Bộ câu hỏi ôn tập Tiếng Anh chuyên ngành 2 FTU

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Ngày đăng: 02/12/2016, 08:45

Mog mog CHAPTER 10 When is a contract binding? 1,What are steps in negotiating delivery? After the signature date Timing, Location, Transport, Risk title and insurance, terms of trade 11 When is a contract binding and effective? 1.2, Why is delivery date important? After the date of coming into force Because it lies at the heart of a sales contract, it’s key to many contract event 12 How does the date of coming into affect the delivery date? 2,Why is location important? The delivery date is normally fixed for a certain days after the date of coming into force Transfer risk and Responsibilities, Date of payment depends on palce of delivery 13 What is excused delay? Why is transportation important? 14 What are the outcomes of FM? Costs, Appropriate type Resumption of delivery, Termination of contract, Unclear and dangerous situation What are modes of transportation? Sea transport, Air transport, Inland transport (by road, by rail, by barge, by mail, or by mixture) In the grace period, Due to FM 15 What are liquidated damages? 5,Where is risk often passed from the exporter to the importer? A fair figure, a lump sum to be paid per day ( week or month) of late delivery, agree by both parties At the point of delivery 16 What are penalties? Where does transfer of ownership take place? A fucking high figure used to threaten the exporter to achieve acceptable quality At any point between the signature of the contract and the final payment for the goods 17 When people pass risk and title of the goods ? How many kinds of delay in delivery? On delivery Excusable delay, Non- excusable delay 18 Name types of risks? What events does delivery date trigger? risk of loss and damage, Risk of goods injuring the third party Exporter fulfills duties under the contract, Payment may become due, Risk and title pass to the buyer 19 Name types of Insurance policy? How to fix delivery date? To use a straightforward calendar date or interval times 9.1 The way to write down the delivery date? Use a straightforward calendar date -Floating policy, Open cover: Both offer the exporter insurance cover on all shipment over a period of time Floating policy has policy on each shipment Open cover is not a policy, the insurer will write a policy if required - Valued policy, when the exporter insures the goods, the value of the goods is stated This way he can include both the cost of the good and Mog mog the expected profit he could make Unvalued policy: the exporter insures the Goods and the value is not stated (unvalued policy), then the value can be established after a loss, the exporter must prove his figures precisely A bank -Time policy: goods are insured Voyage policy: insured between two places What are the two main elements in payment? Liquidates damages between two dates Penalties Quasiindemnity Predict (know in advance) Doesn’t know In theory Sum is normally and fair in advance Agreed by parties before putting Not very fair clause in contract Not agree in Sum of money doesn’t depend on advance factural loss ♥NOTE: Who can offer export credit insurance? An insurance company Time, Structure What does the exporter have to suffer from late payment? Bank interest 10 What is an incentive for early payment? A discount 11 How to fix payment date? A calendar date, Interval times 12 When delay in payment is excused? Shipping documents: the marine bill of lading, the airway bill, the rail consignment note, the road consignment note Combined transport uses a combined transport bill of lading CHAPTER 1,Why payment in international trade tightly controlled? Trust is rare, Court is far away and unpredictable Delay happens in the grace period, Delay is caused by Force Majeure 13 What payment does the importer have to pay the exporter in case of late payment? Compensation for losses due to late payment 14 What kind of method of payment makes late payment impossible? 2.What are the common methods of payment in international trade? The confirmed, irrevocable, at- sight L/C Open account with no security, Open account with secured by export credit insurance, Open account with secured by payment guarantee, Payment by letter of credit Exporter may reduce risk by spreading risk with the third party What are methods of payment in small purchases? Cash on delivery, Cash against invoice, Cash with order What are payment insurances? Bank guarantee, Export credit insurance 15 What may reduce risk for exporters? 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 17 What can we imply when the insurance company refuses to offer an insurance quotation? Who can offer bank guarantee? Mog mog The insurance company knows the buyer’ uncreditworthiness, The business is risky 24 The insurance fee have to pay depend on: 18 What does the insurance premium depend on? types of goods, the credit worthiness of the buyer, the political stability of the importer country The type of the goods, The creditworthiness of the buyer, The stability of the buyer’ country and so on ♥NOTE: 19 What is the guarantee triangle? 1.The At-sight Letter of Credit and the Alternatives That is the relationship of the principal, guarantor and beneficiary in terms guarantee Settlement by sight Payment 20 What are the business situations which commonly use guarantee? Settlement by Acceptance - Non- payment: Payment guarantee - Revocation: Tender guarantee - Non- performance: Performance guarantee - Losing prepayment: Prepayment guarantee 21 Name types of L/C you know? - Revocable – Irrevocable: revocable L/C can be cancelled at any time by the buyer or by the issuing bank - Confirmed- Unconfirmed: A confirmed Letter of Credit is understood as the letter of credit to which a confirmation is added by a nominated confirming bank Confirming bank means the bank that is asked to confirm the credit by an issuing bank - At- sight L/C, - Back to back L/C, Settlement by Deferred Payment Settlement by Negotiation 2.The Letter of Credit and its Associated Documentation - Commercial invoice - Transport documentation: sea transport, air transport, rail transport, road transport and combined transport The type required is stated in the L/C 3.Special problems related to transport document There are some problems arising in specific circumstances when transport document is used as follows: Shipment by sea: The carrier could issued a marine bill of lading, or a sea waybill to the exporter Shipment by air: The carrier could issued an Air waybill, Certificate of Origin(C/O) is required for import to the buyer’s country under a preferential tariff or other agreement - Revolving L/C 22 when can use payment account method? Long term biz relation, depends on situation (keep large inventory), not very large contract value 23 ads of open acc: encourage high revenur, offer preferensor condition Certificate of Inspection can make importing easier The parties should make a note in their contract if this document is required 3.Negotiating the Terms of a Letter of Credit - Agreement, Incorporation, Specification, Verification, Compliance CHAPTER 3 Mog mog 1,What are steps in negotiating Defect Liability Period? Inspection, terms, definition, timing, corrective action Apparent defects that can be discovered on inspection (wrong items, broken or missing parts…) Why companies have quality assurance programs? 11 What is latent ( hidden ) defect? The quality of the product is a key issue, and customer satisfaction is essential to successful business so many companies have qualities assurance programs to ensure that customers get what they pay for Hidden defects that need a period of time to come to light (structural weaknesses, failure to operate at high or low temperatures) Why conflicts may arise in negotiating specifications? Warranty claims buyer can make even if exporter doesn’t express it in the contract The marketing department wants to sell brilliant products, but the production department can’t make them What is the benefit of a well- designed set of specifications? It offers vital protection the both sides The importer is protected against inferior products And the buyer will be unable to find any excuse for rejection or for exaggerated warranty claims Which kind of goods need pre- delivery inspection? Sophisticated items or capital equipment What are the functions of independent inspection? Prevent exporter and buyer agreeing an unrealistically low invoice price to avoid custom duties in the buyer’s country Prevent shipment of patently defective goods What does customs inspection reveal? Customs inspection will reveal discrepancies in weight, size and description What is the real inspection for goods? 13 What are Implied Warranties? 14 What are types of Implied Warranties? Implied warranty of conformity with contract, Implied warranty of merchantable quality, Implied warranty of fitness for intended purpose 15 What is the main different between Warranty and Guarantee? Warranty Guarantee - a promise about your own - a promise about somebody else’s performance performance - a promise by the exporter to cure defects in his products - a promise of the guarantor - an absolute undertaking on the part of the warrantor 16 What is a Product Warranty? A product warranty is a promise by the exporter to cure defects in his products 17 What is a Product Guarantee? Buyer’s inspection – open package inspection A guarantee is a promise of the guarantor about somebody else’s performance How to set the Defect Liability Period? 18 What are the types of defects? Give examples The defects liability period is negotiable, this is likely to be several months from the date of delivery or the date of arrival - defective workmanship: a product with defective workmanship is incorrectly built 10.What is patent ( open) defect? - defective materials: inferior or somehow incorrect - Defective design: does not make specifications Mog mog 19 What is not a defect? 3.Give the main characteristics of Anglo-American Law? Not a defect cover: two common exclusions are fair wear and tear and misuse by the buyer Fair wear and tear is the result of normal use Misuse is seriously incorrect handling by the buyer Goals: Justice in the individual case 20 What does the Defect Liability Provision often mention? A standard provision mentions the three types of defect, it states a date on which the products were free of defects, it excludes problems caused by misuse or wear and tear, and it establishes the exporter’s duty – to cure the fault 21 What are the Timing problems in Defect Liability Period? The Defect Liability Period , the Notification Period, The Rectification Period, The Legal Action Period 22 What are the options for curing Defects? Repair, allow the buyer to repair at exporter’s cost, replace(part or whole item), reduce the price, return the goods and refund the price CHAPTER Predictability and consistency of court decisions: Unless matters are carefully regulated in the contract, the decision of the judge is not fully predictable Different judges may give widely different judgment Length and detail of contract: To be clear, contracts must regulate many issues, so they tend to be long and detail International acceptance: English and American law have been relined over the centuries to cope with issues of international trade The principles are widely understood and respected What does the applicable law govern? if a problem is not mentioned in the contract, it shall be referred to applicable law what are the principles of an enforceable contract? A contract is enforceable only if - the parties achieve a “meeting of minds” through a process of offer and acceptance 1.What are differences between Anglo-American Law and Continental Law? - both sides are capable of entering a contract As below What is the entire agreement? Give the main characteristics of Continental Law Most international contracts include an “entire agreement provision” contributed by the background of the contract, contract documents and definitions Goals: Consistency and uniformity of enforcement Predictability and consistency of court decisions: Decisions in all but the most difficult cases are predictable with some accuracy Decisions are generally consistent from court to court Length and detail of contract: Because the law regulates most problems, contracts can be short and lacking in detail International acceptance: Continental laws not have the prestige of Anglo – American laws in international practice They tend to focus on national rather than international issues - the purpose of the contract is legal what is the whereas recital? Why is it necessary? When the Contract is the “entire agreement”, the lawyers write the background of the Contract into it through the whereas-recital what is discharge by performance? Is the Contract reaches its end normally what is termination? Mog mog 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 - Its tendency to be quicker than ligitation (no lengthy appeals procedure) 10 what is cancelation? - Costs are extremely high Cancellation occurs when either party puts an end to the contracts for breach Not any breach allows cancellation by the other party - Many costs 11 what is rescission? Rescission occurs when the two parties agree to end a contract In legal theory, they enter a new contract to annul the old contract The term “rescission” is used in other contexts than a mutual agreement to end a contract, international contract drafting would benefit if it were not 12 what are the ways to slove disputes? Give the definition of each type? - Litigation: litigation before the court is internationally the least attractive: it is public, expensive and time – consuming The results are often legalistic rather than business – like - Amicable settlement and conciliation: Resolution of Disputes: The Buyer and the Seller shall make every effort to resolve amicably by direct, informal, negotiation any disagreement or dispute arising between them under or in connection with the Contract - Arbitration: If the two sides cannot reach agreement between themselves, the resolution of their dispute requires a forum that is a court of law unless the parties specify otherwise In practice, most contract specify otherwise calling for arbitration 15 what are the disadvantages of usuing a panel of arbitrators? 16 what are the advantages of using a court? 17 what are the disadvantages of using a court? 18 give the definition of contract documents? Give some exemples It is the documents that the two sides often wish to “incorporate” outside material into the contract: letters, general conditions, Incoterms… 19 when parties to contract have to agree on the language of contract? What is the agreement Two roads: - The parties say nothing at all, in a dispute, the judge decides which version to trust - the parties make two version equally authoritative, again, the judge decides which version to favor 20 what are the conditions for a arbitration panel venue? 13 what is a panel of arbitrators? It is courts set up by arbitrators to settle disputes between the parties of the contract 14 what are the advantages of usuing a panel of arbitrators? - Privacy - Business experience of the arbitrators
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