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Essays on International Trade & Business
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| Mr Hobhouse for the plaintiffs, relying strongly on Johnson v Taylor Bros. & co ltd [1920] A.C.144 sought to insist first that the sale and purchase contracts between the plaintiffs and R.B.P was, to use his phrase, a classic contract. For myself I am not sure what additional force, if any, the adjective adds to the words 'c.i.f.contract''. It is trite observation that what is sometimes called true f.o.b or a.c.i.f contract is a comparative commercial rarity. Contracts vary infinitely according to the wishes of the parties to them. Though a contract may include the letter f.o.b or c.i.f amongst it terms, it may well be that other terms of the contract clearly show that the use of those letters is intended to do no more than show where the incidence of liability for freight or insurance will lie as between buyer and seller but is not to the mode of the performance of the sellers obligations to the buyer of the buyers obligations to the seller…..'' per Roskill LJ in Concord Petroleum Crop v Gosford Marine Panama SA (The 'Albezero') [1975] 2 Llyods Rep. p 295 at p.305.
1. Critically examine and assess the accuracy or otherwise of this statement and comment on the various f.o.b and c.i.f arrangements alluded to above.
2. Assuming, in each case, that payment is net cash against conforming documents, and that the contract is governed by English law, advise ABC,
A Nigerian oil company, and XY, and English oil dealer, who wish to sell
and buy 2000,000 litres of oil at f.o.b port Harcourt, or b) c.i.f London, on how best they can safeguard their respective interests. In particular, how they may minimise the usual risks inherent in overseas sales to which, political, legal, financial, physical, fraud, loss and short delivery. |
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