The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) that are widely used in International commercial transactions or procurement processes. A series of three-letter trade terms related to common contractual sales practices‚ the Incoterms rules are intended primarily to clearly communicate the tasks‚ costs‚ and risks associated with the transportation and delivery of goods. The Incoterms rules
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We first must assume that INCOTERMS were negotiated and agreed to between Siemens and NB Power‚ the incoterms used would play a key role in determining where the liabilities lay Based on David Hays statement “Frankly‚ Siemens is responsible to deliver fully functioning turbines to us at Point Lepreau.” We can assume one of the following incoterms was used in the contract between Siemens and NP Power. For example‚ if the INCOTERMS used in the contract between Siemens and NB power were DES
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in agreement with CISG Articles 75 and 76. Articles 75 and 76 summarizes to that if a contract was avoided under a breach of contract‚ and the
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contract forms issued by trade associations. Alternatively‚ the Exporter may choose to make reference in his own conditions of sale to sets of standard trade terms‚ for example‚ Incoterms or Intraterms‚1 the former sponsored by the International Chamber of Commerce under the title of Incoterms 2000. (now known as INCOTERMS 2010)‚ the latter a set of terms developed to eliminate‚ by the use of plain language‚ in a “register easily understood by traders”‚ any doubts as to the meaning of terms. Even
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ACCA Paper F4 (GLO) Corporate and Business Law For exams in 2012 Notes theexpgroup.com ExPress Notes ACCA F4 (GLO) Corporate and Business Law Page | 2 © 2012 The ExP Group. Individuals may reproduce this material if it is for their own private study use only. Reproduction by any means for any other purpose is prohibited. These course materials are for educational purposes only and so are necessarily simplified and summarised. Always obtain expert advice on any specific issue. Refer to our
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Implied Contract (c) Implied & Express Contract 3. Explain briefly 4 EU Directive: (a) EU Directive Protection of Consumers in respect of Distance Contract (b) EU Directive on Unfair Contract Terms (c) (d) 4. Explain briefly : (a) CISG (b) UNCITRAL (c) UNIDROIT 5. Explain: (a) SOGA (Sales of Goods Act) (b) UETA (Uniform Electronic Transaction Act) (c) ESIGN (Electronic Signatures in Global & National Commerce Act) (d) UCITA (Uniform Computer Information Transactions
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Special permits for special goods 6. Insurance certificate 7. Health certificate especially for food products/animal products Incoterms ////International Commercial Terms - used in international trade to determine: 1. who (buyer/importer or seller/exporter) payes the freight 2. at what point (where) is the product changing ownership Incoterms are defined by the international chamber of commerce located in Paris ////Destination‚ country of importation Buyer‚ Purchaser‚ Consignee
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EXPPRIN Understanding International Trade Theories Agenda – Week 1 International Trade Classical Trade Theories Modern Trade Theories Trade Barriers Balance of Payment Incoterms 2 What is International Trade? International Trade • International trade is the exchange of capital‚ goods‚ and services across international borders or territories. • This type of trade gives rise to a world economy‚ in which prices‚ or supply and demand‚ affect and are affected by
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these essential factors. In the first part‚ this essay will advance the importance of foreign culture which include the country ’s background‚ usual practice and protocol. In the second part it will show important aspects of transport methods and incoterms. Finally‚ this essay will present the international payment methods of the bank transfer and letter of credit. An important part of international exchange is to understand the foreign culture of a country in terms of background‚ practice and
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Ch.4: Culture Monday‚ May 20‚ 2013 2:01 PM -Interpret pictures differently -different countries have different perceptions of Americans -Polychronic- "without schedule" -Monochonic- with schedule -Direct culture- communicated through words -Indirect culture- message is not implicated by words but by things in context -High Context- body language‚ silence‚ behavior ‚ collectivism‚ polychronic -low context- predominantly through explicit statements in text or speech ‚ with feeling‚
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