Understanding FOB and CIF Contracts: And When Property and Risk Pass in These Transactions
13 Pages Posted: 28 Nov 2018
Date Written: November 5, 2018
The aim of this article is to critically, but simply determine when property and risk pass in FOB and CIF contracts. With the aid of relevant cases and statutes, this article will attempt to analyse the issues herein using the following structure; meaning of FOB and CIF contracts; differences between FOB and CIF contracts; the passing of property and passing of risk in FOB contract; the passing of property and passing of risk in CIF contracts; and finally, a brief summary.
Keywords: International Contracts, FOB, CIF, Passing of Property and Risk
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