Contract and Documents Documentary Collections

Choose a partner or do it yourself.

Part I Class Work/Homework20 marks

You can choose a partner or do it alone. Decide about one product to export or import. You have to prove your negotiation with a Contract. Prepare a contract.

1.PREPARE A CONTRACT

You already prepared a Contract in class as part of your midterm. We had a class review. I posted an example under Assignments TAB. Just look and DO A BETTER JOB than me. (these times requires even more professionalism)

You can design these documents as per your wish, you can follow my examples and use the Templates posted in your Blackboard.

Use the template attached to this exercise to CREATE your Shipping specifications (when the goods were shipped, from which port........se my example)

Format the documents properly and use colours for your answers.

Part II Homework50 marks

Pretend that the goods were shipped as per your contract and shipping and commercial information

You have to prepare the following documents:

2.Ocean Bill of Lading

3.Commercial Invoice

4.Draft ( Bill of Exchange)

5.One more document of your choice ( ex. Package/Weight List, Certificate of Origin)

6.Collection Letter Foreign Bills

All documents should be prepared based on your Contact and Shipping and Commercial Information. Use logic please.

SHIPPING AND COMMERCIAL INFORMATION

EXPORTER REFERENCE NO:

PACKING:

DIMENSIONS:

GROSS WEIGHT:

MARKINGS:

IN LAND TRANSPORTATION:

SHIPPED VIA OCEAN, VESSEL:

ON BOARD DATE:

BKG # (booking nr.)

B/L:

S/S LINE:

FORWARDING AGENT IN Romania:

PORT OF DISCHARGE:

PLACE OF DELIVERY:

CONTAINER:

EXPORTER'S AGENT IN TORONTO:

EXPORT MANAGER for:

Part III Homework10 marks

Using the data from your contract, and the documents prepared, explain in point form how the exporter will receive the money. Record the collection steps.