Maritime Trade

This factual scenario raises various statutory issues at a lower place the law brass international profession agreements , which I set out in this report1 . Obligations and responsibilities of the vendor and the purchaser under the CIF Trade termsThe hold amongst parties is a CIF (cost , indemnification and freight ratify and as such(prenominal) , the Seller is overlookd to assemble the carriage of the goods , their insurance in transit and all cost of such arrangements are ordinarily included in the pledge price (Bridge , 2007 . Furthermore an unlearned element of a CIF seller s duty is to obtain a bill of lading , an insurance policy , any different document aimd by the conduct (Bridge , 2007 ) and to forward these to the purchaser .

The buyer then pays on the invoice only when they endure received the correct ecstasy documents (Bridge , 2007The fundamental feature of a CIF contract is that once a seller has shipped the goods , they gull 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 . define (1972] 2 Lloyd s Rep 515 ) as a contract for trade of the goods performed by supplyy of documents (Sealey Hooley , 2003 . As such , the CIF contract imposes wave-particle duality of obligations on the seller to deliver the goods and deliver the documents . The documentary obligations require the seller to procure and use up to the buyer the exact documents stipulated in the contract (Sealey Hooley , 2003 . Furthermore , in the case of...If you want to have a full essay, state it on our website: Orderessay

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