This Lecture paper explore in succinct the obligations of seller and buyer under C.I.F and F.O.B contracts and further the focus will be on the legal perspective and the roles of the shipping documents in C.I.F.
CIF and FOB mainly differ in who assumes responsibility for the goods during transit.
contract rather than an f.o.b.
However, CIF contract has a very significant difference from FOB contract.
Sassoon: CIF and FOB Contracts explains and analyses the law of contracts for the sale of goods carried by sea, in particular the Cost, Insurance and Freight (CIF) and Free on Board (FOB) terms. These terms have been put in place so as to maintain uniformity, certainty and predictability in international trade agreements. PART TWO – CIF, CFR, DAP AND DAT SALES 13 8. CIF contracts are more detailed and the performance of the contract needs to be done by fulfillment of many specified conditions, delivery of documents to the buyer thus the FOB contracts are more flexible than of the CIF contracts or more free. To conclude, CIF and FOB contracts are the most important contracts in the field of International Trade.
For example, in the case of the Pyrene, Devlin J held that the matter of whether the commodities had shipped at any specific time depended on the division of …
contracts. Consider able variation is therefore allowed in FOB contracts. They are among the most common of the 12 international commerce terms (INCOTERMS) established by the International Chamber of Commerce (ICC) in 1936. and c.i.f. Contracts dealing with goods to be shipped often include an FOB clause, which stands for "free on board".
Then, it examines the legal obligations and rights of the buyer and seller under an f.o.b. Sassoon: CIF and FOB Contracts explains and analyses the key features of, differences between and issues around Cost, Insurance and Freight (CIF) contracts and Free on Board (FOB) contracts in the sale of goods.. Part of the British Shipping Laws Library, the work sets CIF and FOB sales in a commercial and legal context, explaining the global trade environment and legal systems in which … Both of them resemblance each other. 3. Introduction: CIF and FOB contracts share significant characteristics lacking from other varieties of international sale contract.
This brief discusses the legal implication why buyers and sellers would prefer a c.i.f. This means that the goods will be shipped to a specific place without cost.
Cost, Insurance, and Freight (CIF) and Free on Board (FOB) are international shipping agreements used in the transportation of goods between a …
CIF vs. FOB: An Overview . In all CIF, and arguably in many FOB contracts , possession is transferred constructively, by means of the shipping documents, which represent the goods.
and F.O.B contracts. The FOB (Free On Board) and CIF (Cost, Insurance and Freight) contracts are involved with international export sale contracts also called ‘export transactions’, although the FOB contract is loosely used in local commercial transactions  .
The brief starts by defining the f.o.b. In CIF agreements, insurance and other costs are assumed by the seller, with liability and costs associated with successful transit paid by the seller up until the goods are received by the buyer. The most commonly used Incoterms are listed below: FOB stands for “free on board”. Contracts FOB Law and Legal Definition. Its use would be “FOB ” where would be … FOB contracts. According to English case law, in FOB contracts, risk transfers when commodities ship.