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Flashcards in ch 11 trade documentation Deck (37)
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1

basic principle of trade and documentation

control and liability

2

most common reason of documentation

fulfillment regulations

3

documents are often associated with insurance or bank policies that limit a party's ....... in an international shipment

manage risk

4

there are things that dont necessarily need to be written down, but internatinoal transactions are complex and work with different languages and cultures. documents serve as a.......

common understanding

5

the term documentation implies ...... , maintaining official records of an organizations activities. some is legally required, but much is the organizations choice

record keeping

6

The 4 types of documents

transportation, banking, commercial, government

7

documents used for the physical movement of the cargo

transportation documents

8

documents used for the financing of shipment

banking documents

9

documnets used for the purchase of goods

commercial documents

10

filfill government regulations. there are 2 main roles of documentation, business related and law-related. this document serves the needs of a business and the government

government documents

11

refers to the sale of goods in which ownership on the paper documents is more important than the physical possession of the goods

documentary sale

12

do not conflict with different computer systems. easier to see which is the official copy.

paper documents

13

can be trasnported anywhere in the computer world in seconds, an infinite number of copies can be made, also in seconds. not always clear which is the official record

electronic documents

14

used to discourage imports and increase their costs, sometimes to the point where trade is no longer profitable

non-tariff barrier (NTB)

15

on of the roles of documentation was to control risk. requireing proper documentation can control theft and the trafficking of stolen goods

cargo security

16

a concern in all aspects of documentation when communicating with the government and other companies. some info is a matter of public record, semi-private, while others can be very sensitive

confidentiality

17

sets the standards for most of the documents we are concerned with. applies when there is a commercial sale of goods between two parties in different countries

UN Convention on Contracts for the International Sale of Goods (CISG)

18

the basic law governing sales and contracts of sale, established in 1951

Uniform Commercial Code (UCC)

19

the primary international organization that seeks uniformity in trade law, including documentation

UN Commission of International Trade Law (UNCITRAL)

20

the 4 parts to a legally binding contract

1. Offer and acceptance
2. Consideration
3. Legal Capacity
4. Not be for Illegal Purposes

21

states that what is offered must exactly be what is accepted. any changes may be considered a counteroffer

mirror image rule

22

you cannot claim a breach because of a little problem

fundamental breach

23

a buyer can simply no accept a shipment if there is a breach, but this may only be done after the seller has been notified

right of avoidence

24

seller can fix the problem and the right to additional time to perform

right to remedy

25

a contract bw buyer and seller, which includes the agreed terms of sale

Purchase Order

26

The most important document in the entire process this is a document of title, a receipt of goods, and a contract of carriage

Bill of Lading

27

this does not convey title. it is used more for air cargo, but ocean carriers are using it more

Waybill

28

a document listing the cargo and its important characterisitcs

Invoice

29

a certificate, typically provided by the government of the eexporter, certifying the nationality of the cargo

Certificate of Origin

30

commonly used in food shipments to certify that it is gygenic

Sanitary Certificate