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Case One import and export company exported his goods under the CIF term. The seller delivered the goods on board the vessel on time and prepared all necessary documents. But the vessel stranded搁浅 and sank in a few hours after departure. The next day, when the seller asked for payment with full set of documents in conformity with the contract, the buyer refused to accept the documents and rejected payment because his goods have been lost. Is it reasonable for the buyer to do so? Why? 6.1 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 and place of the passing of the property in the goods. 用来表示商品的价格构成,确定交易双方的责任、费用、风险划分等问题,以及物权改变的时间和地点的专门用语。 Composition of Trade Terms Type of currency, price per unit, measurement and trade terms. US$ 100 per dozen CIF London Export------hard currency硬通货 Import------soft currency软通货 6.2 International customary practices (国际贸易惯例) Warsaw-----Oxford Rules 1932(CIF only) 《华沙牛津公约》 Revised American Foreign Trade Definitions(6 kinds) 《1941美国对外贸易修订本》 INCOTERMS 2000 The subtitle: International Rules For the Interpretation of Trade Terms 2000 (13 kinds)《国际贸易术语解释通则》 What are INCOTERMS? A set of thirteen standard packages of terms and conditions, designated to suit typical trading conditions. They are called INCOTERMS. International Commercial (Trade) Terms Versions The current version, INCOTERMS 2000, came into force on 1st, January, 2000. ICC International Council of Commerce International non-governmental body concerned with promotion of trade and harmonization of trade practices. INCOTERMS2000(按照卖方义务从小到大排列) Trade terms suitable for sea or inland water transportation 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 (Cos
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