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https://www.shippingsolutions.com/blog/terms-of-trade-uniform-commercial-code-and-incoterms-2020
Mar 27, 2017 · Terms of Trade: Uniform Commercial Code and Incoterms 2020 When companies negotiate a sale of goods, they typically specify the terms of the sale including when the seller transfers ownership of the goods to the buyer, who then assumes the associated risk of loss. This can occur before the buyer takes actual possession of the goods.
https://www.law.cornell.edu/ucc/2/2-319
(3) Unless otherwise agreed in any case falling within subsection (1)(a) or (c) or subsection (2) the buyer must seasonably give any needed instructions for making delivery, including when the term is F.A.S. or F.O.B. the loading berth of the vessel and in an appropriate case its name and sailing date.
https://www.investopedia.com/terms/u/uniform-commercial-code.asp
Nov 21, 2019 · Uniform Commercial Code (UCC) laws regulate sales of personal property and various other transactions. If you’ve ever purchased a business or a vehicle in the past, chances are you signed a UCC-1 statement. The title remains in the lender’s possession until the loan is paid off.Author: Daniel Liberto
http://purchasingnegotiationtraining.com/supplier-contract-management/meaning-of-freight-terms-specified-in-the-uniform-commercial-code-ucc/
First, understand that, delivery according to the UCC, is an intangible concept. Delivery occurs when and where the seller voluntarily transfers effective ownership of goods to the buyer. Once delivered, the rights of ownership and risk of loss rests with the buyer.
https://www.law.cornell.edu/ucc/2/2-322
§ 2-322. Delivery "Ex-Ship". (1) Unless otherwise agreed a term for delivery of goods"ex-ship" (which means from the carrying vessel) or in equivalent language is not restricted to a particular ship and requires delivery from a ship which has reached a place at the named port of destination where goods of the kind are usually discharged.
https://www.law.cornell.edu/ucc/2/2-504
Failure to notify the buyer under paragraph (c) or to make a proper contract under paragraph (a) is a ground for rejection only if material delay or loss ensues. Manner of Seller's Tender of Delivery. up § 2-505. Seller's Shipment Under Reservation.
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