The 7LAW1062 international CIF contract and remedies for breaching CIF article explain the essential features of a CIF contract. A CIF contract requires the vendor to ship at the port of shipment the agreed goods. Also, the CIF contract requires him to arrange for insurance which will be available for the benefit of the purchaser. Understanding the seller’s rights and duties under a CIF contract will make it easy for a buyer to make crucial decisions. Notably, the vendor makes a commercial invoice and finally tenders these documents to the buyer. Importantly, the buyer must be ready and willing to pay the price of the shipped goods. Lastly, the 7LAW1062 international CIF contract and remedies for breaching CIF article helps in understanding the basics of a CIF contract.
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REMEDIES FOR BREACHING CIF ARTICLE AND THE ENGLISH INTERNATIONAL TRADE
The assignment discusses the remedies for breaching CIF article under international commerce. Importantly, there are two primary remedies for breach of contract in English law. Specifically, there is first, the right to treat the contract as terminated and secondly, damages. Failing to understand the seller’s rights and duties under a CIF contract can lead to a party exercising any of the two remedies. There are two situations exercised in which a buyer treats the contract as terminated. First, where the term broken by the seller is a condition of the contract. Therefore, in such a case, there is an entitlement for the buyer to treat the contract as discharged. The 7LAW1062 international CIF contract and remedies for breaching CIF highlights various issues and remedies in CIF contracts.
SELLERS RIGHTS AND DUTIES UNDER A CIF CONTRACT AND THE BUYER’S RESPONSIBILITIES
The essay also highlights the seller’s rights and duties under a CIF contract. Under CIF terms, the seller is responsible for specific protections for an order. There are several seller’s responsibilities associated with the CIF contract. Understanding the remedies for breaching the CIF contract is essential as well. First, there is the purchasing of export licenses for the product. Secondly, the seller covers the cost and contracts of moving or carrying the goods insurance to protect the value of the order. Thirdly, the seller provides inspections of products. Lastly, he covers the cost of any damage or destruction to the goods. Importantly, the seller must deliver the rights to the ship within the agreed-upon timeframe. Lastly, the 7LAW1062 international CIF contract and remedies for breaching CIF contract helps in understanding the seller’s duties and responsibilities.
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