The purpose of this article is provide a general background to one of the most important terms in international contract drafting, Incoterms 2010 CPT. General Provisions of CPT CPT (Carriage Paid To) means that the seller delivers the goods to the carrier of another person nominated by the seller at an agreed place and that [...]
In a previous essay, I already explained the importance of Incoterms to drafting of international contracts and discussed one of the Incoterms 2010 (EXW). In this article, I will provide a brief overview of another and more common Incoterms 2010 – FCA. FCA (Free Carrier) means that the seller delivers (the Incoterms 2010 rules specify [...]
Incoterms (the ICC rules on the use of domestic and international trade terms) constitute a critical part of an international sales contract. Their most important contribution to the contract consist of a clear delineation of the parties’ respective obligations, thereby reducing the risk of misunderstanding and litigation. Moreover, Incoterms are regularly updated and, therefore, incorporate [...]
The new Incoterms 2010 replace and update a number of various features of Incoterms 2000. The new rules took effect on January 1, 2011. The following is a very brief description of some of the most prominent changes. 1. Reduced Number of Incoterms The number of Incoterms rules has been reduced from 13 to 11. [...]
Using Technology to Improve Delivery of Legal Services At Sherayzen Law Office, we are always thinking about how to use new technology to improve the delivery of legal services to our clients. For this reason, we have been investing in the acquisition of new technologies and finding better ways to use the existing ones. Starting [...]
The International Chamber of Commerce (“ICC”) has announced that Incoterms 2010 is scheduled to be launched in September and come into effect on January 1, 2011. Incoterms is the abbreviation for “International Commercial Terms” and were introduced by the ICC back in 1936 to provide people engaging in international trade a common set of trade [...]
We now offer Skype-enabled video conferences to clients throughout the world!
To schedule your consultation call now at 612.790.7024