acceptance 承兑 factoring 保理业务 actual total loss 实际全损 forfeiting 包买票据 ad valorem 从价运费 fortuitous accidents 意外事故 additional 附属费 franchise 免赔率 advanced B/L 预签提单 freight rates 运费率 air transportation 空运 freight ton 运费吨 air waybill 空运单 general average 共同海损 ante-dated B/L 倒签提单 general risks 一般外来风险 anticipatory credit 预支信用证 indemnity 赔偿 back-to-back credit 背对背信用证 insurable interest 可保利益 basic freight 基本运费 insurance certificate 保险凭证 beneficiary 受益人 insurance claim 保险索赔 bill of exchange 汇票 insurance cover(age) 保险险别 charter party 租船契约 insurance policy 保险单 charter transportation 租船运输 insurance premium 保险费 charter(tramp) 不定期货船 insurance rate 保险费率 check 支票 irrevocable L/C 不可撤销信用证 claimant 索赔人 lay day 装卸天数 clean B/L 清洁提单 liner/gross terms 班轮条件 clean bill 光票 liners transportation 班轮运输 clean collection 光票托收 measurement ton 尺码吨 clean credit 光票信用证 natural calamity 自然灾害 combined certificate 联合凭证 open policy 预约保单 confirmed L/C 保兑信用证 optional port 选择港 constructive total loss 推定全损 order B/L 指示提单 containerization 集装箱运输 partial loss 部分损失 contribution 分摊 partial shipments 分批装运 deferred payment 延期付款 particular average 单独海损 demurrage 滞期费 paying instrument 支付工具 discount 折扣，贴现 payment by installments 分期付documentary bill 跟单汇票 款 documentary letter of credit 跟单payment in advance 预付 信用证 payment term 支付方式 endorsement 背书 perils of the sea 海上风险 exclusions 除外责任 port of destination 目的港 external risks 外来风险 port of shipment 装运港 extraneous risks 外来风险 presentation 提示
CFS (Container Freight Station) 集装箱货运站 CIC (China Insurance Clauses) 中国保险条例 CP (Charter Party) 租船契约 CY (Container Yard) 集装箱堆场
D/A (documents against acceptance) 承兑交单 D/D (demand draft) 即期汇票
D/P (documents against payment) 付款交单 DR to DR (Door to Door) 门到门运输 F. I. (Free In) 船方管卸不管装
F. I. O. (Free In and Out) 船方不管装卸
F. I. O. S. T. (Free In and Out, Stowed ＆ Trimmed) 船方不管装卸，理舱和平舱F. O. (Free Out) 船方管装不管卸
FCI (Factors Chain International) 国际保理联合会 FCL (Full Container Load) 整装箱
FPA (Free from Particular Average) 平安险 GA (General Contribution) 共同分摊
ICC (Institute Cargo Clause) 协会货物运输保险条款
IMT (International Multimodal Transportation) 国际多式联运 IOP (irrespective of percentage) 不计免赔率
presenting bank 代收行 promissory note 本票
proximate cause 近因原则
rail(way) transportation 铁路运输 reciprocal credit 对开信用证 red clause credit 红条款信用证 remittance 汇付
revocable L/C 可撤销信用证 revolving credit 循环信用证 road transportation 公路运输 sea transportation 海运 sea waybill 海运单 sight draft 即期汇票 sight L/C即期信用证
special risks 特殊外来风险 stale B/L 过期提单
standby L/C 备用信用证 straight B/L 记名提单 subject matter 保险标的 subrogation 代位求偿权 sum insured 保险金额 surcharge 附加费 tenor 汇票期限
the insured/insurant 被保险人 the insurer 承保人，保险公司 time charter 期租船 time of delivery 交货期 time/usance draft 远期汇票 total loss 全部损失
transferable L/C 可转让信用证 transshipment 转船 underwriter 承保人
unexpected accidents 意外事故 utmost good faith 最大诚信原则 voyage charter 程租船 weight ton 重量吨
L/C (letter of credit) 信用证 L/G (letter of guarantee) 保函
LCL (Less than Container Load) 拼装箱 M (Measurement) 尺码 M/T (mail transfer) 信汇
MTO (Multimodal Transportation Operator) 多式联运经营人
PICC (the People’s Insurance Company of China) 中国人民保险公司 SRCC (strikes, riots and civil commotions) 罢工，暴动，民变脸 T/T (telegraphic transfer) 电汇
TPND (theft, pilferage and non-delivery) 偷窃提货不着险
UCP 600 (Uniform Customs and Practice for Documentary Credit 600) 跟单信用证统一惯例 600 URC 522 (Uniform Rules for Collection 522) 托收统一规则 W (Weight) 重量
W/W Clause (Warehouse to Warehouse Clause) 仓至仓条款 WPA (With Particular Average) 水渍险
Chapter 5
1. In international cargo transportation, the most widely adopted bill of lading is D. order bill of lading. 2. In DES contracts, a reasonable order for time of shipment and time of delivery is B. June 1 and July 1.
3. A bill of lading is C. ante-dated B/L when its date of shipment is indicated earlier than the actual time of shipment.
4. A (An) D. bill of lading represents title to the cargo. 5. In the import and export business, B. an ocean B/L can be made out to negotiable document. 6. The bill of lading presented to the consignee or buyer or his bank after the stipulated expiry date of presentation or after the goods are due at the port of destination is a A. stale B/L.
7. A “freight to be collected” B/L is acceptable to the buyer when the contract is based on A. FOB. 8. A C. conference liner normally has regular scheduled departures, specified routes and comparatively fixed freight rates.
9. An order B/L with blank endorsement is a B/L showing B. neither the name of consignee nor the name of transferee. 10. A(n) A. straight B/L refers to one that is made out to a designated consignee. Chapter 6
1. The main document adopted by the insured to make claims against the insurer is D. insurance document. 2. Perils of the sea, such as vessel being stranded or grounded covered in an insurance policy are one kind of B. fortuitous accidents. 3. According to “Ocean Marine Cargo Clause of the People’s Insurance Company of China”, the coverage which cannot be effected independently is C. War Risk.
4. Company A exported 5 metric tons of tea. The tea suffered heavy storm in transit. The sea water in the ship’s hold led to the deterioration in the quality of part of the tea exported. This kind of loss is D. particular average. 5. The insurance document that is acceptable mostly in Hong Kong of China, Singapore and Malaysia is C. combined certificate. 6. The coverage of ICC(A) is equivalent to that of C. All Risks of CIC. 7. Risks such as “failure to delivery risk” or “rejection risk” fall within the category of B. special extraneous risks. 8. According to “Ocean Marine Cargo Clause of the People’s Insurance Company of China”, the basic coverage that is the least extensive is A. FPA. 9. In the case of air freight, if the subject matter insured failed to reach the warehouse at destination stipulated in the insurance policy, the expiration of the insurance is B. 30 days after completion of discharge overside from the overseas vessel at the final port of discharge.
10. Under C. ICC(C) coverage of London Institute Cargo Clause, only major casualties are covered, but not natural calamities. Chapter 7
1. If there is no specific provision, the draft under a letter of credit should draw on the B. issuing bank.
2. The draft used in collection is D. a commercial draft, based on commercial credit. 3. A standby credit B. is a special clean credit. 4. Under collection once the importer refuses to pay, the C. principal will be responsible for the cargo release, customs clearance, warehousing, and reselling in the importing country. 5. The bill of exchange used in D/A must be a D. usance bill. 6. If a bank other than the issuing bank guarantees the payment under an L/C, this L/C is A. a confirmed credit. 7. A C. reciprocal credit is normally used in processing trade. 8. Which of the following statements is NOT true about remittance? A. It provides highest security to the buyer but not the seller. 9. B. packing loan is a L/C based financing which will provide the exporter funds before the goods are produced.
10. If the exporter finds out mistakes on a received L/C, he should contact the B. importer at the first place.
Chapter 5
T 1 .Liner freight has covered the loading and unloading fee.
F 2. When the ship-owner speeds up his ship and arrives at the destination at an earlier date than stipulated, he can obtain dispatch money from the charterer.
T 3. When the charterer fails to load or unload the goods within the stipulated period of time, he has to pay demurrage to the ship owner.
F 4. Ocean bills of lading, air waybills and rail waybills are property documents presenting title to cargoes, so they are all negotiable.
T 5. Bills of lading are usually made out in a full set including several originals and copies. F 6. Since straight B/L bears higher risk than the open B/L , it is rarely used in international transportation.
F 7. A clean B/L is issued by the seller to the buyer to certify that the goods delivered are in apparent goods condition.
F 8. In international trade practice, the time of shipment is actually the time of delivery.
T 9. Sometimes when the buyer cannot determine a specific port of discharge during negotiation, he may require two or three ports to be written on the contract as optional ports.
T 10. UCP 600 stipulates that partial shipment and transshipment are allowed unless it is stipulated otherwise. Chapter 6
F 1. In marine cargo insurance, general average is to be borne by the carrier, who may, upon presentation of evidence of the loss, recover the loss from the insurance underwriter. F 2. In Chinese insurance practice, open policy is the same as the insurance certificate.
T 3. Special additional coverages such as war risks, strikes and so on must be taken out together with FPA, WPA or ALL Risks.
F 4. In ocean marine insurance, natural calamities include heavy weather, earthquake, tsunami, flood, collision, etc.
T 5. The coverage of Land Transportation Risk and Air Transportation Risk are almost equivalent to WPA in marine cargo insurance.
F 6. Subrogation Principle states that in the event of loss of or damage to the subject matter insured resulting from an insured peril, the insured is placed in the same position that he enjoyed immediately before the loss occurred.
T 7. The 10% markup rate of the commercial invoice value in an insurance policy is to cover an anticipated profit as well as other additional costs involved.
T 8. Under a deductible franchise, where the loss or damage exceeds the percentage allowed, the insurance company needs merely indemnify the exceeding part to the insured.
F 9. Ocean marine insurance covers ships and their cargo only on the high seas and not on inland waterways.
F 10. The claimant is the party who suffers loss of or damage to the subject matter insured by himself.
Chapter 7
F 1. If the remittance is made by a banker’s demand draft, this payment is based on bank credit. T 2. For a confirmed credit, the confirming bank holds the same liability as the issuing bank.
T 3. A letter of credit which does not indicate whether it is revocable or not is regarded as irrevocable. F 4. A letter of credit not mentioning ti is non-transferable will be seen as transferable.
F 5. Using a third currency in collecting payment is the best protection against currency risk for the seller.
T 6. Since under L/C the seller gets payment from a party independent of the buyer, it is the safest mode for him.
T 7. Open account and payment in advance indicate the minimum and maximum risk for the importer. F 8. Dishonor only refers to the rejection to the presentation for payment, but not rejection to the presentation for acceptance.
T 9. Under collection though the seller collects payment through banks, it is not guaranteed that he will receive the money as collection is still based on commercial credit.
F 10. In international trade clean collection is more frequently used than documentary collection.
Chapter 5
1. Under what circumstances does the time of shipment equal to the time of delivery?
Time of shipment refers to the time limit for loading the goods on board the vessel at the port of shipment while time of delivery refers to the time limit during which the seller shall deliver the goods to the buyer at the agreed place.
For all shipment contracts, time of shipment equals to time of delivery, and according to Incoterms 2010, contracts concluded on the basis terms like FOB, CFR, CIF, FCA, CPT, CIP are shipment contracts. Under the shipment contract, the seller fulfills his obligation of delivery when the goods are shipped on board the vessel or delivered to the carrier and the seller only bears all risks prior to shipment. 2. What are the functions of a bill of a lading?
A cargo receipt, evidence of a contract of carriage, a document of title to the goods.
3. What are the main types of bills of lading? ·According to whether the goods have been loaded on board the carrying vessel: Shipped B/L and received for shipment B/L ·According to the apparent condition of the received cargo: Clean B/L and Unclean B/L, ·According to the address of the consignee: Straight B/L, Order B/L and Bear B/L, ·According to whether transshipment is involved in transit: Direct B/L and Transshipment B/L, ·According to the perplexity or simplicity of the bill content: Long term B/L and Short term B/L, ·According to the payment condition of freight: Freight prepaid B/L and Freight to be Collected B/L ·According to the validity: Original B/L and Copy B/L ·Other forms of bill of lading also exist according to different circumstances: Stale B/L, Ante-dated B/L, Advanced B/L, On-deck B/L.
4. What are the ways of dividing charges of loading and unloading in a charter party? ·Liner Terms/ Gross Terms or In and out: The ship-owner bears loading and unloading cost. ·Free in: The ship-owner is only responsible for unloading cost. ·Free out: The ship-owner is only responsible for loading cost. ·Free in and out: The ship-owner does not bear loading and unloading cost. OR F. I. O. S. T.: The ship-owner does not bear loading and unloading cost, not even bear the expenses of stowing and trimming. 5. What factors are to be concerned in stipulating clause of delivery in a contract?
Time of delivery(time of shipment), port (place) of shipment and port (place) of destination, partial shipment, transshipment, or lay days, demurrage and dispatch money. Chapter 6
1. What are the differences between general average and particular average?
Although both general average and particular average belong to the category of partial loss, there is still some differences between them: ·Causes: Particular average is a kind of cargo loss usually caused directly by sea perils, while general average is caused by intentional measures taken to save the common interest. ·Indemnification: Particular average is often borne by the party whose cargo is damaged, while general average should be proportionally contributed among all parties benefited from the intentional measures.
2. What are the conditions for general average? ·The danger that threatens the common safety of cargo and/or vessel shall be materially existent and is not foreseen. ·The measures taken by the master shall be aimed to remove the common danger of both vessel and cargo and shall be undertaken deliberately and reasonably for common safety. ·The sacrifice shall be specialized and not caused by perils directly and the expense incurred shall be additional expense which is not within the operation budget.
·The actions of the ship’s master shall be successful in saving the voyage
3. What are the differences between the scope of ICC(B) and ICC(C)?
The scope of ICC(C) covers loss of damage to the cargo attributable to fire or explosion, vessel of craft being stranded, grounded, sunk or capsized, overturning or derailment of land conveyance, collision or contract of vessel, craft or conveyance with any external object other than water, or discharge of cargo at a port of distress, general average sacrifice, or jettison.
Apart from those covered under ICC(C), the scope of ICC(B) also covers loss of or damage to the subject matter insured attributable to earthquake, volcanic eruption or conveyance, container, liftvan or place of storage, or total loss of any package lost overboard or dropped whilst loading onto or unloading form, vessel or craft.
4. What are the risks that are known as general additional coverage
1)T.P.N.D(Theft, Pilferage and Non-delivery), 2)Fresh Water Rain Damage, 3)Risk of Shortage, 4)Risk of Inter Mixture and Contamination, 5)Risk of Leakage, 6)Risk of Clash and Breakage, 7)Risk of Odor, 8)Heating and Sweating Risk, 9)Hook Damage, 10)Risk of Rust, 11)Breakage of Packing Damage 5. What are the main expenses involved in ocean marine insurance? How to define them? Marine cargo insurance also covers the expenses incurred to avoid or reduce the damage to or loss of the subject matter insured. There are mainly two types of expenses. One is Sue and labor expense, the other is salvage charges.
Sue and labor expense are extraordinary expenses made in a time of peril by the insured to act to avert, or minimize any loss of or damage to the subject matter insured. Salvage charges are
expenses resulting from measures properly taken by a third party other than the insured, his agent, or any person employed by them to preserve maritime property from peril at sea. 6. What documents are needed when an insurance claim is made? ·Original insurance policy or insurance certificate
·Original bill of lading or other transport document ·Commercial invoice ·Packing list
·Certificate of Loss(Survey) ·The landing account or weight notes(notes on weight) at destination ·Any correspondence with the carrier or any other party who could be responsible for the loss or damage
·Master’s protest.
Chapter 7
1. After Bank X advised exporter Y of the L/C, the shipment was made. When the cargo was on the way, the importer filed for bankruptcy. Is Y out luck of collecting the payment? Can the opening bank refuse to make reimbursement to the negotiating bank? Why or why not? No, exporter Y does not need to worry about the payment. Because the payment is by L/C, the issuing bank is responsible for making payment regardless of the importer’s situation. But the condition is that exporter Y can fulfill all the requirements listed on the L/C. According to UCP600, a credit constitutes a definite undertaking of the opening bank to pay or to pay at maturity in case of acceptance. Therefore once the stipulated documents are presented to the opening bank and the terms and conditions of the credit are complied with, the opening bank cannot refuse to make reimbursement to the negotiating bank.
2. An L/C does not indicate whether it is revocable or not. Is it revocable? Can a revocable credit be transferable?
According to UCP600, if an L/C does not indicate whether it is irrevocable or not, it will be considered as irrevocable. And a transferable L/C must be irrevocable. 3. After a gullible importer paid Bank C against the seemingly correct shipping documents, he went to take the delivery, but found out that the goods were inferior counterfeits. Is Bank C liable under UCP600? Can the importer do anything in order to recover the loss?
Bank C is not liable in this case because UCP600 stipulates that in credit operations all parties concerned deal with documents, and not with goods, services and/or other performances to which the documents may relate. In order to recover the loss, the importer should rely on the sales contract and seek for solution. 4. An exporter, Wu Co., received an L/C issued by Bank B and confirmed by Bank K. After Wu shipped the goods, Bank B declared bankruptcy. Will Wu have sleepless nights?
No, Wu Co. Does not need to worry about the payment. When the L/C is confirmed, the confirming bank holds the same definite undertaking as the issuing bank to pay or to pay at maturity in case of acceptance.
5. Does a payment credit differ from a sight credit?
A payment credit could be settled by sight payment or deferred payment. In both cases, a draft drawn on the issuing bank may not be necessary. While when a sight credit is used, payment would be made immediately against a sight draft and required commercial documents. 6. Are the following credits transferable? (A)This L/C assignable; (B)This L/C is transmissible; (C)This L/C is fractionable; (D)This L/C is divisible.
According to UCP600, a credit can be transferred only if it is expressly designated as
“transferable” by the issuing bank. Terms such as “divisible”, “fractionable”, “assignable”, and “transmissible” do not render the Credit transferable.
7. Under an anticipatory credit, the exporter made an advance, but disappeared without presenting the documents as required. Who is liable for repayment of the advance? The special clause is required by the applicant, as a result he has to make repayment of the advances if the beneficiary fails to present documents for settlement. 8. Why a back-to-back credit is needed? Give an example.
A back-to-back credit is normally used by middleperson for the protection of his interest. For
example, agent A received a documentary credit from the end buyer B, A can use this credit as a backup to apply for the opening of a new credit in favor of the end supplier C. By doing so A can be sure that neither B nor C would know each other, therefore well protecting A’s business confidentiality. 9. What is the difference between a back-to-back credit and a transferable credit?
When a back-to-back credit is used, there actually involve two credits. When a transferable credit is used, operation is based on only one credit.
Chapter 5
1. The price quoted by an exporter was “USD38 per case FOB Liverpool”. The importer requested a revised CFR Liverpool price. If the size of each case was 50cm*40cm*30cm, gross weight per case was 40kg, freight basis was W/M and the quotation for London is USD100 per ton of carriage, plus 20% bunker adjustment factor (BAF) and 10% currency adjustment factor (CAF), what would be the CFR price?
W=40kg=0.04M/T M=50cm*40cm*30cm=0.5*0.4*0.3=0.06cm3 M>W M will be used as freight basis for freight calculation.
Freight per case=M*basic freight*( 1+BAF rate)=0.06*100*(1+20%)=USD 7.2 Total freight per case=7.2*(1+10%)=USD 7.92 CFR=FOB+Freight=38+7.92=USD 45.92
The CFR price would be USD 45.92 per case CFR Liverpool
2. There is one consignment of 10 cartons of leather shoes, measurement of each carton is 50*50*50cm, gross weight of each is 15KG. The air freight are quoted for the flight required is USD1.3KG. How much air freight should be paid to the carrier? W=15kg M= (50*50*50)/6000=20.83kg M>W Freight=USD 1.3/kg*20.83*10 cartons=USD 270.79 The air freight is USD 270.79
3. Suppose: Company A exports 1000 cases of Commodity Y to London. The volume per case is 40cm x 30cm x 20cm, and the gross weight is 30kg per case. For Commodity Y, the freight rate basis is W/M, and the Freight Tariff (China —London) is USD230, with a 10% port surcharge. How much is the total freight?
Total weight: 0.03 M/T*1000 cases=30M/T Total measurement: 0.4x0.3x0.2*1000 cases=24M3
W > M, “W” is the freight basis
Total Freight=Total weight× Basic Freight Rate×(1+ Surcharge)=30×230×(1+10%)= USD 7590 The total freight cost is USD7590.
4. Company A wants to send one consignment to Sydney, Australia. The goods are packed in 50 cartons, each weighing 15kgs, with measurement as 50 x 40 x 30cm. The air freight rate is quoted at USD2.00/KG (W/M). How much would the total air freight cost?
W: 15 kg M: (50x40x30)/6000=10kg W> M, so W will be adopted for the calculation of air
freight
Air freight=Total Quantity× Basic Freight Rate=50 cartons×15kg×USD2.00/kg =USD 1500 The total air freight cost is USD 1500.
5. Suppose the working period at Port X is 8 hours a day and 7 days in a week. If there are four rainy hours unable for loading and unloading in a week, how many standard days are there under the above three methods of stipulation for lay time respectively? Days or Running Days or Consecutive Days=7 days
1 Weather Working Days of 24 Hours=8*7- 4(rainy hours)=52 hours=2 days
65 Weather Working Days of 24 Consecutive Hours=7*24-4=164 hours=6 days
6Chapter 6
11. A Chinese company offered to a British counterpart at USD500 per case FOB Shanghai. The British importer asked the exporter to offer a CIF price. Suppose the freight is USD 50 per case and premium rate is 0.6%, what would the new offer be? CIF=(FOB+F)/(1-110%*R)=(500+50)/(1-110%*0.5%)=USD 533 The new offer is USD 533 per case CIF Shanghai.
12. Company A transacted with Company B, exporting frozen food under CIF. The total amount of the invoice value was USD 10 000. The premium rate was 0.4% and the goods were insured for FPA with a markup of 10%. Please calculate the insurance amount and insurance premium respectively?
Insurance amount=CIF*(1+markup rate)=10 000*110%=USD 1100
Insurance premium=CIF insurance amount*insurance rate=1100*0.4%=USD 44
The insurance amount and insurance premium are USD 1100 and USD 44 respectively. 13. Our exporting company offered light industrial products to a British importer at GBP10 000 per metric ton CIF London (insurance for All Risks with 10% markup and 1% premium rate). However, the importer intended to effect insurance by himself, as a result, he count-offered CFR price. What is the CFR price? How much premium should the exporter need to deduct from the CIF price?
CFR=CIF*(1-110%*R)=10 000*(1-110%*1%)=GBP 9890 Insurance premium=CIF-CFR=10 000-9890=GBP 110
The CFR price is GBP 9890 per metric ton CFR London and the exporter need to deduct
GBP 110 from the CIF price as the premium.
14. Suppose a cargo vessel loaded with cargo of Party A and Party B stranded in transit. To save the vessel as well as the goods on it, the master ordered to throw 1000 cases of goods to the sea. The value of the goods thrown overboard for Party A is 20% of his goods (the total value of his goods is CNY20000) and that for Party B is 10% of his goods (the total value of his goods is CNY60000). Extra wages for the seamen to perform the act amounted to CNY5000. The value of the vessel is about CNY5000000. Based on the information above what is the G.A. contribution for each party involved?
Total GA loss=20000x20%+60000x10%+5000=CNY 15000
Total GA contributory value=20 000x 80%+ 60 000x90%+5 000 000+15 000= CNY 5 080 000
GA percentage = (Total GA loss / GA Total Benefit) x 100%=(15 000/5 080 000)x100%=0.295%
GA Contribution by Party A=20 000 x 0.295% = CNY 59 GA Contribution by Party B=60 000 x 0.295% = CNY 177
GA Contribution by the Carrier=5 000 000x0.295% =CNY 14750
15. Suppose the CIF invoice value is USD50 000 and goods are insured against All Risks and War Risks with premium rate to be 0.5% and 0.05% respectively. If markup rate is 10%, the insurance premium will be:
Insurance Premium (I)=50 000*(1+10%)*(0.5%+0.05%)=55 000*0.0055=USD 302.5
Chapter 5
1. ABC Co. signed a contract to export 200 M/T of beans. The letter of credit stipulated, “Partial shipment not allowed”. When the shipment was being made, the exporter loaded 100 M/T each on board the same vessel for the same voyage at the port of Shanghai and the port of Dalian. The shipment document was clearly marked with the ports of shipment and the dates of shipment. Did the exporter violate the terms of the L/C?
析:No, 卖方没有违反信用证“不允许装船” 的规定。答题切入点：对转船的定义和相关规定的理解。UCP600 Article 31, “…transportation documents, which appear on their face to indicate that shipment commencing on the same means of conveyance and for the same journey, provided they indicate the same destination, will not be regarded as covering a partial shipment, even if they indicate different dates of shipment or different ports of loading, places of taking in charge or dispatch.”
2. Dee co. signed a large export contract stipulating, “shipment will be made during August of 2008”. But due to the problems with the vessel, the shipment was not made until September 13. Upon Dee?s request, the carrier ante-dated the B/L to August 31. (1) What could be the consequence of ante-dating?
(2) What would be the right thing to do in case of a possible shipment delay?
析:(1)倒签提单是一种严重的合谋欺诈行为，托运人和承运人都可能被追究法律责任，如使收货人蒙受损失，还会被追讨赔偿。Changing the date of shipment on B/L is a forgery. Both the seller and carrier are liable. In the worst case, the vessel and goods could be impounded. Because
according to UCP 600, the B/L shall be presented within 21 days after issuance, unless otherwise stipulated in the credit.
(2)与买方磋商，寻求双方都能接受的解决办法。1）延期信用证的有效期和船期，2）买方同意向银行（开证行）和卖方开出保函，保证接受签发日期迟于信用证规定日期的提单。Honesty is the best policy. The seller should contact the buyer immediately about remedy measures. Even if the buyer does not cooperate, the penalty for the shipment delay is not likely to be largely.
3. A Chinese exporter signed a CIF contract with a foreign importer. Payment was to be made by irrevocable sight L/C. ……Finally the exporter accepted the claim and made compensation as requested, as he thought that he, as the person booking the vessel, should be liable for the carrier?s unauthorized transshipment. (1) Do you think the settlement of this case appropriate? (2) Who should bear the loss? Why?
(3) Who should be liable for the damage? Why? (4) What should the seller do?
析:本题的解题要点：a. 信用证规定不允许转船； b. 卖方与承运人签订的运输合同是要求直达船运输的，有直达提单为证； c. 承运人中途卸货转船是其单方面的违约行为。 （1）答案：No。 卖方不应赔偿买方的损失。
答题切入点： a. CIF的性质和卖方的责任 b. 中途卸货转船的责任人。 （2）答案：买方自己而不应由卖方承担损失。 答题切入点：贸易术语CIF风险的转移。 （3）答案：承运人应对货损负责。
答题切入点：a. Direct B/L的含义 b. 造成货损的直接原因及其责任方。 （4）答案：卖方可建议并协助买方直接向承运人交涉并索赔。
答题切入点：卖方不是货损的责任人。 Chapter 6
1. X Company signed a CIF contract to export candies. The cargo was insured for “all risks”. Due to the long voyage, candies absorbed sweating in the ship?s hold, and thus softened and degraded. Was the insurance company liable for the damage? Why or why not?
析:NO. “due to … Degraded”,这说明candies变软的原因在于长时间海上运输，吸收了船舱的热气所致。保险公司不应给予赔偿的原因有三：a. 在货物运输保险中没有”长时间运输”这一风险。b. Candy变软是由于其本身的货物特性决定的，糖果即使在常温下摆放一段时间都会变软，因此可认为是糖果的内在瑕疵(inherent vice)所导致的。c.虽然一般附加险中包含了”heating and sweating”这一险种，但此险种是指由于某种意外的原因（如船上的制冷设备坏了）导致船舱内温度、湿度突然变化， 造成货物品质变化的情况下，本案例不属于此情况。This is inherent vice, is exclusions of the insurance company. Heating and Sweating Risk: Under this coverage is the risk of loss of or damage to the goods by sweating and heating as a result of the sudden change of temperature or the ventilation on the vessel being out of order. All Risks shall in no case be deemed to extend to cover loss, damage or expense caused by heating and sweating.
2. A cargo was insured for “all risks”. On a night voyage, the ship had to sail without lights due to air attacks. As a result, it collided with another ship and sank. Was the loss covered by the insurance policy? Why or why not?
析:YES. 货物损失的是船只相撞造成的，失事船只只在夜间熄灯航线是为了躲避空袭，但空袭对船只并没有造成事实上的损失，因此不能在近因原则框架内分析。本批货物只投保了All Risks, 其中包括了船只相撞(collision)这种风险，因此，保险公司应该赔付。This belongs to fortuitous accident, so it belongs to FPA. All Risks means that the insurer shall undertake the liabilities under FPA and WPA.
3. An exporter signed an FOB contract with a French company and a CIF contract with a British Company. Both cargoes were insured for marine cargo insurance. But in transit from the exporter?s factory to the port of shipment, the goods were damaged. Under each deal, who should obtain insurance? Who should take the loss?
析:1）FOB下，进口商法国公司投保，CIF下出口商投保。因为FOB下，风险在船舷转移，买方承担主要航程的风险，因此通常是买方去投保，但在CIF下，卖方有购买保险的责任，卖方是投保人。2）FOB下，出口商承担损失，CIF下出口商承担损失，但如果风险在承保范围内，出口商可以向保险公司索赔。两种术语下，风险转移都是在船舷，受损发生在之前，卖方是受损方，因此卖方提起索赔，但索赔要满足三个条件：如果投保人或受益人投了保，且风险在承保范围内，又对受损货物有可保利益the Interest Principle，同时又能满足仓至仓条款W/W Clause，索赔人就可以向保险公司索赔。
4. On a voyage the cargo ship had an accidental fire. To save the ship, the captain ordered to have water poured into the compartment. The fire was put out. 7. For party X,…10% of USD 0.5 million cargo. 8. For party Y,…20% of USD 1 million cargo. 9. For the carrier,…10% of USD 50 million ship 10. Extra wages for the seamen totaled USD50 000. Based on the information above, indicate 1) Which is PA? 2) Which is GA?
3) What is the GA contribution for each party? 析:1) party X, Carrier. 2) party Y, Extra wages. 3) Total GA loss=1*20%+0.05=0.25 million
Total GA contributory value=1+0.5*90%+ 50*90%=46.45 million GA percentage=(0.25/46.45)*100%=0.54%
GA contributory by party X=0.5*90%*0.54%=USD 2430 GA contributory by party Y=1 000 000*0.54%=USD 5400 GA contributory by carrier=50*90%*0.54%=USD 243 000
11. An importer signed an FOB contract with an Australian company, importing a batch of woolen blanket.…WPA and War Risks…4 cm in diameter…Comment on this case and work out the solution.
析:1）卖方的损失？本案例中卖方已经按合同和术语要求完成了交货，货物受损是在风险转移之后，因此损失应该有买方负责。2）保险公司负责理赔？案例中”the exporter suggested the importer lodge a claim against the insurer for compensation”一说不正确。进口商虽然投保了WPA和战争险，但损失是由于集装箱的问题造成的，属于第三方的责任，买方没有理由向保险公司索赔。3）谁是第三责任方？货物受损是由于承运人提供的集装箱出问题而导致的，因此承运人应该负担责任，买方应该向承运人索赔。 Chapter 7
6. On September 1, X Company signed a contract to export goods to the US. On September 30, City Bank sent an irrevocable L/C with an amount of USD30,000. The L/C stipulated shipment during October, and Bank of Tokyo to be the reimbursing bank. On October 2, Bank of China advised X of the L/C. But ten days later, X learnt that the import was near bankruptcy. How should X deal with the situation?
析: a案例中X公司收到的是一份不可撤销的信用证（an irrevocable L／C），说明X 公司在满足信用证所列条件的情况下，可以直接从开证行或开证行指定银行获得货款，而 不需考虑进口商的状况。
b在这种情况下，X 公司在做决策时，需要考虑的一是自身完 成信用证所列条件的能力，二是与进口商的合作问题。
答题切入点：a信用证支付情况下各方的关系；b X 公司可选择的做法及注意事项。
7. F, a state-owned enterprise, signed a contract to import 1000 M/T of galvanized steel sheets from a H.K. company. On March 1, a Shanghai bank issued the L/C for USD200,000. On March 24,…On March 25…On March 26…On March 30…The issuing bank was immediately notified of the fraud,…
In April 5,…On April 14, the issuing bank requested the HK bank to exercise the right of recourse.(a) Would there be any problem with the recourse? (b) What were the lessons? 析:A.在3月30日进口方发现货不对板，通知开证行时开证行“could not refuse to take up the document”，这里说明开证行尽管知道货不对板，但如果它认为议付行所提交的单证与信用证相符，开证行必须依照信用证规定的义务行事，即对议付行进行偿付。因为，在信用证的运作下，各方只凭单据操作，而不涉及实际的货物。 B.4月5日进口商发现单据有不符点，可以想象的结果就是进口商拒绝赎单付款。 此时开证行已向议付行支付了货款，而又遭到进口商以正当理由拒绝赎单付款，它是遭受损失的一方，因此会向议付行提出行使追索权。 C 但根据UCP600 开证行进行的议付是“无追索权的议付”。 (a)答案：Yes。
答题切入点：UCP600 对开证行责任的规定。
(b)答题切入点：在分析所吸取教训的时候，要分步进行。 a首先要分析在这起事件中哪几方遭受损
失；b然后进一步说明各方遭受损失的原因；c最后提出预防类似情况 出现的方法。
8. FF Company signed a contract to export goods to AA company in Africa. In September FF was notified of the L/C, but the money of account was different from that required by the sales contract.…The next day, AA cabled back, “L/C amended.”…At this time, AA requested DP-TR. Should FF accept it? Is there any lesson to be learnt from this case?
析:案例中AA 公司要求的DP-TR 是指付款交单凭信托收据接单的做法。 这种支付方式是对过去的远期付款交单的一种折中办法。 过去有贸易商采用远期付款交单，但这种方法并不能够给进口商提供所需的融资时间，因为在等待远期汇票到期的这段时间，进口商不能把单据从银行拿出来，以便销售，回笼资金。 DP-TR 是托收的委托人或代收行允许进口商使用一张信托收据来把提单等单据借出去，进行销售并在汇票到期日把货款还上。 如果允许使用DP-TR，则委托人或代收行要承担进口商借单不还款的风险。
答题切入点：a 解释DP-TR 的应用特点；b 对AA 的过往行为进行判断，对其要求DP-TR 的目的进行分析；c FF 如果同意采用DP-TR 可能出现的后果；d FF 是受损一方，分析其在不同阶段所犯的错误及预防错误的方法。
9. A Chinese bank issued standby L/Cs totaling millions of US dollars, in favor of an US company. These were irrevocable, transferable standby L/Cs valid for one year.…”It has no obligation to repay principal and interest, and bears no responsibility, economic or legal, for the funds.” Was there any risk for the bank?
析:A 本案例中各方的关系可能是：某中国公司要某美国公司投资某项目，作为完成项目的担保，向银行申请开出一份备用信用证，受益方是美国公司。 中国公司在申请信用证的时候可能游说银行，使其相信这只是帮助吸引外资的一个文件，该公司会承担完成项目的责任，而美国公司则负责出资，所以银行不会承担任何风险。 中方银行在对备用信用证没有了解的情况下同意该操作。 B 备用信用证尽管是一种特殊的信用证，它为申请人提供担保，在申请人未能完成所规定义务的情况下向受益人支付约定的款项；但它的本质还是一份信用证，即在符合条件的情况下开证行对受益人承诺付款义务。 C 案例中的开证行对备用信用证了解不透，误解了它所应承担的责任，因此也忽略了它可能承担的风险：当中国公司不能履行其义务时，开证行是要向美国公司支付相应款项的。
答案：Yes。 答题切入点：a备用信用证的特点；b信用证使用中开证行的义务；c案例中如果申请人不能履行义务，开证行的责任。