Right

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📖 Detailed Explanation

In foreign trade terminology, 'Right' refers to a claimable interest or entitlement granted to a party by contract or law, typically contrasted with 'Obligation'. It appears widely in international trade contracts, letters of credit, bills of lading, insurance policies, etc., such as the buyer's right to inspect goods, the seller's right to collect payment, the holder's right to take delivery against the bill of lading, and the beneficiary's right to claim payment under a letter of credit. Usage scenarios include: the right to terminate a contract under force majeure, the right to claim damages upon breach, the right to use intellectual property under a license, etc. Note: A right must have a clear legal or contractual basis and may be subject to time limits, conditions, or third-party rights; different legal systems may interpret rights differently, so the applicable law and dispute resolution method should be specified. Unlike 'Power', a right is an interest one can enjoy oneself, while a power is the ability to affect another's legal status; unlike 'Remedy', a right is the basis, and a remedy is the corrective measure after a right is infringed. Foreign trade practitioners should carefully review rights clauses in contracts to ensure they are enforceable and do not conflict with other clauses.

📝 Examples

1. According to Article 10 of the contract, the buyer has the right to inspect the goods within 30 days after receipt, and if quality discrepancies are found, has the right to request replacement or compensation from the seller. (Illustrates the buyer's exercise of inspection and claim rights) 2. Under a letter of credit payment method, the beneficiary, upon presenting documents complying with the letter of credit, has the right to demand payment from the issuing bank. (Illustrates the beneficiary's right to claim payment under a letter of credit)

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