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Showing posts from November 11, 2016

The Use of Transport Documents in International Trade

The Role and Function of Transport Documents in International Trade International sale of goods, i.e. the sale of goods across national borders, poses different challenges to sales in a domestic environment. Sellers and buyers are typically located in different countries and the goods sold are often not in the physical possession of the seller, but in the hands of a third party, possibly in yet another country or on board a vessel. Invariably, international sales involve transportation of the goods, often over large distances. This means that either the seller or the buyer needs to make arrangements relating to the transportation and insurance of the goods sold. Above all, both parties to the sale contract need to perform their respective main obligations, that is, the delivery of goods in accordance with the contract (seller) and payment of the agreed price (buyer), while at the same time seeking to ensure contractual performance by the other party. Sales on shipment terms, such