Describe and explain International Trade Delivery Terms.
List important terms and give explanations, discuss what needs special attention in international trade contract, especially in legal aspect.
The assignment should be around 1000-1200 words.
One thing needs to be reminded, the discussion of the legal issue with the contract only needs to write about 250 words. I mean that part of the question to be 250 words.
you can put that part at the end of the work, we mainly talk about the International Trade Delivery Terms.
The total words limitation is 1000-1200.
Sellers can also use CFR, which means cost and freight (Kadlubska, 2016). When this term gets used, it indicates that for the seller to fulfill their obligations, they have to shoulder all the costs associated with transporting the goods from their premises, across the sea, until they arrive at the buyer’s port of destination. Even though the seller covers these costs, the buyer will assume this responsibility when any harm befalls the goods after crossing the ship’s rails at the port of shipment. Cost Insurance Freight is the sixth terminology used during international transport (Kadlubska, 2016). The obligations of the seller under a CIF contract are similar to those espoused under the CFR contract. The only difference is that the seller will have to acquire marine insurance to cover any loss or damage that might befall the goods during transportation. Although the seller pays the insurance premiums, they recover the money by including it in the invoice they send to the buyer as part of the goods’ purchase price.