GROUP ASSIGNMENT CHAPTER 5 GROUP 2

GROUP ASSIGNMENT CHAPTER 5
GROUP 2
INTERNATIONAL SALE CONTRACT
Date: March 16, 2020
Party A:

ABC Trading Co, Ltd. (Vietnam)
Address:
Fax:
Represented by:
Hereinafter referred to the Seller

Party B:

NZ Co, Ltd. (Japan).
Address:
Fax:
Represented by:
Hereinafter referred to the Buyer
Both parties have agreed to sign the contract with the following terms and conditions:
1. Commodity: Coffee (types of coffee need to be specified, Ex: Vietnam Robusta Coffee)
2. Quality: As shipment in last month (Quality/ Specification need to be specified or
“according to the sample agreed by both parties shipped”)
3. Quantity: 500 MT more or less 5% (at buyer’s option)
***Lack of Packaging: The goods to be packed in the Manufacturer's Standard Export
4. Price:
- Price to be understood FCA or CIF (choose FCA or CIF, If we use a
combination of two term, it should be written details with the percentage of each
term), which port? Incoterms 2000 or 2010?
- Unit price: USD 1,200/MT
- Total amount: USD 600,000 (+/- 5%)

- Total amount in words: United States Dollar six hundred thousand only
5. Payment:
Payment by irrevocable L/C to be opened not later than March 15, 2020, for 100% of
invoice value, in favor of the seller.
- Issuing bank: HSBC Bank, Japan.
- Notifying bank: Vietcombank, HCM City, Vietnam.
6. Delivery: Delivery of goods will be made CIF.
-

Time of delivery: Latest date of shipment will be March 16, 2020. July 30, 2020
Port of shipment: Osaka port Saigon Port
Port of destination: Saigon port Osaka Port
Partial shipment: allowed; The first shipment of 200 MT; Time of the first
shipment? Number of the second shipment
Transhipment: not allowed
Notice of shipment:
IF FCA
 The Buyer will advise the Seller the name of vessel not later than three
(03) days before shipping date by fax.
 Within 05 days from the shipment date the seller must fax to the buyer the
following documents: Invoice, Detailed Packing List, Bill of Lading,
Certificate of Insurance.
IF CIF


 The Seller will advise the Seller the name of vessel not later than three
(03) days before shipping date by fax.
 Within 05 days from the shipment date the seller must fax to the buyer the
following documents: Invoice, Detailed Packing List, Bill of Lading,
Certificate of Insurance.

7. Shipping documents: The buyer will present following documents:
−
Invoice (It should be “Commercial Invoice, lack the number of original of
Commercial Invoice)
 Commercial Invoice in three originals
−

Certificate of Quantity and Quality (lack the number of copies of Certificate)
 Certificate of Quantity and Quality in two copies

Packing list in two copies
−
Full set Bill of Lading marked "Freight collect at destination” “Freight prepaid”
made out to order of bank. HSBC Bank, Japan
−
Certificate of Insurance
−
Certificate of Origin form B (form B is not preferential for Vietnamese exports, lack
the number of copies)
 Certificate of Origin form AJ (of VJ) in two copies.
9. Insurance: will be covered by the Seller by All Risk Policy (Seller if CIF, Buyer if
FCA)
10. Force majeure: will notify when force majeure occurred.
(Missing Listing events, notification time)
Flood, fire, strike or other labor disturbances, acts or omissions of government or other
competent authorities, war declared or not, riot, civil commotion, sabotage, acts of god
which may be occurred shall be considered as force majeure.
The party that bears force majeure has to notify the other party of the force majeure
cases by fax/telex within five (05) days upon the force majeure taken place. Such force
majeure cases, if any, must be certified by the Chamber of Commerce of the country

concerned.
11. Arbitration: All disputes arising out of this contract or breach thereof which cannot be
settled amicably by the parties concerned shall be settled by Arbitration Center. The
award of this organization shall be final and binding upon both parties.
(Missing who shall bear arbitration costs)
In the event of arbitration, the party against whom the award is made shall bear the
entire costs of both parties to the action
12. General terms: This contract will come into force from the signing date.
Missing clear date, number of copies
- If any of the provisions in this contract is violated in part or whole, the
aggrieved party shall formally inform the other party in writing to seek
resolution
- This contract will come into force from the March 16, 2020
- This contract is made in four (04) copies in English. Each party keeps two (02)
copies of contract having equal value.
−

FOR THE SELLER

FOR THE BUYER


INTERNATIONAL SALE CONTRACT
Date: March 16, 2020
Party A:

ABC Trading Co, Ltd. (Vietnam)
Address:
Fax:
Represented by:

Hereinafter referred to the Seller

Party B:

NZ Co, Ltd. (Japan).
Address:
Fax:
Represented by:
Hereinafter referred to the Buyer
Both parties have agreed to sign the contract with the following terms and conditions:
1.
2.
3.
4.

Commodity:
Vietnam Robusta Coffee
Quality: According to the sample agreed by both parties shipped
Quantity: 500 MT more or less 5% at Buyer’s option
Price:
- Price to be understood CIF Saigon Port, Incoterms 2010
- Unit price: USD 1,200/MT
- Total amount: USD 600,000
- Say: United States Dollar six hundred thousand only
5. Packaging: The goods to be packed in the Manufacturer's Standard Export
6. Payment:
Payment by irrevocable L/C to be opened not later than March 15, 2020, for 100% of
invoice value, in favor of the seller.
- Issuing bank: HSBC Bank, Japan.
- Notifying bank: Vietcombank, HCM City, Vietnam.

7. Delivery: Delivery of goods will be made CIF.
-

Time of delivery: Latest date of shipment will be July 30, 2020
Port of shipment: Saigon Port
Port of destination: Osaka Port

-

Partial shipment: allowed; The first shipment of 200 MT; The second shipment: the
rest

-

Transhipment: not allowed
Notice of shipment:
 The Seller will advise the Seller the name of vessel not later than three
(03) days before shipping date by fax.
 Within 05 days from the shipment date the seller must fax to the buyer the
following documents: Invoice, Detailed Packing List, Bill of Lading,
Certificate of Insurance.
8. Shipping documents:
The buyer will present following documents:
−
Commercial Invoice in three originals
−
Certificate of Quantity and Quality in two copies
−
Full set Bill of Lading marked "Freight prepaid” made out to order of HSBC Bank,
Japan

−
Certificate of Insurance


Certificate of Origin form AJ (of VJ) in two copies
9. Insurance:
Insurance for the contracted goods will be covered by the Seller by All Risk Policy
10. Force majeure:
Flood, fire, strike or other labor disturbances, acts or omissions of government or other
competent authorities, war declared or not, riot, civil commotion, sabotage, acts of god
which may be occurred shall be considered as force majeure.
The party that bears force majeure has to notify the other party of the force majeure
cases by fax/telex within five (05) days upon the force majeure taken place. Such force
majeure cases, if any, must be certified by the Chamber of Commerce of the country
concerned.
11. Arbitration:
All disputes arising out of this contract or breach thereof which cannot be settled
amicably by the parties concerned shall be settled by the International Arbitration
Center in Vietnam. The award of this organization shall be final and binding upon both
parties.
In the event of arbitration, the party against whom the award is made shall bear the
entire costs of both parties to the action
12. General terms:
This contract will come into force from the signing date.
If any of the provisions in this contract is violated in part or whole, the aggrieved party
shall formally inform the other party in writing to seek resolution
This contract will come into force from the March 16, 2020
This contract is made in four (04) copies in English. Each party keeps two (02) copies
of contract having equal value.
−

FOR THE SELLER

FOR THE BUYER