Commercial Transactions Archives - Page 6 of 15

October 2, 2017

When are Incoterms CRF and CIF terms used?

The Incoterms Cost and Freight (CFR) and Cost, Insurance and Freight (CIF) mean that the seller is then responsible for loading the products and paying any fees associated with the port and shipping. Therefore, CFR and CIF are commonly used terms in purchase and sale agreements where the buyer has slightly more negotiating power than the seller.

September 12, 2017

What do the Incoterms CFR and CIF mean?

Goods shipped under the condition Cost and Freight (CFR) must be loaded onto the method of transport by the seller. The seller is then responsible for paying any fees associated with the port of loading as well as paying the shipping cost to deliver the goods to the buyer. However, the cost of insurance (if necessary) and all fees associated with the port of call are borne by the buyer.

August 16, 2017

If a third party starts sharing an apartment with the renter, does this count as subleasing?

The rule against subleasing extends to situations where friends or family move in with the renter. Having a temporary visitor at a rented apartment is normally not a cause for legal action on the part of the landlord, but a problem arises if the visitor begins living at the apartment. If someone other than the renter begins living at the apartment, the additional party needs to also be on the rental lease.

July 24, 2017

Why is it important to have a Japanese contract translated by an attorney?

While a choice of language clause can help clarify which of the versions of the contract is the real one, it is important to have the translation as accurate as possible for a variety of reasons. When drafting a contract, each word carries special meaning and, if a sloppy translation is provided to one party, they may not have an accurate understanding of what the contract really says.