This chapter deals with [Insurance of FOB and Related [9 Contracts] that Exclude Sellers’ Insurance Obligations to the Buyer Under Incoterms] and follows the same pattern of Chaps. 4  and 5 . The contracts covered are the FOB, CFR including the old C&F, CPT, FCA, FAS, DAP, and DPU including their corresponding American versions under the UCC and Incoterms for Americans Guidelines. Prior to the main discourse the chapter puts the latest and applicable Incoterms 2020 in perspectives in relations to: at glance, insurance clauses, and comparisons with previous Incoterms. In relation to the FOB insurance the chapter delves into the requirement for notification by the seller to the buyer upon shipment as the seller has no obligation to insure. For each of all the nine contracts concerned under this category the chapter summarises the parties’ obligations in carriage, delivery, risks and passage of property whose breaches have implications on insurance. The chapter also covers other relevant insurance factors which the parties need to consider regarding these contracts, namely: problem of the recurring “No Obligation” to insurance statement; necessity for insurance notices and information; need for maximum insurance for international transport costs; carriage/delivery and security notices and information; sellers’ and buyers’ interest insurance; buyers’ and sellers’ contingency insurance; restrictive state insurance practices; and external factors and considerations. For ease of the readers’ convenience the chapter also contains a comparative table of parties’ Passage of Risks, Sellers Insurance and Buyers Insurance Obligations.

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Insurance of FOB and Related Contracts that Exclude Seller’s Insurance Obligations to the Buyer Under Incoterms

  • Professor Ademuni-Odeke

摘要

This chapter deals with [Insurance of FOB and Related [9 Contracts] that Exclude Sellers’ Insurance Obligations to the Buyer Under Incoterms] and follows the same pattern of Chaps. 4  and 5 . The contracts covered are the FOB, CFR including the old C&F, CPT, FCA, FAS, DAP, and DPU including their corresponding American versions under the UCC and Incoterms for Americans Guidelines. Prior to the main discourse the chapter puts the latest and applicable Incoterms 2020 in perspectives in relations to: at glance, insurance clauses, and comparisons with previous Incoterms. In relation to the FOB insurance the chapter delves into the requirement for notification by the seller to the buyer upon shipment as the seller has no obligation to insure. For each of all the nine contracts concerned under this category the chapter summarises the parties’ obligations in carriage, delivery, risks and passage of property whose breaches have implications on insurance. The chapter also covers other relevant insurance factors which the parties need to consider regarding these contracts, namely: problem of the recurring “No Obligation” to insurance statement; necessity for insurance notices and information; need for maximum insurance for international transport costs; carriage/delivery and security notices and information; sellers’ and buyers’ interest insurance; buyers’ and sellers’ contingency insurance; restrictive state insurance practices; and external factors and considerations. For ease of the readers’ convenience the chapter also contains a comparative table of parties’ Passage of Risks, Sellers Insurance and Buyers Insurance Obligations.