国际-贸易实务英文版第二版课后习题-答案~内容.doc
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1、#*Chapter 2 International Trade Terms12345678910I. Multiple choicesBCACCDABCDII. True or false statementsTTFFTFFFFTIII. Explain the following terms 1. shipment contract Shipment contract is a contract using an Incoterm which indicates that the delivery happens at the time or before the time of shipm
2、ent. 2. symbolic delivery Symbolic delivery is a delivery situation in which when the seller delivers the buyer does not physically receive the goods. This kind of delivery is proved by the submission of transport document by the seller to the buyer. 3. arrival contract Arrival contract means a cont
3、ract using an Incoterm which indicates that the delivery happens when the goods arrive at the destination. 4. actual delivery Actual delivery refers to a delivery situation in which when the seller delivers the buyer does physically receive the goods. IV. Short questions 1. Who pays for loading for
4、shipment under FOB ? The seller. 2. Who pays for unloading under CIF? The buyer. 3. Compare and contrast FOB, CFR and CIF? Similarities: a. The sellers risk will be transferred to the buyer when the goods are loaded on board, b. The seller is responsible for export customs formalities while the buye
5、r is responsible for import customs formalities, c. The buyer is responsible for unloading the goods at the port of destination, d. All three terms can only be used for waterway transportation. Differences: a. FOB requires the buyer to arrange and pay for the ocean transportation; CFR requires the s
6、eller to arrange and pay for the ocean transportation; CIF requires the seller to arrange and pay for the ocean transportation and insurance against the buyers risk. 4. What are the two types of trade terms concerning the transfer of risks? Shipment contract terms vs. arrival contract terms. Under s
7、hipment contract terms the sellers risk will be transferred to the buyer before the goods depart from the place/port of shipment. Under arrival contract terms the seller will bear the risk of the goods until the goods arrive at the destination. 5. What are the differences and similarities between CP
8、T and CFR? Major similarities: a. The seller should contract and pay for the major carriage. b. The seller is not taking the risk of loss of or damage to the goods during the transportation. Difference: a. CPT is applicable to any kind of transportation mode while CFR is only used for waterway trans
9、port, b. Under CPT the sellers risk will be transferred to the buyer when the goods are handed over to the first carrier nominated by the seller. Under CFR the sellers risk will be transferred when the goods are loaded on board the vessel. 6. What are the differences and similarities between CIP and
10、 CIF? Major similarities: a. The seller should contract and pay for the major carriage. b. The seller is not taking the risk of loss of or damage to the goods during the transportation, c. The seller must obtain insurance against the buyers risk.#*Difference: a. CPT is applicable to any kind of tran
11、sportation mode while CFR is only used for seaway or inland waterway transport, b. Under CPT the sellers risk will be transferred to the buyer when the goods are handed over to the first carrier nominated by the seller. Under CFR the sellers risk will be transferred when the goods are loaded on boar
12、d the vessel. 7. If you trade with an American, is the sales contract subject to Incoterms without any doubt? What should you do? No. The Revised American Foreign Trade Definitions 1941 is still in use, especially in the North American area. It has different interpretation about some trade terms. Th
13、e traders should clarify the choice of rules before any further discussion. 8. What are the most commonly used trade terms? FOB, CFR b. Commission mainly applies to transactions which involve middleperson or agent. Discount can be used without particular prerequisites. 4. When will an offer be termi
14、nated?An offer will be terminated when: a. it is legally terminated (being withdrawn or revoked); b. it is not accepted by the offeree within the validity period or a reasonable period of time; c. it is rejected by the offeree; and d. some uncontrollable events happen, preventing the offeror from fu
15、lfilling his obligations. 5. What are the possible modifications a counteroffer may make to an offer?If a reply to an offer makes modifications in the following aspects, the reply will be considered as a counteroffer: _ price and payment; b. quality and quantity of goods; c. place and time of delive
16、ry; d. extent of one partys liability to the other; e. settlement of dispute. V. Case studies 1. Under the price of USD25.5/dozen CFR Rotterdam BB Company signed a contract to sell 1 000 dozens of T- shirt. The T-shirt was purchased from factory by RMB135/dozen. BB Company calculated 3 % of its prod
17、uct purchasing price as its overhead costs. The local transport and customs formalities took RMB2 500 and the container ocean freight was USD1 500. If the bank exchange rate was 1USD/6.5RMB, what would be the export profit margin for this deal? And what about its export cost for foreign exchange?exp
18、ort profit margin: 9.26% ; export cost for foreign exchange : 5. 897Export profit margin= Export revenue ( FOB ) - Export cost ( FOB )/ Export revenue (FOB)Export Cost for Foreign Exchange =Export Cost in Local Currency/ Export Revenue in Foreign Currency 2. The price quoted by a Shanghai exporter w
19、as “USD1 200 per M/T CFR Liverpool“ The buyer requested a revised FOB price including 2% commission. The freight for Shanghai-Liverpool was USD200 per M/T. To keep the export revenue constant, what would FOBC2% price be?FOBC2% Shanghai USD1 020. 41/M/TFOBC% = FOB/( 1 - Commission) 3. AC Company offe
20、red to sell goods at “USD100 per case CIF New York“. The importer requested a revised #*quote for CFRC5 %. The premium rate for insurance was 1.05 % and mark-up for insurance was 10%. To get the same export revenue, what would ACs new offer be?CFRC5% New York USD104. 5/caseI = CIF x 110% x RCFRC% =
21、CFR/( 1 - Commission) 4. DD Company offered to sell goods at “USD2 000 per M/T CW Toronto with all risks and war risk for 110% of the value“. The importer requested a revised quote for FOB Guangzhou. The freight for Guangzhou- Toronto was USD50 per M/T, and the premium rates for “all risks“ and “war
22、 risk“ were 1% and 0. 2% respectively. To get the same export revenue, what FOB price should the exporter offer?FOB Guangzhou USD1 923.6/M/TI =CIF x 110% x RCIF = FOB + Freight + Insurance 5. The price quoted by an exporter was “USD450 per case FOB Shanghai“. The importer requested a revised quote f
23、or CIF Auckland. If the freight was USD50 per case, 110% of the value was to be insured, and the premium rate for insurance was 0. 8%, what would the new price be?CIF Auckland USD504. 44/caseCIF = CFR/( 1 - 110% x R)CFR = FOB + Freight 6. X Company signed a contract to export two machines at an init
24、ial price (P0) of USD5 million each. At the time of setting P0, the material price index (M0 ) was 110, the wage index (W0 ) was 120. The contract contained a price revision clause that allowed the final price to be set on delivery.At the time of delivery, the material price index (M) was 112, and t
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