Question
A ceramic manufacturer promised to deliver 25 crates of vases to a Japanese importer under a CFR INTERCOM agreement. During transit, however, a large number
A ceramic manufacturer promised to deliver 25 crates of vases to a Japanese importer under a "CFR" INTERCOM agreement. During transit, however, a large number of vases were broken. The buyer wants to pay the manufacturer only for the ceramic vases which arrived in a good condition saying that the manufacturer is responsible for the shipment and paying for the freight charges. Is the importer right in his/her claim? Assess the situation and justify your answer.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Under the CFR Cost and Freight Incoterm the seller is responsible for c...
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
