NEGOTIATION AND IMPLEMENTATION OF THE INTERNATIONAL SALE CONTRACTS’ TERMS OF BURWITZ REFRACTORY COMPANY

MINISTRY OF TRANSPORTATION MINISTRY OF EDUCATION & TRAINING VIETNAM MARITIME UNIVERSITY STUDENT NAME: TRINH THI LAN ANH DISSERTATION GLOBAL STUDIES AND MARITIME AFFAIRS NEGOTIATION AND IMPLEMENTATION OF THE INTERNATIONAL SALE CONTRACTS’ TERMS OF BURWITZ REFRACTORY COMPANY: PROBLEMS AND SUGGESTIONS HAI PHONG – 2015 MINISTRY OF TRANSPORTATION MINISTRY OF EDUCATION & TRAINING VIETNAM MARITIME UNIVERSITY STUDENT NAME: TRINH THI LAN ANH CLASS: GMA 02 DISSERTATION GLOBAL STUDIES AND MARITIME AFFAIRS NEGOTIATION AND IMPLEMENTATION OF THE INTERNATIONAL SALE CONTRACTS’ TERMS OF BURWITZ REFRACTORY COMPANY: PROBLEMS AND SUGGESTIONS Supervisor: Nguyen Viet Hoang Son Division: Basic Economics Faculty: Economics HAI PHONG – 2015 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions PREFACE I certify that all the materials in this dissertation that is not my own work has been identified, and that no materials is included for which a degree has previously been conferred on me The contents of this dissertation reflect my own personal views, and are not necessarily endorsed by the University Signature TRINH LAN ANH Date of completion: 10th November 2015 TRINH THI LAN ANH – GMA 02 Page Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions TABLE OF CONTENT Preface i Table of contents ii List of figures iv List of tables .v Introduction 1 Necessity Research Object Research Scope Research Findings Chapter 1: Literature Review Theoretical Background .9 Drafting contracts process 10 The international sale contracts’ terms of Burwitz Refractory Compnany 13 Chapter 2: Brief introduction of the company 19 Functions and Structure 19 The products and partners of Burwitz Refractory Comapany 23 Business results 29 Potential problems in the international sale contracts’ terms of Burwitz Refractory Compnay 32 Chapter 3: Recommendation for improvement 36 Conclusion 39 TRINH THI LAN ANH – GMA 02 Page Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions Annex .41 References 63 ABBREVIATION LIST [1] B/L: Bill of Lading [2] B.O.M: Broad of Management [3] BRC: Burwitz Refractory Company [4] C.E.O: Chief Executive Officer [5] CIF: Cost-Insurance-Freight (Incoterm) [6] D/P: Document against payment (payment term) [7] ICC: International Chamber of Commerce [8] ISO: International Standard Organization [9] FOB: Free-on-board (Incoterm) [10] TT: Telegraphic transfer/ Telex Transfer (payment term) [11] VND: Vietnam Dong TRINH THI LAN ANH – GMA 02 Page Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions LIST OF FIGURES Figure 1: BEROA Deutschland, Gmbh 's International Projects .4 Figure 2: Contracts drafting process .7 Figure 3: The article of commodity details in Burwitz’s sales contracts 15 Figure 4:The value of International sales contracts from January to September 2014 and 2015 28 Figure 5:The Burwitz Vietnam's total revenue from 2012 to 2015 (billion VND) 29 Figure 6:The Burwitz Vietnam's Profit after tax (PAT) from 2012 to 2015 30 TRINH THI LAN ANH – GMA 02 Page Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions LIST OF TABLES Table 1: Major products of Burwitz Refractory Company .23 Table 2: Linings industry customers’ list .25 Table 3: Other customers .26 Table 4: Business results of Burwitz Refractory Company from 2012 to 2015 .31 Table 5: Comparison in terms of workers and salary monthly before and after adding new terms of packing conditions…………………………………….…….37 TRINH THI LAN ANH – GMA 02 Page Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions TRINH THI LAN ANH – GMA 02 Page Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions INTRODUCTION Necessity It is no exaggeration to say that practice always plays an indispensable pattern to plenty of aspects, especially study Without applying theories into reality, the learners cannot mature and get valuable experiences for their field There are three major justifications for giving students’ practice opportunities by corporations and companies To start with, the essential roles of internship are undeniable Firstly, it is no little doubt that it is a strong support to develop students’ background knowledge In our contemporary life, learners have to deal with plenty of information flows without applying in practicing As a result, their recognitions are vulnerable and unstable, being easily to forget or misunderstanding Thus, thanks to a number of valuable internship, students have a fabulous opportunity to apply their own knowledge to practice, contributing to the higher - level working skills among learners in the near future It is obvious that students in general and teachers in particular can take advantages of those internships In the second analysis, because of working in the practical environment, students can build up their own experience It is common knowledge that corporations and companies require candidates having two - year experience or more, guaranteeing that potential worker can work right after recruitment process Thus, should companies give opportunities to senior students, they will shortage the recruitment and keep the potential professional candidates From students’ perspective, it is also a valuable chance to show up their abilities, impressing the future recruiters From students and corporations points of view, this is a win-win situation Regarding to the justifications for choosing Burwitz Refractory Company (BRC), it is undeniable that the international company like BRC has strong and thorough experience in international business The company involves in plenty of multinational businesses in the field of refractory linings’ raw materials In contemporary period, BRC has variety of prolong and truthful relationships with TRINH THI LAN ANH – GMA 02 Page Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions Group and mother company – BURWITZ Group witness negative finance researches in recently, Burwitz Vietnam still remains and improves its productivity and income Analyzing the parameter of company revenue in the last four years, we have the graph below 200 175 180 160 140 120 120 100 8075 60 2012 80 2013 2014 2015 Figure 2.23: The Burwitz Vietnam's total revenue from 2012 to 2015 (billion VND) Copyright 2015 by BRC Vietnam Reprinted with permission The graph describes the information about the Burwitz Vietnam’s total income between September 2012 and September 2015 Because while working normally in the first third quarters, company spend the whole last quarter to collect money from partners Thus, at the end of September, its financial department can have the actual parameter for the company revenue for a whole year Overall, the line follows an upward trend To start with, it is no little doubt that the Burwitz Vietnam’s revenue increases year by year However, it follows a different speed Starting with 75 billion VND in 2012, the company revenue witnessed a slight climb in a year after, increasing by billion In the next 12 months, there was a dramatic rise in the TRINH THI LAN ANH – GMA 02 Page 30 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions company income, marking at 120 billion at the end of 2014 The line continue increase dramatically in 2015, peaking at 175 billion at the end of fourth quarter (according to the prediction of financial research of Sale Department) It may indeed be true to say that this circumstance is a result of an incredible jump of company’s net income This parameter can be revealed in the graph below 140 131.25 120 100 90 80 60 56.25 60 2012 2013 40 20 2014 2015 Figure 2.34: The Burwitz Vietnam's Profit after tax (PAT) from 2012 to 2015 Copyright 2015 by BRC Vietnam Reprinted with permission Should the company’s net income experience a significant increase of 56.25 billion between 2012 and 2013, it climbed even more wildly in a year after Reaching 60 billion in the end of 2013, 12 months later, net income overcomes the net income of previous year, catching 90 billion Company’s Sales Department has predicted that the net income in 2015 may be approximately 131.25 billion VND This increase is the result of broadening operational production of Burwitz Vietnam and expanding the company at internal and external market Should in 2005, the company productivity was 40 tons per day; it has reached at 100 tons per day In addition, the company has successful completed the government plan to 2015, reaching a production rate at 200 tons per day, and satisfying domestic TRINH THI LAN ANH – GMA 02 Page 31 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions demand in terms of refractory linings Moreover, compared with 2014, the spending for the total cost has been cut down by one third It is due to the company investment in 2014 in conveyor belt system, making the cost of 2014 peaking at billion After that, the cost turns back to usual line, most spending on raw materials On the other hand, with the high quality products and thoughtful customer service, Burwitz Vietnam has systematically captured the belief from customers As a result, the revenue of company increases significantly in recent years In the next five years, Burwitz Vietnam is planning to enters African and Middle Eastern markets Thus, company revenue and especially net income may witness another dramatic increase Table 4: Business results of Burwitz Refractory Company from 2012 to 2015 (Unit: Billion VND) No Financial researches Revenue Cost 2012 2013 2015 (Estimated) 2014 78.53 83.75 126.00 179.00 3.53 3.75 6.00 4.00 Profits 75.00 80.00 120.00 175.00 Profit after tax 56.25 60 90 131.25 Adapted from BRC Vietnam Reprinted with permission The table above visualized the productivity of company Should in 2012 – 2013, the expenditure ranged from 3.53 to 3.75 billion VND, it soars at billion VND The major pattern of 2014 expenditure was to invest in produced conveyor belt, boosting both the company productivity and the revenue to the higher level Therefore, it is obvious to understand the dramatic increase in company profit in 2015, being at 175 billion In a word, for those aforementioned viewpoints, it is obvious that the company financial circumstance is developing in an advantageous orientation TRINH THI LAN ANH – GMA 02 Page 32 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions Potential problems in the international sale contracts’ terms of Burwitz Refractory Company To begin with, any international sales contracts have their own cons Thus, there are plenty of disadvantages of international sales contracts between Burwitz Vietnam and Chinese partners which can influence negatively on the company’s benefits This research is going to study the drawbacks existed in Burwitz Vietnam’s international sales contracts, especially with Chinese providers  Using CIF term as a buyer To start with, in international trade sector, “buying FOB, selling CIF” is the most beneficial way[ CITATION Vin14 \l 1033 ] By stark contrast, in Vietnam especially in case of Burwitz Vietnam, the company in an opposite way, which is buying under CIF term There are numerous justifications led to this decision of Burwitz Vietnam First and foremost, the company is afraid of facing with “force majeure” while transporting goods by ship In the case of using CIF, the seller will bear those risks Thus, should any factors effect negatively on the voyage, the lost will be counted for the seller It can be witnessed clearly and thoroughly as an excellent example via variety of international sales contracts of Burwitz Vietnam and their providers Burwitz Vietnam always uses C-term in their international sales contracts with CIF term in every sales contract with Chinese providers This action is a result of risk avoidance culture of Eastern nations including Vietnam Therefore, not only does the Burwitz Vietnam but also other Vietnamese companies have decided to buy under CIF term when doing international business Moreover, as a result of lacking proficient maritime knowledge, the top management level of Burwitz Vietnam tries to avoid buying under FOB term Should buying under FOB term, the Burwitz Vietnam has to solve every originated issue related to shipping Therefore, the inadequate professional knowledge in maritime sector becomes a barrier to Burwitz Vietnam, preventing the company to access more efficient measures As a result, with CIF term, the company no longer has to deal with the complex shipping process including insurance or freight, avoiding mistakes if buying under FOB term Briefly, the company just has to pay a TRINH THI LAN ANH – GMA 02 Page 33 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions little bit higher freight when buying under CIF term compared to buying under FOB term Other internal reasons for buying under CIF term is the size of Vietnamese merchant fleet It is no little doubt that when doing international business under FOB term, the importer can take advantages of domestic merchant fleet, thus saving the cost and avoiding the exchange rate risk when the payment is made by foreign currency likes US dollar In contrary, Vietnamese companies in general and Burwitz Vietnam in particular are doing in a vice versa way This is because of the circumstance of Vietnamese merchant fleet at contemporary period In fact, Vietnamese merchant fleet’s capability cannot adapt to the demand of domestic market The true circumstance is that the Vietnamese fleet is not only limited in terms of quantity of vessel but also limited regarding to quality of ships Thus, it is hard for Vietnamese businesspersons to hire a Vietnamese shipping agent when buying under FOB term  Packing terms Packing is other factor, which may influence negatively the working process of company It is no exaggeration to say that the company can improve their productivity if the packing condition in international sales contracts can be changed According to the aforementioned points of view, the packing condition is not mentioned clearly and thoroughly in the international sales contracts between Burwitz Vietnam and Chinese partners In fact, this condition is based primarily on the characteristics of raw materials Thus, unless raw materials need more protection, the goods can be transported under any means of package This condition may help to save the package fee for the exporter, which is Chinese partner By contrast, from Burwitz Vietnam’s prospective; the company does not only have any benefits yet, but also can slow down the working process of Burwitz Vietnam In fact, this condition effects strongly the loading and unloading time With different types of packing, the company needs more time to load and discharge goods not only in the destination port but also in the company’s warehouse In the contemporary period, the warehouse of Burwitz Vietnam has TRINH THI LAN ANH – GMA 02 Page 34 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions been designed to loading and unloading goods from containers, having plenty of forklifts to serve this purpose In stark contrast, should the goods are not packed to fit to container; company cannot take advantages of this improvement Moreover, the company, therefore, needs to hire more blue-collar workers for the cargo loading and unloading between the trucks and the company’s warehouse In a word, the unstandardized the packing method of raw materials of the company increases not only the loading and unloading time at port and company’s warehouse but also the fee to pay for general workers In a word, this factor effects the productivity of company  Cultural influence Belonged to the Asia region, both Vietnamese and Chinese businessperson shows a number of similar cultural characteristics in their way of doing business One of them is that the trading is based on the trust among the parties, and disagreements and disputes will be solved through negotiation This characteristic can be witnessed clearly in the international sales contracts between Burwitz Vietnam and Chinese partners Revealing the arbitration clause of Burwitz Vietnam’s international sales contracts with the Chinese providers, the use of negotiation and consultation are recommended to deal with the conflicts between parties Until the dispute cannot be settled by negotiation, they may go into court “The Parties shall try to settle the disputes and disagreements which may arise out of or in connection with the present Contract by means of negotiations and consultations”[ CITATION Bur141 \l 1033 ] Thus, should the tiny disagreements or disputes may occur, Vietnamese businessperson which is Burwitz Vietnam usually tries to accept or does not put any forces into Chinese partners Because in most case, the problem happens in the release cargoes stage Thus, company will waits for couple more few days rather than using other negotiation methods This leads to the fact that in some circumstance, especially with new partner, even if the company has done the payment, they cannot get the goods Therefore, the waiting time increases with the company having to pay the warehousing fee at port TRINH THI LAN ANH – GMA 02 Page 35 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions  The dominance of Chinese international sale contracts in terms of quantity and value As I have mentioned above, it is no exaggeration to say that the Chinese providers have control the raw materials source of Burwitz Vietnam It accounts for exceeding 50 percent in terms of contract value and more than a half regarding to number This can influence negatively to the activities of company if Chinese partners stop or eliminate a sum of trading raw materials An extremely famous example for this is the case of Nokia Corp of Finland and Telefon AB L.M Ericsson of Sweden They had the same semiconductor provider which is Albuquerque, N.M back to 2001, and this company played a primary part in the raw materials’ supply chain of both corporations However, after Albuquerque had been burned, the reaction of two company later has shifted the power balance between those two Nokia, which had found a new supplier, survived when Ericsson, which “moved far more slowly”, disappeared from the market [ CITATION Alm01 \l 1033 ] Ideally, companies shall try to keep their sources of supply not over 40 percent of each Therefore, they can be hurt if one source does not supply any more CHAPTER 3: RECOMMENDATIONS FOR IMPROVEMENT Regarding to those problems, I recommend plenty of suggestions as below  Using CIF term as a buyer By using FOB Chinese port in buyer’s position, Burwitz Refractory Company takes the responsibility for products, risk and freight from the port of loading This also means that the company has to deal with shipping, insurance and TRINH THI LAN ANH – GMA 02 Page 36 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions other maritime transportation’s activities However, comparing with CIF Haiphong, briefly, the total sum of money paid to receive the products is a bit lower Distinctively, buying under CIF term has numerous disadvantages The fact is that the gap between buying under CIF and FOB is insignificantly By contrast, in terms of quantity of raw material, the discrepancy can multiple, becoming a massive amount of capital In fact, in 2013, the Burwitz Vietnam had imported more than 2000 metric tons in a variety kinds of raw materials Thus, ideally, company should buy under the FOB term, saving a huge amount of money due to the change transportation term Analyzing the justification for applying CIF term, it is no exaggeration to say that the company has the capability to buy under FOB term Firstly, in terms of maritime risks in the voyage, thanks to the short distance between two nations, the risk is quite small In fact, according to maritime workers, the risk can be bearable Therefore, it is no exaggeration to say that risk is not the strongly reason to stop using FOB term when imports from China or India Moreover, thank to result of renew trend of company workforce, the quality of Burwitz Vietnam’s workers are improving as time goes by Thus, the company has ability to deal with the maritime sector, solving the complex issues such as insurance In terms of capability of the Vietnamese merchant fleet, in recent years, Vietnamese fleet has improved to adopt with long voyages For example, the Vinalines merchant fleet has done numerous voyage in Asia region Thus, the company still has their choice to hire Vietnamese merchant fleet In a word, for aforementioned viewpoints, at present, the company capability and Vietnamese circumstance are affordable for Burwitz Vietnam to buy raw material under FOB term  Packing terms In the negotiation process, the representative should convince the Chinese to add the packing condition in the international sales contracts In fact, the company TRINH THI LAN ANH – GMA 02 Page 37 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions should create their own standards for each type of raw materials since the Burwitz’s are various Thus, when Burwitz Vietnam orders a new shipment, they can apply their condition into the sales contracts with Chinese partners in the near future For example, in terms of raw material like CA50-G9, besides packing in a-25-kilogram bags, they should be loaded in containers, thus reducing both the loading and discharging time On the other hand, regarding to White Fused Alumina, although this kind of material does not require to transported under strict terms, it also should be packed in a 25 – kilogram bags as well As a result, the goods, now, can be transported by container, resulting in an increase in productivity Therefore, not only does the loading and unloading time, but also the salary for blue-collar workers can be cut down For more calculation: Table 5: Comparison in terms of workers and salary monthly before and after adding new terms of packing conditions The number of worker The normal worker The well-trained worker (predication) Salary/ month (VND) Total (VND) 10 5,000,000 50,000,000 20,000,000 40,000,000 Adapted from Sale Department of BRC Vietnam’s parameters Reprinted with permission  Business culture influence Because the culture influence is extremely hard to change, the most feasible and affordable measure is to add the condition under circumstance that one party violated the sales contracts They should mention to the penalty if parties try to delay or avoid their responsibility For example, the international sales contracts may mentions the penalty of paying for the delayed time or port activities when the seller still keeps the goods TRINH THI LAN ANH – GMA 02 Page 38 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions although Burwitz Vietnam has done payment Thus, it may indeed the delay of Chinese partners in future transactions In a word, the company should try to define terms clearly and thoroughly to avoid a situation that the seller takes advantages of the hole in international sales contracts  The dominance of Chinese international sale contracts in terms of quantity and value It is obvious that the Chinese partners can affect dramatically the activities of the company Thus, the most feasible and thorough solution is to find new raw materials suppliers As a result, the company can reduce the ratio of Chinese products in the company’s working process In fact, in contemporary period, Burwitz Vietnam has India as an alternative source of Chinese raw materials Sharing the same common in population and natural resources advantages, India is a potential choice for the company In fact, in recent Burwitz’s research, the quality of Indian sources totally match with the company requirements CONCLUSION In fact, when relating to international contracts and its terms, the references for the study are easy to access However, the main problem is that it is thus a recommendation or case study for a specific company Therefore, the researcher has to find and analyze case of BRC to figure out its similarities and differences compared with other case study Thus, by conducting this research, researcher expects that it may become an useful reference for later study On the other hand, TRINH THI LAN ANH – GMA 02 Page 39 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions concerning to researches about BRC, it is obvious that the number is still limited Therefore, the research itself may become a source of information for not only BRC itself but also provide the vision for other researchers and readers about BRC As mentioned in the previous, one of the most important reason to conduct this study is to figure out the existed problems in BRC’s international contract, then give the suggestions to solve or eliminate Thus, they are able to realize what factor needs to be concern What are existed problems What are justifications for that issues Therefore, BRC’s managers can adjust or have solutions to deal with those dilemmas As a result, it may help to improve BRC’s efficiency and effectiveness in particular and BRC’s success in general The major limitation of this survey is the elimination in terms of time and source of sample The research had been conducted the internship in weeks and, then doing the research in months Thus, it leaded to shorten time for literature review, collection of respond, analysis data, interview and other qualitative methods First of all, because of short period of time for interviewing activities, the themes for further survey of this research may missed Therefore, several issues may not be mentioned in this research The researcher can not access to different level of BRC’s staff, especially top-managers Another limitation is due to the bias of staffs’ respond Because the research had been conducted among BRC’s staff during researcher’s internship It leaded to the fact that BRC’s staffs may know in advance the questions of researcher, thus make their answer be similar In addition, the staffs’ responds may be effected by their worry that their true respond may worsen their images in the top-managers’ eyes Because of sampling strategies, researcher cannot access to large number of BRC’s staffs Thus, it may lead to the bias in research’s result because it based on the viewpoint of minor Although the bias had been eliminated via further study in the representative of BRC’s third party, it still needs to take into consideration In a word, with aforementioned viewpoint, it seems that there are numerous of justification for the existence of these limitations However, finding the feasible solutions and applying in reality may indeed improve the company’s successful in the future TRINH THI LAN ANH – GMA 02 Page 40 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions ANNEX International sales contract between Burwitz Refractory Company and Sinabuddy Mineral Company Limited (China) on 29 June 2014 Documentation of international trade between Burwitz Refractory Company and Success Top International Limited (China) on 27 July 2014  Sales contract  Bill of lading (copy non-negotiable)  Packing list  Commercial Invoice  Arrival Notice TRINH THI LAN ANH – GMA 02 Page 41 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions Documentation of international trade between Burwitz Refractory Company and Success Top International Limited (China) on 29 July 2014  Sales contract  Bill of lading (copy non-negotiable)  Packing list  Commercial Invoice  Arrival Notice Documentation of international trade between Burwitz Refractory Company and Kerneos ASIA Pacific Pte Ltd (Singapore)  Collection Notice  Commercial Invoice  Packing list  Insurance certificate  Certificate of origin  Certificate of quality  Bill of lading (copy of original)  Invoice profoma Debit note Business Registration Certificate TRINH THI LAN ANH – GMA 02 Page 42 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions REFERENCES BEROA Deutschuland Gmbh (2014) BEROA Deutschuland: Your Global Partner in Refractory Linings and Chimneys Ratingen: BEROA Deutschuland Gmbh BEROA Group (2007) BEROA Retrieved 09 26, 2014, from BEROA: http://www.beroa-group.com/BEROA BEROA Group (2011, 7) Newsletter N.6 July 2011 Retrieved from Newsletter: http://www.beroagroup.com/newsletter/newsletter/Newsletter6_Julio11/group.htm Burwitz Vietnam (2014) International sales contracts of Burwitz Refractory Company with Success Top International Limited Burwitz Vietnam (2015) Burwitz Vietnam: Connected information Retrieved from Burwitz Vietnam: 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Inaugurating the first refractory linings manufactory in Vietnam (04.03.2005) Retrieved from Vietnam Trade and Industry Review: http://tapchicongthuong.vn/khanh-thanh-nha-may-san-xuat-betong-chiu-lua-dau-tien-o-viet-nam-2330p0c77.ht Vinh.V.Thai (2014) INCOTERMS and Chartering Terms (Vinh.V.Thai, Performer) Haiphong Wang, G., Wong, T., & Wang, X (2014) An ontology based approach to organize multi-agent assisted supply chain negotiations Computers & Industrial Engineerin TRINH THI LAN ANH – GMA 02 Page 64 ... Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions understand the drafting contracts’ process before analyzing the. .. Adjusting contracts’ terms and terms TRINH THI LAN ANH – GMA 02 Page 12 Negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company: Problems and Suggestions... focuses on the negotiation and implementation of the international sale contracts’ terms of Burwitz Refractory Company Research Findings Being witnessed as the first class company in refractory