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Chapter 1 Introduction 1.1 The Importance of International Trade 1.2 Features of International Transactions 1.2.1 Transaction Risks 1.2.2 Institutional and Political Risks 1.3 Organizations and Legal Environment of International Trade 1.3.1 International Trade Organizations 1.3.2 Legal System of International Trade 1.4 Three-Step Trade Process 1.4.1 Preparation for Contract 1.4.2 Negotiation of Contract 1.4.3 Performance of Contract 1.5 Scope and Resources 1.5.1 Scope of This Book 1.5.2 Available Resources Exercise Part ¢ñ Contracts for International Sale of Goods Chapter 2 Formation of Contracts 2.1 Inquiry 2.2 Offer 2.2.1 What Is an Offer? 2.2.2 Effectiveness of an Offer 2.3 Counteroffer 2.4 Acceptance 2.4.1 What Is an Acceptance? 2.4.2 Late Acceptance 2.4.3 Withdrawal of an Acceptance 2.5 Contracts in Writing 2.5.1 Countersignature 2.5.2 Elements of International S/C Exercise Chapter 3 Performance of Contracts 3.1 General Procedure of Export and Import 3.1.1 For Export on CIF Term with Payment by L/C 3.1.2 For Import on FOB Term with Payment by L/C 3.2 Main Formalities 3.2.1 Goods Preparation 3.2.2 Transportation 3.2.3 Insurance 3.2.4 Inspection 3.2.5 Customs Clearance 3.2.6 Payment 3.2.7 Claims and Settlement Exercise Part ¢ò Subject Terms Chapter 4 Name and Quality 4.1 Name of Commodity 4.2 Quality of Commodity 4.2.1 Sale by Sample 4.2.2 Sale by Description Exercise ¡­¡­ Part ¢ó Trade Terms and Pricing Part ¢ô Cargo Transport Part ¢õ Cargo Insurance Part ¢ö Payment Part ¢÷ Disputes and Settlement Glossary References