HD Del SV 8.22

International Business
Contracts (IBC)
Core books:
1. Textbook(s)
J. R. Pinnels (1991), Exporting and the Export
Contract, PRODEC.
2. Compulsory reading(s)
K. Reed et al., 2013, Contract Law for
Paralegals (2nd Edition), Prentice Hall
Assessment
1. Gap-filling
2. Case study
3. True or False
4. Contract theory (Answer questions)
5. Matching
6. Contract draft or evaluation
7. Contract comment
7. Contract Translation
 English- Vietnamese
 Vietnamese- English
Work project
Project 1
1. Common mistakes in a real IBC?
2. Common abbreviations in a real IBC?
3. Common sentence structures of a real IBC?
4. Common problems in IBC translation?
5. Common expressions, word combinations,
collocations in IBC?
6. The main points of provisions/ clauses in a real IBC?
7. The Legal language in IBC?

8. The Legal framework applied to IBC?
Work Project
9. Evaluate the google translation in IBC?
10. Sample contract
11. Delivery provision
12. Payment provision
13. Inspection provision
14. Defect liability provision
15. Case studies in IBC
Deadline: Week no.2
- Project work 2: Translation ( in groups)
Import or export contracts
Deadline: Week no.8
Chapter 1: Negotiating Delivery
1. What is an IBC?
2. What are the main points in an IBC?
3. What points should be mentioned in a
clause of Delivery in an IBC ?
Negotiating Delivery
What is an IBC ?
2. The main points in an IBC
3. The main points should be mentioned in a clause of
Delivery of an IBC ?
1. What are 5 steps in negotiating delivery?
1.1. Date of delivery, delay and result of delay
1.2. Place of delivery and alternatives
1.3. Mode of transportation to be used
1.4. Transfer of risk, ownership and insurance,
1.5. Incoterms to be used
1. When must delivery take place?
2. What is the place of delivery ?
 A. When the goods ………….. to the
carrier.
 B. When the goods are ……… in the
buyers’ country
 C. When the goods are …………in the
exporter’s country
 D. When the goods ………… the
buyer’ s warehouse
3. What are the differences among the
following
 Signature date,
 The date of execution,
 The date of coming into force,
 Delivery date,
 Cut-off date
3. What are the differences among the
following
4. How to fix the date of delivery
5. Specimen clauses (Tran.)
Coming Into Force
1. This agreement shall come into force after
execution by both parties on the date of the last
necessary approval by the competent
authorities in the country of the Seller and the
Buyer.
1. If the contract has not come into force
within ninety days of execution, it shall
become null and void.
2. The date of delivery shall be twenty-
eight days after the date of coming into
force of the contract.
3. Time is and shall be of the essence of this
contract.
6. Excused Delay
6. Excused Delay
Specimen Clause (Tran.)
Force majeure provision: If either party is
prevented from, or delayed in, performing any
duty under this Contract by an event beyond his
reasonable control, then this event shall be
deemed force majeure, and this party shall not
be considered in default and no remedy, be it
under this Contract or otherwise, shall be
available to the other party.
- Force majeure events include, but are not
limited to: war (whether war is declared or not),
riots, insurrections, acts of sabotage, or similar
occurrences; strikes, or other labor unrest;
newly introduced laws or Government
regulations; delay due to Government action or
inaction; fire, explosion, or other unavoidable
accident; flood, storm, earthquake, or other
abnormal natural event.
7. Unexcused Delay and Remedies for Breach of
Contract
8. Liquidated Damages and Penalties
How many kinds of damages ?
9. Specimen clause:
Liquidated Damages (Tran.)
If the Seller fails to supply any of the Goods within the
time period specified in the Contract, the Buyer shall
notify the Seller that a breach of contract has occurred
and shall deduct from the Contract Price per week of
delay, as liquidated damages, a sum equivalent to one
half percent of the delivered price of the delayed Goods
until actual delivery up to a maximum deduction of
10% of the delivered price of the delayed Goods.
10. Gap-filling 1:
- The date of delivery may be a simple .........1 date
- If approvals or certificates are required, the contract
may have two starting dates: the date of .......... 2 and
the date of ............... 3 into........4; delivery is ............5
for a number of days after coming into force.
- If the contract has not come into force by a certain
date - No ..............6
Gap-filling 2:
- Delivery is the point at .....4 ......5 passes from the
seller to the buyer.
- Delivery may take place at any agreed...........6
along the transportation route.
Incoterms allow the contract to state the
place of delivery simply:
- Delivery of the Goods shall be ............6 FOB
(Mombasa).
- For F-terms and C-terms this is the place
of.................8.
Negotiating
Negotiating
Delivery
Delivery
- A common ..................9 allows the seller to deliver
under an FOB contract even if the importer's ship
..............10 to arrive . The seller delivers instead to
a..............11 warehouse at the .............12.
Gap-filling 3
1- Failure to perform by one side allows the other side
to seek a ...........1 remedy.
2 - Courts in Continental (civil) law countries order
............2 first, with .................. 3 if performance is
impossible (as in the case of late delivery).
3 - Courts in Anglo-American (common) law countries
................2 damages first with specific ...............12
only if an award of ..............13 does not fully ......
...... 14 the situation.
Gap-filling 4:
4. Figure for compensatory damages may be
................1 before loss occurs, or ................2. A pre-
calculated sum fixed before loss occurs is payable as
...............3.............4
5. Concept Review: ( gap-filling )
1. If the parties must wait for the contract to become
............1, the delivery date often ……….2 on the
date of coming into force.
2. Some contracts (especially fixed-price contracts) set
a ................3 date after which the contract cannot
come into ……4.
3. A grace period is sometimes used to .......5 early
delivery.
4. Sometimes delay in delivery is caused by a .......6
........7 event, i.e., an event beyond the control of the
exporter.
5. A force majeure clause often.......8 the exporter of his
……. 9 to deliver until the force majeure event is over.
6. If the force majeure event continues for too long,
both parties should have the right to.................10 the
contract
7. Late delivery causes loss to the buyer- loss that
must be...........11. To avoid the cost and
……………12 of legal ................13 , many contracts
……………..14 in advance the ............15 for late.
8. Many export contracts cannot "come into force"
(become effective) until certain .......16 (for example,
government approvals) are met.
9. A loss caused by late delivery is not easily quantified,
so …………17 compensation is normal. The lump-
sum may be set too high (....................18), about right
(liquidated damages), or too low (............19). The
motive behind the penalty is to..........20 one party into
full performance.
11. Decide whether the following statements are
true or false.
1. A penalty is not enforceable in Continental courts,
though the quasi-indemnity is usually enforced.
2. The place (and time) of delivery must be
ambiguously agreed because many contract events
(including payment and transfer of risk and title) are
tied to delivery.
3. The place of delivery should be confused with the
destination of the goods.
4. Delivery of goods under most export contracts takes
place in the country of the exporter, at the docks in the
case of sea transport, and when the goods are
handed over to the carrier in most other cases.
5. CIF and FOB contracts are especially confusing
since they name the point of destination, e.g., CIF
(Lagos). Lagos, in this example, is the point up to
which the exporter is responsible for costs, not the
place of delivery.
12. Translation (V-E)
1. Nếu một bên bị ngăn cản hoặc trì hoãn việc thực
hiện bất kì nghĩa vụ nào của hợp đồng này thì bên đó
sẽ phải thông báo ngay lập tức cho bên kia về trường
hợp bất khả kháng này, các nghĩa vụ có liên quan và
thời gian diễn ra sự kiện bất khả kháng.
2. Bên bán phải trả cho bên mua tiền bồi thường thiệt
hại ước tính là 0,1% giá trị của hợp đồng tính cho
mỗi tuần giao hàng trễ, nhưng tối đa là 20% giá trị
của hợp đồng
3. Việc thanh toán sẽ phải được thực hiện trong vòng
20 ngày kể từ ngày nhận được “Vận đơn sạch, hàng
đã được giao lên tàu” của Bên A.
4. Hàng sẽ được giao theo Incoterms 2000. Rủi ro và
quyền sở hữu đối với hàng hóa sẽ được chuyển từ
người bán sang người mua tại thời điểm giao hàng.
5. Nếu có bất kỳ sự kiện bất khả kháng nào ngăn cản
hoặc trì hoãn việc thực hiện bất kỳ nghĩa vụ nào kéo
dài hơn 90 ngày thì mỗi bên có thể chấm dứt hợp
đồng ngay khi thông báo kịp thời cho bên kia
6. Nếu có bất kỳ sự kiện giao hàng trể nào nằm ngoài
lý do bất khả kháng thì người bán sẽ phải trả tiền
bồi thường thiệt hại ước tính, chứ không phải là
tiền phạt trị giá 1% giá trị hợp đồng tính trên phần
hàng chưa giao cho số ngày giao hàng trể nhưng tối
đa là 20% giá trị hợp đồng theo điều khoản số 9
dưới đây.
Negotiating delivery
12. Translation (E-V) (cont.)
1. If any defect provably present in any of the Goods on
the date of Delivery comes to light during the defects
liability period, then the BUYER shall forthwith notify the
SELLER. The SELLER, without undue delay, shall at his
own risk and cost and at his discretion repair or replace
such item or otherwise make good the defect.
2. All amounts due under this agreement shall be paid in
full without any deduction or withholding other than as
required by law. Each Party shall not be entitled to
assert any credit, set-off or counterclaim against the
other Party.
3.The defects liability period shall be prolonged by the
length of any period during which the Goods cannot be
used by the BUYER because of a defect. However, if
new Goods are delivered to replace defective Goods,
the defects liability period shall not begin again on the
replacement Goods.
4. In the event of late Delivery for reasons other than
force majeure , the SELLER shall pay as liquidated
damages and not as a penalty the sum of 1 % of the
value of the undelivered part per Day of late Delivery up
to a maximum of 20 % of the Price payable under
Clause 9 below
5. This Contract is made in four (04) copies with the
same value, each copy executed in both English and
Vietnamese languages; the Seller and the End-User,
each Party keeps one (01) copy; the Buyer keeps two
(02) copies, In case of any discrepancy, or conflict
between the English part and the Vietnamese part in
each copy, the English part shall prevail in all respects.
This Contract comes into effect as from the date of
signing.
Translation (Par2)
1. This agreement shall come into force after
execution by both parties on the date of the last
necessary approval by the competent authorities in
the country of the Seller and the Buyer. If the
contract has not come into force within ninety days
of execution, it shall become null and void
Translation(2)
2. If either party is prevented from, or delayed in, performing
any duty under this Contract, then this party shall immediately
notify the other party of the event, of the duty affected, and of
the expected duration of the event. If any force majeure event
prevents or delays performance of any duty under this Contract
for more than sixty days, then either party may on due notification
to the other party terminate this Contract.
Translation(2)
3. If Buyer fails to give such shipment instructions within a
reasonable time prior to shipment, Seller may, at its sole
discretion and for Buyer's risk and account, arrange for the vessel
or the vessel's space and make shipment of the Goods without
prejudice and in addition to any other rights and remedies Seller
may have under this Contract or at law or otherwise.
Translation(2)
4. The BUYER may, at the BUYER’s option, inspect the Goods
prior to shipment. At least <FIGURE> Days before the actual
Delivery Date, the SELLER shall give notice to the BUYER, or to
any agent nominated by the BUYER, that the Goods are available
for inspection. The SELLER shall permit access to the goods for
the purposes of inspection at a reasonable time agreed by the
parties.
Translation(2)
5. Nothing herein contained shall be construed as
transferring any patent trademark, utility model, design,
copyright or any other intellectual property rights in the
Goods, all such rights being expressly reserved to the
true and lawful owners thereof.
Translation(2)
6. The failure of Seller at any time to require full performance by
Buyer of the terms hereof shall not affect the right of Seller to
enforce the same. The waiver by Seller of any breach of any
provision of this Contract shall not be construed as a waiver of
any succeeding breach of such provision or waiver of the
provision itself.
Translation(2)
7. In the event of late Delivery for reasons other than
Force Majeure as defined in Clause 17 below, the
SELLER shall pay as liquidated damages and not as a
penalty the sum of 5% of the value of the undelivered
part per Day of late Delivery up to a maximum of 10% of
the Contract Price.
Translation(2)
8. Payment of liquidated damages shall be due without
the BUYER having to furnish proof of any loss, damage
or injury. Payment of liquidated damages shall constitute
full and complete satisfaction of any claim of the BUYER
against the SELLER arising from or in connection with
late Delivery of any Goods
Translation(2)
9. This Contract shall not come into force under clause
16 below until the SELLER has received advice that
the Letter of Credit has been opened in his favor and
has ascertained that the terms are in accordance with
those agreed between by the Parties and the letter of
Credit as issued shall be notified by the SELLER to
the BUYER immediately.
Translation(2)
10. If a material discrepancy in quantity exists and is duly notified
to the SELLER, the BUYER at his discretion and subject to
Clause 8.2 above may either:
 a. Accept the delivered portion of the Goods and require the
SELLER to deliver the remaining portion forthwith; or
 b. Accept delivered portion of the Goods and terminate the
remaining portion of the Contract upon due notice given to the
SELLER.
Translation(2)
1. Nếu một trong hai bên của hợp đồng bị gây cản trở hay làm
chậm trễ trong việc thực hiện bất kỳ nghĩa vụ nào theo hợp
đồng này do một sự cố ngoài tầm kiểm soát hợp lý của mình,
thì sự cố trên sẽ được xem là bất khả kháng và bên liên quan
sẽ không bị xem là không hoàn thành nghĩa vụ . Sự cố bất khả
kháng bao gồm nhưng không giới hạn ở: chiến tranh ( bất kể là
có tuyên chiến hay không), bạo động, khởi nghĩa, hành động
phá hoại và những sự cố tương tự khác;đình công hoặc những
hình thức tụ tập người lao động kháca; luật hoặc quy định mới
ban hành của chính phủ; sự chậm trễ do có sự can thiệp của
chính phủ hoặc do chính phủ thiếu hợp tác; cháy, nổ, hoặc
những tai nạn không thể tránh khỏi khác.
Translation(2)
2. Nghĩa vụ giao hàng của người bán được quy định cụ
thể trên bề mặt của hợp đồng trước thời điểm hoặc
trong khoảng thời gian được nêu rõ trên bề mặt của
hợp đồng sẽ tùy thuộc vào tình trạng sẵn sàng của
tàu hoặc khoang tàu.
Translation(2)
3. Nếu, theo điều khoản của hợp đồng này, người mua
sẽ phải giành được tàu hoặc lưu được khoang tàu, thì
người mua có nghĩa vụ phải giành hoặc thu xếp được
tàu hoặc khoang tàu cần thiết và gửi cho người bán
hướng dẫn giao hàng trong một khoảng thời gian phù
hợp trước khi giao hàng, bao gồm nhưng không giới
hạn tên và lịch trình chi tiết của tàu.
Translation(2)
4. Trong trường hợp giao hàng từng phần, bất kì sự
chậm trễ hay không hoàn thành việc giao hàng một
trong các chuyến sẽ không bị xem là vi phạm hợp đông
và không dẫn đến quyền hủy hơp đồng hoặc từ chối
nhận các chuyến hàng khác của người mua
Translation(2)
5. Việc thanh toán số tiền bồi thường thiệt hại ước tính phải đáp
ứng hoàn toàn và toàn bộ những yêu cầu mà người mua đòi
hỏi từ người bán phát sinh từ hoặc có liên quan đến việc giao
hàng trễ. Cụ thể như, người bán không có nghĩa vụ phải chịu
trách nhiệm đối với những mất mát và thiệt hại có tinh gián tiếp
như đã nêu trong điều 2.7 ở trên, phát sinh từ hoặc có liên
quan đến việc giao hàng trễ.
Translation(2)
6. Tất cả các loại thuế, lệ phí khẩu, phí, phí ngân hàng
và các loại phí khác phát sinh từ hàng hóa, các con tơ
nơ và/ hoặc bất kỳ chứng từ ( bao gồm nhưng không
giới hạn những giấy chứng nhận xuất xứ ở nước xuất
khẩu) sẽ do người bán thanh toán/chịu trách nhiệm.
Translation(2)
7. Nếu con tàu do người mua chỉ định không tới được
vào đúng hoặc trước ngày giao hàng thỏa thuận thì
người bán có thể tự ý giao hàng vào một kho ngoại
quan ở cảng của Sài Gòn và sẽ được xem là đã hoàn
thành nghĩa vụ giao hàng của mình theo hợp đồng
này.
Translation(2)
8. Các bên hiểu rằng việc nhập khẩu hàng hóa vào
nước …đòi hỏi việc kiểm tra hàng hóa bởi SGS trước
khi giao hàng từ nước xuất khẩu. Người bán đồng ý
hợp tác chặt chẽ với SGS trong việc cho phép tiếp
cận hàng hóa hoặc cung cấp bất kỳ thông tin cần thiết
nào về hàng hóa cho mục đích kiểm tra như vậy.
Translation(2)
9. Hàng hóa phải được đóng gói trong… và phải được
bảo vệ tốt có chống ẩm, va đập, gỉ sét hoặc xử lý hàng
mạnh tay. Người bán có nghĩa vụ phải chịu trách nhiệm
cho bất kỳ hư hỏng, thất thoát của hàng hóa do việc
đóng gói bị lỗi hoặc không phù hợp.
Translation(2)
10. Giao hàng sớm hơn…ngày thì được cho phép; trong trường
hợp này, việc thanh toán phải được thực hiện như thể đó là ngày
giao hàng thực tế đã được thỏa thuận trong hợp đồng. Giao hàng
từng phần thì được phép theo hợp đồng này theo như thỏa thuận
giữa 2 bên; tuy nhiên, bất kỳ chi phí nào phát sinh từ việc giao
hàng từng phần sẽ do <người mua,người bán> thanh toán.
Contract theory (P.2)
CHAPTER 1:
1. Where is risk often passed from the exporter to the
importer?
2. What are modes of transportation?
3. Where is risk often passed from the exporter to the

importer?
4. Where does transfer of ownership take place?
5. What are kinds of delay in delivery?
6. What events does delivery date trigger?
7. Name types of Insurance policy?

Translation(2)
CHAPTER 1:
8. Name some features of liquidated damages?
9. Name some features of penalties?
10. How to fix the delivery date in a contract?
11. When is a contract binding and effective?
12. What is the importance of a well-designed set of
specifications?
Case Study
Study the contract clause below, and then answer
the questions.
 Fine Payable
 If the Seller fails to deliver the Goods at the fixed date, a fine
shall be imposed upon him for the period of delay until delivery
is completed. The fine shall be as follows:
 2% for the first week, or any part of it.
 4% for the second week, or any part of it.
 6% for the third week, or any part of it.
 8% per week for the fourth week, or part of it, and for all
succeeding weeks.
 The fine shall be calculated on the total contract value.
Case Study
1. The clause uses the word "fine." Does that tell you for
certain what kind of clause you are looking at?
(Penalty clause or liquidated damages clause?)
2. After how long a delay does the exporter lose 100%
of the contract price? ..........WEEKS
3. Do you think this clause is a penalty clause or a
liquidated damages clause?
4. If an English judge applying English law looks at this
clause, will it be enforceable? ⁪
PART2
This Lecture is divided into 3 sections
1. Transport
 To introduce the key transport issues affecting the
"main" export contract
 To stress the importance of correct, clean shipping
documents in all transactions involving a letter of
credit
PART2
2. Risk, Title and Insurance
 To distinguish between risk and title
 To suggest that retention of title is not always of
particular advantage to the seller.
 To note that responsibility to insure generally lies with
the party who is at risk.
3. Transport: Packaging and Marking
1. Transport
1.1 Packaging
 In terms of packing, in What conditions are goods
considered to conform to the contract ?
To avoid misunderstanding, the parties often
regulate the matter: Goods are to be packed in new,
strong, wooden cases suitable for long-distance
ocean transport and are to be well protected
against dampness, shock, rust or rough handling.
The SELLER shall be liable for any damage to or
loss of the Goods attributable to improper or
defective packaging.
 Specimen Clause: The BUYER shall advise the
SELLER of the name of the vessel not later than
<NUMBER> Days before the agreed Delivery date. If the
vessel named by the BUYER fails to arrive on or before
<DATE>, then the SELLER may at his discretion deliver
the Goods to a bonded warehouse in the port of <PLACE
OF DELIVERY> and shall be deemed to have fulfilled his
Delivery obligations under this Contract.
 In this event, the SELLER must notify the BUYER of the
full circumstances of the Delivery to the warehouse. With
Delivery to the warehouse, all costs, including but not
limited to cost of storage and insurance are to the
BUYER's account
1.2. Are these statements true or false?
1-Packaging of dangerous goods is subject to
special regulations in some countries.
2-Most national laws require fumigation of all
containers entering the country.
3-Agriculture-based economies may place severe
restrictions on packaging materials: hay, straw
and rice husks are forbidden; wooden
packaging must be fumigated.
4-The importer shouldn’t inform the seller about
all known regulations
1. 3. Marking : What is marking
concerned with? What will happen if
packaging or marking are incorrect ?
1.4 Specimen Clause:
On the surface of each package delivered under
this Contract shall be marked: the package
number, the measurements of the package,
gross weight, net weight, the lifting position, the
letter of credit number, the words RIGHT SIDE
UP, HANDLE WITH CARE, KEEP DRY, and
the mark: DNP/36/Q
1.4 Specimen Clause:
On the surface of each package delivered under
this Contract shall be marked: the package
number, the measurements of the package,
gross weight, net weight, the lifting position, the
letter of credit number, the words RIGHT SIDE
UP, HANDLE WITH CARE, KEEP DRY, and
the mark: DNP/36/Q
1.5 Transport: Waybills
1. What are the five main Waybills (or Bills of
Lading?
2. When is a Marine Bill of Lading as
Negotiable Instrument ?
3. What is difference between Clean and
Claused Bills of Lading?
4. What will happen if a waybill bearing such
clauses is not "clean' ?
Specimen Clause( claused B/L)
 Packaging soiled by contents
 Packaging broken / holed/torn/damaged
 Packaging contaminated
 Goods damaged/ scratched
 Goods chafed/ torn/ deformed
 Packaging badly dented
 Packaging damaged- contents exposed
 Insufficient packaging
4. Risk, Title and Insurance
 4.1. Define Risk and Title?
1. Risk and transfer of risk ?

2. Title and transfer of title ?
Gap-filling
 1. Property, legal or ..................1, in any goods
supplied by the seller shall ...............2 to the
buyer only when the seller has received
...................3 payment for all .............4 then
................5 by the buyer to the.......................6.
 2. Goods in respect of which ...............7 has
remained with the seller shall be
kept..........................8
as those of the seller, and the buyer shall at its

......................9 immediately return such goods to
the seller, or ........................10 the seller to enter
into the buyer's ............................11 to collect
such goods ................12 the seller so request.
4.3. Insurance : What are risks normally covered
?
 Name the main kinds of insurance policies ?
Make the differences among them?
 What is minimum coverage - Cargo Clause C ?
4.4. Gap-filling
1. Ownership of goods in a foreign country is often of no
.........................................1 value; therefore; many
contracts stipulate: Title to the goods shall pass
with..................2.
2. The seller usually insures up to the point of
..............................3; the buyer ......................4
3. Under CIF and CIP contracts, the seller must pay
insurance from the point of delivery to an agreed
.............................5. This insurance (under Incoterms)
is minimum ................6 -Cargo Clause C- unless the
parties agree .......................................7.
4. Although the seller pays for insurance ; the
risk is entirely the .................................8.
5. Delivery of the Goods shall be made
<INCOTERM>. The ..........................9 date of
Delivery shall be <DATE OF DELIVERY>.
Risk and ...................10 to the Goods shall
pass from the SELLER to the BUYER on
..........................11
5. Are these statements true or false? Why?
1. The contract should specify the type of packaging and
the shipping marks agreed by the parties.
2. On delivery, the exporter receives from the importer
the most important of all the shipping documents, the
bill of lading (or consignment note).
3. Each mode of transport has a characteristic shipping
document: the marine bill of lading, the air waybill, the
rail consignment note, and the road consignment note
are the most common. Combined transport (container
transport) uses a combined transport bill of lading.
4. Under certain circumstances, a marine bill of lading
can be made into a negotiable document.
5. The marine bill of lading, to be acceptable as a
shipping document under a letter of credit, must bear
the notation that the goods have been shipped on
desk a named vessel.
6. Payment under a letter of credit depends largely on
the correctness of the shipment documents.
7. Payment under a letter of credit may be promptly
made if the letter of credit repeats exactly the
contractual packaging requirements but the exporter
has failed to meet them.
8. The carrier will note any defects in the packaging,
weight or general appearance of the goods on
accepting them from the exporter.(The carrier does
not inspect the goods themselves, only the
packaging.) To be acceptable under a letter of credit,
all shipping documents must be "clean," i.e., free of
notes about defects.
9. In CIF and CIP contracts, the exporter must pay for
insurance from the point of delivery to the named point
of arrival.
10. Unless otherwise agreed, this insurance is
"maximum cover"- Cargo Clause A.
11. In CIF and CIP contracts, the importer normally
assigns the insurance agreement to the seller.
12. The insured can make three kinds of arrangement
with the insurer: the tailor-made policy, the floating
policy, and the open cover.
13. Open cover is not a policy : the insurer will write a
policy if required.
14. The normal insurance document under an open
cover is the Insurance Policy; the certificate is, in
principle, the equivalent of a policy.

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International Business

7. The Legal language in IBC?

3. Where is risk often passed from the exporter to the

5. What are kinds of delay in delivery?

6. What events does delivery date trigger?

7. Name types of Insurance policy?

 Packaging broken / holed/torn/damaged

 Goods damaged/ scratched

 Goods chafed/ torn/ deformed

 Packaging badly dented

 Packaging damaged- contents exposed

1. Risk and transfer of risk ?

as those of the seller, and the buyer shall at its

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