国际贸易实务保险习题及答案

1．If we have to choose a Europe port by which no direct liner to stop or the trips are few, we should stipulate “ ______” in the contract.A.main ports in EuropeB.partial shipment allowedC.shipping adviceD.transshipment to be permitted2．By the clause warehouse to warehouse, the policy provides an overriding time limit of _____days after the completion of discharge of the insured goods from the seagoing vessel at the final port of discharge.A.30B.60C. 65D. 903. It is acceptable that the validity place of L/C is in ______A.importer‟s countryB.exporter‟s countryC. any third countryD. country instructed by importer4. If the breach of contract is non-fundamental, the injured party ____A. can only claim damages but cannot declare the contract voidedB. can only declare the contract voided but cannot claim damagesC. neither can claim damages nor can declare the contract voidedD. either can claim damages or can declare the contract voided5. Since the scope of cover of general additional risks is already included in, it is not necessary fro the goods to be insured by additional risks if it is insured by _____A.W.P.A.B. F.P.A.C.All RisksD.War Risk6. During the time limit of loading and unloading, in case the charterer finishes the work ofloading and unloading ahead of schedule, then the ship-owner shall pay certain amount of bonus to the charterer, this is so-called _______A. dispatch moneyB. demurrageC. paymentD. surcharges7. If the goods are contracted to be sold on ____ terms, then it is the _____‟s turn totake out the insurance and pay the premium.A. CFR … ExporterB. CIF … ImporterC. CFR … ShipperD. CIF … Exporter8. The shipper or consignor on B/L is normally theA. exporterB. importerC. shipping companyD. bank9. Since the opening bank takes the ____ responsibility for the payment, the opening bank should be carefully chosen.A. firstB. second C thirdD. fourth10. Perils of sea are those caused by ____A. calamities and accidentsB. fortuitous and accidentsC. accidentsD. calamities and fortuitouscase analysis:1. A contract was signed between the seller and the buyer for some kindof chemical product on the basis of FOB xxx port and the goods were foundto be in conformity with the requirement of the contract in respect of qualityby inspection before shipping. On arrival, it was found that part of the goodscoagulated (结成硬块) and the quality was not up to the standard set in thecontract after the buyer took delivery of the goods. The investigation showedthat it was caused by absorbing moisture in transit due to improper packing.So the buyer filed a claim against the seller for this but the seller pointed out that the goods conformed to the quality requirement before shipping and thedamage was caused during the transportation after the goods were loaded onboard at the port of shipment. The seller refused to make any compensationbecause such losses of or damages to the goods should be borne by the buyeraccording to international trade practices embodied in Inco-terms 2010.What is your opinion?2. Company A in Country xxx sent company B in country yyy an offer by telex for some kind of agricultural goods as follows:quantity: 1,000 metric tonsunit price: USD200/MT CIF San Franciscopacking: in new gunny bagspayment; by irrevocable letter of creditshipment time: within two months after receipt of relative L/CThis offer is good subject to your reply reaching us within 4 days.The following day after company A telexed this offer, it received a telex reply from company B reading “Accept your offer shipment immediately”. Company A did not respond to this. The next day company A received an irrevocable sight L/C issuedby Citi Bank stipulating “shipment within two months after receipt of relativeL/C” in r espect of shipment time. In view of the very booming international market for this product, company A refused to sell the goods as offered before and returned the L/C accordingly. But company B insisted that contract was formed betweeneach other so company A had obligation to deliver the goods as offered. What isyour opinion based on the stipulations in CISG (United NationsConvention on the International Sale of Goods 1980) if CISG is applicableto this case? Is there a contract between the two parties? (10 points)3. Company A in China exported some goods on the basis of CIF xxx port and took out insurance for 110% of invoice value against FPA as per the relevant Ocean Marine Cargo Clauses of the People‟s Insurance Company of China dated Jan. 1, 1981. The ship started sailing at the beginning of July. On July 13, the carrying vessel suffered a thunderstorm and it caused some loss of part of the goods valued at UDS 2,000.00. Days later, it struck upon the rocks in transit and caused partial loss of the goods valued at USD10,000.00. Will the insurance company be responsible forcompensation of both the losses caused? (10 points)1.Advise Tiresias Ltd (…Tiresias‟) on the following transaction.Tiresias sold a quantity of sultanas to Stetson Ltd (…Stetson‟) on terms …FOB, Liverpool, shipment September‟. Under the terms of the contract, Stetson was obliged to nominate a vessel. On 20th September, Stetson nominated the Wasteland, which was already in dock. The following day, Tiresias began to load the sultanas, but did not have sufficient to fulfil the contract and so waited for a further supply to arrive. The loading was completed just before midnight on 30th September. The vessel sailed the following day. Stetson claims Tiresias failed to fulfil its duty to deliver the goods as stipulated in the contract.2. Company A received an irrevocable L/C issued by bank ABC advised and confirmed by bank DEF. This company shipped the goods according to the requirements of the L/C and was going to present the documents for negotiation but received a notice from the confirming bank stating that the issuing bank had gone bankrupt and it would not pay but it could claim payment from the buyer on behalf of company A. What advice will you give company A about his legal position in this matter?3. Company A exported one batch of goods on the basis of payment by D/P at 90 days sight. Company A presented the draft accompanied by the shipping documents required by the relative contract to the remitting bank who forwarded all the documents to the collecting bank in the country of importer. The collecting bank presented all the documents to the importer and the importer accepted the draft presented as required. When the goods arrived at the destination port, the importer borrowed the shipping documents from the collecting bank by providing Trust Receipt in order to take delivery of the goods in time before the maturity of the draft. When the draft matured, the remitting bank was notified by the collecting bank that it was impossible for the importer to pay the accepted draft as it had gone bankrupt. What should company A do? Why?4. Company A cabled an offer to company B abroad on June 15th subject to the reply reaching on 20th inst. Company B submitted the cable of acceptance in the morning on 19th but it reached company A as late as 21st due to delay in transit. Company A did not make any response regarding the acceptance late. On June 26th, Company A sold the goods to another client at a higher price. On June 27th, company A received a cable from company B indicating that L/C had been established and requiring company A to ship the goods promptly. Company A replied company B immediately: “ your acceptance was late, no contract existed.” Company B insis ted that they delivered the cable on 19th and it did not know the fact that the cable was late anyway. In view of this, company B insisted that contract was formed and company A should fulfill its obligation to deliver the goods as offered. What is your opinion if CISG applies here?5. The following contract is entered into between company ABC in China and company XYZ in the USA: “1000 tons of "grade A" dried cod (鳕鱼), USD 1.500.000/MT, CIF Los Angeles INCOTERMS 2010, as per sample submitted. Payment to be by irrevocable letter of credit confirmed by Bank of China opened by October 3rd 2010 for a period of 2 weeks, and to be made against documents evidencing the fulfilment of his CIF obligations, and a certificate of inspection stating the cod to be of grade A quality.”The letter of credit facility is duly opened and the relevant documents being specified to Bank of China and company A proceeds to perform his obligations under the contract.Company B hears rumours that the consignment shipped will not be grade A but grade C, and that the certificate of inspection presented will be a forgery, and instructs both the issuing and confirming banks not to pay against it.Company A presents BOC with the following documents: shipped on board bill of lading for 1000 tons of grade A dried cod in apparent good order and condition; an invoice for the same goods; an insurance policy taken on Institute Cargo Clause C terms; and a certificate of inspection. BOC pays particular attention to the certificateof inspection but is unable to find anything wrong with it as it appears to be in order and as described in their mandate (instructions for opening the credit). BOC pays company A.During the voyage the ship is in a collision and part of her cargo is wet, whilst another portion is deliberately thrown overboard by the crew in order to reduce her weight.When the consignment arrives it is found to be 200 tons short (i.e. there are only 800 tons) and 100 tons of the consignment are damaged by water, and the consignment is found not to be up to sample and not of grade A qualityPlease answer the following questions:(1).Assume that CISG is to apply to the sale of goods transaction. Answer the following:(a) Discuss company A's obligations under the contract he has entered into.(b) Advise company B as to any rights he may have with respect to the seller, carrier, insurance company, bank and any other relevant parties. Inform him of any further details you may require.(2). What are the functions of the bill of lading in international trade? Mention brieflyhow these facilitate trade. ( to facilitate means to benefit, or make easier)(3).(a)What is a condition, a warranty in English law? What is the meaning of"fundamental breach" under the United Nations Convention on the International Sale of Goods 1980 (CISG)?(b) What are inherent vice; general average; seaworthiness?(c)What is an insurable interest? What is the duty of disclosure in relation tocontracts of insurance?(d)What is meant by: the autonomy of a letter of credit, and the doctrine of strictcompliance?(4).What are the requirements of formation of contract under the United NationsConvention on the International Sale of Goods 1980 (CISG)?。