The seller is one of the top exporters of high quality red wines, with strong connections with players in the global logistics and insurance industries. Its factories are located inland, about 100 km from its home country's main port. The political and labour conditions in its country are stable, with an efficient port and road infrastructure. The buyer's factory is in Country A, about 200 km from the port of discharge. The political, legal and economic conditions in Country A are volatile, resulting in frequent violent strikes and other labour disturbances at the port and other parts of the country. The maritime journey between the countries typically experiences unpredictable weather. This is the first transaction between the buyer and the seller. > Recommend one possible INCOTERM® that would be relevant and fair for the above seller and buyer. > Recommend the relevant Institute Cargo Clause(s) to be purchased by the buver (MNC/SME/start-up). > The letter of credit described the cargo as alcohol and stated that the seller must tender a commercial invoice and an insurance certificate. The seller presented an insurance cover note and a commercial invoice, both of which described the cargo as wine. Advise the issuing bank whether it is required to pay the seller under UCP600. > The buyer inspected the cargo upon arrival. The cargo was severely damaged. Both parties are exchanging hostile emails about who should be responsible for the cargo damage. Recommend one dispute resolution method.
The seller is one of the top exporters of high quality red wines, with strong connections with players in the global logistics and insurance industries. Its factories are located inland, about 100 km from its home country's main port. The political and labour conditions in its country are stable, with an efficient port and road infrastructure. The buyer's factory is in Country A, about 200 km from the port of discharge. The political, legal and economic conditions in Country A are volatile, resulting in frequent violent strikes and other labour disturbances at the port and other parts of the country. The maritime journey between the countries typically experiences unpredictable weather. This is the first transaction between the buyer and the seller. > Recommend one possible INCOTERM® that would be relevant and fair for the above seller and buyer. > Recommend the relevant Institute Cargo Clause(s) to be purchased by the buver (MNC/SME/start-up). > The letter of credit described the cargo as alcohol and stated that the seller must tender a commercial invoice and an insurance certificate. The seller presented an insurance cover note and a commercial invoice, both of which described the cargo as wine. Advise the issuing bank whether it is required to pay the seller under UCP600. > The buyer inspected the cargo upon arrival. The cargo was severely damaged. Both parties are exchanging hostile emails about who should be responsible for the cargo damage. Recommend one dispute resolution method.
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The seller is one of the top exporters of high quality red wines, with strong connections with players in the global logistics and insurance industries. Its factories are located inland, about 100 km from its home country's main port. The political and labour conditions in its country are stable, with an efficient port and road infrastructure. The buyer's factory is in Country A, about 200 km from the port of discharge. The political, legal and economic conditions in Country A are volatile, resulting in frequent violent strikes and other labour disturbances at the port and other parts of the country. The maritime journey between the countries typically experiences unpredictable weather. This is the first transaction between the buyer and the seller.
> Recommend one possible INCOTERM® that would be relevant and fair for the above seller and buyer.
> Recommend the relevant Institute Cargo Clause(s) to be purchased by the buver (MNC/SME/start-up).
> The letter of credit described the cargo as alcohol and stated that the seller must tender a commercial invoice and an insurance certificate. The seller presented an insurance cover note and a commercial invoice, both of which described the cargo as wine. Advise the issuing bank whether it is required to pay the seller under
UCP600.
> The buyer inspected the cargo upon arrival. The cargo was severely damaged. Both parties are exchanging hostile emails about who should be responsible for the cargo damage. Recommend one dispute resolution method.
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