The seller fulfils his obligations by delivering the goods to the air carrier at the airport of departure. The risk if loss of or damage to the goods is transferred from the seller to the buyer when the goods have been so delivered. Fas fas means "Free alongside Ship". Under this term the seller's obligations are fulfilled when the goods have been placed alongside the ship on the quay or in lighters. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment. Fob fob means "Free on board".
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The new system of multimodal shipment in international trade is reflected in the learning International Commercial Terms (Incoterms 1980). In particular he is not responsible for loading the goods in the vehicle provided by the buyer, unless otherwise agreed. The buyer bears the full cost and risk involved in bringing the goods from there to the desired destination. This term thus represents the minimum obligation for the seller. Free carrier.(named point) This term has been designed to meet the requirements of modern transport, particularly such "multimodal" transport as container or "roll on-roll off" traffic by trailers and ferries. It is based on the same main principle as fob except that the seller fulfils his obligations when he delivers the goods into the custody of the carrier at the named point. For/Fot for and fot mean "Free on rail" and "Free on Truck". These terms are synonymous since the word "Truck" relates to the railway wagons. They should only be used when the goods pre to be carried by rail. Fob Airport fob airport is based on the same main principle as the ordinary fob term.
Traditionally, the ship's rail was considered the critical point of responsibility, that is when all risks of loss or damage are transferred from one party to the other. Now it is no longer the ship's rail but the port terminal which may be such a point. In sea port areas the goods are put into containers, on pallets or aboard the ship. The main carrier often prefers to assume through responsibility for the cargo he carries. In a through movement of the goods a combined transport document is issued instead of a traditional Bill of Lading. Like a traditional Bill of Lading it is a receipt for the consignment. But instead of ports of shipment and discharge it shows the place of delivery guaranteed and receipt.
What is a cheque? Whom do you give tt terms to? What are the two types of drafts? What is an irrevocable L/C? Who guarantees payment against a confirmed letter of credit? Does a term draft involve risk for an exporter? Name a major advantage of a revolving L/C as compare with multiple L/Cs. Transport and Delivery terms Multimodal (Door to door) transport is "wide-spread thesis in ship ping now.
The drawee writes "Accepted" across it and signs his name. The draft is then returned to the seller, who can hold it until maturity. This method of payment involves risk to the exporter or his bank as it may happen that a draft is not honoured when it is due. The shipper has full protection when drafts are presented against L/C. With a letter of credit, at least when it is confirmed and irrevocable, the payment is guaranteed. The bank at the sellers' end guarantees payment in case the opener of the credit defaults. Besides, the credit cannot be cancelled before the expiry date. A revolving letter of credit is a special type, the value of which is constantly made up to a given limit after each shipment, thus saving charges on multiple letters of credit.
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To_ _ Vsesojuznoje Objedinenije _ like a cheque, a draft is an order to pay. It is made out by an exporter and presented to the importer. It is also called a bill of exchange. A sight draft is a bill which is paid immediately on presentation. A bill to be paid at a later date is called a term draft. There are 30-day, 60-, 90- and 120-day drafts.
A very usefull method is to attach the shipping documents (the bill of Lading, the Insurance policy and the Invoice) to the Draft fathers and hand them to the bank for collection. The documents can be handed over to the buyer either against payment (D.P. documents against payment) or against acceptance of the Draft (D.A. Refers to sight drafts. Refers to term drafts. A sight draft does not require acceptance. A term draft must be necessarily accepted.
The quality of raw materials and foodstuffs is determined, as a rule, by standards by sample by description. Price The price stated in a contract may be firm, fixed or sliding. Firm prices are not subject to change in the course of the fulfillment of the contract. It is the price governing in the market on the day of delivery or for a given period. These prices are"d for machinery and equipment which require a long period of delivery. Why are standard contracts widely used?
What are the essential items of a contract? What information is contained in different contract? How is quality determined in a contract? What sort of prices may be indicated in a contract? Payment A cheque is a written order to a bank given and signed by someone who has money deposited there to pay a certain amount mentioned in the cheque to a person named. In the place of the cheque system Banks provide an international system of Bank Transfers. The seller gives tt or mail remittance terms to a buyer when he is a trusted customer or agent. It involves risk as the seller ships goods without any assurance of getting payment. Moscow 19_ _ ON_ pay against this bill of exchange to the order of the bank for foreign economic affairs of the russia, moscow, the sum of for value received.
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Standard contracts are not a must. Some articles may be thesis altered and essays supplemented. Here are some of the items which are part and parcel of any contract: legal title of the contracting parties, subject of the contract, quality, price, delivery and payment terms. Subject, this section names the product for sale or purchase. It also indicates the unit of measure generally employed in foreign trade for specific commodities. Contracts for bulk cargo contain a stipulation 'about' or 'plus or minus. Per cent denoting the permitted quantity tolerance. Quality, the quality of machines and equipment is to be in conformity with the technical specification of the contract.
Preparing a and business plan draws on a wide range of knowledge from many different business disciplines: finance, human resource management, intellectual property management, supply chain management, operations management, and marketing, among others. It can be helpful to view the business plan as a collection of sub-plans, one for each of the main business disciplines. A good business plan can help to make a good business credible, understandable, and attractive to someone who is unfamiliar with the business. Writing a good business plan cant guarantee success, but it can go a long way toward reducing the odds of failure. Typical structure for a business plan cover page and table of contents executive summary business description business environment analysis industry background competitive analysis market analysis marketing plan operations plan management summary financial plan attachments and milestone, module 4 Contract, unit. Contract and its features. Essential Clauses of Contract, by law contracts are made by ukrainian foreign trade organisations in writing. When striking a deal standard contracts and widely used.
There is no fixed content for a business plan. Rather the content and format of the business plan is determined by the goals and audience. A business plan should contain whatever information is needed to decide whether or not to pursue a goal. For example, a business plan for a non-profit might discuss the fit between the business plan and the organizations mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organizations ability to repay the loan. Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation. A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.
How do you plan to repay any borrowings? What are your sources of revenue and income? Forecasts should cover a range of scenarios. Review business risks and develop contingency plans to offset the risks. Review industry benchmarks/averages for your type of business. Managing your finances, resources to help you understand financial concepts and learn about tasks like budgeting, financial analysis and bookkeeping. Performance Plus, find out how your firm measures up to comparable small businesses within your industry. Other Useful Information, the following sections are not always required, but will certainly enhance any business plan: Implementation Plan this section lists estimated dates of completion for different aspects of your business plan, targets for your business and milestones.
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This section of your business plan essentially turns your plans into numbers. As part of any business plan, you will need to provide financial projections for your business. Your forecasts should run for the next three to five years. However, the first 12 months' forecasts should have the most details, including assumptions both in terms of costs and revenues, so investors can clearly see your thinking behind the numbers. Your financial forecasts should include: cash flow statements this is a cash balance and monthly cash flow pattern for the first 12-18 months. It includes working capital, salaries and sales profit and loss forecast this is the level of profit you expect to make, given your projected sales, the costs of providing goods and services, and your overhead costs sales forecast this is the amount of money you. Things to consider: How much capital do you need, if you are seeking external funding? What security can you offer to lenders?daddy