Page 64 - eBook: EXIM for Beginner

COMMERCIAL documents:

d. Sales Contract

• Agreement between buyer and seller, stipulating each and

every details of the transaction. Legally binding document.

It reduces the probabilities of disputes & differences as it

fixes the role and responsibilities of each party.

Following standard terms and conditions are covered in an

Export Sales contract: -

• Name & address of both the parties.

• Contract Number & Date, place

• Description of goods, quantity and quantity

• Product Standards and Technical Specifications of goods.

• Inspection/certification

• Total Value of Contract

• Terms of delivery (F.O.B./C.F.R./C.I.F. etc.),

• Period of Delivery/Shipment, part shipment, Trans-

shipment.

• Terms of payment:- L/C, D/A, D/P, advance payment,

Amount/Mode & Currency