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требований определяют правомочность расторжения договора покупателем, серьезной причиной для расторжения договора является «основное существо» товаров. В некоторых случаях ненадлежащая упаковка может рассматриваться как дефект товара и со страховой точки зрения лишить страхователя защиты от всех рисков. Обычно в данном пункте контракта указывается, что ответственность за повреждения вследствие неправильной упаковки, а также неправильной антикоррозийной обработки несет продавец.

•Упаковка должна служить носителем информации – рекламы и маркировки. Кроме того, она должна обеспечивать удобство при складировании и хранении товара с учетом места и способа его складирования и средств автоматизации; транспортировке, погрузке и выгрузке с учетом видов транспортных средств и транспортных путей следования груза; таможенных досмотрах; продаже товара.

•Обычно в контракте отдельно оговаривают внешнюю упаковку – тара (container): брезент (canvas cloth), ящики (boxes), контейнеры (containers) и пр., а также внутреннюю упаковку (interior packing), неотделимую от товара.

•Качество упаковки может определяться ссылкой на соответствующие стандарты (established packing standard) и технические условия (technical specifications), если они имеются.

•Способы оплаты упаковки устанавливаются сторонами в контракте и могут предусматривать: включение цены упаковки в цену товара, определение цены упаковки в процентах от цены товара или определение цены упаковки отдельно от цены товара – цена без упаковки (packing not included); цена, включая упаковку (price including packing).

В каждое грузовое место должен быть вложен подробный упаковочный лист.

Маркировка груза

Это необходимые надписи, изображения и условные обозначения, помещаемые на упаковке, бирках или самом отгружаемом товаре. В маркировочных надписях должно содержаться указание страны происхождения. Сторона договора, экспортер, должна предъявить сертификат (свидетельство) происхождения товара. Это особый момент, выдаваемый уполномоченными на то органами в стране экспортера (торговыми палатами, ассоциациями предпринимателей и т.п.).

Маркировка внешнеторгового груза среди прочего содержит, как правило, информацию о стране происхождения.

Маркировка, известная также как «погрузочная разметка», выполняет три основные задачи:

•идентифицирует груз для перевозчиков и других лиц, вовлеченных в транспортировку и имеющих с ними дело во время перевозки или транзита;

•указывает грузополучателю на соответствующие порядок и деятельность для обеспечения правильной доставки груза; мapкировка должна наноситься несмываемой водостойкой краской и позволять отличить груз одного получателя от остальных грузов;

•предупреждает об опасностях, которые может нести с собой перевозимый груз в случае ненадлежащего с ним обращения.

Маркировка дает потребителю необходимую минимальную информацию о товаре, способе его хранения и применения. Маркировка должна включать общие сведения о грузе: наименование производителя, страны происхождения; наименование отправителя (поставщика) груза; наименование получателя груза; пункт назначения; пункт отправления; общие сведения о грузе; номер контракта; номер места; возможную идентификацию; инструкцию по погрузке и выгрузке (например, «Не кантовать», «Верх», «Низ», «Стекло» и т.п.); указания о нахождении инструкции или документации и пр. Обычно правила маркировки содержатся в специальных справочниках.

Иногда требуется дополнительная информация, например, вес брутто, вес нетто, а также предупреждающие знаки, предусмотренные специальными правилами в соответствии со свойствами данного груза, либо наносимые отправителем из соображений безопасности транспортировки или осторожности, для правильного обращения с грузом. При отгрузке товара несколькими партиями маркировку следует унифицировать, предусмотрев изменения для порядковых и фактических номеров ящиков, контейнеров и т.п.

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There is also a risk of financial loss because of a change in the exchange rate. This kind of loss can happen in any export-import situation where the national currencies go up and down in terms of the payment currency. But the risk can be avoided, with the help of a bank, by buying the foreign exchange on the forward exchange market.

The exporter who is due to receive dollars, for example, arranges to sell them at a price fixed in the present but for delivery in two or three months. The time for delivery of the dollars depends on the length of credit given to the importers. At the same time the importers can arrange to buy dollars forward. In each case the traders pay a premium, but they can base their calculations on fixed exchange rates and avoid uncertainty and risk of loss.

Concept check

1. What are the risks and possible reasons for these risks for the parties involved in international business transactions? Complete the chart and describe it.

LANGUAGE STUDY

1. Using contextual clues, guess the best meaning of the words.

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However, if negotiations fail and the sum involved is large enough to warrant the effort, a company should (13)______ the assistance and advice of its bank, legal counsel, and other qualified experts. Since arbitration is often faster and less costly, this step is preferable to legal action if both parties can agree to take their dispute to an arbitration agency. The International Chamber of Commerce (14)______ the majority of international arbitration and is usually acceptable to foreign companies because it is not (15)_______ with any single country.

3.Make up your own sentences using the words and word combinations in 1 and 2.

4.Prepare a three-minute talk on the ways to prevent and solve payment problems in international trade.

READING

GENERAL OVERVIEW OF TERMS OF PAYMENT IN THE CONTRACT OF SALE

Key concepts and terms

Match up the words on the left with their definitions on the right.

Text 7.2. Read the text and explain what is meant by currency and financial terms and conditions in the sales contract.

Currency and Financial Terms of the Sales Contract

General Overview

There exist two groups of terms and conditions of the sales contract regarding payment: currency and financial. Currency terms include price currency and payment currency which have to be adjusted by the application of the corresponding exchange rate if the contract stipulates that these are different currencies. Financial terms comprise first, ways of payment (advance, cash and credit), second, forms of payment (open account, collection, bank transfer and letter of credit), third, means of

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in accordance with the buyers’ letter of instruction. Actually this form of payment may sometimes be lengthy, which is naturally not a benefit for the sellers. The transfer is carried out at current rates of exchange. The bank transfer (post remittance) is used where there is complete trust between sellers and buyers. The buyers can also transfer money through the special international electronic systems offered by commercial banks.

An open account stipulates periodical payments by the importers onto the open account of the exporters after the goods have been sent with due regard for the current backlog. The open account agreement is usually granted by the sellers to the regular buyers in whom the sellers have complete confidence, but sometimes it is granted when the sellers want to attract new buyers, then they risk their money for that end. Actual payment is made monthly, quarterly or annually as agreed upon. This form is disadvantageous to the exporters, but may be good to gain new markets.

Payment for collection means charging an order by the exporters to their bank to receive from the importers a certain sum of money or a confirmation of payment within the agreed period of time. This form does not give any advantages to the exporters because it does not give any guarantee that they will receive payment in time or at all. That is why the exporters usually require that the importers present a guarantee of a first class bank that payment will be effected in due time. Also, there is a long period of time between the delivery of the goods and actual payment. But it is beneficial to the importers because there is no need to withdraw from circulation big sums of money before actually receiving the goods.

The fourth form of payment, a Letter of Credit (a credit or an L/C), is the most frequently used one because it is advantageous and secure both to the exporters and to the importers though it is more expensive than payment by the bank transfer, for example. It overcomes the gap between delivery and payment and gives protection to the sellers by making the money available for them on the fulfilment of the transaction and to the buyers since they know that payment will only be made against shipping documents giving them the title for the goods. (See Text 7.5 for details.)

Means of Payment

As for means of payment, apart from money as it is, substitute money may be used, such as cheques and bills of exchange. Cheques are not practicable in foreign trade as a cheque is payable in the country of origin and its use is time-wasting to say the least. That is why cheques are mostly used for payment in home trade. Using bills of exchange, the exporters credit the importers, which is advantageous to the latter. This is a widely spread means of payment in foreign trade. (See Text 7.4 for details.)

Text 7.3. Read the text and explain the differences and similarities between D/P and D/A.

Two Methods to Effect Payment

In order to reduce risks for both parties, the companies agree upon one of the two methods to effect payment (see the flow chart in Text 7.2): documents against payment (D/P), which is also known as cash against documents (CAD), or documents against acceptance (D/A).

If the D/P method has been agreed, the buyers need the transport documents before they can take possession of the goods they have purchased, but are only given them after paying a sight bill drawn by the sellers. A D/P payment transaction is effected as follows.

1)The sellers send the goods to the carrier (shipowner, airline, etc.).

2)The carrier gives the necessary transport documents to the sellers and transports the goods to the buyers’ country.

3)The sellers collect any other transport documents which may be necessary and give them to their bank (the remitting bank) together with a sight draft.

4)The remitting bank sends the transport documents and the draft to the buyers’ bank (the collecting bank). The buyers are notified when the documents arrive.

5)The buyers pay the sight bill and receive the transport documents in return. They can then take the transport documents to collect their goods from the carrier in their country.

6)The collecting bank sends the payment to the remitting bank. The amount is credited to the

sellers.

This means that if the buyers don’t pay, they don’t get the goods. This minimises the risk for the sellers, because if the buyers don’t pay, the sellers can ask the collecting bank to find another buyer. In theory this minimises the loss for the sellers, but may be a problem if they are exporting perishable goods, for example.

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market. It means that they may be used by the sellers to pay their own debts, but in this case the sellers are to endorse it by signing it on its back, then they can pass it to the new holders.

If the exporters want immediate payment, they can discount the draft with a bank for a commission, i.e. sell it to a bank for its face value less interest, and by supplying a document (a letter of hypothecation) giving the bank the legal right to claim the goods if necessary. Besides, they may leave it with a bank as security for a loan. All this makes the draft a very practical means of payment in foreign trade. Thus, the bill of exchange simplifies the financing of export and import foreign trade and cuts down innumerable movements of currency.

The discount market is a market in which buyers and sellers, mainly banks, trade in bills for profit. It works as follows. The buyers pay the amount of the bill less the discount. This is the amount of interest for the period the bill has to run until maturity. If the period is 90 days, the interest deducted is ¼ of the current rate of interest for that kind of commercial bill times the face value of the bill. If the interest is 10 % and the bill is worth 100 $, the discount for 90 days would be ¼ x 10 % × 100 = 2.50$ because 90 days is ¼ of a year and interest rates are always given for the year. Therefore, the exporters would get 100$–2.50$ for the bill. Naturally, this is less than the importers have to pay after 90 days, so the exporters have to allow for interest when calculating their export prices and when they are giving credit. But how does the buyer of the bill make a profit? The discount for the bill gets less and less as time goes on. Also, interest rates change. So, the holders of the bill can sell it again to another buyer, this time getting more than the amount they paid. If the period left until maturity was 30 days, the interest would be for one month only. At 10 % the discount would be 0.83$, so the seller would get 99.17$ for the bill.

The bill of exchange may be rediscounted at the central bank. However, the central bank only rediscounts a limited number of bills, depending on how high the inflation rate is (if inflation is high, fewer bills will be rediscounted in order to prevent more money going into circulation).

Payment Procedure by Documentary Bills

Payment by documentary bills is simple. The exporters put together a draft drawn on the importers for the amount of money of the contract and all the shipping documents. These are airmailed to a bank in the importers’ country which has the task of collecting payment from the importers.

Payment can be either immediate or after a period of time. If the contract stipulates D/P (documents against payment), the exporters draw a sight draft. This means the collecting bank gets immediate payment from the importers when it presents the shipping documents to them. If, on the other hand, the exporters have agreed to give credit, they use the D/A method (documents against acceptance). This means they draw a time draft which has to be accepted by another bank acting for the importers. The draft might be drawn 90 or 180 days after sight, so the importers’ bank has to pay the collecting bank three or six months after the day they receive the draft. An accepted draft is sometimes called a usance bill. The collecting bank charges the exporters for its services and the accepting bank charges the importers for signing acceptance of the draft (now a usance bill of exchange). The exporters have to give instructions to the collecting bank what to do in case the importers dishonour the draft, i.e. they refuse to accept or pay it. The collecting bank may protest the bill. This means that banks and other companies dealing with them are informed about the dishonouring of the draft. The collection form contains the box in which the exporters are advised to endorse the Bills of Lading. This implies they can only write the name of the agent on the Bill of Lading in case the importers dishonour the draft. The goods can then be sold to somebody else or returned to the exporters.

A protest is a formal written notice that a bill of exchange has been dishonored, and is needed before the payees can go to court to recover the money. If the drawees don’t pay the B/E when it is presented to them at maturity, it will be presented to them again within two working days, this time by a notary public. If the drawees still don’t pay, the notary stamps and signs the bill as a record of the dishonour. Such as dishonour is a serious matter; it may be published in trade journals and at the Chamber of Commerce, in which case the drawees will lose their good reputation.

Types of Bills of Exchange

Each bill of exchange belongs to a certain category, depending on the time at which it matures (has to be paid).

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