International Trade Practice(5)

Aims

This courseaims at providing the students with a general profile of International Trade which includes: getting a full understanding of the procedure of international trade; exactly telling the differences of the 11 trade terms under Incoterms 2010 and know very well how to use the trade terms properly; knowing how to calculate and offer price; understanding terms of commodity and the importance of transportation;identify the key issues in handling international payments; being aware of the importance of cargo transportation insurance and defining inspection, claim, force majeure and arbitration.

Learning Outcomes

1.Understanding the Definition and Procedure of international trade

a)Definition and reasons for international trade

b)Procedure of International trade and the importance of contract

2.Understanding the trade terms in international trade

a)Outline the major rules regulating the use of trade terms

b)Provide a simple explanation of the eleven terms under the Incoterms 2010, focus on the use of FOB, CFR and CIR

3.Stating the standard form of price quoted in international trade

a)Identify the major factors in pricing decision

b)Define the four stages of price communication

c)Calcalute basice prices

4.Understanding terms of commodity

a)Explaining the different ways of quality stipulatio

b)Outlinge the quantity measurement units and systerms

c)Compose quality, quantity and packing clauses properly

5.Understanding the importance of transportation

a) Know the modes of transportation in terms of their features, suitability and freight calculation

b) Be aware of the importance of ocean bill of lading and its different types

c) Stipulate delivery clause in a sales contract

6.Cargo Transportation Insurance

a) Be aware of the risks and losses in ocean transportation and the fundamental principles of cargo insurance

b) Outline the scope of the Ocean Marine Cargo Clauses of CIC

c) Understand the procedure for lodging claims

7.Identify the key issues in handling international payments

a) Understand the use of paying instruments, especially the bill of exchange

b) Compare and contrast the characteristics of terms of payment

c) State the stages involved in using a letter of credit

8.Understand the importance of documentation in international trade, especially in export transaction

a) Be aware of the basic requirements and information sources of export documentation

b) Outline the functions and contents of the major export documents

9.Inspection, claim, force majeure and arbitration

a) Stipulate the place and time of inspection in the contract

b) Understand the conditions for breach of contract and settlement of claims

c) realize the importance of arbitration in the settlement of disputes and claims

Teaching and Learning

Lecture and presentations by the lecturer will be integrated with students centered in-class activities including tasks and exercises, independent, group and pair work. The practice of international trade practice will be carried out throughout the whole teaching procedure.

Assessment

Basic Reading List

1.BRANCH, A E. Export Practice and Management, 5thedition, Business Press, Thomson learning. 2000

2.BRENTON PAUL. International Trade. Oxford University Press. 1997

3.曹菱主编.外贸英语实务（英文版）.北京：外语教育与研究出版社，2000.

4.帅建林主编.国际贸易实务（英文版）.北京：对外经济贸易出版社，2007.