FOREIGN TRADE CONTRACTS

What is a foreign trade contract? How to build a complete foreign trade contract. Let's go to ASC Logistics to find out about this business!

1. What is a foreign trade contract?

It is a written agreement between the buyer and the seller in two different countries about the purchase of goods (foreign trade).

The seller calls the exporter, sells the goods to the other party to collect the goods.

Buyers call importers, transfer money to exporters and receive goods. Contents of foreign trade contracts.

2. The main content of the foreign trade contract

If you read through some sample contracts, you will see the basics of international trade contracts. In particular, there are some important and mandatory provisions (according to Commercial Law 2005):

Commodity: a description of the goods

Quality: quality goods

Quantity: Quantity, weight

Price: the price of goods, accompanied by commercial conditions (eg FOB port stack)

Shipment: deadline, place of delivery

Payment: method, payment term

In addition, in order to fully meet the requirements of the parties, there are other important provisions such as:

Packing & Marking: Packing specifications, and labeling

Warranty: Warranty of goods (if any)

Force Maejure: Force Majeure

Claime: complaint

Arbitration: Arbitration

Other conditions

The specific content will of course have flexible changes to suit the actual needs of the parties. But the basic terms outlined above are very common, and you should refer to the drafting process and contract negotiations with foreign partners.

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3. Commercial contracts in customs dossiers 

In the customs file, the commercial contract is one of the documents required to be produced if the declaration is Yellow or Red.

If the customs declaration is in the Blue stream, you do not have to present it to the Customs. However, it should be prepared, so that if they have questions, or if the case is transferred to the Golden channel, it should be used immediately.

You only need 1 copy of the contract.

Note: Copies are photocopy, with signature & red seal on it. As I see when doing customs procedures in Hai Phong, do not seal the "duplicate original" as previously did. If not, meet the customs is difficult to find that the copy is not received, again took a snapshot. (And I have not found any clear what "snapshot" is ?! Also strange!).

To know more about the customs dossier, please refer to:

Article 12 of Circular 128/2013 / TT-BTC.
With the electromagnetic customs file, see Article 8, Circular 22/2014 / TT-BTC

It is also important to note that when processing, customs will pay close attention to the following information on the contract:

+ Goods: name of goods, quantity, unit price ...

+ Delivery basics: FOB, CNF ...

+ Payment methods: T / T, D / A, L / C ...

Therefore, when preparing the application and the declaration, you should read this information, and should cross check with other documents (Invoice, Packing List, C / O ...) to ensure accuracy.

Please contact ASC Logistics via hotline: 090.328.8872 (Mr Thang) for advice on how to set up a foreign trade contract, how to check the accuracy of the import customs dossier for free.