Overview The export potential of a business should be considered both in terms of its readiness to trade abroad and the suitability of its products and services for overseas consumption. Market research is vital to identify and evaluate the target market. The business should have a marketing strategy, financial resources and the required personnel. The […]
International Sale of Goods It is essential that there is a clear written contract between buyer and seller, specifying what has to be delivered and the terms of sale. Supply contracts should set out where the goods are to be delivered. It should specify who is responsible for every stage of the journey, including custom […]
Cost and Freight Cost Insurance Freight Under Cost and Freight (CFR) and Cost Insurance Freight (CIF), the seller is responsible for arranging and paying for the main carriage. The risk of damage and loss rests with the buyer. CFR and CIF are used in relation to transport by sea or inland waterways. Under Cost and […]
Free Terms The terms Free Carrier (FC or FCA), Free Alongside Ship (FAS) and Free on Board (FOB) provide that the seller is responsible for arranging for and delivering the goods to a carrier. FOB and FAS refer to sea or inland waterway transport. Under FAS the seller must complete all export documentation and is […]
Convention on the International Sale of Goods The Vienna Convention on the International Sale of Goods provides default rules, similar to those in the Sale of Goods Act, for international sales. If the parties are in different countries, there is an international sale, and they can stipulate that the international rules apply. The Convention has […]
General Because international trade involves multiple jurisdictions, various international bodies, governmental and private trade bodies have developed uniform rules, forms and conventions in order to facilitate trade. Some uniform rules are intended to apply to all international trade transactions of a particular type. Some are given the force of law by Conventions entered by States […]