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6 Cards in this Set
- Front
- Back
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What do people typically rely on to define standard commercial terms as gap-fillers for the CISG?
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ICC International Commerical Terms
(ICC Incoterms) |
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Can Incoterms be "governing law" in a contract?
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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.
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FAS
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Free Alongside Ship
Seller is obligated to deliver goods to the port of shipment only. |
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FOB
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Free On Board
Seller is obligated to deliver goods on board a ship arranged for and named by the buyer at a named port. |
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CFR
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Cost and Freight
Seller pays for transportation to the port of shipment, loading and freight. Buyer pays for the insurance. |
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CIF
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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 |
