GROUP ASSIGNMENT CHAPTER 5

Analyzing the errors and missing of the following terms and conditions,
and correct the international sale contract?

INTERNATIONAL SALE CONTRACT

Date: September 16, 2020

Party A: ABC Trading Co, Ltd. (Vietnam)

Hereinafter referred to the Seller

Party B: NZ Co, Ltd. (Japan).

Hereinafter referred to the Buyer
Both parties have agreed to sign the contract with the following terms and conditions:

1. Commodity: Coffee
2. Quality: As shipment in last month
3. Quantity: 500 T more or less 5%
4. Price:
- Price to be understood FCA or CFR
- Unit price: USD 1,200/T
- Total amount: USD 600,000

5. Payment:
Payment by irrevocable L/C to be opened not later than September 16, 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 CFR.

- Time of delivery: Latest date of shipment will be September 16, 2020.
- Port of shipment: Osaka port
- Port of destination: Saigon port
- Partial shipment: allowed; The first shipment of 200 MT;
- Transhipment: not allowed
- Notice of shipment:
ü The Buyer will advise the Seller the name of vessel not later than three
(03) days before shipping date by fax.
ü 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
− Certificate of Quantity and Quality
 − Bill of Lading marked "Freight collect at destination” made out to order of
bank.
− Certificate of Insurance
− Certificate of Origin form D
9. Insurance: will be covered by the Seller by All Risk Policy
10. Force majeure: will notify when force majeure occurred.
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.
12. General terms: This contract will come into force from the signing date.

FOR THE SELLER FOR THE BUYER