General conditions in export contracts, Marketing Research

Assignment Help:

GENERAL CONDITIONS IN EXPORT CONTRACTS : Export contract refers to the subject matter of the contract. In addition, the contracts also mention the rights of the party concerned against the party which may have failed to honour his contractual obligations, except under some valid reasons. The movement of goods in export transactions involve risk and costs. The goods may get lost, stolen or damaged during transit. The contract inputs specify who will bear this risk and upto what point. Similarly, physical movement of goods will mean costs. Whose responsibility wills it be to bear these costs ? These issues are to be resolved through contracts.

Most exporters have developed standard general conditions of exports to be incorporated in an export contract It simplifies the day-to-day export operations. It also reduces the possibility of missing out some important aspect, each time a contract is drafted. The complexity of the general conditions depends upon what is being exported. If the product is standard, such as garments, handicraft or light engineering goods, a simple set of general conditions will suffice. On the other hand, a contract for the sale of petrochemicals plant may run into hundreds of pages. For a majority of products being exported from India, the following aspects should be covered under the general conditions:

1. The parties

2. The description of the products

3. Quality

4. Price per unit

5. Total value

6. Currency

7. Tax and Charges

8. Packing

9. Marking and Labelling

10. Mode of Transport

11. Delivery : Place and Schedule

12. Insurance

13. Inspection

14. Documentation

15. Mode of Payment

16. Credit period, if any

17. Warranties

18. Passing of Risk

19. Passing of property

20. Availability non-availability of Export-Import Licences

21. Force Majeure

22. Settlement of Disputes

23. Proper Law of the Contract

24. Jurisdiction

Indian Council of Arbitration which has been set up by the Ministry of Commerce. Government of India has developed a Model Contract form for the benefit of Indian exported. This model is appropriate for most small and medium enterprises exporting standard products.


Related Discussions:- General conditions in export contracts

Nivea case study answer plz, Ask question #Minimum Nivea (www.nivea.com) is...

Ask question #Minimum Nivea (www.nivea.com) is Beiersdorf’s (www.beiersdorf.com) largest brand in terms of sales, product and geographical reach. The brand is a market leader in a

Determine the primary editing problem, Determine the primary editing proble...

Determine the primary editing problem One of the primary editing problem concerns with faking of an interview. Such fake interviews are difficult to spot till they come to edit

Moving averge, inn moving average method, we need data of atleast a) three ...

inn moving average method, we need data of atleast a) three years b) four Years c) five years d) six years

Name five types of general insurance, ? OVERSEAS INSURANCE ? LIVE STOCK ...

? OVERSEAS INSURANCE ? LIVE STOCK INSURANCE ? GLASS INSURANCE ? FIDELITY INSURANCE ? KEY MAN INSURANCE

What is neutral alternative in dichotomous, When selecting use of a neutral...

When selecting use of a neutral alternative in dichotomous questions what considerations must be kept in mind? Answer

Assignment, how should i write my assignment

how should i write my assignment

Competing demands for resources, Competing demands for resources- Even thou...

Competing demands for resources- Even though the above student would like to buy a pickup truck on her sixteenth birthday she would rather have a computer moreover has money for on

Uses or importance of marketing research to economy, Uses or importance to ...

Uses or importance to economy: 1.       Production: suitable production, functions are adopted to meet the market demand. In the absence of marketing research, production wil

Case analysis, Why was Cucina Fresca pasta successful? How would you compar...

Why was Cucina Fresca pasta successful? How would you compare the pizza opportunity to that for pasta? How would you compare the actual product development process for each?

Administration of the act, Administration of the Act : The exchange contro...

Administration of the Act : The exchange control policy is determined in India by the Ministry of Finance Government of India on the basis of The Foreign Exchange Regulation Act,

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd