Contract Terms

Contract Terms are the specific provisions in a foreign trade contract that stipulate the rights, obligations, and transaction conditions of both parties, covering core elements such as product name, quality, quantity, packaging, price, shipment, insurance, payment, inspection, claims, force majeure, and arbitration. Their usage scenarios run through the entire foreign trade process: from quotation and negotiation to contract signing, performance, and dispute resolution. Precautions include: terms must be clear, specific, and operable, avoiding ambiguity; under different trade terms (such as FOB, CIF), the allocation of risks and costs differs and must be consistent with the contract terms; payment method terms (such as L/C, T/T) should specify in detail the time and document requirements; dispute resolution clauses should clearly specify the applicable law and arbitration institution. Differences from other terms: contract terms are the overall framework, while trade terms (such as Incoterms) only define delivery, risk, and costs; contract terms also include payment, inspection, etc., and are more comprehensive than a single term.