1. Chapter TWO:International Sales … continued
College of Law, Al-Mustansiriyah U. Fourth Year Course in Mercantile Contracts
First semester
Lecture #9
Chapter TWO:International Sales … continued
Focus on incoterms

2. 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 C & F the seller pays cost and freight, and risk is transferred to the buyer after goods pass the ship's rail.
CIF requires the seller to procure insurance against risk and damage.

3. Term, word and phrase meaning
Freight,
damage,
cost,
insurance,
premium,
procure,
marine,
carriage,
contracts with,
insurer.