Terminology Exporting 出口 Importing 进口

Terminology • Exporting 出口 • Importing 进口 • Comparative advantage 比较优势 • Absolute advantage 绝对优势 • Balance of trade贸易差额 • Exchange rate 汇率 • Tariff 关税 • Quota 配额 Export agent 出口代理商 Licensee 领有许可证者 Patent 专利 Royalty 特许权使用费 Balance-of-payments deficit 国际收支逆差 Infant industry 幼稚业 Export subsidy 出口补贴 Ad valorem tariff 从价关税

Chapter 2 Terms of Delivery

Vital Aspects of a Transaction • International trade is very complicated that it may take quite a long time to conclude ONE transaction. – General Procedures of Export Transaction

Vital Aspects of a Transaction – Different Terms of Delivery mean Different Responsibilities of the Seller and the Buyer • Issues need clear specification • • Responsibilities and associated cost Time and place of delivery Documents and expense Title to goods (Title here means “the fullest legal right to control and dispose of property or a claim”)

Definition of Trade Terms • The trade terms refer to using a brief English concept or abbreviation to indicate the formation of the unit price and determine the responsibilities, expenses and risks borne by two parties as well as the time of the passing of the property in the goods. • E. g. FOB LONDON

Incoterms • What is Incoterms? – International Commercial Terms – International Rules for the Interpretation of Trade Terms • The Incoterms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) widely used in international commercial transaction. (A series of three-letter trade terms related to common sales practices. )

Structure of Incoterms 2000 • The terms in Incoterms 2000 are grouped in four basically different categories: – Group E term – Group F terms – Group C terms – Group D terms Departure Shipment Arrival For further information: http: //www. iccwbo. org

Structure of Incoterms 2000 • Two critical points – Point for division of risk – Point for division of cost • Obligations of the seller and the buyer E F C D Seller: Obligation Buyer: Obligation Cost Risk

• The Grouping of Trade Terms: Group E Group F Group C EXW （厂交货） FOB （离岸价） Group D CFR （成本加运费价） DES （目的港船上交货价） CIF DEQ （到岸价）（目的港码头交货价） FCA CPT DDU （货交承运人）（成本、运费付至）（未完税交货价） CIP (成本、运费、保险费付至） FAS （装运港船边交货） DDP （完税交货价） DAF （边境交货价）

EXW *FOB 　　 *CFR FAS *CIF FCA CPT CIP 厂仓库敞车机场火车站汽车站集装箱码头堆场 CY 出口国关境出口国 DES DEQ DDU DDP 码头进口国 DAF 关境进口国

Structure of Incoterms 2000 • Group E term – Only one term: Ex Works (EXW) – departure term – EXW is the term in which the seller's obligation is at its minimum: the seller has to do no more than place the goods at the disposal of the buyer at the agreed place- usually at the seller's own premises.

Structure of Incoterms 2000 • Group F terms (Three terms) – Free Carrier (FCA) – Free Alongside Ship (FAS) – Free On Board (FOB) • "F" - terms require the seller to deliver the goods for carriage as instructed by the buyer.

Structure of Incoterms 2000 • Group C terms (Four terms) – Cost and Freight (CFR) – Cost, Insurance and Freight (CIF) – Carriage Paid To (CPT) – Carriage and Insurance Paid To (CIP) • The C-terms require the seller to contract for carriage on usual terms ( 通常条件) at his own expense.

Structure of Incoterms 2000 • Group D terms (Five terms) – Delivered At Frontier (DAF) – Delivered Ex Ship (DES) – Delivered Ex Quay (DEQ) – Delivered Duty Unpaid (DDU) – Delivered Duty Paid (DDP) • The seller must bear all risks and costs in bringing the goods thereto the agreed place or point of destination at the border or within the country of import.

HOT Terms FOB (Free on Board, …named port of shipment)船上交货(…指定装运港) CFR (Cost and Freight，…named port of destination)成本加运费(……指定目的港) CIF (Cost，Insurance and Freight， …named port of destination)成本加保险费、运费(……指定目的港)

A Brief Explanation of the Terms • Ex Works …named place EXW

A Brief Explanation of the Terms • Free Carrier … named place FCA

A Brief Explanation of the Terms • Free Alongside Ship … named port of shipment FAS

A Brief Explanation of the Terms • Free On Board … named port of shipment FOB

• Note 1: The risks and costs pass from the seller to the buyer immediately after the goods pass the ship’s rail. • Note 2: It is extremely important for the seller to send the shipping advice to the buyer at the far end immediately after shipment is made. • Note 3: Commodity inspection fee is for buyer’s account. • Note 4: It is the buyer’s obligation to obtain any documents or certificates and bear it’s cost EXCEPT the shipping documents.

A Brief Explanation of FOB Term • FOB derived terms – FOB Liner Terms (班轮条件)。它指装船费用按照班轮的做法来办，即卖方不负担装船的有关费用。 – FOB Under Tackle (吊钩下交货)。它指卖方将货物交到买方指定船只的吊钩所及之处，即吊装入舱以及其他各项费用概由买方负担。 – FOB Stowed (理舱费在内)。它指卖方负责将货物装入船舱，并承担包括理舱费在内的装船费用。该变形通常用于大宗的打包货物或者以件数计量的货物。 – FOB Trimmed (平舱费在内)。它指卖方负责将货物装入船舱，并承担包括平舱费在内的装船费用。该变形主要用于大宗的散装货物。

Case • 我出口公司按ＦＯＢ under tackle 条件与荷兰商人签订一笔合同，当货物装船时，其中，一箱货物不慎落海，其余货物均安全装到船上，荷兰商人得知后，马上打来电传要求我方补交，我方业务人员认为，合同使用的贸易术语是“ＦＯＢ吊钩下交货 ”。货物已在船舶吊钩下完成交货，拒绝补偿该批货物。然而，荷兰商人坚持要求我方补交，否则上诉法院，我方是否补交货物？为什么？应补交货物。 FOB的上述变形只是为了表明装船费用由应补交谁负担问题而产生的，它们并不改变FOB的交货地点以及风险划分的界限。 n

A Brief Explanation of the Terms • Cost And Freight … named port of destination CFR

A Brief Explanation of the Terms • Cost, Insurance And Freight … named port of destination CIF

• Symbolic Delivery（象征性交货） On FOB/CFR/CIF, the seller is only required to deliver the goods on the stipulated time and place and hand over the covering documents including document of the title to the goods. So long as he can hand in the documents required in the L/C, he can ask the buyer for payment. He doesn’t have to wait until the arrival of the actual goods at the destination.

A Brief Explanation of the Terms • CIF derived terms – CFR/CIF Liner Terms 班轮条件 – CFR/CIF Landed 岸上交货 – CFR/CIF FO 卸货费除外 – CFR/CIF Ex-ship’s hold 舱底交货

Case • 有一份CIF合同，日本公司出售 450公吨洋葱给澳大利亚公司，洋葱在日本港口装船时，经公证行验明：完全符合商销品质，并出具了合格证明。但该批货物运抵澳大利亚时，洋葱已全部腐烂变质，不适合食用，买方因此拒绝收货，并要求卖方退回已付清的货款。 • 问：在上述情况下，买方有无拒收货物和要求卖方退回货款的权利？

Analysis • 1、在上述情况下，买方无拒收货物和要求卖方退回货款的权利。 • 2、CIF术语条件下成交时，买卖双方的风险界点在装运港船舷，货物在装运港越过船舷以前的风险由卖方承担，货物越过船舷以后的风险由买方承担；CIF合同典型象征性交货，即卖方凭单交货，买方凭单付款，只要卖方所提交的单据是齐全的、正确的，即使货物在运输途中灭失，买方仍需付款，不得拒付。 • 3、结合本案例，这一批洋葱在装运港装船时，经公证行验证符合商销品质，很显然洋葱的腐烂变质完全发生在货物装船的运输途中，而这个风险已经越过装运港船舷，理应由买方承担，此为其一；其二，CIF合同为象征性交货，现日本方提供的单据齐全、正确，买方仍需付款，故，买方是无权利拒收货物和要求卖方退回货款的权利的。

比较FOB CIF CFR的异同点 • 相同之处 –（1）装运港交货的术语，划分风险的界限是船舷 –（2）属于象征性交货，凭单交货 –（3）货物所有权的转移随提单而实现 FOB CFR CIF 交货地点装运港口 n 风险转移界出口报关责任、进口报关责任、适用运限费用由谁负担输方式货物越过装运港船舷卖方不同之处 n （1）双方承担的责任义务不同 n （2）费用的构成不同 n （3）侧重点不同买方水上运输

A Brief Explanation of the Terms • Carriage Paid To … named place of destination CPT

A Brief Explanation of the Terms • Carriage And Insurance Paid To … named place of destination CIP

A Brief Explanation of the Terms • Delivered At Frontier … named place DAF

A Brief Explanation of the Terms • Delivered Ex Ship … named port of destination DES

A Brief Explanation of the Terms • Delivered Ex Quay (Duty Paid) … named port of destination DEQ

A Brief Explanation of the Terms • Delivered Duty Unpaid … named place of destination DDU

A Brief Explanation of the Terms • Delivered Duty Paid … named place of destination DDP

Structure of Incoterms 2010 • The 8 th published set of predefined terms, Incoterms 2010 defines, 11 rules： – Introducing 2 new rules (DAT, DAP) – Replacing 4 rules of the prior version (DAF, DES, DEQ, DDU)

Structure of Incoterms 2010 • Incoterms 2010 are subdivided into 2 categories based only on method of delivery. – The larger group of 7 rules applies regardless of the method of transport – The smaller group of 4 rules applies only to sales that solely involve transportation over water.

Structure of Incoterms 2010 • Rules for Any Mode(s) of Transport – EXW – Ex works…named place of delivery – FCA – Free Carrier…named place of delivery – CPT – Carriage Paid To…named place of destination – CIP – Carriage and Insurance Paid to…named place of destination – DAT – Delivered at Terminal…named terminal at port of destination – DAP – Delivered at Place…named place of destination – DDP – Delivered Duty Paid…named place of destination

Structure of Incoterms 2010 • Rules for Sea and Inland Waterway Transport – FAS – Free Alongside Ship…named port of shipment – FOB – Free on Board…named port of shipment – CFR- Cost and Freight…named port of destination – CIF – Cost, Insurance and Freight…named port of destination

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