Sales Contract (???)
PREFACE
Since the normalization of diplomatic relations between neighbors Korea and China in 1992,
the trade relations have developed in a desired direction and the volume of trade has increased
rapidly.
In order to promote and facilitate the development of bilateral trade, the Korea-China Trade
Contract Terms Study Committee and the China Foreign Trade Contract Terms Study
Committee were respectively selected to be responsible for the task of preparing Model
Terms of Contracts for Sale of Goods ( hereinafter referred to as the "Model Terms" ).
The Model Terms, intended to be used by Korean and Chinese trading firms and corporations
in formulating their own standard contracts, were completed in December,1996.
The Model Terms are based on the current effective laws, the international treaties and the
international trade usages acceded by the two countries, as well as Incoterms, 1990 and
Uniform Customs and Practice for Documentary Credits, 1993 Revision.
In order to properly use the Model Terms, instructions are given as follows :
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