The String Sales In INCOTERMS2010

With the rapid development of trade, the trade terms will get more and moreimportant. At the same time, International Chambers of Commerce (hereinafter referred toas ICC) will also update INCOTERMS constantly and make new trade terms to adapt tothe changing practice of international trade and the new situation. String sales is a new rulein INCOTERMS2010made by ICC, which is mentioned in the four waterway transporttrade terms----FAS, FOB, CFR, CIF. The new rule aims at enlarging the trade terms’rangeof application, especially in the trade of commodities. However, ICC do not update allrules related to string sales, such as the risk transfer and the insurance of goods, thoseobscure rules make both the academic world and practice confused, and will also hinderthe string sales’application in practice.This article is based on the reason that why ICC made the new regulation----stringsales, and trading cases in practicing, through the discussion of text regulations andpractice situations, deem that the range of string sales that ICC defined, then made a newinterpretation: Under certain conditions, a chain of sales occurred on the same goods. AlsoFCA, CIP, CPT could be used in string sales.The thesis is divided into six parts. Introduction section introduces the general theoryof INCOTERMS and the origin of string sales, illustrating the importance ofINCOTERMS and this new regulation and its impact on trade practices. The first chapterfocuses on the theory and practice of string sales, analyzes the scholars questioned thereasons for string sales and views of the parties, and analyzes the practical situation ofstring sales, and based on this proposed the new interpretation as well as several tradeterms which can be used. In the second chapter, the trade terms which can be used in stringsales were discussed, on the basis of a new interpretation, the applicability of such tradeterms were analyzed. The third chapter presents risk transfer issues, and relevantinternational laws, international conventions and domestic laws were compared to elect tobe risk transfer rules in string sales. The fourth chapter describes the insurance issues,through analyze the definition of "warehouse to warehouse clause" and insurance issues of goods in transit, interpreted the strategy of insure in string sales. The fifth chapter settles intrade practices of Chinese enterprises, analyzes the existing misunderstanding and error inthe application of practical situations, and then give the corresponding countermeasures.