Fender Marine as

1
Fender Marine as
Tore Høisæther Christian J. Lien
50
50
Approved Lloyds Cover Holder

• Yacht binders
• Boat Clubs binder
• Cargo binder

2
The Law of International Trade
P I - insurance
Cargo- insurance
Insurance Law
Insurance Law
Seller Buyer
Carrier/ Forwarder
Transport Law
Sale of Goods Act
3
CISG
United Nations Convention on Contracts for the
International Sale of Goods (Vienna - Convention
1980)

• Article 30
• 'The seller must deliver the goods, hand over any
  documents relating to them, and transfer the
  property in the goods as required by the contract
  and this convention'

4
The purposes of Incoterms
1. State the point of delivery

• 2. Divide the different costs between the seller
  and the buyer
• Who is responsible for
• - Arranging transportation
• - Paying the freight
• - Procuring the necessary licenses
• - Customs clearance ?
• - Arranging controls ?
• - Informing the different officials ?
• - Taking out cargo insurance ?

5
The 10 sections of Incoterms

• 1. Provision of goods in conformity with the
  contract
• 2. Licences, authorisations and formalities
• 3. Contract of carriage and insurance
• 4. Delivery
• 5. Transfer of risk
• 6. Division of costs
• 7. Notice to the buyer/seller
• 8. Proof of delivery, transport documentation or
  equivalent electronic message
• 9. Checking - packaging - marking
• 10. Other obligations

6
Group - C(Main carriage paid)

• Main carriage arranged by,
• and paid for by the seller,
• but for the buyer's risk
• CFR - Cost and Freight
• CIF - Cost, Insurance and Freight
• CPT - Carriage Paid To
• CIP - Carriage and Insurance Paid to

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CIF/CIP Sellers Obligations A4 Cargo Insurance

• A.The seller must obtain Cargo Insurance such
  that the buyer, or any other person having
  insurable interest in the goods shall be entitled
  to claim directly from the insurer and provide
  the buyer the insurance policy or other evidence
  of insurance cover.
• B.The Insurance shall be contracted with
  underwriters of good reputeand failing express
  agreement to the contrary, be in accordance with
  minimum Cover of the Institute Cargo Clauses
  (Institute of London Underwriters), or any
  similar set of clauses.
• The duration of insurance cover shall be in
  accordance with B5 og B4.

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C - Shipments
Shanghai Scandinavia
Pre carriage Main Carriage Final Carriage
Cost Risk Ins.
CFR CIF Oslo Incoterms 2000 CPT CIP
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Challenges for the Importer

• Payment
• Usually per Letter of Credit (L/C)
• Payment before goods arrive Europe
• Seller has no commercial interest in the goods
• Delivery / Transfer of risk
• When the goods leave Shanghai
• All losses are for the risk of the buyer
• Seller/Carrier controlling the carriage
• Cargo Claim
• Insurance placed with Chinese Insurers
• Claim has to be presented in China
• Are approved (by the Chinese) surveyors available
• - How is the claims handling
• Cargo Cover
• According to Incoterms, i.e. C-cover