Chapter TWO:International Sales … continued

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Chapter TWO:International Sales … continued College of Law, Al-Mustansiriyah U. Fourth Year Course in Mercantile Contracts 2016-2017 First semester Lecture #8 Chapter TWO:International Sales … continued Focus on incoterms

Variance in seller and buyer duties and obligations The duties and obligations for the seller and buyer are different in each incoterm according to its requirements. In FOB Airport, the seller fulfills his obligations by delivering the goods to the air carrier at the airport of departure. The risk at loss or damage to goods is transferred from the seller to the buyer.

FAS requires the buyer to bear all costs and risks of loss or damage to the goods from the moment he receives them. The risks in FOB is transferred from the seller to the buyer when they goods pas the ship's rail.

Term, word and phrase meaning departure, damage, transferred, alongside, placed, quay, l lighters, on board, shipment, named, rail.