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FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
FAS – Free Alongside Ship (named port of shipment) The seller delivers when the goods are placed alongside the buyer's vessel at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment.
t. e. Commercial law (or business law), [1] which is also known by other names such as mercantile law or trade law depending on jurisdiction; is the body of law that applies to the rights, relations, and conduct of persons and organizations engaged in commercial and business activities. [2] [3] [4] It is often considered to be a branch of civil ...
The Merchant Marine Act of 1920 is a United States federal statute that provides for the promotion and maintenance of the American merchant marine. [1] Among other purposes, the law regulates maritime commerce in U.S. waters and between U.S. ports. Section 27 of the Merchant Marine Act is known as the Jones Act and deals with cabotage ...
Lemon laws consider the nature of the problem with the vehicle, the number of days that the vehicle is unavailable to the consumer for service of the same mechanical issue, and the number of repair attempts made. If repairs cannot be completed within the total number of days described in the state statute, the manufacturer becomes obligated to ...
International commercial law. International Commercial Law is a body of legal rules, conventions, treaties, domestic legislation and commercial customs or usages, that governs international commercial or business transactions. [1] A transaction will qualify to be international if elements of more than one country are involved.
Admiralty law. A bill of lading ( / ˈleɪdɪŋ /) (sometimes abbreviated as B/L or BOL) is a document issued by a carrier (or their agent) to acknowledge receipt of cargo for shipment. [1] Although the term is historically related only to carriage by sea, a bill of lading may today be used for any type of carriage of goods. [2]
uMkhonto weSizwe ( English: Spear of the Nation ), abbreviated as MK, and often referred to as the MK Party, is a left-wing populist [3] [6] South African political party, founded in December 2023. The party is named after uMkhonto we Sizwe (also shortened to MK), the paramilitary wing of the African National Congress (ANC) which was active ...
The sale and purchase of ship is an important aspect of the shipping industry. It may involve large amounts of money and requires brokers to possess knowledge of types of vessels and their function, knowledge of maritime law, as well experience in bargaining. To reduce the number of disputes and smoothen the sale and purchase procedure ...
Agency in English law. Agency in English law is the component of UK commercial law that deals with the application of agency law in the United Kingdom, and forms a core set of rules necessary for the smooth functioning of business. In 1986, the European Communities enacted Directive 86/653/EEC on self-employed commercial agents.