The Quantity of Commodity
Quantity Definition - Units of measures and weights. Quantity clause is one of the necessary conditions for the conclusion of a import/export contract.
Quantity Definition - The Quantity of Commodity
- Quantity clause is one of the necessary conditions for the conclusion of an import/export contract. United Nations Convention on Contracts for International Sale of Goods requires that the quantity of goods delivered should be identical to that called for in the contract,otherwise the buyer is entitled to reject that portion of goods excessive in quantity, and to claim against the seller if the quantity is found to be less than that called for in contract.
- Units of calculation include weight, number, length, area, volume and capacity. The quantities of many commodities are calculated by weight. Gross Weight, Net Weight, Conditional Weight, Theoretical Weight, etc.
- Since quantity terms may be ambiguous, careful definition in the sales contract is very important. The Metric System, British System, U.S. System and the International System of Units are generally used in international trade nowadays. The implementation and popularization of the International System of Units symbolizes the increasing internationalization and standardization of measurement system. But, confusion and misunderstanding on quantity measures is still not uncommon. An American Pound, for instance, is different from a European Pound; similarly, a ton has a different real weight depending on whether it is a short ton, a metric ton, or a long ton.- Quantity Definition
Quantity Definition - Units of Measures and Weights
Metric System: 1 metric ton=1,000 kilograms=1,000,000 grams
British System: 1 long ton=2,240 pounds=2,240x16=35,840 ounces
American System: 1 short ton=2,000 pounds=2,000x16=32,000 ounces
1 metric ton=0.9842 long ton=1.1023 short ton
1 long=1.0161 metric ton=1.12 short ton
1 short ton=0.9072 metric ton=0.8929 long ton
1 pound=0.4536 kilogram
For length,China use kilometer,meter,centimeter,etc.in metric system,while in British and American system,mile,yard,foot,and inch are used.
1 mile=1,760 yards=1,760x3=5,280 feet
1 meter=1.0936 yards=3.2808 feet=39.3696 inches
Area units are used in the calculation of plank, board, or leather,etc.
1 square meter=1.1956 square yards=10.7639 square feet
The units of volume are most often applied in the trade of wood, and the like.
1 cubic meter=1.308 cubic yards=35.315 cubic feet
Units of capacity are usually used in the trade of liquid goods and agricultural products.
1 liter=0.22 British gallon=0.264 American gallon
1 British gallon=4.546 liters=1.201 American gallons
1 American gallon=3.785 liters=0.833 British gallon
1 American barrel=31.5 American gallons=31.5x3.785=99.03 liters
1 British barrel=36 gallons=36x4.546=163.656 liters
1 hogshead=63 American gallons=52.5 British gallons
1 bushel=36 liters
Quantity Definition - Quantity Clause in Contract
The contractors are usually required to state clearly the quantity of the deal in a contract, expressions like "about","approximately" should not be allowed. However, in practice, there is often a More or Less clause in the contract. This is used because quite often the shipment is over-delivered or under-delivered,esp. for the trading of bulk goods. The following example of More or Less Clause can be used in contract.
- The seller has the option of shipping 4% more or less on contracted quantity.
- Goods are packed in new gunny bags containing 100 kgs and each bag shall weight 1.15 kgs with allowance of 0.1 kg more or less.
- 1,000 metric tons, 5% more or less at seller's option.
- The seller is allowed to delivery 5% more or less, the price will be calculated as per the unit price stipulated in the sales contract.
From the above-mentioned examples, the buyer and seller should clearly state the quantity delivered in the sales contract. Otherwise,some unexpected disputes may arise from the performance of contract.
Quantity Definition of Commodity Related Information
Copyright ©2006-2017 For-Your-Dream-Career.com