The price clauses in import and export contracts generally include two basic contents: unit price and total amount. The unit price of imported and exported goods usually consists of four items: unit of measurement, unit price amount, pricing currency, and trade terms. For example: USD 1100.00 per M/T CIF New York, “USD” is the pricing currency, “1100.00” is the unit price amount, “per M/T” is the unit of measurement, and “CIF New York” is the trade term. The total value refers to the product of the unit price and the number of goods sold, that is, the total amount of the goods for a transaction.
In addition, sometimes price clauses also include commissions, discounts, and pricing methods. The following are examples of the expression of prices and price terms in a transaction contract:
(1) Unit Price
GBP￡500 per set CIF Liverpool, Britain
US$100 per set CFR Singapore
EUR€1450 per M/T CIFC1.5%Amsterdam
(2) Total Amount
GBP￡175,000 only; One Hundred Seventy Five Thousand Great British Pounds Only.
(3) Price terms in a contract
The price terms shall state both the unit price and the total amount of the goods. Specific writing method: Unit Price: USD9.9 per dozen FOB Ningbo, China
Total Amount: USD99,000only; Ninety Nine Thousand US Dollars Only.