international trade and payment outcome1

International Trade and PaymentsA4W435Candidate Name QI YueCandidate Class GTBCandidate ID GJ110113149Assessor’s name WANG YuliangDate 10th November, 20141st Record of Performance2nd Record of PerformanceDeclarationI hereby declare that this submission is my own work and that, to the best of my knowledge and belief, it contains no material previously published or written by another person or material which has to a substantial extent been accepted for the award of any other degree or diploma at any university or other institute of higher learning, except where due acknowledgment has been made in the text.原创性声明兹呈交的论文，是本人在导师指导下独立完成的研究成果，在论文写作过程中参考的其他个人或集体的研究成果均在文中以明确方式标明，本人依法享有和承担由此论文而产生的权利和责任。

Signature(签名): ________________Date（时间）: ________________Table of ContentsIntroduction (5)1.1 The introduction of the company (6)1.2 offer and acceptance (6)1.2.1 (6)1.2.2 (6)1.2.3 (6)1.2.4 (7)1.2.5 (7)1.3 Essential validity (7)1.3.1 (7)1.3.2 (7)1.3.3 (7)1.3.4 (8)1.3.5 (8)1.3.6 (8)1.3.7 (8)1.4 contracts in writing (8)1.5construction of contracts (8)1.5.1 (8)1.5.2 (8)1.5.3 (9)1.6 choice of law (9)1.7 conflict of law (9)1.7.1 (9)1.7.2 (9)1.8 the “Battle of the Forms” (9)1.9 the relationship of different contract documents for a given situation (9)3.1 Remedies for reach of contract (10)3.1.1 award damages (10)3.1.2 allow a claim on a quantum meruit (10)3.1.3 action for money had and received (10)3.1.4 award a decree of specific performance (10)3.2 Jurisdiction of courts (10)3.3 Arbitration and mediation (11)3.4 specific implement (11)3.5 recession (11)3.6 Damages (11)3.7 retention and lien (12)Conclusion (13)Bibliography (13)IntroductionThe first part of this report focuses on the law played a role in the import and export trade.Different countries and organizations is how to manage, export, risks inherent in dealing with foreign currency.Overview of buyer and seller, and intermediaries to perform procedures.I'll go through a specific company clarify the procedure to be followed by the import and export of goods, legally binding, and the impact of the law on contract authoring. Then, I will describe contract formation for a given situation in international trade which includes references to offer and acceptance; Essential validity; contracts in writing; construction of contracts; choice of law; conflict of law; the “Battle of the Forms”, explain the relationship of different contract documents for a given situation and assess remedies for breach of contract for a given situation in international trade with references to the jurisdiction of courts; arbitration and mediation; specific implement; recession; damages; retention and lien.1.1 The introduction of the company:Backgammon group was founded in 1995, committed to the growth of China's first multi-format retailer whose holdings subsidiary-BBK commercial chain stock limited liability company listed on the Shenzhen Stock Exchange on June 19, 2008, known as "private supermarket in China first."Company among the top 30 national chain hundred enterprises, belonging to China Construction Bank awarded "AAA credit customer unit".In early 2010, "step by step" trademark by the State administration for industry and commerce as "China famous trademark".Step by step group based in medium and small cities, with intensive type shop, multi-, trans-regional development model to provide retail services to consumers.2012 has supermarkets, Department stores, electronics, catering, large commercial real estate industry, and have the largest modern logistics center in South Hunan province retail trade.Chain stores have been around Hunan, Jiangxi all over the city, and by the end of 2010, many types of stores a total of 162, to provide the community with more than more than 50,000 jobs.2010 is expected to achieve sales of nearly 10 billion yuan, 2015 sales target of 30 billion yuan.1.2 offer and acceptance1.2.1Offer: “will you buy this A V for $70?”Acceptance:“yes,OK.”Common sense tells us that the acceptance must match the offer, or there has been no agreement between the parties on anything; e.g. If i say “will you buy this phone for $600?” and you reply “No, but I will give you $300”, there is clearly no contract.1.2.2offer+acceptance=contract offer1.2.3Offer:An offer must be distinguished from the following:a)A Declaration if Intention.b)A Supply of Information.An Invitation to Treat. This an invitation to make an offer. For example, when asked to bid the auctioneer was invited to treat, because the auctioneer asked for.It also decided that the price of the goods in the shop window display offers, do not provide their own invitations.Advertising is often invited to treat, rather than offering.An offer can be made to the World at large.The offer must be COMMUNICATED. This means that the order party must know of its existence.An offer can LAPSE. This means it ends after a certain time. It can lapse:a)By the death of either party before acceptance.b)By non-acceptance within any stated time.c)By non-acceptance within a reasonable time if no time is stated. What is a reasonabletime is a question depending on the facts of each individual case.An offer can be REJECTED. This can either be a simple rejection or an implied rejection. An offer can be REVOKED. Any time can before it is accepted. If revocation is sent by post it takes effect when it arrives.1.2.4 acceptance:Acceptance must be UNQUALIFIED. This means it must correspond with the offer. Acceptance must be COMMUNICATED to the other party. Mere mental acceptance be COMMUNICATED will not do.The rule that acceptance must be communicated is subject to certain exception:a)Where an offer to the world at large allows acceptance by doing an act rather communicating acceptance.b)An offeror can waive or dispense with the need for communication of acceptance by allowing acceptance by contract.c)Where the offer allows acceptance by post then the so called postal “rule”exception will apply and the acceptance will take effect when posted.1.2.5Acceptance SUBJECT TO CONTRACT means that the contract does not become binding until certain formalities have been concluded.TENDERS. There are three types of tender:a)A request for offers.b)A standing offer to supply goods.c)A promise by the buyer to buy all the goods they need from the supplier.1.3 Essential validity1.3.1There must be an OFFER AND ACCEPTANCE. Common sense tells us that the acceptance must match the offer, or there has been no agreement between the parties on anything.In these circumstance, there is a COUNTER OFFER. In case of rejection of prices being terminated.BBK received the offer cannot be returned at a later date, and try to accept the "quote".Acceptance must be perfectly suited to provide.Any attempt to accept a bid is not included in the original offer, accompanied by a counteroffer declined to provide amounts of new terms.1.3.2There must be a CONSIDERA TION. This may be defined as what each party puts into the contract. For example if I say “I’ll give you $5 for your BBK earphone,” you cannot sue me if I don’t. But if the promise is made in a specially drawn-up legal document called a DEED, consideration is not needed. This is an exception to the general rule.1.3.3Each party must have CAPICITY TO CONTRACT. This means that each party must have the right to enter into legally binding contracts.If they lack that right, it does not mean it is illegal or in any way illegal for them to conclude a contract.It simply means that BBK made any contract could not beenforced against them.1.3.4The parties must be AD IDEM. This means BBK must be making the same contract.1.3.5TRUE CONSENT. Must be intention to create legal relations.This means that parties to a legally binding contract.In a business situation. Presumably the intent, but BBK can prove the opposite.On the other hand, in the case of family and social arrangements.It was speculated that there was no intention to do so, unless the contrary is proved.There must be true AGREEMENT to the contract. This means there must be none of the following:a)Operative Mistakeb)Duressc)Misrepresentationd)Undue influence1.3.6ILLEGALITY. The law may refuse to give effect to a contract on the grounds that it involves the doing of a legal wrong.1.3.7CONTRACTS CONTRARY TO PUBLIC POLICY. Certain contracts are regarded as injurious to society and therefore void. One very important example is contracts which restrain trade.1.4 contracts in writingNot all contracts need to be in writing, but as an exception, certain contracts must be in writing.In addition, it is the practice of contracts involving large sums of money should have written for clarity of business life.In addition, the largest export transactions have a contract in writing.1.5construction of contracts1.5.1These are contracts which BBK has had prepared to cover all transactions of particular type. Each standard form contract is a documents on the front of which details are entered about the particular transaction in hand. On the back is a list of terms which apply to that contract and will apply to all similar contracts made by each customer. In theory customers agree to the terms, but they are usually in a “take it or leave Q”situation. Recognition that customers were at the mercy of big business through these contracts eventually forced the Government to pass the Unfair Contract Term Act and Supply of Goods Act. But these statutes do not apply to international sales, with the result that the exporter must read the buyer’s conditions very carefully, and know what the exporter is being asked to agree to.1.5.2BBK insists on their terms of sale, and it must be very careful not to accept their buyer’s terms by accident, which it will do if, it:(a)Send out the goods on receipt of the buyer’s order without countering it with BBK terms.(b)Allow the buyer to be the last person to send their standard form.1.5.3Accept an order from a new customer, or from one who has dealt with the seller on a very few occasions, over the phone without drawing attention to the fact that the terms exist.A seller should consider varying or dropping some of his conditions only if:The order he will gain is very substantial.His conditions are very harsh and he faces the threat of adverse publicity concerning them.1.6 choice of lawWe should note the following questions:to insist on dependentto seek equalitylegal chosen should be perfectselect the most closely connected with the contract lawFor instance, if China Minmetals Corporation wants to sign a contract for a a large enterprise. Then they must choose a sound legal, because in such a large contract, many problems will appear. Only select the full legal terms, we can gain the initiative in the event of a dispute.1.7 conflict of law1.7.1 Conflict of laws.This deals with what happens where two different legal system conflict, i.e. Where one system says one thing, and the other system says another about the case in hand.1.7.2 EU lawEU law takes four forms; The treaties, Regulations, Directives, and Decisions. The Treaties are primary sources of law whereas the other sources are secondary.1.8 the “Battle of the Forms”Another issue related to offer and accept is now known as a fighting form, where the Contracting Party is intended to take action on their own written standard terms.Sale of goods the BBK offers his (seller's) terms of the sale of goods, the buyer can accept his (buyer's) condition. If rigorous analysis is placed in such a way that when the BBK's terms shall constitute offer –there is no contract.But in many cases the parties have already begun to implement the differences before the contract came to light.1.9 the relationship of different contract documentsAccording to the schedule, order details have been completed basically allows guests to discuss and reach an agreement, invoice verification, and ask guests to sign the contract (some guests confirm that the proforma invoice is not only signed the contract, proforma invoice and contract to some degree is the same just more formal contracts).Freight forwarders can issued a bill of lading after shipment of the goods to you, get the Bill of lading and invoice packing list (send ballot boxes have many different kinds, why use, customs invoice, packing list, with guest payments and invoices, packing list).File and then send it to the customer.Need details of goods on the invoices, packing lists, bills oflading.Therefore, it is best to obtain bills of lading, boxes of invoices and other documents and consultations.BILL OF LADING(1)Bill of lading is a document of title.The Bill of BBK to take delivery, or to the Bank by virtue of this documentary, also in the cargo transfer prior to vessel's arrival at destination delivery.PACKING LIST(1)According to shipping order copy loading list is the carrier, will ship goods to be loaded according to the purpose and nature of the goods in Hong Kong categorized port according to the voyage, order customized shipping orders summary list, its content including the shipping order number, name, number, package, gross weight, estimated sizes and special cargo on requirements or considerations of shipping instructions, and more.Loading list is the mate of the ship stowage plans based primarily on prepared and tally tally for site personnel, Hong Kong's arrangements for barging in and out storehouse, as well as the carrier's mastery of business documents.3. remedies for breach of contract for a given situation in international trade3.1 Remedies for reach of contractHaving decided that one party is in breach of contract, the Court has to decide what to do about it. It will be recalled that the aim of the civil law is to COMPENSATE the plaintiff for their loss, not to punish the defendant for having broken the contract. The court can do the following:3.1.1 award damagesAs previously stated, damages are money compensation. When awarding damages the court has to bear in mind the following well-established principles.3.1.2 allow a claim on a quantum meruit“quantum meruit” means “as much as it is worth”. This is the claim which is put forward by a person seeking part-payment for the work they have done.3.1.3 action for money had and receivedNote this briefly. If one party pays money to other for which they receive ABSOLUTEL Y no consideration, then the payer of the money is entitled to its return under this action. The action applies more generally to ANY situation where one person comes into possession of another’s money.3.1.4 award a decree of specific performanceThis is an order of the court to guilty party to carry out the contract. If the guilty party refuses, they are in contempt, for which they can go to prison. English courts are reluctant to ward specific performance, as it is a remedy of equity, and they have an overall discretion to award it or not as they please.3.2 Jurisdiction of courts(2)National laws in order to determine jurisdiction is laid down a number of principles and criteria.In most countries is based on territorial and personal jurisdiction of these two criteria for determining the Court's jurisdiction.Where under the location of the person or thing or to exercise jurisdiction where the cause of action occurred is advocating territorial;According to the attribution of the nationality of the parties is advocated the exercise of jurisdiction ratione personae.Therefore, foreign-related civil cases, if parties to a lawsuit or its property, the subject-matter of the proceedings and the legalrelationship or legal dispute that has one of these is in the territory of a State or in the territory of the country, or if one party has the nationality, the country is likely to argue that it has jurisdiction on the case.The situation known as a connecting factor between the jurisdiction of the lawsuit and a State.Specifically, these factors can be summarized as follows:(1) a party (usually the defendant), or be on the jurisdiction of the State of residence;(2) the State of nationality of one or both parties under the jurisdiction;(3) the defendant has property in the jurisdiction;(4) the cause of action occurred in the jurisdiction of States;(5) the subject matter of the proceedings in the jurisdiction;(6) the express consent of the parties to the agreement or impliedly agreed to accept the jurisdiction of the State.3.3 Arbitration and mediationMediation: mediation, refers to third parties, other than the parties, based on the national laws, regulations and policies as well as social, to ease, persuading the parties to promote their mutual understanding, consultation and voluntary agreements, dispute resolution activity.Arbitration: one way to solve civil disputes.Civil disputes can usually be taken to court or arbitration bodies in two ways.Arbitration the disputing parties reach agreement before or after a dispute has arisen of the dispute, rule voluntary dispute to a third party, both parties are committed to the implementation of a dispute resolution method.3.4 specific implementThis is an order of the court to the BBK to carry out the contract. If the BBK refuses, they are in contempt, for which BBK can go to prison. English courts are reluctant to award specific performance, as it is a remedy of equity, and they have an overall discretion to award it or not as they please.3.5 recessionRefer to periods of economic stagnation or negative.In macro-economics is usually defined as "in the year, one of the country's gross domestic product (GDP) growth for two or more consecutive quarters fell."However, this definition has not been widely accepted around the world.Different countries have different definitions for recession, but the United States economic definition of two consecutive quarters of negative growth as the recession is widely used.In macro-economics is usually defined as "in the year, one of the country's gross domestic product (GDP) growth for two or more consecutive quarters fell."However, this definition has not been widely accepted around the world.For example, the United States National Bureau of economic research defines the recession more obscure "most economies in the field of economic activity fell for a few months."Keynes argued that the reduction in aggregate demand for goods is the main cause of economic recession.3.6 DamagesAs previously stated, damages are money compensation. When awarding damages the court has to bear in mind the following well-established principles.The aim of damages is purely to compensate. Thus, if a plaintiff has suffered no loss, he cannot claim damages. If a plaintiff ever were crazy enough to sue for this amount, the court could award costs against him.In contracts for the sale of gods, damages are the difference between the contract price and the current market prince of the goods.Liability to tax is taken into account when assessing damages. This following the principle that the court merely has to compensate the plaintiff. It follows that where the party getting damages would have had to pay tax on what he lost due to the breach then his loss should be assessed net of tax. To do otherwise would over-compensate him.The mere fact that damages are difficult to assess does not prevent the plaintiff from claiming them. The principle has been extended to cover damages for injury to the innocent party’s feelings, and his sense of disappointment and frustration as a result of the breach, but is limited to breach of contract the purpose of which was to provide enjoyment, relaxation or peace of mind.Damages can be recovered for pecuniary loss consequent on loss of commercial reputation caused by a breach of contract but not for loss of commercial reputation itself.No damages will be awarded if the damage is too REMOTE. This is called the rule of REMOTENESS OF DAMAGE. It is based on the principle that it is unfair to make the defendant compensate the plaintiff for ALL loss which follows from the defendant’s breach of contract. If this were done, the defendant’s liability would be never-ending.But if the defendant does know of a special profit and contracts on the basis that will be the loss if the contract is broken, the plaintiff can claim the special profit.The plaintiff has a duty to MITIGE HIS LOSS. This means he must make the loss as small as possible.As stated repeatedly, the aim of damages is compensation. When the parties make the contract, they might include a clause providing that if one of them breaks the contract, so much will paid by way of damages.If the plaintiff’s loss is MORE than the agreed damages,he is restricted to the damages agreed in the contract.If the plaintiffs loss is SMALLER than the sum agreed as damages then:If AT THE TIME THE CONTRACT W AS MADE the sum could be said to be a genuine pre-estimate of the loss, the plaintiff can recover the sum agreed in the contract.If at the time the contract was made, the money agreed as damages could in no way be said to be a genuine pre-estimate of the loss, but was being held over the head of one party.Exemplary Damages and Compensation Orders: We have said up to now that the aim of damages is compensation. This is true in nearly all cases.3.7 retention and lienIn the sale of title retention, due to the buyer's reasons when third party liens, against the effectiveness of retention of title, in my opinion, is a statutory lien on real right of pledge, has effect against title to the subject-matter and, therefore, third party liens should be effective against retention of title.ConclusionInternational trade and payment show us many advantages: regulation national market between supply and demand,to promote the full utilization of essential factors of production,comparative advantages, improve production efficiency is important is based on the comparative advantage of the countries involved in international trade and comparative advantage,improve production technology, optimize the industrial structure, increasing revenue, improving people's welfare level the development of international trade, for a Government to open up sources of revenue, strengthening economic ties and promote economic development.Bibliography(2010, December 8) from/info/maoyi/gjhwys/2010120825622.html(2014 May 22) from /zsyz/susong/201405/1869126.shtml。