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1、International Trade PracticesText Book: International Trade Practices （Second Edition)国际贸易实务国际贸易实务（英文版）（第二版）（英文版）（第二版）帅建林编著对外经济贸易大学出版社2007年9月，第一版2012年9月，第二版ContentsPart1OverviewPart2TermsofInternationalTradePart3InternationalTradeProcedurePart4TradeFormsPart 1 OverviewBird-eye View, or Tiger-eye Vie
2、w ?Chapter 1 Introduction to International TradeChapter 2 International Trade Policy Chapter 3 Trade Bloc and Trade BlockChapter 4 WTO :A Navigation Guide Chapter1 Introduction to International Trade 1.1WhyDoCountriesTrade?a)TheOriginofInternationalTradeb)ResourceReasonsc)EconomicReasonsd)Preference
3、Reasonse)OtherReasons1.2HowIsInternationalTradeMeasured?a)BalanceofPaymentsb)FDIWhat is the origin of international trade?The story of the caveman takes place on an international basis.Why trade with other nations? AdvantagesInternationaltradeleadstomoreefficientandincreasedworldproduction,thusallow
4、ingcountries(andindividuals)toconsumealargerandmorediversebundleofgoods.Anationpossessinglimitednaturalresourcesisabletoproduceandconsumemorethanitotherwisecould.theestablishmentofinternationaltradeexpandsthenumberofpotentialmarketsinwhichacountrycansellitsgoods.Theincreasedinternationaldemandforgoo
5、dstranslatesintogreaterproductionandmoreextensiveuseofrawmaterialsandlabor,whichinturnleadstogrowthindomesticemployment.Competitionfrominternationaltradecanalsoforcedomesticfirmstobecomemoreefficientthroughmodernizationandinnovation.Why Trade With Other Nations?ImportanceSomenationsexportonlytoexpan
6、dtheirdomesticmarketortoaideconomicallydepressedsectorswithinthehomeeconomy.Othernationsdependontradeforalargepartoftheirnationalincomeandtosupplygoodsfordomesticconsumption.Inrecentyearsforeigntradehasalsobeenviewedasameanstopromotegrowthwithinanationseconomy.Developingcountriesandinternationalorga
7、nizationshaveincreasinglyemphasizedsuchtrade.Chapter 1.2 How Is International Trade MeasuredHowIsInternationalTradeMeasureda)BalanceofTradeb)BalanceofPaymentsc)FDIlBalanceofTradeThebalanceoftradeisanationsrelationshipofexportstoimports.favorablebalanceoftrade=tradesurplusunfavorablebalanceoftrade=tr
8、adedeficitlBalanceofPaymentsThebalanceofpayment=thedifferencebetweenmoneycomingintoacountryandmoneygoingoutofthecountry+moneyflowscomingintoorleavingacountryfromotherfactors.favorablebalanceofpaymentsVSunfavorablebalanceofpaymentslAboutFDIThe Balance of Paymentrelationshipbetweentheamountofmoneyanat
9、ionspendsabroadandtheincomeitreceivesfromothernations.ThebalanceofpaymentsisofficiallyknownastheStatementofInternationalTransactionsandincludestwomainaccounts:First,thecurrentaccount,tracksactivityinmerchandisetradeexportingandimporting;incomeearnedfrominvestmentsabroad;moneypaidtoforeigninvestors;a
10、ndtransactionsonwhichthegovernmentexpectsnoreturns.Second,thecapitalaccount,tracksbothloansgiventoforeignersandloansreceivedbycitizens.Becausethebalanceofpaymentsisonereflectionofanationsfinancialstabilityintheworldmarket,theInternationalMonetaryFund(IMF)usestheseaccountstomakedecisionssuchasqualify
11、ingacountryforaloan.TheIMFalsoprovidestheinformationtoitsmemberssothattheycanmakeinformeddecisionsaboutinvestmentsandtrade.Thebalanceofpaymentscanbeusedasanindicatorofanationseconomicstability.Changesinthebalanceofpaymentscanaffecttheexchangerateofacountryscurrency.Forexample,adeficitinmerchandisetr
12、ademeansthatthecurrencyofthatnationisfloodingtheworldeconomy,sinceitisbeingusedtobuytheimportsthatcausethedeficit.Unlessgovernmentcontrolsareused,thevalueofthecurrencywillmostlikelydepreciate.FDIForeignDirectInvestment(FDI)isthebuyingofpermanentpropertyandbusinessinforeignnations.Itcantaketheformofe
13、itherdirectorportfolioinvestment.Directinvestmentoccurswhenacquisitionofequityinterestinaforeigncompanyismade.Thisinterestmayvarybetweenasmallpercentageandacontrollinginterestofacompanysequity.(Ownershipofmorethan50%isnotnecessaryinsecuringacontrollinginterestinacompany).Controllinginterestinaforeig
14、ncompanyrepresentsahighlevelofcommitmenttoforeignoperationsandisusuallyaccompaniedbypersonnelandtechnologytransfersabroad.Theappealofdirectinvestmentlieswiththeaccesstomarketandresourcesaswellasrationalizationofglobalproductionaffordedbysuchanarrangement.Incontrast,portfolioorindirectinvestments,are
15、chieflymotivatedbyshort-tomedium-termprofits.Theymayincludeequityinvestmentsthatdonotinvolveanactiveroleinmanagementorbondsandotherdebtinstrumentsissuedbyforeigncompaniesandgovernments.Asfinancialmarketsaroundtheworldbecomeincreasinglyintegratedinrecentyears,internationalportfolioinvestmentshavebeco
16、mepopularwithinvestorsasavehicleofdiversificationfurtherhasteningtheprocessofinternationalfinancialintegration.MoreThe Reasons for FDIThedeclineofbarrierstoforeignownershipinmostcountriesoftheworld.LiberalizationoftradeandfinancialmarketsDeclineintransportationandcommunicationcoststhatresultedfromte
17、chnologicalbreakthroughs.The Reactions to FDIFDIhashistoricallybeencontroversial,especiallyinthereceivingcountryspointofview.RadicalviewsMiddle-groundviewsPositiveviewsRadicalviews:(ThishastodowiththeexperienceofmanyformercoloniesoftheWesternindustrialcountries.)Contractualtermsbasedonunequalbargain
18、ingsituations.Createdependenceoftheemergingcountryonthemarketknowledgeandtechnologyoftheforeigninvestor.nMiddle-groundviews:welcomethetechnologyandskillstransferbutwatchfultoavoidsomeofthecosts.(e.g.thelossofinfluenceasdecisionsaremadeabroadregardingthedismissalofworkersortheclosureofaplant.)nPositi
19、veviews:encouragesfreetrade;transfersnewtechnologies;servesasachannelforlocalfirmstointernationalizeindirectly;generatespositivespilloverofideas,includingopeningofnewchannelsofinformationflows;increasescompetition,henceinnovationandproductivity.Chapter 2 International Trade PolicyImportTariffNon-tar
20、iffBarrierstoImportsExportTaxesExportSubsidiesImport TariffProtective Tariff isdesignedtoraisetheretailpriceoftheimportedproducts sothatdomesticgoodssothatdomesticgoodswillbemorecompetitiveandforeignbusinesswillbediscouragedfromshippingcertaingoodsintothecountry.Arevenue tariffisdesignedtoraisemoney
21、forthegovernmentTariff DutiesSpecific Duties:specificdutiesareleviedattherateofsomuchperunit,pound,kiloorgallon.Ad valorem Duties:advaloremdutiesareleviedonthebasisoftheproductsvalue.Compound Duties:compounddutiesareacombinationofspecificandadvolumeduties.Non-tariff Barriers to ImportsANon-tariffbar
22、rierstoimportsisanypolicyusedbythegovernmenttoreduceimports,otherthantariffonimports.Limitingthequantityofimports.Increasingthecostofgettingimportsintothemarket.Creatinguncertaintyabouttheconditionunderwhichimportswillbepermitted.ImportQuotasVoluntaryExportRestraint(VER)OtherNon-tariffBarriersProduc
23、tsStandardsDomesticContentRequirementGovernmentProcurementPoliciesRed-TapeBarriersDomesticContentRequirements:adomesticcontentrequirementmandatesthataproductproducedandsoldinacountrymusthaveaspecifiedamountofdomesticproductivevalue,intheformofwagepaidtolocalworkersormaterialandcomponentsproducedwith
24、inthecountry.GovernmentProcurementPolicies:agovernmentprocurementpoliciesrequiresthataspecifiedpercentageofpurchasesbyagovernmentbemadefromdomesticfirmsratherthanforeigncountries.Red-TapeBarriersrefertocostlyadministrativeproceduresrequiredfortheimportationofforeigngoods.Export TaxesAnexport taxisat
25、axcollectedonexportedgoods.Aswithtariffs,exporttaxescanbesetonaspecificoranadvalorembasis.Exports Subsidies Export subsidiesarepaymentmadebythegovernmenttoencouragetheexportofspecifiedproducts.DomesticsupplyDomesticdemandPricefloorsFloorpriceShortfallofsupplyEEPDEIPChapter 3 Trade Bloc and Trade Blo
26、ck3.1TradeBloc3.2TradeBlockTrade BlocFourMajorTradeBlocs:theEU,NAFTA,MERCOSUR,andASEANTypesofbloc:Free-tradearea,Customsunion,CommonMarket,EconomicunionFeaturesoftradeblocRolesandFunctionofTradeBlocsToestablishsomeformofregionalcontrolregardingtradeinterestofnationswithinthatregionToestablishtariffs
27、thatprotectintra-regionaltradeform“outside”forcesTopromoteSouth-toSouthtradeTopromoteeconomicandtechnicalcooperationamongdevelopingcountriesMoreTrade Block Tradeblocks,alsocalledtradeembargoes,isaformofeconomicsanctions.Itisaprohibitionuponexportsorimports,eitherwithrespecttospecificproductsorspecif
28、iccountries.WaystoPerformTradeBlockLongHistoryofTradeBlockEffectsofTradeBlockChapter 4 WTO A Navigation Guide WhatisWTO?HowDoesItWork?WTO:Objectives,FunctionsandBasicPrinciplesWTOAgreement:ANavigationGuide4.1WhatisWTO?BriefIntroductionWTOandGATTWWW.WTO.ORG4.2HowWTOworks?Decision-makingprocessTheSecr
29、etariatMembership4.3Objectives,FunctionsandBasicPrinciplesObjectives:raisingstandardsoflivingandincomes,ensuringfullemployment,expandingproductionandtrade,andoptimaluseoftheworldsresourcesFunctionstofacilitatetheimplementation,administrationandoperation of the Uruguay Round legal instrumentsandofany
30、newagreementsthatmaybenegotiatedinthefuture.toprovideaforumforfurthernegotiationsamongmember countries on matters covered by theagreementsaswellasonnewissuesfallingwithinitsmandate.toberesponsibleforthesettlementofdifferencesanddisputesamongitsmembercountries.toberesponsibleforcarryingoutperiodicrev
31、iewsofthetradepoliciesofitsmembercountries.Basic PrinciplesMFNNationalTreatmentTransparencyPredictableandGrowingAccesstoMarketsPromotingfaircompetitionPart 2 Terms of International Trade Chapter 5 International Trade Terms Chapter 6 Terms of Commodity Chapter 7 International Cargo Transport Chapter
32、8 Cargo Insurance Chapter 9 Terms of Price Chapter 10 International Payments Chapter 11 Claims, Force Majeure and ArbitrationAbout Part 2Two critical elements of any international sales contract are the Terms of Sale and the Terms of Payment. Terms of Sale define the obligations, risks, and costs of
33、 seller and buyer for the delivery of goods. For example: at what point in the delivery process do obligations, risks, and costs shift from the seller to the buyer? As a seller, where do you want them to shift to the buyer? What is a more preferable Term of Sale in light of the Term of Payment that
34、has been negotiated? If the Term of Sale is FCA or FOB, who pays a terminal operator for storage of cargo if the buyers carrier fails to load the goods as scheduled? As Chapter 5 presents Terms of Sale we will answer these and many more questions for you. We will define and explain the thirteen Term
35、s of Sale found in INCOTERMS 2010, what they mean and how best to apply them to real-life situations.(to be continued)vInternational sales transactions present to both buyers and sellers elements of risk not found in domestic sales. Let Part 2 in our course take you through the advantages, risks and
36、 motivations of buyers and sellers in negotiating and agreeing upon a particular payment term. We will go step-by-step through the Letter of Credit and Documentary Collections process to provide you an understanding of how these processes work and what the pitfalls are. We will review key elements o
37、f UCP 600 and URC 522, the conventions governing how banks will handle L/Cs and Collections. Case StudyvCIF or Not ?vA Chinese exporter exported 500M/T walnut to a Canadian importer on the basis of US$ 4,800 per M/T CIF Quebec. As it is a seasonal commodity, the importer required and both parties ag
38、reed to stipulate the following in the contract.vL/C Issuing Date: to be issued by the end of September.vShipment: Not late than Oct.31, partial shipment and transshipment prohibited.vArrival Date: Not late than Nov.30. Otherwise, the buyer is entitled to refuse the goods.vTerms of Payment: Draft at
39、 90T/D under L/C.vDue to the bad weather, the liner arrived at Quebec on Dec.5. Consequently, the importer refused to take the delivery of the cargo unless 20% discount of the total value of the goods was made for the loss incurred to the importer. After painful negotiations, the transaction came to
40、 end with the exporters loss of $360,000 by the discount of 15% of the total value of the goods.Chapter 5 International Trade Termsv5.1 GeneralizationvRole of International Trade TermsvInternational Trade UsagesvWarsaw-Oxford Rules 1932vRevised American Foreign Trade Definitions 1941vInternational C
41、ommercial TermsvIncoterms 2010vs.Incoterms 2000vDifference between Incoterms 2000and Incoterms 20105.2 A Guide to Incoterms 2010 EXW Ex Works(named place)FCA Free Carrier (named place)FAS Free Alongside ship (named port of shipment)FOBFree on Board (named port of shipment)CFRCost and Freight (named
42、port of destination)CIFCost, Insurance and Freight (named port of destination)CPTCarriage Paid To (named port of destination)CIPCost, Insurance Paid To (named port of destination)DATDelivered At Terminal (named terminal at port or place of destination)DATtermmeansthatthesellerdeliverswhenthegoods,on
43、ceunloaded fromthearrivingmeansoftransport,areplacedatthedisposalofthebuyeratanamedterminalatthenamedportorplaceofdestination.“Terminal” includesanyplace,whethercoveredornot,suchasaquay,warehouse,containeryardorroad,railoraircargoterminal.Thesellerbearsallrisksinvolvedinbringingthegoodstoandunloadin
44、gthemattheterminalatthenamedportorplaceofdestination.Thepartiesarewelladvisedtospecifyasclearlyaspossibletheterminaland,ifpossible,aspecificpointwithintheterminalattheagreedportorplaceofdestination,astheriskstothatpointarefortheaccountoftheseller.Thesellerisadvisedtoprocureacontractofcarriagethatmat
45、chesthischoiceprecisely.Moreover,ifthepartiesintendthesellertobeartherisksandcostsinvolvedintransportingandhandlingthegoodsfromtheterminaltoanotherplace,thentheDAPorDDPrulesshouldbeused.Example: DAT, Terminal XYZ, Charles de Gaulle Airport, Paris, France, Incoterms 2010DAPDelivered at Place (named p
46、lace of destination)vDAPtermmeansthatthesellerdeliverswhenthegoodsareplacedatthedisposalofthebuyeronthearrivingmeansoftransportreadyforunloadingatthenamedplaceofdestination.Thesellerbearsallrisksinvolvedinbringingthegoodstothenamedplace.Thepartiesarewelladvisedtospecifyasclearlyaspossiblethepointwit
47、hintheagreedplaceofdestination,astheriskstothatpointarefortheaccountoftheseller.Thesellerisadvisedtoprocurecontractsofcarriagethatmatchthischoiceprecisely.Ifthesellerincurscostsunderitscontractofcarriagerelatedtounloadingattheplaceofdestination,thesellerisnotentitledtorecoversuchcostsfromthebuyerunl
48、essotherwiseagreedbetweentheparties.vExample: DAP, Customs Warehouse, Port of Stockholm, Sweden, Incoterms 2010DDPDelivered Duty Paid (named place of destination)5.4 Incoterms and ContractsSinceIncotermsarestandarddefinitions,theyareusedincontractstoreduceconfusionandpreventtradershavingdifficultyun
49、derstandingtheimportrequirementsandshippingpracticeusedinothercountries.Mostcontractsfrom1January2010refertoIncoterms2010,unlessthesellerandthebuyeragreetouseanearlierversion.Contractsdatedbefore1January2010arestillblindedunderIncoterms2000.Chapter 6 Terms of Commodity v6.1 Name of Commodityv6.2 Qua
50、lity of Commodityv6.3 Quantity of Commodityv6.4 Packing of Commodityv6.5 Commodity Inspection and Customs FormalitiesLearning ObjectivesvTo understand the importance of clauses of quality, quantity, packing and price in a sales contractvTo learn the methods of expressing the quality of goods in a sa
51、les contractvTo learn different weight calculation methodsvTo learn the marks on transport packing 6.1 Name of CommodityvSpecifythenameofproductunder“NameofCommodity”thatisamaincomponentoftheDescription of GoodsvThedeliverymustbeinaccordancewiththeagreednameinthecontractvThenameofproductmustbespecif
52、ic,widelyaccepted,agreedbybothpartiesandclearlystipulatedinthecontractvTosomeproducts,theselectionofthenameofproductsshouldbeverycautious,eitherreducingcustomsduties,orsavingfreight.ve.g.CementvPortlandCement425# 6.2 Quality of CommodityvImportancevAccordingtoUN Convention,thesellermustdeliverthegoo
53、dsasrequiredbythecontract.Otherwise,thebuyermayclaimdamages,requiredeliveryofsubstitutegoods,orrequirethesellertoremedy,orevenrejectthegoodsandcancelthecontract.vTechnicalRequirementsvFamiliarizeourselveswiththeinternationalstandard,suchasISO9000series.vExportsmustbeupgradedwithtimesvWaystodescribet
54、hequalityofgoods:vSalesbySamplevSalesbySpecification,GradeorStandardvSalesbyBrandorTrademarkvSalesbyDescription,DrawingorDiagramQuality Clauses in ContractvFlexiblewording/stipulation:“thequalityofthegoodsshippedtobeequal/similartothesample”vFlexiblequalityrangevRangevQualityTolerance,alongwiththefl
55、exibleprice,e.g.“Soybean,iftheoilcontentofthegoodsshippedis1%higher,thepricewillbeaccordinglyincreasedby2%” 6.3 Quantity of commodityvUnitofMeasurementvMetricSystem:kg.,M.,sq.m.l.,M/T,ounce,etcvInternationalSystemofUnits(SI)vBritishSystem:Pound,Yard,etc.vU.S.SystemvCalculationWeightvByGrossWeightvBy
56、NetWeight,/GrossforNetvByConditionedWeightvByaveragetarevBycustomarytarevBycomputedtarevMoreorLessClause 6.4 Packing of CommodityvOuterPackingvTypesofPackingvInnerPackingvMarkingofGoodsvShippingMarkvAdditionalMarkvIndicative/WarningMarkvNeutralPackingvTheoriginoftheproductisnotshownontheinnerandoute
57、rpackagesattherequestofthebuyer.vPurpose:Promotion;Clearoffthetradebarrierinsomeregions,and/orfortheEntrepotTrade(转口贸易)vTwoKinds:vNeutralPackingwithDesignatedBrand(定牌)vNeutralPackingwithoutDesignatedBrand6.5 Commodity Inspection and Customs Formalities WhereandwheninspectionundergoesInspectionandre-
58、inspectionLandingQuality/Weight(Quantity)asFinalInspectionandRe-inspectionCommodityInspectionCertificateInspectionCertificateofQualityInspectionCertificateofWeightInspectionCertificateofQuantityMoreCustomsFormalitiesforExportsandImportsSpecificDutiesAdValoremDutiesCompoundDutiesChapter 7 Internation
59、al Cargo Transport7.1ModesofTransport7.2ClauseofShipment7.3MajorShippingDocumentsChapter 7 International Cargo TransportLearningObjectivesTo learn the modes of transport, exp. OceantransportTounderstandthenatureoflinertransportTounderstandthemainfeaturesofB/LTounderstandthevariouskindsofB/LTounderst
60、andthecontentsoftransport clause 7.1 Modes of TransportOceanCarriage(OceanShipping/MarineTransportation)ShipmentwithinafixedtimeperiodConferenceLineVesselsNon-conferenceLineVesselsTrampShipsAirTransportRailTransportRoadTransportInlandWaterwayTransportContainerTransportInternationalMulti-modalTranspo
61、rtAirtransportservices:ScheduledairlinesCharteredcarriersConsolidatedconsignmentsContainerTransportContainerizationistodistributemerchandiseinaunitizedform,suitedfortheocean,railandmultimodaltransport.FeaturesofContainerTransportOfferdoortodoorserviceSavelabors,loadingandunloadingchargesLowriskLessp
62、ackingFasterSeveralOptionsforContainerCalculation 7.2 Clause of ShipmentTimeofShipmentPortofShipmentandPortofDestinationShippingAdvicePartialShipmentandTransshipmentLaytime,DemurrageandDispatchDaysofRunningDaysWeatherWorkingDaysof24HoursWeatherWorkingDaysof24ConsecutiveHours 7.3 Major Shipping Docum
63、entsBillofLadingOtherDocuments:ConsignmentNote(forRailandRoad)AirWaybillCombinedTransportDocumentsBill of LadingConceptMajorShippingDocuments:B/L,varioustypesBill of Lading : ConceptWhatisit?AreceiptforcargoAcontracttodelivercargobetweencarrierandshipperOwnershipofcargoKeyelementsinB/L;studyaspecime
64、nClausesinB/LStipulationsfromaB/LissuedbyCOSCO:Shippedonboardthevesselnamedaboveinapparentgoodorderandcondition(unlessotherwiseindicated)thegoodsorpackagesspecifiedhereinandtobedischargedattheabovementionedportofdischargeorasneartheretoasthevesselmaysafelygetandbealwaysafloat.Theweight,measure,marks
65、,numbers,quality,contentsandvalue,beingparticularsfurnishedbytheshipperarenotcheckedbytheCarrieronloading.Theshipper,ConsigneeandtheHolderofthisBillofLadingherebyexpresslyacceptandagreetoallprinted,writtenorstampedprovisions,exceptionsandconditionsofthisBillofLading,includingthoseonthebackhereof.Inw
66、itnesswhereof,theCarrierorhisAgenthassignedBillsofLadingallofthistenoranddate,oneofwhichbeingaccomplished,theotherstostandvoid.Major Shipping Documents: B/L, various typesShipped(OnBoard)B/LandReceivedforShipmentB/LCleanB/LanduncleanB/LStraight,blankandorderB/LDirect,transshipment,throughB/LLinerB/L
67、,containerB/L,andcombinedtransportB/LLongformB/LandshortformB/LOnDeckB/L,staleB/L,ante-datedB/LandadvancedB/LB/L, various typesAsperthecargowhetheronboardornot:OnboardB/L,ShippedB/LReceivedforshipmentB/LAsperthecargowhetherinapparentgoodorderorconditionornot:CleanB/LUncleanB/LAsperhowtheidentificati
68、onofconsigneeismade:StraightB/LBlankB/LOrderB/LAsperthemodesoftransport:Direct,transshipment,throughB/LAsperthebusinessactivitybythecarrier:LinerB/LCharterPartyB/LContainerB/LPrintthephraseas“containerized”onthecommonB/LCombinedTransportB/LSuchitemsas“ContainerNumber”and“SealNumber”areaddedtothecomm
69、onB/LSuchwordingas“CombinedTransportB/LAcceptable”orthealikeshouldbeprinted,writteninL/CAsperthecontentsofstipulationsintheB/L:LongformB/LShortformB/LOtherkinds:OnDeckB/LStaleB/LAir Waybill (AWB)Aconsignmentnoteusedforthecarriageofgoodsbyair.SpecialRemarks:SharethecommonfeatureoftheseafreightB/L.But
70、,itisNon-negotiable.Because:AWBisofastraight B/Lforitsshortenedvoyagebyair.Theexporterretainshis“rightofdisposal”ofthegoodsafterdispatchingthegoodstotheairlinercarrierandbeforeitsarrivalattheconsignee.Difference: Through B/L & CTDTransportModes:ThroughB/Lisalwaysconnectedwithsea,usedforanytransportc
71、ombinedwithsea.CTDcanbeappliedtoatleasttwomodesoftransport,oranykindofcombinedtransport.Carrier:ThroughB/Linvolvesseveralcarriers.CTDinvolvesonlyonecarrierwhoisacombinedtransportoperator.Chapter 8 Cargo InsuranceChapter 8 International Cargo InsurancevLearning Objectives:vTo realize the perils and l
72、osses in ocean transportationvTo learn the coverage of the Ocean Marine Cargo ClausesvTo understand the ways of stipulating insurance clause in Sales Contract and the import and export insurance practice in China.vA Frontier Knowledge: to learn about the Export Credit Insurance 8.1PartiestotheInsura
73、nce8.2MarineInsurance8.3InsuranceofLand,AirandPostalTransportation8.4FundamentalPrinciplesofCargoInsurance8.1 Parties to the InsuranceInsurerInsuredInsuranceBrokerClaimantMarine InsurancevTypes of Risks, Losses and Expenses CoveredvScope of Insurance CoveragevProcedures of Marine InsuranceRisksvNatu
74、ral Risks: Perils of the SeavManmade Risks: Extraneous RisksLossesvTotal LossvActual Total LossvConstructive Total LossvPartial LossvGeneral AveragevParticular AverageConstructive Total LossesvDefinitionvAninsurancelosswheretheexpenseofrecoveringorrepairingtheinsuredgoodswouldexceedtheirvalueafterth
75、isexpenditurehadbeenincurred.vHow to adjustvIntheadjustmentofconstructivetotallosses,thevalueofanyremainingsalvageabandonedtounderwritersmay,byagreement,betakenintoconsideration,withpaymenttotheassureduponanetbasis.Otherwise,underwriterspayfullinsuredvalueandmaythendisposeofthesalvagefortheirownacco
76、unt,providedtheyhaveelectedtoacceptabandonment.vIfthelosswasduetoseaperil,a“mastersprotest”(alsocalled“captainsprotest”)willusuallyberequired.Thiscertifiesthefactthatunusuallyheavyweatherorotherexceptionalcircumstancewasencounteredduringthevoyageandisextendedtoconfirmthelossoftheshipmentinquestion.I
77、nclaimsfortotalloss,itisespeciallynecessarythatafullsetofinsurancecertificatesandbillsofladingbesubmittedtotheinsurancecompanyrepresentative.General AveragevDefinitionvSeeP.119vHow to adjustv Asthenameimplies,generalaverageclaimsaffectalltheinterestswhichstandtosufferafinanciallossifaparticularvoyag
78、eisnotsuccessfullycompleted.Thelossessuchcausedisbornebyalltheparitiesinvolved,e.g.ship,individualcargoowners.vRemarksvInactualpractice,generalaveragesresultmainlyfromstranding,fires,collisionsandfromengagingsalvageassistanceorputtingintoaportofrefugefollowingamachinerybreakdownorotherperil.Particul
79、ar AveragevDefinitionvAninsurancelossthataffectsspecificinterestsonly.Therearetwokindsofparticularaveragelosses:thetotallossofapartofthegoods,andthearrivalofgoodsatdestinationinadamagedcondition.vHow to adjustvInthefirstsituation,itisnecessarytodeterminehowmuchofthetotalamountinsuredisapplicabletoth
80、emissingitem.Inhomogeneousorfungiblecargothatis,cargowhichiscapableofmutualsubstitution,likeoilorcoalitisfrequentlyamatterofsimplearithmetic.Thevalueoftheunitofmeasurementofthecargoisfoundbydividingtheamountofinsurancebythetotalnumberofunitsintheshipment.Thisvaluemultipliedbythenumberofmissingunitsg
81、ivesthevalueoftheloss.Scope of Insurance CoveragevBasic CoveragevFPAvWPAvAll RisksvAdditional CoveragevGeneral Additional CoveragevSpecial Additional CoverageProcedures of Marine InsuranceToapplyformarineinsuranceTodeterminetheinsurancevalueofthegoodstobeinsuredTodeterminetheinsuranceaverageandcover
82、ageTodetermineinsurancepremiumratesInsurance ProceduresUsuallyinsuranceisarrangedbytheexporter(underCIFtermsetc.)ortheimporter(underFOB,CFRtermsetc.)approachinganinsurancecompanywhichhasadepartmentspecializingincargoinsurance.Theymaystartbyinquiringandchoosingtherightcoverageandthennegotiateinsuranc
83、epremiumrates.8.3 Insurance of Land, Air and Postal TransportationLandtransportationrisk:WPAAllRisksforlandtransportation:MarineAllrisksAirtransportationrisk:WPAAirtransportationallrisks:MarineAllRisksParcelPostriskandparcelpostallrisks8.4 Fundamental Principles of Cargo InsuranceInsurableInterestGo
84、odFaithIndemnityChapter 9 Terms of PriceLearning ObjectivesPricingFactorsPricingTechniquesPricingStrategiesSelectionofCurrencyandAvoidanceofForeignExchangeRisk Chapter 9 :Terms of Price9.1PriceElements9.2PricingMethods9.3ConversionofMajorTradeTerms9.4ExchangeCost:AnEvaluationTool9.5PricingStrategies
85、9.6MoneyofAccountandAvoidanceofForeignExchangeRisk9.7UseofCommissionandDiscount9.8ClouseofPrice9.1 Price ElementsCostStructureFactorConsiderationsinpricingCost StructurePricing Factorsother considerations in pricing export AMotto:ToThinkGlobal,ToPriceLocal. 9.2 Pricing MethodsCost-basedPricingAbasic
86、costfigure+ExpectedProfit+UnassignedCostBreak-evenPricingMarginalCostPricingCost-based PricingAbasiccostfigure+ExpectedProfit+UnassignedCostBreak-even PricingBreak-even:asituationthatcontribution marginjustcoversfixed costs,inwhichtherewouldbeneitherprofitorlossforafirminitsoperation.Break-evenpoint
87、:suchapointofsalesatwhichtheamountofsalesrevenueequalsthetotalcosts.Ways to determine the BEPSalesRevenue-VariableCost=ContributionMarginContributionMargin-FixedCosts=NetIncomeIf,ContributionMargin=FixedCosts,then,NetIncome=0,thus,thefirmisinthesituationofBreak Even.Marginal Cost PricingDefinition:P
88、.137Cautions:Dumping9.3 Conversion of Major Trade TermsFOBpriceisgiven:CFRprice=CIFprice=CIFpriceisgiven:FOBprice=CFRprice=CFRpriceisgiven:FOBprice=CIFprice= 9.4 Exchange CostSpecial Tool to Determine the Profitability of ExportExchangeCost:thecostintermsoflocalcurrencyforearningeachunitofforeigncur
89、rency.ExchangeCost=TotalExportCost(localcurrency)/TotalRevenuefromExportSale(foreignCurrency) 9.5 Pricing StrategiesASkimmingPriceStrategyAPenetrationPriceStrategyEDLPStrategy 9.6 Money of Account and Avoidance of Foreign ExchangeDefinition:Hardcurrency:Softcurrency: 9.7 Use of Commission and Discou
90、nt Plancommission:Commission=Netprice=Discount:Netprice: 9.8 Clause of PricePriceclause:Unitprice:Chapter 10 International Payment10.1AmountofPayment10.2PaymentCurrency10.3CreditInstruments10.4InternationalMoneyTransferTypes10.5PaymentMethods10.6RiskLevelAssessmentofPaymentsLearning Objectivespaymen
91、tinstrumentsPaymentmethodsRemittanceCollectionLetterofcreditLetterofguaranteeTermsofpaymentinsalesContract10.3 Credit InstrumentsBillofExchangeAsampledraftanditselementsTypesofdraftsStagesinhandlingabillofexchangePromissoryNoteDefinitionAsampledraftanditselementsCheckDefinitionAsampledraftanditselem
92、entsActivitiesforComprehension:Differencebetweendraft,promissorynoteandcheck.10.4 International Money Transfer TypesSwiftInterbankTransferBuyersCheckBuyersDraftInternationalMoneyOrders10.5 Payment Methods RemittanceCollectionLetterofCreditRemittance: M/T, T/T, D/DWhatisit?Seetextbook.Howdoesitwork?P
93、ls.gotonextpageforitsworkflow.Remittance Workflow Remittance WorkflowRemittance WorkflowApplication formCollection托收Uponthedeliveryofthegoods,theexporterdrawsabillofexchangeontheimporterforthesumdue,withorwithoutrelevantshippingdocumentsattached,andauthorizeshisbanktoeffectthecollectionofthepaymentt
94、hroughhisbranchbankorcorrespondentbankinthecountryoftheimporter.指债权人（一般为出口人）或收款人提供收款指债权人（一般为出口人）或收款人提供收款索汇凭据（如汇票），委托银行向债务人（进索汇凭据（如汇票），委托银行向债务人（进口人）或收款人收取款项的一种支付方式。口人）或收款人收取款项的一种支付方式。Varieties of CollectionvDocumentaryCollection跟单托收vCleanBillCollection光票托收:TravelersCheck,CashiersCheck,etc.Documentary
95、collectionhastherelevantshippingdocumentsattachedtothedraft,whileincleancollectiononlydraftisused.光票托收的优点安全直接向付款人邮寄收款存在较大风险，通过银行间的国际网络收款可以避免这些风险，是较安全的收款方式；方便国际化银行的网络遍布全球，可以十分便捷地收妥来自世界各地的款项；快捷如托收行与付款行/代收行签有“立即贷记”协议，则可大大缩短收款时间，服务十分便捷；费用低廉光票托收的银行费用相对较低。WorkflowExporterImporterExporterImporterRemitting
96、BankCollecting Bank2.Ship Goods3.Present Documents4.Send Docs.&Instr.6.Remit5.Release Docs. Upon Payment or Acceptance1. ContractDocuments against Acceptance,D/A 承兑交单 Under D/A,the buyer can get the shipping documents from the collecting bank after he has duly accepted the draft.This is only applica
97、ble to time draft.指出口商按照买卖合同发运货物后开具远期汇票，连同货运单据，通过银行向进口商提示，进口商在审核无误承兑汇票后即可向银行领取单据，到期时再履行付款义务.进口商的选择原因费用低廉银行费用较低,有利于节约财务费用、控制成本；简便易行与信用证方式相比,手续简单,易于操作；资金占压少在出口商的备货和装运阶段不必预付货款、占压资金，支付货款或做出承兑后可立即取得货物单据并处置货物；改善现金流承兑交单项下,进口商承兑后即可以取得货物单据并处置货物，在售出货物并有现金流入后才对外支付，资金占压近乎为零，财务状况和偿债能力得到有效改善。出口商的选择原因出口商的选择原因与信用证方
98、式相比,操作简单,方便易行；银行费用较低,有利于节约费用、控制成本；进口商只有承兑或付款后才能提取货物,与赊销方式相比,承担的风险较小Particular RemarksUnder collection,the shipping documents should beto orderand the deal should be done under CIF. 运输单据应为空白抬头且价格条款应为到岸价To use collection,the seller needs to have a good understanding of the credit status of the buyer.
99、出口商需要全面正确地了解进口商的资信状况Collection uses commercial credit, and the banks involved do not bear any risks if the payment of the goods is not made by the buyer. 银行将不承担付款义务Varieties of Documentary CollectionDocuments against Payment,D/P 付款交单 Under D/P,the buyer can receive the shipping documents only after
100、he has duly made the payment of the goods. 指买方付清款项后，代收行才能将单据交给进口商Letter of CreditWhatisaLetterofCredit?IntroductiontotheDocumentaryCreditFlowofaDocumentaryCreditPerformanceofL/CWHAT IS LETTER OF CREDIT？ issued by a bank and paid by bank firstissued by a bank and paid by bank first the most important
101、 settlement instrument in international the most important settlement instrument in international trade.trade. at the request of an importerat the request of an importer documentarydocumentaryLetter of credit is a mechanism. Letter of credit is a mechanism. L/CISL/CISNOTNOTASIMPLYLETTER.ASIMPLYLETTE
102、R. the exporter is beneficiarythe exporter is beneficiaryThree terms generically refer to the same product: Letter of Credit Commercial Credit Documentary CreditTwo key elements: The presentation of stipulated documents Provided that the terms and conditions of the credit are complied with1.Contract
103、3.L/C8.Documents9.Reimbursements10.Documents11.Settlemet5.Shipment/Dispatch12.Takes Delivery4.Advice of L/C6.Documents7.Negotiaton2.L./C ApplicationFlow Chart of L/CFlow Chart of L/CgoodsgoodsIssuing Issuing bankbankAdvising Advising /confirming /confirming bankbankBuyer Buyer (Applicant)(Applicant)
104、Seller Seller (Beneficiary)(Beneficiary)The Different Forms of Availability of the CreditThe Different Forms of Availability of the Credit The payment at sightThe payment at sight The Deferred PaymentThe Deferred Payment The AcceptanceThe Acceptance The NegotiationThe NegotiationFacilitate internati
105、onal tradeFacilitate international trade For exporter:For exporter: Sell against the promise of a bank rather than a firmSell against the promise of a bank rather than a firm In a more secure position to be paidIn a more secure position to be paidFor importer:For importer: Facilitate pre-export fina
106、ncingFacilitate pre-export financing Postpone payment. Postpone payment. Obtain financing if acceptances madeObtain financing if acceptances madeChapter 11 Claims, force majeure and arbitrationClaimsForceMajeureClausesSino-sureWebsite:ArbitrationCRETACWebsite: ClaimsDefinitionGenuinecomplaints:claim
107、smadebythebuyersorcustomersSpecimenLetterofClaim11.2 Force MajeureDefinition:(ACTofGod):TheconsequenceofaforcemajeureclauseHowtospecifyaforcemajeureclause11.3 Arbitration Definition:InternationalCourtofArbitrationPart 3 International Trade ProcedureChapter 12 Launching a Profitable Transaction Chapt
108、er 13 Business Negotiation and Establishment of Contract Chapter 14 Exporting ElementsChapter 15 Importing ElementsChapter 16 DocumentationChapter 12 Launching a Profitable Transaction12.1MarketResearch12.2SourcingContacts12.3TipsforaSuccessfulNegotiation12.1 Market ResearchDecidethetargetcountry:Cu
109、lturalbackgroundandeconomicsituationsPoliticalclimateofthecountryCurrentimportandexportstatisticsGovernmentpolicyonInternationaltradeInformationontradebarriersandrestrictions12.2 Sourcing ContactsICCSearchtheinformationofyourpotentialpartnerCreditreferenceBackgroundinformationAnnualsalesvolumeBusine
110、ssculture12.3 Tips for a Successful NegotiationQualified Negotiators: be familiar with “Terms of Sale” “Risk Avoidance”A negotiating team should include: Commercial : Technical: Financial: Legal: Negotiating Team Leader Negotiating Brief and Negotiating PlanNegotiating BriefDefinethenegotiatingobjec
111、tivesStatetheminimumacceptablelevelforeachthemajoritemsEstablishthetimeperiodIdentifytheteamleaderandothermembersSetupthelinesofcommunicationandthereportingsystemNegotiating planTipsfordraftingthenegotiatingplan:DefinetheinitialstrategyDevelopthesupportingargumentsDecideonthelocationforthenegotiatio
112、nsEnsurehavemadeadministrativearrangementsChapter 13 Business Negotiation and Establishment of Contract13.1Enquiry13.2Offer13.3Counter-offer13.4Acceptance13.5ConclusionofContract13.1 EnquiryWhattoinquire?Howtoinquire?Enquiryelements.13.2 OfferOfferYes!Acceptance.No!NegotiationConcluded.Counter-offer
113、.OfferwithEngagement.FirmOffer.OfferwithoutEngagement.Offer with EngagementFirmoffer,irrevocableofferAfirmoffershouldincludes:AdetaileddescriptionoftheitemPrice,currencyPackagingMinimumormaximumquantityQualityShippingdate,modeTermsofpaymentAtimeframeduringwhichyourofferisavailableOffer without Engag
114、ementFeatures:unclear,incompleteandwithreservation.Wordingsas“referenceprice,subjecttoourfinalconfirmation,subjecttobeingunsold,etc.”13.3 Counter-offerArejectionoftheoffer.Anewoffermadebyanoffereetoanofferor,eitherwiththeperspectivesofthetermsofdelivery,orofpayments.13.4 AcceptanceAnassenttotheterms
115、ofanoffer.Silencedoesnotmakeanacceptance.13.5 Conclusion of Contract TermsofDeliveryTermsofPaymentChapter 14 Exporting Elements14.1ExportStrategies14.2ExportRoadmap14.3GettingPaidforExports14.4ManagingRisksofExporting14.1 Export StrategiesCommitmentTheMarketResearchRiskManagementFinancialRiskForeign
116、ExchangeRiskCountryandCustomerRisk14.2 Export RoadmapExportLicenseQuotationSalesContractCargoReadinessL/CoptionalCustomsClearanceShippingCargoInsuranceDocumentandSettlement14.3 Getting Paid for ExportsResearch Overseas Customers and Markets CreditworthinessPaymentTermsforOverseasCustomersReceivingPa
117、ymentsfromOverseasCustomersManagingYourOverseasCustomersPaymentPerformanceWhattoDoIfDocumentsAreRejected14.4 Managing Risks of ExportingRisksofExportingMinimizetheRisksofExportingReducingFinancialRiskRiskManagementandInsuranceServicesChapter 15 Importing Elements15.1ImportStrategies15.2ImportRoadmap
118、15.3TaxesandDutiesonImports15.4ManagingRisksofImporting15.1 Import StrategiesImportPlanLegalResponsibilitiesasanImportFinancialConsiderationsProtectYourInterestsWhenImporting15.1.1 Import Plan DrawupcontractsWhenandhowyouwillmakepaymentsTransportarrangementsandinsuranceCustomsThetradingtermsPrincipl
119、eofproductliabilityMore,15.1.2 Legal Responsibilities CheckConsiderFindoutNotifySeekPay15.1.3 Financial ConsiderationFocusonthetotalcostofimportationConsidertheexchangeratefluctuationNegotiatetermsandconditionsMethodofPaymentFinancing15.2 Import Roadmap15.2.1ImportLicense15.2.2Inquiry&TradeNegotiati
120、on15.2.3FindingtheRightSupplierOverseas15.2.4PurchaseContract15.2.5IssuanceofL/C15.2.6ManagingTransport15.2.7Insurance15.2.8DocumentExaminationandPayment15.2.9CustomsClearance15.2.10TakingDeliveryandInspection15.2.11ReclaimingTaxesonRejectedImports15.2.12Claim15.2.13SettlementofDisputes15.3 Taxes an
121、d Duties on Imports15.3.1TaxesandDutiesonImports15.3.2SuspendingorDelayingImportCharges15.3.3ReliefonImportsforExportorRe-export15.3.1 Taxes and Duties on ImportsImportDutyVAT15.3.2 Suspending or Delaying Import ChargesWhy?How?15.3.3 Relief on Imports for Export or Re-exportTemporaryImportsProcessin
122、gandre-exportingProcessingandre-importingSpecialImportRelief15.4 Managing Risks of Importing ManageCountryRiskforImportsAssesstheReliabilityofOverseasSuppliersEnsureImportedGoodsMeetYourRequirementsMinimizetheImpactofImportDeliveryProblemsAvoidPaymentProblemswithImportsManageForeignExchangeRiskforIm
123、portanceChapter 16 Documentation16.1GovernmentControlledDocuments16.2CommercialDocuments16.3FinanceDocuments16.4TransportationDocuments16.5InsuranceDocuments16.1 Government Controlled DocumentsForeignExchangeLicenseExportLicenseCertificateofOriginInspectionCertificateConsularInvoiceCustomsInvoice16.
124、2 Commercial DocumentsProformalInvoiceCommercialInvoiceQualityCertificateWeightCertificate16.3 Finance Documents Samples:ApplicationformforInternationalMoneyTransferDraftsBankersDraftSightDraftTimeDraftApplicationforDocumentaryLetterofCreditLetterofCredit16.4 Transportation DocumentsShippingnoteCons
125、ignmentnoteArrivalNotification16.5 Insurance DocumentsInsurancePolicyInsuranceCertificateOpenPolicyPart 4 Trade FormsChapter 17 Agency, Distribution and ConsignmentChapter 18 TendersChapter 19 Counter TradeChapter 20 Futures TradingChapter 21 E-commerce Internationaltradeformsrefertothecommon practi
126、ces and channels betweencountries for the flow of commodities orservices.Everyimportorexportiscarriedoutthroughcertaintradeform.Besidesthedirecttradeformdiscussedinthisbooksofar,thereare a few indirect ones commonly used ininternationaltradeaswell.Someofthemostcommonlyusedonesarediscussedinthelastfo
127、urchaptersofthisbook.Chapter 17 Agency, Distribution and Consignment17.1Agency17.2Distribution173.ConsignmentA Market Channel17.1 AgencyDefinitionBrokersSoleAgentGeneralAgentCommissionAgentExportandImportAgentsExportandImportHouses17.2 DistributionDefinitionDistributorTwoKinds:SoleorExclusiveDistrib
128、utionNon-exclusiveDistributionWholesalerRetailer17.3 ConsignmentDefinitionOperationModeChapter 18 Tenders18.1InvitationforBids18.2SubmissionofTenders18.3BidOpening18.4EvaluationofTender18.5TenderDiscussionsandTenderDecision18.6EstablishmentofContract18.7ExecutionofContract18.1 Invitation for BidsTen
129、derDocuments;TermsofContract;BasePriceLimitonTender;TechnicalSpecifications;KindsofInvitationtoBid;18.2 Submission of TendersTenderDocumentsTenderDocumentation18.3 Bid OpeningInaccordancewiththespecificconditionsthreemodesmaybeadopted:(1)Bidopeninginpublic;(2)BidopeninginLimitedly;(3)Bidopeningsecre
130、tly.18.4 Evaluation of TenderComparisonofTenderPricesEvaluationofContractsandAdministrationsTechnologicalEvaluationofTendersCommercialEvaluationofTendersAnalysisofEngineeringRisks18.5 Tender Discussions and Tender DecisionTheseactivitiesarecarriedoutbetweentheemployerandthebidderschosenaftertheevalu
131、ationoftenders,includingthetechnical reply and price negotiations. Tender decision shallnormallybemadewithintheperiodofthreetosixmonths.Then the promoter should send a notice of award to thewinningbidder. Thelastworkforthebothpartiestodoistoconcludeanagreementofcontracttodeterminethetermsandconditio
132、ns of contract and the rights and duties of thepromoterandthecontractor. Atthesametime,thecontractorshall establish with his banker a letter of performanceguarantee and submit it to the employer as an economicguarantee.18.6 Establishment of ContractGeneralConditionSpecialConditionFIDIC,forthefurther
133、studyhere:http:/fidic.org18.7 Execution of ContractDesignsofPlant-EngineeringSupplyofTechnologySupplyofmachinesandequipmentConstructionandinstallationInitialOperationChapter 19 Counter TradeDefinition:an umbrella term that includes all of the variations of the exchange of goods for goods19.1Batter19
134、.2Counter-purchase19.3CompensationTrade19.4SwitchTrade19.5Offset19.2 Counter-purchase Foreign ExchangeExport GoodsCounter-trade Goods Foreign ExchangeExporter in Country AImporter in Country B19.3 Compensation TradePartialCompensationExport GoodsCounter-trade Goods Foreign ExchangeExporter in Countr
135、y AImporter in Country B19.4 Switch Trade Hard Currency (with a profit) 5HardCurrency Clearing Units Clearing Units 3 Goods 4(at a 2discount)1 Bilateral Clearing + Agreement -Switch DealerThe Third CountryCreditor CountryDebtor Country19. 5 OffsetDefinitionDirectoffsetIndirectoffsetChapter 20 Future
136、s Trading20.1IntroductiontoFuturesTrading20.2LookbeforeLeapingintoFutures20.3FuturesMarket20.4FuturesContract20.5Hedging20.1 Introduction to FuturesFuturesandForwardContractWorldlyFamousFuturesExchangesChicagoBoardofTrade(CBOT)ChicagoMercantileExchange（CME)NewYorkMercantileExchange(NYME)LondonMetalE
137、xchangeTokyoStockExchangeSingaporeInternationalMonetaryExchangeHongKongCommodityExchange20.2 Look before Leaping into FuturesLooktotheFuturesApplicationsofFuturesTradingConsiderationsbeforeStartingFuturesTrading20.3 Future MarketFuturesExchangeDefinitionOrganizationStructureGeneralResponsibilitiesBr
138、okerTheClearingHouseMarginSystemOriginalMarginorInitialMarginVariationMarginorCallMarginParticipants20.4 Futures Contract DefinitionLongprofitsShortprofits20.5 HedgingDefinitionSellingHedgeBuyingHedgeChapter 21 E-commerce21.1WhytoE-commerce21.2RoleofIntermediaryinE-commerce21.3TwoModesofE-commerce21
139、.4HowtoStartE-commerce21.5Cyber-payments21.6BarrierstoE-commerceDevelopment21.1 Why to E-commerceLowTransactionCostLargePurchasesperTransactionIntegrationofBusinessProceduresFlexibilityLargeCatalogsImprovedCustomerInteractions21.2 Role of Intermediary in E-commerceRoleofIntermediarysuchaswholesalers
140、andretailersinE-commercewillbedecreased.21.3 Two Methods of E-commerceBusiness-tocustomerBusiness-tobusiness21.4 How to Start E-commerceChooseCompatibleProductsforSalesoverInternetStartanonlineStoreConstructawebsiteandE-mailSystems21.5 Cyber-paymentsE-cashCreditcardElectroniccheck21.6 Barriers to E-commerce DevelopmentLackoftheskillsandinfrastructureSpamandpornographyLackofSecurityInsufficientlegalprotectionThankyouall!
