Dịch hợp đồng - Question and Answer

What does the exporter have to suffer from late payment?. What does the exporter have to suffer from late payment?. What does the importer have to pay to the exporter in case of late pay

Question Review

Question 1

Explain the differences between liquidated

damages and penalties ?

LD: Purpose: To compensate the buyer fairly

for any delay in delivery

Enforceable everywhere

Penalties: Purpose: To terrorize the exporter

into punctual delivery

 What is a guarantee? Name at least three

types of guarantees

 Guarantee is a (written) promise by the

Guarantor to pay money to the beneficiary if the principal breaks its promise OR,

 A guarantee is a promise about somebody

 Name three types of defect and two common exclusions of defect

 Three types of defect: Defective

workmanship, defective materials, and

defective design.

 Two exclusions: Fair Wear and Tear, and

Misuse

 How do the Anglo-American law systems differ from the Continental law systems in terms of predictability and consistency?

regulated in the contract, the decision of the

judge is not fully predictable Different judges may give widely different judgments.

predictable with some accuracy Decisions are generally consistent from court to court.

 Briefly describe the parties involved in the issuance of an L/C

 Applicant: the Buyer in an export contract

 Beneficiary: the Seller in an export contract

 Issuing bank: the Buyer’s bank in the

importing country

 Advising bank: the Seller’s bank in the

exporting country.

warranty and is involved in endless

responsibility for the goods.

 What are the similarities and differences

between arbitration and litigation processes?

 Both are mechanism for settling disputes

 Litigation: public, expensive, time-consuming, results are legalistic rather than business-like

 Arbitration: quicker than litigation, costs are foreseeable

 What are the 3 outcomes of Force Majeure?

 Resumption of delivery

 Termination of contract

 Unclear and dangerous situation.

 What does the insurance premium depend on?

 The type of the goods

 The creditworthiness of the buyer

 The stability of the buyer’ country and so on

 When does termination happen to contracts?

 Termination occurs when either party

pursuant to a power created by agreement or law puts an end to the contract otherwise

than for its breach / (one party bases on the agreement or law to end the contract.

 When is delay in payment excused?

 What are implied warranties?

 When can either party to contract terminate the contract?

CHAPTER: II

Q & A

2.What are the common methods of

payment in international trade?

- Open account with secured by export Open account with secured by

18

CHAPTER: II

Q & A

4 What are payment insurances?

19

CHAPTER: II

Q & A

5 Who can offer bank guarantee?

21

CHAPTER: II

Q & A

9 What does the exporter have to

suffer from late payment?

29

CHAPTER: II

Q & A

9 What does the exporter have to

suffer from late payment?

- Bank interest

30

CHAPTER: II

Q & A

11 How to fix payment date?

33

CHAPTER: II

Q & A

12 When delay in payment is excused?

35

CHAPTER: II

Q & A

12 When delay in payment is excused?

36

CHAPTER: II

Q & A

13 What does the importer have to pay

to the exporter in case of late payment?

37

CHAPTER: II

Q & A

13 What payment does the importer

have to pay the exporter in case of late payment?

- Compensation for losses due to late

payment

38

CHAPTER: II

Q & A

14 What kind of method of payment

makes late payment impossible?

39

CHAPTER: II

Q & A

14 What kind of method of payment

makes late payment impossible?

- The confirmed, irrevocable, at- sight

L/C

40

CHAPTER: II

Q & A

16 In order to take out non- payment

risk, what does the exporter have to

do?

43

CHAPTER: II

Q & A

16 In order to take out non- payment

risk insurance, what does the exporter

have to do?

- Contact an insurance company and

explain the details of the business,

applies for a quotation from the

insurance

44

CHAPTER: II

Q & A

17 What can we imply when the

insurance company refuses to offer an insurance quotation?

45

CHAPTER: II

Q & A

17 What can we imply when the

insurance company refuses to offer an insurance quotation?

buyer’ uncreditworthiness

46

CHAPTER: II

Q & A

18 What does the insurance premium

depend on?

so on

48

CHAPTER: II

Q & A

19 What is the guarantee triangle?

49

CHAPTER: II

Q & A

19 What is the guarantee triangle?

- That is the relationship of the

principal, guarantor and beneficiary in

terms guarantee

50

CHAPTER: II

Q & A

19 What are the business situations

which commonly use guarantee?

51

CHAPTER: II

Q & A

19 What are the business situations

which commonly use guarantee?

CHAPTER: II

Q & A

20 What are the guarantees used in

the business situations such as : -Non- payment

53

CHAPTER: II

Q & A

20 What are the guarantees used in

the following business situations?

CHAPTER: II

Q & A

20 Name types of L/C you know?

55

CHAPTER: 1

2 Why is location important?

palce of delivery.

58

CHAPTER: 1

3 Why is transportation important?

59

CHAPTER: 1

4 What are modes of

transportation?

61

rail, by barge, by mail, or by

mixture)

62

CHAPTER: 1

5 Where is risk often passed from

the exporter to the importer?

63

CHAPTER: 1

5 Where is risk often passed from

the exporter to the importer?

- At the point of delivery.

64

CHAPTER: 1

6 Where does transfer of

ownership take place?

65

CHAPTER: 1

6 Where does transfer of

ownership take place?

- At any point between the

signature of the contract and the final payment for the goods.

66

CHAPTER: 1

7 How many kinds of delay in

delivery?

67

CHAPTER: 1

8 What events does delivery date

trigger?

69

70

CHAPTER: 1

9 How to fix delivery date?

71

CHAPTER: 1

9 How to fix delivery date?

- To use a straightforward calendar

date.

72

CHAPTER: 1

10 When is a contract binding?

73

CHAPTER: 1

10 When is a contract binding?

- After the signature date.

74

CHAPTER: 1

12 How does the date of coming

into affect the delivery date?

76

CHAPTER: 1

12 How does the date of coming

into affect the delivery date?

- The delivery date is normally fixed

for a certain days after the date

of coming into force.

77

CHAPTER: 1

13 What is excused delay?

78

CHAPTER: 1

13 What is excused delay?

79

CHAPTER: 1

14 What are the 3 outcomes of

FM?

80

CHAPTER: 1

15 What are liquidated damages?

82

CHAPTER: 1

15 What are liquidated damages?

- Normally the exporter and the

buyer agree a fair figure, a lump sum to be paid per day ( week

or month) of late delivery The

Compensation fixed in advance

is called liquidated damages.

83

CHAPTER: 1

16 What are penalties?

84

CHAPTER: 1

16 What are penalties?

- Damages are paid to compensate

one party for a loss.

85

CHAPTER: 1

17 When do people pass risk and

title of the goods ?

- On delivery

86

CHAPTER: 1

18 Name types of risks?

87

CHAPTER: 1

18 Name types of risks?

party.

88