ABC Trading Co, Vietnam (seller) agrees to sell coffee of 200 tons for XYZ Co., Japan (buyer). The contract will be sign

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ABC Trading Co, Vietnam (seller) agrees to sell coffee of 200
tons for XYZ Co., Japan (buyer). The contract will be signed from
10 April, 2022. Payment will be made by irrevocable L/C at sight.
Analyze the errors, the missing points in the sales contract:
1. Commodity: Coffee
2. Quality: as sample
3. Quantity: 200 T more or less 5% at the seller’s option or
buyer’s option
4. Price: USD1,500/T
5. Payment: By L/C to be opened not later than 9 April, 2022. The
buyer will present following
documents:
- Pro Forma Invoice
- Certificate of Quality and Quantity
- Packing List
- Bill of Lading marked Freight prepaid made out to order of any
bank
- Certificate of Insurance two copies
- Certificate of Origin form D
6. Delivery: not later than 9 April, 2022.
Port of loading: Osaka, Japan.
Port of discharge: Saigon, Vietnam
Partial shipment: allowed. The buyer will advise the seller the
name of vessel not later than five (05) days before shipping date
by fax
7. Arbitration: all disputes arising out of this contract or breach
thereof which cannot be settled amicably by the parties concerned
shall be settled by the Arbitration.
8. Other term: the contract will come into force from 11 April,
2022. The contract is made in two (02) copies in English.
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