Maritime Trade

This factual scenario raises various legal issues under the law organization international trade agreements , which I set out in this report1 . Obligations and responsibilities of the seller and the purchaser under the CIF Trade termsThe hold amongst parties is a CIF (cost , amends and freight take away and as such(prenominal) , the Seller is overlookd to commit the carriage of the goods , their insurance in transit and all cost of such arrangements are usually included in the contract price (Bridge , 2007 . Furthermore an innate element of a CIF seller s duty is to obtain a bill of lading , an insurance policy , any other document required by the contract (Bridge , 2007 ) and to forward these to the vendee .

The buyer then pays on the invoice only when they lose received the correct transferral documents (Bridge , 2007The fundamental feature of a CIF contract is that once a seller has shipped the goods , they have performed the contract by tendering conforming documents to the buyer (Treitel , 2007 . Indeed , it was described in the case of Hindley v E India Produce Co . restrain (1972] 2 Lloyd s Rep 515 ) as a contract for trade of the goods performed by part withy of documents (Sealey Hooley , 2003 . As such , the CIF contract imposes dichotomy of obligations on the seller to deliver the goods and deliver the documents . The documentary obligations require the seller to procure and look at to the buyer the exact docu ments stipulated in the contract (Sealey Hoo! ley , 2003 . Furthermore , in the case of...If you want to have a full essay, ensnare it on our website: OrderCustomPaper.com

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