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International trade: Case of Dave Inc - Essay Example

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This research shall provide David Inc. the necessary advice in order to prevent Trade Dilemma in the way it transacts business internationally. The advice would include an explanation of the principles of cross border sales and its intricacies so as not to prejudice David Inc…
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International trade: Case of Dave Inc
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Download file to see previous pages From the research it can be comprehended that Dave Inc. a New York company entered into a contract with a UK based company named Imperial UK Ltd for the purchase of an industrial generator for Dave’s US operations. Dave Inc. has never done business with Imperial UK and wants to ensure that the generators paid for are delivered. The delivery clause specified in the contract is “FOB The Kawasaki”. While the generators was being loaded on the ship, the doors of the container van flung open and the generator landed in water before it crossed the ship’s railings. Who then bears the risk of the loss of the generator? Would your answer be different if it was a CIF contract? Advice Dave Inc on the principles of cross border sales and how the “Trade Dilemma” can be avoided. FOB (Free on Board) and CIF (Cost, Insurance and Freight) including are variations of contract of conveyance of goods from one country to another. For FOB and CIF, both terms describe the time or the circumstances when the burden of ownership, control or loss of the goods that were purchased shifts from the seller to the buyer. David Inc. has clearly provided the ship’s name (Kawasaki) in compliance to his obligation and duties under an FOB contract in the instant case. The duties of the seller under an FOB contract include the delivery of the items to the ship. Complete delivery as defined under the Hague Rule is when the items have already passed the ships rail. In the instant case the generator fell into the water before it has breached the rails of the ship, elucidated by the Hague Rule delivery was not completed by Imperial UK. Interpreted on another light no delivery has been made by Imperial UK, and therefore it is in default of its contract with David Inc. ...Download file to see next pagesRead More
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