The liabilities of the parties at CIF sale contracts in accordance with incoterms 2010 rules

The carriage of goods to different countries and the nonrecognition of the parties cause lots of difficulties in international trade area. In order to come up with these difficulties, ICC had constituted Incoterms Rules and makes these rules available to tradesmen. Incoterms Rules are being innovated in accordance with the necessities of trade life and technological developments. Finally, Incoterms Rules are updated in November 2010 and tradesmen can use these rules from 01.01.2010.To be able to use the Incoterms Rules, parties must explicitly manifest their will in the contract between them. In the same way, parties must make it clear that which version of the rules they will use.Since the usage of Incoterms Rules will affect the rights and obligations of the contract parties, to understand the content of trade terms and to use the appropriate trade terms in accordance with transportation type have a great significance. For this purpose, the delivery species in Incoterms 2010 are separated into two parts, namely, the species which are convenient to all transportation methods and to only sea and inland water transport.CIF is one of the delivery types which are regulated in Incoterms and it is being used very commonly in overseas trade area. To be able to use the Incoterms Rules to CIF delivery type, the contract parties should evidently put CIF Incoterms 2010 provision into the contract.CIF delivery is a type of freight sale and seller?s obligation to deliver is perfected by delivering the goods to the ship determined in the contract at the loading port. Detriment liability is transfered to seller to the buyer at this point.In the CIF delivery type forming freight and insurance contracts is also a main obligation of seller.In this thesis CIF delivery type is researched according to the rules of Incoterms 2010. In first part of the thesis Incoterms and CIF delivery type were examined generally and in the second part the rights and obligations of seller and buyer were analysed.Key Words1.CIF2.Incoterms 20103.ICC Rules4.International Trade5.Maritime Law