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lecure 6IT
Lecture6:Group “C” Trade Terms Contents: 1.CIF 2.CF 3.CPT 4.CIPT 5.FOB 6.FCA Aims: Grasping the differences of group C trade terms I. CIF(cost insurance freight) Cost Insurance Freight 1.Seller completes delivery when the goods pass the ship’s rail at the port of shipment; 2.Seller’s buyer’s responsibilities 3.Characteristics of CIF 4. Variants of CIF (CIF的变形) I. CIF 2.Seller’s Responsibilities (1)Goods (2)Licenses and customs formalities(海关手续) (3)Carriage and insurance (4)Delivery to ship’s rail (5)Risk transfer (6)cost(carriage, insurance, cost of loading, normal unloading, export duties, taxes, exporting formalities 3.Buyer’s Responsibilities (1)Payment (2)Importing licenses and customs formalities (3)Taking delivery (4)Risk transfer (5)Cost: unloading, lighterage(驳运费)wharfage(码头费,import formalities(进口手续 费), duties, taxes,ect. (110%) I. CIF 2.Seller’s Responsibilities: (7)Notice to the buyer (8)Transport documents (9)Checking ,packing, marking (10)others 3.Buyer’s Responsibilities (6)Notice to the seller: any changes about time shipment, ship port (7)Accept the transport documents (8) Pay for the cost of pre-shipment inspection (9)others I.CIF 4.Characteristics: (1)Cost and risk are separated between buyer and seller (2)Symbolic delivery: clean on board B/L(清洁提单) payment I.CIF Characteristics: 4.Variants of CIF (CIF的变形) i.”CIF liner terms”(班轮条款):seller or carrier bear the unloading ii.”CIF ex tackle(吊钩下交货):seller iii.CIF landed(卸至码头):seller iv.“CIF ex ship’s hold(舱底交接) Buyer pays for the unloading II.CFR(cost freight) 1.definition:pass the ship’s rail, cost freight, risk transfer 2.seller’s and buyer’s responsibilities 3.Comparision between CIF&CFR 4.Variants of CFR trade terms 5.Cases Analysis on P55,P52 II. CFR 2.Seller’s Responsibilities (1)Goods (2)Licenses and customs formalities(海关手续) (3)Carriage and insurance (4)Delivery (5)Risk transfer (6)cost(carriage, insurance, c
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