[7~8] Below explains international bank guarantee under URDG 758. A. Demand guarantee is a primary, non-accessory obligation towards the beneficiary. B. The guarantor remains liable even if the obligation of the applicant is for any reason extinguished. C. The guarantor may not pay on first demand with making defence. D. This can be used to insure a buyer or a seller from loss due to non-performance by the other party in a contract.
A container is loaded in the town of Daejeon and trucked to Busan port where it is loaded on board a ocean vessel to Hamburg. Then reloaded onto a feeder vessel and discharged in Copenhagen port. After arriving Copenhagen port container is trucked to consignees warehouse. Finally goods are costumed cleared and ready to use or sell.
A. Money laundering is the process of concealing the source of money obtained by illicit means. B. The methods by which money may be laundered are varied and can range in sophistication. C. Many regulatory and governmental authorities quote estimates each year for the amount of money laundered. D. For example, a buyer must verify a customer's identity and monitor transactions for suspicious activities. This is often termed as "know your customer (KYC)"
Purchasing of claims by the bank, mainly resulting from medium or long term export transactions. The discounted amount is being paid out without recourse on the seller of the receivables. The predominant payment instruments are bill of exchange, promissory note or documentary credits available by deferred payment.
A. Insured has an insurable interest when loss of or damage would cause the insurer to cover the loss. B. Open cover is most flexible if goods are moved regularly in a fixed time. C. Cargo insurance covers loss of or damage to goods while in transit by land, sea and air. D. Applying CIF and CIP, the seller can take out insurance for 100% of the value of the goods.
[7~8] Below explains international bank guarantee under URDG 758. A. Demand guarantee is a primary, non-accessory obligation towards the beneficiary. B. The guarantor remains liable even if the obligation of the applicant is for any reason extinguished. C. The guarantor may not pay on first demand with making defence. D. This can be used to insure a buyer or a seller from loss due to non-performance by the other party in a contract.
[7~8] Below explains international bank guarantee under URDG 758. A. Demand guarantee is a primary, non-accessory obligation towards the beneficiary. B. The guarantor remains liable even if the obligation of the applicant is for any reason extinguished. C. The guarantor may not pay on first demand with making defence. D. This can be used to insure a buyer or a seller from loss due to non-performance by the other party in a contract.
A. International litigation is generally slow, complicated, unfriendly and expensive. B. It is technically difficult and often requires specialized professional counsel. C. In addition, there exists a risk of court bias when the court decision has to be enforced in the country of the party having the same nationality. D. If trade parties choose CISG as a governing rule, commercial disputes between them shall be resolved by litigation.
To ensure that goods are delivered or services rendered in accordance with the terms of the contract and within the agreed time.
A. Country risk of seller B. Seller’s bank risk C. Seller's performance risk D. Country risk of buyer
A documentary credit for USD100,000 calls for a full set of bills of lading and an insurance certificate to cover all risks. The bill of lading presented indicates an on board date of 15 December. A. Insurance Policy for USD120,000. B. Insurance Certificate just dated 17 December. C. Insurance Declaration signed by a broker. D. Insurance Cover Note dated 15 December
[16~17] Read the following and answer the questions. Please send us your current catalogue and price list for bicycles. We are interested in importing models for both men and women. a. This would enable us to maintain the low selling prices which are important for the growth of our business. b. In return we would be prepared to place orders for a guaranteed annual minimum number of bicycles, the figure to be mutually agreed. c. If the quality of your products is satisfactory and the prices are reasonable, we would place large orders. d. We are the leading bicycle dealers in this city where cycling is popular, and have branches in five neighbouring towns. e. Please indicate whether you will allow us a quantity discount.
[16~17] Read the following and answer the questions. Please send us your current catalogue and price list for bicycles. We are interested in importing models for both men and women. a. This would enable us to maintain the low selling prices which are important for the growth of our business. b. In return we would be prepared to place orders for a guaranteed annual minimum number of bicycles, the figure to be mutually agreed. c. If the quality of your products is satisfactory and the prices are reasonable, we would place large orders. d. We are the leading bicycle dealers in this city where cycling is popular, and have branches in five neighbouring towns. e. Please indicate whether you will allow us a quantity discount.
We regularly ship consignments of bottled sherry to Australia by both passenger and cargo liners of the Enterprise Shipping Line. Can you issue a comprehensive all-risks policy for these shipments and, if so, on what terms. In particular we wish to know whether you can issue a special rate in return for the promise of regular monthly shipments.
Transport document which is not a document of title/negotiable document. This document indicates on board loading of the goods and can be used in cases where no document of title is required.
[20~21] Read the following and answer the questions. We have recently concluded a contract for the supply of raw cotton from New Orleans to Manchester over the next twelve months and should be glad if you would find us a suitable ship, about five thousand tons. The question of speed is important as the ship we need must be able to make six return voyages in the time, allowing for six days at each turn-round.
[20~21] Read the following and answer the questions. We have recently concluded a contract for the supply of raw cotton from New Orleans to Manchester over the next twelve months and should be glad if you would find us a suitable ship, about five thousand tons. The question of speed is important as the ship we need must be able to make six return voyages in the time, allowing for six days at each turn-round.
Mr. Chao Wang, Dragon Corporation The above order is now on board the Arirang, sailing for Shanghai tomorrow, arriving on Thursday. As there was no time to check references, we drew a sight draft for the total amount of USD4,150,000. This was sent to Bank of China and will be presented to you for payment. If you can supply two business references before your next order, we will put the transaction on a ( ) basis with 30 days credit drawn on you. Best wishes, Peter Han HN Global
Mr. Chao Wang, Dragon Corporation The above order is now on board the Arirang, sailing for Shanghai tomorrow, arriving on Thursday. As there was no time to check references, we drew a sight draft for the total amount of USD4,150,000. This was sent to Bank of China and will be presented to you for payment. If you can supply two business references before your next order, we will put the transaction on a documents against acceptance basis with 30 days credit drawn on you. Best wishes, Peter Han HN Global
Thank you for your order, NO. 1449 which we received today. Unfortunately, we cannot offer the 35% trade discount you asked for. 25% is our maximum discount, even on larger orders, as our prices are extremely competitive. Therefore, in this instance, I regret that we have to ( ) your order.
A transport document bearing a clause such as “( )” is acceptable
Dear Mr. Carpenter, Regarding the type of agency you suggest, I should point out that we never use exclusive agencies as we have found that they tend to be rather restrictive both for ourselves and our customers. ( ⓐ ) who buy our products on their own account and then retail them at market prices in their country. Our terms of payment are 60 days O/A if the customer can provide trade references. ( ⓑ ) is concerned, you may be interested to hear that we have arranged for an extensive campaign in Europe. It begins next month and features our heavy machines. We are sending dealers throughout Europe brochures, leaflets, and posters, and this will be followed up by TV advertising in May. I look forward to hearing from you.
Dear Mr. Carpenter, Regarding the type of agency you suggest, I should point out that we never use exclusive agencies as we have found that they tend to be rather restrictive both for ourselves and our customers. ( ⓐ ) who buy our products on their own account and then retail them at market prices in their country. Our terms of payment are 60 days O/A if the customer can provide trade references. ( ⓑ ) is concerned, you may be interested to hear that we have arranged for an extensive campaign in Europe. It begins next month and features our heavy machines. We are sending dealers throughout Europe brochures, leaflets, and posters, and this will be followed up by TV advertising in May. I look forward to hearing from you.
Dear Mr. Carpenter, Regarding the type of agency you suggest, I should point out that we never use exclusive agencies as we have found that they tend to be rather restrictive both for ourselves and our customers. ( ⓐ ) who buy our products on their own account and then retail them at market prices in their country. Our terms of payment are 60 days O/A if the customer can provide trade references. ( ⓑ ) is concerned, you may be interested to hear that we have arranged for an extensive campaign in Europe. It begins next month and features our heavy machines. We are sending dealers throughout Europe brochures, leaflets, and posters, and this will be followed up by TV advertising in May. I look forward to hearing from you.
We are sorry to say that we are completely out of stock of this item and it will be six weeks ( ) we get our next delivery, but please contact us then.
( ⓐ ) shall not be liable for infringements of patents, designs, trademarks or copyrights involving goods. If any dispute arises concerning patents, designs, trademarks or copyrights as the result of the sale of the goods by ( ⓑ ), ( ⓒ ) shall, at its own risk and expenses, take all such steps as may be necessary to protect itself.
I would like to call your attention on the unsolved O/A transaction. The loss of buying on credit brings about some problems, and can be devastating to your business. Your account is now four months past due, and you've not responded to any of our requests for payment. By sending your check in the amount of US$75,000 today, you'll ensure the privilege of maintaining the good credit reputation you now have.
I would like to call your attention on the unsolved O/A transaction. The loss of buying on credit brings about some problems, and can be devastating to your business. Your account is now four months past due, and you've not responded to any of our requests for payment. By sending your check in the amount of US$75,000 today, you'll ensure the privilege of maintaining the good credit reputation you now have.
( ⓐ ) : by misrepresenting the price of the goods in the invoice and other documentation (stating it at above the true value), the seller gains excess value as a result of the payment. ( ⓑ ) : by misrepresenting the price of the goods in the invoice and other documentation (stating it at below the true value), the buyer gains excess value when the payment is made. ( ⓒ ) : the seller ships less than the invoiced quantity or quality of goods, thereby misrepresenting the true value of goods in the documents. ( ⓓ ) : the seller ships more than the invoiced quantity or quality of goods, thereby misrepresenting the true value of goods in the documents.
We have today shipped 100 sets of TVs to the Nigerian Trading Co, Lagos. Since the standing of this company is unknown to us we do not wish to hand over ( ⓐ ) against their mere acceptance of a bill of exchange. Therefore we enclose ( ⓑ ) on them, together with bill of lading and the other shipping documents for payment. Please instruct your correspondent in Lagos to arrange for this
We have today shipped 100 sets of TVs to the Nigerian Trading Co, Lagos. Since the standing of this company is unknown to us we do not wish to hand over the shipping documents against their mere acceptance of a bill of exchange. Therefore we enclose a sight draft on them, together with bill of lading and the other shipping documents for payment. Please instruct your correspondent in Lagos to arrange for this
( ) terms allows the importer to make payments at some specific date in the future and without the buyer issuing any negotiable instrument evidencing his legal commitment to pay at the appointed time. These terms are most common when the importer/buyer has a strong credit history and is well-known to the seller.
We regret to inform you that we have made a mistake in making out the invoice No. 123. The correct charge for radios is US$88. We are, therefore, enclosing ( ) for the amount undercharged.
Missing a deadline in shipment is bad business. It can cost you untold losses, not only because it may cost you the credit, but it also hurts your ( ⓐ ) as a reliable business person. If you can see that you will not meet an agreed-upon deadline, don't let the day come and go without saying anything. Well in advance of the deadline, request a/an ( ⓑ ) in writing.
Dear Ms. Yoo, Your account is now ( ⓐ ) for 3 months. Copies of outstanding invoices are attached. If we do not receive payment in full by September 7, your account will be closed and service will be cancelled. In addition, this matter will be turned over to our ( ⓑ ). Please call us within the next three business days to discuss how we can resolve this matter. Sincerely,
Insurance policies may contain language that entitle an insurer, once losses are paid on cliams, to seek recovery of funds from a ( ⓐ ) which caused the loss. The insured does not have the right to both file a claim with the ( ⓑ ) to receive the coverage outlined in the insurance policy and to seek damages from the third party
( ⓐ ) is a transport or freight term indicating that loading/discharging costs are not included in the freight. In the charter party, context means that loading/discharging are not the shipowner's responsibility. The ( ⓑ ) is responsible for loading/discharging.
The drawer in the bill of exchange is a party ( ).
Incoterms는 인도장소와 방법에 따라 11가지 정형거래 조건을 제정하여 사용하고 있다. ( ㉠ ) 등의 조건에서 선적과 인도가 같은 개념이지만 ( ㉡ ) 등에서는 그 개념을 달리한다. 따라서 계약조건으로 ( ㉢ )이란 용어를 사용하면 이것이 선적을 의미하는지, 위험의 이전을 의미하는지 또는 매도인이 매수인의 관리하에 물품의 반입을 의미하는지 혼동하기 쉽다. 결국 물품의 인도와 관련된 시기를 나타내는 계약조건은 ( ㉣ )이라고 명기 하는 것이 명확하다고 할 수 있다.
- 과부족용인약관(More or Less Clause) : 신용장통일 규칙(UCP 600)은 살물(撒物)일 때 명시적인 과부족용인 약관이 없더라도 ( ㉠ )%의 과부족은 허용하고 있다. - Approximate Quantity(About, Circa, Approximately) : 신용장통일규칙(UCP 600)은 ( ㉡ )% 범위 안에서 과부족을 허용한다.
(ㄱ. ), ( ㄴ. ), ( ( ㉠ )(이)란 화물의 개수, 중량 혹은 용적과 관계없이 일항해(Trip or Voyage) 혹은 선복의 크기(DWT)를 기준으로 하여 일괄 계산하는 운임을 말하며, ( ㉡ ) (이)란 항해용선계약에서 계약적재량을 채우지 못함으로 발생되는 운임을 말하고, ( ㉢ )(이)란 용선계약상 허용된 정박기간이 종료하기 전에 하역이 완료되었을 때 그 절약된 기간에 대하여 선주가 용선자에게 지급하는 보수를 말한다.. )안에 들어갈 용어로 옳은 것은?
( ㉠ )조건이라 함은 매도인이 물품을 본선에 적재하여 인도하거나 이미 그렇게 인도된 물품을 조달하는 것을 의미한다. 물품의 멸실 또는 손상의 위험은 물품이 본선에 적재된 때에 이전한다. 매도인은 물품을 지정 목적항까지 운송하는데 필요한 계약을 체결하고 그에 따른 비용과 운임을 부담하여야 한다. ( ㉡ )조건 등이 사용되는 경우에, 매도인은 물품이 목적지에 도착한 때가 아니라 선택된 당해 규칙에 명시된 방법으로 운송인에게 물품을 교부하는 때에 그의 인도의무를 이행한 것으로 된다.
㉠ 운송계약은 각각의 운송수단별로 체결된다. ㉡ 육상, 해상, 항공 운송 등이 서로 연결된다. ㉢ 해상운송이 여러 번 연결된다. ㉣ 전 구간에 대하여 1개의 운송증권이 발행된다
+Insurance Policy in duplicate issued to Beneficiary's order and blank endorsed for the invoice value plus 10 pct.
- 수입업자 : HAEYANG CO., LTD. KOREA - 수출업자 : JAVA CO., LTD. INDONESIA - 수입업자 거래은행 : KOOKMIN BANK - 수출업자 거래은행 : JAKARTA BANK - 신용장 상의 문구 : "available with ANY BANK by negotiation of your draft at 180 days after sight for 100 percent of invoice value."
㉠ 신용장은 특정은행의 조건부 지급확약으로 상업신용을 은행신용으로 전환시켜 주는 금융수단이다. ㉡ 신용장 상에 아무런 언급이 없는 경우 양도가 가능하다. ㉢ 무역거래에 사용되는 신용장은 일반적으로 'Documentary Credit’이다. ㉣ 신용장에 의해 발행되는 환어음의 만기가 ‘at 90 days after sight’라면 ‘Sight Credit’이 된다. ㉤ 양도가능 신용장이 개설되었다면 반드시 중계무역이 발생하게 된다.