Sale of goods contract lies at the heart of international trade linking many contracts to each other.
Due to international nature of shipping the contract of sale involves carriage of goods from one country to another, hence, the sale contract on shipment terms necessitates contract of carriage and also cargo insurance. Carrier may be shipowner or charterer or sub-charterer and shipper may be seller or buyer and finally consignee may be buyer or an endorsee and the charterer may be seller or buyer or another entity.
United Nation Convention on Contracts for International Sale of Goods, 1980 (Vienna Sales Convention), has been widely adopted in international trade. In order to achieve certainty and uniformity the use of certain trade terms such as INCOTERMS and trade association standard forms (GAFTA, FOSFA, etc) have also become a universal practice.
However, in International sale contracts buyers and sellers or their agents have legal relationship with a number of other parties and therefore any breach will invariably have a domino effect and a party that breaches the sale contract may not only have contractual obligation to other party but also liability to others in tort or bailment.
With our team of highly experienced, UK, US and Middle Eastern qualified lawyers and an in-depth knowledge of shipping and local market, we offer comprehensive services including advice on issues related to financing of international sale contract, as appropriate.