Chng 1:

CC PHNG THC GIAO DCH TRN TH TRNG TH GII

CN. NGUYN CNG KHOA KT&KDQT

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TI LIU THAM KHO Gio trnh Giao dch thng mi quc t, NXB Gio dc 2007 Lut Thng mi 2005 B Lut Dn s 2005 Lut u thu 2005 Cc vn bn php lut hng dn thi hnh Lut Cng c Lin hp quc v Hp ng mua bn hng ha quc t - Cng c Vin 1980.

I. PHNG THC GIAO DCH THNG THNG

c trng Thc hin trn nguyn tc t nguyn, t do ng tin thanh ton c th l ngoi t ca t nht 1 bn Ch th c tr s thng mi cc quc gia khc nhau Hng ha di chuyn qua bin gii/ bin gii hi quan quc gia

1. Phng thc giao dch trc tip 1.1. Hi gi Xt v mt php l: Li thnh cu bc vo giao dch ca bn Mua Xt v mt thng mi: Bn mua ngh bn bn bo cho mnh bit gi c ca hng ha v cc iu kin mua hng. 1.2. Cho hng a. Khi nim: Cho hng l li ngh k kt hp ng xut pht t bn bn

b. Hnh thc: Vn bn, li ni, hnh vi c th c. Phn loi c.1.CHO HNG C NH Xc nh y cc yu t cn thit ca hp ng Th hin ch ca bn cho mun c rng buc v hp ng
c.2. CHO HNG T DO Li ngh gi cho nhiu ngi. Khng rng buc trch nhim ca bn cho hng. Th hin trn b mt l cho hng t do

c.3. PHN BIT CHO HNG C NH V CHO HNG T DO Tiu cho hng Ni dung C s vit th Bn nhn cho hng Thi hn hiu lc cho hng

d. iu kin hiu lc ca cho hng Bn c cho nhn c cho hng Cho hng hp php: Ch th, ni dung, hnh thc, i tng

e. Thu hi, hy b cho hng Cho hng s mt hiu lc khi ngi c cho hng nhn c thng bo v vic hy cho hng trc hoc cng thi im nhn c cho hng. Cho hng c nh khng th hy b n nh thi gian tr li n nh khng th hy ngang Bn c cho hnh ng trn c s tin tng cho hng l khng th hy ngang.

1.3. t hng
CH c nh xut pht t pha ngi mua

1.4. Hon gi Hon gi l s mc c v gi c v cc iu kin giao dch. Hon gi bao gm nhiu s tr gi.

1.5. Chp nhn cho hng a. Khi nim L s ng cc ni dung ca cho hng m pha bn kia a ra, th hin ch ng tnh ca pha bn kia k kt hp ng. Hnh thc chp nhn Chp nhn v iu kin Chp nhn c bo lu Thay i ni dung ch yu ca cho hng Khng thay i ni dung ch yu ca cho hng b. Tnh hiu lc ca chp nhn cho hng Ngi nhn gi cui cng chp nhn Chp nhn khng c s ph thuc vo mt vi bc tip theo m cc bn thc hin

Chp nhn trong thi hn hiu lc ca cho hng Chp nhn phi c truyn t n ngi pht ra ngh Chp nhn cho hng c hiu lc th Hp ng c k kt. c. Hnh thc: Li ni, hnh vi hoc vn bn. d. Chp nhn cho hng v hiu Thng bo hy cho hng n bn c cho trc hoc cng lc chp nhn cho hng c hiu lc. 1.6. Xc nhn mua bn hng

2. Phng thc giao dch qua trung gian 2.1. Khi nim L phng thc thit lp mi quan h gia ngi bn v ngi mua thng qua ngi th ba l Trung gian thng mi. Lut TM 2005, 3: Cc hot ng trung gian thng mi l hot ng ca thng nhn thc hin cc giao dch thng mi cho mt hoc mt s thng nhn c xc nh, bao gm hot ng i din cho thng nhn, mi gii thng mi, y thc mua bn hng ha v i l thng mi.

2.2. c im TGTM l cu ni gia sn xut v tiu dng, ngi bn v ngi mua Trung gian thng mi hnh ng theo s u thc Tnh cht ph thuc Li nhun chia s u im y mnh hot ng bun bn v trnh ri ro ti nhng th trng mi Tit kim c chi ph u t trc tip y mnh hot ng bn hng thng qua cc dch v ca ngi trung gian. Tit kim chi ph vn ti. Khuyt im Mt s lin h trc tip vi th trng Li nhun b chia s. Ri ro ln nu la chn nhm ngi trung gian. i khi b trung gian i hi, yu sch.

iu kin s dng giao dch Thm nhp vo th trng mi. Khi gii thiu v kinh doanh mt hng mi. Tp qun th trng i hi phi qua trung gian. Mt hng cn s chm sc c bit : hng ti sng,..

2.3. Cc loi hnh trung gian thng mi 2.3.1. Mi gii Khi nim: 50 Lut TMVN 2005 Mi gii l thng nhn lm trung gian cho cc thng nhn khc trong vic m phn, giao kt Hp ng v c hng th lao theo Hp ng.
Mi gii: L mt thng nhn lm trung gian cho cc bn mua bn hng ha, cung ng dch v trong vic m phn, giao kt Hp ng mua bn hng ha, dch v v c hng th lao theo Hp ng.

c im: Mi quan h gia ngi mi gii v ngi y thc da trn s y thc tng ln.

Ngi mi gii khng i din cho quyn li ca bn no

Mi gii khng ng tn trn Hp ng Mi gii khng tham gia thc hin Hp ng 2.3.2. i l Khi nim:

Lut Thng mi 2005 : i l thng mi l hot ng thng mi, theo bn giao i l v bn i l tha thun vic bn i l nhn danh chnh mnh mua, bn hng ha cho bn giao i l hoc cung ng dch v ca bn giao i l cho khch hng hng th lao.

- i l l thng nhn tin hnh mt hay nhiu hnh vi theo s y thc ca ngi y thc. Quan h gia ngi y thc v i l l quan h Hp ng i l.

c im: i l ng tn trong Hp ng Mi quan h gia ngi y thc v i l l mi quan h di hn. Bn u thc l ngi ch s hu v hng ho hay tin t c giao cho ngi i l. 170 Lut TM 2005: Quyn s hu trong i l thng mi Bn giao i l l ch s hu i vi hng ho hoc tin giao cho bn i l. Phn loi Cn c vo mi quan h gia ngi y thc v l + i l th y + i l hoa hng + i l gi bn + i l kinh tiu

i l Danh -i l th u ngha (mandatory) -ngi u thc - i l hoa hng -chnh (commision mnh - i l kinh tiu (merchant agent)

Chi ph -ngi u thc

Tin th lao - mt khon tin -% kim ngch % gi mua, gi bn hng ho dich v

-

ngi u thc
-

- chnh mnh

- chnh mnh

chnh lch gia gi bn v gi mua

-

Cn c vo phm vi quyn hn ca i l + i l ton quyn + Tng i l + i l thng + i l c bit + i l c quyn Cn c vo lnh vc hot ng ca i l + i l xut khu + i l nhp khu + i l giao nhn + i l lm th tc hi quan,

Hp ng i l Hnh thc: Vn bn
.168 Lut TM 2005: Hp ng i l phi c lp thnh vn bn hoc bng hnh thc khc c gi tr php l tng ng.

1) 2) 3) 4) 5) 6)

7)
8) 9) 10)

Ni dung Phn m u Ngy hiu lc v ht hn H Sn phm Khu vc lnh th Quyn v ngha v bn i l Quyn v ngha v ca bn y thc Gi c Th lao v chi ph Thanh l hp ng v cc quy nh v chm dt H Ch k cc bn.

II. MUA BN I LU 1. Khi nim: Mua bn i lu l phng thc giao dch trao i hng ha trong xut khu gn lin vi nhp khu, ngi bn ng thi l ngi mua, lng hng giao i c tr gi bng lng hng nhn v. 2. c im Xut khu gn lin vi nhp khu Quan tm ti gi tr s dng ca hng ha trao i ng tin lm chc nng tnh ton m bo s cn bng Cc yu cu cn bng

3. Cc loi hnh mua bn i lu 1) Hng i hng: C in/ Hin i 2) Nghip v b tr Khi nim: Phn loi: Cn c vo thi hn giao hng i lu + B tr trc + B tr song hnh Cn c vo s cn bng gia tr gi hng giao v tr gi hng i lu + B tr mt phn + B tr ton phn + B tr c ti khan bo chng

3) Nghip v thanh ton hnh bnh hnh Bnh hnh t nhn Bnh hnh cng cng 4) Nghip v mua i lu
Xut khu hng ho X A Cam kt A nhp hng ho Y trong tng lai B

5) Giao dch bi hon

L giao dch m ngi ta i hng ha v /hoc dch v ly nhng dch v v u hu

6) Nghip v mua li sn phm

Bn cung cp thit b tan b, v/hoc sng ch hoc b quyt k thut (knowhow) cho bn khc, ng thi cam kt mua li nhng sn phm do thit b hoc sng ch hoc b quyt k thut ch to ra. ??? So snh mua li v mua i lu?

7) Nghip v chuyn n
Bn nhn hng khng thanh ton m chuyn khan n v tin hng cho mt bn th ba bn th ba ny tr tin

4. Hp ng i lu
a. Hnh thc Mt hp ng vi hai danh mc hng ha Hai hp ng, mi hp ng c mt danh mc Vn bn quy nh nhng nguyn tc chung ca vic trao i ( trn c s k kt cc hp ng mua bn c th): Vn bn nguyn tc ( MOU, frame contract, frame aggrement) b. Ni dung: Danh mc hng ha ( giao v nhn), s lng v tr gi, gi c v cch xc nh, iu kin giao hng,...

c. Cc bin php bo m thc hin Pht Bn th ba khng ch Th tn dng i ng

III. GIAO DCH TI XUT 1. Khi nim: Giao dch ti xut khu l vic bn li hng ha nhp khu trc y nhm mc ch kim li. 2. c im Hng ha cha qua bt k mt khu gia cng, ch bin no. Mc ch thu v mt s ngoi t ln hn vn b ra ban u. Giao dch lun c s tham gia ca 3 bn Giao dch tam
gic

Hng ha c cung cu ln v bin ng thng xuyn Hng u i v thu v hi quan.

3. Cc loi hnh ti xut 3.1. Ti xut ng thc ngha (tm nhp ti xut) Khi nim: 29 LTM VN 2005
Hng

Nc xut khu
Tm nhp

Tin

Nc ti xut Lm th tc NK v XK

Ti xut

Nc nhp khu

N 12/2006/N-CP - Hng tm nhp ti xut phi lm th tc hi quan khi nhp khu vo Vit Nam v chu s gim st ca hi quan cho ti khi thc xut khu ra khi Vit Nam. - Thi gian tm nhp cho ti khi ti xut khng qu 120 ngy k t ngy hon thnh th tc hi quan tm nhp. C th xin php Cc hi quan cp tnh/thnh ph ko di thi gian tm nhp ti a 2 ln, mi ln khng qu 30 ngy. u nhc im??

3.2. Chuyn khu Khi nim: 30 LTM VN 2005

Nc xut khu
(2) (1)

Hng
Tin

Nc ti xut Khng lm th tc NK v XK
Ca khu trung chuyn
(2)

Nc nhp khu

Kho ngoi quan hoc Khu vc trung chuyn hng

(1): Chuyn khu cng khai: Hng ho c vn chuyn thng t nc xut khu n nc nhp khu khng qua ca khu nc ti xut Gi nguyn B/L, ch thay ho n thng mi Ngi chuyn khu t chu ri ro ch ph D l ngun hng (2): Chuyn khu b mt: Hng ho c vn chuyn t nc xut khu n nc nhp khu c qua ca khu nc ti xut, c hoc khng a vo kho ngoi quan, khu vc trung chuyn hng ho ti cc cng nc ti xut, khng lm th tc nhp khu vo v khng lm th tc xut khu ra khi nc ti xut. Ngi chuyn khu v ngi nhp khu chu nhiu ri ro hn Kh b l ngun hng Khi nim Kho ngoi quan: 4 Lut Hi Quan 2005 iu kin kinh doanh chuyn khu: 15 N12-CP

4. Thc hin giao dch ti xut K kt Hp ng: 2 hp ng ring bit nhng c quan h mt thit Quy nh cc bin php bo m thc hin H + t cc + Pht + Th tn dng gip lng ( back to back L/C)
Bn xut khu
L/C Gip lng

Bn nhp khu
L/C Gc

Bn ti xut

IV. GIA CNG QUC T 1. Khi nim 178 - Lut Thng mi 2005: - Gia cng trong thng mi l hot ng thng mi, theo bn nhn gia cng s dng mt phn hoc ton b nguyn liu, vt liu ca bn giao gia cng thc hin mt hoc nhiu cng on trong qu trnh sn xut theo yu cu ca bn giao gia cng hng th lao. - Gia cng quc t l gia cng thng mi c yu t nc ngoi, th hin: + Bn giao gia cng v bn nhn gia cng: C tr s thng mi hai nc khc nhau hoc hai khu vc hi quan ring theo quy nh ca php lut. +Nguyn liu, bn thnh phm v thnh phm di chuyn qua bin gii. - Gia cng quc t l mt hot ng kinh doanh thng mi trong mt bn (gi l bn nhn gia cng) nhp khu nguyn liu, bn thnh phm ca mt bn khc ( gi l bn t gia cng) ch bin thnh ra thnh phm, giao li cho bn t gia cng v nhn th lao ( gi l ph gia cng).

2. c im Tin th lao gia cng tng ng vi lng lao ng hao ph lm ra thnh phm. Quyn s hu v nguyn vt liu, bn thnh phm giao gia cng thng vn thuc v bn giao gia cng Hng u i v thu v hi quan

3. Cc loi hnh gia cng quc t 3.1. Cn c vo quyn s hu nguyn liu a. Giao nguyn liu, nhn thnh phm Bn t gia cng giao nguyn liu, bn thnh phm cho bn nhn gia cng v sau thi gian sn xut, ch to, s thu hi thnh phm v tr ph gia cng. Trong thi gian ch to, gia cng quyn s hu v nguyn vt liu vn thuc v bn t gia cng.
t gia cng
1

Nhn gia cng

b. Mua nguyn vt liu, bn thnh phm B1. Bn t gia cng bn nguyn vt liu cho bn nhn gia cng v sau thi gian sn xut, ch to s mua li thnh phm, v cc bn c tin hnh vic thanh tan th coi nh l hai hp ng mua bn ring bit v c s chuyn quyn s hu nguyn vt liu t bn t gia cng sang bn nhn gia cng . - Nu khng c quy nh g th bn nhn gia cng vn c quyn khng ch thnh phm. V vy cc bn cn lu trong hp ng rng buc trch nhim v ngha v ca cc bn trong vic qun l, kim sat v s dng hng ha.
t 1 gia 4 cng 4 Nhn gia 3 3 cng 33
2 2

B2. Bn t gia cng cho hng mu m sn phm

v h tr ti liu k thut. Bn nhn gia cng trn c s t tm ngun nguyn vt liu u vo (c th nhp khu t bn giao gia cng hoc khng). Bn nhn gia cng khi han thnh s giao thnh phm cho bn t gia cng. i vi hnh thc ny trong Hp ng thng quy nh trch nhim tiu th thnh phm thuc v bn t gia cng.
t gia cng
1 11 3 4

Nhn gia cng

Bn nguyn vt liu

c. Hnh thc kt hp 3.2. Cn c vo gi c gia cng a. Hp ng thc chi, thc thanh ( Cost Plus Contract) b. Hp ng khan: Xc nh mt gi nh mc (target price) cho mi sn phm, bao gm chi ph nh mc v th lao nh mc. Quy nh gi gia cng.

CMT ( Cutting, Making , Trimming) CMP ( Cutting, making , packing) CMQ ( cutting, making , quota) CMTQ, CMPQ

3.3. Cn c vo s bn tham gia a. Gia cng hai bn (gia cng gin n) b. Gia cng nhiu bn ( gia cng chuyn tip): bn nhn gia cng l mt s doanh nghip m sn phm gia cng ca n v trc l i tng gia cng ca n v sau , cn bn t gia cng vn ch l mt.
t gia cng 1 2 3 3 3 Nhn gia cng chuyn tip Nhn gia cng

N12/2006/N-CP. .34. Gia cng chuyn tip Thng nhn c quyn gia cng chuyn tip. Theo :1. Sn phm gia cng ca hp ng gia cng ny c s dng lm nguyn liu gia cng cho hp ng gia cng khc ti Vit Nam.2. Sn phm gia cng ca hp ng gia cng cng on trc c giao cho thng nhn theo ch nh ca bn t gia cng cho hp ng gia cng cng on tip theo.

4. Hp ng gia cng 4.1. Khi nim Hp ng gia cng l s tho thun gia cc bn, theo bn nhn gia cng thc hin cng vic to ra sn phm theo yu cu ca bn t gia cng, cn bn t gia cng nhn sn phm v tr tin cng. 4.2. Hnh thc: 179 LTM VN 2005: Vn bn 4.3. Ni dung 1) Tn v a ch cc bn 2) Sn phm gia cng 3) Gi gia cng

4)

Thi hn v phng thc thanh ton Tin mt Chuyn tin Nh thu + Nhn nguyn vt liu: D/A + Giao thnh phm: D/P Th tn dng + Nhn NVL, giao thnh phm: Bn nhn gia cng m L/C tr chm, bn t gia cng m L/C tr ngay (L/C d phng) + Mua NVL, bn thnh phm: Bn nhn gia cng m L/C tr ngay v bn t gia cng m L/C tr ngay.

L/C d phng Standby L/C

NH bn t gia cng (2) NH bn nhn gia cng

(5)

(3) (4)

(1)

(7)

Bn t gia cng (8)

Bn nhn gia cng

(1) (2) (3): Bn nhn gia cng m L/C tr chm, tr tin nguyn vt liu (L/C con nt-Baby L/C). (4): Bn t gia cng giao nguyn vt liu chnh (5) (6) (7): Bn t gia cng m L/C tr ngay, tr tin cho thnh phm ( L/C ch Master L/C) (8) : Bn nhn gia cng giao thnh phm, thanh ton tin v tr i tr gi L/C con nt.

5)

6)

7)

8) 9) 10)

Danh mc, s lng, tr gi nguyn liu, ph liu, vt t nhp khu v nguyn liu, ph liu, vt t sn xut trong nc (nu c) gia cng; nh mc s dng nguyn liu, ph liu, vt t; nh mc vt t tiu hao v t l hao ht nguyn liu trong gia cng Danh mc v tr gi my mc thit b cho thu, cho mn hoc tng cho phc v gia cng Bin php x l ph liu, ph thi v nguyn tc x l my mc, thit b thu mn, nguyn liu, ph liu vt t d tha sau khi kt thc HGC a im v thi gian giao hng Nhn hiu hng ha v tn gi xut x Thi hn hiu lc H

5. Bin php m bo thc hin hp ng - Bo lnh - Pht - L/C d phng Bi tp 6. u/ Nhc im?????????

V. CC PHNG THC GIAO DCH C BIT 1. U GI 1.1. Khi nim: 185 LTM VN 2005 u gi l hot ng thng mi, theo ngi bn hng t mnh hoc thu ngi t chc u gi thc hin vic bn hng ha cng khai chn ngi mua tr gi cao nht. 1.2.c im: T chc cng khai mt ni nht nh, ti thi im xc nh Ngi mua c xem hng trc v t do cnh tranh Th trng thuc v ngi bn Hng ha: Kh tiu chun ha v/hoc hng ha qu him, c o c gi tr ln. Ngi t chc u gi c th

l ngi bn hng ha, hoc l ngi kinh doanh dch v u gi hng ha.

1.3. Phn loi u gi thng nghip u gi phi thng nghip 1.4. Phng thc tin hnh a. C ting ni Tr gi ln (kiu c) t gi xung (kiu H Lan) b. Khng c ting ni 1.5. Cch thc tin hnh u gi Bc 1: Chun b u gi K H t chc Chun b hng ho Xy dng th l u gi Thng bo, nim yt thng tin Bc 2: Trng by hng ha Bc 3: Tin hnh u gi Bc 4: Lp vn bn bn u gi v giao hng ha

2.U THU 2.1. Khi nim: 214 Lut TM 2005 u thu hng ha, dch v l hot ng thng mi, theo mt bn mua hng ha, dch v thng qua mi thu (gi l bn mi thu) nhm la chn trong s cc thng nhn tham gia u thu (gi l bn d thu) thng nhn p ng tt nht cc yu cu do bn mi thu t ra v c la chn k kt v thc hin hp ng (gi l bn trng thu). 2.2. c im Hng ha: Tr gi cao, khi lng ln v a dng, hu hnh v v hnh Phng thc giao dch c bit B rng buc bi cc iu kin vay v s dng vn

2.3.Cc hnh thc u thu Cn c vo s lng nh thu tham gia u thu rng ri: 18 Lut u thu 2005 - Khng s tuyn - C s tuyn u thu hn ch - Trng hp p dng: 19 Lut u thu 2005 + Yu cu bn cho vay + K thut cao, nghin cu th nghim + Ti thiu phi mi 5 nh thu Ch nh thu
- Trng hp p dng: 20 Lut u thu 2005 + S c nghim trng cn khc phc ngay + Yu cu bn cho vay + B mt quc gia + m bo s tng thch

Cn c vo phng thc u thu

- u thu 1 giai on u thu 01 ti h s u thu 02 ti h s - u thu 2 giai on: 26 Lut u thu

2005

Cn c vo i tng u thu cung ng dch v u thu mua sm hng ha

Cn c vo hnh thc Hp ng Hnh thc trn gi Hnh thc theo n gi Hnh thc theo t l phn trm Hnh thc theo thi gian 2.4. Cch thc tin hnh 1) Chun b u thu 2) S tuyn 3) Ch dn, gii p thc mc cho nh thu 4) Thu nhn v qun l h s d thu 5) M thu

6) 7) 8)

9)

So snh v nh gi h s d thu Xp hng v la chn nh thu Thng bo kt qu v k kt Hp ng Bn trng thu t cc, k qu hoc np bo lnh thc hin H.

Quy trnh nghip v u thu

Bn d thu Tip nhn Bn mi thu K hoch u thu Thng bo mi thu C quan qun l Duyt

Lm n xin d thu
Mua HSDT Np HSDT+t cc Tham d K H

S tuyn ln danh sch ngn

Bn HSDT Gii p thc mc Tip nhn M thu nh gi K H

Duyt
Duyt

Ph duyt Ph duyt

VI. S GIAO DCH HNG HA 1. Khi nim S giao dch hng ha l mt th trng c bit ti thng qua nhng ngi mi gii do S giao dch ch nh, ngi ta mua bn cc loi hng ha c khi lng ln,c tnh cht ng loi,c phm cht c th thay th c cho nhau. 2. c im: Giao dch din ra ti a im, thi gian c nh Hng ha: Tnh cht ng loi, tiu chun ha cao, khi lng mua bn ln, d dng thay th cho nhau.

Vic mua bn thng qua mi gii mua bn S giao dch ch nh. Vic mua bn tun theo nhng quy nh, tiu chun ca S giao dch. S giao dch hng ha tp trung cung v cu v mt mt hng giao dch trong mt khu vc, mt thi im nht nh, th hin c s bin ng ca gi c. Ch yu l giao dch khng 3. Cc loi hnh giao dch ti SGDHH 3.1. Giao dch giao ngay ( Spot Transaction): Hng ha c giao ngay v tr tin vo lc k kt hp ng.

3.2. Giao dch k hn ( Forward Transaction) Giao dch m gi c c n nh vo lc k kt H nhng vic thc hin H (giao hng v thanh tan) c tin hnh sau mt k hn nht nh, nhm mc ch thu li nhun do chnh lch gi gia lc k kt H v lc thc hin H. - Giao dch theo hnh thc ny ch yu l giao dch khng do nhng ngi u c thc hin. C hai loi u c: u c gi ln (bull) v u c gi xung (bear). - Cc bn c th linh hot thc hin nghip v han mua hoc hon bn bng cc khan n b han mua (do bn mua tr cho bn bn) v khan n b han bn (do bn bn tr cho bn mua), han ngy thanh tan n k hn sau.

V d Giao dch k hn (1): Ngy 1/10, k H k hn 1 thng bn 10MT hng ho X vi gi 500$/MT (2): Ngy 30/10, gi hng ho X trn th trng gim xung cn 400$/MT: Ngi bn (Bear) li 1000$, ngi mua (Bull) l 1000$. Ngi bn nhn 1000$ do ngi mua np ti phong thanh ton b tr

Ngi bn - Bear
2 2

1 2

Ngi mua - Bull

Phng thanh ton b tr

3.3. Nghip v t bo him ( Hedging) L nghip v mua bn m bn cnh vic mua bn thc t ngi ta tin hnh cc nghip v mua bn khng ti SGD nhm trnh c nhng ri ro do bin ng v gi c. V d:
1

Ngi bn
3

2
3

Ngi mua

Phng thanh ton b tr (1). Bn bn mua mt l hng X trn th trng gi 300USD/MT bn li 1 thng sau (2).Bn bn d kin gi hng X s gim sau 1 thng nn vo s giao dch bn khng l hng gi 300USD/MT (3). Sau 1 thng nu gi hng X gim xung 200USD/MT th ngi bn s l 100USD/MT trong giao dch trn th trng thc nhng li 100USD/MT trong giao dch khng ti SGD v ngc li

3.4. Hp ng quyn chn (Option Contract)

Hp ng v quyn chn mua hoc quyn chn bn l tha thun, theo bn mua quyn c quyn c mua hoc bn mt hng ha xc nh vi mc gi nh trc (gi l gi giao kt) v phi tr mt khon tin nht nh mua quyn ny (gi l tin mua quyn). Bn mua quyn c quyn chn thc hin hoc khng thc hin vic mua hoc bn hng ha . 4. Cch thc tin hnh giao dch ti SGDHH