group assignment international trade transactions

THE BUYER THE SELLER Article 1: Commodity-Quality-Quantity-Price -The commodity term is used to specify the type of goods or products being traded.. The seller is generally obligated to

Phùng Văn Thành Phan Quang Thiện Nguyễn Kim Ngọc Nguyễn Xuân Trường

Danang, November 18", 2023

CONTENTS

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116 MPaiix i10 0n 7 C CHECK ALL THE DOCUMENTS TO SPOT ANY DISCREPANCIES OR ERRORS, AND ANALYZE EACH DOCUMENT uo cicccececccteceeeresteeeeesteeneesneeenieeen 8

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II Commercial

IL Packing list

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D THE PROCEDURE THAT THE VIETNAMESE PARTNER NEEDS TO DO TO

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CONTRACT This Contract was made and entered into by and between

Seller: Name of company: KISWEL LTD Address: ADDRESS: 43-1, 7™ FLOOR, HEUNGKOOK BUILDING, JUJA- DONG, CHUNG-GU, SEOUL, KOREA

Tele: 82-2-2270-9643 Fax: 82-2-2272-7234 Represented by Mr J AHN- Export Director

Buyer: Name of company: AnPhaNam International CO., LTD Address: NO.20, BO DE STREET, LONG BIEN DISTRICT, HANOL, Vietnam Tel: 84-4-872-6918

Represented by Mr Dinh Xuan Son- Director Article 1: Commodity-Quality-Quantity-Price Commodity: Stainless steel wire for welding

Kg 3 M-430 1.0mmx12.5kg Spool | 1,000.00 $4.72/Kg | USD 4,720.00

Kg Total 5,762.50 USD 31,862.00

Kg

Delivery method: CIF Incoterm 2020 Port of receipt: Busan, Korea Port of loading: Busan, Korea Port of discharge: Hai Phong, Vietnam Port of delivery: Hai Phong, Vietnam Shipment time: Within 4 weeks after receipt of seller’s order confirmation Article 4; Payment

20% through T/T in advance After giving a copy of B/L by faxing/ sending email, the buyer will pay 80% T/T

Name of bank: HANA Bank (Chungmuro- Yeok Branch) Swift code: HNBNKRSE

Account no: 199-910001-02531 Article 5; Inspection The goods will be finally inspected in Kiswel LTD mill’s

Article 8: Arbitration

During the contract execution, any unresolved disputes that cannot be settled amicably shall be resolved through the Vietnam International Arbitration Center The expenses related to arbitration and other associated charges will be the responsibility of the party deemed to be at fault or unsuccessful in the arbitration process

THE BUYER THE SELLER

Article 1: Commodity-Quality-Quantity-Price -The commodity term is used to specify the type of goods or products being traded The duty involves accurately describing and delivering the agreed-upon commodity In this case, the subject of the contract signed by both parties is stainless steel wire for welding -The quality term is used to define the quality standards the goods must meet The seller is generally obligated to provide goods of the specified quality to ensure buyer about quality of goods

-The quantity term is used to specify the quantity of goods to be delivered Detailed specifications in this article help prevent disputes over the acceptable quality of the commodities and set clear expectations for both parties In this case, the unit of measurement is kilogramme(kg) and the total quantity 1s 5,762.50 kg This 1s net-weight of steel, it indicates that steel without packing 1s 5,762.50 kg

-The price term is used to specify the agreed-upon price for the goods The total value is $31,862.00, and clearly stated in both numbers and words

Article 2: Packing and marking This article is used to outline how the goods should be packed and marked for shipment This includes specifying the types of packaging materials, methods of packing, and any unique requirements necessary for safeguarding the items during transportation Clarity in these specifications is vital to prevent damage to the goods and to ensure that they arrive at their destination in the intended condition

Maker: The specified producer of the goods outlined in the contract is KISWEL LTD.This indicates the origin of the product and outlines the manufacturer's duties throughout the production and delivery stages

Origin: The goods originate from "Korea," signifying that they are produced in Korea This information is critical for adherence to origin regulations, facilitating compliance, and determining potential customs duty benefits or specific requirements related to the origin of the goods

Packing: The standard seaworthy packing method involves a meticulous approach to packaging goods to withstand the rigors of sea transport This method aims to ensure that items are adequately protected from the challenges of maritime conditions, including saltwater exposure, humidity, and physical impacts during loading and unloading Typically, it includes using durable materials, and employing secure fastening techniques to prevent shifting or damage Adhering to a standard seaworthy packing method is crucial for safeguarding the integrity of the goods, minimizing the risk of deterioration, and meeting the stringent requirements of international shipping standards

Article 3; Shipment This article is used to specify the mode of transportation, delivery terms, and responsibilities of each party In this case, the seller is responsible for the costs of the goods, freight charges, and insurance until the goods are delivered to the agreed-upon port of destination (Busan, Korea) The risk is transferred from the seller to the buyer when the goods pass the ship's rail at the port of shipment

Article 4; Payment -This article is used to outline the progress of transactions and conditions for payments In this case, the payment is made by 20% T/T in advance and the rest of 80% T/T will be made when the seller giving a copy of B/L

-While relying on the trust and reputation of the involved companies, conducting payment via Telegraphic Transfer (TT) presents various advantages for the seller:

+TT facilitates swift and convenient money transfers, directly moving funds from the source account to the destination account without involving additional intermediaries This expedites the transaction process and minimizes paperwork +The use of TT eliminates the need for carrying cash or resorting to intermediary payment methods This, im turn, reduces the procedural complexities and associated costs linked to alternative payment mechanisms

Article 5; Inspection This article is used to ensure the quality and compliance of the goods or services being exchanged This article outlines the procedures and criteria for inspecting the delivered items, serving as a mechanism to verify that they meet the agreed-upon standards and specifications It typically designates the party responsible for conducting inspections The inspection article contributes to the overall transparency and fairness of the contractual relationship, providing a structured process for assessing the conformity of the delivered goods or services This helps in preventing disputes, fostering accountability, and ultimately upholding the quality standards expected by both parties involved in the contract

Article 6: Insurance

This article in a contract outlines the obligations and details regarding insurance coverage for the goods or services involved In this case, the seller must provide insurance with a minimum coverage level, typically covering the buyer's nsk of loss or damage during the main carriage Additionally, the buyer may choose to purchase additional insurance beyond the minimum coverage provided by the seller

Article 7: Claim

This article plays a pivotal role in establishing the procedures, rights, and responsibilities associated with the resolution of disputes or claims that may arise during the execution of the agreement This article delineates the specific conditions under which either party can assert a claim, the documentation required to substantiate a claim, and the processes for notifying and addressing disputes It often outlines the mechanisms for dispute resolution, which may include negotiation, mediation, or arbitration

The Claim Article provides a structured framework to manage disagreements, promoting fair and efficient resolution while minimizing the potential for protracted legal disputes By clearly defining the steps and parameters for making claims, this article contributes to the overall effectiveness and enforceability of the contract, fostering a more collaborative and accountable relationship between the contracting parties

Article 8; Arbitration This article establishes the framework for resolving disputes through arbitration, an alternative to traditional litigation This section outlines the specific procedures, rules, and conditions under which arbitration will take place, including the selection of arbitrators and the locale of the arbitration proceedings

C, CHECK ALL THE DOCUMENTS TO SPOT ANY DISCREPANCIES OR ERRORS, AND ANALYZE EACH DOCUMENT

I Shipping advice

KISWELLTO Heungko+k B/D, 43-1, Juja-dong, Chung-gt Seoul, Korea C.P.O Box 8641, Seoul, Korea

KISWEL TEL:82-2-2270-9400 FAX:82-2-2272-7234 E-MAL : export@kiswel.com

SHIPPING ADVICE

Dear Valued Customer,

has departed on Jur/ 30, 2016 from Busan, Korea with the relative shipping documents enclosed Thank you for your cooperation in advance and we assure you of our highest qualily service

Gaclosures

co 1 original and 3 copies

P/I No KISVK-016/10 t2; bo —231¢ —bbt

Function

Function of this document is to inform INTERNATIONAL CO., LTD (buyer) about the

shipment of goods, provide detailed information regarding the shipment's contents, and allow the buyer to track the shipment

Analysis

- Invoice no: 20100601500 - Consigner: Kiswel LTD - Consignee: ANPHANAM international CO., LTD

- Enclosures: Invoice, packing list, bill of lading, C/O , Insurance policy, test certificate, L/C No, P/I no, name of vessel, date on board

- Invoice: 1 original and 3 copies Function: The invoice in shipping advice serves to document and describe the shipped goods, aiding in customs clearance, payment processing, record-keeping, and dispute resolution,

- Packing list: 1 original and 3 copies Function: The packing list in shipping advice provides a concise inventory of the contents of a shipment, aiding in customs clearance, facilitating efficient handling by carriers, and assisting in the verification of received goods It serves as a detailed reference for the physical items being transported, complementing the invoice and streamlining logistics processes

- Billing of lading: 3 original and 3 copies Function: The Bill of Lading in shipping advice serves as a vital document that functions as areceipt for shipped goods, a contract of carriage between the shipper and the carrier, and a title document that enables the transfer of ownership It plays a crucial role in facilitating the movement of goods, providing proof of shipment, and serving as a key negotiable mstrument in international trade transactions

- C/O: 1 original and 3 copies Function: The Certificate of Origin (C/O) in shipping advice is a document that verifies the origin of the goods being shipped It is used for customs clearance and trade

agreements, providing information about the source of the products and ensuring compliance with regulations

- Insurance policy: 2 original and 2 copies Function: The insurance policy in shipping advice serves to protect against potential loss or damage to goods during transit It provides financial coverage for the insured parties, ensuring compensation in the event of unforeseen circumstances such as accidents, theft, or other risks during the shipping process

- Test certificate: 2 copies Function: A Test Certificate in shipping advice serves to verify the quality, specifications, and compliance of goods with certain standards or regulations It provides assurance to the buyer and relevant authorities regarding the quality and characteristics of the shipped products

- L/Cno: NIL Function: The Letter of Credit (L/C) number in shipping advice serves as a reference to the specific financial arrangement between the buyer and the seller

- P/Ino: KISVK-016/10

Function: The Proforma Invoice (P/I) number in shipping advice serves as a reference to the preliminary invoice issued by the seller It outlines the terms of sale and provides essential details about the transaction, facilitating tracking and documentation throughout the shipping and payment process

- Name of vessel: EMILIA SCHULTE 0368S Function: The name of the vessel in shipping advice serves as a crucial identifier for the specific ship carrying the goods It enables accurate tracking and coordination in the logistics chain, facilitating efficient handling, documentation, and delivery of the shipped items

- Date on board: 30, Jun 2016

Function: It serves as a crucial reference for tracking and managing the shipment's progress, aiding in logistics coordination and providing a timeline for various shipping processes

Discrepancies and revise Adding the number L/C

IL Commercial invoice

unlimited iAP

COMMERCIAL INVOICE

ISWEL LTD

- First, it is used for payment basis between seller and buyer, exporter and importer, and also the basis for the seller to request the buyer to pay money - Secondly, commercial invoice is the basis for calculating import and export

taxes

A commercial invoice includes the necessary extra details for crossing the border, such as country of origin, harmonized system (HS) code, freight terms, and so on The document is required by customs, the authority responsible for

controlling imports They need the commercial invoice to quickly decide what taxes, tariffs, or duties apply to the package and prevent any hold-ups - Thirdly, Commercial Invoice is the basis for comparing information with other

types of documents during the process of the parties implementing the contract as well as carrying out related import and export procedures If there are any discrepancies, the document maker or customs declarant must immediately check and immediately supplement and correct the data, if necessary Commercial invoice analysis

1 Shipper/ Exporter Indicate the name of the exporter Name of the importer is KISWEL LTD In Seoul Busan 2 For account & risk of Messrs

Enter the complete name and address of the importer (the consignee) in the field (For account and risk of Messrs.) The title Messrs stands for Messieurs in French meaning gentlemen It is used to address a business firm in a formal manner, the same way the title Mr., Mrs or Miss is used to address a person In this document, “For account & risk of Messrs” include the name of the

importer is‘ ANPHANAM INTERNATIONAL CO , LTD; address is “ NO 20, BO DE STREET, LONG BIEN DISTRICT, HA NOL, VIET NAM”

3 Notify party The notify party is someone who is informed by the carrier or freight forwarder about the shipment's arrival or any changes in its status

The notify party is usually an intermediary or a designated by either the shipper or the consignee They may not have any financial or legal interest in the cargo but are involved to expedite the flow of information For instance, a notify party can be a customs broker, a freight forwarder, or even the buyer's agent

Their primary responsibility is to keep all relevant parties informed about the progress and location of the shipment [2]

In this document, notify party is same as above means that same as the shipping advice

4 Port of loading The "port of loading” refers to the specific location where goods are loaded onto a vessel for transportation It is a crucial term in international trade and shipping When arranging the shipment of goods, the shipper and consignee need to specify the port of loading to ensure that the cargo is picked up from the correct location

Port of loading in this document 1s “Busan, Korea.” 5 Final destination

The "final destination” refers to the ultimate location where the goods are intended to arrive or be delivered

Final destination in this document is “Hai Phong, Vietnam.” 6 Carrier

Carrier is a company or a firm that is legally entitled to transport goods by air, water, and land The carrier can work with buyer or seller based on the agreement of both parties

In this document, carrier is hired by buyer, whose name is EMILA SCHULTE 0365

7 Sailing on or about "Selling on or about" is a term often used in contracts, including sales agreements and purchase orders It is a way of mdicating a flexible or approximate date for a transaction or event When this phrase is used, it means that the specified action (such as selling or delivering goods) is expected to occur approximately on the mentioned date or within a short period around that date

In this document, saling on or about date is June 30", 2016, which means that the delivery is expected to take place around June 30" 2016, but there is some flexibility in the exact timing

8 No and date of invoice The "No and date of invoice” refers to the mvoice number and the date of issuance on a commercial invoice This information is crucial for both the seller (issuer of the invoice) and the buyer in a commercial transaction Numer of invoice is a unique identifier assigned to each commercial invoice The mvoice number helps both the seller and the buyer track and reference the specific transaction It is essential for record-keeping, accounting, and any future communication or documentation related to the transaction The invoice number is usually a combination of letters and numbers and is sequentially assigned to each invoice And in this document, number of invoice is 20100601500

Date of invoice: This is the date when the commercial mvoice is issued by the seller, which is June 23" 2016

9 No and date of L/C Number of L/C is the unique identification number assigned to the Letter of Credit It serves as a reference for all parties involved in the transaction, including the buyer, seller, and banks The number is used to track and identify the specific L/C related to the transaction And the date is when the L/C is issued The date of the L/C is crucial as it establishes the timeframe within which the seller must fulfill the conditions outlined in the L/C to receive

payment

In this document, there is no L/C opening because the seller open T/T 20% in advance

10 L/C issuing bank

1 —

The L/C issuing bank is the financial institution that opens or issues the Letter of Credit (L/C) on behalf of the buyer Gmporter) in a trade transaction The issuing bank undertakes the responsibility of guaranteeing payment to the seller (exporter) if the seller fulfills the conditions specified in the Letter of Credit The L/C issuing bank plays a crucial role in facilitating secure and reliable international trade transactions

Because the seller does not open L/C, issuing bank do not contain in this term Remarks

Remarks refer to additional comments, notes, or information that are included for clarification, special instructions, or any other relevant details These remarks serve to provide additional context to the main content of the document and ensure that all parties involved have a clear understanding of specific points

There are no remarks in this term 12 Marks and number of PKGS

Marks: often includes symbols, numbers, letters, or labels on packages that help identify and distinguish one package from another Marks may include information such as destination details, handling instructions, shipping symbols, or any other relevant data Marks are essential for proper handling, sorting, and delivery of packages In this document, marks include

ANPHANAM CO., LTD HAIPHONG, VIETNAM and M-308, M-403 to

distinguish the type of goods Number of PKGS: This indicates the total number of individual packages or units included in the shipment It provides a count of how many separate items or containers are being transported Number of PKGS in this document is 9

(No 1-9)

13 Description of goods

It refers to a detailed explanation or specification of the products or items being bought or sold in a commercial transaction The description of goods provides clarity about the nature, quantity, quality, and other essential characteristics of the items involved in the transaction

This commercial invoice includes: 1 OMMX12.5KG SPOOL for M-308, 1.00MMX200KG P/ PACK for M-308 and 1 OMMX12.5KG SPOOL for M-403 The description of goods provides the size of the good and characteristic of steel 14 Quantity-Unit

"Quantity - Unit” refers to the measurement of the amount or volume of goods being bought or sold, along with the specific unit of measurement used

Measurement agreed in this document is Kilogram (Kg) and 2500Kg for 1 OMMX12.5KG SPOOL M-308 , 1600Kg for 1.00MMX200KG P/ PACK M-308, and 1000Kg for 1 OMMX12.5KG SPOOL M-403

15 Unit- price "Unit price” refers to the cost of a single unit of a product or service It is the price assigned to each individual item when goods are sold in multiple units

Price unit: United States Dollar (USD) Price per unit:

6.62USD for 1 kg of M-308 1.00MMX12.5 SPOOL 1.6USD for 1 kg of M-308 1.0MMX200Kg P/PACK 7.200 USD for lkg of M-430 1.00MMX12.5Kg SPOOL 16 Amount

It generally refers to the total monetary value associated with a particular item, set of items, or an entire transaction

TOTAL AMOUNT = UNIT PRCE X QUANTITY 6.62 USD X 12500kg = 16500USD

6.62 USD X 16000kg = 10592 USD 4.72 USD X 1000kg = 4720 USD Total amount = 31862 USD 17 Contact information TELE: 82-2-2270-9643 FAX: 82-2-2272-7234 E-MAIL: EXPORT@KISWEL.COM ADDRESS: 43-1, 7% FLOOR, HEUNGKOOK BUILDING, JUJA-DONG, CHUNG-GU, SEOUL, KOREA

P.O.BOX: C.P.O BOX 8641, SEOUL, KOREA 18 Signed by KISWEL Director

Assessment: Every information of the commercial that 1s fixed to the contract, but in my opinion, I suggest that the Commercial Invoice should have HS Code for the goods because internationally standardized system of names and numbers used to classify traded products It provides a common language for customs authorities, traders, and statisticians worldwide, facilitating the uniform classification of goods 1m international trade and it helps determine customs duties, import and export restrictions, and statistical reporting

TIL Packing list

1) Shipper Exporter ‘© Port ef ieating 5S) Final destination

BLSAN, KOREA PAIPIONG, VIEINAM

KISWEL LTD 8 Comer 7) Sul om or aboet

EWILIA SOMLTE 0965 IN 30 2016 Di For occeost & resh of Messer Wok eats ot voice

NTERAAT ION CO.,LTD 7010060 1500 AN 23.206

M.20, 80 DE STREET LONG BIEN DISTRICT nu oS

HAND! VIETNAM TEL 94-4-6/2-9919 ™

MÓC IN XOA

LOI CÔNG XAO C5 10011 TOTALS TOTA TYPE Siz ATM ay AT NTE IGT @uss- #167 td 1 GK 12 SKS SPOOL 3 3 PLS 2,250 CONG 2.430.006 3 (X12 SX2 SPQOL 4 ar 750 CONG 810.006

OWNX12 SKS SPOOL A 500 OONG %40 00G

a 1 @MWWX12 SKS SPOOL "x9 (MWWX22OKG P/PACK 69 41% 1,600 COMG 1.728 OOKG

KISWEL LTD 0wax0Ch BuL0IAS 5 -

ae ssy«ốny EXPORT DIRECTOR 7 ARN

Function of packing list A packing list itemizes the contents of each package (box, pallets, etc) It includes weights, measurements and detailed lists of the goods in each package The packing list should be included in carton or package and can be attached to the outside of a package with a copy inside

A packing list is a document that accompanies a shipment of goods and provides detailed information about the contents of the package or container The primary function of a packing list is to facilitate the smooth and accurate handling of the shipment by providing comprehensive information to various parties involved in the supply chain [3]

1 Shipper/ Exporter Indicate the name of the exporter Name of the importer is KISWEL LTD In Seoul Busan 2 For account & risk of Messrs

Enter the complete name and address of the importer (the consignee) in the field (For account and risk of Messrs.) The title Messrs stands for Messieurs in French meaning gentlemen It is used to address a business firm in a formal manner, the same way the title Mr., Mrs or Miss is used to address a person In this document, “For account & risk of Messrs” include the name of the

importer is‘ ANPHANAM INTERNATIONAL CO , LTD; address is “ NO 20, BO DE STREET, LONG BIEN DISTRICT, HA NOL, VIET NAM”

3 Notify party The notify party is someone who is informed by the carrier or freight forwarder about the shipment's arrival or any changes in its status

The notify party is usually an intermediary or a designated by either the shipper or the consignee They may not have any financial or legal interest in the cargo but are involved to expedite the flow of information For instance, a notify party can be a customs broker, a freight forwarder, or even the buyer's agent Their primary responsibility is to keep all relevant parties informed about the progress and location of the shipment [2]

In this document, notify party is same as above means that same as the shipping advice

4 Port of loading The "port of loading” refers to the specific location where goods are loaded onto a vessel for transportation It is a crucial term in international trade and shipping When arranging the shipment of goods, the shipper and consignee need to specify the port of loading to ensure that the cargo is picked up from the correct location

Port of loading in this document is “Busan, Korea”

5 Final destination The "final destination” refers to the ultimate location where the goods are intended to arrive or be delivered

Final destination in this document is “Hai Phong, Vietnam” 6 Carrier

Carrier is a company or a firm that is legally entitled to transport goods by air, water, and land The carrier can work with buyer or seller based on the agreement of both parties

In this document, carrier is hired by buyer, whose name is EMILA SCHULTE 036S

7 Sailing on or about "Selling on or about" is a term often used in contracts, including sales agreements and purchase orders It is a way of mdicating a flexible or approximate date for a transaction or event When this phrase is used, it means that the specified action (such as selling or delivering goods) is expected to occur approximately on the mentioned date or within a short period around that date

In this document, saling on or about date is June 30", 2016, which means that the delivery is expected to take place around June 30" 2016, but there is some flexibility in the exact timing

8 No and date of invoice The "No and date of invoice” refers to the mvoice number and the date of issuance on a commercial invoice This information is crucial for both the seller (issuer of the invoice) and the buyer in a commercial transaction Numer of invoice is a unique identifier assigned to each commercial invoice The mvoice number helps both the seller and the buyer track and reference the specific transaction It is essential for record-keeping, accounting, and any future communication or documentation related to the transaction The invoice

number is usually a combination of letters and numbers and is sequentially assigned to each invoice And in this document, number of invoice is 20100601500

Date of invoice: This is the date when the commercial mvoice is issued by the seller, which is June 23", 2016

9 No and date of L/C Number of L/C is the unique identification number assigned to the Letter of Credit It serves as a reference for all parties involved in the transaction, including the buyer, seller, and banks The number is used to track and identify the specific L/C related to the transaction And the date is when the L/C is issued The date of the L/C is crucial as it establishes the timeframe within which the seller must fulfill the conditions outlined in the L/C to receive

payment

In this document, there is no L/C opening because the seller open T/T 20% in advance

10 L/C issuing bank The L/C issuing bank is the financial institution that opens or issues the Letter of Credit (L/C) on behalf of the buyer Gmporter) in a trade transaction The issuing bank undertakes the responsibility of guaranteeing payment to the seller (exporter) if the seller fulfills the conditions specified in the Letter of Credit The L/C issuing bank plays a crucial role in facilitating secure and reliable international trade transactions

Because the seller does not open L/C, issuing bank do not contain in this term 11 Remarks

Remarks refer to additional comments, notes, or information that are included for clarification, special instructions, or any other relevant details These remarks serve to provide additional context to the main content of the

document and ensure that all parties involved have a clear understanding of specific points

There are no remarks in this term 12 Marks and number of PKGS

Marks: often includes symbols, numbers, letters, or labels on packages that help identify and distinguish one package from another Marks may include information such as destination details, handling instructions, shipping symbols, or any other relevant data Marks are essential for proper handling, sorting, and delivery of packages In this document, marks include

ANPHANAM CO., LTD HAIPHONG, VIETNAM and M-308, M-403 to

distinguish the type of goods Number of PKGS: This indicates the total number of individual packages or units included in the shipment It provides a count of how many separate items or containers are being transported Number of PKGS in this document is 9

(No 1-9)

13 Description of goods It refers to a detailed explanation or specification of the products or items being bought or sold in a commercial transaction The description of goods provides clarity about the nature, quantity, quality, and other essential characteristics of the items involved in the transaction

The description of goods in packing list 1s more detailed than in Commercial Invoice when providing PLT Size Quantity Total net weight and Total gross