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WorksheetsEXPORTING AND EXPORT CONTRACT
Total questions: 10
Worksheet time: 5mins
1. Ceilings are often set for a particular time, in this case which word is better to demonstrate this meaning?
Guillotine
Schedule
Timeframe
Appointment
2. What is the function of The Ceiling?
Balancing distribution of risks and ensuring that neither party faces an excessive financial burden in case of unforeseen circumstances or contractual breaches.
Covering force majeure and the exporter's liability for consequential loss or damage incurred by the buyer.
3. The most familiar roadblocks in export contracts are set up to cover force majeure and the exporter's liability for consequential loss or damage incurred by _____
The Seller
The Buyer
The Carrier
Both the Seller and Buyer
4. "All right and duties not expressly included are excluded" is an example of road block.
True
False
5. In step 4 “Changing the Road signs”, who can reduce risks relating to product liability for the exporter?
The insurance company
The government of the Seller’s country
The Buyer
Both the insurance company and the buyer
6. This can be either an insurance company through product liability insurance, or the buyer through a/an ___________
Surety bond
Exclusion clause
Indemnification
Performance guarantee
7. Which is technique for limiting liability?
Setting a ceiling
Disallowing a certain type of claim
Disallowing any claim not expressly accepted
Agreeing to an indemnification
8. What is one of the challenges associated with using model contracts?
Model contracts are too specific and restrictive.
Model contracts are not legally binding.
Model contracts do not offer any guidance.
Model contracts may not be suitable for every jurisdiction.
9. Limitation clauses are not enforced if they try to limit liability for fundamental breach of contract, fraud, or breach of ___________
Applicable law
Trust
Warranty
Confidentiality
10. According to the information provided, what should the parties do if there is any doubt about the validity or enforceability of any clause in the model contract?
Consult the author of the model contract for guidance.
Rely on the publisher's guarantee for legal advice.
Seek appropriate legal advice together or separately.
Modify the clause without seeking legal advice.
