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    Group Assignment Chapter 5

    Uploaded by

    Uyen Tran
    The document is an international sale contract between ABC Trading Co, Ltd. of Vietnam as the seller and NZ Co, Ltd. of Japan as the buyer. It specifies coffee as the commodity with a quality and quantity of 500 metric tons +/- 5%, priced at $1,200 per ton for a total of $600,000. Payment is to be made by an irrevocable letter of credit opened by September 16, 2020 for 100% of the invoice value. Delivery of the goods on a CFR basis is required by September 16, 2020 from Osaka port to Saigon port, allowing for partial shipments with the first being 200 metric tons and not allowing for tranship

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Group Assignment Chapter 5

    Uploaded by

    Uyen Tran
    184 views2 pages
    The document is an international sale contract between ABC Trading Co, Ltd. of Vietnam as the seller and NZ Co, Ltd. of Japan as the buyer. It specifies coffee as the commodity with a quality and quantity of 500 metric tons +/- 5%, priced at $1,200 per ton for a total of $600,000. Payment is to be made by an irrevocable letter of credit opened by September 16, 2020 for 100% of the invoice value. Delivery of the goods on a CFR basis is required by September 16, 2020 from Osaka port to Saigon port, allowing for partial shipments with the first being 200 metric tons and not allowing for tranship

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    GROUP ASSIGNMENT CHAPTER 5

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    The document is an international sale contract between ABC Trading Co, Ltd. of Vietnam as the seller and NZ Co, Ltd. of Japan as the buyer. It specifies coffee as the commodity with a quality and quantity of 500 metric tons +/- 5%, priced at $1,200 per ton for a total of $600,000. Payment is to be made by an irrevocable letter of credit opened by September 16, 2020 for 100% of the invoice value. Delivery of the goods on a CFR basis is required by September 16, 2020 from Osaka port to Saigon port, allowing for partial shipments with the first being 200 metric tons and not allowing for tranship

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    184 views2 pages

    Group Assignment Chapter 5

    Uploaded by

    Uyen Tran
    The document is an international sale contract between ABC Trading Co, Ltd. of Vietnam as the seller and NZ Co, Ltd. of Japan as the buyer. It specifies coffee as the commodity with a quality and quantity of 500 metric tons +/- 5%, priced at $1,200 per ton for a total of $600,000. Payment is to be made by an irrevocable letter of credit opened by September 16, 2020 for 100% of the invoice value. Delivery of the goods on a CFR basis is required by September 16, 2020 from Osaka port to Saigon port, allowing for partial shipments with the first being 200 metric tons and not allowing for tranship

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    GROUP ASSIGNMENT CHAPTER 5

    Analyzing the errors and missing of the following terms and conditions,
    and correct the international sale contract?

    INTERNATIONAL SALE CONTRACT


    Date: September 16, 2020

    Party A: ABC Trading Co, Ltd. (Vietnam)


    Hereinafter referred to the Seller

    Party B: NZ Co, Ltd. (Japan).


    Hereinafter referred to the Buyer
    Both parties have agreed to sign the contract with the following terms and conditions:

    1. Commodity: Coffee
    2. Quality: As shipment in last month
    3. Quantity: 500 T more or less 5%
    4. Price:
    - Price to be understood FCA or CFR
    - Unit price: USD 1,200/T
    - Total amount: USD 600,000

    5. Payment:
    Payment by irrevocable L/C to be opened not later than September 16, 2020, for
    100% of invoice value, in favor of the seller.
    - Issuing bank: HSBC Bank, Japan.
    - Notifying bank: Vietcombank, HCM City, Vietnam.

    6. Delivery: Delivery of goods will be made CFR.


    - Time of delivery: Latest date of shipment will be September 16, 2020.
    - Port of shipment: Osaka port
    - Port of destination: Saigon port
    - Partial shipment: allowed; The first shipment of 200 MT;
    - Transhipment: not allowed
    - Notice of shipment:
    ü The Buyer will advise the Seller the name of vessel not later than three
    (03) days before shipping date by fax.
    ü Within 05 days from the shipment date the seller must fax to the buyer
    the following documents: Invoice, Detailed Packing List, Bill of
    Lading, Certificate of Insurance.

    7. Shipping documents: The buyer will present following documents:


    − Invoice
    − Certificate of Quantity and Quality
    − Bill of Lading marked "Freight collect at destination” made out to order of
    bank.
    − Certificate of Insurance
    − Certificate of Origin form D
    9. Insurance: will be covered by the Seller by All Risk Policy
    10. Force majeure: will notify when force majeure occurred.
    11. Arbitration: All disputes arising out of this contract or breach thereof which
    cannot be settled amicably by the parties concerned shall be settled by
    Arbitration Center. The award of this organization shall be final and
    binding upon both parties.
    12. General terms: This contract will come into force from the signing date.

    FOR THE SELLER FOR THE BUYER

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