This document provides definitions and explanations of various terms related to international trade and contracts. It addresses topics like bills of lading, letters of credit, delivery terms, warranties, defects, contract formation and performance, arbitration, and more. Key points covered include how bills of lading can be made negotiable, what a confirmed letter of credit is, when contracts are formed and discharged, common contract exclusions like fair wear and tear, and the advantages of arbitration.
This document provides definitions and explanations of various terms related to international trade and contracts. It addresses topics like bills of lading, letters of credit, delivery terms, warranties, defects, contract formation and performance, arbitration, and more. Key points covered include how bills of lading can be made negotiable, what a confirmed letter of credit is, when contracts are formed and discharged, common contract exclusions like fair wear and tear, and the advantages of arbitration.
This document provides definitions and explanations of various terms related to international trade and contracts. It addresses topics like bills of lading, letters of credit, delivery terms, warranties, defects, contract formation and performance, arbitration, and more. Key points covered include how bills of lading can be made negotiable, what a confirmed letter of credit is, when contracts are formed and discharged, common contract exclusions like fair wear and tear, and the advantages of arbitration.
A cut-off date is common in _______fixed-price______ contracts as a long
delay can make the price unrealistic. (1 Point) 2. A bill of lading can be made ___Negotiable document__________ by typing the word “to order” in the consignee box. (1 Point) 3. Quasi-indemnity is a lower amount to the real loss of delay in delivery. (1 Point) 4. Unless the letter of credit states otherwise, insurance coverage on a CIF or CIP shipment must be for ______110%______ of the CIF (or CIP) value of the goods. (1 Point) 5. A time to time coverage is under a time policy while a point to point coverage is under a _______voyage______ policy. (1 Point) 6. The bank notifying the exporter that the letter of credit has been opened is called the __advising bank__. (1 Point) 7. A commercial invoice must be made out to the ____applicant____ for the letter of credit (normally the Buyer), unless otherwise stated in the credit. (1 Point) 8. A ______confirmed_______ Letter of Credit is guaranteed by a second bank in addition to the bank that opened it. (1 Point) 9. The products with ___defective workmanship___ are incorrectly built. (1 Point) 10. The products with ______defective design_______ do not meet specifications. (1 Point) 11. When the goods arrive, if they are ___defective____, the importer can reject them but if they meet specifications, he is obliged to accept them. (1 Point) 12. Inspection by the ____Buyer_____ is called “open package inspection”. (1 Point) 13. ____Implied warranties_____are assumptions about the goods made by the buyer, even if the exporter gives no express warranty. (1 Point) 14. The problems of eternal warranty can be avoided by a ___cut-off clause___. (1 Point) 15. _________Latent___ defects are hidden and come to light later. (1 Point) 16. _____Continental Law________ is also called a Roman Law or Civil Law. (1 Point) 17. If both parties perform their duties correctly, a contract is discharged by _______performance___________. (1 Point) 18. Termination for default occurs when the contract names certain ____defaults____ which allow one side to terminate it. (1 Point) 19. A contract comes into force when an offer is made by one side and _____accepted_______ by the other. (1 Point) 20. A well-designed set of specifications protects buyer against _____inferior______ products. (1 Point) 21. A marine bill of lading must have "_____________" notation in order to be acceptable under payment by an L/C. (1 Point) a. upon board b. off loaded c. shipped d. shipped on board a named vessel 22. The grace period is sometimes used to _____________. (1 Point) a. delay delivery b. postpone delivery c. make delivery d. facilitate early delivery 23. The contract is binding and effective on _____________. (1 Point) a. effective date b. signature date c. delivery date d. payment date 24. Which of the following notes does not make B/L claused? (1 Point) a. unboxed b. packaging soiled by contents c. packaging broken d. goods scratched 25. What aspects of the goods does the carrier (the transportation company) inspect? (1 Point) a. the contents of the goods b. the Bill of Lading c. the Commercial Invoice d. the packaging and the appearance of the goods 26. When the goods are delivered Ex works, the place of delivery is _____________. (1 Point) a. The buyer's warehouse b. The seller's port of departure c. The seller's plant d. The carrier's premises 27. Which of the following insurance clause offers the minimum coverage? (1 Point) a. Institute Cargo Clause A b. Institute Cargo Clause B c. Institute Cargo Clause C d. Institute Cargo Clause D 28. Which mode of payment is most favoured by the Importer? (1 Point) a. Open account b. Letter of credit c. Cash in advance d. Collection 29. In the guarantee triangle, who plays a role of the guarantor? (1 Point) a. Bank b. Importer c. Exporter d. Shipping company 30. _____________ protects the risks of revocation. (1 Point) a. Tender guarantee b. Payment guarantee c. Performance guarantee d. Prepayment guarantee 31. What can be called “guarantee without demur or objection”? (1 Point) a. Conditional guarantee b. Demand guarantee c. Performance guarantee d. Prepayment guarantee 32. “Documents are not presented within the required time” is a problem with _____________. (1 Point) a. Letter of credit b. Insurance c. Bill of lading d. Bank 33. If the exporter presents the discrepant documents, the bank will _____________. (1 Point) a. refuse to pay b. check the documents c. forward the document d. accept to pay 34. Export Insurance Premium does not depend on _____________. (1 Point) a. Types of goods exported b. The buyer’s creditworthiness c. Political Stability in the buyer’s country d. The situation in the exporter’s country 35. The exporter’s right to “cure” any defects in his delivery is __________________. (1 Point) a. out of question b. advantageous to him c. disadvantageous to him d. detrimental to him 36. _____________ is the time allowed for the Seller to make good the defects. (1 Point) a. The defects liability period b. The rectification period c. The notification period d. The legal action period 37. _____________ is the period during which the Exporter must be liable and must make good the defects both patent and latent. (1 Point) a. The defects liability period b. The rectification period c. The notification period d. The legal action period 38. _____________ are common exclusion of defects. (1 Point) a. Fair wear and tear b. Misuse c. Abuse d. Fair wear and tear & misuse 39. Disclaimer of warranty often accompanies __________________. (1 Point) a. contracts for hardware b. contracts for footwear c. contracts for glassware d. contracts for software 40. Allowing the buyer to repair the equipment at the exporter’s cost __________________________. (1 Point) a. is always the best choice for the exporter b. is always the worst choice for the exporter c. is often safe for the exporter d. is often unsafe for the exporter 41. Returned shipment to the exporter’s country means _________________. (1 Point) a. the deal is a total loss for the exporter b. the exporter takes back the whole shipment c. the exporter makes a small profit d. the deal is a total loss for the importer 42. Which of the following examples is a latent defect? (1 Point) a. Missing parts. b. Structural weaknesses. c. Wrong items. d. Broken items. 43. In contracts, the “partial invalidity provision” means the invalidity of one part of the contract __________. (1 Point) a. may invalidate the rest b. does not invalidate the rest c. affects the rest d. enforces the rest 44. The official mailing addresses of the parties are given in _____________. (1 Point) a. the Notices b. the Appendices c. the Exhibits d. the Adoption 45. Anglo-American law does not bring ___________ to all cases. (1 Point) a. differences b. uniformity c. variations d. different solutions 46. A contract is not enforceable if _________. => đáp án nào ạ (1 Point) a. it is signed within power b. it has a legal purpose c. it has an illegal purpose d. it has no purpose 47. In international practice, problems of assignment of rights and delegation of duties can be reduced by using ___________________. (1 Point) a. prior written consent of the other party b. prior conversation of the other party c. prior consultation of the other party d. prior talk to the other party 48. The advantages of arbitration are _________________. (1 Point) a. privacy and foreseeable costs b. lengthy and open c. binding and rigid d. time-consuming 49. The answers to background questions are written ____________. (1 Point) a. through the whereas-recital b. through the annex c. through provisions d. through conditions 50. Under the public law, a company can only sign a contract _____________. (1 Point) a. even when they lack powers b. that is beyond its power c. in case of ultra vires d. that is within its power 51. This Agreement sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject matter. No promise, condition, representation or warranty, express or implied, not set forth in this Agreement shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty. None of the terms or conditions of this Agreement may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.01. Hợp đồng này đưa ra toàn bộ sự hiểu biết tổng thể và thỏa thuận của các bên về các vấn đề trong đó và thay thế cho bất kỳ đàm phán và thỏa thuận giữa các bên trước đây về các vấn đề trong hợp đồng này. Không có cam kết, điều kiện, đại diện hoặc bảo hành rõ ràng hoặc mặc nhiên, nếu không được đưa ra trong hợp đồng này sẽ ràng buộc bất kỳ bên nào trong đây, và không có bên nào dựa vào các cam kết, điều kiện, đại diện và bảo hành này. Không có điều khoản hoặc điều kiện nào của Hợp đồng này có thể được thay đổi, sửa đổi, từ bỏ hoặc hủy bỏ bằng miệng hoặc bằng cách khác, ngoại trừ bằng văn bản và phù hợp với Mục 10.01. 52. The Seller shall be excused from delays in delivery and performance of other contractual obligations under this Order caused by acts or omissions that are beyond the reasonable control and without the fault or negligence of Seller including but not limited to Government embargoes, blockades, seizure or freeze of assets, delays or refusals to grant an export license or any other acts of any Government, fires, floods, severe weather conditions, or any other acts of God, quarantines, labor strikes or lockouts, riots, strife, insurrection, civil disobedience, war, material shortages or delays in deliveries to Seller by third parties. If the excusable delay circumstances extend for six months, either party may, at its option, terminate this Order without penalty or liability and without being deemed in default or in breach thereof. (10 Points) Người bán sẽ được miễn trách nhiệm trong/đối với việc giao hàng muộn và trong/đối với việc thực hiện nghĩa vụ khác của hợp đồng theo Đơn đặt hàng này mà gây ra bởi các hành vi thiếu sót hoặc sơ suất nằm ngoài tầm kiểm soát hợp lý của người bán, bao gồm nhưng không giới hạn đối với các lệnh cấm vận, phong tỏa, thu giữ hoặc đóng băng của Chính phủ về tài sản, sự chậm trễ hoặc từ chối cấp giấy phép xuất khẩu hoặc bất kỳ hành vi nào khác của bất kỳ Chính phủ nào, hỏa hoạn, lũ lụt, điều kiện thời tiết khắc nghiệt, hoặc thiên tai, kiểm dịch, đình công hoặc bế xưởng, bạo loạn, xung đột, nổi dậy, bất tuân dân sự, chiến tranh, sự thiếu hụt nguyên liệu hoặc sự chậm trễ trong việc giao hàng cho Người bán gây ra bởi các bên thứ ba. Nếu các trường hợp trì hoãn kéo dài trong vòng sáu tháng, một trong hai bên, tùy theo lựa chọn của mình, có thể chấm dứt Đơn đặt hàng này mà không bị phạt hoặc chịu trách nhiệm pháp lý và không bị coi là có lỗi hoặc vi phạm hợp đồng 53. The Buyer shall inspect and accept, or reject products delivered pursuant to the Order immediately after Buyer takes custody of such products. In the event the products do not comply with the applicable Seller’s drawings or specifications, the Buyer shall notify the Seller of such nonconformance and give the Seller a reasonable opportunity to correct any such nonconformance. The Buyer shall be deemed to have accepted any products delivered hereunder and to have waived any such nonconformance in the event Seller does not receive notification that the products delivered hereunder do not comply with the Seller’s drawings or specifications, within fifteen (15) days after the Buyer takes custody of such products. (10 Points) Người mua sẽ kiểm tra và chấp nhận hoặc từ chối các sản phẩm được giao theo Đơn đặt hàng ngay sau khi Người mua có quyền quản lý các sản phẩm đó. Trong trường hợp các sản phẩm không tuân thủ các bản vẽ hoặc thông số kỹ thuật hiện hành của Người bán, Người mua sẽ thông báo cho Người bán về sự không phù hợp đó và cho Người bán cơ hội hợp lý để sửa chữa. Người mua sẽ được coi là đã chấp nhận bất kỳ sản phẩm nào được giao dưới đây và miễn trừ mọi sự không phù hợp như vậy trong trường hợp Người bán không nhận được thông báo rằng các sản phẩm được giao dưới đây không tuân theo bản vẽ hoặc thông số kỹ thuật của Người bán, trong vòng mười lăm (15) ngày sau Người mua có quyền giám sát các sản phẩm đó. 54. Tấ t cả cá c tranh chấ p phá t sinh từ thờ i hạ n hiệu lự c, việc thự c hiện và diễn giả i Hợ p đồ ng nà y sẽ đượ c hai bên giả i quyết thô ng qua thương lượ ng. Trong trườ ng hợ p khô ng giả i quyết bằ ng thương lượ ng đượ c thì hai bên thố ng nhấ t rằ ng tranh chấ p sẽ đượ c chuyển lên Tò a á n nhâ n dâ n tạ i nơi cư trú củ a Ngườ i mua và Ngườ i bá n. Cá c chi phí liên quan (bao gồ m luậ t phí, chi phí đi lạ i, lệ phí cô ng chứ ng, chi phí cho ngườ i là m chứ ng, phí trọ ng tà i và vv) sẽ do bên thua kiện chịu. (10 Points) All disputes arising from the validity period, performance and interpretation of this Contract shall be settled/resolved by both parties through negotiation. In case/In the event that the disputes cannot be settled/resolved by negotiation, the two parties agree that the dispute shall be referred/transferred to the People's Court at the residence of the Buyer and the Seller. The related costs (including legal fees, travel expenses, notary fees, costs for witnesses, arbitration fees and so on) shall be at the Losing Party’s costs/shall be borne by the Losing Party. 55. Ngườ i Mua sẽ bồ i thườ ng, bả o vệ và giú p Ngườ i Bá n trá nh khỏ i bấ t kỳ và tấ t cả khiếu nạ i, tiền bồ i thườ ng và trá ch nhiệm mà Ngườ i Bá n phả i gá nh chịu do thương tích cá nhâ n và /hoặ c tổ n thấ t tà i sả n gâ y ra cho bên thứ 3, bao gồ m nhưng khô ng giớ i hạ n nhâ n viên củ a Ngườ i Bá n, do lỗ i thiết kế củ a bấ t kỳ sả n phẩ m nà o hoặ c lỗ i quy cá ch phẩ m chấ t hoặ c lỗ i củ a cá c linh kiện cụ thể nà o tích hợ p trong sả n phẩ m theo chỉ dẫ n rõ rà ng từ Ngườ i Mua. Buyer will indemnify, defend and relieve Seller from any and all claims, damages and liabilities incurred by Seller as a result of personal injury and/or property loss caused to the 3rd party, including but not limited to Seller's employees, due to defective design of any product or defects in quality or defects of specific components incorporated in the product as expressly directed by Buyer.