International Trade and Cargo Claims
Risk and Reward.
Risk and Reward.
21-23 May 2012
The ebb and flow of the market is the catalyst that dictates the behaviour of commercial parties. Contracts are the tools by which parties can take advantage of market turbulence. They can lock a buyer into a lucrative deal in a plummeting market whilst the same buyer, to escape a bad bargain, can exploit any discrepancy amongst such contracts.
This course will look in detail at:
Which party bears the risk for goods in transit?
Was the bill of lading or the insurance certificate a “good tender” under the CIF contract or the L/C?
Was the L/C opened as agreed under the sale contract?
Could the seller recover demurrage from the buyer when it had voyage-chartered the vessel?
Other courses tackle each of these complex contracts individually. However, delegates to such courses are left unprepared for the realities of international trade disputes, which often centre upon an allegation of discrepancy between a number of these four essential contracts, vis-à-vis one another. This course embraces commercial practice, where disputes often arise when the essential blocks of an international trade transaction are not drafted back to back.
