Tuesday, September 8, 2009

Contract invilved legal procedure.

Contracts involving sea routes:

In contracts of sale which involve sea rutes certain special clauses and conditions are to be found. The meaning of these clauses has been standard to an extent in accordance with the international customes and practices merchant.

F.A.S contracts:

F .A.S stands for free alongside ship. The property in goods sold under an fas contract passes from the seller to the buyer when the goods are delivered carriage.

Sellers duties:

1. To deliver the goods alongside ship.

2. To notify the buyer immediately that the good have been delivered.

Buyers duties:

1.to arrange for the contract of affreightment.

2.To notify give the seller sufficient notice of the name of the ship and time of delivery.

3.to pay all charges and to bear all risks from the time the goods are delivered alongside the ship.

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