Withdrawal

In foreign trade, withdrawal generally refers to the act of one party retracting its offer, acceptance, or a certain right before the contract is formed or under specific conditions. According to the United Nations Convention on Contracts for the International Sale of Goods (CISG), an offer may be withdrawn, but the notice of withdrawal must reach the offeree before or at the same time as the offer; if the offer has already reached the offeree, it can only be revoked, and the difference between the two lies in the timing. Withdrawal is also used in scenarios such as letters of credit, customs declarations, and quotations. For example, the applicant may withdraw an application before the letter of credit is issued, or an exporter may withdraw a customs declaration before the goods are shipped. Points to note: withdrawal must be promptly notified to the other party and must not violate contractual agreements or legal provisions; if the other party has already relied on the offer, withdrawal may constitute a breach of contract. Unlike 'revocation,' withdrawal applies to acts that have not yet taken effect, while revocation applies to acts that have already taken effect. Foreign trade practitioners should clearly distinguish between the two to avoid legal risks caused by misuse.