International Sale of Goods
Authors: Ivan Toskov and Svetoslav Yordanov
The publication discusses general rules concerning the most popular commercial transaction, namely the international sale of goods. A short analysis is made on the most popular and widely used general rules made by the International Chamber of Commerce in Paris, known under the name INCOTERMS.
The article discusses some practical problems of the present day concerning the international sale of goods. Some specificities of this type of contract related to the delivery, transportation, risk, insurance of the goods, payment of customs duties and charges, import and export of goods, etc. are analyzed. The article points out the ways of settling the relations between the parties as well as setting up their obligations under the contract for international sale of goods, contractually or by using the rules determined in the international practices. The authors analyze the most popular and widely used general rules made by the International Chamber of Commerce in Paris, known under the name INCOTERMS, which are a series of pre-defined commercial terms related to common commercial practices. The article explains the meaning of the rules applicable to all kinds of transport EXW, FCA, CPT, CIP, DAP as well as the ones specific for the water transport FAS, FOB, CFR and CIF. In conclusion the authors recommend elaboration of concrete and accurate general terms in every particular case, which to take into consideration the specificities of the relations between the parties. Along with that the authors recognize the practical significance of the INCOTERMS rules.