Unit 2 Description of Commodities.docx
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Unit 2 Description of Commodities.docx
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Unit2DescriptionofCommodities
Unit2DescriptionofCommodities
AnAmericancompanyApurchased200dozenoftoycarsfromanexportcompanyBinDalian.Inreality,Bshipped198dozen.BthoughtthataccordingtothestipulationsinUCP600,5%moreorlessoftheshipmentwasallowed.ButArefusedtoaccepttheproductsbecauseofshortageofcommodities.DidAhavetherighttorefusethetoycars?
Why?
Toavoidpossibledisputes,everyeffortshouldbemadetodescribethegoodsinthesalescontractexactlyasthesellerandthebuyerintendthemtobe.Thedescriptionofcommodityconsistsofnameofcommodity,quantityofcommodity,qualityofcommodityandpacking.Ininternationaltrade,asdifferentcountriesmayhavedifferentinterpretationsaboutthesamename,quality,quantityorpacking,carefulstipulationinthesalescontractisveryimportant.
DescriptionofCommodities
NameofCommodity
Usually,thepartiestothecontractjustspecifythenameoftheproductunderthesubject“NameofCommodity”.Asthebasisofatransaction,nameofcommodityconcernstherightsandobligationsofboththesellerandthebuyer.Ifthegoodsdeliveredbythesellerarenotinaccordancewiththeagreednameofcommodity,thebuyerhastherighttolodgeaclaim,refusethegoodsorevencancelthecontract.Therefore,asamainconditionofsale,thenameofcommodityshouldbeclearlystipulated.
QualityofCommodity
Thequalityofcommodityreferstotheoutwardappearanceandtheessentialqualityofthegoods,suchasshape,structure,color,flavorsaswellaschemicalcomposition,physicalandmechanicalproperty,biologicalfeature,etc.Ininternationaltransactions,therearedifferentwaysofshowingquality.
Salebysample
Asampleisaproduct,oftentakenoutfromawholelotofconsignmentorspecially
designedandprocessed.Samplescouldbeofferedbytheseller,i.e.,salebyseller’ssample.Inthiscase,thesellershallsupplyarepresentativesampleandatthesametimekeepaduplicatesamplewhichshallbeinthesamequalityasoronthewholeasthestandardsample.Thesampledispatchedandtheduplicatesamplekeptshallhavethesamearticlenumbersoastomakeitconvenientfordeliveryandverificationwhenhandlingqualitydisputesorfuturetransactions.Samplescouldalsobeofferedbythebuyer,i.e.,salebybuyer’ssample.
Thereisanothersamplecalled“countersample”.Whenthesampleisofferedbythebuyer,thesellermaynotbeverysurewhetherhecouldsupplythegoodsinconformitywithitornot.Inordertotaketheinitiative,thesellermayreproducethebuyer’ssample,andsenditbacktothebuyerasatypesample.Afterthebuyerconfirmsthissample,salebybuyer’ssampleischangedintosalebytheseller’scountersample.
Itshouldbenotedthatsometimesthesellermaysendasampletothepotentialbuyerbeforethecontractisconcluded.Thiskindofsampleisthereferencesampleandoftenlabeled“forreferenceonly”.Suchasampleisnotthebasisofdeliverybytheseller.However,thepartiesmayagreetodeliverthegoodsinconformitywithitinthecontract,andthenitwillbethebasisofdelivery.
Salebyactualquality
Inthiscase,thebuyerorhisagentexaminesthegoodsatseller’splaceatfirst.Aftertheyconcludeadeal,thesellershalldeliverthegoodsaccordingtothegoodsexamined.
Salebydescription
Itmainlyincludesthefollowingtypes.
(1)Salebyspecifications
Thespecificationreferstocertainmainindicatorswhichindicatethequalityofthegoods,suchascomposition,content,purity,size,length,etc.Itisoftenexpressedbyindexes.Forexample,thespecificationofironoremaybeexpressedas“thecontentofiron>80%”.
(2)Salebygrade
Thegradereferstotheclassificationsofthegoodsandisindicatedbywords,numbersorsymbols.Forexample,thefresheggsweighed55-60gareclassifiedintoGradeA,50-55gGradeB,45-50gGradeC.However,thegradeofthesameproductmaybedifferentindifferentcountries.Itisnecessarytomakesurethatthegradeofthecommodityisunderstoodidenticallybythepartiesiftheywanttosellbygrade.
(3)Salebystandard
Thestandardreferstothespecificationsorgradeswhicharestipulatedandannouncedbygovernmentorthechambersofcommerce,etc.QualityofcommoditycanbedescribedinthecontractbytheinternationalstandardlikeISO,orthenationalstandardeitheroftheexporter’sortheimporter’scountrywhichisagreeduponbybothparties.
Inthetradeofagriculturalproducts,FAQ(FairAverageQuality)isoftenemployed.FAQmeansaquantityofaproductthatisofferednotonaparticularqualityspecificationbutonthebasisthatisequaltotheaveragequalityofthecurrentgrouporrecentshipment.Whenusingthiswaytoindicatethequality,specificationsarestillnecessaryunlessthetransactionisdonebetweenregulartradingpartners.
Forthetradingofwoodandaquaticproducts,GMQ(GoodMerchantableQuality)isemployedtoindicatethequality.GMQreferstothesoundqualitythatisfreefromdefectsandisgoodenoughtosatisfythepurposeforwhichthebuyerintendstousethegoodsorforwhichthesellerintendsthattheyshouldbeused.GMQisusuallynotsupplementedwithspecificationsandwhendisputesonqualityarise,thesellerswillhavetobeinvitedtomakethearbitration.
(4)Salebybrandortrademark
Brandisthename,term,symbol,designoracombinationofthesetoidentifyaproduct,
whiletrademarkincludesallthosewords,symbols,ormarksthatarelegallyregisteredforusebyasinglecompany.Someproductsmayhavebeensoldintheglobalmarketformanyyearsandenjoyhighreputation,andtheirqualitycouldberepresentedbytheirbrandnamesortrademarks,forexample,Coca-Cola.
(5)Salebynameoforigin
Somecountriesandplacesarefamousforcertainproductsandthequalityoftheseproductsmaybedescribedbytheirorigincountriesorplaces,forexample,Chineseporcelain,Jinhuabam,etc.However,inordertoavoidpossibledisputes,itisadvisableforthepartiestousethespecificationstogetherwithbrandnameandotherwaysinthecontract.
(6)Salebydescriptionandillustration
Thequalityofsomecommoditiessuchastechnologicalinstruments,electricmachines,etc.cannotbesimplyindicatedbyqualityindexes,insteaditisquitenecessarytoexplainindetailthestructure,material,performanceaswellasmethodofoperation.Ifnecessary,pictures,photos,etc.mustalsobeprovided.
Sometimes,itisimportanttoadda“QualityTolerance”or“QualityLatitude”clauseinthecontract.Tolerancemeansthepermissiblerangewithinwhichthequalitysuppliedbythesellermaybeeithersuperiororinferiortothequalitystipulatedinthecontract.Qualitytolerancemaybethatagreeduponbetweenthesellerandthebuyerbeforehand,orthatgenerallyrecognizedbytradeassociations.Itisusuallyusedinthetradeofagriculturalproducts,industrialrawmaterialsorsomelightindustrialproducts.
Qualitylatitudemeansthatthequalityindexesofthegoodsdeliveredbythesellermaybecontrolledflexiblywithincertainlatitude.Therearethreewaystostipulatequalitylatitude.
(1)Tostipulateacertainscope,forexample,thewidthofthecottonclothis47/48inches.
(2)Tostipulatemoreorlessclause,forexample,astogreyduck’sdown,wemay
stipulateduck’sdowncontent18%(1%moreorless).
(3)Tostipulate“max”or“min”,forexample,moisture(max.)15%.
QuantityofCommodity
Asdifferentproductshavedifferentcharacteristics,differentwaysofmeasurementmaybeused.Waysofmeasurementincludeweight,length,area,volumeandcapacity.
Unitsofmeasurement
WeightUnits:
kilogram,ton,metricton,gram,pound,ounce,longton,shortton,etc.
LengthUnits:
meter,kilometer,centimeter,yard,foot,mile,etc.
AreaUnits:
squaremeter,squareyard,squarefoot,squareinch,etc.
VolumeUnits:
cubicmeter,cubicyards,cubicfoot,cubicinch,etc.
CapacityUnits:
liter,gallon,bushel,etc.
NumberUnits:
piece,package,pair,set,dozen,gross,ream,roll,head,case,bale,barrel,bag,etc.
Moreorlessclause
Itisverydifficulttomeasureaccuratelysomeagriculturalandmineralproductslikecorn,wheat,coal,etc.,thena“moreorlessclause”,alsocalled“plusorminusclause”,maybeusedtoallowsometoleranceinthequantity.Thewordingofsuchaclausemightbe“500M/T,5%moreorlessatseller’soption”whichmeansthatthesellermaychoosetodeliverbetween475to525M/T.
AccordingtoUniformCustomsandPracticeforDocumentaryCredit,ifthereisanywordlike“about”,“approximately”inthequantityclauseintheletterofcredit,itshouldbeinterpretedthat10%moreorlessinquantityisallowed;andunlessthereisastipulationthatthequantityofthegoodsmustnotbeexceededorreduced,orthegoodsaretobecalculatedbynumberofpackage,5%moreorlessofthegoodsinquantityshouldbeaccepted.
Packing
Factorsinfluencingpacking
Packingshouldbedesignedaccordingtotheneedofthecargo.Bulkcargoesrequirelittlepacking.Generalmerchandisesrequireadequatepackingofvarioustypes.Factorsinrelationtotransportsuchasthenatureoftransit,loadingandunloadingfacilitiesandtransportunitshouldbeconsidered.Thedimensionandtheweightlimitmayalsoinfluencetheshape,sizeandweightofthecargopacking.Packingshouldcomplywithcustomsorstatutoryrequirements.Forexample,insomecountries,strawisanunacceptableformofpackingduetotheriskofinsects.Packingmustmeetinsuranceacceptanceconditions,andmakethehandlingaseasyaspossible.Itshouldalso
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- Unit Description of Commodities