EXPORTING AND EXPORT CONTRACT

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.