Conclude contract and trade terms

Case Study
Not Specified
Jasmine rice
Export
Export from Thailand
Thailand
United States of America
Contract between seller and buyer
Conclude contract and trade terms/Buy (Export from THA to USA/Jasmine rice)
Incoterms
- Exporter or representative
- Importer
- Exporter or representative
- Importer
- Exporter has a list of jasmine rice potential buyers. - Exporter is eligible to export rice. The qualifications of exporter meet regulatory requirements outlined in Ministry of Commerce Regulation on the Export of Rice No. 1 (B.E. 2534), 5 (B.E. 2637), and 7 (B.E. 2539). - As required by Rice Trading Act (B.E. 2489), exporter has already received a permission from Department of Internal Trade (a government agency under the administration of Ministry of Commerce) to trade rice with overseas trading partners (general classification). The application form for a request of a permission to trade rice with overseas trading partners costs 5 THB. The permission to export rice costs 20,000 THB yearly. - In line with Export Commodity Standards Act (B.E.2503 and 2523), exporter has successfully registered itself as a registered jasmine rice exporter with Office of Commodity Standards, one of the divisions in Department of Foreign Trade. The registration takes less than 1 working day and costs 2,500 THB. It expires on December 31 of every year. - To register with Office of Commodity Standards, exporter must have the qualifications listed in Ministry of Commerce Regulation on the Export of Products under the Standard Scheme (B.E. 2504).
1. Exporter prepares Quotation to inform an importer about quoted price and sales terms. 2. Importer reviews the Quotation and determines if the quoted price and sales terms are acceptable. If the quoted price and sales terms are not acceptable, importer requests exporter to revise the quoted price and sales terms. 3. If the quoted price and sales terms are acceptable, importer confirms exporter the purchase of goods with Purchase Order. 4. Exporter prepares the delivery of goods accordingly. 5. Exporter acknowledges the receipt of Purchase Order and confirms that the jasmine rice will be delivered according to established conditions and terms by sending importer Proforma Invoice. 6. Importer receives Proforma Invoice.
- Importer and exporter have concluded trade contract and terms.
- Based on a purchase order, an exporter can prepare goods for export.
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