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Home / Questions / NAMETAGE DERNIOTU No 0008 Paints Signature 1 Choose one night answer from

NAMETAGE DERNIOTU No 0008 Paints Signature 1 Choose one night answer from

NAMETAGE DERNIOTU No +0008 Paints * Signature 1. Choose one night answer from four alternatives for all of the following statementi (15 x 2 Points) 30 pelats 1. Who pays loading cost for shipment under FOB? ( ) A Seller B. Buyer c. Carrier D. Freight forwarder 2. Which one is a trade term under arrival contract? ( ) A CIF B. CPT c. FCA D. DAT

3. Who is responsible for carrying out customs formalities for exports under an Exw contract? ( ) A. Exporter B.Importer C. Carrier D. Supplier 4. Which party usually takes the initial application of a international facoring? ( ) A. Exporter B. Importer C. Advising Bank D. The remitting bank

5. If an exporter finds out any mistake on a received L/C, which partner should he contact at first in order to amend the L/C? () A. advising bank B. importer C. confirming bank D. issuing bank 6. Which document should be finished at first and as basic document in the exporting procedure ? ( ) A. Bill of lading B. letter of credit C. inspection certificates D. commercial invoice * 1 # 6 port or shipment wording to resci s ) A. the carrier the export D. the inspect body

8. Which type of insurance coverage cannot be staly spplied for according to China Insurance Clause? ( ) A. Free from Particular Average B. With Particular Average C. War Risk D. All Risks 9. A bill of lading without name of a definite consignee or the consignee box left blank or open, or bearing the wording "To bearer" is aan( ) A. open B/L. B. straight B/ L c . Order B/L D. direct B/L 10. What is the reason for partial shipment. ) A. ships sailing direct not available B. shipping space unavailable C. destination not along the sailing route of the liner service D. direct sailings being few and far between

11. A sales contract could be concluded under two stages : ). A. Offer and counter-offer B. Inquiry and acceptance C. Inquiry and offer D. Counter-offer and acceptance 12. Which kind of marks can help avoid shipping errors and quickens the identification? ( ) A. Shipping marks B. Warning marks C. Supplementary marks D. Indicative marks 13. Which party will draw the bill of exchange and take the risk of payment in the collection procedure? ( ) A Importer B. Exporter C. Remitting bank D. Collecting bank

14. Which one can not be taken as a type of claim in the trade? ( ). A. claim regarding selling and buying B. claim regarding transportation * 2 #6 II. Tror (15 ) 30 p ts 8 2 Incoterm is focusing only the delivery of t he goods CIPACIF y or waterway w portamode For all arrival contracts, time of shipment means time of delivery. Partial average is caused by intentional measures taken to save the common interest Importer may break a contract by not applying for Letter of credit in time as agreed in the contract, - There are different carriage contracts needed in interational Multimodal Transportation. If the remittance is made by a banker's demand draft, this payment is based on bank credit _ Insurance certificate has the same legal validity as an Insurance Policy. 10. Inspection at the port of destination (also landed quality and weight) is more favorable to the seller.

11. The date on bill of lading is usually earlier than the date on parking list. 12. Under L/C, the issuing banks deal with documents and involve in any detail of the actual transaction. 13. It is always suggested to take the name of commodity based on the standard name from the code of HS. The arbitration fee shall be paid in advance to the Arbitration Commission ...When force majeure event takes place, the party concemed has no choice but to terminate the contract. 38 3 #61 II. Calculation of the preprand the date of pay (14 )

1. The exporter provided the Hemsalpice USD 500 per M/T CIF Singapore. The importer center offered FOB Ninghe price including 2% discount. The freight for Ningho Singapore is supposed to be USD 20 per M/T and insurance premium is USD S per M/T. To keep the same export revenue, what should the exporter quote a new price based on FORD1% Ningbo? (4 points) 2. An exporter authorized a broker to sell of commodity stocks at value USD 200 000 based on CIFC2% Hamburg. He also granted a 1% discount to Importer in the original contract value. How much discount and commission should exporter pay? (4 Points)

3. An exporting Company planned a price quotation at USD 800 M/T CIFC2% Bangkok. If the freight costs is USD 50 per M/T, and insurance premium is USD 5 per M/T, the purchasing price of the product is RMB 3000 Yuan per M/T, the domestic direct and indirect costs per MT will be account for 15% of purchasing price per MT, please calculate the total costs of export, the net income from the export and the exporting conversion cost of foreign exchange. If the current exchange rate is 6.8 RMB/USD, is it profitable from the export? (6 Points) V. Case Studies Please state your analysis, then, give your conclusion. (12 points) An exporter applied for a collection business of D/P at sight by a remitting bank. Following the exporter's

instructions, the remitting bank mailed the full set of documents together with a collection instruction to a collecting bank in the U.S. One week later, the principal claimed that the importer required the remitting bank to change "D/P at sight into "D/A after 30 days sight". The remitting bank's warning about the high risk of DIA. But the exporter insisted on the change, so the remitting bank sent a modification instruction. Two month later, the collecting bank never sent the notice of acceptance. Finally, the principal asked the remitting bank to instruct the collecting bank to send back the documents.

However, the remitting bank received the returned documents only to find that one of the three original bills of lading was missing. In fact, the goods had been picked up by the importer. The exporter lost the cargos and payment! 1. Should the collecting bank ensure to collect payment by importer? (4 pts) 2. Is there any mistake made by the exporter by changing the mode of payment from D/P at sight into D/A 30 days after sight? (8 pts) (Please state your argumentation in about more than 50 words) IV. B e to the following us (1) State the reporting please (6 points) with me (2) What should your concerns in stimulating inspection clause in a sales contract ? (4 pts) (3) What are the contract terms in an insurance policy? (4 points) #

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