Question: A U . S . exporter signed a walnut contract with an English importer under CIF London term, subject to INCOTERMS 2 0 2 0

A U.S. exporter signed a walnut contract with an English importer under CIF London term, subject to INCOTERMS2020. In the contract, it also says: the L/C issued by the importers bank must arrive before the end of September 2021, and the exporter must guarantee that the walnut will arrive at London port before the end of October 2021. If the products do not arrive on time, the importer will cancel the contract. Even the payment has been made the exporter must return the payment.
Question: What are your comments about this contract?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Can I get help please Exercise 8-30 (Algo) General ledger exercise; inventory transactions [LO8-1, 8-2, 8-3, 8-4, 8-5, 8-6, 8-7, 88] On January 1, 2024, Displays incorporated had the following...

Q:

A U . S . exporter signed a walnut contract with an English importer under CIF London term, subject to INCOTERMS 2 0 2 0 . In the contract, it also says: the L / C issued by the importer s bank must...

Q:

1. A US importer used the following trade terms when signed contracts with exporter in other countries. Please analyze each term: right or wrong, if wrong, please explain briefly why it is wrong. (9...

Q:

3. The cargo ship Maersk Gibraltar flies a Hong Kong flag, and the shipment of goods departed from a mainland Chinese Port. Which version (if any) of the Hague Visby Rules would you expect to apply...

Q:

Can any experts provide me the correct answers for these questions Care must be taken to ensure that the agent is responsible to the principal only for the end result of its activities, not for the...

Q:

chapter 6 \" International Management It was once said that the sun never set on the British Empire. Today, the sun does set on the British Empire, but not on the scores of global empires, including...

Q:

Utilizing the text book,pages 264-278 In paragraph (1) Identify one country that has a current and excessive Trade Surplus. Identify the products that are responsible for the Trade Surplus, you may...

Q:

Utilizing the text book,pages 264-278. In paragraph (1) Identify one country that has a current and excessive Trade Surplus. Identify the products that are responsible for the Trade Surplus, you may...

Q:

Please, Do short brief ( Just few notes ) (Inntro, body, conclu), comprising the most important takeaways of this short text. Thank you very much. 30 PART TWO: INTERNATIONAL SALES, CREDITS AND THE...

Q:

Do short brief ( intro, body, conclu ), ( Just Few Notes ), comprisinng the most important takeaways of this text. Thank you. 30 PART TWO: INTERNATIONAL SALES, CREDITS AND THE COMMERCIAL TRANSACTION...

Q:

Please, Do short brief ( Just few notes ) (Inntro, body, conclu), comprising the most important takeaways of this short text. Thank you. 30 PART TWO: INTERNATIONAL SALES, CREDITS AND THE COMMERCIAL...

Q:

Find a point on the surface z = 2x2 + 3y2 where the tangent plane is parallel to the plane 8x - 3y - z = 0.

Q:

ABOUT BSG STRATEGY GAME: 1. In general (do not reveal your team's specific strategy), how should you balance your marketing and sales by geography? What factors must you consider? How will you...

Q:

CHAPTER 3 : Leverage Analysis 1 1 . Which of the following statements are incorrect: a ) In order to maximize value, a company should increase its tolerance of risk b ) Value is inversely related to...

Q:

Oman Transformers & Switchgear LLC (OT) is the pioneer manufacturers of transformers in Oman. The company manufactures transformers in a batch of twenty-five units. The company hired the specialists...