International Sale of Goods
The article is published in the new March issue of ‘Your Business’ magazine and discusses some practical problems of the present day concerning the international sale of goods. Some specificities of this type of contract related to the delivery, transportation, risk, insurance of the goods, payment of customs duties and charges, import and export of goods, etc. are analyzed. The article points out the ways of settling the relations between the parties as well as setting up their obligations under the contract for international sale of goods, contractually or by using the rules determined in the international practices. The authors analyze the most popular and widely used general rules made by the International Chamber of Commerce in Paris, known under the name INCOTERMS, which are a series of pre-defined commercial terms related to common commercial practices. The article explains the meaning of the rules applicable to all kinds of transport EXW, FCA, CPT, CIP, DAP as well as the ones specific for the water transport FAS, FOB, CFR and CIF. In conclusion the authors recommend elaboration of concrete and accurate general terms in every particular case, which to take into consideration the specificities of the relations between the parties. Along with that the authors recognize the practical significance of the INCOTERMS rules.
You can download the full text of the article here.
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