Sassoon: CIF and FOB Contracts explains and analyzes the law of contracts for the sale of goods carried by sea, in particular the Cost, Insurance and Freight (CIF) and Free on Board (FOB) terms. The work is a thorough and detailed study of this important area of commercial law, focusing on both providing clear and exhaustive guidance on the contractual and legal issues surrounding the performance of these commonly used terms and suggesting drafting solutions for loss prevention purposes.
Part of the British Shipping Laws Library, the work sets CIF and FOB sales in a commercial and legal context, explaining the global trade environment and legal systems in which they operate.
The 6th edition:
- Outlines the rule around the passing of the risk and title, and exceptions thereto at Common law and under the Incoterms® 2010 Rules
- Defines the form and substance of a CIF sale, its essential elements, and the variants in current use
- Covers the physical duties of the seller/shipper, including the effects of recent decisions on the fitness of the goods for a particular purpose, their quantity, quality and condition, and issues related to time and place of shipment
- Explains the crucial features of bills of lading in their dual capacity of documentary evidence of physical performance and part of the documentary tender in cash against documents transactions and under letters of credit and the UCP 600
- Discusses the form and substance of a FOB sale and its most common variants, and the advantages and disadvantages they may entail
- Explains the duties of the seller regarding delivery free on board including loading, stowing, and packaging, as well as documentary duties including the tender of bills of lading
- Discusses the most common issues related to licensing, embargoes, and prohibitions, and the most recent case law and solutions
- Discusses how the doctrine of force majeure and frustration can be used in the context of CIF and FOB sales
- Addresses difficult questions around conflict of laws in the European and international legal framework, covering jurisdictional issues under the Recast Regulation, arbitration as well as options and remedies available at Common law