destination contract
A contract in which a seller bears the risk of loss until the goods arrive at the destination. UCC § 2-509. Cf. shipment contract. [Cases: Sales 201(4). C.J.S. Sales §§ 224–227.]
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destination contract
destination contract 目的地交货合同 一种货物买卖合同，当卖方在目的地交付货物之后，货物毁损灭失的风险才由卖方转移至买方。
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CIF destination
A contractual term denoting that the price includes in a lump sum the cost of the goods and the insurance and freight to the named destination. — Also termed C.I.F. place of destination. [Cases: Sales 77(2). C.J.S. Sales §§ 96–98.]
shipment contract
A contract in which a seller bears the risk of damage to the items sold only until they are brought to the place of shipment. • If a contract for the sale of goods does not address the terms of delivery, it is presumed to be a shipment contract. UCC §§ 2-319, 2-504, 2-509. Cf.
cost insurance and freight
cost, insurance, and freight. A mercantile-contract term allocating the rights and duties of the buyer and the seller of goods with respect to delivery, payment, and risk of loss, whereby the seller must (1) clear the goods for export, (2) arrange for transportation by water, (3) procure insurance against the buyer’s risk of damage during
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cost and freight
cost and freight. A mercantile-contract term allocating the rights and duties of the buyer and the seller of goods with respect to delivery, payment, and risk of loss, whereby the seller must (1) clear the goods for export, (2) arrange for transportation by water, and (3) pay the costs of shipping to the port of
carriage and insurance paid to
carriage and insurance paid to. A mercantile-contract term allocating the rights and duties of the buyer and the seller of goods with respect to delivery, payment, and risk of loss, whereby the seller must (1) clear the goods for export, (2) procure and pay for insurance against the buyer’s risk of damage while the goods
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free on board
free on board. A mercantile-contract term allocating the rights and duties of the buyer and the seller of goods with respect to delivery, payment, and risk of loss, whereby the seller must clear the goods for export, and the buyer must arrange for transportation. • The seller’s delivery is complete (and the risk of loss
cost, insurance, and freight
A mercantile-contract term allocating the rights and duties of the buyer and the seller of goods with respect to delivery, payment, and risk of loss, whereby the seller must (1) clear the goods for export, (2) arrange for transportation by water, (3) procure insurance against the buyer’s risk of damage during carriage, and (4) pay
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ransom bill
ransom bill. Int’l law. A contract by which a vessel or other property captured at sea during wartime is ransomed in exchange for release and safe conduct to a friendly destination. — Also termed ransom bond.