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6 Cards in this Set

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What do people typically rely on to define standard commercial terms as gap-fillers for the CISG?
ICC International Commerical Terms
(ICC Incoterms)
Can Incoterms be "governing law" in a contract?
No. It is simply a written form of custom and usage in the trade, which can be expressly incorporated into contracts if the parties wish.
FAS
Free Alongside Ship
Seller is obligated to deliver goods to the port of shipment only.
FOB
Free On Board
Seller is obligated to deliver goods on board a ship arranged for and named by the buyer at a named port.
CFR
Cost and Freight
Seller pays for transportation to the port of shipment, loading and freight. Buyer pays for the insurance.
CIF
Cost, Insurance and Freight
Seller is obligated to arrange for both transportation and insurance to a named destination port and then deliver the goods on board the ship arranged for by the Seller