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CIF contract of sale components
C.I.F. stands for "Cost Insurance and Freight" In fact; this contract imposes a variety of duties to the seller. In general this contract is known as a contract for sale and shipment of goods to the agreed destination. As far as the payment is regarded, it must be made against the production of the appropriate documents according to the contract. So, in case of CIF contract the seller undertakes more obligation than the buyer. All these obligations and duties of the both parties will be examined below.
The Duties of the Seller
·To ship the goods according to the cont…
- CIF contract of sale components
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