China And Australia Signed The Terms Of Trade To Safeguard The Interests Of Buyers And Sellers In China And Australia.

China is the world's largest buyer of wool, and Australia is the world's largest supplier of wool.

Since 1949, wool trade between China and Australia has been around for more than 60 years.

Since the implementation of reform and opening up in the last 70 years of last century, trade between China and Australia has been increasing.

As one of the main trade products between the two countries, China has been ranking the number of Australian wool producers for more than 30 years.

Since twenty-first Century, Australian wool imported annually accounts for about 80% of Australian wool exports.

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The cost of raw materials accounts for 70% of the total cost.

Therefore, how wool and textile enterprises and wool trading companies to purchase wool scientifically and reasonably, especially the purchase of Australian wool, has become an important issue.

However, due to the complicated technical background of wool fiber quality and the difference between the starting point of supply and demand and the changing market factors, friction and contradiction often exist between the supplier and the buyer in the international trade of wool.

As the largest country supplying wool to China, the Australian wool industry has long realized that establishing a stable and friendly trade relationship with China is the basic guarantee for the long-term and healthy development of the wool trade between the two countries.

For the same purpose, the two countries established a joint working group two years ago to discuss the terms of trade in wool trade which are in line with the situation of the two countries.

Over the past two years, the China Australia wool joint working group has carried out effective consultations on the changes in the pattern of the wool trade, and reached a consensus on establishing a long-term and effective communication channel between the two industry organizations and institutions and solving the problem dialogue mechanism, safeguarding the legitimate interests of both sides and stabilizing the wool trade. Finally, the paction clauses jointly signed by both sides were launched.

During the twenty-fourth China International Wool Textile raw materials trading information conference, the China Australia wool joint working group held the signing ceremony of "general terms of purchase of wool, washed wool, carbonized wool and wool tops".

The terms of the contract are signed.

A milestone in history has made up for the need to update trade rules after the change of trade environment, and it is easier to understand and operate. It will better safeguard the interests of buyers and sellers in China and Australia.

At the signing ceremony, Xu Wenying, vice president of the China Federation of textile industry, congratulated the signing of the "China Australia purchase of wool, wash wool, carbonized wool, wool and other general terms and conditions".

He said that the terms of trade is the wisdom of the Sino Australian joint working group, which is pragmatic, pragmatic and sincere in serving the industry.

The signing of the terms has milestone significance in the history of Sino Australian wool trade, making up for the need for updating trade rules after the change of trade environment. It is easier to understand and facilitate operation, and will better safeguard the interests of buyers and sellers in China and Australia in the future.

At the same time, the new terms are in line with China's actual conditions, close to the terms of the International Wool Textile Organization, and more conducive to the promotion of other major wool trading countries in China.

He hoped that wool traders in China and Australia would learn new terms, understand new terms, promote new terms, make good use of new terms, improve new terms, strengthen cooperation in depth and breadth, and promote healthy, stable and sustainable development of wool trade in China and Australia, and jointly promote the wool industry in both countries.

Yang Xiaoxiong, general manager of the Nanjing wool market, is the leader of the China - Australian wool joint working group.

According to her introduction, the terms of the paction are not mandatory clauses and must be stipulated by the buyers and sellers and stipulated clearly in the contract.

If the buyer and the Buyer agree to apply this clause, it should be stated in the sales contract that all other outstanding matters shall be subject to the general trading terms such as the purchase of wool, washed wool, carbonized wool and wool, signed by the Sino Australian Joint Working Group on September 13, 2012.

Disputes between trade parties shall be filed before their arbitration proceedings before their respective Wool Secretariat.

Chinese enterprises need to record the Nanjing wool market of the Chinese Secretariat of the joint working group on wool between China and Australia. Australian enterprises must file a record with the Australian side Secretariat of the joint working group on wool between China and Australia.

After the record, the advanced line will be settled through friendly negotiation.

If the two sides can not settle disputes through consultation, they may apply for a re examination application to the Sino Australian joint working group (JWG) or submit it to arbitration directly.

If disputes arise in the execution of the contract, the two sides can also apply to the Sino Australian Joint Working Group on wool to help settle disputes.

If the dispute can not be settled, it will be submitted to the China International Economic and Trade Arbitration Commission and shall be arbitrated according to the arbitration procedure of the Arbitration Commission.

For the contents of re examination in the new version, if any party does not agree with the inspection results of the China entry exit inspection and Quarantine Bureau, it may apply to the China Australia wool joint working group for re examination.

The China Australia team will re appoint a testing expert group (composed of professional professionals from China and Australia) to maintain the principle of fairness and independence. The expert group is the first to examine the origin and dispute resolution of disputes.

Within 60 days after receiving the application, the re examination will be completed according to the relevant inspection methods and regulations specified in this clause.

Because the combined batches do not reflect the inherent quality of wool and cover up the real data, it is not conducive to improving the quality of wool in the process of production.

This clause proposes to cancel the OML combined batch buying method when ordering the wool. At the same time, the Appendix 3 is drawn up, which roughly sets the index of the model to buy wool.

However, the annex is for reference only and does not serve as the basis for arbitration.

The factory can specify the corresponding index according to its own processing requirements.

Wang Qiang, Chinese project manager of the Australian wool Inspection Bureau, said that the terms of the paction should not be considered as a punitive clause unilaterally, but aimed at irregularities.

In fact,

"It provides a scientific and workable manual for the wool textile industry in terms of technology and trade.

The two sides of the trade will be able to draw up the contract between the two sides in a standardized and international way.

With such a clause, according to its operation, whether it is a teacher or a new apprentice, there will be no accident as long as it is strictly operated according to the operation manual.

Another commendable point is that the "trade terms" pushed the technology of Australian wool detection objectively from behind the scenes to the foreground.

Over the years, in the Sino Australian trade, people have implemented the method according to the technical specifications behind the scenes.

Such an approach is neither suitable for modern trade practices or prone to errors.

In the process, many of the traders who have been engaged in business for many years have mastered the actual quality parameters represented by the model buying wool, but it is easy to cause confusion for the new generation of young people engaged in the wool textile industry.

The new paction terms provide a comparison between the content of objective detection and traditional usage, so that practitioners can understand the relationship between them in a timely manner, so that they can more scientifically and reasonably purchase wool fibers.

Meanwhile, the China Australia wool joint working group made it clear that the birth of the terms of trade is only the beginning.

Whether the terms of trade really meet the needs of wool textile industry need to be verified in use.

The new version of paction terms will be reviewed and revised regularly (one year) based on actual usage.

At the same time, it is hoped that relevant enterprises will try their best to use the new version of "paction terms" in future sales contracts.