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A Shipment Contract Requires That The Seller

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Academic year: 2021

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goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed upon between parties), and that the seller must contract for and

The seller completes its delivery obligation by delivery to a named port of shipment, cleared for export, but not loaded onto the vessel; the buyer nominates and hires the carrier

(C) Shipment Terms: If any one of the following shipment terms is specified on the date of trade, the Buyer shall notify the Seller and furnish billing instructions as follows:..

It is in the nature of shipment contracts that, while the seller is bound to pay the normal transport cost for the carriage of the goods by a usual route and in a customary manner

The seller has to arrange a contract for carriage, but does not have to assume the risk of loss or damage to the goods after shipment under the terms in the third

This term requires the seller to pay the costs and freight necessary to bring the goods to the named destination, but the risk of loss or damage to the goods, as well as any

 “C” Terms: Seller contracts for carriage, but does not assume risk of loss/damage or add’l costs during shipment; delivery occurs when goods are delivered to the carrier

Main Carriage FAS Free Alongside Ship (...named port of shipment) Unpaid FOB Free On Board (... named port of shipment) Group C : CFR Cost and Freight (... named port