1. Trần Hồng Trúc Phương 2. Lâm Quốc Hào
3. Nguyễn Dương Ánh Tuyết 4. Thái Minh Khuê 5. Triệu Ngọc Trân 6. Đặng Kim Khánh 7. Trần Nguyễn Thảo Vy 8. Quách Tú Linh A. Contracting parties
- It lacks the sale contract number, date and place B. Main articles Article 1: Commodity
- It lacks the tchnical and commercial name, name of manufacture or origin country Article 2: Quality
- It lacks the mentioning of the name of authorized agencies issuing Standard of
products, issuing date, and desciption the quality of goods, describing in details, trade mark technical documents Article 3: Quantity
- It is wrong at “buyer or seller”, only choose one person’s option (depends on the
person who pay for the main freight) Article 4: Price
- It is wrong at “ CFR or DAP”, only use one term or if using more than 2 terms it
should be attached with percentage
- It lacks unit price and total amount, the version of Incoterm, the name of port of destination Article 5: Payment
- Wrong at “L/C or D/P”; only use 1 payment method or if use 2 payment methods, it
should be attached with percentage.
- Lack the currency of payment and time of payment.
- Wrong at the name of Issuing bank and Notifying bank.
- Wrong at “Proforma Invoice”, it should be “Commercial invoice”, lack the number
of copies and origin of Commercial Invoice.
- Lack the type of Bill of Lading.
- Wrong at “the buyer”, “of notifying bank”. - Lack paking list.
- Lack the number of copies and origin of Certificate of Quality and Quantity.
- Wrong at the form AK of Certificate of Origin, lack the number of copies. A rticle 6 : Delivery
- The name of port of shipment is wrong.
- Lack the name port of discharge, and transhipment, total shipment.
- Wrong at the quantity of cargo (Wrong at The first shipment: 500 MT; The second shipment: 1,500MT)
- Wrong at “The Seller will advise the buyer”, “the Buyer must fax to the Seller” A rticle 7: Arbitration - Lack the applicable law.
- Lack the place of arbitration and who shall bear arbitration costs. A rticle 8: Insurance
- In the contract, don’t mention about who shall pay the insurance cost. SALES CONTRACT Date: April 20, 2017
Party A: ABC Trading Co, Ltd. (Vietnam) Address: Fax: Represented by:
Hereinafter referred to the Seller
Party B: NZ Co, Ltd. (Korea). 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: Vietnam Yellowfin Tuna
2. QUALITY: According to the sample agreed by both parties (Sample No )
3. QUANTITY:2,000 MT more or less 10% at the Seller’s option. Gross weight: Net weight: 4. PRICE:
Unit price: USD 200/MT CPT Saigon port, Incoterms 2010
Total amount: USD 400,000 +/-10%
In letter four hundred thousand dollars more or less by ten percent 5. PAYMENT:
Payment by irrevocable L/C at sight for 100% of invoice value, in favor of the Seller.
Issuing bank: HSBC Bank, Seoul, South Korea
Notifying bank: Vietcombank, HCM city
The following documents are presented for negotiation:
- Commercial Invoice in three originals and three copies.
- Full set Bill of Lading marked "Freight to pay at destination”
made out to order of Issuing Bank.
- Certificate of Quality and Quantity in two copies - Packing List in two copies
- Certificate of Origin form AK in two copies. 6. DELIVERY:
Time of delivery: not later than April 13th 2018
Delivery of goods will be made CPT.
Port of Loading: Saigon Port, Vietnam. Port of discharge: Seoul Port, South Korea. Partial shipment: allowed The first shipment: 500 MT The second shipment: 1500 MT
The Buyer will advise the seller the name of vessel not later than three (03) days before shipping date by fax. 7. 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. 8.INSURANCE:
Insurance for the contracted goods will be covered by The Buyer by All Risk Policy
9.FORCE MAJEURE: occurred shall be considered.
10.EFFECTIVE DATE: This contract will come into force from April 3rd, 2018
This contract is made in two (02) copies in English. Each party keeps one (01) copies of contract having equal value.
FOR THE SELLER FOR THE BUYER
INTERNATIONAL SALE CONTRACT No. ... Date … BETWEEN:
ABC Trading Co, Ltd. (Vietnam) Address: Tel : Fax: Represented by:
Hereinafter referred to the Seller AND: NZ Co, Ltd. (Japan). Address: Tell: Fax: Represented by:
Hereinafter referred to the Buyer
Both parties have agreed to sign the contract with the following terms and conditions
1. COMMODITY: Pangasius hypophthalmus
2. QUALITY: According to the sample agreed by both parties (Sample No. …)
3. QUANTITY: 1,500 MT more or less 10% according to the Seller’s option. Gross weight: Net weight: 4. PACKING AND MARKS:
The goods to be packed in the export standard packing appropriate for transport, loading, unloading and transshipment. 5. PRICE:
Unit price: USD 400/MT FOB Saigon port, Incoterms 2010
Total amount: USD 600,000 +/-10% USD
In letter: six hundred thousand USD, more or less than 10% 6. PAYMENT:
Payment by irrevocable L/C at sight for 100% of invoice value, in favor of the Seller.
Issuing bank: Tokyo Commercial Bank, Japan
Notifying bank: Vietcombank, HCM city
The seller will present following documents:
− Commercial Invoice in 3 original and 3 copies.
– Certificate of Quality and Quantity in three originals in two copies, issued by
OMICS/SGS at loading port before shipment
– Bill of Lading marked Freight to collect at destination made out to order of Issuing bank.
– Certificate of Origin form AJ in issued by VCCI –Packing List in two copies 7. DELIVERY: Not later than 30/3/2018. Term of shipment: FOB
Port of loading: Saigon Port, Vietnam
Port of discharge: Tokyo port, Japan Partial shipment: allowed.
The first shipment: 500 MT; The second shipment: 1,000MT.
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. 8. INSPECTION:
The Buyer will inspect the goods before shipment. In the event of any physical damages
to the packing or shortage of goods in comparison with Certificate of quantity and
quality, B/ L. The Buyer shall appoint an Independent International Survey Company to
make the survey report on the field. The survey report shall be an evidence for making
claims. The Seller must be responsible for the replacement of shortage and damaged
goods correctly. Survey charges are covered by the Buyer.
If the goods conform with the shipping documents, and are in good condition, the Buyer
shall inform the Seller by facsimile within seven (07) working days after the receipt of goods. 9. 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. 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. EFFECTIVE DATE:
The contract will come into force from 20/03/2018. 12. GENERAL TERMS:
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 is made in two (02) copies in English. Each party keeps one (01) copy of contract having equal value. FOR THE SELLER FOR THE BUYER