国贸课后练习答案全 周瑞琪

acceptance 承兑actual total loss 实际全损ad valorem 从价运费additional 附属费advanced B/L 预签提单air transportation 空运air waybill 空运单ante-dated B/L 倒签提单anticipatory credit 预支信用证back-to-back credit 背对背信用证basic freight 基本运费beneficiary 受益人bill of exchange 汇票charter party 租船契约charter transportation 租船运输charter(tramp) 不定期货船check 支票claimant 索赔人clean B/L 清洁提单clean bill 光票clean collection 光票托收clean credit 光票信用证combined certificate 联合凭证confirmed L/C 保兑信用证constructive total loss 推定全损containerization 集装箱运输contribution 分摊deferred payment 延期付款demurrage 滞期费discount 折扣，贴现documentary bill 跟单汇票documentary letter of credit 跟单信用证endorsement 背书exclusions 除外责任external risks 外来风险extraneous risks 外来风险factoring 保理业务forfeiting 包买票据fortuitous accidents 意外事故franchise 免赔率freight rates 运费率freight ton 运费吨general average 共同海损general risks 一般外来风险indemnity 赔偿insurable interest 可保利益insurance certificate 保险凭证insurance claim 保险索赔insurance cover(age) 保险险别insurance policy 保险单insurance premium 保险费insurance rate 保险费率irrevocable L/C 不可撤销信用证lay day 装卸天数liner/gross terms 班轮条件liners transportation 班轮运输measurement ton 尺码吨natural calamity 自然灾害open policy 预约保单optional port 选择港order B/L 指示提单partial loss 部分损失partial shipments 分批装运particular average 单独海损paying instrument 支付工具payment by installments 分期付款payment in advance 预付payment term 支付方式perils of the sea 海上风险port of destination 目的港port of shipment 装运港presentation 提示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 600URC 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 51. In international cargo transportation, the most widely adopted bill of lading is D. order bill oflading.2. In DES contracts, a reasonable order for time of shipment and time of delivery is B. June 1 andJuly 1.3. A bill of lading is C. ante-dated B/L when its date of shipment is indicated earlier than the actualtime 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 dateof 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 andcomparatively fixed freight rates.9. An order B/L with blank endorsement is a B/L showing B. neither the name of consignee northe name of transferee.10. A(n) A. straight B/L refers to one that is made out to a designated consignee.Chapter 61. The main document adopted by the insured to make claims against the insurer is D. insurancedocument.2. Perils of the sea, such as vessel being stranded or grounded covered in an insurance policy areone kind of B. fortuitous accidents.3. According to “Ocean Marine Cargo Clause of the People’s Insurance Company of China”, thecoverage 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 waterin 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 andMalaysia is C. combined certificate.6.7. Risks such as “failure to delivery risk” or “rejection risk” fall within the category of B. specialextraneous risks.8. According to “Ocean Marine Cargo Clause of the People’s Insurance Company of China”, thebasic 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 destinationstipulated 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.1. If there is no specific provision, the draft under a letter of credit should draw on the B. issuingbank.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 thecargo 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. aconfirmed 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 securityto the buyer but not the seller.9. B. packing loan is a L/C based financing which will provide the exporter funds before the goodsare produced.10. If the exporter finds out mistakes on a received L/C, he should contact the B. importer at the firstplace.Chapter 5T 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 6F 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 byChapter 7F 1. If the remittance is m ade 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 51. 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.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 61. 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 voyage3. 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 coverage1)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 ofPacking Damage5. 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 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 71. After Bank X advised exporter Y of the L/C, the shipment was made. When the cargo was onthe 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 caseof 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 revocablecredit be transferable?According to UCP600, if an L/C does not indicate whether it is irrevocable or not, it will beconsidered as irrevocable. And a transferable L/C must be irrevocable.3. After a gullible importer paid Bank C against the seemingly correct shipping documents, hewent 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 Wushipped 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 draftdrawn 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 withoutpresenting 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. Forexample, 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 businessconfidentiality.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 51. The price quoted by an exporter was “USD38 per case FOB Liverpool”. The importerrequested 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>WM will be used as freight basis for freight calculation.Freight per case=M*basic freight*(1+BAF rate)=0.06*100*(1+20%)=USD 7.2Total freight per case=7.2*(1+10%)=USD 7.92CFR=FOB+Freight=38+7.92=USD 45.92The CFR price would be USD 45.92 per case CFR Liverpool2. There is one consignment of 10 cartons of leather shoes, measurement of each carton is50*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>WFreight=USD 1.3/kg*20.83*10 cartons=USD 270.79The air freight is USD 270.793. Suppose: Company A exports 1000 cases of Commodity Y to London. The volume per caseis 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*1000cases=24M3W > M, “W” is the freight basisTotal 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 in50 cartons, each weighing 15kgs, with measurement as 50 x 40 x 30cm. The air freight rateis 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 freightAir freight=Total Quantity× Basic Freight Rate=50 cartons×15kg×USD2.00/kg =USD 15005. 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 Weather Working Days of 24 Hours=8*7- 4(rainy hours)=52 hours=2 61 days Weather Working Days of 24 Consecutive Hours=7*24-4=164 hours=6 65 days Chapter 611. 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 533The 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 1100Insurance premium=CIF insurance amount*insurance rate=1100*0.4%=USD 44The 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 9890Insurance premium=CIF-CFR=10 000-9890=GBP 110The 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 15000Total 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 59GA Contribution by Party B=60 000 x 0.295% = CNY 177GA Contribution by the Carrier=5 000 000x0.295% =CNY 1475015. 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 302.5Chapter 51. 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。