This article analyses insurance of cif and cif related contracts2 under angloamerican and other common law jurisdictions, compares it with equivalent insurance obligation in fob contracts also. Unless otherwise expressly agreed in writing in the sales contract, this part one of these general terms and conditions shall apply only to all fob sales of products to be performed as sellers, either by cepsa trading, s. It is a bilateral act of the seller and the buyer to identify and set apart the goods. Contracts fob law and legal definition uslegal, inc. Main changes olegario llamazares the new incoterms 2020 are being drafted in the international chamber of commerce icc as the body that publishes them since 1930. Insurance of cif and related contracts under incoterms, anglo. Fob contracts, as well as those imposing a duty on the seller to pay for stowing and trimming. These terms have been put in place so as to maintain uniformity, certainty and predictability in. David m sassoon whether drafting contracts or considering the nature of these provisions in the context of a dispute, this book offers an easy to use reference to the principles behind cif and fob contracts. The work is a thorough and detailed study of this important area of commercial law, focusing on both providing clear and exhaustive guidance on the. The appropriation may be done either by the seller with the.
In all cif, and arguably in many fob contracts, possession is transferred constructively, by means of the. Oxford university press online resource centre further. The flexibility of the free on board fob contract makes it a far more attractive international sales contract option for exporters than the cif. The book explains and analyses the law of contracts for the sale of goods carried by sea, in particular the cost, insurance and freight cif. B contracts and further the focus will be on the legal perspective and the roles of the shipping documents in c. The international sale of goods and incoterms from a maritime. Fob stands for free on board and in its simplest form this contract means that the. This work provides a comprehensive statement of the law and practice relating to cif and fob contracts, the two main international shipping contracts. Cif and fob contracts goods in transit are a target for opportunists and thieves. Critically analyse this statement in relation to c. The significant feature of a cif contract is that performance of bargain is to be fulfilled by. Cif and fob contracts by filippo lorenzon, 9780421918900, available at book depository with free delivery worldwide. Apr 16, 2010 open library is an open, editable library catalog, building towards a web page for every book ever published. Cif and fob contracts represent the most commonly used shipment contracts.
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. Whether drafting contracts or considering the nature of these provisions in the context of a dispute, sassoon offers an easytouse reference to the principles behind cif cost insurance freight and fob free on board contracts. One of the central clauses in an international contract of sale is the trade term. Each incoterms envisages different rights and obligations for buyers and sellers. Transfer of ownership in case of sale of unascertained goods. Professor filippo lorenzon, professor of maritime and commercial law, and professor yvonne baatz, professor of maritime law, southampton law school recently published sassoon. Cif and fob contracts 6e thomson reuters australia. Under cif which belongs to incoterms group c main carriage paid, the seller nominates the vessel and pays the cost and freight to bring the goods right to port of destination. The distinction between an extended fob and a cif contract is that in the extended fob contract, services connected with the provision of the vessel and prepayment of. An examination of their principles and practical application in internal trade by john williamson introduction this article is a brief study ofvarious legal aspects and practices of international trade. 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. In the last decades, there has always been a revision of incoterms rules coinciding with the first year of each decade 1990, 2000, 2010.
Pdf a discussion and analysis of the bill of lading as a. Covers in full the cif and fob incoterms 2010 rules often incorporated by reference in shipment sales of commodities and manufactured goods. Evans, fob and cif contracts, alj, vol comparing cif and fob contracts law teacher nov 14, 2011. The work is a thorough and detailed study of this important area of commercial law, focusing on both providing clear and exhaustive guidance on the contractual and legal issues surrounding. The cif, as well fob, is one of the most common sale contract forms in nowadays trade, probably morethan any other contract used for the purpose of seaborne commerce. The essence of the cif contract law contract essay. Best pdf cif and fob contracts british shipping law library for ipad by david m. As well as being of fascinating historical interest, it explains how the modern legal. Sassoon offers an easytouse reference to the principles behind cif. Lorenzon, filippo and baatz, yvonne 2012 cif and fob contracts. This means that the goods will be shipped to a specific place without cost.
Security clearances in light of heightened concern about security in the movement of goods, there are more stringent security requirements for the export and import of. Everyday low prices and free delivery on eligible orders. Xxx ademuniodeke, phd insurance of cif and related. Shipping law library unlimed acces book by david m. The book explains and analyses the law of contracts for the sale of goods carried by sea, in particular the cost. Whether drafting contracts or considering the nature of these provisions in the context of a dispute, sassoon offers an easytouse reference to the principles behind cif cost insurance freight. It includes a detailed overview of many international cases with over 100 cases added since. Available formats pdf please select a format to send. The fob terms are an important part of the purchase contract. Cost simply pertains to the actual cost of the goods being purchased, insurance quite literally means that the goods will be protected by an insurance policy during their transit. The ma in d ifferences between cif and fob contracts under engl ish law cif contract is that when the seller has delivered the goods or provides them afloat. The right to reject the documents and goods in cif contracts a cif contract, which stands for cost, insurance and freight, represents one major commerce terms incoterms adopted by the international chamber of commerce.
Understanding the correct point of delivery in cif incoterms. Sassoon, application of fob and cif sales in common law countries, etl 1981, 5152. This skeleton can be added to, altered or tailored to fit the requirements of the parties using the term. These terms have been put in place so as to maintain uniformity, certainty and predictability in international trade agreements. Critically assess the rules on risk in relation to cif and fob contracts. Xxx ademuniodeke, phd insurance of cif and related contracts. Open library is an open, editable library catalog, building towards a web page for every book ever published. It is surprising that any exporter of goods would want to contract under cif terms. Remember that the incoterms 2010 are not a complete contract of sale. Fortunately for the bemused practitioner advising on such difficulties, the complexities of cif and fob are extensively and intensively elucidated and discussed throughout the eighthundred or so pages of this book, which provides any number of citations from case law, together with the views of other commentators.
Cif and fob contracts 5th edition by lorenzon, filippo, skajaa, lynne, baatz, yvonne, sassoon, david m. Sassoon on cif and fob contracts 9780414075290 sweet. The seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any. The author demonstrates the practical problems resulted from the distinctive characteristic of cif and fob contracts in terms of risk distribution in english law. This article analyses insurance of cif and cifrelated contracts2 under angloamerican and other common law jurisdictions, compares it with equivalent insurance obligation in fob contracts also. Topics include discussion of the practical impact of the. This latest edition of a wellknown work on cif and fob contracts is a welcome addition to the literature on the english law of international sale of goods. Unlimited read and download cif and fob contracts british. Search for library items search for lists search for contacts. We continue by explaining in more details the elements of the fob and cif contracts, as well as the rights and duties of the parties to those contracts. Includes express references to the most common standard form contracts in current use such as the gafta 2010 edn, and fosfa 2008 edn c.
Contracts dealing with goods to be shipped often include an fob clause, which stands for free on board. This lecture paper explore in succinct the obligations of seller and buyer under c. Specify the place or port as precisely as possible. Cif and fob contracts share significant characteristics lacking from other varieties of international sale contract. The origin of fob and cif terms and the factors influencing their choice. This work is part of british shipping laws and has coverage of cif and fob contracts. Sorry, we are unable to provide the full text but you may find it at the following locations. 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. Basic among these additional contracts are the contract of carriage by sea, under which the goods are transported from one country to the other and the contract of marine insurance, by which the parties protect. Fob contract, because it requires the performance ofa lesser number. Despite the development of technology and internet which by far have affected the way how business is conducted and contracts performed, goods save for intangibles are still shipped from the sellers place to the purchasers place in the traditional way, i. Contracts british shipping laws sixth edition by filippo lorenzon with yvonne baatz for chapters 15 and 16 isbn.
Gower, 1956, 417, whereas those functions are essential aspects of the cif sellers duties. Ademuni odeke xxx 1993the nature of cif contracts is it a. Sassoon, 97804215204, available at book depository with free delivery worldwide. He has to perform the contract by tendering conforming documents to the buyer. Transferofriskinthecontractofsaleinvolvingcarriageofgoods. For example, fca atlantic house, holborn viaduct, london, ec1a 2fg. Subject of the study introductory remarks 2 chapter i. The international sale of goods and incoterms from a maritime lawyers perspective incoterms are terms published by the international chamber of commerce icc, dealing with aspects of the sales contract such as. Jan 12, 2017 professor filippo lorenzon, professor of maritime and commercial law, and professor yvonne baatz, professor of maritime law, southampton law school recently published sassoon. Cif and fob contracts editors, lynne skajaa, filipo lorenzon by skajaa, lynne abebooks. Cost, insurance, and freight cif and free on board fob are international shipping agreements used in the transportation of goods between a buyer and a seller. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. An examination of their principles and practical application in internal trade by john williamson. Application of fob and cif sales in common law countries, proceedings of international congress on maritime and multimodal sale of goods and documentary credits, nice 2122 may 1981, european transport law, 16, 5059.
866 1512 368 27 718 1350 1175 733 377 1391 1626 1197 506 272 609 602 1228 460 1606 460 296 1042 291 1624 245 124 1580 729 697 203 573 725 1382 1251 1128 401