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International Export
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An offer to sell made over the telephone by the exporter, covering
the type of good, quantity to be sold, per unit price and delivery and
payment terms accepted by the foreign buyer or an offer to buy from the
importer. # Such a contract may be preceded by the series of offers and counter-offers before the final offer and acceptance. Such a contract may or may not be confirmed in writing.
# It usually occurs between
branches of the same company or between long-standing trade partners or
between reputable companies dealing in commodities subject to rapid
price changes...
Read more Once such General Standard Conditions Incoterms 2000 have been adopted, they are legally binding whether or not both parties are aware of and understand every provision. Incoterms 2000, is one particular kind of General Standard Conditions so if the exporter and buyer agree on an F.O.B. price - it has a clear defined Incoterms meaning and are legally binding.
Export sales contract can be informal or formal, depending on the foreign buyer. "...adopting General Standard Conditions is legally binding, whether or not both parties are aware of or understand, every provision..." "...specify relationship as an Independent Contractor and you cannot be held legally liable for actions an agent commit..." Read more |
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