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QUESTION CHAPTER 1 1 what are 5 steps in negotiating delivery? timing location transport risk title and insurance terms of trade 2 when must delivery take place? the date of dispatch from the factory the date of loading onto ship the date when the goods arrive at the destination 2 2 how to fix the date of delivery? (gap fill) the date of delivery may be a simple CALENDAR date if approvals or certificates are required, the contract may have two starting dates the date of SIGNATURE and the date of.
QUESTION CHAPTER 1: what are steps in negotiating delivery? - timing - location - transport - risk title and insurance - terms of trade when must delivery take place? - the date of dispatch from the factory - the date of loading onto ship - the date when the goods arrive at the destination 2.2 how to fix the date of delivery? (gap fill) - the date of delivery may be a simple CALENDAR date - if approvals or certificates are required, the contract may have two starting dates: the date of SIGNATURE and the date of COMING into force; delivery is fixed for a number of days after coming into force - if the contract has not come into force by a certain date – no delivery 2.3 typical clause: COMING INTO FORCE: - this agreement shall come into force after execution by both parties on the date of the last necessary approval by the competent authorities in the country of the seller and the buyer - if the contract has not come into force within ninety days of execution, it shall become null and void - the date of delivery shall be twenty-eight days after the date of coming into force of the contract - time is and shall be of the essence of this contract place of delivery: what is place of deliver? - when the goods are HANDED OVER to the carrier - when the goods are OFF LOADED in the buyer’s country - when the goods are SHIPPED ON BOARD in the exporter’s country - when the goods ARRIVE at the buyer’s warehouse Part ( Delivery) -Transport To introduce the key transport issues affecting the “main” export contract To stress the importance of correct, clean shipping documents in all transaction involving a letter of credit - Risk, Title and Insurance To distinguish between risk and title To suggest that retention of title is not always of particular advantage to the seller To note that responsibility to insure generally lies with the party who is at risk Transport: Packing and Marking 9.1 Packing: 1- In what conditions are good considered to conform to the contract? To avoid misunderstanding, the parties often regulate the matter (TRANSLATION) Goods are to be packed in new, strong, wooden cases suitable for long distance ocean transport and are to be well protected against dampness, shock, rust or rough handling The SELLER shall the liable for any damage to or loss of the Goods attributable to improper or defective packaging, Hàng hóa phải đóng gói thùng gỗ mới, chắc, phù hợp với việc vận chuyển xa đường biển phải bảo vệ tốt có chống ẩm, va đập, gỉ sét xử lý hàng mạnh tay người bán có nghĩa vụ phải chịu trách nhiệm cho hư hỏng , thất thoát hàng hóa việc đóng gói bị lỗi không phù hợp Nếu tàu người mua định không đến cảng trước vào ngày xác định người bán tự định đoạt đưa hàng vào kho xem hoàn thành nghĩa vụ giao hàng theo hợp đồng ( chỗ t chép thiếu) The BUYER shall advise the SELLER of the name of the vessel not later than Days before the agreed Delivery date If the vessel named by the BUYER fails to arrive on or before , then the SELLER may at his discretion deliver the Goods to a bonded warehouse in the port of and shall be deemed to have fulfilled his Delivery obligation under this contract In this event the SELLER must notify the buyer of the full circumstances of the delivery to the warehouse With delivery to the warehouse, all costs, including but not limited to cost of storage and insurance are to the Buyer’s account 9.2 Marking: What is marking concerned with? What will happen if packaging or marking are incorrect? - Identifying the goods - Handling the goods - Government regulation - If packing or marking are incorrect, payment under a L/C will be delayed Specimen clause (translation) On the surface of each package delivered under this Contract shall be marked: the package number the measurements of the package, gross weight, the lifting position, the letter of credit number, the words right side up, handle with care, keep dry, and the mark: DNP/36/Q lifting position: vị trí nâng hàng letter of credit number: Số tín dụng thư right side up: nhấc hàng theo phương thẳng đứng 9.3 Transport: Waybills 1. What are the five main Waybills (or Bills of Lading) Marine, Air, Rail, Road, Combined. 2. When is a Marine Bill of Lading as Negotiable instrument? In consignee box “ To order” 3. What is differences between Clean and Claused Bills of Lading Clean: no problem with appearance of the goods Claused: problem with appearance of the goods “Claused” : any apparent defects are noted on the way bill as “claused” When the carrier accept the goods, he examines the packaging. What will happen if a waybill bearing such clauses is not “clean”? The bank may not accept it for payment under L/C Specimen clause ( Translation) Packaging soiled by contents Packaging broken/ holed/torn/damaged Packaging contaminated Goods damaged/ scratched Goods chafer/torn/deformed: biến dạng Packaging badly dented Packaging damaged0 contents exposed: lộ hàng insufficient packaging: bao bì đóng khơng đủ 10 Risk, title and insurance 10.1 Title, Risk and insurance 1-Define risk and title? Risk of loss of or damage to the goods or risk of the goods injuring 3rd party Transfer risk and title? Under incoterms, delivery is defined as the point at which risk pass from S to B, Some S try to retain the ownership of the goods until the B paid for them in full A clause securing retention of title might run: Property, legal or beneficial in any goods supplied by the seller shall pass to the buyer only when the seller has received full payment for all sums then owed by the buyer to the seller 2. Goods in respect of which property has remained with the seller shall be kept identifiable as those of the seller, and the buyer shall at its own expense immediately return such goods to the seller, or permit the seller to enter into the buyer’s premises to collect such goods should the seller so request. 3. Name some feature of penalties? Name the main kinds of insurance policies? Make the differences among them? -Floating policy; open cover; valued policy; unvalued policy; time policy; voyage policy Some feature of liquidity damages: The sum is fixed in advance with the agreement of the parties related; The sum is fair; the objective is to compensate; there is always a maximum for the sum QUESTION IN BOOK where is risk often passed from the exporter to the importer at the point of delivery what are Modes of transportation Sea, Air, Inland (road, rail, Barge, Mail, Mixture) where does transfer of ownership take place Any point between signature of contract and final payment for goods what are kinds of delay in delivery excusable delay, non-excusable delay what events does delivery dates trigger = start Exporter fulfills duties under the contract Payment made become due risk and title pass to the Buyer name type of insurance policy floating, valued, unvalued, tailor-made, open cover, time, voyage name some features of liquidated damages The sum is fixed in advance with the agreement of the parties related the sum is fair the objective is to compensate there is always a maximum for the sum name some features of penalties The sum is fixed in advance with the agreement of the parties related the sum is big the objective is to punish the sum is subject to actual loss how to fix the delivery date In a contract to use a straight forward calendar date or a period of time 10 when Is a contract binding and effective After the date of coming into force 11 what is the importance of a well-designed set of specifications Protect the seller and buyer the exporter CHAPTER 2: Negotiating Price and Payment list all changes must affect price: - size of order - specification -packaging and safety warnings - payment term -delivery -warranty period -incoterms what are five steps in negotiating payment? - mode of payment -timing -place of payment -delay -result of delay _step 1: method of payment: state some common methods of payment in international trade? + payment on open account with no security + payment on open account secured by export credit insurance + payment on open account secured by a payment guarantee + payment by L/C _step 2: time of payment: how to mention the time of payment in a contract? è the time for payment can be regulated in ways: + they are enter calendar date (ex: 30th june) + interval time (ex: within 30 days of date on invoice) _step 3: place of payment: where can payment take place? + payment can be said to occur when the importer pays money to his bank for transferring to the seller (for the buyer) + + payment shall be deemed to have been made only when the contract sum in paid into the seller's bank account and is at the seller's full disposal (for the seller) _step 4: delay in payment: define delay in payment? + force Majeure can cause payment to be delayed _step 5: results of delay in payment: if payment is late, what must a buyer normally do? + the buyer must normally pay an interest on all sum owned to the exporter “If payment of any sum payable is delayed, the seller is entitled to receive an interest on the amount unpaid during the period of delay The interest shall be at an annual rate three percentage point above the discount rate of the central bank in the seller’s country.” “specimen clause: the price for the goods to be delivered under this contract is () Payment shall be made by means of an irrevocable confirmed L/C the buyer shall open the L/C on or before on the terms agreed by the parties and annexed to this contract as appendix This contract shall not come into force under clause 16 below until the seller has received advice that the L/C has been opened in his favor and has ascertained that the terms are in accordance with those agreed between parties Any discrepancy between the terms are in accordance with those agreed between parties Any discrepancy between the terms agreed by the parties and the L/C as issued shall be notified by the seller to the buyer immediately Export credit insurance 3.1 What is Export credit insurance? 3.1 What is Export credit insurance used for? Document ensure exporter against the risk of non-payment To recover the cost of goods exported but not paid for, allow the exporter to trade on open account 3.2 What is bank guarantee? What are common guarantee? What is each for? It promises from the guarantor to pay money to the beneficiary if the principle break its promises Tender guarantee: đảm bảo thực thầu Advance payment: đảm bảo trả tiền Common guarantee: · payment guarantee ( risk of non-payment) · Tender guarantee (risk of cancellation an offer) · Performance guarantee (risk of non-performance or inadequate performance) · Advance payment guarantee (risk of loosing pre payment) L/C: principles What is Letter of credit? A L/C adds a bank promises to pay the exporter to a sum of money of the foreign buyer provided that the exporter has complied with all the terms and condition of the L/C Separate with the sales contract State the principles of the letter of credit? Autonomy: is a contract in its own right, entirely separate from Sales contract Strict compliance: exporter must present to the bank shipping document that comply in all respects with the terms and condition of L/C, small deviations will result in refusal by the bank to pay 4.2 The principle of autonomy: Ex3: A letter of credit is an "autonomous" contract: it has no legal connection with the export contract which it supports, the bank must pay the seller if the document presented are correct This principle defends the interest of the seller 4.3 The principle of strict compliance The bank promises to pay if the documents presented are correct if the documents in any way fail to comply strictly with the terms of the letter of credit, the bank must refuse to pay This principle defends the interest of the importer Notification from the Advising Bank In practice, all letters of credit are irrevocable The advising bank always notifies the seller that the letter of credit has been opened the letter of credit always contains an indication of whether or not the advising bank confirms the credit. If the letter of credit is confirmed, then the advising bank must pay the exporter on exactly the same amount as the issuing bank. That means the exporter can, if the credit is suitably worded, collect payment immediately after delivery. Letter of credit: associated documentation Documents required a Letter of Credit is a “documentary credit” it can be paid only against document. The parties should agree which documents are important to them not leave the decision to the bank. key documents commercial invoice transport docs insurance docs other common documents certificate of origin certificate of inspection special requirements Specification the Letter of Credit should state exactly what documents are required including any special requirements as to: signature sources notarization exact contents common Discrepancies reported by Banks problems with the Letter of Credit Documents required by the credit are missing documents required to be signed are not signed the credit amount is exceeded the credit has expired or documents are presented within the required time shipment was short or late problems with the Bill of lading the bill of lading is “uncleaned” a marine bill of lading is required, but the bill does not state that the goods were “shipped on board” a named vessel the bill of lading shows shipment between ports other than those specified in the credit the bill of lading shows that the goods were shipped on deck. (forbidden) the bill of lading offers no evidence that freight was paid by the exporter (if this was required) There is no endorsement (if endorsement is necessary). Problems with Insurance • The insurance document is not of the type specified in the credit • The insurance risks are not those specified in the credit • Insurance cover is expressed in a currency other than that of the credit • Insurance cover begins after or ends before the date of the transport document Inconsistencies among the Documents • Description of the goods on the invoice and in the credit are different • Weights differ between two documents • Marks and numbers differ between two documents Issuing a letter of credit exporter and buyer sign a contract The buyer asks a local bank to open a letter of credit The issuing bank askes a band in the exporter’s country to advise the exporter that the letter of credit has been opened The advising bank advises the exporter that the letter of credit has been opened. Presenting letter of credit Seller ships the goods and gets shipping documents The exporter presents the shipping documents to the advising bank The advising bank checks the documents and (if appropriate) pays the exporter The advising bank notifies the issuing bank that the credit has been presented and forwards the shipping documents The issuing bank transfers necessary funds to the advising bank Method of payment 10.1 settlement by sight payment The Seller presents the documents to the paying bank. The paying bank immediately pays the seller. 10.2 settlement by deferred payment The seller presents the documents to the paying bank. The paying bank agrees to pay the seller the face value of the credit when it matures. If the seller needs money immediately, he can exchange the letter of credit for cash (at a discount) with any agreeable bank. 10.3 settlement by acceptance The seller presents to the accepting bank the documents and a bill of exchange (time draft) drawn usually on the buyer. The accepting bank agrees to pay the bill when it matures. If the seller needs money immediately, he can exchange the letter of credit for cash (as a discount) with any agreeable bank 10.4 settlement by negotiation The seller presents to the negotiating bank the documents and a bill of exchange drawn usually on the buyer. The negotiating bank negotiates the bill (at a discount). QUESTION: 1. What are the common methods of payment in international trade? Payment on open account with no security / secured by export credit insurance Payment on open account secured by a payment guarantee Payment open letter of credit What are methods of payment in small purchase cash on delivery cash against invoice cash with order what kind of method of payment makes late payment impossible The confirmed irrevocable at sight L/C when delay in payment is excused? Delay happens in the grace period Delay is caused by Force Majeure What does the insurance premium depend on The type of goods The creditworthiness of the buyer the stability of the Buyer’s Country and so on what is the guarantee triangle That is the relationship of the principal, guarantor, and beneficiary in terms of guarantee 7.what are the business situations that commonly use guarantee Non payment, reservation, non-performance, losing prepayment what are the guarantees used in the following business situations Payment tender Guarantee (thực thầu) performance (thực hoạt động) prepayment Name types of L/C you know revocable - irrevocable, confirmed - unconfirmed, At sight, back to back, resolving, stand by L/C (dự phòng) 10 What is export credit insurance Export credit insurance is a guarantee of payment for the exporter from a third party, an insurance company, which issues an export credit insurance policy covering the risk of non-payment The exporter has to pay the costs for that guarantee The insurance company will pay the exporter in case the buyer fails to so 11.what is bank guarantee A bank guarantee is a guarantee of payment for the exporter from a third party, a bank The bank may issue a bank guarantee assuring in case the bank will pay for the exporter in case the buyer fails to so The buyer has to pay the costs of that guarantee 12 Distinguish Export credit insurance and Bank guarantee - Both of them are guarantee of payment from a third party, providing the exporter with some level of security in terms of payment - For ECI, the exporter has to pay for that guarantee while it is the buyer who pays for a Bank Guarantee The third party offering export credit insurance is the insurance company while the bank offers a Bank Guarantee 13 What are some limitations of export credit insurance Though ECI seems to be so attractive, it has certain limitations Firstly, there is always a long wait between the time when the buyer fails to pay and the time when the insurance company compensates the exporter, says months Secondly, when the compensation is paid, it is unlikely to cover 100% of the original invoice price So, with ECI, the exporter is covered against the worst 14 what kind of method of payment makes late payment impossible The confirmed irrevocable at sight L/C 15 distinguish Irrevocable and Revocable Letter of Credit A revocable L/C is the L/C that can be canceled at any time by the Buyer or by the issuing bank while an Irrevocable L/C is the L/C that can only be canceled with the written consent of CHAPTER 3: 1. Why do companies have quality assurance programs? Because no manufacturer can product perfect products all the time. Moreover, quality is a key issue and customer satisfaction is essential to successful business. So companies have quality assurance program to ensure that customers get what they paid for to ensure customer satisfaction. 2. Why may conflicts arise in negotiating specifications? Because it is a difficult process. The manufacturer often tempted to be over optimistic and to agree to impossible specifications, which is very risky in business. Conflicts can arise even with in the exporter’s own team: the marketing manager is eager to sell brilliant products, but the production department knows that it cannot make them 3. What is the benefit of a welldesigned set of specifications? It protects both the buyer and the seller: the buyer is protected against inferior products as he can reject any products that fail to meet specification, the seller can protect its reputation and avoid cost. 4. What kind of goods needs predelivery inspection? Give example. All kinds if goods, especially sophisticated items or capital equipment. 5. is used as an example or rea son for a present action o r event nts for this sort of coope rationbetween or ganizations Execute (v) /ˈeksɪˌkjuːt/ to follow the instructions in a legal document; to make a document legally valid Thi hành His will was executed by his lawyers in 2008 Associate (n) /əˈsəʊʃiət/ a person that you work with, do business with or spend a lot of time with Cộng sự, đối tác A business associate Gazetted public holiday /gз'zet/ Announced public holiday Ngày nghỉ lễ đã được thông báo If the thirtieth (30th) day falls on a Sunday or a gazetted public holiday … Bona fide claim / bona fai kleim/ Genuine, real or legal, not false Khiếu nại chân thành If CLIENT receives a bona fide claim from CONTRACT OR 's suppliers … Undisbuted /¸ʌndis´pju:tid/ That cannot be questioned or proved to be false; that cannot be disputed That everyone accepts or recognizes Không xảy ra tranh chấp Payments of undisputed invoiced items shall be made … Table 2: Contract translation CONTRACT IN ENGLISH (Exercise) TRANSLATION INTO VIETNAMESE ARTICLE 7 INVOICING AND PAYMENTS ĐIỀU 7 – XUẤT HĨA ĐƠN VÀ THANH TỐN 7.1. At the beginning of each calendar month, CONTRACTOR shall invoice CLIENT for WORKS performed during the previous month The invoice may include any amounts due to CONTRACTOR which has not been invoiced previously, as well as charges, if any, made by CONTRACTOR for expenditure on CLIENT's behalf Expenditures on CLIENT's behalf shall be authorized in writing by CLIENT Contract Administrator before being incurred 7.1. Vào đầu mỗi tháng theo dương lịch, NHÀ THẦU phải gửi hóa đơn cho ( CHủ ĐẦU TƯ) cho CƠNG TRÌNH được thực hiện trong tháng trước. Hóa đơn có thể bao gồm bất kỳ những khoản phí đáo hạn cho NHÀ THẦU mà chưa được ghi hóa đơn trước đây, cũng như những khoản phí, nếu có, NHÀ THẦU chi trả thay mặt KHÁCH HÀNG. Những khoản phí thay mặt KHÁCH HÀNG phải được ủy quyền bằng văn bản bởi Người quản lý hợp đồng của KHÁCH HÀNG trước khi được thực hiện 7.2 All invoices claimed by CONTRACTOR shall be itemized as being directly associated with the CONTRACT and shall be verified and signed by the authorized signatory designated in ARTICLE 18.0 prior to submission to CLIENT for payment Invoicing for WORKS performed shall be kept current at all times 7.2. Tất cả hóa đơn u cầu thanh tốn NHÀ THẦU phải phân mục theo cách có liên quan trực tiếp đến hợp đồng và phải được xác nhận và ký bởi người ký được ủy quyền được nêu trong Điều 18 trước trình cho KHÁCH HÀNG để thanh tốn. Việc lập hóa đơn cho CƠNG TRÌNH đã được thực hiện phải được cập nhật liên tục 7.3 Any charges made by CONTRACTOR for items reimbursable at actual cost under this CONTRACT or payments made on CLIENT's behalf shall be net of all discounts and allowances, whether or not taken by CONTRACTOR plus appropriate handling cost as specified in EXHIBIT IV and be supported by sufficient documentation to fully support such reimbursement and permit verification thereof by CLIENT 7.3 Bất kỳ chi phí chi trả NHÀ THẦU cho những khoản có thể hồn lại giá thực HỢP ĐỒNG khoản toán NHÀ THẦU chi trả thay mặt KHÁCH HÀNG phải được loại bỏ tất cả những khoản chiết khấu hoặc khấu trừ, dù NHÀ THẦU có thực hiện hay khơng, cộng thêm chi phí BỐC DỠ xử lý hợp lý như đã được nêu trong PHỤ LỤC IV, và phải được kèm theo đầy đủ chứng từ để chứng minh toàn diện những khoản bồi hoàn như thế để cho phép xác nhận khoản đó bởi KHÁCH HÀNG 7.4. Invoices shall indicate the CONTRACT number and title and shall 7.4. Hóa đơn phải chú thích số và tiêu đề của HỢP ĐỒNG và phải được làm thành be submitted in one (1) original and one (1) copy each complete with the necessary documentation required by CLIENT and shall be addressed to: …………………… một (1) bản chính và một (1) bản Phơ tơ, mỗi bản kèm theo những chứng từ cần thiết u cầu bởi KHÁCH HÀNG và sẽ được gửi đến: 7.5 Payments of undisputed invoiced items shall be made on or before the thirtieth (30th) day after receipt thereof If the thirtieth (30th) day falls on a Sunday or a gazetted public holiday, the next working day shall be deemed to be the due day for payment. Payments in respect of disputed items may be withheld by CLIENT until the settlement of the dispute by mutual agreement. Payments made by CLIENT shall not preclude the right of CLIENT to thereafter dispute any of the items invoiced 7.5. Việc thanh tốn cho những khoản khơng xảy ra tranh chấp sẽ được thực hiện vào hoặc trước ngày thứ 30 sau khi nhận được hóa đơn. Nếu ngày thứ 30 rơi vào ngày chủ nhật hoặc ngày nghỉ lễ đã được thơng báo thì ngày làm việc tiếp theo sẽ được coi là hạn thanh tốn. Đối với khoản toán cho hạng mục bị tanh chấp thì sẽ bị phía Chủ đầu tư lùi lại cho tới khi nào tranh chấp giải thương lượng đôi bên Việc toán KHÁCH HÀNG sẽ không loại trừ quyền KHÁCH HÀNG đối với tất những điều phát sinh sau đó liên quan đến các khoản mục liên ghi trong hóa đơn 7.6. In the event that CLIENT disputes any items on a particular invoice CLIENT shall only be entitled to withhold from payment the actual amount in dispute. If CLIENT disputes any items on an invoice, CLIENT shall inform CONTRACTOR of the disputed item within thirty (30) days of the receipt by CLIENT of that particular invoice 7.6. Trong trường hợp có tranh chấp bất kỳ khoản mục nào trong một hóa đơn cụ thể, KHÁCH HÀNG chỉ có quyền giữ lại phần thanh tốn thực tế đang tranh chấp. Nếu KHÁCH HÀNG tranh chấp bất kỳ mặt hàng nào trong hóa đơn, KHÁCH HÀNG sẽ thơng báo cho NHÀ THẦU về những v khoản mục đang tranh chấp trong vịng 30 ngày kể từ ngày nhận được hóa đơn đó 7.7 CLIENT shall be entitled to withhold payment if any of CONTRACTOR's invoices not include the supporting documentation required by CLIENT 7.7 KHÁCH HÀNG có quyền giữ lại phần thanh tốn nếu như có bất kỳ hóa đơn NHÀ THẦU không bao gồm các chứng từ hỗ trợ mà KHÁCH HÀNG đã yêu cầu 7.8. As a condition precedent to making any payments to CONTRACTOR, CONTRACTOR shall, if requested by CLIENT provide satisfactory evidence 7.8. Một điều kiện tiên quyết để NHÀ THẦU nhận bất khoản toán nào là NHÀ THẦU, nếu như được KHÁCH HÀNG yêu cầu, phải cung cấp that the payment for all labour, materials, equipment and other obligations arising out of the performance of this CONTRACT have been fully specified and discharged. If CLIENT receives a bona fide claim from CONTRACTOR's suppliers or Sub contractors that they have not been paid by CONTRACTOR for WORKS done or material furnished in connection with the performance of WORKS under this CONTRACT, CLIENT shall first consult with CONTRACTOR with respect to such complaint. If after such consultation, CLIENT is of the reasonable opinion that such complaint is valid, CLIENT shall be entitled to withhold such amounts from payments due to CONTRACTOR under this CONTRACT until CONTRACTOR discharges such claims whereupon CLIENT will immediately release such sums withheld to CONTRACTOR các bằng chứng thuyết phục chứng mình rằng việc trả lương cho người lao động, thanh tốn tiền ngun vật liệu, thiết bị cũng như các nghĩa vụ khác phát sinh trong quá trình thực hiện hợp đồng này đã được tuân thủ và chi trả đầy đủ. Nếu KHÁCH HÀNG nhận khiếu nại thiện chí từ người cung cấp của NHÀ THẦU người phụ trách NHÀ THẦU rằng họ chưa được NHÀ THẦU thanh tốn cho cơng trình đã hồn thành hoặc ngun vật liệu được trang bị liên quan đến việc thực hiện cơng việc theo hợp đồng nay, thì KHÁCH HÀNG sẽ phải tham vấn với NHÀ THẦU trước tiên theo như những khiếu nại đó. Nếu sau tham vấn xong, KHÁCH HÀNG có ý kiến chính đáng rằng khiếu nại đó là đung, thì KHÁCH HÀNG có quyền hỗn những khoản thanh tốn cho NHÀ THẦU theo hợp đồng này cho đến khi NHÀ THẦU chi trả đầy đủ cho những khiếu nại, theo đó, KHÁCH HÀNG ngay lập tức thanh khoản những khoản đang giữ cho NHÀ THẦU 7.9. All payments to CONTRACTOR by CLIENT under the terms of this CONTRACT shall be in United States Dollars 7.9 Mọi khoản tiền KHÁCH HÀNG phải trả cho NHÀ THẦU theo các điều khoản hợp đồng phải thanh tốn bằng Đơla Mỹ 7.10. Upon notification of any erroneous billings made by or payments made to CONTRACTOR by CLIENT, CONTRACTOR shall within fourteen (14) days, make appropriate adjustments therein and reimburse to CLIENT any amounts of overpayment still outstanding as reflected by said adjustments Notwithstanding the foregoing, CLIENT shall be entitled to deduct such amount 7.10. Khi có thơng báo về bất kì hóa đơn toán lỗi NHÀ THẦU từ KHÁCH HÀNG, trong vịng 14 ngày, NHÀ THẦU phải có sự điều chỉnh thích hợp bồi hoàn lại cho KHÁCH HÀNG khoản tiền thừa tồn động theo như được nêu trong sự điều chỉnh đó. Mặc dù đã được đề cập trên, KHÁCH HÀNG quyền khấu trừ khoản tiền thừa ra khỏi phần thanh toán tới hạn cho NHÀ from payment due to CONTRACTOR. Accordingly, CLIENT shall pay CONTRACTOR any amount of under payment subject to verification thereof THẦU Theo đó, KHÁCH HÀNG phải trả cho NHÀ THẦU bất kì khoản tiền chưa trả theo sự xác nhận được đề cập 7.11 Payment made under this CONTRACT shall not preclude the right of CLIENT to thereafter dispute any of the items invoiced and shall not constitute an admission by CLIENT as to the performance by CONTRACTOR of its obligations hereunder and in no event shall any such payment affect the warranty obligations of CONTRACTOR Any payments withheld shall be without prejudice to any other rights or remedies available to CLIENT 7.11. Thanh tốn được hồn thành theo hợp đồng này sẽ khơng ảnh hưởng đến quyền lợi của KHÁCH HÀNG với bất kì tranh chấp về sau về các khoản mục đã gnhi hóa đơn và sẽ khơng phải là cho phép KHÁCH HÀNG đối với việc hoàn thành các nghĩa vụ trong hợp đồng NHÀ THẦU trường hợp, việc tốn khơng ảnh hưởng đến nghĩa vụ bảo hành NHÀ THẦU Bất kì tốn nào bị từ chối cũng sẽ khơng làm ảnh hưởng đến quyền lợi khác KHÁCH HÀNG 7.12. All invoices, financial settlements and billings by CONTRACTOR to CLIENT shall reflect properly the facts relating to all activities and transactions handled for CLIENT's account 7.12. Tất cả mọi hóa đơn, và quyết tốn tài NHÀ THẦU đối với KHÁCH HÀNG đều là căn cứ chính xác cho các hoạt động và giao dịch mà chủ đầu tư phải trả 7.13. All payments to CONTRACTOR shall be made to: 7.13. Tất cả các thanh tốn cho NHÀ THẦU phải được thực hiện theo ARTICLE 8 – BANK GUARANTEE PERFORMACE GUARANTEE ĐIỀU 8 – BẢO LÃNH NGÂN HÀNG / BẢO LÃNH THI HÀNH 8.1 CONTRACTOR shall furnish to CLIENT an irrevocable first call and unconditional Bank Guarantee in the format set out in EXHIBIT VI "BANK GUARANTEE FORMAT" of this CONTRACT issued by a commercial bank operating in Malaysia or in Vietnam and acceptable to CLIENT within thirty (30) days of the award of this CONTRACT by way of guarantee for the due performance by CONTRACTOR of its obligations under this CONTRACT The Bank Guarantee shall be effective 8.1 NHÀ THẦU phải cung cấp cho KHÁCH HÀNG Bảo lãnh Ngân hàng khơng hủy ngang khơng điều kiện và trả ngay theo mẫu có sẵn trong PHỤ LỤC VI "MẪU BẢO LÃNH NGÂN HÀNG" của hợp đồng này, được phát hành ngân hang thương mại hoạt động Malaysia hoặc Việt Nam chấp thuận KHÁCH HÀNG trong vòng 30 ngày kể từ ngày chấp nhận hợp đồng cách đảm bảo việc thực hiện kịp thời các nghĩa vụ của hợp đồng. Bảo lãnh Ngân hàng phải có hiệu lực từ Ngày from the Effective Date and shall remain valid ninety (90) days after the completion of CONTRACT duration or thirty (30) days after submission of the last invoice whichever comes later and/or any extension thereto, and its value shall be 5% of CONTRACT value. Such guarantee shall be binding on CONTRACTOR notwithstanding such variation, alterations, or extensions of time as may be made, given, conceded, or agreed under this CONTRACT. The expenses incurred in preparing, completing, and stamping such instrument shall be borne by CONTRACTOR có hiệu lực hợp đồng hợp lệ trong 90 ngày kể từ ngày hoàn thành thời hạn hợp đồng hoặc 30 ngày kể từ ngày nộp hóa đơn cuối cùng, tùy thời gian nào đến sau và/hoặc nếu có gia hạn Giá trị Bão lãnh Hợp đồng phải bằng 5% giá trị Hợp đồng. Bảo lãnh Ngân hàng này phải ràng buộc NHÀ THẦU kể cả nếu có sự thay đổi, điều chỉnh hay kéo dài thời gian xảy ra, được thừa nhận hay chấp nhận theo hợp đồng. Mọi chi phí phát sinh trong q trình chuẩn bị, hồn tất hay lấy con dấu xác nhận cho bảo lãnh ngân hàng được chi trả bởi NHÀ THẦU 8.2. Should the expiry date of the Bank Guarantee required to be furnished pursuant to ARTICLE 8.1 occur before the expiry period mentioned before, CONTRACTOR shall provide, at least fourteen (14) days before the date of expiry, a fresh guarantee in the form similar to and in the same amount of that previously provided, except for a revised date of expiry which shall be not earlier than ninety (90) days after the end of the duration of this CONTRACT or thirty (30) days after submission of the last invoice whichever comes later and any extension thereof Should CONTRACTOR fail to provide the fresh Bank Guarantee as required, CLIENT shall without prejudice to all its other right under the CONTRACT or the law, invoke the Bank Guarantee referred to in ARTICLE 8.1 or otherwise have the right to withhold any payments due or becoming due after the date of such failure by CONTRACTOR. 8.2 Nếu ngày hết hạn Bảo lãnh Ngân hàng, theo như được yêu cầu cung cấp trong ĐIỀU 8.1, xảy ra trước thời hạn hết hạn nhắc đến trước đó, NHÀ THẦU phải cung cấp, ít nhất 14 ngày trước ngày hết hạn, một bảo lãnh ngân hàng mới với hình thức tương tự và cho cùng khoản tiền được cung cấp trước đó, ngoại trừ việc ngày hết hạn được sửa lại không sớm hơn 90 ngày sau ngày kết thúc hợp đồng 30 ngày sau khi nộp hóa đơn cuối cùng, tùy thời gian nào đến sau và nếu có gia hạn. Nếu NHÀ THẦU khơng cung cấp Bảo lãnh ngân hàng mới theo u cầu, KHÁCH HÀNG sẽ có quyền dẫn u cầu Bảo lãnh ngân hàng theo như điều khoản 8.1 hoặc mặt khác có quyền tạm hỗn các khoản thanh tốn đến hạn hoặc đến hạn sau ngày NHÀ THẦU khơng cung cấp bảo lãnh ngân hàng đó, mà khơng ảnh hưởng đến quyền khác mà KHÁCH HÀNG có theo hợp đồng hoặc luật pháp 8.3 If the Bank Guarantee to be furnished pursuant to ARTICLES 8.1 and 8.2, is not duly furnished by CONTRACTOR to CLIENT within the above prescribed period, CLIENT may at its option and without prejudice to any rights or claims it may have against CONTRACTOR by reason of CONTRACTOR'S non compliance with the provisions of this ARTICLE, withhold an amount equivalent to the Bank Guarantee as required under this ARTICLE from payment due to CONTRACTOR under this CONTRACT until such time the Bank Guarantee is furnished by the CONTRACTOR whereupon CLIENT will immediately release such sums withheld to CONTRACTOR, or terminate this CONTRACT by notice in writing to CONTRACTOR. In the case of termination, CLIENT shall thereupon not be liable for any claim or demand from CONTRACTOR under the provisions of this CONTRACT in respect of anything then done or furnished, or in respect of any matter or thing whatsoever in connection with or relating to this CONTRACT 8.3. Nếu Bảo lãnh ngân hàng theo quy định phải được cung cấp theo ĐIỀU 8.1 VÀ 8.2 không được NHÀ THÀU cung cấp đầy đủ cho KHÁCH HÀNG trong khoảng thời gian đã quy định, KHÁCH HÀNG có thể tồn quyền quyết định mà khơng làm ảnh hưởng đến quyền hoặc khiếu nại có thể có, chống lại NHÀ THẦU vì lí do NHÀ THẦU đã khơng hồn thành nghĩa vụ của ĐIỀU KHOẢN này, giữ lại một khoản thanh tốn tương đương bảo lãnh Ngân hàng theo như u cầu điều khoản cho NHÀ THẦU theo như HỢP ĐỒNG này cho tới khi Bão lãnh Ngân hàng được cung cấp NHÀ THẦU, sau KHÁCH HÀNG sẽ ngay lập lức trao phần tiền đã giữ lại cho NHÀ THẦU, hoặc thơng báo bằng văn bản chấm dứt hợp đồng cho NHÀ THẦU Trong trường hợp chấm dứt hợp đồng, KHÁCH HÀNG sẽ ngay sau đó khơng chịu trách nhiệm cho bất kì u cầu nào từ NHÀ THẦU về các điều luật trong HỢP ĐỒNG này trên cơ sở mọi việc đã được hồn thành hoặc được cung cấp, hoặc trên cơ sở mọi vấn đề hoặc bất cứ các việc có liên quan đến HỢP ĐỒNG 8.4 Notwithstanding the above, as a condition precedent to the award of this CONTRACT, CONTRACTOR shall, if requested by CLIENT, furnish CLIENT with a Performance Guarantee duly executed by the principal, associate or parent company of CONTRACTOR in the form as provided in EXHIBIT VII "PERFORMANCE GUARANTEE FORMAT" hereof 8.4. Mặc dù vậy, như là điều kiện tiên quyết cho phần thưởng của HỢP ĐỒNG này, NHÀ THẦU sẽ, nếu được yêu cầu KHÁCH HÀNG, cung cấp cho KHÁCH HÀNG 1 Bảo lãnh Hiệu suất được kí bởi giám đốc, nhân viên hoặc cơng ty mẹ của NHÀ THẦU dưới hình thức được quy định trong PHỤ LỤC VII – “MẪU BẢO LÃNH THI HÀNH” trong hợp đồng này Business Contract Translation Assignment 2016 1. Class: K52CLC2 Group: (5 members) 3. Group members: (full names and index, group leader): Table 1: (50 words or expressions extracted from the exercise) Word/ expression Pronunciation Explanation in English Meaning in Vietnamese Sentence exam Affluent (a) / 'ỉfluənt/ rich, welloff, wealthy, prosperous Giàu có Affluent Weste countries have implemented p to assist deve countries Word/ express io n Pronunci ati on Explanation in English Meaning in Vietnamese Sentence example assign /əˈsʌɪn/ (v) allocate (a job or duty) (v) transfer (legal rights or liabilities) Chỉ định, chuyển nhượng - Congress assigned th to the agency - They will ask you to a your rights against the appoint /əˈpɔɪnt/ (v) assign a job or role to (someone) (v) determine or decide on (a time or a place) (v) decide the disposal of (property of which one is not the owner) under powers granted by the owner Bổ nhiệm - She has been appoin the board - They appointed a day for the meeting - Trustees appoint the c to the beneficiaries accomp lis h /əˈkʌmplɪʃ/ (v) Achieve or complete successfully Hoàn thành, thành tựu - The planes accomplis their mission attributa bl e /ə ˈtrɪb.jə.tə b əl/ (a) Caused by Có thể quy cho - Do you think that higher than-a temperatures are attri to global warming? adequacy /ˈædəkwəsi/ (n) The quality of being good enough for a Sự tương xứng, thích đáng - Questions were raise the adequacy of the fir control procedures particular purpose breach /briːtʃ/ (n) An act of breaking a law, promise, Phạm luật - They felt that our disc with other companies constituted (a) Of or concerning the body (a) In one mass; as a whole Thuộc thể, toàn - Children learn to cont their bodily functions - He built ships on the A shore, transporting the over the hills and sailin off into the Pacific Not subject to or affected by (something undesira ble) Khơng có lỗi, không bị ảnh hưởng - Be free from defects i (v) (Of a person or group) act in accordance with a wish or Tuân theo - We are unable to com with your request agreement, or relationship a breach of/in our agreement bodily /ˈbɒdɪli/ Be free from comply /kəmˈplʌɪ/ command compre he nsive /kɒmprɪ ˈhɛns ɪv/ (a) Complete; including all or nearly all elements or aspects of something Toàn diện, bao quát - A comprehensive list o conduct /ˈkɒndʌkt/ (n) The manner in which an organization or activity is managed or direct ed Điều khiển - The conduct of the ele comme nc e /kəˈmens/ (v) To begin something Bắt đầu - We will commence bu work in August of next /dɪˈfɪʃ(ə)nsi/ (n) A lack or shortage Thiếu sót - Deficiencies in materi resources deduct /dɪˈdʌkt/ (v) Subtract or take away (an amount or part) from a total Khấu trừ - Tax has been deducte the payments defective /dɪˈfek.tɪv/ (a) Something that is defective has a fault in it and does not work correctly Có khuyết điểm - I think that theory is d ensure /ɪnˈʃɔːr/ (v) to make something certain to happen Bảo đảm - The airline is taking s to ensure safety on its aircraft endorse m ent /ɪn ˈdɔːs.mən t/ (n) the act of saying that you approve of or support something or someone Chứng thực đằng sau - He hoped to secure q endorsement of the pla the president foregoing /ˈfɔːɡəʊɪŋ/ (a) Just mentioned or Đã kể - The foregoing discuss deficiency 10 11 12 13 14 15 16 17 18 stated; preceding juxtaposed management and owner control hereof hereunder herein /ˌhɪəˈrɒv/ (adv) of the thing or document that is being talked about - This Agreement shall commence on the date signature hereof /hɪərˈʌndə/ (adv) As provided for under the terms of this document Dưới - All expenses incurred hereunder by the bank recoverable /hɪərˈɪn/ (adv) In this document or book Ở - The Company accept responsibility information contained indemnity /ɪnˈdɛmnɪti/ (n) Security or protection against a loss or other financial burden Bồi thường - No indemnity will be g for loss of cash In accorda nc e with /əˈkɔː.dəns/ Following or obeying a rule, law, wish, etc Thể theo… - In accordance with he wishes, she was burrie France invoke /ɪnˈvəʊk/ (v) To use a law in order to achieve something, or to mention something in order to explain something or to support your opinion or action Dựa vào luật… - Police can invoke the regulate access to thes places insuffici en t /ˌɪn.sə ˈfɪʃ.ənt / (a) Not enough Không đầy đủ, thiếu - There was insufficien to fund the project (of laws, rules, or systems) existing and being used Có hiệu lực - New driving regulation going to come into forc year in force 19 interpret /ɪnˈtɜː.prɪt/ (v) To decide what the intended meaning of something is Làm phiên dịch - It's difficult to interpre these statistics withou knowing how they wer obtained incident /ˈɪn.sɪ.dənt/ (n) An event that is either unpleasant or unusual Bất ngờ, xảyxảy - A youth was seriously in a shooting incident o Saturday night notifica tio n /ˌnəʊ.tɪ.fɪ ˈke ɪ.ʃən/ (n) The act of telling someone officially about something, or a document that does this Thông báo - You must give the ban written notification if yo to close your account Notwith sta nding /nɒtwɪð ˈstan dɪŋ/ (prep) Nevertheless, in spite of Tuy nhiên - Notwithstanding the e the consensus is that th will not reach a verdict 20 21 22 23 24 25 26 27 28 29 30 ... supplements is are their main protection. 7. The United Nations Convention? ?on? ?Contracts for the International Sale of Goods, (the (7) Convention) is the law of any country that adopts (8) it. When the Convention conflicts with existing (9) national law, the Convention prevails... When one party breaches a contract, the other has the right to demand cancellation of the contract. 10 .What is recession? The parties may simply agree to end their contractual relationship 11 .What are the ways to solve disputes? Conciliation: an amicable settlement ... says nothing, then the applicable (13 ) law decides if rejection of a consignment can be partial or total (14 ) English law requires total rejection; German law and the United Nations Convention? ?on? ?Contracts for the international Sale of Goods allow rejection