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Commercial Law

Commercial Law (4th edn)

Eric Baskind, Greg Osborne, and Lee Roach
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date: 26 February 2024

p. 55320. International trade termslocked

p. 55320. International trade termslocked

  • Eric Baskind, Eric BaskindSenior Lecturer in Law, Liverpool John Moores University and Visiting Research Fellow, Oxford Brookes University
  • Greg OsborneGreg OsborneFormerly Senior Lecturer in Law, University of Portsmouth
  •  and Lee RoachLee RoachSenior Lecturer in Law, University of Portsmouth

Abstract

This chapter begins with an introduction to trade terms, before discussing in detail Fob and Cif contracts at common law, with a specific focus on the passing of property and risk in the goods, It concludes with a look at the attempts by the International Chamber of Commerce to standardize and clarify the meaning of these terms. Trade terms provide a mechanism whereby buyers and sellers of goods can conveniently express their intentions. Typically, so far as the parties are concerned, the key issue is the allocation of the cost of transportation of the goods from the seller to the buyer, but to the lawyer, more important are the issues of when risk and property in the goods pass, and when delivery is made.

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