-industry
Trade depends on how similar countries are. If Home and Foreign are similar in their
10
Capital– labor ratios, then there will be little inter-industry trade ,and
intra-industry trade, based on economies of scale, will be dominant. On
the other hand if the capital—labor ratios are different , so that , for
example, Foreign specializes completely in food production, there will
be no intra-industry trade based on economies of scale. All trade will
be based on comparative advantage.

III.The Instruments of Trade Policy

1)Tariff: the simplest form of trade policy, is a tax levied when a




good is imported.
Specific tariffs are levied as a fixed charge for each unit of goods
imported(for example, $3 per barrel of oil)
Ad valorem tariffs are taxes that are levied as a fraction of the value of
the imported goods .
Compound Tariff :specific tariff+ad valorem tariff (but only one is the
main part , the other is a plus)
Alternative Tariff : select the higher one
11

Costs and Benefits of a Tariff for the Importing country
P
D
S
PT
a
PW
b cd
Consumer loss:a+b+c+d
Producer gain:a
Government revenue gain :c+e
The net welfare of a tariff is:
(a+b+c+d)—a—(c+e)=b+d—e
e
P*T
S1 S2 D1 D2
Q
12





2)Other Instruments of trade policy
Export Subsidies:a payment to a firm or individual that ships a good
abroad. Like tariff, an export subsidy can be either specific( a fixed
sum per unit) or ad valorem ( a proportion of the value exported).
Import Quota: a direct restriction on the quantity of some good that
may be imported . The restriction is usually enforced by issuing to
some group or individuals or firms. An import quota always raise the
domestic price of the imported good. The difference between a quota
and a tariff is that with a quota the government receives no revenue.
When a quota instead of a tariff is used to restrict imports, the sum of
money that would appear as government revenue with a tariff is
collected by whomever receives the import license. License holders are
able to buy imports and resell them at a higher price in the domestic
market. The profits received by the holders of import license are also
known as quota rents.
Voluntary Export Restrains(VER)
VER are generally imposed at the request of the importer and are
agreed by the exporter to forestall other trade restrictions.
13




Case Study:
A Voluntary Export Restraint in Practice: Japan Autos
For much of the 1960’s and 1970’s the US auto industry was largely
insulated from import competition by the difference in the kinds of
cars bought by US and foreign consumers. US buyers, living in a large
country with low gasoline taxes, preferred much larger cars than
Europeans and Japanese, and , by and large, foreign firms have chosen
not to challenge the US in the large car market.
In 1979, sharp oil price increases and temporary gasoline shortage
caused the US market shift abruptly to ward smaller cars. Japanese
producers , whose costs had been falling relative to their US
competitors in any case, move to fill the new demand.As the Japanese
market share soared and US output fell, strong political forces in the
US demanded protection for the US industry. Rather than act
unilaterally and risk creating a trade war, the US government asked the
Japanese government to limit its exports. The Japanese , fearing
unilateral US protectionist measures if they did not do so, agreed to
limit their sales. The first agreement , in 1981, limited Japanese exports
to the US to 1.68 million autos.
14




Local Content Requirements is a regulation that requires that some
specific fraction of a final good be produced domestically. From the
point of view of the domestic producers of parts ,a local content
regulation provides protection in the same way an import quota does.
From the point of view of the firms that must buy locally, however, the
effects are somewhat different. Local content does not place a strict
limit on imports. It allows firms to import more, provided that they
also buy more domestically.
Export credit subsidies. This is like an export subsidy except that it
takes the form of a subsidized loan to the buyer. The US , like the most
countries, has a government institution, the Export-Import Bank, that is
devoted to providing subsidized loans to aid exports.
National procurement. Purchases by the government or strongly
regulated firms can be directed toward domestically produced goods
when these goods are more expensive than imports.
Red-tape barriers.Sometimes a government wants to restrict imports
without doing so formally.e.g in 1982 French government ordered that
all Japanese videocassette recorders must pass through the tiny
customs house at a small town----effectively limiting the actual
imports to a handful.
15

Ⅳ.General Procedure of Trade Practice

1) Preparation before the negotiation

Target country:economic and natural resources, infrastructure,
climate and geography,cultural background, political climate etc.
Business partner:credit reference, background information, business
range, business culture etc.
Qualified Negotiators:specialized skills ,communication ability, team
spirit, etc.
Proper plans:define the specific negotiating objective, state the
minimum acceptable level for each of the major items, set time
schedules for implementation, etc.



16







2)Trade Negotiation
Invitation to offer
The offer
The counter offer
Acceptance
3)Signing Business Contract
4)Implementation of the contract


Major Reference Books:
Warren J.Keegan, Global Marketing Management, by Prentice
Hall,1999
吴百福等， 〈进出口贸易实务教程〉， 上海人民出版社，2001
黄维梁，〈国际经济贸易实务〉，高等教育出版社，2002
黎孝先，〈国际贸易实务〉，对外经济贸易大学出版社，2000
17
Chapter Two:Preparation Before
Negotiation (Export Marketing I)

Export marketing is the integrated marketing of goods and
services that are destined for customers in international
markets. Export marketing requires:
 1.An understanding of the target market environment
 2.The use of marketing research and the identification of
market potential
 3.Decision concerning product design, pricing, distribution
and channels, advertising and communication—the
marketing mix.
 The purpose of this chapter is to provide an overview of
the target market environment and the general principles of
marketing research.( The first two issues)
18

I. The Target Market Environment

The macro dimensions of the environment are economic,
social and cultural, political and legal.
 1).The Economic Environment of the Target Market
 Economic System:
 Market Allocation:one that relies on consumers to allocate
resources.The U.S., most Western European countries, and
Japan, the triad countries that account for three quarters of
gross world product, are examples of predominantly
market economies.
 Command Allocation:the state has broad powers to serve
the public interests, which include deciding what products
to make and how to make them. Cuba stands as one of the
last few command allocation economies.
19


Mixed System:There are ,in reality , no pure market or
command systems among the world’s economy. All market
systems have a command sector, and all command systems
have a market sector; in other words , they are “mixed”.
Table 2-1 Index of Economic Freedom
Free
Numbers
7
Hong Kong
Singapore
Bahrain
United States
Japan
Chinese Taiwan
United Kingdom
Mostly Free
36
Canada
Germany
Austria
Bahamas
South Korea
Malaysia
Australia
France
Italy
Sweden
etc
Mostly Unfree
50
S.Africa
Turkey
Mexico
India
Zambia
Indonesia
Russia
Israel
Ghana
Philippines
etc
Repressed
8
Moldova
Haiti
Sudan
Anglo
Mozambique
Vietnam
Cuba
N.Korea
20

Stages of Market Development
 Low-income Countries
 Low-income countries ,also known as pre-industrial
countries, are those with incomes of less than $766 per
capita.The following characteristics are shared by countries
at this income level:
 ▲Limited industrialization and a high percentage of the
population engaged in agriculture and subsistence farming.
 ▲ High birth rates.
 ▲ Low literacy rates.
 ▲ Heavy reliance on foreign aid
 ▲ Political instability and unrest
 ▲ Concentration in Africa , south of Sahara
 Low-Middle-Income countries
21

Also known as less developed countries or LDCs, are those
with a GNP per capita of more than $766 and less than
$3,036.These countries are at the early stages of
industrialization.
 Upper-Middle-Income Countries
 Also known as industrializing countries, are those with
GNP per capita between $3,035 and$9,386.
 High-Income Countries
 High-income countries, also known as advanced ,
industrialized, postindustrial , or First World countries, are
those with GNP per capita above $9,386. With the
exception of a few oil-rich nations.
 Product and market opportunities in a postindustrial
societies are more heavily dependent on new products and
innovation than industrial societies.
22

Table 2-2 Stages of Market Development
Income Group by
Per Capita GNP
1997 GNP per capita
%of World GNP
1997 Population
(Million)
High Income Countries
24,754
81
914
Upper-Middle-Income Countries
3,946
8
540
Lower-Middle-Income Countries
1,385
5
1,088
Low-Income Countries
463
6
3,318
Sources:Warren J. Keegan, Global Income and Population:1997 and Projections to 2000and 2010.
23



2).Social and Cultural Environment
Anthropologists and sociologists define culture as
“ways of living”, built up by a group of human beings, that
are transmitted from one generation to another.” A culture
acts out its ways of living in the context of social
institutions, including family, educational, religious,
governmental and business institutions. Culture includes
both conscious and unconscious values, ideas ,
attitudes ,and symbols that shapes behavior and that are
transmitted from one generation to the next.
Export marketers must recognize and deal with the
differences in the social and cultural environment of world
markets. Theoretically, culture can be divided into two
groups: High-Context cultures and Low-Context
cultures.In a low-context culture, messages are explicit;
words carry most of the information in communication. In
a high-context culture, less information is contained in the
24

Verbal part of a message. Much more information resides
in the context of communication, including the background,
associations,and basic values of the communications. In
general, high-context cultures function with much less
legal paperwork than is deemed essential; in low-context
cultures. Japan, Saudi Arabia, and other high-context
cultures place a great deal of emphasis on a person’s values
and position or place in society.
 Table 2-3 High-and Low-Context Cultures
Factors/Dimensions
Lawyers
A person’s word
Space
Time
High Context
Low Context
Less important
Is his or her bond
Very important
is not to be relied on
“get it in writing”
People breathe on each other
private and resent intrusions
Poly-chronic ---everything
Mono-chronic—time is money
in life must be dealt with in its
Linear—one thing a time.
own time.
25

Negotiations







Competitive bidding
Country/regional
Examples
Are lengthy—major
purpose is to allow
the parties to get to
know each other.
Infrequent
Japan , Middle East
Proceed quickly
Common
United States,
Northern Europe
26



Marketing an Industrial Product in Latin America
A Latin American republic had decided to modernize one of its
communication networks at a cost of several million dollars. Because
of its reputation of quality, the government approached American
company “Y”. Company management, having been sounded out
informally, considered the size of the order and decided to bypass its
regular Latin American representative and send its sales manager
instead.
The next day, the commercial attache introduced the sales manager to
the Minister of Communications. First, there was a long wait in the
outer office while people went in and out. The sales looked at his
watch, fidgeted , and finally asked whether the minister was really
27

Expecting him. The reply he received was really reassuring. “Oh yes,
he is expecting you, but several things have come up that require his
attention. Besides, one gets used to waiting down here.” The sales
manager irritably replied: “ But doesn’t he know I flew all the way
down here from the United States to see him, and I have already spent
over a week of my valuable time trying to find him?” “ Yes, I know,”
was the answer, “but things just move much more slowly here.”
At the end of about 30 minutes, the minister emerged from the office,
greeted the commercial attache with a double abrazo, throwing his
arms around him and patting him on the back as though they were
long-lost brothers. Now, turning and smiling, the minister extended his
hand to the sales manager, who, by this time , was feeling rather
miffed because he had been kept in the outer office so long.
28


After what seemed to be an all too short chat, the minister rose,
suggesting a well-known cafe where they might meet for dinner the
next evening. The sales manager expected, of course, that, considering
the nature of their business and the size of the order, he might be taken
to the minister’s home, not realizing that the Latin home is reserved
for family and very close friends.
Until now, nothing at all had been said about the reason for the sales
manager’s visit, a fact that bothered him somewhat. The whole setup
seemed wrong. He did not like the idea of wasting another day in town.
He had told the home office before he left that he would be gone for a
week or 10 days at most, and made a mental note that he would clean
his order in 3 days and enjoy a few day s in Acapulco or Mexico City.
Now, the week was already gone and he would be lucky if he made
29


It home in 10 days.
Voicing his misgivings to the commercial attache, he wanted to know
if the minister really meant business, and if he did, why could they not
get together and talk about it? The commercial attache by now was
beginning to show the strain o f constantly having to reassure the sales
manager. Nevertheless, he tried again: “ What you don’t realize is that
part of the time we were waiting, the minister was rearranging a very
tight schedule so that he could spend tomorrow night with you. You
see, down here, they don’t delegate responsibility the way we do in the
States. They exercise much tighter control than we do. As a
consequence, this man spends up to 15 hours a day at his desk. It may
not look like it to you, but I assure you he really means business.
30



He wants to give your company the order; if you play your cards right,
you will get it.”
The next evening was more of the same: much conversation about
food and music, and about many people the sales manager had never
heard of. They went to a nightclub, where the sales manager
brightened up and began to think that perhaps he and the minister
might have something in common after all. It bothered him, however,
that the principal reason for his visit was not even alluded to
tangentially. Every time he started to talk about electronics, the
commercial attache would nudge him and proceed to change the
subject.
The next meeting was to be held over morning coffee at a cafe. By now,
the sales manager was having difficulty hiding his impatience
31


To make matters worse, the minister had a mannerism that he did not
like. When they talked, he was likely to put his hand on him; he would
take hold of his arm and get so close that he nearly spit in his face.
Consequently, the sales manager kept trying to dodge and put more
distance between himself and the minister.
Following coffee, they walked in a nearby park. The minister
expounded on the shrubs, the birds, and the beauties of nature; at one
spot, he stopped to point at a statue and said: “ There is a statue of the
world’s greatest hero, the liberator of mankind!” At this point, the
worst happened. The sales manager asked who the statue was of and ,
when told the name of a famous Latin American patriot, said, “ I never
heard of him,” and walked on. After this meeting, the American sales
manager was never able to see the minister again. The order went to
32

A Swedish concern.

Discussion Questions.
1. What impression do you think the sales manager made on the
minister?


2. Is a high-context culture or a low-context culture at work in this
case? Explain your answer.
33




3). The Political and Legal Environment of Export
Marketing
The Political Environment
Export marketing activities take place within the political
environment of government institutions , political parties,
and organizations through which a country’s people and
rulers exercise power. Any company doing business
outside its home country should carefully study the
government structure in the target country and analyze
issues arising from the political environment.
Political Risk
Political risk, or the risk of a change in government policy
that would adversely impact a company’s ability to operate
effectively and profitably. The difficulty of assessing
political risk is inversely proportional to a country’s stage
of economic development: All other things being equal, the
less developed a country, the more difficult to predict 34
political risk.
The recent rapid changes in Central and Eastern Europe and
the dissolution of the Soviet Union clearly demonstrate the
risks resulting from political upheavals
Legal Environment
Common versus Code Law
Private international law is the body of law that applies to
interpretations of commercial transactions between
companies of different nations.
Code law uses codified , written norms , which are
complemented by court decisions.(China, Japan,Korea,etc.)
Common law, on the other hand, is established by tradition
and precedents, which are rulings from previous cases.(U.S,
and other former English colonies)
35
International Trade Practice
Incoterms 《国际贸易术语解释通则》
UCPDC “Uniform Customs and Practice for Documentary
Credits” 《跟单信用证统一惯例》
URC “Uniform Rules for Collections” 《托收统一规则》
International Treaties
CISG “United Nations Convention on Contracts for the
International Sale of Goods” 《联合国国际货物销售合同
公约》
“The Uniform Law on International Sale of Goods”《国际货
物买卖统一法》
法律适用原则:
国际法优先原则\当事人选择原则\密切联系 原则
36

II.Choosing Export Markets

1). Creating a Product-Market Profile

The first steps in choosing export market is to establish
the key factors influencing sales and profitability of the
product in question. If a company is getting started for the
first time in exporting, its product-market profile will have
to be based on its experience in the home market. The
basic questions to be answered can be summarized as the
nine Ws:
 Who buys our product?
 Who does not buy our product?
 What need or function does our product serve?
 What problem does our product solve?
37

What are customers currently buying to satisfy the need
and /or solve the problem for which our product is targeted?
 What price are they paying for the products they are
currently buying?
 When is our product purchased?
 Why is our product purchased?
 2). Market Selection Criteria

Once a company has created a product-market profile,
the next step in choosing an export market is to appraise
possible markets. Five criteria should be assessed:
 Market Potential
 The market potential can be obtained generally from some
organizations in our country( such as MOFTEC and its
provincial committees, foreign trade corporations, etc) or
some organizations overseas (such as Chinese Embassy,
local banks, the agent, the local newspaper, etc.). Whatever
38

source of information is used , the ultimate goal is to
determine the major factors affecting demand for a product.
 Market Access Considerations for Importers
 This aspect of market selection concerns the entire set of
national controls that applies to imported merchandise. It
Includes such items as import duties , import restrictions or
quotas, foreign exchange regulations etc.
 Shipping Cost
 Export preparation and shipping costs can affect the
market potential for a product. If a similar product is
already being manufactured in the target market , shipping
costs may render the imported products uncompetitive. It is
important to investigate alternative modes of shipping as
well as ways to differentiate a product to offset the price
disadvantage.
39




Appraising the Level and Quality of Competition in the
Potential Market
At this stage , contacting a country’s representative abroad
can be very valuable. The representative could always
provide useful reports based on the comparison of the
company’s product with market needs and offerings.
Product Fit
In general, a product fits a market if it satisfies the
following criteria(1)the product is likely to appeal to
customers in the potential market;(2) the product will not
require more adaptation than is economically justifiable by
the expected sales volume; (3) import restrictions and /or
high tariffs do not exclude or make the product so
expensive in the target market as to effectively eliminate
demand; (4)Shipping costs to the target market are in line
40




with the requirements for competitive price; and (5) the
cost of assembling sales literature , catalogs ,and technical
bulletins is feasible in view of the market potential. The
last factor is particularly important in selling highly
technical products.
3)Visiting the Potential Market
After the research effort has been done on potential
markets, there is no substitution for a personal visit to size
up the market firsthand and begin the development of an
actual export marketing program. A market visit should do
several things. First , it should confirm or contradict
assumptions regarding market potential. A second major
purpose is to gather additional data necessary to reach the
final decision.
One way to visit a potential market is through a trade
show . By attending trade shows and missions, company
41

representatives can conduct market assessment, develop or
expand markets, find distributors or agents. Perhaps most
important , by attending a trade show, it is possible to learn
a great deal about competitor’s technology, pricing , and
the depth of their market penetration.
42

III.Sourcing Decision Criteria

There are no single rules to guide sourcing decisions. Six
factors must be taken into account in the sourcing decision.
1).Factor costs and conditions
Factor costs are land ,labor ,and capital costs.
2).Logistics
In general, the greater the distance between the product
source and the target market, the greater and the higher the
transportation cost. However , innovation and new
transportation technologies are cutting both time and costs.
3).Country Infrastructure
The required infrastructure will minimally include
power,transportation and roads , communications, service
and component suppliers, a labor pool, civil order ,and
effective governance. In addition, a country must offer






43
Reliable access to foreign exchange .One of the challenges
of doing business in Russian market is an infrastructure
that is woefully inadequate to handle the increased volume
of shipments. The Mexican government, anticipating much
heavier trade volume because of the North American Free
Trade Agreement , has committed $14billion for
infrastructure.
4). Political Risk
5). Market Access
44



A key factor in locating production facilities is market
access. If a country or a region limits market access
because of local content laws, balance of payments
problems , or any other reasons, it may be necessary to
establish a production facility within the country itself. The
Japanese automobile companies invested in U.S. plant
capacity because of concerns about market access. By
producing cars in the United States , they have a source of
supply that is not exposed to the threat of tariff and nontariff barriers.
6).Foreign Exchange
Exchange rates are so volatile today that many
companies pursue global sourcing strategies as a way to
limit exchange-related risks. Such volatility argues for a
sourcing strategy that provides country options for
supplying markets.
45



Ⅳ.Information System and Research
1). Formal Marketing Research
Information is a critical ingredient in formulating a
successful marketing strategy. Marketing research is the
project-specific , systematic gathering of data. The process
of collecting data and converting it into useful information
can be divided into five basic steps:
Step One: Identify the Research Problem
The research problem often involves assessing the nature
of the nature of the market opportunity. A second research
objective in existing markets may be assessment of the
company’s overall competitiveness in terms of product
appeal, price, distribution, and promotional coverage and
effectiveness.

46







Step Two:Developing a Research Plan
After defining the problem to be studied or the question to
be answered , the marketer must address a new set of
questions. In any event, during the planning step
methodologies, budgets,and time parameters should be all
spelled out.
Step Three:Collecting Data
Using readily available data saves both time and time.
Secondary Data
A low-cost approach to marketing research and data
collection is using the secondary data already existing,
such as personal files , company or public libraries, on-line
databases, government census records,and trade
associations.
Primary Data and Survey Research
47

When data are not available through published statistics or
studies, direct collection is necessary. Survey research
often involves obtaining data from customers by means of
questionnaire. A good questionnaire has three main
characteristics:simple/easy to answer/to the point.
 Sampling
 Sampling is the selection of a subset or group from a
population that is representative of the entire population.
 Step Four: Analyzing Data
 Demand Pattern Analysis
 Income Elasticity Measurements
 Market Estimation by Analogy
 Comparative Analysis
 Cluster Analysis
48


Step Five :Presenting the Findings
Results should be clearly stated and provide basis for
managerial action.
49
Chapter Three: Preparation Before
Negotiations( Export Marketing II)

1.Product Decisions

1).Products:Definition
A product can be defined in terms of its tangible, physical
attributes—such things as weight, dimensions, and
materials. However , marketer cannot ignore status ,
mystique ,and other intangible product attributes that a
particular product may provide. A product ,then , can be
defined as a collection of physical, psychological, service,
and symbolic attributes that collectively yield satisfaction,
or benefits , to a buyer or user.

50

2).Product Positioning
 Positioning refers to the act of locating a brand in
customers’over and against other products in terms of
product attributes and benefits that the brand does or does
not offer. Several general strategies have been suggested
for positioning products: positioning by attribute or
benefit , quality/price, use or application, use/user, hightech and high-touch.
 Attribute or benefit
 Volvo automobiles: solid construction
 Quality/Price
 This strategy can be thought of in terms of a continuum
from high fashion/quality and high price to good
value(rather than low quality )at a low price.
51




Use/User
Positioning can also be achieved by describing how a
product is used or associating a product with a user or class
of users the same way in every market. For example,
Marlboro’s extraordinary success as a global brand is due
in part to the product’s association with cowboys—the
archetypal symbol of rugged independence , freedom,
space and Americana . Smoking Marlboro is a way getting
in touch with a powerful urge to be free and independent.
High—Tech Positioning
Personal computers, video and stereo equipment, and
automobiles are product categories for which high—tech
positioning has proven effective. Such product are
frequently purchased on the basis of physical product
features, although image may also be important.
52


Hi-touch Positioning
Marketing of high-touch products requires less emphasis
on specialized information and more emphasis on image.
Buyers of high-touch products also share a common
language and a set of symbols relating to themes of wealth ,
materialism , and romance. There are three categories of
high—touch products: Products that solve a common
problem, global village products and products with a
universal theme. Ads that show friends talking over a cop
of coffee in a cafe or quenching thirst with a soft drink
during a day at the beach put the product at the center of
everyday life and communicate the benefit offered in a way
that is understood worldwide.(products that solve a
common problem). In global markets, products may have a
global appeal by virtue of their country of origin, they are
called global village products(Marlboro, Sony, Mercedes,
etc.)
53



3). Geographic Expansion –Strategic Alternatives
Companies can grow in three different ways. The
traditional methods of market expansion—further
penetration of existing markets to increase market share
and extension of product line into new product market
areas in a single national market –are both available in
domestic operations. In addition ,a company can expand by
extending its existing operations into new countries and
areas in the world.
Different
Communications
Strategy 2: Product Extension,
Communications Adaptation
Example: Bicycles and motorcycles
Strategy 1: Dual Extension
Same
Example: Applications software
Strategy 4: Dual Adaptation
Example: Greeting cards
Strategy 3: Product Adaptation,
Communication Extension
Example: Electrical products
54
Same
Product
Different

Strategy one: Product/Communication Extension( Dual
Extension)(communications include advertising, public
relations, sales promotion, personal selling , etc)
 Companies pursuing this strategy sell exactly the same
product , with the same advertising and promotional
appeals as used in the home country.
 The product/communication extension strategy has an
enormous appeal to global companies because of the cost
savings associated with this approach. The two most
obvious sources of savings are manufacturing economies
of scale and elimination of duplicate product R&D costs.
 Strategy Two:Product Extension/ Communication
Adaptation
 When a product fills a different need, appeals to a different
segment, or serve s a different function under conditions of
use that are the same or similar to those in the domestic
market, the only adjustment that may be required is in
55
marketing communications.


Bicycles and motor scooters are examples of products that
have been marketed with this approach. They satisfy
recreation needs in the United States but serve as a basic or
urban transportation in many other countries. The appeal of
the product extension/communications adaptation strategy
is its relatively low cost of implementation. Because the
product in this strategy is unchanged, R&D , tooling ,
manufacturing setup, and inventory costs associated with
additions to the product line are avoided. The only costs of
this approach are in identifying different product functions
and revising marketing communications( including
advertising , sales promotion, and point-of –sale material)
around the newly identified function.
Strategy Three : Product Adaptation/ Communication
Extension
Exxon adheres to this third strategy: It adapts its gasoline
formulations to meet the weather conditions prevailing in
different markets while extending the basic
56




communications appeal, “put a tiger in your tank”, without
change.
Strategy Four: Dual Adaptation
Sometimes, when comparing a new geographic market to
the home market, marketers discover that environmental
conditions or consumer preferences differ; the same may
be true of the function a product serves or consumer
receptivity to advertising appeals. In essence, this is a
combination of the market conditions of strategies 2 and 3.
In such a condition , a stage four/five company will utilize
the strategy of product and communications adaptation.
Hallmark, American Greetings , and other U.S.-based
greeting card manufacturers have faced genuine market
condition and preference differences in Europe, where the
function of a greeting card is to provide a space for sender
57



to write an individual message. In contrast , U.S. cards
contain a prepared message, known in the greeting card
industry as sentiment. American manufacturers have
changed both their product and their marketing
communications in response to this set of environmental
differences.
Strategy Five: Product Invention
Adaptation strategies are effective approach to
international marketing , but they may not respond to
global market opportunities. They do not respond to the
situation in markets where customers do not have the
purchasing power to buy either the existing or adapted
products. Colgate pursued this strategy in developing Total,
a new brand whose formulation, imagery, and ultimate
consumer appeal were designed from the ground up to
translate across national boundaries.
58

2. Pricing Decisions

Global Pricing Objectives and Strategies
A number of different pricing strategies are available to
marketers. Generally speaking , they are as follows:
Market Skimming
The market skimming pricing strategy is a deliberate
attempt to reach a market segment that is willing to pay a
premium price for a product. This pricing strategy is often
used in the introductory phase of the product life cycle,
when both production capacity and competition are limited.
By setting a deliberately high price , demand is limited to
early adopters who are willing and able to pay the price.
One goal of this pricing strategy is to maximize revenue on
limited volume and to match demand to available supply.
Another goal of market skimming pricing is to reinforce
customers’perceptions of high product value.



59

When Sony first began selling VCRs in the U.S in 1976, it
used a skimming strategy. Harvey Schein, who was
president of Sony of America at the time , recalled the
response to the $1,295 price tag.
 “ It was fantastic, really. When you have a new product
that is as jazzy as a videotape recorder, you really skim off
the cream of the consuming public. The Betamax was
selling for over a thousand dollars….But there were so
many wealthy people who wanted to be the first in the
neighborhood that it just went whoof—like a vacuum. It
flew off the shelf.”
 Penetration Pricing
 Penetration pricing uses price as a competitive weapon to
gain market position. Penetration pricing often means that
the product may be sold at a loss for a certain length of
time. When Sony developed the portable compact disc
player in the mid-1980s, the cost per unit at initial sales
volume was estimated to exceed $600. Since this was a 60
“no-go” price in the U.S and other target markets, Akio
Morita instructed management to price the unit in the range
of $300 to achieve penetration.
 Market Holding
 The market holding strategy is frequently adopted by
companies that want to maintain their share of market. In
single-country marketing , this strategy often involves
reacting to the prices adjustments by competitors. For
example, when one airline announces special bargain fares,
most competing carriers must match the offer or risk losing
passengers.
 Cost Plus
 Cost-plus pricing requires adding up all the costs required
to get the product to where it must go , plus shipping and
ancillary charges, and profit percentage. The obvious
advantage of using this method is its low threshold: It is

61

Relatively easy to arrive at a quote. The disadvantage of
using historical accounting costs to arrive at a price is that
this approach completely ignores demand and competitive
conditions in target markets. Therefore , historical
accounting cost-plus prices frequently be either too high or
too low in the light of market and competitive conditions.

3.Distribution Channels

Distribution channels are systems that link manufacturers
to consumers. Although channels for consumer products
and industrial products are similar, there are also some
distinct differences. Consumer channels are designed to
put products in the hands of people for their own use;
industrial channels deliver products to manufacturers or
organizations that use them in the production process or in
day-to-day operations.
62
Consumer Products
M
M
Agents
M
MSF
M
M
MSF
MSF
Manufacturer-owned stores
Door to Door
Mail Order
W
W
R
R
M
R
R
W
R
Customers
63
Industrial Products
M
M
M
MSF
D or A
W
W
W
Customers
M=manufacturer
W=wholesaler
MSF=manufacturer’s salesforce
D or A =distributor or agent
64

Case Example: Japan

Japan has presented an especially difficult distribution challenge to
foreign companies. Japanese distribution is a highly developed system
that evolved to satisfy the needs of the Japanese consumer. The total
number of retail outlets in Japan – 1.6 million stores – represents about
5%more stores than in the United States for a population that is half
the size. Japan has 132 retail stores per 10,000 people, compared to 65
stores per 10,000 people in USA. A correspondingly high number of
intermediaries, including more than 400,000 wholesalers, is needed in
Japan to service this fragmented system of outlets.
The categories of wholesalers and retailers in Japan are very finely
divided. For example, meat stores in Japan do about 80% of their
business in meat items.Similar specialization exists in other

65


specialty stores as well. This kind of concentration is also true at the
wholesale level. This very high degree of specialization in Japan is
made possible by the clustering of various types of stores at major
street intersections or stops along commuter rail lines.
There are, of course, many instances in which overseas firms have
entered the Japanese market and have been able to overcome
difficulties presented by the distribution system. Unfortunately,
problems in coping with and adapting to Japanese distribution have
also prevented a number of firms from achieving the success they
might have had. Historically, foreign marketers in Japan make two
basic mistakes. The first is their assumption that distribution problems
can be solved the same way they would be in the West, that is, by
going as directly as possible to the customer and thus cutting out
66



the middleman. In Japan,because of the very fragmented nature of
retailing, it is simply not cost effective to go direct.
The second mistake often made is in treating the Japanese market at
arm’s length by selling to a trading company may sell in low volumes
to a very limited segment of the market, such as the luxury segment,
with the result that there is usually limited interest on the part of the
trading company. The experience is likely to be disappointing to all
parties involved.
Successful distribution in Japan(or any other market) requires
adaptation to the realities of the marketplace. In Japan, this means first
and foremost adaptation to reality of fragmented distribution. Second,
it requires research into the market itself including customer needs and
competitive products. Then a company must develop an overall
marketing strategy that (1) positions the product vis-a-vis market
67

Segment identified according to need, price, and other
issues; (2) Positions the product against competitors; and
(3) lays out a marketing plan– including a distribution
plan– for achieving volume and share-of –market
objectives.

4. Promotion
Marketing communications– the promotion P of the
marketing mix– refers to all forms of communication used
by organizations to inform, remind, explain, persuade, and
influence the attitudes and buying behavior of customers
and other persons. The elements of of promotion mix are
advertising , public relations, personal selling, and sales
promotion.

68






1. Export Advertising
Advertising may be defined as any sponsored, paid
message placed in a mass medium. Global advertising is
the use of the same advertising appeals, messages, art,
copy, photographs, stories, and video segments in multicountry markets.
Cultural Consideration
Knowledge of cultural diversity , especially the symbolism
associated with cultural traits, is essential when creating
advertising. For example, use of colors and man-woman
relationships can often be stumbling blocks. White in Asia
is associated with death. In Japan, intimate scenes between
men and women are considered to be in bad taste; they are
outlawed in Saudi Arabia.
Advertising Agency Selection
In selecting an advertising agency, the following issues
should be considered:
69





National responsiveness. Is the global agency familiar with
the local culture and buying habits in a particular country,
or should a local selection be made?
Area coverage. Does the candidate agency cover all
relevant markets?
Buyer perception. If the product needs a strong local
identification, it would be best to select a national agency.
Media Considerations
Although markets are becoming increasingly similar in
industrial countries, media situations still vary to a great
extent. The availability of television , newspapers, and
other forms of electronic and print media varies around the
world.
70


2. Public Relations
The basic tool of PR includes news releases, newsletters,
press conference, tours of plants and other company
facilities, articles in trade or professional journals,company
publications and brochures, TV and radio talk show
appearances by company personnel, special events, and
home page on the Internet.
71
Chapter Four:Terms of Commodities

I.Name of Commodities

Should be clearly stipulated

ways to name the commodities
II.Quality of Commodities

ways to show quality:

1)sale by sample

Sample is a small quantity of a product, often taken out
form a whole lot or specially designed and processed that
is given to encourage prospective customers to buy the
product.


72





▲ sale by seller’s sample
sale by seller’s sample: representative sample(original
sample\type sample) is usually sent by the seller to the
buyer, and at the same time,duplicate samples are always
kept by the seller for later reference.In case the quality of
the goods delivered is not identical with the sample, the
buyer is entitled to claim compensation for losses or reject
the goods.
“Quality as per seller’s sample”
▲ sale by buyer’s sample
When possible, the seller will do according to the buyer’s
sample.If impossible,he may send to the buyer a sample of
goods in similar quality, called return sample or counter
sample, as a proposal for the buyer’s consideration.
73

“Quality as per buyer’s sample”

Whether the samples are presented by the buyer or
seller, the quality of the commodities should be strictly
same as sample. Otherwise, it should be stipulated
specifically in the contract:
 Quality be similar to sample submitted by the seller
on …(date)
 The goods to be delivered shall be about equal to seller’s
sample No….


2) Sale by Actual Quality 凭成交商品的实际 品质买卖 /
看货买卖
74

3).Sale by Description
 ▲ Sale by specifications (凭规格买卖）
 ▲ Sale by grade （凭等级买卖）
 ▲ Sale by standard （凭标准买卖）

FAQ(Fair Average Quality) “良好平均品质”

GMQ(Good Merchantable Quality) “上好可销品质 ”
 F.A.Q denotes a quantity of a product that is offered not
on a particular quality specification but on the basis that is
equal to the average quality of the current group, recent
shipment. While G.M.Q. refers to the sound quality that is
free from defects and is sufficiently good to satisfy the
purpose for which the buyer intends to use the goods or for
which the seller intends that they should be used. Both
terms are rather too general and sweeping. When in use,
therefore, they are usually supplemented by some concrete
specifications.

75




▲ Sale by brand or trade mark （平牌名或商标买卖）
▲ Sale by name of origin , or sale by geographical
indication （凭产地名称或地理标志买卖）
▲ Sale by description and illustration 凭说明书和图样买
卖
“Quality and technical data to be strictly in conformity
with the description submitted by the seller”
76





III.Quantity of Commodity
In international trade,as different products have different
characteristics and different countries may adopt different
systems of weights and measures , units of weights and
ways of quantity calculation are varied. Units of
calculation include weight , length ,area, volume and
capacity. The quantities of many commodities are
calculated by weight. Gross Weight, Net Weight,
Conditioned Weight, Theoretical Weight, Legal Weight and
Net Net Weight are the commonly adopted ways of
calculation. Sometimes , “Gross for net” is used for weight
calculation.
Calculated by weight
1）Gross weight :net weight plus tare(the weight of
packing), “gross for net” indicates the goods of little values.
2) net weight:gross weight minus tare , there are ways to
subtract tare, namely, to subtract the real tare,or actual tare,
77

To subtract the average tare,the customary tare and the
computed tare.
 3) conditioned weight(公量)
 4)theoretical weight
 5)legal weight and net net weight
 Since quantity terms may be ambiguous, careful definition
in sales contract is very important. The Metric System, U.S
System and International System of Units are generally
used in international trade nowadays. The implementation
and popularization of International System of Units
symbolizes the increasing internationalization and
standardization of measurement system. But confusion and
misunderstanding on quantity measures is still not
uncommon. An American Pound, for instance, is different
from a European pound; similarly, a ton has a different real
weight depending on whether it is a short ton, a metric ton,
78
or a long ton.









Units of calculation
Weight Units: kilogram\ton\metric
ton\quintal\gram\pound\ounce\long ton\short ton
Capacity Units:liter\gallon\bushel
Number Units:piece\package\pair\set\dozen\gross\great
gross\ream\roll\unit\head\case\bale\barrel\bag etc.
Length Units: yard\meter\foot\centimeter etc.
Area Units: square yard, square meter, square foot, square
inch.
Volume Units:cubic yards, cubic meter, cubic foot, cubic
inch etc.
More or less clause (plus or minus clause)
For example, “5000m/t, with 5% more or less at seller’s
option”, usually “at the seller’s option” is often used, but
when shipment is organized by buyer, “buyer’s option”is
79



Preferred. “at carrier’s option” is sometimes used when
charter transport is adopted, by this means, the capacity of
the ship is fully utilized.
Ⅳ.Packing
Proper packing can be extremely important depending on
the type of product and its destination. Ocean voyages may
be most damaging to the goods that are not properly
80






Packed. Goods subject to breakage have to be crated, and
those subject to moisture wrapped in plastic. Others may
require some special treatment or coating before shipment,
Still others have to be refrigerated while in transit. Actually,
packing not only serves as a form of protection, but also
facilitates loading, unloading and stowage, and prevents
pilferage(transport packing). Furthermore it can promote
sales.(selling packing)
There are different types of packing:
Bale: a heap of material pressed together and tied with
rope or metal wire, suitable for paper, wool, cotton, and
carpets,etc.
Bag: made of cotton, plastic, paper or jute, ideal for cement,
fertilizer, flour, chemicals,etc.
Barrel/Drum: made of wood, plastic or metal used for
liquid or greasy cargoes.
81






Box/Case: wooden in structure and various sizes, and some
are airtight, providing strong protection for cargoes as
equipment and car accessories.
Glass container: used for dangerous liquid cargoes such as
acids but needs careful handling.
Carton: now a very common form of packing particularly
for consumer-type of products. It also aids marketing as
words can be printed on them.
Crate/Skeleton case: wooden structure between a bale and
a case used for light weight goods of large cubic as
machinery.
Factors influencing types of cargo packing for
international consignments:
▲Packing should be designed according to the need of the
cargo. Bulk cargoes require little packing. General
merchandises require adequate packing of various types
82



Such as fruits in cartons, chemicals in bags and electrical
equipment in wooden cases. Besides, high value goods
normally require more expensive packing.
▲Factors in relation to transport such as the nature of
transit, loading and unloading facilities, and transport unit
should be considered. When containers are used, packing
can be less extensive. If cargoes are shipped by air, the
packing should be stronger. In ocean transport, cargoes
should be packed with even stronger means. The packing
should fit the facilities that are to be used at terminals. The
dimension and the weight limit may also influence the
shape , size and weight of the cargo packing.
▲Packing should be in compliance with customs or
statutory requirements. For example, in some countries,
straw is an unacceptable form of packing due to the risk of
insects. Wood should be suitably treated to kill any pests
inside.
83



▲Packing must meet insurance acceptance conditions.
Cargo that has a bad record in terms of damage or pilferage
may subject to the prescribed packing specifications or the
insurance company may refuse to cover them.
▲Packing should also be economical while being
sufficient.
▲Packing should making the handling as easy as possible.
Of equal importance is the marking of the packages
themselves. This is vital in order to make possible speedy
identification of the consignment and also to comply with
any regulations in fore with regard to hazardous or
dangerous cargo. Overseas territories also sometimes
enforce certain regulations pertaining to marking of export
cases. Equally, the marks should include wording or
symbols that will enable the personnel handling the cargo
to exercise any special care that may be required.
84

Basically , the golden rule is to keep shipping as simple as
possible as shown below:
U.F.P
397
No.1/6 UP
COPENHAGEN
U.F.P—initials of the importing /exporting company
397—customer’s order/contract number
1/6 UP—case No.1 of a consignment of 6 cases
COPENHAGEN—port of destination
85



Such marking would enable the ship owners and dockers
etc. to sort out the consignment and to link up the cases
with the bill of lading, thus enabling the customer or the
agent to effect prompt collection.
Of course , it is not always possible to keep the marking
simple. Sometimes , it is necessary to indicate the weight
or measure of the packages, the name of the vessel or the
origin of the goods. Where fragile goods are being
transported, it is sound practice to indicate this by marking
the cases “Fragile” or for bags of raw materials to bear the
notice “Use No Hooks”, or where appropriate for other
materials, “Keep Dry”.(indicative mark) On occasions, the
warning signs for any dangerous , explosive or corrosive
products should be given in the shipping marks.(warning
mark)
In international trade, packing is still an important
component of the Description of Goods, and a main
condition of the sales contract. In most cases, the parties 86






To a contract should know beforehand what packing is
needed. When drafting the stipulation of packing , the
specifications should be clear. Phrases as “Sea-Worthy
Packing” or “Customary Packing” should not be used as
their meanings are ambiguous. Sometimes, the party who
is to bear the packing charges should be specified. The
quantity or weight for each package is sometimes also
stipulated, for example, “cartons, 24 tins per carton”
Other Examples of Packing
Δ In wooden cases of 50 kilos net each
Δ In carton or crates of about 12kg net, each fruit wrapped
with paper.
Δ In cloth bales each containing 20 pcs. Of 42 yds.
Δ Each set packed in one export carton, each 810 cartons
transported in one 40ft container.
87
88
89


卖方错交约定货物被拒收案：
中国某公司曾向科威特出售一批冻北京鸭200箱，合同要求屠宰鸭
要按照伊斯兰教的用刀方法，其中具体规定：“需由伊斯兰协会
出具证明，证实鸭是按伊斯兰教方法用刀屠宰”。合同订立后，
卖方所交的北京冻鸭，在其颈部无任何刀口痕迹，这显然违反了
伊斯兰教的用刀方法。由于中方误将普通冻鸭装运出去，违反了
科威特买方的特定要求和说明，致使对方拒收货物，并要求退回
货款。中方为避免进一步扩大不良影响，及时同意了对方的要求，
以了结此事。
90


案情分析：
各国宗教信仰和消费者习惯不同，如伊斯兰教不吃猪肉，但吃牛、
羊、鸡、鸭等家禽，而且要按伊斯兰教方法屠宰，才能食用。销
往非伊斯兰教地区的冻鸭，一般要求完整、洁白、无毛，为此，
一般从鸭的口内进刀，以保持外体美观、完整，但此法对伊斯兰
教地区却不适用，他们传统的屠宰方法是在鸭的颈部动刀，而且
要求要由伊斯兰教长老动刀，动刀前还要念一段可兰经。由于我
们没有注意到这一点，发货时误将普通冻鸭装运出去，以至严重
违反合同，不仅造成经济损失，且对外造成不良的影响。
91
Chapter Five:International Trade Terms


I.Role of International Trade Terms
Trade terms, also called price terms or delivery terms,
are an important component of a unit price in
international trade, standing for specific obligations of
the buyer and seller. Every commercial transactions is
based upon a sales contract, and the trades terms used in
the contract have the important function of naming the
exact point at which the ownership of the merchandise
is transferred from the seller to the buyer. The trade
terms also define the responsibilities and expenses of
both the seller and the buyer . The use of the trade terms
greatly simplifies the contract negotiations, and thus saves
time and cost.
92






It should be stressed that the scope of trade terms is limited
to matters relating to rights and obligations of the parties
to the contract of sale with respect to the delivery of goods
sold( in the sense of “tangibles”, not including
“intangibles”such as computer software).
II.International Practices Relating to Trade Terms:
1.Warsaw-Oxford Rules 1932 W.O. 1932
2.Revised American Foreign Trade Definitions 1941(the
comparison with Incoterms will be made)
3.INCOTERMS 2000—International Rules for the
Interpretation of Trade Terms
Trade terms have been developed in practice over many
years to fit particular circumstances. However, as different
countries might have different interpretations of the terms,
misunderstandings occur frequently. To clear up the
confusion, the International Chamber of Commerce
(ICC)drew up a set of standard terms and definitions in 93
1936, which are called Incoterms 1936. They were revised


in 1953,1982,1990 and again 2000. The main reason for
successive revisions of Incoterms has been the need to
adapt them to contemporary commercial practice. Thus,in
the 1980 revision the term Free Carrier (now FCA)was
introduced in order to deal with the frequent case where
the reception point in maritime trade was no longer the
traditional FOB-point (passing of the ship’s rail) but a
point on land, prior to loading on board a vessel, where the
goods were stowed into a container for subsequent
transport by sea or by different means of transport in
combination( so-called combined or multi-modal transport).
Further , in the 1990 revision of Incoterms, the clauses
dealing with the seller’s obligation to provide proof of
delivery permitted a replacement of paper documentation
by EDI-messages provided the parties had agreed to
communicate electronically. Needless to say, efforts are
94





constantly made to improve upon the drafting and
presentation of Incoterms in order to facilitate their
practical implementation.
During the process of revision , which has taken about two
years, ICC has done its best to invite views and responses
to successive drafts from a wide ranging spectrum of world
traders, and serious efforts have been made to ensure that
the wording used in Incoterms 2000 clearly and accurately
reflects trade practice.Substantive changes have been made
in two areas:
The customs clearance and payment of duty obligations
under FAS and DEQ; and
The loading and unloading obligations under FCA
(Customs clearance does not only include the payment of duty and
other charges but also performance and payment of whatever
administrative matters are connected with the passing of the goods
through customs and the information to the authorities in this
connection.)
95


III. The Structure of Incoterms
In 1990, for ease of understanding , the terms were
grouped in four basically different categories; namely
starting with the term whereby only makes the goods
available to the buyer at the seller’s own premises (the
“E”-term Ex works); followed by the second group
whereby the seller is called upon to deliver the goods to a
carrier appointed by the buyer(the “F”-terms FCA, FAS
and FOB); continuing with the “C”-terms where the seller
has to contract for carriage, but without assuming the risk
of loss of or damage to the goods or additional costs due to
events occurring after shipment and dispatch(CFR, CIF,
CPT and CIP); and finally, the “D”-terms whereby the
seller has to bear all costs and risks needed to bring the
goods to the place of destination(DAF,DES,DEQ, DDU
and DDP). The following chart sets out this classification
of the trade terms
96

INCOTERMS 2000
Group E Departure
启运
EXW Ex Works (--- named place)
Group F
Main carriage unpaid
工厂交货
主运费未付
货交承运人
FCA Free Carrier (--- named place)
FAS Free Alongside Ship(--- named port of shipment) 船边交货
FOB Free On Board (---named port of shipment) 装运港船上交货
Group C Main carriage paid
主运费已付
CFR Cost and Freight
(--- named port of destination) 成本加运费
CIF Cost, Insurance and Freight
(--- named port of destination) 成本加保险费、运费
97
CPT Carriage Paid To
(--- named place of destination) 运费付至
CIP Carriage and Insurance Paid To
(--- named place of destination) 运费、保险费付至

Group D Arrival 到达
DAF
DES
DEQ
DDU
DDP
Delivered At Frontier (--- named place) 边境交货
Delivered Ex Ship (--- named port of destination) 目的港船上交货
Delivered Ex Quay (---named port of destination)目的港码头交货
Delivered Duty Unpaid (---named place of destination)未完税交货
Delivered Duty Paid (--- named place of destination)完税后交货
98
INCOTERMS 2000
类
别
E
组
F
组
运 输 保险 运
办理 办理 费
保
险
费
出关 出
清关 口
办理 税
进
口
税
买方 买方
买
方
买
方
买方
买
方
买
方
买方 买方
买
方
买
方
卖方
卖
方
买
方
买方 买方
买
方
买
方
卖方 卖方
装运港 在出口国装 货 越 海 运
买
船 上 交 运 港 指 定 的 过 船 内 河 买方 买方
方
货价
船上
舷
运输
买
方
卖方
国际
中
代码
文 交货地点
在出口国的
工厂交
EXW
卖方所在地
货价
工厂
在出口国指
货交承
FCA
定的交货地
运人价
点
装运港 在出口国指
FAS 船 边 交 定 装 运 港 码
货价
头的船边
FOB
风险
运输
划分
方式
界限
任 何
货交
运 输
买方
方式
货交 任 何
承运 运 输
人
方式
海 运
货交
内 河
船边
运输
卖
方
买
方
买
方
99
INCOTERMS 2000 continued
类
别
国际
中
代码
CFR
成本加运
费价
CIF
成本保险
费加运费
价
CPT
运 费 付
至…价
CIP
运费、保
险 费 付
至…价
C
组
文
运
运 输 输
交货地点
方式
办
理
在出口国
海 运
货越过
卖
装运港的
内 河
船舷
方
船上
运输
在出口国
海 运
货越过
卖
装运港的
内 河
船舷
方
船上
运输
在出口国
任 何
某一地点 货交承
卖
运 输
方
货 交 承 运 运人
方式
人
在出口国
任 何
某一地点 货交承
卖
运 输
方
货 交 承 运 运人
方式
人
风险
划分
界限
保
险
办
理
运
费
保
险
费
出关 出
清关 口
办理 税
进
口
税
买
方
卖
方
买
方
卖方
卖
方
买
方
卖
方
卖
方
卖
方
卖方
卖
方
买
方
买
方
卖
方
买
方
卖方
卖
方
买
方
卖
方
卖
方
卖
方
卖方
卖
方
买
方
100
INCOTERMS 2000 continued
类
别
国际
代码
中
DAF
边境交
货价
DES
目的港
船上交
货价
DEQ
目的港
码头交
货价
DDU
未完税
交货价
DDP
完税后
交货价
文
D
组
风险
交 货 地
划分
点
界限
在 边 境
指定地点
指 定 交
货交买方
货地
在 进 口
指定目的
国 指 定
港的船上
目 的 港
货交买方
的船上
在 进 口
指定目的
国 指 定
港码头货
目 的 港
交买方
的码头
在 进 口
指定地点
国 指 定
货交买方
目的地
在 进 口
指定地点
国 指 定
货交买方
目的地
运输
办理
保险
办理
运
费
保
险
费
出 关 出
清 关 口
办理 税
进
口
税
任何运
卖方
输方式
卖方
卖
方
卖
方
卖方
卖
方
买
方
海运内
卖方
河运输
卖方
卖
方
卖
方
卖方
卖
方
买
方
海运内
卖方
河运输
卖方
卖
方
卖
方
卖方
卖
方
买
方
任何运
卖方
输方式
卖方
卖
方
卖
方
卖方
卖
方
买
方
任何运
卖方
输方式
卖方
卖
方
卖
方
卖方
卖
方
卖
方
运输
方式
101
ⅳ.The Terms
The “E”-term is the term in which the seller’s obligation is
at its minimum: the seller has to do no more than place the
goods at the disposal of the buyer at the agreed place usually
at the seller’s own premises. On the other hand, as a matter of
practical reality, the seller would frequently assist the buyer
in loading the goods on the latter’s collecting vehicle.
Although EXW would better reflect this if the seller’s
obligations were to be extended so as to include loading, it
was thought desirable to retain the traditional principle of the
seller’s minimum obligation under EXW so that it could be
used for cases where the seller does not wish to assume any
obligation whatsoever with respect to the loading of the goods.
If the buyer wants the seller to do more, this should be made
clear in the contract of sale.
102

The “F”-terms require the seller to deliver the goods for
carriage as instructed by the buyer. The point at which the
parties intend delivery to occur in the FCA term has caused
difficulty because of the wide variety of circumstances
which may surround contracts covered by this term. Thus ,
the goods may be loaded on a collecting vehicle sent by the
buyer to pick them up at the seller’s premises; alternatively,
the goods may need to be unloaded from a vehicle sent by
the seller to deliver the goods at a terminal named by the
buyer. Incoterms 2000 take account of these alternatives by
103



stipulating that , when the place named in the contract as
the place of delivery is the seller’s premises, delivery is
complete when the goods are loaded on the buyer’s
collecting vehicle and , in other cases, delivery is complete
when the goods are placed at the disposal of the buyer not
unloaded from the seller’s vehicle.
There is an important change of FAS relating to the
obligation to clear the goods for export, since it appears
to be the most common practice to put this duty on the
seller rather than on the buyer.
The “C”-terms require the seller to contract for carriage
on usual terms at his own expense. Therefore, a point up to
which he would have to pay transport costs must be
necessarily indicated after the respective “C”-term. Under
the CIF and CIP terms the seller also has to take out
insurance and bear the insurance cost. Since the point for
104


the division of costs is fixed at a point in the country of
destination, the “C”-terms are frequently mistakenly
believed to be arrival contracts, in which the seller would
bear all risks and costs until the goods have actually
arrived at the agreed point. However, it must be stressed
that the “C”-terms are of the same nature as the “F”terms in that the seller fulfills the contract in the country of
shipment or dispatch. Thus , the contracts of sale under the
“C”-terms, like the contracts under the “F”-terms, fall
within the category of shipment contracts.
It is in the nature of shipment contracts that , while the
seller is bound to pay the normal transport cost of the
carriage of the goods by a usual route and in a customary
manner to the agreed place, the risk of loss of or damage to
the goods , as well as additional costs resulting from events
occurring after the goods having been appropriately
delivered for carriage, fall upon the buyer. Hence, the “C”105

Terms are distinguishable from all other terms in that they
contain two “critical”points, one indicating the point to
which the seller is bound to arrange and bear the costs of
carriage and another one for the allocation of risk.
 The “D”-terms are different in nature from the “C”-terms,
since the seller according to the “D”-terms is responsible
for the arrival of the goods at the agreed place or point of
destination at the border or within the country of import.
The seller must bear all risks and costs in bringing the
goods thereto. Hence, the “D”-terms signify arrival
contracts, while the “C”-terms evidence departure
(shipment)contracts.
 Under the “D”-terms except DDP the seller does not have
to deliver the goods cleared for import in the country of
destination.
106

ⅴ.Detailed Study of the Six Most Commonly Used Trade
Terms
 1.FOB : FREE ON BOARD(--- named port of shipment)
 “Free on Board”means that the seller delivers when the
goods pass the ship’s rail at the named port of shipment.
This means that the buyer has to bear all costs and risks of
loss of or damage to the goods from that point. The FOB
term requires the seller to clear the goods for export . This
term be used only for sea or inland waterway transport. If
the parties do not intend to deliver the goods across the
ship’s rail , the FCA term should be used.
 The seller’s obligations:
 ▲Provision of goods in conformity with the contract

The seller must provide the goods and the commercial
invoice, or its equivalent electronic message, in conformity
107

with the contract of sale and any other evidence of
conformity which may required by the contract.
 ▲Licenses, authorization and formalities

The seller must obtain at his own risk and expense any
export licenses or other official authorization and carry
out ,where applicable, all customs formalities necessary for
the export of the goods.
 ▲Delivery

The seller must deliver the goods on the date or within
the agreed period at the named port of shipment and in the
manner customary at the port on board the vessel
nominated by the buyer.
 ▲Transfer of risks

The seller must bear all risks of loss of or damage to the
goods until such time as they have passed the ship’s rail
108

at the named port of shipment.
 ▲Division of Costs

The seller must pay all costs relating to the goods until
such time as they have passed the ship’s rail at the named
port of shipment;and the costs of customs formalities
necessary for export as well as all duties , taxes and other
charges payable upon export.
 ▲Notice to the buyer

The seller must give the buyer sufficient notice that the
goods have been delivered.
 ▲Proof of delivery , transport document or equivalent
electronic message

The seller must provide the buyer at the seller’s expense
with the usual proof of delivery .
109
The seller must render the buyer , at the latter’s request,
risk and expense , every assistance in obtaining a transport
document for the contract of carriage ( for example, a
negotiable bill of lading, a non-negotiable sea waybill, an
inland waterway document, or a multi-modal transport
document).
 ▲Checking-packaging-marking

The seller must pay the costs of those checking
operations which are necessary for the purpose of
delivering the goods . The seller must provide at his own
expense packaging (unless it is usual for the particular
trade to ship the goods of the contract description
unpacked) which is required for the transport of the goods ,
to the extent that the circumstances relating to the transport
(for example modalities, destination) are known to the
seller before the contract of sale is concluded. Packaging is
110
to be marked appropriately.

The Buyer’s Obligations
 ▲Payment of the price

The buyer must pay the price as provided in the contract
of sale.
▲ Licenses, authorization and formalities
The buyer must obtain at his own risk and expense any
import license or other official authorization and carry out
all customs formalities for the import of the goods and
where necessary , for their transit through any country.
▲Contracts of carriage and insurance
The buyer must contract at his own expense for the
carriage of the goods from the named port of shipment

111
▲Delivery

The buyer must take delivery of the goods when they
have been delivered .
 ▲Transfer of risks

The buyer must bear all risks of loss or damage to the
goods from the time they have passed the ship’s rail at the
named port of shipment.
 ▲Division of costs

The buyer must pay all costs relating to the goods from
the time they have passed the ship’s rail at the named port
of shipment; and any additional costs incurred, either
because the vessel nominated by him fails to arrive on
time, or is unable to take the goods etc; all duties , taxes
and other charges as well as the costs of carrying out
customs formalities payable upon import of the goods
and for their
112









transit through any country.
▲Notice to the seller
The buyer must give the seller sufficient notice of the
vessel name, loading point and required delivery time.
▲Inspection of goods
The buyer must pay the costs of any pre-shipment
inspection except when such inspection is mandated by the
authorities of the country of export.
As the loading of the goods is a continuous process,
sometimes it is hard to use the ship’s rail as a point to
divide responsibilities and costs. To avoid dispute, there
are several derived terms:
FOB Liner Terms(FOB 班轮条件）
It means that the ship will be responsible for loading and
113

unloading and the seller does not have to pay loading
expense.
 FOB Under Tackle(FOB吊钩下交货）
 This term only requires the seller to send and place the
goods on the wharf within the reach of the ship’s tackle.
Loading expenses incurred thereafter will be borne by the
buyer.
 FOB Stowed(FOB含理舱费）
 Under this term, the seller loads the goods into the ship’s
hold and pays the loading expenses including stowing
expenses.
 FOB Trimmed (FOB含平舱费）
 The seller pays all the loading expenses including
trimming expenses(which actually also includes stowing
expense).
114




FOB in “Revised American Foreign Trade Definitions
1941”
FOB (named inland carrier at named inland point of
departure) “在指定内陆发货地点的指定内陆运输工具
上交货”
FOB(named inland carrier at named inland point of
departure)freight paid to (named point of exportation) “在
指定内陆发货地点的指定内陆运输工具上交货，运费
预付到指定的出口地点”
FOB(named inland carrier at named inland point of
departure)freight allowed to (named point) “在指定内陆
发货地点的指定内陆运输工具上交货，减除至指定地
点的运费）
115




FOB(named inland carrier at named point of exportation)
“在指定出口地点的指定内陆运输工具上交货”
FOB Vessel (named port of shipment) “船上交货（指定
装运港）”
FOB(named inland point in country of importation) “在指
定进口国内陆地点交货”
Only FOB Vessel is similar to the FOB in Incoterms,
however, the costs of customs formalities necessary for
export as well as all duties , taxes and other charges
payable upon export should be borne by the buyer in FOB
Vessel.
116





CIF
Cost ,Insurance and Freight (--- named port of destination)
“Cost , Insurance and Freight”means that the seller delivers
when the goods pass the ship’s rail in the port of shipment.
The seller must pay the costs and freight necessary to bring
the goods to the named port of destination BUT the risk of
loss or damage to the goods , as well as any additional
costs due to events occurring after the time of delivery, are
transferred from the seller to the buyer. However, in CIF
the seller also has to procure marine insurance against the
buyer’s risk of loss of or damage to the goods during the
carriage.
Consequently, the seller contracts for insurance and pays
insurance premium. The buyer should note that under the
CIF term the seller is required to obtain insurance only on
minimum cover. Should the buyer wish to have the
protection of greater cover, he would either need to agree 117

as such expressly with the seller or to make his own extra
insurance arrangements.
 The CIF term requires the seller to clear the goods for
export. This term can be used only for sea and inland
waterway transport. If the parties do not intend to deliver
the goods across the ship’s rail , the CIP should be used
 . The seller’s obligations:
 ▲Provision of goods in conformity with the contract

The seller must provide the goods and the commercial
invoice, or its equivalent electronic message, in conformity
with the contract of sale and any other evidence of
conformity which may be required by the contract.
 ▲Licenses, authorization and formalities

The seller must obtain at his own risk and expense any
export licenses or other official authorization and carry
out ,where applicable, all customs formalities necessary for
118
the export of the goods.





▲Contracts of carriage and insurance
A)Contract of carriage
The seller must contract on usual terms at his own expense
for the carriage of the goods to the named port of
destination by the usual route in a seagoing vessel( or
inland waterway vessel as the case may be) of the type
normally used for the transport of goods of the contract
description.(买方无权提出关于船只限制的要求)
B)Contract of insurance
The seller must obtain at his own expense cargo insurance
as agreed in the contract, such that the buyer , or any other
person having an insurable interest in the goods , shall be
entitled to claim directly from the insurer and provide the
buyer with the insurance policy or other evidence of
insurance cover.
119

The insurance shall be contracted with underwriters or
insurance company of good repute and , failing express
agreement to the contrary, be in accordance with minimum
cover of the Institute Cargo Clause(协会货物保险条款)
(Institute of London Underwriters) or any similar set of
clauses. When required by the buyer, the seller shall
provide at the buyer’s expense war, strikes, riots and civil
commotion risk insurance if procurable. The minimum
insurance shall cover the price provided in the contract
plus ten per cent and shall be provided in the currency of
the contract.
 ▲Delivery

The seller must deliver the goods on board the vessel at
the port of shipment on the date or within the agreed period.
 ▲Transfer of risks
 The seller must bear all risks of loss of or damage to the
120
goods until such time as they have passed the ship’s rail





at the port of shipment.
▲Division of costs
The seller must pay all costs relating to the goods until
such time as they have been delivered, and the freight and
all other including the costs of loading the goods on board;
and the costs of insurance and any charges for unloading at
the agreed port of discharge which were for the seller’s
account under the contract of carriage; and where
applicable, the costs of customs formalities necessary for
export as well as all duties , taxes and other charges
payable upon export , and for their transit through any
country if they were for the seller’s account under the
contract of carriage.
▲Notice to the buyer
The seller must give the buyer sufficient notice that the
goods have been delivered as well as any other notice
required in order to allow the buyer to take measures
121

which are normally necessary to enable him to take the
goods.
 ▲ Proof of delivery , transport document or equivalent
electronic message
 The seller must , at his own expense, provide the buyer
without delay with the usual transport document for the
agreed port of destination.
 This document( for example a negotiable bill of lading, a
non-negotiable sea waybill or inland waterway document)
must cover the contract goods, be dated within the period
agreed for shipment, enable the buyer to claim the goods
from the carrier at the port of destination and , unless
otherwise agreed, enable the buyer to sell the goods in
transit by the transfer of the document to a subsequent
buyer( the negotiable bill of lading) or by notification to
the carrier.
122



When such a transport document is used in several
originals, a full set of originals must be presented to the
buyer. Where the seller and the buyer have agreed to
communicate electronically, the document referred to in
the preceding paragraphs may be replaced by an EDI
message.
▲Checking-packaging-marking
The seller must pay the costs of those checking
operations which are necessary for the purpose of
delivering the goods . The seller must provide at his own
expense packaging (unless it is usual for the particular
trade to ship the goods of the contract description
unpacked) which is required for the transport of the goods.
Packaging is to be marked appropriately.
123









The Buyer’s Obligations
▲Payment of price
The buyer must pay the price as provided in the contract.
▲Licenses , authorizations and formalities
The buyer must obtain at his own risk and expense any
import license or other official authorization and carry out ,
where applicable, all customs formalities necessary for the
import of the goods and for their transit through any
country.
▲Taking delivery
The buyer must accept the delivery of the goods when they
have been delivered and receive them from the carrier at
the named port of destination.
▲Transfer of risks
The buyer must bear all risks of loss of or damage to the
124
goods from the time they have passed the ship’s rail at the
port of shipment.
 ▲Division of costs
 The buyer must pay all costs relating to the goods from the
time they have been delivered and all costs and charges
relating to the goods while in transit until their arrival at
the port of destination, unless such costs and charges were
for the seller’s account under the contract of carriage and
unloading costs including lighter age and wharf age
charges, unless such costs and charges were for the seller’s
account under the contract of carriage and all additional
costs

125




incurred if he fails to give notice for the goods from the
agreed date or the expiry date of the period fixed for
shipment, provided , however, that the goods have been
duly appropriated to the contract , that is to say, clearly set
aside or otherwise identified as the contract goods and
where applicable , all duties , taxes and other charges as
well as the costs of carrying out customs formalities
payable upon import of the goods and, where necessary,
for their transit through any country unless included within
the costs of the contract of carriage.
▲Notice to the seller
The buyer must, whenever he is entitled to determine the
time for shipping the goods and/or the port of destination,
give the seller sufficient notice thereof.
▲Proof of delivery, transport document or equivalent
electronic message
126



The buyer must accept the transport document .
▲Inspection of goods
The buyer must pay all the costs of any pre-shipment
inspection except when such inspection is mandated by the
authorities of the country of export.
127




CFR
Cost and freight (--- named port of destination)
“Cost and freight” means that the seller delivers when the
goods pass the sip’s rail in the port of shipment. The seller
must pay the costs and freight necessary to bring the goods
to the named port of destination but the risk of loss of or
damage to the goods , as well as any additional costs due
to events occurring after the time of delivery , are
transferred from the seller to the buyer. The CFR term
requires the seller to clear the goods for export. This term
can be used only for sea and inland waterway transport . If
the parties do not intend to deliver the goods across the
ship’s rail, the CPT term should be used.
The seller’s obligations:
▲The seller must provide the goods and the commercial
invoice, or its equivalent electronic message, in conformity
128





with the contract of sale and any other evidence of
conformity which may be required by the contract.
▲The seller must obtain at his his own risk and expense
any export licenses or other official authorization and carry
out ,where applicable, all customs formalities necessary for
the export of the goods.
▲The seller must contract on usual terms at his own
expense for the carriage of the goods to the named port of
destination by the usual route in a seagoing ( or inland
waterway vessel as the case may be) of the type normally
used for the transport of goods of the contract description.
▲The seller must deliver the goods on board the vessel at
the port of shipment on the date or within the agreed period.
▲The seller must bear all risks of loss of or damage to the
goods until such time as they have passed the ship’s rail at
the port of shipment.
129



▲The seller must pay all costs relating to the goods until
such time as they have been delivered and the freight and
all other costs , including the costs of loading the goods on
board and any charges for unloading at the agreed port of
discharge which were for the seller’s account under the
contract of carriage ; and , where applicable, the costs of
customs formalities necessary for export as well as all
duties , taxes and other charges payable upon export, and
for their transit through any country if they were for the
seller’s account under the contract of carriage.
▲The seller must give the buyer sufficient notice that the
goods have been delivered as well as any other notice
required in order to allow the buyer to take measures
which are normally necessary to enable him take the goods.
▲The seller must at his own expense provide the buyer
without delay with the usual transport document for the
130
agreed port of destination.
▲The seller must pay the costs of those checking
operations (such as checking quality, measuring, weighing,
counting)which are necessary for the purpose of delivering
the goods. The seller must provide at his own expense
packaging (unless it is usual for the particular trade to ship
the contract description unpacked) which is required for
the transport of the goods arranged by him. Packaging is to
be marked appropriately.
 The buyer’s obligations
 ▲The buyer must pay the price as provided in the contract
of sale.
 ▲The buyer must obtain at his own risk and expense any
import license or other official authorization and carry
out ,where applicable , all customs formalities for the
import of the goods and for their transit through any
country.

131
▲The buyer must accept delivery of the goods when they
have been delivered and receive them from the carrier at
the named port of destination.
 ▲The buyer must bear all risks of loss of or damage to the
goods from the time they have passed the ship’s rail at the
port of shipment. The buyer must , should he fail to give
notice, bear all risks of loss of or damage to the goods
from the agreed date or the expiry date of the period fixed
for the shipment provided, however, that the goods have
been duly appropriated to the contract, that is to say,
clearly set aside or otherwise identified as the contract
goods.
 ▲The buyer must pay all costs relating to the goods from
the time they have been delivered and all costs and charges
relating to the goods while in transit until their arrival at
the port of destination, unless such costs and charges were
for the seller’s account under the contract of carriage ; and132


unloading costs including lighter age and wharf age
charges, unless such costs and charges were for the seller’s
account under the contract of carriage and all additional
costs incurred if he fails to give notice , for the goods from
the agreed date or the expiry date of the period fixed for
shipment, provided, however , that the goods have been
duly appropriated to the contract, that is to say , clearly set
aside or otherwise identified as the contract goods; and
where applicable , all duties, taxes and other charges as
well as the costs of carrying out customs formalities
payable upon import of the goods and , where necessary ,
for their transit through any country unless included within
the cost of the contract of carriage.
 ▲The buyer must, whenever he is entitled to determine the
time for shipping the goods and/or the port of destination,
give the seller sufficient notice thereof.
133
▲The buyer must accept the transport document if it is in
conformity with the contract.
 ▲The buyer must pay the costs of any pre-shipment
inspection except when such inspection is mandated by the
authorities of the country of export.
 FCA
 Free Carrier (--- named place)
 “Free Carrier” means that the seller delivers the goods ,
cleared for export, to the carrier nominated by the buyer at
the named place. It should be noted that the chosen place
of delivery has an impact on the obligations of loading and
unloading the goods at the place. If delivery occurs at the
seller’s premises, the seller is responsible for loading. If
delivery occurs at any other place, the seller is not
responsible for unloading. This term may be used
irrespective of the mode of transport, including multi134
modal transport.






“Carrier”means any person who, in a contract of carriage,
undertakes to perform or to procure the performance of
transport by rail , road, air, sea, inland waterway or by a
combination of such modes.
If the buyer nominates a person other than a carrier to
receive the goods , the seller is deemed to have fulfilled his
obligation to deliver the goods when they are delivered to
that person.
The seller’s obligations
▲The seller must provide the goods and the commercial
invoice , or it s equivalent electronic message, in
conformity with the contract of sale and any other evidence
of conformity which may be required by the contract.
▲The seller must obtain at his own risk and expense any
export license or other official authorization and carry out ,
where applicable, all customs formalities necessary for the
135





export of the goods.
▲No obligation for carriage,however, if requested by the
buyer or if it is commercial practice and the buyer does not
give an instruction to the contrary in due time, the seller
may contract for carriage on usual terms at the buyer’s risk
and expense. In either case , the seller may decline to make
the contract and , if he does, shall promptly notify the
buyer accordingly.
▲The seller must deliver the goods to the carrier or
another person nominated by the buyer, or chosen by the
seller at the named place on the date or within the period
agreed for delivery.
Delivery is completed
A)If the named place is the seller’s premises, when the
goods have been loaded on the means of transport
provided by the carrier nominated by the buyer or another
person acting on his behalf.
136




B)If the named place is anywhere other than A), when the
goods are placed at the disposal of the carrier or another
person nominated by the buyer , or chosen by the seller on
the seller’s means of transport not unloaded.
If no specific point has been agreed within the named place,
and if there are several points available , the seller may
select the point at the place of delivery which best suits his
purpose. Failing precise instruction from the buyer, the
seller may deliver the goods for carriage in such a manner
as the transport mode and/or the quantity and/or nature of
the goods may require.
▲The seller must bear all risks of loss of or damage to the
goods until such time as they have been delivered .
▲The seller must pay all costs relating to the goods until
such time as they have been delivered and where
applicable, the costs of customs formalities as well as all
137



duties,taxes , and other charges payable upon export.
▲The seller must give the buyer sufficient notice that the
goods have been delivered . Should the carrier fail to take
delivery at the time agreed, the seller must notify the buyer
accordingly.
▲The seller must provide the buyer at the seller’s expense
with the usual proof of delivery of the goods . Unless the
document referred to in the preceding paragraph is the
transport document, the seller must render the buyer at the
latter’s request , risk and expense, every assistance in
obtaining a transport document for the contract of
carriage.When the seller and the buyer have agreed to
communicate electronically, the document referred to in
the preceding paragraph may be replaced by an equivalent
electronic data interchange(EDI) message.
138




▲The seller must pay the costs of those checking
operations(such as checking quality, measuring,
weighing,counting) which are necessary for the purpose of
delivering the goods. The seller must provide at his own
expense packaging (unless it is usual for the particular
trade to send the goods of the contract description
unpacked) which is required for the transport ( for example
modalities , destination) are made known to the seller
before the contract of sale is concluded. Packaging is to be
marked appropriately.
The buyer’s obligations
▲The buyer must pay the price as provided in the contract
of sale.
▲The buyer must obtain at his own risk and expense any
import license or other official authorization and carry out ,
where applicable, all customs formalities for the import of139

of the goods and for their transit through any country.
 ▲The buyer must contract at his own expense for the
carriage of the goods from the named place.
 ▲The buyer must take delivery of the goods when they
have been delivered.
 ▲The buyer must bear all risks of loss of or damage to the
goods from the time they have been delivered and from
the agreed date or the expiry date of any agreed period for
delivery which arise either because he fails to nominate the
carrier or another person , or because the carrier or the
party nominated by the buyer fails to take the goods into
his charge at the agreed time.
 ▲The buyer must pay all costs relating to the goods from
the time they have been delivered and any additional costs
incurred , either because he fails to nominate the carrier or
another person or because the party nominated by the
buyer fails to take the goods into his charge at the agreed 140




And where applicable , all duties ,taxes and other charges
as well as the costs of carrying out customs formalities
payable upon import of the goods and for their transit
through any country.
▲The buyer must give the seller sufficient notice of the
name of the party designated and , where necessary ,
specify the mode of transport, as well as the date or period
for delivering the goods to him and , as the case may be,
the point within the place where the goods should be
delivered to that party.
▲The buyer must accept the proof of delivery .
▲The buyer must pay the costs of any pre-shipment
inspection except when such inspection is mandated by the
authorities of the country of export.
141

CIP
 Carriage and Insurance Paid to (--- named place of
destination)
 CIP means that the seller delivers the goods to the carrier
nominated by him but the seller must in addition pay the
costs of carriage necessary to bring the goods to the named
destination. This means that the buyer bears all risks and
any additional costs occurring after the goods have been so
delivered. However,in CIP the seller also has to procure
insurance against the buyer’s risk of loss of or damage to
the goods during the carriage.
 Consequently, the seller contracts for insurance and pays
the insurance premium.
 The buyer should note that under the CIP term the seller is
required to obtain insurance only on minimum cover.
Should the buyer wish to have the protection of greater
cover, he would either need to agree as much expressly 142





with the seller or to make his own extra insurance
arrangements.
The seller’s obligations:
▲Provision of goods in conformity with the contract
▲The seller must obtain at his own risk and expense any
export license or other official authorization and carry out ,
where applicable , all customs formalities necessary for the
export of the goods.
▲The seller must contract on usual terms at his own
expense for the carriage of the goods to the agreed point at
the named place of destination by a usual route and a
customary manner. If a point is not agreed or not
determined by practice, the seller may select the point at
the named place of destination which best suits his purpose.
143

▲The seller must obtain at his own expense cargo
insurance as agreed in the contract, such that the buyer, or
any other person having an insurable interest in the goods ,
shall be entitled to claim directly from the insurer and
provide the buyer with the insurance policy or other
evidence of insurance cover. The insurance shall be
contracted with underwriters or an insurance company of
good repute , failing express agreement to the contrary, be
in accordance with minimum cover of the Institute Cargo
Clause (Institute of London Underwriters) or any similar
set of clauses.When required by the buyer, the seller shall
provide at the buyer’s expense war, strikes, riots and civil
commotion risk insurances if procurable. The minimum
insurance shall cover the price provided in the contract
plus ten per cent and shall be provided in the currency if
the contract.
144



▲The seller must deliver the goods to the carrier
contracted, if there are subsequent carriers to the first
carrier, for transport to the agreed point at the named place
on the date or within the agreed period.
▲The seller must bear all risks of loss of or damage to the
goods until such time as they have been delivered.
▲The seller must pay all costs until such time as they have
been delivered as well as the freight and all other costs,
including the costs of loading the goods and any charges
for unloading at the place of destination which were for the
seller’s account under the contract of carriage and the costs
of insurance and where applicable , the costs of customs
formalities necessary for export as well as all duties , taxes
or other charges payable upon export , and for their transit
through any country if they were for the seller’s account
under the contract of carriage.
145



▲The seller must give the buyer sufficient notice that the
goods have been delivered as well as any other notice
required in order to allow the buyer to take measures
which are normally necessary to enable him to take the
goods.
▲The seller must provide the buyer at the seller’s expense ,
if customary , with the usual transport document or
documents for the transport contracted. Where the seller
and the buyer have agreed to communicate electronically,
the document referred to may be replaced by an equivalent
electronic data interchange message.
▲The seller must pay the costs of those checking
operations which are necessary for the purpose of
delivering the goods . The seller must provide at his own
expense packaging which is required for the transport of
the goods arranged by him. Packaging is to be marked
appropriately.
146
The buyer’s obligations
 ▲The buyer must pay the price as provided in the contract
of sale.
 ▲The buyer must obtain at his own risk and expense any
import license or other official authorization and carry out ,
where applicable, all customs formalities for the import of
the goods and for their transit through any country.
 ▲The buyer must accept the delivery of the goods when
they have been delivered and receive them from the carrier
at the named place.
 ▲The buyer must bear all risks of loss of or damage to the
goods from the time they have been delivered.
 ▲The buyer must pay all costs relating to the goods whilst
in transit until their arrival at the agreed place of
destination, unless such costs and charges were for the
seller’s account under the the contract of carriage;and

147

unloading costs unless such costs and charges were for the
seller’s account under the contract of carriage and all
additional costs incurred if he fails to give notice ; and
where applicable, all duties , taxes and other charges as
well as the costs of carrying out customs formalities
payable upon import of the goods and for their transit
through any country unless included within the cost of the
contract of carriage.
 ▲The buyer must , whenever he is entitled to determine
the time for dispatching the goods and/or the destination ,
give the seller sufficient notice thereof.
 ▲The buyer must pay the costs of any pre-shipment
inspection except when such inspection is mandated by the
authorities of the country of export.
148






CPT
Carriage Paid To (--- named place of destination)
CPT means that the seller delivers the goods to the carrier
nominated by him but the seller must in addition pay the
cost of carriage necessary to bring the goods to the named
destination. This means that the buyer bears all risks and
any other costs occurring after the goods have been so
delivered. The CPT term requires the seller to clear the
goods for export. This term may be used irrespective of the
mode of transport including multi-modal transport.
The seller’s obligations
▲Provision of goods in conformity with the contract
▲Licenses, authorizations and formalities
▲Contracts of carriage and insurance
149






The seller must contract on usual terms at his own expense
for the carriage of the goods to the agreed point at the
named place of destination by a usual route and in a
customary manner. If a point is not agreed or is not
determined by practice, the seller may select the point at
the named place of destination which best suits his purpose.
▲The seller must deliver the goods to the carrier
contracted, if there are subsequent carriers to the first
carrier, for transport to the agreed point at the named place
on the date or within the agreed period.
▲The seller must bear all risks of loss of or damage to the
goods until such time as they have been delivered.
▲Division of costs
CIP-Insurance
▲Notice to the buyer
150
▲Proof of delivery, transport document or equivalent
electronic message
 ▲Checking-packaging-marking
 The buyer’s obligations
 ▲Payment of the price
 ▲Licenses, authorizations and formalities
 ▲Contracts for insurance
 ▲Taking delivery
 ▲Transfer of risks
 ▲Division of costs
 ▲Notice to the seller
 ▲Proof of delivery, transport document or equivalent
electronic message
 ▲Inspection of the goods.

151









Summarized as follows:
CFR=FOB+F CIF=CFR+I=FOB+I+F 风险转移点：船舷
CPT=FCA+F CIP=CPT+I=FCA+F+I 风险转移点：货交承运人
Discussion Questions
What is the difference between a low-context culture and a highcontext culture? Give an example of a country that is an example of
each type, and provide evidence for your answer.
Briefly describe various combinations of product/communication
strategies available to global marketers. When is it appropriate to use
each?
What are the major differences among the six most commonly used
trade terms?
美方A从英方B进口一批货物,签定合同所使用的贸易术语为
“FOB里斯本”.后因葡萄牙政府拒绝签发出口许可证而未能交货,
请问根据《2000年通则》，责任应由谁承担。
假如英从美方进口一批货物，签定合同所使用的贸易术语为
“FOB VESSEL 里斯本”，因葡萄牙政府不签发出口许可证而未
能交货，请问责任由谁来承担？
152

Brief Introduction to the Rest 7 Terms
 EXW
 EX Works (--- named place)
 This term means that the seller delivers when he places the
goods at the disposal of the buyer at the seller’s premises
or another named place(i. e . Works, factory, warehouse,
etc.) not cleared for export and not loaded on any
collecting vehicle.
 This term thus represents the minimum obligation for the
seller, and the buyer has to bear all costs and risks involved
in taking the goods from the seller’s premises.
 However , if the parties wish the seller to be responsible
for the loading of the goods on departure and to bear the
risks and all the costs of such loading , this should be made
clear by adding explicit wording to this effect in the
contract of sale. This term should not be used when the
buyer cannot carry out the export formalities directly or 153







indirectly. In such circumstances, the FCA term should be
used, provided that the seller agrees that he will load at his
cost and risk.
FAS
Free Alongside Ship(--- named port of shipment)
This term means that the seller delivers when the goods are
placed alongside the vessel at the named port of shipment.
This means that the buyer has to bear all costs and risks of
loss of or damage to the goods from that moment.
The FAS term requires the seller to clear the goods for
export.
However , if the parties wish the buyer to clear the goods
for export, this should be made clear by adding explicit
wording to this effect in the contract of sale.
This term can be used only for sea or inland waterway
transport.
154




DAF
Delivered at Frontier (--- named place)
This term means that the seller delivers when the goods are
placed at the disposal of the buyer on the arriving means of
transport at the named point and place at the frontier, but
before the customs border of the adjoining country. The
term “frontier” may be used for any frontier including that
of the country of export. Therefore , it is of vital
importance that the frontier in question be defined
precisely by always naming the point and place in the
term.However, if the parties wish the seller to be
responsible for the unloading of the goods from the
arriving means of transport and to bear the risks and costs
of unloading, this should be made clear by adding explicit
wording to this effect in the contract of sale.
This term should be used irrespective of the mode of
155





transport when goods are to be delivered at a land frontier.
When delivery is to take place in the port of destination, on
board a vessel or on the quay, the DES or DEQ terms
should be used.
DES
Delivered Ex Ship(--- named port of destination)
This term means that the seller delivers when the goods are
placed at the disposal of the buyer on board the ship not
cleared for import at the named port of destination. The
seller has to bear all the costs and risks involved in
bringing the goods to the named port of destination before
discharging. If the parties wish the seller to bear all the
costs and risks of discharging the goods , the DEQ term
should be used.
This term can be used only when the goods are to be
delivered by sea or inland waterway or multi-modal
transport on a vessel in the port of destination.
156





DEQ
Delivered Ex Quay(--- named port of destination)
This term means that the seller delivers when the goods are
placed at the disposal of the buyer not cleared for import
on the quay at the named port of destination. The seller has
to bear costs and risks involved in bringing the goods to
the named port of destination and discharging the goods on
the quay. The DEQ term requires the buyer to clear the
goods for import and to pay for all formalities, duties ,
taxes and other charges upon import.
This is a reversal from previous INCOTERMS version
which required the seller to arrange for import clearance.
If the parties wish to include in the seller’s obligations all
or part of the costs payable upon import of the goods , this
should be made clear by adding explicit wording to this
effect in the contract of sale.
157




This term can be used only when the goods are to be
delivered by sea or inland waterway or multi-modal
transport on discharging from a vessel onto the quay in the
port of destination. However, if the parties wish to include
in the seller’s obligations the risks and costs of the
handling of the goods from the quay to another
place( warehouse, terminal, transport station, etc.) in or
outside the port, the DDU or DDP terms should be used.
DDU
Delivered Duty Unpaid( ---named place of destination)
This term means that the seller delivers the goods to the
buyer, not cleared for import, and not unloaded from any
arriving means of transport at the named place of
destination. The seller has to bear the costs and risks
involved in bringing the goods thereto, other than ,where
applicable, any “duty” “which term includes the
158


responsibility for and the risks of the carrying out of
customs formalities, and the payment of formalities,
customs duties, taxes and other charges) for import in the
country of destination. Such “duty” has to be borne by the
buyer as well as any costs and risks caused by his failure to
clear the goods for import in time. However , if the parties
wish the seller to carry out customs formalities and bear
the costs and risks resulting therefrom as well as some of
the costs payable upon import of the goods , this should be
made clear by adding explicit wording to this effect in the
contract of sale.
This term may be used irrespective of the mode of
transport but when delivery is to take place in the port of
destination on board the vessel or on the quay, the DES or
DEQ terms should be used.
159

DDP
 Delivered Duty Paid( --- named place of destination)
 This term means that the seller delivers when the seller
delivers the goods to the buyer , cleared for import, and not
unloaded from any arriving means of transport at the
named place of destination. The seller has to bear all the
costs and risks involved in bringing the goods thereto
including , where applicable, any “duty” (which term
includes the responsibility for and the risks of the carrying
out of customs formalities and the payment of formalities ,
customs duties, taxes and other charges) for import in the
country of destination.
 While the EXW term represents the minimum obligation
for the seller, DDP represents the maximum obligation.
 This term should not be used if the seller is unable directly
or indirectly to obtain the import license.
160
贸易术语的选择




买卖双方的市场优势：若是买方市场，卖方可选择对其较有利的
EXW, FAS或FOB条件。
当事人的能力：若买方的营销能力强，卖方所在地设有分支机构、
代办处，可办理出口手续，则可采用EXW条件；对应地，能力强
的卖方可采用DDP。
运输方式：以海运方式运输的合同可采用FAS, FOB, CIF, CFR,
DES及DEQ，而EXW, FCA, CPT , CIP, DAF, DDU和DDP可适用任
何运输方式。
货物的种类：若成交的是general cargo，多数以定期租船运输为主，
需要预订，采用CFR, CIF, CPT或CIP，由卖方在出口地负责安排
运输事宜。若成交货物为大宗物资或散装货，多以不定期船运输，
采用FOB或FAS等由买方洽订运输。
161
贸易术语的选择





地理条件
法则限制：有些国家规定以CFR或CIF条件出口，指定本国船公司
运输及/和保险公司投保。
运费及保费的考虑：有些出口商和船公司或保险公司有良好关系
或契约，可享受优惠费率，则可选择由卖方安排运输和/或保险；
若运费及保费有上涨/下跌趋势，可采用FOB/CIF或CFR条件。
交易习惯：日本业者习惯用FOB，中东业者习惯用CFR。
关税制度：若买卖双方国家对进口货物采取免征收关税措施，可
采用DDU。若进口国有保税区，则区内买方进口货物也可采用
DDU条件。
162
Chapter Six: Price of Import and Export
Commodity

1.Ways to Stipulate Price
 Fixed price（固定作价）
 e.g “ No price increase shall be allowed after conclusion of
this contract.”
 “No price adjustment shall be allowed after conclusion of
this contract.”
 Without Fixed Price For the Moment.
 Provisional price: （暂定价格）
 HK$5000 per bale(400 lbs.)CIF Hong Kong
 Remarks: The above is a provisional price, which shall be
determined through negotiation between the buyer and the
seller 15 days before the month of shipment.
163











Adjustable price
The above basic price will be adjusted according to the
following formula based on the wage and price indexes
published by the --- (organization) as of --- (month) 19--Adjustment Formula:
P1=P0(a+b×M1/M0+c×W1/W0)
P1=final price after adjustment
P0=basic price at the time of conclusion of contract
a=administration overheads, the fixed portion of basic
price.
b=material cost, the changeable portion of basic price.
c=labor cost, the changeable portion of basic price.
M1=materials wholesale price indexes at the time of
delivery x x months later.
164
M0= materials wholesale price indexes at the time of





conclusion of contract.
W1=wage index at the time of delivery x x months later.
W0=wage index at the time of conclusion of the contract.
西屋公司案：
20世纪70年代，美国西屋公司为了推销其生产的核反
应堆，向客户保证1975～1988年期间，以每磅8～10美
元的 价格提供60，000公吨以上的铀。西屋公司有6，
000～7，000公吨的存货，签定了14，000公吨的期货
合同。1975年1月铀的价格上升为每磅30美元，为履行
其承诺，西屋公司要承担20亿美元的损失，会导致其
破产。西屋公司拒绝履行合同，其客户向法院起诉。
后该案经双方协商获庭外解决。
165

II.Use of Commission and Discount
 In the price clause, sometimes commission or discount is
involved. Commission will be specifically stipulated when
an intermediary is involved in the deal. It refers to the
money received by an agent for his intermediary service.
Commission may or may not be included in the price. For
example, “US$200 Per M/T CIFC2% London” means 2%
of commission is included in the price.
 Discount is a certain percent of price reduction, a special
favor given by the exporter to the importer. Discount is
also specified in the price clause, as “US $ 200 per metric
ton CIF London less 3% discount”.
 III.Clause of Price
 A unit of price is composed of four parts: currency unit,
unit price figure, measurement unit and delivery terms.
 “US$200 Per M/T CIF London”
166

ⅳ.Formula to Calculate Prices:







CIF=CFR+I=FOB+F+I
I=保险金额×保险费率
保险金额=CIF×投保加成
含佣价=净价(net price)/（1—佣金率）
例题：
中国A公司某商品的对外报价为每箱$100CIFC5%伦敦，
英方要求改报为FOBC5%天津新港。已知每箱货物运
费为10$，投保加1成，保险费率为0.5%。请问A应如
何改报。
167

CIF=CIFC5×（1—佣金率）=100×（1—5%）=95每
元
 I=CIF×投保加成率×保险费率≈0.52美元
 FOB=CIF—I—F=84.48美元
 FOBC5=FOB/（1—佣金率）≈88.93美元
 ⅴ.Choice of Currency for Account and Payment
 Money of account is the currency used for price calculation.
Money of payment is the currency for settlement. Normally,
the money of account is the money of payment if no
otherwise stipulated in the contract. When choosing the
currency , the exporter should take foreign exchange rates
into consideration, as the fluctuations of exchange rates
may influence the interests of both exporter and importer.
 Theoretically,use of hard currency( currency that is reliable
168






and stable and more in demand) as payment currency is
more favorable to the exporter, while the importer prefers
to pay in soft currency( currency that is not readily
convertible to other currencies which are more in demand,
and that is unstable in value).
ⅴ.出口商品的成本核算
成本核算:出口商品的投入与通过出口该商品所创造的
FOB外汇净收入(出口商品换汇成本)作比较,或与外汇
净收入按人民币市场汇价的银行外汇买入价所兑换成
的人民币收入作比较(出口盈利额/亏损额)。
出口换汇成本≤银行外汇买入价，则盈利。
出口换汇成本=出口商品总成本（人民币）/FOB出口
外汇净收入（美元）
出口商品总成本（退税后）=出口商品的购进价（含增
值税）+定额费用—出口退税收入
169
定额费用：出口商品的购进价×费用定额率
 退税收入：出口商品购进价（含增值税）÷（1+增值
税率）×退税率
 出口盈亏额=（FOB出口外汇净收入×银行外汇买入价）
－出口商品总成本（退税后）
 例题：
 我外贸公司出售一批货物到伦敦，出口总价为5万美元
CIFC5%伦敦，以中国口岸到伦敦的运费和保险费占
10%。这批货物的国内购进价为351，000元（含增值
税17%），该外贸公司的费用定额率为5%，退税率为
9%，结汇时银行买入价为1美元折合人民币8.27元。试
计算这笔出口交易的换汇成本和盈亏额。

170




出口总成本=351000+351000×5%--351000/（1+17%）
×9%=368550－27000=341550（元）
FOB外汇净收入=50000×（1－5%）×（1－10%）
=42750美元
换汇成本=341550/42750=7.99
出口盈亏额=42750×8.27－341550=11992.5元
171
Chapter Seven:Delivery of Goods




Delivery of the goods refer to the act of the seller
transferring the title of the goods to the buyer in
accordance with the stipulations in the contract. It is
realized through delivery of the goods by the seller and
payment of the buyer. The procedure of delivery of the
goods is quite complicated, as it involves the methods of
the delivery and conditions of the delivery, etc.
A. Methods of the Delivery
1. Ocean Transport
So far as international trade is concerned , goods transport
is mostly done by ocean vessel---tramp or liner.
172




1)A tramp is a freight-carrying vessel which has no regular
route or schedule of sailings. It is first in one trade and
then in another, always seeking those ports where there is a
demand at the moment for shipping space.
The shipper charters the ship from the the ship owner and
uses it to carry the goods. It falls into 3 kinds:
Voyage charter(定程租船): It includes single voyage
charter(单程航次租船), return voyage charter(来回航次
租船) and successive voyage charter(连续航次租船).
According to the route to stipulated in the charter party ,
the ship owner is responsible for delivering the goods to
the port of destination and for managing the ship as well as
bearing all expenses.
Time charter(定期租船): The charterer charters the ship
for a period of time during the which the ship is deployed
and managed by the charterer.
173


A series of work, such as loading, unloading, stowing and
trimming and the so-caused fuel expenses, etc., should be
borne by the charterer. The ship owner should bear the
wages and board expenses of the crew and be responsible
for seaworthiness during the period of chartering and the
so-caused expenses and the vessel insurance premium.
Demise charter(光船租船): Demise charter is also called
bareboat charter, which belongs to time charter, but there
are some differences: as to time charter, during the period
of chartering , the ship owner provides the charterer with a
crew, while as to bareboat charter, the ship owner only
provides the charterer with a bare boat, the charterer
should employ the crew by himself.
174

The freight is usually stipulated according to the tonnage
of the ship and the freight rate on the current chartering
market.
 There are 3 methods of stipulating the freight:
 Tonnage of the goods loaded;
 Tonnage of the goods unloaded;
 On all-round contract basis.(以运费包干为条件)
 The main terms in the charter party include the interested
parties, name of the ship, description and quantity of the
shipments, time of chartering, freight , loading and
unloading expenses, time limit of loading and unloading,
demurrage(滞期费) and dispatch（速遣费）money.
 The freight may be stipulated in the charter party as
follows:
175



★Freight can be paid in advance;
★Freight can be paid after the goods have been arrived at
the port of destination;
★Part of freight is paid in advance, the rest of which is
paid after the goods have arrived at the port of destination.

Before the charterer pays off freight and other charges, the
ship owner is entitled to refuse to deliver the goods, this
kind of right is called lien(扣押权）.
 There are 4 methods to be used to stipulated the expenses
of loading and unloading:
 The ship owner bears gross terms（船方负担装卸费）;
 The ship owner is free in(F.I.)（管卸不管装）
 The ship owner is free out(F.O.)（管装不管卸）
 The ship owner is free in and out(F.I.O.)（均不管）.
176







When adopting this method , the interested parties should
indicate who will bear the expenses of stowing and
trimming. If they agree that the charterer shall be
responsible for them, the interested parties shall stipulate
“ ship owner is free in and out, stowed,
trimmed( F.I.O.S.T)”.
The time of loading and unloading will effect the turn-over
rate of the ship, and thus, will effect the interest of the ship
owner. Therefore it is the main clause specified in the
charter party. The time limit of loading and unloading may
be indicated by:
Days or running or consecutive days/hours;
Working days;
Weather working days;
Weather working days of consecutive 24 hours.
During the time limit of loading and unloading, in case the
charterer does not finish the work of loading and
unloading,in order to compensate the ship owner for his 177


losses, the charterer should pay certain amount of fine for
the exceeding time, this is the so-called demurrage.
During the time limit of loading and unloading, in case the
charterer finishes the work of loading and unloading ahead
of schedule, then the ship owner shall pay certain amount
of bonus to the charterer, this is called the dispatch money.

Liner: A liner is a vessel with a regular sailings and
arrivals in a stated schedule between specific ports:
 The main features of liners usually includes:
 The liner has a regular line, port, timetable and
comparatively fixed freight.
 The ship owner usually leases part of shipping space
instead of the whole ship.
 The carrier is responsible for loading and unloading
operations, i.e , gross terms.
178






The B/L drawn by the shipping company is the shipping
contract between the carrier and the consignor. The rights
and obligations of the carrier and the consignor are based
on the B/L drawn by the shipping company.
The basic standards for calculating freight are stipulated as
follows:
According to gross weight, i.e., weight ton (重量吨), which
is indicated by “W” in the tariff（运费表）.
According to volume, i.e., measurement ton(尺码吨),
which is indicated by “M” in the tariff.
According to value of the cargo, i.e a certain percentage of
FOB price which is indicated by “A.V.” (Ad Valorem) in
the liner freight tariff.
According to gross weight or volume, i.e., choosing the
higher rate between the two, which is indicated by “W/M”
in the tariff.
179

According to gross weight or volume or A.V., i.e., choosing
the highest rate of the three, which is indicated by “W/M
or A.V.”
According to gross weight or volume, and then plus a
certain percentage of A.V., which is indicated by “W/M
plus A.V.”
According to the number of the cargo.
 According to the temporary agreement entered into
between the ship owner and the consignor.
 The main surcharges are shown as follows:
 Heavy lift additional;
 Long length surcharge;
 Direct additional;
 Transshipment surcharge;
 Port congestion surcharge;
180








Bunker surcharge or bunker adjustment factor(BAF)(燃料
附加费）;
Optional fees（选港附加费）;
Alternation of destination surcharge（变更港口附加费）;
Deviation surcharge（绕航附加费）.
In addition to the above-mentioned surcharges, Ice
surcharge, cleaning tank surcharge, currency adjustment
factor, fumigation（熏舱） surcharge etc. are sometimes
included.
2. Railway Transport
Railway transport does not tend to be effected by weather
conditions , so it is available for transportation for almost
the whole year. Rail way transport is fast, delivery quantity
is large. It can guarantee the successive transport of the
goods. Risks of damage to the goods are comparatively
small.
According to the stipulations of the International Union of181





Railways, the International Railway Cargo Through
Transport Agreement and the International Convention
Concerning the Carriage of Goods by Rail, the goods
belong to the export country may be transported directly to
the place of destination as long as the carrier issues a
railway bill of lading at the place of dispatch.
The main transport documents are the railway bill(铁路运
单) and its duplicate. The railway bill is the transportation
contract and binding upon the consignee, the consignor
and the railway department. The railway bill together with
the goods is transported from the place of dispatch to the
place of destination and then is delivered to the consignee
after he has paid off the freight and other charges. The
consignor may make exchange settlement with the bank
against the duplicate of railway bill.
3. Air Transport
Air transport is fast and safe, the risk of or damage to the
goods is reduced to the lowest degree. It is not restricted 182

by ground conditions. It is especially suitable for
transporting fresh ,live, perishable, and seasonable goods.
 The airway bill(航空运单) is a document supplied by the
carrier to the consignor. It is a transport contract signed
between the consignor and the carrier. After the goods have
arrived at the place of destination, the consignee may take
delivery of the goods against the advice of arrival given by
the carrier. The consignor fills in this document in triplicate,
and one of these copies shall be sent with the goods.
 Air transport services are divided into four categories:
 Airliner transport(scheduled airlines)（班机） operates on
a scheduled service, over a fixed airline and between fixed
airports.
 Chartered carriers （包机）are the hire of an aircraft by a
shippers to deliver cargoes. They are ideal for carrying
cargoes of large quantities or carrying cargoes of different
shippers
183





to the same destination.
Consolidated consignments (consolidation transport)（集
中托运） mean that a number of individual shipments into
one consignment and dispatches them on one air waybill. A
consolidated shipment made by several shipments can be
dispatched to one common destination. Many shippers
prefer this kind of shipment as the freight rate is lower than
that of a scheduled airline.
Air express service( desk to desk service)（航空急件传送）
4.Parcel post transport
Parcel post transport is relatively a simple method of
transportation, the seller fulfils the duty of delivery only if
he delivers the parcel to the post office, pays off the
postage, and gets the receipt. It includes two kinds:regular
mail/surface parcel post and air mail.
184




5. Road transport
The road vehicle, used between countries by roads, is a
low capacity but very versatile（功能多）unit of transport,
very flexible in its operation. It has a high distributive
ability of offering a door-to-door service. Road transport is
ideal for general merchandise and selective bulk cargoes in
small quantities.
6.Inland waterway transport
The inland waterway system is usually linked to the
seaport and thereby acts as a distributor and feeder(支线）
to the shipping services. In some countries, especially
underdeveloped countries, inland waterways a major form
of distribution as the road and rail systems are unable to
cope or nonexistent in many areas.
185





7.Container transport: Containers are constructed of
metal and of standard lengths, mostly ranging from ten to
forty feet. The use of containers provides a highly efficient
form for transport by road, by rail and air.
Features of container transport can be summarized as
follows:
It offers a door to door service under FCL/FCL(整装整拆),
door to container freight station(CFS) service under
FCL/LCL(整装拼拆), CFS to CFS service under
LCL/LCL(拼装拼拆), or CFS to door service under
LCL/FCL(拼装整拆).
It can handled quickly and easily by standardized
equipment and can thus saves labor and loading and
unloading charges.
The low risk of cargo damage and pilferage enables more
favorable cargo premiums to obtained, compared with
break-bulk cargo shipments.
186

Less packing is required for containerized consignments.
 Faster transit, coupled with more reliable maritime
schedules, and ultimately increased service frequency,
produces savings in warehouse accommodation needs,
lessen risks of obsolescent stock and speed up capital
turnover.
 Container transport falls into two kinds:
Container yard(集装箱堆场）
 Full container load (FCL)
 Less container load (LCL)
CFS(集装箱货运站）

Process of Container Transport
 Port to port

consignor
Port of shipment ﹌﹌﹌﹌﹌ Port of destination
Ocean transport
CY/CFS
CY/CFS
consignee
187

Door to door

Warehouse of factory Inland transport Port of shipment
CY
 of the consignor
﹌﹌﹌﹌
Ocean transport
Port of destination
Warehouse or factory
Inland transport
CY
of the consignee
Carrier takes delivery of the container at inland depot
consignor
﹌﹌﹌﹌
Ocean transport
Inland depot Inland transport
Port of destination
CY/CFS
Port of shipment
CY/CFS
Inland transport
Inland depot
consignee
188

8.Land Bridge Transport
 Land bridge transport is a mode of transport that connects
the ocean transport on the two sides of the land by the
railway which runs across the continent.
 Land bridge transport uses the container as a medium, so it
has all advantage of container transport.
 There are two main land bridges in the world:
 American land bridge;
 New European Asian land bridge.
 The advantages of land bridge transport are obvious:
 Make exchange settlement earlier. As soon as the container
is delivered, the seller may make exchange settlement
against combined transport documents;
 The formality is simple. All that the consignor should do is
to apply for consignment and the general carrier will be
responsible for arranging and transporting the goods from
189

the place of delivery to the place of destination.
 9. International Multi-modal Transport
 International multi-modal transport (international
combined transport) means the carriage of cargo by at least
two modes of transport on the basis of a multi-modal
transport contract from a place at which the cargos are
collected in one country to a place designated for delivery
in another country. Although different modes of transport
are combined, only one multi-modal transport operator
is responsible for taking the cargo from the consignor and
delivering them to the consignee. Multi-modal transport
document is the only one document used.
 The basic conditions of international multi-modal transport
are:
 Transport documents, i.e., combined transport documents
shall cover the whole journey,;
190




It includes two or more different modes of successive
transportation;
It shall be international transportation;
The multi-modal transport operator (MTO)(多式联运经营
人)shall be responsible for the whole journey;
The whole journey shall use a single factor rate.(单一的运
费费率)
191

B. Delivery Conditions
 Delivery conditions refer to delivery clauses in the
international sales contract.
 Delivery conditions include the time of delivery, and in
some cases including the time of loading and unloading
operations, the port of shipment, the port of destination,
partial shipments and transshipment, etc.
 1. Time of Delivery
 The time of delivery refers to the time limit during which
the seller shall deliver the goods to the buyer at the agreed
place by the agreed methods.
 1) Ways of delivery
 Physical delivery of actual delivery: the seller delivers the
goods into the actual possession of the buyer, for example,
192





delivery of the goods under EXW and DES trade terms.
Constructive delivery (推定交货)or symbolic delivery:
after the seller loads the goods on board the vessel and
presents the whole qualified documents which include
certificates of title to the goods, the seller is said to have
finished delivery of the goods. It is unnecessary for the
seller to guarantee the goods to be received by the buyer
actually. In the actual delivery contract, there are two
different time limits, one is the time of shipment, the other
is the time of delivery. In the contract under F and C group
trade terms, the time of shipment and the time of delivery
belong to the same concept while in the contract under D
terms , they are different.
2). Ways of stipulating the time of delivery
Stipulate the definite time of delivery
Stipulate a fixed time, for example:
193

Shipment at or before the end of June；
 Shipment on or before Sept.15th;
 Shipment not later than July 31st
 Stipulate a fixed period of time, for example:
 Delivery or shipment during May 2003
 Stipulate the goods shall be shipped without a fixed time,
for example:
 Shipment within 15 days after receipt of remittance;
 Shipment by first available vessel;
 Shipment within 30 days after receipt of L/C
 In order to prevent the buyer from opening L/C late, we
should stipulate at the same time “the relevant L/C must
reach the seller not later than---”
Stipulate the goods shall be shipped in the near future, for
example:
194




Immediate shipment;
Shipment as soon as possible;
Prompt shipment.
But there are not unanimous explanation about these terms
in the international trade, and thus , it is quite easy to result
in disputes, so we should try to avoid using them.
195






2.Port of shipment and port of destination
As the place of shipment concerns the handling of
formalities , payment of charges and transfer of risks, it is
very important to stipulate it clearly in the contract.
The port of shipment or the place of departure is usually
chosen and determined by the seller and shall be agreed by
the buyer.
The points that we should pay attention to when stipulating
the port of shipment in an export contract.
1)the port of shipment shall be close to the origin of the
goods.
2)we should take into account the loading and
unloading ,and specific transportation conditions and the
standards of freight and various charges at home and
abroad.
196

The port of destination is usually proposed and determined
by the buyer, which shall be convenient for reselling the
goods and shall be the one at which the vessel may safely
arrive and be always afloat.
 When we determine the port of destination, we must pay
attention to the following points:
 1) The stipulation on the port of destination should be
definite and specific. We should not use those ambiguous
terms , such as “main ports in Europe” or “ main ports in
Africa”.
 2)If we have to choose a port which has no direct liner to
stop by or the trips are few, we should stipulate
“transshipment to be permitted” in the contract.
 3)In case the middleman abroad has not found a proper
buyer when the contract is concluded, in order to make it
197
convenient for him to sell the cargo afloat（路货）, the
“ optional port “ may be accepted upon request of the
foreign party, the buyer is allowed to choose one from the
several ports of destination provided. In case the
“ optional port” is adopted, we must pay attention to the
following points.
 ①The port provided shall be in the same line and shall be
the one that may be reached by ordinary liners.
 ②The number of optional ports prescribed shall not
exceed 3.
 ③When calculating the freight and surcharges, the highest
rates for them shall be charged due to the option.
 ④The consignee shall inform the liner company or its
agent at the final port of destination before the liner has
arrived at the first port provided , otherwise the shipowner has the right to discharge the goods at any port
provided.
198


Examples of Port of Shipment and Port of Destination
 Port of shipment: Qingdao and Shanghai
 Port of shipment: Qingdao/Dalian/Shanghai
 Port of destination: London/Liverpool
 Port of destination: London/Liverpool/Manchester
 CIF London/Hamburg/Rotterdam optional
 CIF London, optional Hamburg/Rotterdam. Optional
additionals for buyer’s account.
199

3.Partial Shipment and Transshipment
 In case of an export covering a large amount of goods, it is
necessary to make shipment in several lots by several
carriers sailing on different dates. This is done because of
the limitation of shipping space available, poor unloading
facilities at the port of destination, dull market season, or
possible delay in the process of manufacturing the goods,
etc. And this is allowable only if the clause “Partial
shipment to be allowed” is agreed upon in the sales
contract. If partial shipment is not allowed, the clause “No
partial shipment” or the like should be given in the contract.
 Transshipment in maritime transport is the movement of
goods in transit from one carrier to another at the ports of
transshipment before the goods reach the port of
destination. Transshipment is necessary when ships going
directly to the port of destination are not available, or the
port of destination does not lie along the sailing route of
the liner, transshipment is allowed when the sales contract
has a clause like “transshipment to be allowed”.
200

4.Examples of Shipping Clause:
 Shipment during Oct./Nov./Dec.20---, with partial
shipments and transshipment allowed.
 Shipment during Jan./Feb.20---in two about equal lots.
 Shipment during Jan./Feb.20---in two equal monthly
lots( in two equal monthly shipments), transshipment to be
allowed.
 During Mar./Apr. in two shipments, transshipment is
prohibited.
 During Mar./Apr. in two equal monthly shipments, to be
transshipped at Hong Kong.
 Shipment during May from London to Shanghai. The
sellers shall advise the Buyers 45 days before the month of
shipment of the time the goods will be ready for shipment.
Partial shipments and transshipment allowed.
201






C.Shipping document
Shipping documents indicate that the goods have been
loaded on board the vessel or have been delivered into the
custody of the carrier. In the constructive delivery ,
shipping documents are the main function for the seller to
prove that he has fulfilled the duty of delivery , as well as
for the buyer to pay the purchase price.
According to different modes of transportation , shipping
documents mainly refer to bill of lading, railway bills,
airway bills, multi-modal transport documents, etc.
1)Bill of lading: the document for sea transport is called
B/L, which is a receipt from the shipping company, giving
details of a particular shipment.
Roles of B/L
▲B/L is a receipt for the goods issued by the ship owner
or his agent evidencing the receipt of the goods mentioned
in B/L.
202

▲B/L is a document of title to the goods. Any lawful
holder of B/L may take the delivery of the goods from the
shipping company against the B/L, or transfer the title to
the goods by transferring the B/L or secure loans against
the B/L from the bank before the arrival of the shipment.
 ▲B/L is evidence of the contract of carriage between the
consignor and the shipping company. The rights and
obligations of the two parties are listed on the B/L.
 Kinds of B/L
 According to whether the goods have been loaded on
board the vessel, the B/L is divided into shipped on board
B/L and received for shipment B/L.（已装船提单和备运
提单）
 A shipped on board B/L is evidence that the goods have
been loaded on board a certain steamer. According to
general trade practices, only the shipped on board bill of
lading is accepted by banks for payment under a letter of
credit.
203



A received for shipment B/L is evidence given by the ship
owner that the goods have been received for shipment but
have not yet been actually loaded on a particular ship. It is
therefore uncertain whether the goods would be shipped or
loaded on board a vessel within a short period of time.
According to whether there are notes on the bill of loading,
it falls into two kinds: clean B/L and unclean B/L.
A clean B/L shows that the goods have been shipped on
board a vessel in apparent good order or condition. A clean
B/L is issued to the shipper when the goods do not have
any exterior defects at the port of shipment. Actually on
every B/L, there are words “shipped in apparent good
order and condition”. The carrier will not modify this
statement if the goods are in good order, therefore making
the bill of lading clean. The carrier undertakes full liability
for the goods and will carry and deliver them in the same
good order as he received them. The carrier will be
204

liable if the goods are found damaged.
 Unclean bills of lading are generally marked
“ insufficiently packed” , “carton old and stained”, “--packed in damaged condition” etc. But not all bills of
lading which are noted are unclean bills of lading. The
following kinds are not regarded as unclean bills of lading.
 ▲The notes do not indicate clearly that the goods or
packing are unsatisfactory , e.g., “ old packing” or “ old
carton” etc.
 ▲The purpose of the note is to emphasize that the carrier
shall not be responsible for the risks resulting from the
quality of the goods or packing.
 According to whether the B/L is transferable , it is divided
into 3 kinds: straight B/L(记名提单）, order B/L（指示提
单）, and blank B/L（不记名提单）.
205


A straight B/L is made out so that only the named
consignee at the destination is entitled to take delivery of
the goods under the bill. The consignee is designated the
shipper. The carrier has to hand over the cargo to the
named consignee, not to any third party in possession of
the bill. This kind bill of lading is not transferable . The
shipper cannot pass the bill to a third party by endorsement.
So the bill is of very restricted application. When the goods
are shipped on a non-commercial basis, such as samples or
exhibits, or when the goods are extremely valuable, a
straight bill of lading is generally issued.
An order bill of lading indicates that the bill is made out to
the order of any person named in such a bill. This kind of
bill may be transferred after endorsement. When the bill is
made out “to order of shipper” it is necessary for the
206

shipper to endorse the bill either in blank or in full, to the
consignee to whom he wishes the delivery of the goods is
to be made. If the shipper does not endorse such a bill, he
reserves the right to dispose of the goods to himself.
 A blank bill of lading is also called open B/L or bearer B/L.
It refers to the bill in which the name of a definite
consignee is not mentioned. There usually appear in the
box of consignee words like “ to bearer” and the holder of
the B/L can take delivery of the goods against the
surrender of B/L.
 According to the modes of transport, it can be divided into
3 kinds.
 A direct B/L（直达提单） is evidence that the goods are
shipped and carried by the steamer and transported from
the port of loading direct to the port of destination without
207



transshipment during the voyage. The buyer usually
prefers such a B/L, because the possible cargo damage or
losses is usually caused by transshipment.
A transshipment B/L（转船提单） is a document showing
that when there is no direct service between two ports, the
goods are transited by another steamer during the voyage,
generally at the port of transshipment mentioned in the
B/L , to the port of destination where an ocean-going liner
does not call during its voyage.
A through bill of lading （联运提单）is issued when the
entire voyage involves more than one carrier. The first
carrier issues the bill and collects the freight for the entire
voyage, and arranges transshipment and forwarding of the
goods at the intermediate port. The shipper prefers this
kind of B/L because of the trouble having been saved to
deal with other carriers by himself.
208







According to the contents of the B/L, it can be divided into
2 forms.
A Long Form B/L（全式提单） refers to the bill of lading
on the back of which all the detailed terms and conditions
about the rights and obligations of the carrier and the
consignor are listed as an integral part of the bill.
A short form B/L（略式提单） is a document which omits
the terms and conditions on the back of the B/L.
According to the time for payment of freight, it can be
divided into 2 types.
A freight prepaid B/L （运费预付提单）means that all
the freight is paid by the consignor when the B/L is issued
by the carrier.
A freight to be collected B/L（运费到付提单） refers to
the B/L on which “ freight payable at destination” is
indicated.
According to the types of the carrying vessels, it can be
classified into a liner B/L and a charter party B/L.
209



Other types of B/L:
Groupage B/L(成组提单)and House B/L （运输代理行提
单）The forwarding agent（运输代理行） usually groups
together particular compatible goods of consignees situated
usually in the same area, and dispatches them as one
consignment.After taking over the consignment, the shipowner will issue a groupage B/L to the forwarding agent.
And then several house Bs/L are issued by the forwarding
agent to the individual consignors. At the destination, the
forwarding agent’s representative or another agent will
break bulk（开始卸货） the consignment and distribute
the goods, to their representative consignees on their
production of the house Bs/L.
On Deck B/L（甲板提单）An on deck bill is issued when
the goods are stowed on deck. Some cargoes, such as
inflammable goods, explosive goods and poisonous goods,
210

cargoes in large volume or of backward sizes, live cattle,
plants, etc, must be loaded on deck.
 Stale B/L: A stale bill of lading is a bill when it is presented
to the consignee or bank later than a specified time after
issuance. In order to safeguard the interests of its principle,
the bank usually refuses to accept a stale B/L, because the
delay in the presentation of the B/L might lead to
additional costs, such as warehousing expenses etc.
 Contents of B/L
 Every liner company in the world has its own B/L form
and clauses, but the basic contents are stipulated according
to the International Convention for the Unification of
Certain Rules of Law Relating to Bill of Lading. （《统一
提单的若干法律规则的国际公约》(Hague Rules)（海
牙规则）
211

On the face of the B/L, the following particulars are to
be noted:
 Consignor /Consignee/Party to be notified/Name of the
vessel/Ship’s nationality/Voyage/Port of shipment and port
of destination/Freight
 Number of the copies of the B/L, date, signature of the
ship-owner or his agent or capital of the steamer.
 Main particulars regarding the goods loaded on the
steamer: description, marks, number of package, weight or
measurement.
 Declaration shall be made that the goods have been
loaded on board in apparent good order and should be
discharged at the port of destination or the port as near as
the vessel may safely get and be always afloat.
212
After one of the original B/L（正本提单） has
accomplished the formality of taking delivery , the others
stand null and void.
 The consignor, consignee and bearer declare that they
accept and agree the B/L and its stipulations and exclusion
clauses printed, written or typed on the back of the B/L.
 Clauses on the back of the B/L
 Obligations and responsibility of the carrier;
 Exceptions;
 Claim and action clauses;
 Duty and obligation of the consignor;
 Transportation clauses for special goods;
 Other clauses.
 2)Multi-modal transport document

213




The multi-modal transport document is a document which
evidences the combined transport contract and indicates
that the multi-modal transport operator shall take over the
goods and shall be responsible for delivering the document
according to the clause in the contract. It appears to meet
the requirements of container transport.
The difference between an M.T.D and a through B/L
are:
A through B/L is restricted to the combination of ocean
transport with other modes of transportation; while an
M.T.D can be used either in combined transport of ocean
and other modes or in the combination of modes of
transport excluding ocean transport, but it shall include
two or more different modes of transport.
A through B/L is issued by the carrier, captain or agent of
the carrier; while an M.T.D is issued by the multi-modal
transport operator or his authorized person.
214

The issuer of a through B/L is only responsible for the first
journey; while the issuer of an M.T.D should be
responsible for the whole journey.
 A through B/L is a whole journey B/L issued by the first
carrier after the goods have been loaded on board the
vessel, it is a shipped , on board B/L; while an M.T.D may
be a shipped on board B/L , but in most cases is a received
for shipment document.
 3).Air Waybill
 Compared with the bill of lading, air waybill is simple and
not diversified in its types. It is a receipt from the airline
acknowledging the receipt of the consignment from the
shipper and a contract of carriage between the airline and
the shipper.
215

An air waybill is equivalent to an ocean B/L, but it is not a
document of title or negotiable instrument as a bill of
lading, as the buyer does not have to pay to get the air
waybill to receive the goods from the carrier. Hence
collection cannot be used for the payment of the goods to
be transported by air.
 When a cargo is to be carried by air, what the shipper has
first to do is to fill out a Shipper’s Letter of Instruction,
which , after its completion , gives the details of the
consignment. Based on this instrument, accompanied by
the commercial invoice and other relevant documents, the
airline makes out the air waybill.
216



练习题:
1.上海运往肯尼亚蒙巴萨港“门锁”一批计100箱，每
箱体积为20厘米×30厘米×40厘米，毛重为25千克。
当时燃料附加费为30%，该港拥挤附加费为10%。门锁
属于小五金类，计收标准为W/M，等级为10级，基本
运费为每运费吨443.00港元，请计算应付运费是多少？
2.我国对澳大利亚出口1000吨大豆，国外开来信用证规
定：不允许分批装运。结果我们在规定的时间内分别
在大连、新港各装500公吨于同一航次的同一船上，提
单也注明了不同的装运地和不同的装船日期。请问：
这是否违约？银行能否议付？
217










1、
（1）先分清该批货物是按重量收费还是按体积收费[本题应按重
量收费],可根据“积载系数”(即体积÷重量,若＞1,则按体积收费,
反之则反是)
（2）本题公式：
运费=基本费率×（1+附加费率）×计费数量
（3）该批货物的总重量为：
25×100=2500（千克）
2500÷1000=2.5（吨）
（4）443×（1+30%+10%）×2.5=1550.50（港元）
2、
不是真违约。因为《跟单信用证统一惯例》规定，同一船只、同
一航次中多次装运货物，即使提单表示不同的装船日期及（或）
不同装船港口，也不作为分批装运论处。
218
Chapter Eight: Cargo Transportation
Insurance


In international trade, the transportation of goods from the
seller to the buyer by air, by land, or by sea is generally
over a long distance and has to go through the procedures
of loading, unloading, and storing. During this process, it
is quite possible that the goods will encounter various
kinds of perils or risks and sometimes suffer losses. In
order to protect the goods against possible losses of such
perils, the buyer or seller before the transportation of the
goods must usually take out insurance with an insurance
company on the goods.
International cargo transportation insurance refers to the
fact that the insured covers insurance for the shipment with
the insurer, i.e., the insurance company before shipment. 219

The insured pays insurance premium to the insurance
company on the basis of insurance amount, insurance
cover as well as insurance premium rate, and obtains the
insurance policy. The insurer shall compensate the insured
for the losses of, and damage to the goods, if any, during
the transportation within the scope of insurance cover.

A. Perils and losses

1. Perils
Perils refer to risks which occur at sea, or at the place
where the ocean and land, or the ocean and the inland river,
or the ocean and the lighter are connected.
Perils are mainly divided into two kinds, i.e., general
perils of the sea(海上风险/海难) and extraneous risks(外
来风险).
1) General perils of the sea include natural calamities and



220

fortuitous accidents. Natural calamities are caused by the
forces resulting from the changes of natures, e.g., vile
weather, thunder, lightning, Tsunami, earthquake, flood,
etc. fortuitous accidents include accidents resulting from
unexpected causes, the carrying conveyance being
grounded, stranded, or in collision with floating ice or
other objects, as well as fire or explosion.
 2) Extraneous risks include theft, fresh or rain water
damage, shortage, leakage, breakage, sweating and heating,
intermixture and contamination, odor, hook damage,
breakage of packing, rusting,etc.
 2. Ocean Losses and expenses sustained
 Ocean losses refer to the direct or indirect losses of the
insured subject matter during the voyage owing to the
perils of the sea.
 1) Total Loss
 Actual Total Loss:The insured subject matter is totally and
irretrievable lost;
221

Constructive Total Loss（推定全损）: It is estimated that
the actual total loss of cargo is inevitable or the cost of
salvage or recovery could have exceeded that the value of
the cargo.
 In case of a constructive total loss, the insured may apply
to the insurer for compensation according to partial loss
and constructive total loss. In case of the latter, the insured
shall submit to the insurance company the notice of
abandonment（委付通知）. In this way, the insurer
willingly, and applies to the insurer for compensation
according to the total loss.
 2）Partial loss
 Partial loss includes general average（共同海损） and
particular average（单独海损）.
 ①General average refers to a certain special sacrifice and
222




extra expense intentionally incurred for the general
interests of the ship-owner, the insurer, and the owners of
the various cargoes aboard the ship.
For example, a ship may have run aground and all efforts
to refloat it have failed. In order to save the ship from
breaking up, the master may decide to jettison part of the
cargoes to lighten the ship. This loss is borne by all the
parties concerned mentioned above in proportion. The
same applies to additional expenses incurred for the
common interests, for example, the cost of using a tug to
tow the damaged vessel into a port; all the parties have to
contribute in proportion to their interests.
The following conditions of general average must be
provided with:
The carrying vessel must really run up against the risk that
223








threatens the safety of the ship and the cargoes.
The sacrifice of general average must be a willing and
intentional action.
The sacrifice of general average and the expense outlaid
（支付） must be reasonable.
The purpose of the sacrifice and expense incurred is only
restricted to the general safety of the vessel and cargoes.
Losses should be the direct result of the general average.
The purpose of the sacrifice and expenses is to save the
ship, cargoes and freight, so G.A. contribution shall be
made by the three parties in proportion to the final value
saved.
General average contribution(共同海损分摊)
例如船在航行途中触礁,船身出现裂口,海水自裂口侵入,货方甲价
值3万美元的货物因此受损。为了船货共同安全,船方下令租用拖
轮将船拖到岸边修补,为了船身上浮抛掉了乙方的部分笨重货物
224

（计2万美元）,这些损失和费用共计8万美元。已知开航时各方的价值
为:船方100万美元、货方甲33万美元、货方乙52万美元、货方丙8万美元、
待收运费2万美元。请问这8万美元的共同海损如何分摊？
单位：万美元
获救价值 分
船方
分摊金额
摊
52.63%
比
例 26.31%
4.21
2.104
甲
100
30
乙
50
15.79%
丙
8
4.21%
1.263
0.337
运费方
2
1.08%
0.086
100%
8.00
合计

分摊比例
190
②Particular average: it means that a particular cargo is
damaged by any cause and the degree of damage does not
reach a total loss, i.e., only a partial loss, which shall be 225

borne by the owner of this individual consignment;
 3)Maritime charges
 Maritime charges are usually incurred in saving the insured
cargoes.
 ①Sue and labor charges（施救费用）: when the insured
cargo suffers natural calamities or fortuitous accidents
within the scope of insurance cover, the insured or his
agent or any employees pays the expenses caused in saving
the insured cargo in order to prevent the losses from
further expending. These charges shall be covered by the
insurer.
 ②Salvage charges（救助费用）: when the insured cargo
suffers a natural calamity or a fortuitous accident within
the scope of insurance cover, the third party who has no
contracted relations with the insured and the insurer
salvages the cargo successfully. According to the relative
226

laws,existing in the world, the insurer shall pay to the
salvor. But there is a principle, i.e., “no cure-no pay”（无
效果，无报酬）

B. Maritime insurance clause

The contract of our marine insurance clauses include the
scope of cover, exclusions（除外责任）, commencement
and termination of cover, duty of the insured, time of
validity of a claim, etc.
 1. The Insurance Coverage Includes Basic Insurance and
Additional Insurance.
 1) Basic risks（基本险）
 Basic insurance is also called main insurance which may
be underwritten independently. It is classified into three
conditions, i.e., Free From Particular Average(F.P.A.)（平
安险）, with Particular Average(W.A/W.P.A.) （水渍险）
and All Risks（一切险）. Where the goods insured
227
hereunder sustain loss or damage, the People’s Insurance
Company shall undertake to indemnify there-for according
to the Insured Condition specified in the Policy and the
Provisions of the clauses.
 ①Free form particular average(F.P.A)
 The scope of F.P.A includes:
 ●Total loss or constructive total loss of the whole
consignment hereby insured caused in the course of transit
by natural calamities, such as vile weather, thunder and
lightening, Tsunami, earthquake and flood.
 ●Total or partial loss caused by accidents----the carrying
vessel being grounded, sunk, or in collision with floating
ice or other objects, as well as fire or explosion.
 ●Partial loss caused by vile weather, lightning and/or
Tsunami, etc. where the conveyance has been grounded,

228

stranded , sunk or burnt, irrespective of whether the event
or events to take place before or after such accidents.
 ●Total or partial loss consequent on falling of entire
package or packages into sea during the process of loading,
unloading or transshipment.
 ●Sacrifice in and contribution to general average, and
salvage charges resulting form the above mentioned
accidents as well as other reasonable expenses in salvaging
the cargoes from perils.
 ●Such proportion of losses sustained by the ship-owner as
is to be reimbursed by the cargo owner under the contract
of Affreightment “Both to blame collision” clause(船舶互
有责任碰撞条款）.
 ②With particular average(W.P.A. or W.A.): it covers
partial loss due to vile weather, lightning, tsunami,
229




earthquake and/or flood as well as the risks covered under
F.P.A. condition as mentioned above.
③All risks: Aside from the risks covered under the F.P.A.
and W.A. conditions as above, this insurance also covers
all risks of losses or damage to the insured goods whether
partial or total, arising from external causes in the course
of transit.
In practice, while taking out insurance for a specific
shipment, we must differentiate one coverage from another,
especially must be clear as to the differences between the
clauses of F.P.A and those of W.P.A.
Policies embodying clauses of the former type can be
obtained at a lower rate of premium than those embodying
W.A clauses, but do not provide such comprehensive
insurance cover as the latter. The exporter has to decide
230

in each particular case whether F.P.A terms are sufficient or
a W.A insurance is required; when fragile or more delicate
goods are shipped, e.g., glassware, plywood etc., a W.A
policy is generally apposite, even if the goods are expertly
packed. When rough cargoes are shipped, e.g., sheet iron,
coal, etc., an F.P.A policy is usually sufficient
 2)Additional risks（附加险）
 Additional risks can not be covered independently, they
shall be underwritten depending on one kind of the basic
risks.
 ①General additional risks;
 Theft, Pilferage and Non-Delivery;（偷窃，提货不着险）
 Fresh Water and Rain Damage;（淡水雨淋险）
 Shortage;（短量险）
 Intermixture and Contamination;（混杂、玷污险）
231

Leakage;（渗漏险）
 Clash and Breakage;（碰撞、破碎险）
 Odour;（串味险）
 Sweating and Heating;（受潮受热险）
 Hook damage; （钩损险）
 Loss or Damage Caused by Breakage of Packing;（包装
破裂险）
 Rust.（锈损险）
 ②Special additional risks
 Failure to delivery;（交货不到险）
 On deck risk;（仓面险）
 Aflatoxin risk;（黄曲霉素险）
 Survey in customs risk;（海关检验险）
 Survey at jetty risk;（码头检验险）
 Strike, riot and civil commotion(SRCC);（罢工险）
232

War risk;
 Contingency insurance “cover seller’s interest only”(卖方
利益险)
 2. Exclusions
 Exclusions refers to losses and expenses for which the
insurance company declares clearly not to be responsible.
 Exclusion usually include:
 1) Loss or damage caused by intentional act or fault of the
insured;
 2) Loss or damage due to the responsibility of the
consignor;
 3) Inferior quality or shortage in quantity before the
commencement of the insurance duty;
 4) Natural loss, inherent vice or nature of the insured
goods;
233

5) Loss of the market price of the insured goods;
 6) Loss due to delay in transportation and any expenses
arising therefrom.
 3. Commencement and Termination of Insurance Duty
 (保险责任的起讫)
 1) Commencement and Termination of Basic Insurance
 The commencement and termination of basic insurance are
usually stipulated by adopting the customary “W/W”
clause. By the clause warehouse to warehouse, the liability
of the insurer is extended to cover pre-shipment and postshipment risks. The insured goods are covered from the
time when they leave the warehouse at the place named in
the policy for the commencement of the transit and
continue to be covered until they are delivered to the final
warehouse at the destination named in the policy, but the
234



policy provides an overriding（溢额） time limit of sixty
days after the completion of discharge of the insured goods
from the seagoing vessel at the final port of discharge. On
the expiration of that time limit of 60 days the cover ceases
to protect the goods even though they have not reached the
final warehouse.
2) Commence and termination of marine war insurance
The insured goods are covered from the time when they
are loaded on board the ship or lighter at the port of
shipment named in the policy and continue to be covered
until they are discharged at the port of destination named
in the policy. (以水上危险为限,waterborne risks)If the
cargoes are not discharged from the ship or lighter, then the
time of insurance duty shall be limited to 15 days counting
from the midnight of the day when the vessel arrives at the
port of destination.
235
损失原因
及程度
保险险别
自然灾害
全部
部分损失
损失
负责
平安险
意外事故
全部
损失
只负责共同
海损,不负责
负责
单独海损
部分损失
外来风险
一般
风险
特殊风险
不负
负责
不负
基
本
险
全部负责
水渍险
负责
负责
一切险
一般附加险
特殊附加险
负责
负责
负责
负责
负责
不负
负责
不负
不负
负责
负责
236

C.London Insurance Institute Cargo Clauses

The newly revised London Insurance Institute Cargo
Clauses (I.C.C)（协会货物条款）include 6 kinds:
Institute Cargo Clause A;
Institute Cargo Clause B;
Institute War Clause-Cargo;（协会战争险条款）
Institute Strikes Clause-Cargo;（协会罢工险条款）
Malicious Damage Clause.（恶意损害险条款）









1. Institute Cargo Clause A
The scope of clause A is comprehensive, so the method of
“all risks except exclusions”
1) Risks covered
①All risks except exclusions;
237











②General average and salvage expenses;
③Proportion of losses under the contract of affreightment
“Both to Blame Collision” clause.
2) Exclusions
①General exclusions(一般除外责任)
▲Loss or damage due to wilful misconduct of the insured;
▲Natural leakage of the subject matter, natural wear and
tear, or wastage of the subject matter;
▲Insufficient or improper packing;
▲Delay;
▲Inherent vice of the subject matter;
▲Insolvency (破产\不履行债务)of the owner of the ship,
the carrier or the charterer;
▲Nuclear or atomic weapons.
238
②Unseaworthiness and unfitness of the carrying vessel or
lighter（不适航、不适货）, including the containers;
 ③War, capture, hostile behavior, distraint(扣留) and
conventional weapons;
 ④Strikes, terrorists.
 2. Institute Cargo Clause B
 Clause B lists all risks covered so that the insured may
choose the proper insurance cover.(列明风险)
 1）Fire , explosion
 2）Ship or lighter colliding with rocks, running aground,
sunk or capsized;
 3）Conveyance overturned or derailed;
 4）Ship, lighter or other conveyance colliding with any
external object excluding water;

239

5）Loss or damage due to unloading at the port of refuge;
 6）Loss of damage due to earthquake , eruption of volcano,
lightning or thunder;
 7）Sacrifice in general average;
 8）Loss of the subject matter due to jettison and washing
overboard;
 9）Loss of the subject matter due to being plunged into
water by waves;
 10）Loss of the subject matter insured due to water
entering the ship, lighter, conveyance, container or storage
place;
 11）Total loss caused by falling of the entire package or
packages into sea during the process of loading and
unloading.
240



Exclusions of clause B are those mentioned in clause A,
but the following two are not included:
1）Piracy;
2）Malicious damage.

3. Institute Cargo Clause C
 Institute Cargo Clause C only covers major casualties. (列
明风险) Comparing with clause B, it excludes the
following risks:
 1）Loss or damage due to earthquake, eruption of volcano,
lightning or thunder;
 2）Falling of the goods into sea during the process of
loading and unloading, water entering the ship, lighter,
conveyance, container, storage plane, etc.
 Exclusions of clause C are the same as those in clause B
241

D. Marine Insurance Business in China and
Insurance Clauses in the Contract

1.Marine Insurance Business
1) Choosing Insurance Coverage
The liability undertaken by the insurance company is on
the basis of insurance coverage.
①Quality and characteristic of the goods:The coverage
usually varies according to the type of goods and the
circumstances; delicate goods, such as breakage crockery,
cotton piece goods or perishable foodstuffs, obviously
have to be covered against more risks than sturdy articles
like steel girders, tin ingots etc.
②Conveyance and line: On the goods carried by different
kinds of conveyance we should take out different insurance
coverage. Different lines influence the goods as well,




242

the goods tend to be heated in equatorial areas.
 ③Changes of international political and economic
situations:
 Sometimes, international political and economic situations
will menace the safety of the goods directly. For example,
in case of war, we shall cover insurance on the goods
against war risks.
 ④Regularity （规律性）of damage: we can obtain the
regularity on the basis of investigation and research on the
previous cases of damage.
 ⑤Package conditions of the cargo: the packing of the
goods must be sufficient for enduring a long distance
transportation.
 2) Determining insurance amount and calculating
insurance premium:
243


The insurance amount is the highest compensation amount
undertaken by the insurer, and it is also the foundation for
calculating the insurance premium. The insured may
usually determine the insurance amount by himself.
In principle, the insurance amount should be the actual
value of the insured goods. However, in international trade
practices, it is rather difficult to accurately calculate the
actual value of the goods. Therefore, the insurance amount
is usually determined on the basis of the CIF invoice value.
But if we only take the CIF value as the insurance amount,
the operating expenses and profit in expectancy by the
insured cannot be compensated by the insurance company
in case of loss or damage . So both the insurance clauses
adopted in different countries and the international trade
practices stipulate that the insurance amount may be
244






marked up by a certain percentage on the basis of the CIF
value. Then the insurance amount under CIF trade term
includes:
①Invoice value which is made up of 3 parts, i.e., cost of
the goods, amount of freight, insurance premium.
②Markup percentage which is usually 10 percent of the
CIF value.
The formula used to calculate the insurance amount under
CIF trade terms is shown as follows:
Insurance amount=CIF price× (1+markup percentage)
But at present, most of import contracts are concluded
under FOB or CFR terms, in order to simplify procedures
and make calculations convenient, foreign trade enterprises
usually sign open policies with the insurance company in
which an average freight rate and an average insurance
premium rate are stipulated, and the insurance amounts
will not be marked up any more.
245

If under FOB trade terms:
 Insurance amount=FOB price× (1+average freight
rate+average premium rate)
 If under CFR trade terms:
 Insurance amount=CFR× (1+average premium rate)
 The insurance premium, being the name given to the sum
of money paid by the insured, is the basic proceeds earned
by the insurer.
 Premium is usually calculated according to two kinds of
rates, i.e., the general premium rate and the named cargo
premium rate.
 Under CIF terms, the formula for calculating the premium
will be:
 Premium=CIF price× (1+markup percentage)
×premium rate
246

As mentioned above, the premiums of the imports in China
are usually calculated in a simplified way.
 If under FOB terms, the formula will be:
 Premium=FOB price× (1+average premium
rate+average freight rate) ×average premium rate.
 If under CFR terms, the formula will be:
 Premium=CFR price× (1+average premium rate) ×
average premium rate.


3) Taking out insurance
Cargo transport insurance is usually taken out on
“warehouse to warehouse” basis, so the goods under CIF
terms shall be covered before being loaded on board the
vessel. The insurance on export goods under CFR and
FOB terms shall be taken out to the buyer by the seller
247







or when the goods are loaded on board the vessel.
Taking out insurance with the insurer is a contracted legal
action of the insured, who usually applies for insurance in
a written form. This kind of written form is called
Application for Marine Insurance.
When the insured fills in the application, he should pay
attention to the following points:
①Details of the insured goods shall be provided on the
principle of utmost good faith.
②Contents shall be in conformity with the stipulations in
the contract and L/C.
③The insurer holds no liability for any wilful fault or
negligence of the insured.
④The venture must be legal.
248
⑤The insurance amount, insurance coverage, the name,
quantity, packing of the insured goods, the name of the
vessel, sailing date, etc. must be filled in correctly.
 4)Insurance clause
 Under FOB, CFR or CIF trade terms, the contract
insurance clauses may be stipulated as follows:
 ①Insurance to be effected by the buyer;
 ②Insurance to be effected by the seller on behalf of the
buyer for 110% of the invoice value against FPA (WPA, or
ALL risk);Premium to be for the buyer’s account.
 ③Insurance to be effected by the seller for 110% of the
invoice value against FPA (WPA or ALL risks) and war
risks as per Ocean Marine Cargo Clause of the People’s
Insurance Company of China.

249

E. Forms of Marine Insurance Contract

There are 5 kinds of Forms of Marine Insurance
Documents.
 1.Insurance Policy
 The insurance policy is the most widely used insurance
document. It legally binds upon both parties.
 Contents of the insurance policy usually include:
 1)Name and addresses of the insured and the insurer;
 2)Subject matter insured;
 3)Kinds of risks and accidents covered;
 4)Commencement date of insurance as well as time limit;
 5)Insurance amount;
 6)Date and place of taking out the policy;
250






7)Insurance premium;
8)Signature of the insurer;
9)Words evidencing the establishment of the insurance
relationship between the insured and insurer;
10)Particulars of the insured goods: the name, description,
mark, quantity, packing, name of ship, port of shipment,
port of destination, date of shipment, etc.;
11)Coverage, place of claim satisfaction place(赔款偿付地
点) and declaration of the insurer that the insured goods
will be compensated in case of any loss or damage due to
any risk within the scope of insurance cover.
There are rights and obligations of the two parties on the
back of the insurance policy. It mainly includes the scope
of insurance, the exclusion, the commencement and
termination of the duty, the obligations of the insured
251





and the time limit for claim.
2. Insurance Certificate(保险凭证)
It is a kind of simplified insurance policy. The insurance
certificate only indicate the name of the insured, name of
the insured cargo, quantity, mark, conveyance, place of
shipment, place of destination, insurance cover, and
insurance amount. But the rights and obligations of the two
parties are omitted. The insurance certificate has the same
legal validity as the insurance policy.
3.Open Policy(预约保单)
This type of policy is of great importance for export
business, it is a convenient method for insuring the goods
where a number of consignments of similar export goods
are intended to be covered. An open policy covers these
shipments, as soon as they are made, under the previous
arrangement between
252



the insured and the insurance company. The particulars of
these shipments should be supplied to the insurance
company later on in the form of shipment advices which
include the names of cargoes, quantities, insurance
amounts, kinds of conveyance, ports of shipment,
destinations, dates of shipment, etc. An open policy only
indicates the scope of insurance coverage, insurance
premium rate and highest insurance amount of each lot,
calculating method of the insurance premium, etc.
4.Combimed Certificate(联合凭证)
When the goods are exported to Hong Kong, and some
countries in Southeast Asia, the insurance company
sometimes adds the coverage, insurance amount and serial
number of insurance on the commercial invoice which is
made out by a foreign trade company. This is a certificate
253


which combines the invoice with the insurance policy. It is
the simplest insurance certificate in use.
5. Endorsement(批单)
After insurance has been taken out, if the insured wants to
replenish or change the contents of the policy, he may
apply to the company , another certificate which indicates
the relative amendment will be issued. This certificate is
called endorsement.

F. Insurance Claim

Lodging or filing a claim means that in case the insured
goods suffered losses within the scope of insurance cover,
the insured can claim for indemnity from the insurer on the
strength of（凭借） the insurance contract.

254

1. Formalities of Claim
 In case of loss or damage, the consignee shall determine
who will be responsible for the same and thus determine
the object whom he should raise a claim against.
 The object may be the seller or consignor in case loss or
damage is due to inferior quantity, insufficient packing or
shortage as well as inherent vice; or may be the carrier if
loss or damage is due to natural calamities or fortuitous
accidents within the scope of insurance.
 1) Advice and inspection of goods damaged
 After the insured goods have arrived at the port of
destination, the insured or his agent should inspect the
goods in time. If he finds any loss or damage within the
scope of insurance, he should inform the inspector or the
satisfaction agent of the insurer of the same at the port
255

of destination. That the insured advises the insurer of the
loss or damage is a necessary procedure of application for
indemnity.
 The following parties should be responsible for inspection:
 ①The carrier or tally（理货、点数） department;
 ②The insurer and other relevant parties;
 ③The authentic surveyor.
 2) Evidence of lodging a claim
 When the insured lodges a claim against the insurer,
besides the written application for claim and detailed list of
claim, he should also provide the following documents to
indicate and evidence the degree of loss or damage, and the
compensation duty of the insurer:
 ①The inspection declaration of loss or damage;
256
②The insurance policy or insurance certificate;
 ③The invoice, B/L, packing list or weight memo（重量
单）;
 ④The sea protest;（海事报告）
 The sea protest is the true record of vile weather, fortuitous
accidents or other perils during the voyage, the purpose of
it is to indicate that the ship or cargoes may suffer losses
due to the perils, and declare that the captain and the crew
have already taken all necessary and reasonable measures.
If the losses are due to force majeure events, the shipowner should be exempted from any obligations.
 ⑤The detailed list of expenses;
 ⑥The relevant documents and circular letters to the carrier
and other third party to lodge a claim.
 3)Protecting the interests of the insurer

257
①Any person who files a claim should have the insurance
interest.
 ②Loss of or damage to the subject matter shall be the
direct result of the perils within the scope of the insurance
cover.
 2. Points should be paid attention to when filing claims
 1) As to fragile goods, there are two ways to stipulate the
method for compensation. One is franchise（免陪率）,
i.e., in case of breakage, the insurer is free from a certain
percentage of compensation. The franchise includes
relative franchise and deductible franchise. Both are free
from compensation if the amount of loss does not exceed
the franchise. But they have one important difference. In
case the amount of loss exceeds the franchise under the
relative franchise the insurer will not deduct the franchise
and compensate the total loss, while under the deductible
franchise the insurer

258



will deduct the franchise and only compensate the
exceeding part.
Another stipulation is irrespective of percentage （不论损
失程度）(I.O.P.),i.e.,the insurance company will
compensate in case of breakage irrespective of percentage,
but the insurance premium will be higher.
2)When the loss or damage suffered by the subject matter
insured comes up to the constructive total loss, the insured
may submit to the insurer the notice of abandonment, and
pass all the rights and interests of the damaged goods to
the insurer and ask him to compensate on the basis of the
constructive total loss.
259



练习题
1.合同规定由我供应某商品60 000打,每打的CIF西欧某港价为1.8
美元,运费总计为5000美元, 投保金额为发票金额的110%, 保险险
别为水渍险和战争险, 查中国人民保险公司的保险费率表, 水渍险
费率为0.3%, 战争险费率为0.4%. 问我方人民币净收入为多少
元?(当时中国银行外汇牌价: 100美元=826.49/828.97元)
2.我某出口公司按照CIF条件向某国出口一批草编制品,向中国人
民保险公司投保了一切险, 并规定用信用证方式支付. 我出口公司
交货并完成了议付. 第二天接客户来电, 称装货的海轮在海上失火,
货物全部烧毁, 并要求我公司出面向中国人民保险公司索赔, 否则
要求我公司退回全部货款. 问: 对客户的要求我公司该如何处理?
为什么?
260









1. ＣＩＦ合同发票金额应为：
１.8X60 000 = 108000美元
应付保险费按投保金额X 保险费率计,为
108000X110%X(0.3% + 0.4%) = 831.60 美元
FOB价为:
108000– 5000—831.60= 102168.40 美元
净收入人民币按银行美元买入价折算, 应为
8.2649 X 102168.40 = 844411.61 元
2. 我公司不 应理赔, 以CIF条件成交, 风险划分以转运港船舷为界,
其后的风险由买方负责, 货物在 运输途中灭失, 应由买方向保险公
司索赔.
261
Chapter Nine: International
Payments

1. Instrument

Bill of Exchange: A bill of exchange is defined as an
unconditional order in writing signed by the person(drawer)
as a buyer, and addressed to another person(drawee),
typically a bank ordering the drawee to pay a stated sum of
money to another person(payee), often the seller, on
demand of or at a fixed or determinable future time.
Drawer/ Drawee
Payee


262

263




2. Types of Bill of Exchange:
Banker’s draft/ Commercial draft
Sight draft, demand draft/ time draft, usance draft
Commercial acceptance draft/ banker’s acceptance draft
Clean draft/ documentary draft

3. Stages in handling a Bill of Exchange
 To draw
 Presentation and acceptance
264





Endorsement
Payment
Dishonor and recourse
Promissory Notes
A promissory note is any written promise to pay. It is a
negotiable instrument that is evidence of a debt contracted
by a borrower form a creditor, known as a lender of funds.
If the instrument does not have all the qualities of a
negotiable instrument, it cannot legally be transferred.
265



Check
A check is an unconditional order in writing drawn on a
banker signed by the drawer, requiring the banker to pay
on demand a certain sum of money to or to the order of a
specified person or to bearer.
The drawer of a check must be a depositor that keeps an
account current in the paying bank. The drawer of the bank
must be sure that the sum carried on the check is not more
than the amount he has deposited in the bank, or the check
will be dishonored.
266

2.Payment Methods:

Remittance refers to transfer of funds from one party to
another among different countries through banks. In
remittance, there are four parties involved: the remitter, the
beneficiary, the remitting bank and the paying bank.
 Mail Transfer(M/T)
 Telegraphic Transfer(T/T)
 Demand Draft(D/D)
267

Collection is the presentation for payment of an obligation
and the payment thereof. Under collection, the exporter
takes the initiative to collect the payment from the buyer.
Upon the delivery of the goods, the exporter draws a bill of
exchange on the importer for the sum due,with or without
relevant shipping documents attached, and authorizes his
bank to effect the collection of the payment through his
branch bank or correspondent bank in the country of the
importer. Collection can be either documentary collection
or clean collection.
268

Is most often used in the payment of goods in international
trade while clean collection is occasionally used in the
payment of payment balance, extra charges, or the like.
 The Parties Involved Under Collection
 Principal（委托人）
 Remitting bank（托收行）
 Collecting bank（代收行）
 Drawee（受票人、付款人）
 Varieties of Documentary Collection
 Documents Against Payment(D/P)
269

Documents Against Acceptance(D/A)

Letter of Credit
A letter of Credit is a payment term generally used for
international sales transactions. It is basically a mechanism,
which allows importers/ buyers to offer secure terms of
payment to exporters/sellers in which a bank(or more than
one bank) gets involved. The idea in an international trade
transaction is to shift the risk from the actual buyers to a
bank. Thus a LC is a payment undertaking given by a bank
to the seller and is issued on behalf of the applicant.

270

Parties involved:
The parties involved in a letter of credit include:applicant,
opening bank, advising bank, beneficiary, negotiating bank,
paying bank and confirming bank.
 Applicant is the party who applies for the opening of a
letter of credit, that is, the importer.
 Opening bank is the bank located in the importer’s country
that opens the letter of credit on behalf of the importer. By
issuing a credit, the bank assumes full responsibility for
payment after the proper drafts and documents have been
presented
271
Advising bank is the bank located in the exporter’s country
who informs the exporter that a letter of credit has been
opened in his favor and transfers the L/C to the exporter. It
is usually the correspondent of the issuing bank.
 Beneficiary is the bank in whose favor the letter of credit is
issued, and who is entitled to receive the payment, that is,
the exporter.
 Negotiating bank is the bank who buys an exporter’s draft
submitted to it under a letter of credit and then forwards
the draft and documents to the opening bank for
reimbursement. Usually the advising bank is also the
negotiating bank.

272

Paying bank is the bank that makes payment to the
beneficiary against presentation of stipulated documents. It
is usually the opening bank but can also be a third
designated bank.
Flow of a Documentary Credit:
The flow and life cycle of a sample Letter of Credit is the
following:
273




1. A commercial negotiation or purchase order is binding
the importer and the exporter.
2. Upon such a request from the exporter, the importer may
request the opening of documentary credit to its issuing
bank in favor of the exporter, hence becoming the
beneficiary of the credit.
3. The issuing bank advises the the documentary credit to
the bank of the exporter.
4. The bank of the exporter subsequently notifies (and it is
called advising bank) or confirms(and it becomes the
confirming bank) the letter of credit.
274

5. The next step is up to exporter who will have to ship the
goods ordered. The documents of transport required for the
completion of the transaction will be remitted to the
exporter typically by the shipping company.
 6. The exporter presents the whole set of documents
required in the terms of the Letter of Credit to its bank.
This bank will perform some document checking to ensure
their compliance with the terms of the documentary credit.
In case the bank had originally confirmed the credit or if a
discount is granted to the exporter, the payment will be
done to the exporter
275




7. The bank of the exporter is sending the documents to the
issuing bank who performs the payment or acceptance
after a thorough checking of the documents.
8. The issuing bank transfers the documents to the importer
and proceeds with the debit of its account for the principal
amount.
The Chief Contents of L/C
The chief contents of the L/C can be seen as a combination
of the chief contents of the sales contract, the required
documents and the bank assurance. It might be further
276

Broken into the following provisions:
The parties involved, including the applicant, the issuing
bank, negotiating bank, the paying bank, and the like.
 Remarks about the L/C: such as the number of L/C, its
type, the issuing date.
 The amount of the L/C.
 The clauses of the bill of exchange, such as the amount of
the bill, the drawer and drawee, the paying date.
 The clauses about the documents, what documents are
required, such as the invoice, the bill of lading, the
insurance policy, the packing list, the certificate of origin
277



And inspection certificate. Also, the required number of
copies of the documents, description of the goods,
specifications, quantity, packing, unit price, total amount,
mode of transport, place of unloading.
Particular clauses, such as the special provisions about the
deal in accordance with the particular business or political
situations of the importing country.
Guarantee clauses of the opening bank, which testifies that
the opening bank will hold itself responsible for the
payment to the beneficiary or holder of the draft.
278


The varieties of L/C
Revocable L/C and Irrevocable L/C
Revocable L/C , as the name suggests, means that it can be
canceled or modified by the issuing bank usually at the
will of the buyer without prior approval of the exporter at
any time before the documents have been paid or accepted.
The exporter’s losses could be substantial if the credit were
revoked halfway through the manufacturing process or just
before shipment. As it does not provide adequate security
for the exporter, revocable L/C is not used very frequently.
They are, however, used effectively for shipments between
affiliated companies and in other instances when there is
279


No doubt concerning creditworthiness and mutual trust
between the parties.
Irrevocable L/C is the one that cannot be modified or
rescinded by the opening bank without express permission
of all parties, including the exporter, importer, and
intermediary banks. The opening bank is irrevocably
committed to honor the exporter’s drafts provided all the
stipulations of the credit are met. Most credits are of the
irrevocable type.
280



Sight L/C and Usance L/C
Sight L/C means payment is immediately made to the
beneficiary on presentation of the stipulated documents
and on condition that all terms of the credit have been
complied with. It is advantageous to the exporter as he can
get the payment quickly.
Usance L/C or Time L/C implies that the seller is paid in a
specified number of days before the presentation of the
stipulated documents. It can be further divided into :
Banker’s acceptance credit and Deferred payment credit.
281


Transferable and None-transferable L/C
Transferable credits arise when the exporter is obtaining
the goods from a third party, say the actual manufacturer,
and, as the middleman, does not have the resources to buy
outright and await payment from his overseas customer.
The credit is established in favor of the middleman(the
prime beneficiary) and authorizes the advising bank to
accept instructions from the prime beneficiary to make the
credit available in whole, or in part, to one or more third
parties(the secondary beneficiaries). No letter of credit is
transferable unless specifically authorized in the credit and
this kind credit can be transferred only for once. When the
282



Credit is transferred, all conditions must remain as in the
original credit except that the amount of the credit,
quantity of goods called for and the unit price may be
reduced, or the period of validity and/or shipment may be
shortened.
None-transferable credit is one that cannot be transferred.
If a letter of credit is not included with “Transferable”, it is
a none-transferable credit.
Confirmed and Unconfirmed L/C
283

Confirmed L/C represents the obligation of the confirming
bank in the exporter’s locality, usually the advising bank. It
means the confirming bank guarantees payment if the
issuing bank cannot pay. Confirmation of the letter of
credit by the correspondent bank in the exporter’s country
is often requested by a seller who has little confidence in or
does not know the financial strength of the foreign opening
bank.
 Unconfirmed L/C means that the L/C does not have any
payment guarantee by a bank in the exporter’s country. It
284

Contains the obligation of the issuing bank only. This type
is usually used when the opening bank is of undoubted
reputation and financial strength or the transaction is small.
285








1.对外贸易合同中的价格条款应包括哪些内容？下列我国出口报
价是否正确，如不正确请予以改正。
（1） 每千克15美元FOB纽约。
（2） 每件3.50美元CIFC香港。
（3） 每只100欧元FOB上海净价减1%折扣。
（4） 每吨500日元CIFC天津。
2.某公司出口一批货物，已投保一切险和战争险，船抵达目的港
开始卸货时，当地忽然发生武装冲突，船上部分货物及部分已卸
到岸上的货物被毁，保险公司应如何赔偿?
3.一货轮从天津新港驶往新加坡，海运途中非因过失失火。为了
船货的共同安全，船方一面灌水灭火，一面雇佣拖轮将船拖回新
港修理，修好后再驶往新加坡。在此过程中发生的损失和费用有：
A.100箱货物被烧毁；B.600箱货物因灌水灭火而受损；C.主机和
部分甲板被烧坏；D.拖轮费；E.额外增加的燃料和工资。现判断
共同海损和单独海损。
286

4.出口斧头一批，共19.6公吨，14.892立方米，由上海装船经香港
转运至温哥华港。经查，上海至香港该货运费计算标准为W/M，
8级，基本费率为每运费吨20.50美元，香港至温哥华，计算标准
为W/M，8级基本费率为每运费吨60美元，另收香港中转费，每
运费吨13.00美元。试计算该批货物的总运费。



5.我向外发盘某商品每公吨3500美元FOB上海，对方要求改报
CFRC2%汉堡价，并以欧元计价和支付。查自中国口岸至汉堡的
运费为每公吨100美元，每1美元折合1欧元，假定近期内这两种货
币的汇率趋势平稳，可同意对方要求，应改报何价才能保证净收
入不变？（注：佣金按FOB净价支付）

287






1.每千克15美元FOB上海。
每件---美元CIFC2%纽约。
每只100欧元FOB上海净价。
每公吨500日元CIF纽约。
2.已卸到岸上的不负责。
3.共同海损：B/D/E 单独海损：A/C
288

4. 19.6×(20.50＋60＋13)=1832.6美元

5.FOB 价佣金为3500×2%=70欧元CFRC2%汉堡价应为
3500+70+100=3670欧元。

289

汇票和本票区别在哪？
其实本票是汇票的特殊形式，当汇票的出票人是付款
人时，汇票就成为了本票。具体的不同有：
 汇票有三个基本当事人，即出票人、付款人和收款人；
而本票有两个基本当事人，即出票人和收款人，而付
款人就是出票人。
 远期汇票需承兑才能付款，而远期本票无须办理承兑
手续。
 汇票在承兑前，出票人就是主债务人，承兑后承兑人
成为主主债务人；而本票在任何情况下，出票人都是
主债务人。

290

支票和汇票有何区别？

付款人的身份不同。支票的付款人是具有一定资格的
银行或其他金融机构；而汇票的付款人可以是银行，
也可以是工商企业或个人。
付款期限不同。支票的实质是代替现金的即期支付工
具，而汇票有即期和远期之分。
所以，支票其实是以银行为付款人的即期汇票。


291
Chapter Ten:Claims, Force Majeure
and Arbitration




Claims:
Breach of condition/ breach of warranty
Material breach / minor breach

Claims and settlement of claims
Discrepancy and claim clause 异议与索赔条款
Penalty clause 罚金条款

Force majeure

292

Arbitration
293


案例分析题
1. 我某公司向国外某商进口一批钢材,货物分两批装运,
支付方式为不可撤销信用证,每批分别由中国银行开立
一份信用证.第一批货物装运后, 卖方在 有效期内向银
行交单议付,议付行审单后, 即向该商议付货款, 随后中
国银行对议付行作了偿付. 我方在收到第一批货物后,
发现货物品质不符合同, 因此, 要求开证银行对第二份
下的单据拒绝付款, 但遭到开证行拒绝. 你认为开证行
这样做是否合理?
294

2. 我出口企业收到国外开来的不可撤销信用证一份, 由
设在我国境内的某外资银行通知并加以保兑. 我出口企
业在货物装运后,正拟将有关单据交银行议付时,突然该
外资银行通知, 由于开证银行已宣布破产, 该行不承担
对该信用证的议付和付款责任, 但可接受我出口公司委
托向买方直接收取货款的业务. 对此, 你认为我方应该
如何处理为好? 简述理由.

3. 中国从阿根廷进口普通豆饼2万吨, 交货期为8月底,
拟转售欧洲. 但, 4月份阿商 原定的收购地点发生了百年
未见的洪水, 收购计划落空. 阿商要求按不可抗力免除
交货责任, 问中方怎么办?
295

4. 某国公司以CIF鹿特丹出口粮食1000箱, 即期信用证
付款, 货物装运后, 凭已装船清洁提单和已投保一切险
及战争险的保险单, 向银行收妥货款, 货到目的地后经
进口人复验发现下列情况: (1) 该批货物共有10个批号,
抽查20箱, 发现其中两个批号涉及200箱内含沙门氏细
菌超过进口国的标准; (2) 收货人只实收998箱, 短少两
箱. (3) 有15箱货物外表情况良好, 但箱内货物共短少60
千克. 试分析以上情况, 进口人应分别向谁索赔, 并说明
理由是什么?
296
Chapter 11: Business Negotiation
and Establishment of Contract







1. Enquiry
2. Offer
Offer with engagement :
“firm offer” or “irrevocable offer”
Offer without engagement
3. Counter offer
4. Acceptance
297

案例题:

1. 北京一家公司向巴黎一家公司发盘, 其中规定有效期
到3月10日为止. 该发盘是3月1日以特快专递寄出, 3月2
日北京公司发现发盘不妥, 当日即 用电报通知巴黎公司
宣告撤回该项发盘, 问这样做是否可以? 发盘是否可以
撤回? 根据是什么?
2. 一法国商人于某日上午走访我外贸公司洽购某商品,
我方口头发盘后对方未置可否. 当日下午法商再次来访,
表示无条件接受我方上午的发盘. 那时, 我方已经获悉
该项商品的国际市场价格有趋涨的迹象. 对此, 你认为
我方应该如何处理? 为什么?

298
Chapter 12: Implementation of
Contract








1. Cargo Readiness:
注意事项:
▲备货前应仔细确认货物的品质和规格。
▲备交货物的数量应留有余地。
▲根据信用证要求对货物进行包装和刷唛。
▲装运时间应适当留有余地。
▲对须报验的货物，向检验检疫局申请报验。
▲应在检验检疫证书规定的有效期内出运货物。
299

2. Checking L/C
 ▲对开证银行资信的审核
 ▲对信用证性质的审核：国外来证必须是不可撤销的、
无追索权的信用证，否则会影响到出口商的收汇安全。
 ▲对信用证所列商品及货币和金额的审核。
 ▲对信用证装运期、有效期和有效地点的审核。
 ▲对单据要求的审核。
 ▲对特殊条款及批注的审核。
300
修改下列信用证：
 Letter of Credit No.19887
 The Chartered Bank
 Singapore, August 15, 2002
 To Bank of China, Beijing Branch
 Beneficiary China National Matels and Minerals Import
and Export Corporation.
 Er Li Goe, Hai Dian District.
 Beijing, China

301





Applicant YewHuai Hardware Co.
56 Sheppard Avenue West Suite 301
Singapore
Dear Sirs,
We open an irrevocable Letter of Credit for USD 30
000( U.S. Dollars THIRTY THOUSAND ONLY). This
credit is available by beneficiary’s draft, drawn on us , in
duplicate, without recourse, at sight, for 100% of the
invoice value, and accompanied by the following shipping
documents marked with the number:
302
(1) Full set of clean “ on board” “ freight collect” Ocean
Bill of Lading, made out to order and blank endorsed, and
notify applicant.
 (2) Invoice in quintuplicate copies, indicating Contract No.
 (3) Weight Memo/ Packing List in duplicate, indicating
gross and net weights of each package.
 (4) Certificate of Quality in duplicate issued and signed by
authorized person of applicant whose signature must
comply with that held in our bank’s record.
 (5) Insurance policy or certificate in duplicate endorse in
blank covering Ocean Marine Cargo Clause All Risks for

303

100 percent of invoice value as per CIC dated 01/01/1981.

Covering:
20 metric tons of 1000 kilos net each of GAMMA
PICOLINE, Purity 98%~99%, and USD 1500 M/T CIF
Singapore.
Packing: Packed in seaworthy new steel drums.
Shipment from China ports to Singapore. Partial Shipment
and transshipment is not allowed.
This Credit is valid in Singapore on or before Sep. 5 for




304



Negotiation and all drafts drawn under hereunder must be
marked “ Drawn under the Chartered Bank, Singapore,
Credit No. 19887”.
Documents should be presented within 3 days after the
date of insurance of the shipping documents but within the
validity of the Credit.
We hereby engage with the drawers, endorsers and bona
fide holders of bills drawn and presented in accordance
with the terms of this credit that the bills shall be duly
honored on presentation.
305

This credit is issued subject to Uniform and Practice for
Documentary Credits(1993 revision) ICC Publication
No.500.

Yours faithfully,
(Authorized signatures)


Special Instructions:
 ----- Documents prior to the issuance of this credit are not
acceptable.
 ------This credit is not transferable.
306

3. Booking shipping space
 1. 各出口公司在货证齐全后，根据外运公司船期表提
供的船期情况，填写托运单即订船委托书，并及时送
交外运公司。
 2. 外运公司按照托运单内容会同中国外轮代理公司
(外运公司)根据具体情况安排船只或舱位。然后将船名
通知托运的进出口公司并签发装货单并作为通知船方
收货装运的凭证。
 3. 外运公司代出口公司向指定的仓库提取货物送至码
头仓库。
 4. 出口货物在装船前都要办理报关手续。对于法定检
验商品或
307

信用证规定必须由商检局检验的商品并应事先报请商
检局检验出证。待海关查验放行后凭装货单装船。
5. 装船完毕后，由船长或大副签发大副收据。托运人
凭此向外轮代理公司交付运费并换取正式提单。

4 Documentation
货物装船后，出口公司应立即按照信用证的要求，正
确缮制各种单据，严格审核无误后，在信用证规定的
有效期内送交银行结汇。我国出口结汇目前有下列四
种方式。但不论采取那种方式均由结汇银行将应付外
汇按当日牌价折成人民币付给出口公司。


308


1. 即期结汇指即期信用证如有电报索汇等即期结汇
的条款。银行审核单据后于三日内结汇。
2. 买单结汇即押汇或议付指银行审核单据无误即以单
据作抵押，在扣除邮程利息后垫款结汇。
3. 定期结汇指银行结汇期限与押汇规定的邮程期限相
同。银行于到期时主动结汇，不扣利息。
4. 收妥结汇指银行将单据寄给开证银行并在收到开证
银行寄回偿付通知后再予结汇。
309
出 口 业 务 程 序 简 图
(以CIF并以信用证支付方式为例)
交易前的准备
调
研
国国
内外
外客
市户
场
制
订
出
口
经
营
方
案
交易磋商
合
和签订合同
同
广商
告标 询 还
宣注 盘 盘
传册
对
外
联
系
履
行
商
检
发
接
备
盘
受
货
签
订
书
面
合
同
验
收
进
仓
组准
织备
货仓
源储
的
催
开
信
用
证
托
装
运
运
审
证
租
船
、
订
舱
改
证
报
关
装
运
通
知
制交
单单
、
审
单
结
汇
或
押
汇
索
赔
或
理
赔
售
后
服
务
*
保
险
* 对于机械、仪器、设备等出口合同，卖方尚有售后服务和提供零配件的工作。
310


案例分析题:
1、我外贸公司与外商按ＣＩＦ条件签订一笔大宗商品
出口合同，合同规定装运期为８月份，但未规定具体
开证日期。外方拖延开证，我方见装运期快到，从７
月底开始，连续多次电催外商开证。８月５日，收到
开证的简电通知，我方怕耽误装运期，即按简电办理
装运。８月２８日，外方开来信用证正本，正本上对
有关单据作了与合同不符的规定。我方审证时未予注
意，交银行议付时，银行也未发现，开证银行以单证
不符为由，拒付货款。你认为，我方应从此事件中吸
取哪些教训。
311
Chapter 13: Trade Forms

一、代理、包销、经销和独家发盘

代理(Agency)

代理是国际贸易中的一种习惯做法，也是我国出口
贸易中正确选择和使用客户的一种贸易方式。代理是
指根据代理协议，由我国外贸出口公司给予国外客户，
在规定的地区和时期内，享有指定商品的代销权利。
代理人的种类很多，根据代理权限的大小，主要可分
为下列几种：
312




1. 总代理人
在指定的地区内是委托人的全权代表，不仅有权
代表委托人签订指定商品的买卖合同，处理货物等商务活动，还
有代表委托人办理其他事务的权利。
2. 独家代理人
指在协议规定的地区和时期内享有指定商品的
专营权利的代理人。委托人和代理人是一种委托代销关系，不是
买卖关系。在一般情况下，独家代理负责按照委托人规定的销售
条件，在市场上代为推销，收集订单，由实际买主与委托人双方
直接成交和执行合同，而独家代理人从中收取佣金，不负责垫付
资金和盈亏。在实际业务中，也有由我外贸出口公司与代理商直
接签订成交合同，由其负责执行。在独家代理的条件下，委托人
如直接与买方达成交易，应保留代理人约定的佣金。
独家代理关系的建立是由双方签订协议来确定。
独家代理协议的主要内容有：
–
–
–
–
(1) 代理商品的品种和地区；
(2) 代理协议有效期的起讫日期和撤约或续约办法；
(3) 代理期间的最低代销数量或营业额；
(4) 权利和义务，如在协议有效期内，委托人不得在协议规定地区出
313

售协议规定的商品给其他客户；代理人不得同时经营与代理商品
相同或类似的商品；代理人按委托人所规定的销售条件收集订单，
但委托人有权根据市场情况调整价格，并通知代理人遵照执行；
代理人要经常向委托人提供市场情况调查报告等。
–
–
–
–




(5) 代理商品的价格条件和付款方式；
(6) 代理人的佣金；
(7) 广告宣传和费用负担；
(8) 其他，如政府间的贸易不受约束。
3. 一般代理人
指不享有专营权利，其他内容和独家代理相同
的一般代理户。这种代理是代表货主在当地市场收集订单，买主
和委托人成交后收取一定佣金。委托人在同一市场可选择一家或
几家客户作为一般代理商。委托人与其他客户成交不保留给一般
代理商雇金。
一般代理商不享有独家代销的专营权，因此不承担在一定时期
内销售一定数量商品的义务。一般代理协议可参照独家代理协议
的上述内容。
二.包销和经销(exclusive sales and distributorship)
1. 包销是出口人通过协定，把指定的商品，在一定时期内对特定
314


地区的出口给包销人以独家经营权利或专营权利。出口人与包销
人之间的关系为买卖关系。包销人应保证在一定期限内承购一定
数量或金额的商品，在特定地区内自行销售，自负盈亏。
包销关系的建立，由双方签订包销协议所确定。包销协议的一般
内容为：
(1) 包销商品的品种与包销地区；
(2) 包销协议有效期的起讫日期和撤约或续约办法；
(3) 包销期间的最低销售数量或金额；
(4) 包销专营的权利和义务，如在协议有效期内不得在协议规定的地
区出售协议规定的商品给其他客户；包销人不得经营其他来源的同
一或类似商品；经常向出口人提供市场情况调查报告的义务等。
– (5) 包销商品的价格条件和付款方式。
– (6) 广告宣传和费用负担。
– (7) 其他，如政府间贸易不受约束。
–
–
–
–

2. 经销是指由出口人授权经销人在一定地区销售指定的商品，其
内容和包销基本相同。但一般经销人有经销权而没有专营权利。
在同一地区，我外贸出口公司可同时选择一个或几个经销商。经
315

销人与出口人是买卖广关系，经销人均自行购进商品，自行销售，自负
盈亏。
经销协议一般可参照包销协议的内容。
316




二、 加工装配、来样定制和补偿贸易
（一）. 来样加工和来件装配业务
来样加工和来件装配业务的主要优点在于对扩大社会劳动就业，
筹措企业资金，引进国外先进适用的技术、设备和科学管理方法，
了解国际市场信息，提高我国出口产品的质料和档次，增加国家
外汇收入等，都会起到十分积极的作用。这种把利用外资、引进
技术和劳务出口三者结合在一起的综合性贸易方式，既有利于发
挥我劳动力资源丰富而价廉的优势，又避开了我国部分资源当前
比较缺乏的短处。可更多地利用国际市场的原材料加工出口，多
创外汇，振兴经济。
这两项业务(1)有利于我某些工厂解决进口设备和部分原材料
的困难；(2)有利于从中学到一些国外先进技术和管理方法；(3)有
利于促进我出口产品花色品种的改进和提高；(4)有利于我国增加
资源，扩大出口；(5)有利于劳务出口。
1. 来料加工，是指由国外商人提供原料、辅料、包装物料、或
部分有关的机器设备、仪器、工具、摸具等，委托我国有关工厂
加工成所需要的成品出口。有的是全部由对方来料；有的是部分
由
317

对方来料，而另一部分原材料和辅料由我方解决。这种做法，有
时也叫做“带料加工”。这一类加工产品的质量、规格、式样、
商标等往往是由商人按照国际市场需要提出的。加工生产出来的
成品，一般都交给对方，负责包销。我方向对方收取加工费用。
对方提供的原料和机器设备等货款，一般由对方预先垫付，然后
在我方出口成品的货款中或加工费中逐步扣除。

2. 来件装配，是指国外厂商提供零件，部件和元器件以及装配
所需的设备和技术，交我方有关工厂按对方提供的图纸或样品进
行组装，成品全部交给对方自行销售，我方只收取组装费用。对
方提供的设备和技术等的价款，一般由对方预先垫付，然后用我
方组装费逐步归还。


3. 来料加工和来件装配业务的一般规定：
对于来料加工和来件装配业务，各国营或集体企业均可承接，
但没有对外经营权的公司或企业开展这一项业务时，必须由外贸
公司代为签约或共同对外签约。签约后，外贸公司与企业共同承
担执行合同中生产和交货等方面的责任。但出口配额商品和实行
许可证管理的商品要报当地经贸厅(委、局)和中央经贸部审批。
对大宗的国家统一经营的商品，我国特有的和传统的出口商品以
及国家暂停进口、限制或控制进口的生产设备进行来料加工的商
品，一般不允许搞来料加工。承接来料加工和装配业务的生产企
318

业，均可在银行开立外汇专户。开展此二项业务的企业除可享受
工缴费外汇留成外，还可享受一定时期内减免税收的优惠待遇等。

4. 来料加工和装配业务进出口一般手续：
– (1) 料件进口前：首先是经营出口单位填报申报表并附经双方
签定的合同副本(均一式两份)，向主管单位办理报批手续，经
海关确认无误后核发«加工装配和中小型补偿贸易进出口贸易
货物登记手册»，供日后作为海关免税放行的凭证。还有须向
中国银行送交合同副本和核准的报批表，供日后银行对外汇
留成分配依据用。
– (2) 料件进口时：当进口货物海运到达目的港时，填写来料加
工进口报关单一式四份，一份自己留底备查，其余一式三份
并附上国外正本提单向外轮代理公司换回的国内提单，、国
外货物的发票、装箱单、«登记手册»以及进口地海关所需交
验的其他有关单证，向港口办理进口手续。货物进口地如是
机场、铁路。其所办手续与港口的略同，但均需在规定时间
内及时办理手续和提货，否则将要收取滞报金和货物保管费
等。
319

(3) 成品出口时：要事先向外运公司办理货物托运手续；要按规定
向海关办理出口报关和料件核销手续；货物一出运要按双方约定
的支付方式向有关银行办理结汇手续。

5. 来料加工和来件装配业务应注意下述问题：
1). 重点对工缴费要很好核算并参照国际市场水平，注意经济效益。
2). 要明确品质、规定、型号、包装等标准，便于双方验收，同时标
准要订得合理；要明确损耗率、成品率和副次品的处理方法，损耗
率、成品率也要订得合理。
– 3). 对国内配套的原辅材料、元器件、包装物料等要作好衔接安排。
– 4). 不要冲击正常出口贸易，不打乱正常的出口销售渠道，不能影响
我出口同类商品的价格掌握。
– 5). 要严格执行“重合同、守信用”的原则，按时、按质、按量对外
履行交货义务。
–
–


（二）.来样定制
来样定制主要是为了适应国外市场需要，由外商提供来样，我
外贸进出口公司按来样做成成品出口。但来样往往是国内不销，
国外仅销一个地区或一个商户的商品。一般来说，只要来样内容
320


健康，均可接受定制，但必须考虑我国的原料和生产、加工能力
等各方面的条件。如超过我方生产和加工条件，则不应接受
来样定制有三种情况：一是提供实样；二是除实样外还要提出对
商品的具体品质、规格和要求；三是还要提供必要的说明书，说
明其构造、用料、性能和使用方法以及必要的图纸和技术资料等。
来样定制实际上是凭样品买卖，而凭样品买卖的基本要求是：以
样品作为交货品质的唯一依据，卖方所交货物必须与样品完全一
致。因此，来样定制最主要是把它的品质和规格搞明确。对客户
来样或来图必须进行认真的分析研究，一经接受，与客户明确交
货条件，并做出回样，经买方认可后，凭以成交和交货。这种做
法，实际上是把凭买方样品的买卖变为凭卖方样品的买卖，使卖
方能主动掌握交货的品质，但所交货物的品质不得低于样品。在
对外签订合同时，应规定交货数量允许有上下变动的幅度数。来
样定制往往用商人的定牌商标，或中性包装。由于来样定株系特
殊要求。为防止日后发生纠纷，可在合同或协议中订明对买方有
约束性的条款，如预收一定盯金、循环信用证等，以保障我方的
利益。
321

（三）. 补偿贸易
补偿贸易是从国外进口机器、设备、技术、劳务、物资，约定
一定期限，用产品或劳务去偿还货款。由于偿还的方式不同，又
可分：
– (1) 回购：即由买方用进口设备所制造的产品直接偿还货款；
– (2) 互购：即买方不是用进口设备直接生产的产品去偿还，而是用对
方能够接受的别的产品或劳务去偿还。

补偿贸易实际上是一种商品信贷。目前我国与某些国家和地区
开展的中小型补偿贸易在筹措资金方面一般采用两种办法：
– 1) 由外国设备提供者向他们的银行直接贷款，为我方垫付进口设备
的资金，然后我方以返销产品偿付贷款和银行利息；
– 2) 由我方直接向外国银行贷款，然后用返销产品收入的外汇偿付银
行的本息。

补偿贸易是近几年来我国灵活贸易的一种新的做法。采用补偿
贸易这一方式，事实证明对于利用国外的设备、技术和资金，以
发展我们的生产能力，改进产品质量，扩大出口贸易，增加外汇
收入和劳动就业都有着积极作用。
322

补偿贸易应注意下述问题：
(1) 选择进口设备要确保设备的先进性和适用性。进
行补偿贸易要防止外商把更新替换下来的设备出售给
我们。我们自己也不要盲目引进，防止引进设备不适
用，为偿还贷款带来困难。
– (2) 要遵循友好协商，平等互利的原则，价格要合理，其他贸
易条款也必须是互利的。
– (3) 补偿贸易中最关键的问题是用什么偿还设备的贷款，中小
型补偿贸易一般应采用直接产品进行补偿。至少也应当是部
分采用直接产品，部分用间接产品进行补偿。
– (4) 偿还期的长短，货币的选择和利率的多少，都要进行通盘
的考虑，认真做好核算工作。
323



三、投标、易货、寄售、拍卖、租赁
（一）. 投标
投标是投标人根据招标人规定的条件和所列的商品，在规定的有效期
内进行报价，争取达成交易的一种方式。国际上一些国家政府机构、大
型企业、公用事业单位等，经常采用招标方式来采购较大量的物资，如
机器设备、建筑材料、军用品或兴建某项工程等。这一业务的程序一般
包括招标、投标和开标3个环节，具体做法是：
– 1. 先由招标人发出通告，公布拟采购商品的规格、数量、交货期以
及投保条件、期限等。欢迎各方的卖主参加投标。
– 2. 投标人按照招标人通告的要求和条件，在规定期限内报出价格，
进行投标。根据招标人的规定，一般投标人还要付一定的押金。
– 3. 开标时，招标人根据各投标人的报价和其他条件，进行比较，选
择对其最有利者为得标人
324

投标与一般的进出口贸易做法的区别：
(1) 投标业务不通过双方反复磋商，只按照招标人提出的条件进行
交易。
(2) 投标人根据招标人的要求，以一次密函报出自己的价格和其他
条件能否比其他竞争者优惠而被招标人所接受。没有讨价还价的
余地。
(3) 招标是在规定的时间和地点、公开或不公开进行，由许多卖主同时
投标，以价格和条件最优惠者取胜，因此，投标人之间的竞争比较
激烈。一般说，招标人比较主动，处于有利地位。


（二）. 易货
易货的原义是物物交换，是一种古老而原始的做法。今天我们
对外经济贸易中的易货贸易虽然基本形式还是以货物互相交换，
但内容已经完全不同了，有了许多新的特点。总的讲，凡两国政
府或民间团体达成的易货协议以及进出口厂商的易货合同所进行
的贸易，都叫易货贸易或换货贸易。今天我们所进行的易货贸易，
双方交换的货物，基本上都是通过货款支付结算，双方都承担互
购等值货物的义务。双方可以用单一商品进行交换，货款逐笔平
衡；也可以签订易货协议或合同，规定在一定时期内，用多种出
口商品交换另外多种进口商品，货款综合平衡，分别结算。目前
我国与一些国家签订的某些政府或民间贸易协定进行的贸易，就
其性质来说，基本上是属于易货贸易。
325

易货贸易的支付办法：
1). 是对开信用证，即双方各自开立以对方为受益人，金额相等或
大体相等的信用证。
2). 是记帐办法，即在双方约定的一定时期内购买对方一定等值的商品
的义务前提下，由双方指定的银行互设帐户，双方出口的商品由银
行记帐，一定时期后相互抵冲，如有余额，则由逆差一方用现汇或
商品支付。双方进口和出口余额基本平衡。



易货贸易对于贯彻平等互利，互通有无的原则，对于本身商品
难于推销，进口又缺少现汇的国家和地区，对于打破某些国家实
行封锁禁运或贸易壁垒等具有一定的积极作用。但易货贸易很难
满足双方的供求一致，做法也不够灵活，双方易货额，一时也难
平衡，谁先出超多，谁就不利。因此易货贸易也存在一定缺点，
影响贸易的进一步扩大。
（三）. 寄售
寄售，即出口人把货物运往国外，委托事先约定的代销人，按
照寄售协定规定的条件和办法，在当地市场代为出售的方式。商
品出售后，所得货款扣除受托人的佣金和费用后，汇交寄售人。
326




寄售贸易方式的特点和利弊是：
1. 采用寄售贸易方式，寄售人不是凭买卖合同把货物运交代销人，
而是根据双方订立的寄售协议或货物运交代销人代售；寄售人与
代销人之间不是直接买卖关系，而是一种委托代销关系。代销人
只是一个收取佣金的受托人。他除了受寄售人的委托照料货物，
并按照寄售人的旨意出售货物外，对货物本身没有所有权；货物
从出运至销售以前所发生的风险和一切费用，均由寄售人负担。
2. 采用寄售贸易方式，有利于国外买主看到现货，易于成交；
对开辟新市场，推销某些新产品，处理一些库存积压商品等有一
定的作用。
3. 采用寄售贸易方式，从寄售人出运到代销人售出，其间时期往
往较长，费用增加；由于货物出售后，才能收回货款，因此寄售
人要积压一部分流动资金，不利于周转；如遇到寄售所在地区外
汇管制加严时，即使货物已经销出，仍有货物不易调回的风险，
收汇不安全。
因此，我们采用寄售贸易方式时，要根据不同商品的特点和市
场具体情况以及销售意图，有选择地进行。
327


（四）. 拍卖
拍卖是拍卖行接受货主的委托，在预先约定的时间和地点，按
照一定的章程和程序，在拍卖行主持下，公开叫价，把商品卖给
出价最高的买主的一种特殊贸易方式。成交后，货主付给拍卖行
一定的租金和手续费。
其特点是：
– 1. 买卖时间短、成交量大。特别是一些大型国际拍卖，供货来源多，
有各种不同质量的商品，货主和买主集中前来，形成了一种具有国
际影响的拍卖市场。
– 2. 公开竞购。一般都是公开出价，互相竞购，由出价最高者购买，
具有公开的竞争性。
– 3. 出价方式多种。众多的购买者出价，根据不同商品拍卖特点和习
惯，可分：



(1) 增价拍卖，拍卖人宣布最低价后，由买主竞相加价；
(2)减价拍卖，拍卖人先开出最高价，然后由拍卖人逐渐降低开价；
(3)密封递价，事先由拍卖人公布专家对某批商品的估价，然后购买人用
密封信件把自己的给价寄交拍卖人。
– 4. 现货买卖。拍卖行按接受货主委托后，先把货物整理好，发出通
告或刊登广告，说明货物的品种、存放地点、邀请购买者前来看货，
拍卖时以出价最高者当场成交。是一种先看货，后出价的现货交易。
328





国际上拍卖市场的商品，大多数是一些品质规格非标准化的商品，
不能长期保存或历史上有拍卖习惯的商品。这些商品主要有：茶
叶、皮毛、羽毛、烟草、麻类、咖啡、可可、水果、工艺品、古
董、字画等。
目前，国际拍卖市场主要集中在伦敦、纽约以及各种专业产品的
主要消费市场。
（五）.租赁
租赁是将设备较长期地租给用户的一种贸易方式。出租的设备，
多为动产，而用户对象则以企业为主。租赁期长短，以不同设备
而定，通常都在两年以上。租期内用户要按期向租赁公司支付设
备原价、利息和手续费。
当前国外从事租赁贸易的公司一般有三种形式：
– 1) 是金融租赁公司，是银行、保险公司等金融机构附设的租赁公司，
拥有资金或利用银行资金，向制造商购买生产设备，向用户出租；
– 2) 是专业租赁公司，自筹资金，从制造商那里购得机器设备，储存
待租或用户选定项目，由专业租赁公司购买后出租；
– 3) 是制造商租赁公司，即本身就是生产企业，用其制造的产品向用
户出租。
329

现代租赁业务与老式的出租概念不同：
a 是现代租赁一般已不再是个人的需要，而是以企业为主，为解
决投资资本不足的一种筹资方法；
– b 是现代租赁对象一般已不再是仅限于不动产，而主要是生产设备，
包括办公机械、医疗机械、农业机械、运输设备、电讯设备、汽车、
建筑机械，直至各种大型成套设备和设施等；
– c 是现代租赁业务的规模正在不断扩大，租赁时间也越来越长。国际
上出现了一批专门经营此项业务的租赁公司。
租赁贸易对制造商、出租人和租用人各方面都有一定的好处：

1. 对制造商来讲，租赁贸易也是销售的一种渠道，特别是资本主义
经济衰退，市场对机器设备需要减少时，利用租赁贸易的优惠条件
可以为工厂所生产的过剩设备找到一定市场，从而扩大销路。通过
租赁贸易，制造商只要将设备交给租赁公司后，即可获得设备的全
部货款，这对加速资金周转是有关的。
– 2. 对出租人来讲，如果金融租售公司，通过租售贸易，扩大了金融
业务，为资金投放找到新出路，而且以设备和应收租金作为担保，
大大减少贷款风险；如是专业租赁公司，将设备作为向银行借款的
抵押，这就易于得到银行通融资金的方便。
–
330

3. 对租用人来讲，利用租赁贸易方式进口是筹措资金的一种方式，
只要先支付少量外汇就可取得所需设备；租赁贸易可减轻企业投
资风险，因为在当今技术发展较快的领域；设备的升级换代很快，
企业进行长期巨

额投资的风险较大，通过租赁贸易，这些就由租赁公司予以承担；租赁
公司在金融和投资方面都有专门研究的人才，租用人可获得公司提供的
包括设备维修、保养、更换零件以及技术和管理等方面的咨询服务。

诚然，租赁贸易对租用企业也有不利的方面：对租赁设备，只
有使用权，没有所有权，因此设备的使用时间和地区受到限制，
不能自由更动；租赁费用较高，除设备原价外，租赁公司还要收
取利息和手续费；出租人如是制造商，为了保持其有利的竞争地
位，一般不愿意出租最先进的设备。
租赁贸易的租金，包括三个方面的内容：

– (1) 是设备的原价(成本价格加利润)；
– (2) 是利息；
– (3) 是租赁公司的手续费。

租赁贸易设备价格的支付方式，是采取限期份额的支付。支付
期限一般为3~5年。支付年限的长短，主要是依据租赁设备的
331

年限，以及价值的大小而定。在支付年限内，分几次
支付设备的租赁费，由双方具体商订。每次支付租金，
一般可参照下列公式：

每次支付租金=租赁设备价格+利息+手续费/支付次数
租金的支付在实际运算和执行进程中，要复杂得多，
如年利率多少，租赁所花总金额和进口分期付款总金
额的比较，设备发生故障和损坏，在修理期间的租金
计算等。

332

案例：

法商利用Ｌ／Ｃ欺诈案
1996年10月，辽宁省某外贸公司 与法国S公司签定了第一笔对法
国出口3个集装箱，约30万美元的冻扇贝柱合同。付款方式为远期
信用证，提单日期后45天付款；货物装船前由CCIB及SGS中国办
事处检验。该合同执行顺利，货款于12月中旬全部按时收回。在
执行合同的同时，S公司 又要求签定第二笔9个集装箱约95万美元
的合同，外贸公司与该公司签定了第而笔合同。付款方式仍采用
远期信用证，但改为提单后60天付款；交货期为12月底至1997年2
月底，分批装运；其他条款与第一 笔合同相同。由于第一笔合同
的货款安全收回，第二 笔合同的第一个集装箱于12月26日装船发
运（该票货款于 次年2月24日按时收回），第2个~8个集装箱的货
在1月15日至1月26日期间装船发运，最后一柜于2月28日发运。

333



1998年3月16日为第二个货柜付款日，就在第二个货柜付款日临近
时，3月10日，S公司发来传真请求该票延期30天付款，理由是货
物的含水量及卫生方面超过了法国规定的标准，需要时间来处理
该票货。外贸公司当即明确表示，货物出口前已经过CCIB和SGS
严格的质量和细菌检验，不会存在这样的问题，不同意延期付款。
当时，中方银行已收到对第2~8个集装箱到期付款的承兑。
3月12日，外贸公司收到法国地方商业法院致付款行的停止支付货
款命令的传真。该只止付令止付了包括2月24日已付款的一票，共
计7个货柜，78万美元的货款。
法院的止付令理由是：根据S公司的律师提供的材料，由于货物
的含水量超过了法国规定的标准，该批货物不能在法国销售，而
CCIB出具的证书，虽然标明是符合法国的标准的，但显然该证书
是由外贸公司伪造的，属故意欺诈行为。因此，可以不执行跟单
信用证的有关条款。上述货款暂时冻结在有关银行的特殊帐户上，
334




时间是3个月。该命令在24小时内，用电传通知各方，在8天内正
本送达，同时注明了有关各方如认为有必要可以请求取消本止付
令（外贸公司自始至终没有收到正本）。
外贸公司提出置疑，但S公司对出口公司的置疑避而不答，而是
回复：要么赔偿35，000美元的损失，将四个柜的货物退回中国；
要么向法国农业部正式报告，由法国卫生检疫部门销毁货物。后
一种方法当然对S公司有利，可以迅速取回冻结的货款。但外贸
公司为了重视与出口方的合作，还是愿意采取第一种方法。
外贸公司在与法国的律师接触中，法国律师未能认真对待外贸公
司的委托并误导中方采用双方协商解决的方法为好。
与此同时，S公司由于受到本国银行的 压力以及货款冻结时间的
迫近，也更频繁地向外贸公司施加 压力，于5月16日发出最后通
牒：外贸公司5月20日前必须接受S公司的要求，否则将货物交给
335



卫生检疫部门销毁。外贸公司担心货物真的被销毁，与5月20日与
S公司达成协议。即：外贸公司赔偿4万美元；S公司将货权转移
给外贸公司；撤消止付令；S公司，A公司协助出口公司销售这批
货物。
后由于货物的保质期越来越近，虽经多方联系，终未再寻到对此
货感兴趣的新客户，1998年1月，出口公司只得接受降价条件，转
移了货物所有权。货物在法国市场上由法商销售。
后查实S公司已经申请破产，A公司是S公司老板以其妹妹名义在
英国注册的公司，这个公司又在法国成立了分公司，人员由S公
司的原班人马组成。出口公司直接经济损失达200多万元。
336