represented by a capital letter “C” followed a percentage of commission rate which is inserted into the price term.
39. The unit price is not a net price but a commission-included price.
40. Then the local bank entrusts the correspondent bank to pay the money to the seller by mail transfer (M/T), telegraphic transfer (T/T) or demand draft (D/D).
41. It is a kind of banker’s credit, which means that the banker is responsible to pay money and tender documents on behalf of both parties.
42. A confirmed L/C means the undertaking of a bank in the exporter’s country besides that of opening bank. It means that the confirming bank will pay if the issuing bank cannot pay.
43. The person who draws the draft, usually the exporter, is called the drawer, and the person to whom the draft is drawn is called the drawee. There is another party, payee, the person receiving the payment.
44. D/P calls for actual payment against transfer of shipping documents. There are D/P at sight and D/P after sight.
45. Inspection certificates are used to show whether the goods are in conformity with the terms of contract.
46. Sometimes, a penalty clause should be included in the contract in case one party fails to carry out the contract such as non-delivery, delayed delivery, delayed opening of L/C.
47. In case of a force majeure event, the party who quotes the clause should give prompt notice to the other party within the specified time limited.
48. An award is the decision made by the arbitration tribunal.
49. An arbitration agreement or the arbitration clause in the contract shall provide that which party is to bear the arbitration fees.
50. Under L/C term of payment, the exporter looks to the bank for payment instead of relying on ability or willingness of the importer to pay, but the exporter cannot get payment unless he obeys all the terms in the L/C.
51. By issuing a credit, the bank assumes full responsibility for payment after the proper drafts and documents have been presented.
52. Beneficiary is the party in whose favor the L/C is issued, and who is entitled to receive the payment, that is, the exporter.
53. In this step, the buyer shall fill up the application with commodity name, quality, quantity, unit price, total value, trade term, date of payment, packing, shipping period and so on. It is very common for a buyer to clearly specify a period of validity of the L/C.
54. Generally speaking, the L/C should arrive to the seller at least 15 days before the time of shipment to allow sufficient time to check and amend, if necessary, the L/C and to arrange shipment.
55. If the notification involves two or more clauses, he relevant parties have to accept or reject them all according to practice, and can not accept one part while reject the other parts of them. 56. Forwarding agents are experts in the transportation field with an up-to-date and specialized knowledge of different modes of transport and relative freight rates.
57. Freight can be calculated per metric ton on weight (weight ton) and this method is marked with “W”. It can be also calculated on measurement ton and this method is marked with “M”.
58. For valuable cargoes, ad valorem freight rate is charged in proportion to the estimated value of the cargo and this method is marked with “Ad Val.”
59. The characteristics of air freight are that the freight is charged for airport to airport (single trip) only, and it is the freight only, excluding other charges such as customs fees and storage fees. 60. Demurrage and dispatch are considered as a way of encouraging timely shipment. 61. A bill of lading represents the title to the goods.
62. The liability undertaken by the insurance company is on the basis of insurance coverage.
63.Should the buyer wish to have the protection of greater cover, he would either need to reach an agreement with the seller and specify definitely in the contract or to make his own extra insurance arrangement.
64. The insured amount is the highest compensation amount undertaken by the insurer, and it is also the foundation for calculating the insurance premium.
65. So both the insurance clauses adopted in different countries and the international trade practices stipulate that the insured amount may be a certain percentage over the actual value of the insured goods.
66. Insurance underwriters take a number of specific factors into consideration when they decide on the rate of insurance premium.
67. Generally speaking, the premium for one insurance contract is equal to the insured amount multiplied by the premium rate.
68. Cargo transport insurance is usually taken out on “warehouse to warehouse” basis.
69. If the insured amount is not specified in the sales contract, according to the usual practices, it is the CIF or CIP price plus 10% CIF or CIP price.
70. In case of loss or damage, the consignee shall determine who will be responsible for the loss or damage, and thus determine the party against whom he should raise a claim. 71. Any person who files a claim should have the insurable interest.
72. The importer or the exporter must submit declarations to customs on goods entering or leaving Chinese territory.
73. Only after release by the customs may the cargo be discharged or loaded.
74. The examination of the cargo by the customs is a measure to prevent any illegal cargos being imported into or exported from China.
75. Over-landed cargo is cargo discharged at a port in excess of the amount contracted for.
76. Over-carried cargo relates to goods, destined for a port but not actually discharged there, due to error or overweight, and which are carried on to the next port.
77. A shipping order covers cargo intended for export, and a Bill of Lading refers to goods intended for import.
78. The involvement of customs is essential as duty is abated on damaged goods.
79. The general rates apply to the goods imported from and produced or manufactured in countries or regions with which China has concluded no agreement for reciprocal tariff preference. The preferential rates apply to the goods imported from and produced or manufactured on countries or regions with which China has concluded such an agreement.
80. The customs valuation of import and export goods shall be determined by the customs on the basis of the transaction value of the goods.
81. In the case that the duties are over-levied, the customs, upon discovery, shall refund the money without delay
82. The exporter is responsible for ensuring that the documents for the transport of the goods are complete, accurate and properly and promptly processed in accordance with the sales contract. 83. Shipping note, packing list, bill of lading, consignment note and multimodal transport document are all examples of this category.
84. The accordance between documents and L/C and between documents and documents are the key in L/C settlement.
85. In L/C settlement, banker’s negotiation is merely based on L/C and documents rather than on the terms of sale or the condition of the goods sold.
86. He should submit the documents to banks for negotiation before the maturity and presenting date of L/C.
87. The negotiating bank in turn collects the payment from the paying banks, exchanges the foreign exchange collected for local currency.
88. If the bank confirms that the documents were correct, he will send them to importer for further examination.
89. Disputes about buyer’s refusal or failure to fulfill an obligation as stipulated in the contract mainly cover non-payment, late payment, failure to take delivery of the goods and so on.
90. No matter whether the arbitrators are appointed by the two parties themselves or selected from the panels, they should remain impartial and the number of them should be odd.
91. The parties should automatically execute the arbitral award within the time limit specified in the arbitral award.
92. But there are also other cases in which the buyer intentionally lodges a claim against the seller due to the decline of the market price or for some other unfavorable factors. Such a claim is commonly known as a market claim.
VII. Translate the following English sentences into Chinese.
1. 各种形式的贸易壁垒主要来源于政府干预(government intervention)。 2. 近年来中国经济迅速增长，贸易结构也相应改变很大。
3. 当前国际贸易中最大的困难是非关税壁垒，如进口配额、出口管制等。 4. 现在的大多数贸易协定是多边协定，不是双边协定。 5. 作为在中国的独家代理人，你们的代理区域很广。
6. 作为你方代理，我们将不遗余力的(spare no effort)在我们的市场上推销你们的产品。 7. 我们正在尽最大努力扩大交易额以取得独家经销的资格。 8. 根据合约，你方可以在中国经销我们的产品。 9. 卖方必须自费提供最基本的包装。
10. 买方承担货物在装运港越过船舷后的风险和费用。
11. 在CIF术语下，除了CFR条件下的义务外，卖方还必须办理海洋运输保险。
12. CPT与CFR极为相似，但CFR只适用于海洋运输和内河沿运，而CPT则适于任何运输方式。
13. 请对包装特别注意，否则，货物将会在运输途中损坏。 14. 我们对你方产品的质量很满意，想知道它们是怎么包装的。 15. 我们的豆子是以散装或尼龙袋供应的。
16. 我们采用纸箱，而不是木箱， 因为纸箱同样适用于海上运输，但成本更少重量更轻。 17. 恐怕我们很难提前装运。
18. 我们可以把货物从汕头经香港转运到大阪。 19. 我们得到通知说装运不得不延期到下个月。
20. 据我所知，你还应通知我方合同号码、商品名称、数量、装运港及货物估计到达目的港的日期。
21. 我们一般规定装运港为“中国港口”，这样便于在就近的口岸装运。
22. 如果我们4月15日装运，货物将在5月初到达你方港口，到时候我们将电话通知你方。 23. 保险由卖方按照发票金额的115%负责投保。 24. 我公司将按买方的要求为这批货投保水渍险。
25. 我想偷窃提货不着险以包含在贵公司的CIF报价中。 26. 我公司同意加保破碎险，但其保险费由你方承担。
27. 请你按发票金额的120%向中国人民保险公司投保水渍险和战争险，怎么样？ 28. 我向你保证我们的价格是很优惠的。
29. 你们如果不把价格降到市场价格水平就没有希望做成买卖。 30. 我们希望您报CIF伦敦价，包括3%佣金在内。 31. 价格是上海工厂交货价每公吨300英镑。
32. 我们都让让步，一半用信用证，一半用付款交单怎样？
33. 据我所知，你们现在按照国际惯例行事，也接受其他各种支付方式，是吗？ 34. 我们要求15%的预付货款于装运前一个月汇付至我公司。 35. 我们不能接受承兑交单，但可以考虑接受付款交单。 36. 贵公司应凭我公司的跟单汇票于见票时付款。 37. 如果出现这种情况，谁来承担损失呢？
38. 我们必须在合同中加上不可抗力条款。
39. 买方对货物的索赔应在货物抵达目的港的30天内提出。
40. 如果你们要提出索，需要向我方提交一份由我们同意的检验机构的检验报告。 41. 我将重新打印一份合同，今天下午我们就可以签约。 42. 王玲在审证时发现，除装运期限外其他条款均无问题。
43. 如合同规定，买方应在装运日期之前30天开立以卖方为受益人的信用证。 44. 以你方为受益人的信用证已经开出。
45. 通常，信用证会详细列出受益人的名字、货物种类、数量、单价、总金额、装货港及目的港、贸易术语、支付条款、装运单据、装运有效期及议付有效期等。 46. 费用大体上是按重量和目的地计算的。
47. 我们急需该批货物，务请已收到信用证，立即发货。
48. 在装运港船上交货下，订舱由买方安排，而不是由卖方安排。 49. 我们等候你们的装运指示。
50. 信用证有效期到8月31日截至。
51. 必须提供产地证，否则我们就得多付税了。. 52. 提单上应该注明“运费预付”字样。
53. 我们没有办法只有向你方提出质量低劣索赔。 54. 货物损坏肯定是在途中发生的。
55. 既然我们双方哪一方都不愿意让步，就提交仲裁吧。 56. 你方运来的货物数量与合同规定数量不符。 57. 我们要求你们赔偿我们遭受的损失。
58. 无论如何，我们要求你方采取措施以免类似事件再次发生。
VIII. Read the following passage and answer the questions followed.
The Globalization of Business
Globalization
For better or for worse, globalization has changed the way the world does business. The international Monetary Fund (IMF) defines globalization as the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services and of international capital flows, and also through the more rapid and widespread diffusion of technology. The challenge that businesses and individuals face is to live with it, manage it, and take advantage of the benefits it offers. Technology rules
Technology is one reason for globalization. Computers which have eased telecommunication burdens are cheaper now than they have ever been and more powerful, too. New technology will lead to even further global business interaction, as the Internet becomes more accepted as a business medium worldwide.
Technology has helped small and medium-sized companies take advantages of the new markets that globalization presents. It is these companies, unencumbered by large head offices that can exploit global niche markets. Computers, faxes and E-mails have replaced large parts of the traditional office structures. Smaller companies can operate more efficiently on a much wider geographical basis with less overhead than ever before. Market opening
Those who argue that globalization is a good thing say that companies dealing on the world stage will eventually become much more efficient as they benefit from large economies of scale. Productivity will be boosted and living standards everywhere have the potential to rise as the world becomes richer and more prosperous because of globalization. There is ample evidence to support the benefits arguments. Global quality
Others take the opposite view, claiming that globalization has, in effect, triggered a “race to the