International Trade: Shipping Business Contracts and Laws

Running Head: international Trade P a g e | 0
Name of the student
Topic
University Name-

International Trade P a g e | 1
Table of Contents
Introduction.................................................................................................................................................1
Business summary of international shipping business.............................................................................1
Shipping details...........................................................................................................................................1
Shipping companies Overview....................................................................................................................2
Delivery of the Steamer to the clients..........................................................................................................3
Elements of International Trade in Real World...........................................................................................4
Contracts of carriage...................................................................................................................................5
Hauges rules............................................................................................................................................5
Hague Visby rules....................................................................................................................................5
Custom rules and regulation...................................................................................................................5
Cost insurance and freight (CIF)..................................................................................................................7
Marin insurance...........................................................................................................................................7
Terms of Delivery.......................................................................................................................................8
Bill of landing..............................................................................................................................................8
Bill of exchange...........................................................................................................................................9
Letter of credit.............................................................................................................................................9
Recommendation.......................................................................................................................................11
Conclusion.................................................................................................................................................12
References.................................................................................................................................................13
Appendix...................................................................................................................................................15
References.................................................................................................................................................17

International Trade P a g e | 2
Introduction
In this report, shipping company indulged in exporter, or importer, of goods the different
contracts brought together under the term ‘law of international trade has been taken into
consideration. In this assignment Trade Law and other shipping business laws and contracts have
been taken into consideration. This document will discuss the shipping options available to
company, requirements to meet and contracts to enter while exporting its goods and services in
other countries
Business summary of international shipping business
A company from Spain is business organization selling kitchen equipment to North
America and Asian countries is specialized in manufacturing of boilers and steamers
(Ashmarina, et al. 2017. The name of the company is Kitchen Kiwi Import and export Company.
The company is sourcing components to be fixed in the boilers from Italy, and Finland. It
customizes all of its kitchen customizers as per the customer requirement in different countries.
The component import and export pricing fluctuates often. Price and lead time to supply
depends on the complexity of the customer requirement. Since the product is not standardized,
the exporting requirement and procedures for the company varies on case to case basis. The
product characteristics compliance to international standards, delivery procedures of the various
sizes of steamers, packing requirements, documentation procedures are kept different for each
consignment. Hence, the export documentation is a specialized activity in the steamer
manufacturing company (Anderson, and Neary, 2015).
Shipping details
 Kitchen apparels and other necessary equipment’s to USA
 Entering into the strategic contract with the shipping company for the shipping purpose
of its goods and services from one country to another (Wasser, et al. 2015).

International Trade P a g e | 3
Shipping companies Overview
There are several shipping companies which could be undertaken by the Kitchen Kiwi Import
and export Company to for the shipping purpose of its goods and services from one country to
another (Chan, et al. 2015).
 Nippon Yusen
 Maersek Line
 Evergreen Marin Corporatio
All of three companies will be analyzed in terms of benefits offered and amount of fees charged
by company ( Foley, and Manova, 2015).
Criteria Nippon Yusen Maersek Line Evergreen Marin
Corporation
Balance of trade
through this shipping
Positive Negative -
Destination number of
p0rts
15 13 12
Final destination port 7 destination port 5 destination port 8 destination port
Freight rates Based on the contract Standard charges As per the carriage
and wages determined
Trade Governance
requirement
Shipping and
international trade law
Compliance with the
corporate law,
shipping law and
assistance in double
taxation avoidance
and shipping charges.
Arrangement of
LMAA arbitration
Hague rules and
regulations.