Transnational Commercial Law

The acronym FOB refers to Freight on dialog box or disembarrass on Board which is a term that is commonly utilise in the shipping industry and more so in international shipping . It specifies clearly which party to the shipping select pays for the goods on board . This particular term whenever used in shipping documents means that the marketer is required to bear the price of transportation of goods to the port of destination . The Free on Board lead imposes various duties and obligations on both the buyer and the marketer . Prior to making any deliveries the seller must check off that he verifies that the goods argon in accordance with the from the buyer and that the goods are in their condition and status that was agree between the parties . some other major issue that the Free on Board contract emphasizes is that the seller delivers the dedication at the time and place agreed by the two parties .

According to this contract should the goods get modify while on transit it is usually the responsibility of the seller to bear the cost of the damaged goodsDocumentation is very essential in transnational commercial transactions just like in any other transaction . The seller therefore need to have all the documents necessary to enable him deliver the goods and more importantly he must ensure that on address , the consignment is actually received by the buyer and non by any other person thus ensuring that the consignment does not get lost in...If you want to get a full essay, order it on our website: Ordercustompaper.com

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