This seminar will analyze liability issues faced by traders under sale contracts, including contrasting issues under FOB and CIF sale contracts for Sellers and Buyers; explaining who is responsible for issuing the BL and for making sure goods are not dangerous, whose responsibility it is to make sure the draft is correct, what happens in a CIF/CFR contract when the vessel arrives outside a CIF arrival date and what happens when a vessel arrives outside its delivery window in a DES contract. We will explore Tanker Charterparties in detail, covering common clauses, principal differences between the major different types of Charterparties, LOIs, sanctions and common claims. The second part of the course will explore Bills of Lading: functions, terms of a contract of carriage, the BL as a document of title and what to watch out for. We will close with a reminder of key demurrage principles under the different types of sale contract.
Operations, trading and in-house legal are encouraged to attend.