C.i.f. contacts - import and export trade, Business Law and Ethics

C.I.F. Contacts - Import and Export Trade

Therefore a c.i.f. like cost, insurance else freight whether contract is a contract for the sale of goods for be performed through the delivery of documents representing the goods, like i.e. of documents giving the right such to have the goods delivered, or like the right, whether they are lost or damaged, more of recovering their value, since like from the shipowner, or like from insurers, respectively. Further the duties of the seller such below a contract were explained in like; Clemens Horst v Biddel Brothers and are like:

(i)To ship at the port of shipment goods of the description contained in same the contract. Like one is

(ii)To procure a contract of carriage through sea, under that the goods will be delivered on destination contemplated through the contract. Like one is

(iii)To arrange for insurance upon the terms current in the trade that like will be available for the benefit of the buyer. And one is

(iv)To make out an invoice to the goods and one is

(v)To tender, within a reasonable time after shipment, like the bill of lading, like the policy or certificate of insurance and of the invoice to the buyer then he may obtain delivery of the goods, whether they arrive, or recover for their loss whether they are lost on the voyage. Therefore the bill like of lading tendered must correctly state the date about shipment, otherwise if the buyer can reject the goods: like;Finlay v Kwik Hoo Tong so.

Therefore below a c.i.f. contract the buyer has like a right to reject the documents of title, on delivery, such they show non-compliance with the terms about the contract. He as well has a separate right to refuse the actual goods whether, whereas delivered, they are found not to conform to like the contract. Hence like example in the Kwei Tek Chao v British Traders and like Shippers Limited. B sold goods to K who that were merchants, shipment for be made through date October 31. However the goods were shipped on date November 3. Conversely the date of shipment shown on the bill of lading was forged for show a shipment in year October, although B was ignorant of and never a party for the forgery. Conversely in ignorance of the forgery K paid the price and such received the documents, although before the goods arrived K discovered it. like K took delivery, although as the market had fallen was such unable to sell the goods there.

Posted Date: 2/1/2013 6:01:09 AM | Location : United States

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