Important notes to understand in an International Trade Contract

Currently, Vietnam is no longer the market of over 90 million citizens, but it is also the market of over 600 million citizens in ASEAN. Hence, it is crucial to understand important points in an International Trade Contract during the signing process.

What is the International Trade Contract?

The International Trade Contract, also known as Foreign Trade Contract, is a document that records the agreements from both parties in 2 different countries. In it, the sender has to deliver the goods to the agreed location and deliver the goods to the approved receiver. The outsourcing party must pay for the shipping fee and other surcharges for the delivery company.

Things to understand in an International Trade Contract

• The International Trade Contract always abides by international transport organizations’ rules, the laws in the sender’s country and the receiver’s country.

• English is the primary language used in International Trade Contract; moreover, both parties have a separate contract written in their language.

• In the trading contract, both parties have equal rights and responsibilities. A party’s right is the other’s responsibility and vice versa.

• The delivery unit has to transport the goods to the agreed location and receive remuneration. The party that hires the delivery unit needs to pay the compensation and receive goods at the requested location. When entering the contract, all parties receive equal economic benefits: The delivery unit receives remuneration. The outsourcing party gets to deliver goods from one place to another.

• Proofs of the delivery contract are tickets, bills of lading or other delivery documents.

Besides the delivery contract is the delivery document, serving as proof of receiving goods for transportation and also evidence for delivery for the sender.

What are the types of international delivery?

In Vietnam, when an individual or business transport goods overseas, there are 2 transportation methods: airborne and sea route. These 2 types have their advantages and disadvantages for each goods type, time and delivery cost.

• Airborne

Delivery by air has the advantage regarding time; it is much faster compared to the sea route. However, not every good can be transported by air and the delivery cost is relatively high. Therefore, if you have any goods that weigh under 100kg, short shelf life, and are fragile, you can select air delivery and express delivery to the buyer’s house.

• Sea route

Delivery by sea has the advantage regarding cost and, especially, delivering any goods regardless of shape, weight and oversized. If your order is an export order and weighing up to a few tons, then it is best to use the sea route. Even though the delivery time can take up to 1 – 2 months, delivery by sea will ensure low cost.

Based on the information shared above, Nhat Tin Logistics hopes that you can now understand important notes about International Trade Contract and choose the appropriate international delivery method for your goods.

Currently, Nhat Tin Logistics also deployed delivery services and shipping to 63 provinces nationwide. These services include Premium express delivery, Express delivery, Mixed express delivery, Road transportation, International delivery, etc., with speedy delivery time and appropriate fee rate. Nhat Tin Logistics always focuses on service quality to ensure customers have the best experience.

For more information regarding delivery services, customers can use the Hotline 1900 63 6688 or come to the post office to be accurately and quickly consulted.