国际贸易实务(英文版)(第二版)3-Export-Price.ppt

ChapterThree,ExportPrice,SEIBOFGDUFS,2,3.1Expressionofexportprice,Fourcomponentsinastandardformatofaprice:Acodeofcurrency:USD,CAD,CNY,EUR,GBPAnumberindicatingthepriceunitAunitformeasuringquantity:kg,gr,m/t,yd,setAcertaintradeterm:FOB,CFR,CIFExamples:USD225.30/pieceCIFNewYorkFOBGuangzhouEUR12.80/set,SEIBOFGDUFS,3,3.2Pricingconsiderations,CostCostofproductionDirectcost:materialcosts,labourcosts,allocationoffixedcosts,packingcosts,etc.Administrativecosts:overheadCostofsalesMarketingcosts:advertising,salestripexpenses,commissionsintermediaryservicesCostofdeliveryWarehousingandtransportingcharge,insurancepremium,taxesandtariffs,customsduties,SEIBOFGDUFS,4,3.2Pricingconsiderations,AnticipatedprofitmargininanabsolutenumberinapercentageprofitmarginCapabilityoftargetmarketReferringtotheconsumptionpower,incomelevel,supplyanddemandrelationshipThehigherthecapitalincomeofthetargetmarket,thehigherthepricePaymenttermsThelowerthefinancingcharges,thehighertheriskofpaymentOtherfactorstobeconsideredforeignexchangeratesinternationalmarketpriceforsimilarproductspoliciesandregulationsinaparticularmarketarea,SEIBOFGDUFS,5,3.3Calculationofprice,Table3.1CostingWorksheet,SEIBOFGDUFS,6,3.3Calculationofprice,SEIBOFGDUFS,7,3.3.1FOBPrice,Table3.2FOBCostingWorksheet,FOBinfreightcurrencyFOBinfreightcurrency=(TotalCost+Profit)/ExchangeRate,FOBinlocalcurrency,SEIBOFGDUFS,8,3.3.2CFRPrice,IfFOBpriceisavailableCFR=FOB+OceanFreightOceanfreightProvidedbyshippinglinesQuotedaspackagedpriceOtherslike“additionals”and“surcharges”,SEIBOFGDUFS,9,3.3.3CIFPrice,IfFOBpriceisavailableCIF=FOB+OceanFreight+InsurancePremiumIfCFRpriceisavailableCIF=CFR+InsurancePremiumCalculationofInsurancePremium(I)Basedoncontractvalue/invoicevalue+Amarkup(normally10%)tocoverincidentalcostsFormula:I=CIFx(1+10%)xPremiumRate(R)ThereforeCIF=CFR+CIFx(1+10%)xPremiumRate(R)orCIF=CFR/(1110%xR),SEIBOFGDUFS,10,ConversionofFOB,CFR&CIFPrices,ConversionofFOBtootherpricesCFR=FOB+FCIF=(FOB+F)/1(1+markup)xRConversionofCFRtootherpricesFOB=CFRFCIF=CFR/1(1+markup)xRConversionofCIFtootherpricesFOB=CIFx1(1+markup)xRFCFR=CIFx1(1+markup)xR,SEIBOFGDUFS,11,3.3.4Priceincludingcommission,Netprice=basiccosts+profitCommissionAnincentivepaymentmadetothemiddlepersonsfortheirintermediaryservicesExpressedinafixedfigureorinapercentageExamplesCFRLondonGBP100perdoz,including2%commissionUSD200perM/TCIFC2%LondonCIFC3HamburgUSD100/setCAD150perM/TFOBToronto,includingCAD8perM/Tcommission,SEIBOFGDUFS,12,3.3.4Priceincludingcommission,Twowaysofcalculatingcommissionbasedoninvoice/contractvalueC=contractvaluexCratebasedonFOBorFCA:UndersuchtermsasCFR,CIF,CiscalculatedbeforeFandIaredeductedFormula:C=priceincludingC(FOB/FCA)xCrateNetprice=priceincludingC(FOB/FCA)C=priceincludingCx(1-Crate)PriceincludingC(FOB/FCA)=netprice/(1-Crate),SEIBOFGDUFS,13,3.3.5Pricewithdiscount,Discountacertainpercentofpricereduction,aspecialfavorgivenbytheexportertotheimporterReasonsfordiscounting:ToincreasemarketcompetitivenessTogetridofstockedgoodsAsamotivatorforBtointroducegoodsintonewmarketsAsacompensationforsettlingdisputesorpreviousorders,SEIBOFGDUFS,14,3.3.5Pricewithdiscount,Discountexpressedin%orfixednumberUSD200perM/TCIFNewYorkless3%discountCIFD3NewYorkGBP200perM/TEUR200perunitCIFLondonincluding1%discountCalculationBasedonthecontractvalueDiscount=contractpricexdiscountrateActualprice=contractpricediscount=contractpricex(1-discountrate),SEIBOFGDUFS,15,ConversionofPrice,SEIBOFGDUFS,16,3.4Understandingtheprice,ExportprofitmarginaratioformeasuringprofitabilityofanexporttransactionStandingforhowmuchprofitcanbegeneratedforeveryunitofcurrencyinsalesFormulaasfollows:,Note:FigurescalculatedinexporterslocalcurrencyExportrevenueandcostexcludingoverseastransportchargesandinsurancecostThehighertheExportProfitMargin,themoreprofitablethetransactionis.,SEIBOFGDUFS,17,3.4Understandingtheprice,Exportcostforforeignexchange(ECFFE)InterpretingprofitabilitywithcurrencyfactorSandingforhowmanyunitsoflocalcurrencytheexportershouldpaytomakeoneunitofforeigncurrencyFormulaasfollows:,Note:ThelesstheECFFEis,themoreprofittheexportercanmakeSeeExampleonPage65,SEIBOFGDUFS,18,WordingofPricesinContract,HKD100perdozEXWGUANGZHOU(5BeijingRoad)CAD200pergrFCAToronto(Airport)EUR150perprFOBShanghaiJPY600perlbFASTokyoAUD120perpcCFRSydneyCHF300persetCarriagePaidTo5MapleRd.Geneva(sea/airshipment:fromGuangzhoutoDubaibysea,thenbyairtoGeneva)USD250persetDeliveredatSino-MongolianFrontier(Erlian)EUR350perM/TDESGuangzhouGBP500perunitDEQLondon,SEIBOFGDUFS,19,3.5CommunicationofPrice,StagesinvolvedInquiry/InvitationtoofferOffer/QuotationCounter-offerAcceptance,SEIBOFGDUFS,20,3.5.1Inquiry,Definition:Apotentialclientasksforinformationfromthecounterparttohisintentioninbuyingorsellingofacertaincommodity.CanbeinitiatedbybothimportersandexportersCanbemadefromonetooneorseveralExpressinganintentionoftransactiononlyNoobligationtoprogressthetransaction(inquirer)&noobligationtoanswer(inquiredparty),SEIBOFGDUFS,21,3.5.2Offer/Quotation,Definition:asufficientlydefiniteproposaladdressedtooneormorespecificpersonsforconcludingacontract,necessarilyindicatingtheintentionoftheofferortobeboundincaseofacceptance.DeterminantsofanofferOneaddressedtooneormorespecificpersonsSufficientlydefinite:indicatingthegoods,expresslyorimplicitlyfixingormakingprovisionfordeterminingquantityandpriceIndicatingtheintentionoftheofferortobeboundincaseofacceptance,SEIBOFGDUFS,22,3.5.2Offer/Quotation,Whenitreachestheofferee,itbecomeseffectiveValidityperiodByafixeddateforacceptanceByaperiodoftimeforacceptanceWithdrawalofanofferBeforeoratthesametimeoftheofferreachingtheofferee,SEIBOFGDUFS,23,3.5.2Offer/Quotation,RevocationofanofferBeforeoffereedispatchesacceptanceException:Whenitisirrevocable:eg.havingfixedtimeforacceptanceWhenoffereereliesonitandhasacted.TerminationofanofferLegallyrevokedbyofferorNotacceptedbyoffereewithinvalidity/reasonableperiodRejectedorcounter-offeredbyoffereeOtheruncontrollableevents,SEIBOFGDUFS,24,3.5.3Counter-offer,Definition:areplytoanofferwhichcontainsadditions,limitationsofothermodifications.ArefusalorrejectiontotheoriginalofferoriginalofferterminatesautomaticallyCounter-offercanbemadeforseveraltimesbeforethefinalacceptance.Possibleaspectsofmodifications:Price,paymentQuality,quantityofgoodsPlace&timeofdeliveryExtentofonepartysliabilitytotheotherSettlementofdispute,SEIBOFGDUFS,25,3.5.4Acceptance,Anacceptanceisanunconditionalstatementmadeformallybyoranactionconductedbytheoffereeindicatingassenttoanofferorcounter-offer.AcceptancetobemadewithinthevalidityperiodorreasonabletimeSilenceorinactivitydoesnotinitselfamounttoacceptance.Effectiveatthemomentitreachestheofferorwithinthefixed/reasonabletimeAcontractisconcludedatthemomentwhenanacceptanceofanofferbecomeseffective.,SEIBOFGDUFS,26,Example:PriceCommunication,E30/6Yourfaxdated29th:weofferuntil4/7here200M/TCIFUSD1950,immediateshipmentandpaymentbysightL/C.I2/7yourfaxdated30th:clientisinterested.Butdiscussiontakestimeandweneedoffertobevalidfor10days.Anypossibilitytoincreasequantityandtodecreaseprice?E3/7Yourfaxdated2nd:quantitycanbeincreasedto300M/T,offervaliduntil15/7hereI9/7yourfaxdated3rd:pleaseairmail2KGsamplesandconsiderfurtherincreaseofquantityanddecreaseofprice.E10/7yourfaxdated9th:sampleshavebeensent.Weofferyouaspecialpriceof1900.Pleasereplypromptly.,SEIBOFGDUFS,27,I14/7yourfaxdated10th:pleasefurtherdeferthefirmofferof300M/TUSD1900sincethesamplesarenotreceivedyet.Decisionwillbeavailableoneweekafterthereceiptofsamples.E17/7Yourfaxdated14th:weagreetoextendthevalidityperiodto25/7.I22/7yourfaxdated17th:weacceptyourofferof300M/TCIF1900.Pleasearrangeimmediateshipment,paymentbyL/C.CertificateofOriginandseaworthypackingshouldbeprovided.E24/7yourfaxdated22nd:marketchanged.Goodshadbeensoldbeforewereceivedyourfax.,Example:PriceCommunication,SEIBOFGDUFS,28,I25/7yourfaxdated24th:difficulttoacceptyourapology.Yourfaxdated17thagreedtoextendthevalidityperiodto25th.Yourwithdrawaloffirmoffergoesagainstpractice.Ifyouwanttoadjustyourpricewecannegotiatewithclientwithnoguaranteeofacceptance.E29/7Yourfaxdated25th:wearesorrybutthe300M/Thavebeensoldalready.Thebestwecandonowistoprovide200M/T2650,shipmentduringAug/Sep,subjecttoyourreplyhereby31st.I30/7yourfaxdated29th:wecannotacceptyournewofferandreserveourrightofarbitration.Our22ndfaxalreadyacceptedyourfirmofferof300M/T.ShipmentduringAug/Sepisagreed.OtherwisewewillclaimcompensationofUSD232950(2650-1900)X300.,Example:PriceCommunication,SEIBOFGDUFS,29,E2/8Yourfaxdated30th:ourfaxdated17thonlyagreedtodefertheofferuntil25/7,butwithnoindicationthatitwas