chapterITP.ppt

5. Withdrawal or revocation of an offer (1). Withdrawal (撤回) The offeror withdrawing the offer which has not been received by the offeree (2). Revocation (撤销) an offer being revoked after the offeree receives it * * Chapter two The International Sale of Goods 2.2 Formation of Contract The negotiations The offer The acceptance The negotiations Enquiries/Inquiries and invitations to contract The quotation 2.1.1. Inquiry The seller and the buyer both can make an inquiry. Usually, the inquiry made by the buyer is also called bid, and the inquiry made by the seller is also called selling inquiry. Inquiry will not bind upon both parties, but usually when you received an inquiry, you should reply it as soon as possible 2.2.2 Offer 1. The meaning of an offer the definition of offer : The offer is a statement intended to result in a binding contract if duly accepted by the offeree. The party who makes an offer is called an offeror, in the case of the seller, the offer is called a selling offer(售货发盘), while in the case of the buyer, and it is called a buying offer, (购货发盘)or bid(递盘). The offer 2. The basic conditions of an offer (1) The offer shall be made to one or more specific persons The offer shall be the definite representation in which the offeror expresses that he shall conclude transaction on the terms and conditions stipulated therein. (2). Contents of the offer shall be sufficiently definite, i.e., trade terms of the offer shall be complete, clear and final （a）The “Convention” stipulates that a sufficiently definite offer should include three basic elements: name, quantity and price （b）In our foreign trade practice, a complete offer shall include the quality, quantity, packing, price, terms of delivery of the goods and terms of payment. (3). The offer shall indicate the intention of the offeror to be bound in case of acceptance This intention may be indicated by terms as “firm” offer, “offer with engagement”, etc. If the offer has a re