Full Description
The book deals with insurance of the 11 rules in Incoterms 2020 and under Common Law. Incoterms, cargo insurance and common law principles are the leading players in international commercial transactions. Although based on common law principles, Incoterms and cargo insurance practices have global application as all other legal systems and jurisdictions look to the common law for guidance.
The book examines the importance of insurance in international commerce, extent of the parties' insurance responsibilities at common law and under Incoterms 2020 Edition. Prior to detailed treatment of insurance aspects, it places the subject into perspective and context by including the wider, but related, discussions of the history, nature, property and risks transfers, as prerequisite background of the international sales contracts. Central to the book is focus on FOB and related Incoterms without sellers' insurance responsibilities, in contrast to CIF/CIP Incoterms with sellers' insurance obligations. It then proceeds to a wider investigation of the full extent of parties' insurance responsibilities at common law and under Incoterms 2020.
Contents
PART I: THE ROLE OF THE ICC AND INSURANCE AND INTERNATIONAL TRADE.- The Role and Importance of the International Chamber of Commerce (ICC) and Incoterms in International Trade.- The Role and Importance of Insurance in International Trade.- PART II: INSURANCE OF CONTRACTS WHICH EXCLUDE SELLERS' OBLIGATIONS TO PROVIDE INSURANCE FOR THE SELLER.- The Nature and Characteristics of the Contracts.- Insurance of Contracts which exclude Sellers' Obligations to provide insurance for the Buyer at Common Law.- Insurance of Contracts which exclude Sellers Obligations to provide insurance to the Buyer under Incoterms.- PART III: INSURANCE OF CONTRACTS WHICH INCLUDE SELLERS OBLIGATIONS TO PROVIDE INSURANCE TO THE BUYER.- The Nature and Characteristics of the Contracts.- Contracts which Include Seller's Obligations to Insure at Common Law.- Insurance of Contracts Which Include Sellers Obligations to Insure under Incoterms.- PART IV. FOB-CIF WAR RISKS AND OTHER INSURANCE CONSIDERATIONS.- Insurance of War, Terrorism and Piracy Risks.- Other Insurance Avenues and Considerations.- Tender of Documents under Common Law and UCP.- PART V: DISPUTE SETTLEMENT, CLAIMS AND CONCLUDING REMARK.- Conflict of Laws.- Claims and Settlement.- Concluding remarks.
