国际贸易实务练习

5 Part One: Multiple Choices

1. In international cargo transportation, the most widely adopted bill of lading is____

A. straight bill of lading B. unclean bill of lading C. bearer bill of lading D. order bill of lading

2. In DES contracts, a reasonable order for time of shipment and time of delivery is____

A. July 1 and June 1 B. June 1 and July 1 C. June 1 and June 1 D. July 1 and July 1

3. A bill of lading is ____ when its date of shipment is indicated earlier than the actual time of shipment. A. stale B/L

B. confirmed B/L C. ante-dated B/L D. straight B/L

4. A (an)____ represents title to the cargo. A. CTD

B. air waybill C. road waybill D. bill of lading 5. The bill of lading presented to the consignee or buyer or his bank after the stipulated expiry date of presentation or after the goods are due at the port of destination is a____ A. stale B/L

B. confirmed B/L C. ante-dated B/L D. straight B/L

6. A “freight to be collected” B/L is acceptable to the buyer when the contract is based on____ A. FOB B. CFR C. FCA D. CPT

7. A____ normally has regular scheduled departures, specified routes and comparatively fixed freight rates. A. time charter B. voyage charter C. conference liner D. non-conference liner

8. An order B/L with blank endorsement is a B/L showing____

A. neither the name of the consignee nor the name of the transferor B. neither the name of the consignee nor the name of the transferee C. both the name of the consignee and the name of the transferor D. the name of the consignee no name of the transferee Part Two: True or False Statements

1.____ Liner freight has covered the loading and unloading fee. 2.____ Bills of lading are usually made out in a full set including several originals and copies. 3.____ Since straight B/L bears higher risk than the open B/L, it is rarely used in international transportation.

4.____ A clean B/L is issued by the seller to the buyer to certify that the goods delivered are in apparent good conditions.

5____ In international trade practice, the time of shipment is actually the time of delivery.

6____ UCP600 stipulated that partial shipment and transhipment are allowed unless it is stipulated otherwise.

Part Three Calculation

1. The price quoted by an exporter was “USD38 per case FOB Liverpool”. The importer requested a revised CFR Liverpool price. If the size of each case was 50cm*40cm*30cm, gross weight per case was 40kg, freight basis was W/M and the quotation for London is USD100 per ton of carriage, plus 20% bunker adjustment factor (BAF) and 10% currency adjustment factor (CAF), what would be the CFR price?

2. There is one consignment of 10 cartons of leather shoes, measurement of each carton is 50*50*50cm, gross weight of each is 15KG. The air freight arte quoted for the flight required is USD1.3KG. How much air freight should be paid to the carrier?

Part Four Short Questions

1. Under what circumstances does the time of shipment equal to the time of delivery?

2. What are the functions of a bill of a lading? 3. What are the main types of bills of lading?

Part Five Case Studies

1. ABC Co. signed a contract to export 200 M/T of beans. The letter of credit stipulated, “Partial shipment not allowed”. When the shipment was being made, the exporter loaded 100 M/T each on board the same vessel for the same voyage at the port of Shanghai and the port of Dalian. The shipment document was clearly marked with the ports of shipment and the dates of shipment. Did the exporter violate the terms of the L/C?

2. Dee co. signed a large export contract stipulating, “shipment will be made during August of 2008”. But due to the problems with the vessel, the shipment was not made until September 13. Upon Dee’s request, the carrier ante-dated the B/L to August 31.

(1) What could be the consequence of ante-dating?

(2) What would be the right thing to do in case of a possible shipment delay?

3. A Chinese exporter singed a CIF contract with a foreign importer. Payment was to be made by irrevocable sight L/C. Both the contract and the L/C prohibited transhipment. Within the validity of the credit, the exporter shipped the cargo on board a liner sailing direct to the port of destination, and presented the direct B/L for negotiation. Later the foreign issuing bank also made payment against the direct B/L forwarded by the negotiation bank. However, in order to collect some other cargos, the carrying vessel unloaded the cargo at an intermediate port without authorization. The cargo was instead reloaded onto an old vessel, and thus arrival the Chinese side for fraud, since the cargo was actually

transhipped even though the direct B/L was issued. Finally the exporter accepted the claim and made compensation as requested, as he thought that he, as the person booking the vessel, should be liable for the carrier’s unauthorized transhipment.

(1) Do you think the settlement of this case appropriate? (2) Who should bear the loss? Why?

(3) Who should be liable for the damage? Why? (4) What should the seller do?

2

Multiple choices

1. Among all the Incoterms ____ imposes the minimum obligation and cost to the seller. A. EXW B. CIF C. DDP

D. DDU

2. Among all the Incoterms ____ imposes the minimum obligation and cost to the buyer. A. EXW B. CIF C. DDP D. DDU

3. According to the Incoterms 2000 under FCA the risk of goods will be transferred from the seller to the buyer____

A. when the goods are placed at the disposal of the buyer.

B. when the goods are delivered to the named place in the exporting country.

C. when the goods are given to the nominated carrier.

D. when the goods are loaded on the vehicle of the carrier. 4. The term CIF should be followed by____ A. named port of shipment B. named place of destination C. named ship’s rail

D. named port of destination

5. FOB and CFR share one thing that____

A. risk is transferred when the goods pass the ship’s rail B. they can be used in any mode of transport.

C. the seller will be responsible for the unloading at the port of destination

D. none of the above

6. According to the Incomters 2000 under CIF if the goods get loose from the hook and fall into the sea during the loading stage, ____ should hold liable for the loss. A. the buyer B. the seller C. the carrier

D. both the seller and buyer

True or false statements

1. ____ The EXW term indicate an actual delivery.

2. ____ FCA and CPT have one thing in common that the seller delivers when the goods are handed over to the first carrier nominated by the buyer. 3. ____ Since under CFR the risk will be transferred when the goods pass the ship’s rail, the seller will not hold any responsibility if the buyer finds the goods not in conformity with the contracted specifications. 4. ____ All the C group terms require the seller to bear the main costs of carriage and risk during the transport.

5. ____ According to the Incoterms 2000 under DEQ the buyer is not responsible for loading the goods on board the vessel.