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Group Assignment Chapter 5

The document is a draft international sale contract between ABC Trading Co, Ltd. of Vietnam (Party A/Seller) and NZ Co, Ltd. of Japan (Party B/Buyer). [1] It specifies the sale of 1,500 metric tons of Vietnamese Robusta coffee at $1,400 per metric ton, to be delivered CFR to Tokyo, Japan by October 3, 2018. [2] Payment will be made via an irrevocable letter of credit for 100% of the invoice value. [3] The contract terms need to be analyzed and corrected as needed to finalize the export contract.

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Thuong Nguyen
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242 views2 pages

Group Assignment Chapter 5

The document is a draft international sale contract between ABC Trading Co, Ltd. of Vietnam (Party A/Seller) and NZ Co, Ltd. of Japan (Party B/Buyer). [1] It specifies the sale of 1,500 metric tons of Vietnamese Robusta coffee at $1,400 per metric ton, to be delivered CFR to Tokyo, Japan by October 3, 2018. [2] Payment will be made via an irrevocable letter of credit for 100% of the invoice value. [3] The contract terms need to be analyzed and corrected as needed to finalize the export contract.

Uploaded by

Thuong Nguyen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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GROUP ASSIGNMENT CHAPTER 5

Analyzing the errors and missing of the following terms and conditions,
and draft (write) the export contract correctly?

INTERNATIONAL SALE CONTRACT


Date: September 6, 2018
Party A: ABC Trading Co, Ltd. (Vietnam)
Address:
Tel:
Fax:
Represented by:
Hereinafter referred to the Seller

Party B: NZ Co, Ltd. (Japan).


Address:
Tel:
Fax:
Represented by:

Hereinafter referred to the Buyer


Both parties have agreed to sign the contract with the following terms and
conditions:

1. Commodity: Vietnam Robusta Coffee


2. Quality: According to the sample agreed by both parties
(Sample No …)
3. Quantity: 1.500 T more or less 5% at buyer option
4. Price: USD 1.400/MT FCA Tokyo port, Incoterm 2010
5. Payment:
Payment by irrevocable L/C at sight for 100% of invoice value, in
favor of the Seller.
Issuing bank: Tokyo Commercial Bank
Notifying bank: Vietcombank, HCM city
The following documents are presented for negotiation:
Commercial Invoice in three originals.
Full set Bill of Lading marked "Freight to pay at destination”
made out to order of Tokyo Commercial Bank.
Certificate of Quality and Quantity in two copies.
Packing List in two copies.
Certificate of Origin in two copies.
6. Shipment : Delivery of goods will be made CFR.
Delivery will be not later than Octorber 3, 2018.
Port of Loading: Saigon.
Port of discharge: tokyo.
Partial shipment: not allowed
The Buyer will advise the seller the name of vessel
not later than three (03) days before shipping date by
fax.
7. Shipping documents: The buyer will present following
documents:
 Commercial Invoice.
 Certificate of Quantity and Quality by seller
 Bill of Lading marked "Freight paid or collect at
destination” made out to order of any bank.
 Certificate of Origin form B
8. Effective date: the contract will come into force from September
6, 2018.

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