assignment question by referring to relevant legislation and case law, critically discuss what requirements a bill of lading must fulfil in order to constitute a valid tender under a c.i.f. contract.

assignment question by referring to relevant legislation and case law, critically discuss what requirements a bill of lading must fulfil in order to constitute a valid tender under a c.i.f. contract. assessment criteria 1.use knowledge and understanding of relevant legal principles 2.analyse and apply law 3.definite the key features of a c.i.f. contract 4.define bill of lading 5.list the requirements of a bill of lading to be considered a valid tender 6.relevant legislation and case law from the sale of goods act 1979 guide general information about cost, insurance, freight (c.i.f.) contracts. c.i.f. contracts represent a major commerce terms, ie, incoterms adopted by the international chamber of commerce. each incoterms envisages different rights and obligations for buyers and sellers. in a c.i.f. agreement, the seller sells the hoods for a price that includes the cost, insurance and freight. c.i.f. contracts are different from other incoterms especially from fob (free on board) in certain respects. c.i.f. contracts are considered as “sales of documents”. discuss the obligations of both parties: physical obligations of buyer – physical obligations of seller – documentary obligations of buyer – documentary obligations of seller – a clean bill of lading evidencing a contract of carriage by sea to the agreed place of destination. a marine policy covering the usual marine risks and any agreed additional risks. the invoice in the stipulated form. plus any additional document required in the contract or by trade usage. definition of the bill of lading explanation of its relevance in c.i.f. transactions. requirements for a c.i.f. to be valid tender so a seller can obtain payment from the buyer. use cases and academic views. consider exceptions for bill of lading for cif contracts.

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