C I F Contract

 CIF contract means cost, insurance and freight contract. In a CIF contract the costs, insurance, and the cost of freight of the goods must be accomplished by the seller (Johnson v Taylor Bros)(1920) AC 144 at 145.

Generally the goods remain at the seller’s risk until it transferred to the buyer. However there are exceptions to this rule; e.g. CIF, FOB whereby the risk can be transferred before the delivery of the goods to the buyer( Sterns v Vickers[1923]1 KB 78 ) .

 Under a CIF contract a buyer will be able to know the exact price he has to pay for the goods including the freight and insurance. The buyer is released from the burdensome duties of securing shipping space, arranging the carriage contract, and procuring the insurance policy. Moreover, CIF contract allows a buyer to resell the goods before they arrive, because of the use of documental contract; whereby the documents represent the goods. Use of document also facilitates the financial institutions involvement; e.g. the buyer’s bank will not take possession of the goods rather they prefer to take up and hold the documents as security for the advance of the price. Thus the seller is also become assured of getting his payment back through showing the documents even the goods are damaged or never arrived. However the buyer is generally protected against such losses by the bill of lading, giving a contractual right against the carrier, and the insurance policy, which covers most accidental losses.

The risks of market fluctuation have to be considered by the buyer and seller both. So the law should be clear so that the trader can take decisions rapidly. CIF contract needs a much more development in light of present world.

SUMMARY OF CHILD LABOUR

   Child labour conventionally refers to children working before they reach the lawful minimum age. It deprives children from childhood and their dignity which hampers their education and acquisition of skills. Child labours are involved in many worst form of employment, for example, forms of slavery, sexual exploitation (prostitution or pornography), illicit activities, hazardous work that harms their lives, health and morals. The major reason behind child labour is poverty. Children in developing countries work because they have to run their families, there are also unavailability of schools and cultural pressures which prevent them going to schools. . However, there are some laws to protect child labour. Such as the Minimum Convention 138 which sets a minimum age of 15 for legal employment. Convention 182, (1999), calls for the elimination of the worst form of child labour (physical, psychological, sexual abuse etc.). Before that, in 1989 there was convention on the rights of child. This instrument incorporated the full range of human rights for the children. Article 32 of the convention gave the children right to be protected from any work which is harmful to their health or physical, mental, spiritual, moral or social development. Also the United Nations through the UN CONVENTION ON THE RIGHTS OF THE CHILDEN 1989 enacted some articles, such as, art 11, 19 20 etc to protect the children’s right. Different NGO’s are working to protect the children and to implement the child labour laws. They are providing free education, training, giving financial help etc. However, the amount of child labours around the world have not reduced as much as it was expected because of proper implementation of the laws and taking appropriate steps to prevent children going to work. For the long lasting solution of child labour, there must be a national development strategies backed by effective legislation.

“IS FAIRTRADE FAIR” DISCUSS THE CASES FOR AND AGAINST THE ESTABLISHMENT OF FAIRTRADE INITIATIVES.

“IS FAIRTRADE FAIR” DISCUSS THE CASES FOR AND AGAINST THE ESTABLISHMENT OF FAIRTRADE INITIATIVES. Summary: Fair trade is a tool for development. The main motive of fair trade is to help the poor producers fight from poverty and to reduce the gap between developed and developing countries so that the developing countries can also contribute to the world economy. Fair trade can be achieved by offering the producers a price which covers their cost of production and providing long term contract which assist predictable planning. But there are various problem of fair-trade and the main problem is the consumer is not able to take the benefit and the producer can taka a benefit.  Moreover there are many other reasons which is making Fair-trade ineffective, e.g. Fair Trade products seems to be much more expensive than the conventional ones. Labels of Fair Trade tell the people that certain criteria’s has been met in the production process. However that is not so true. Ethical initiatives are increasing day by day and some of them may be independently verified and others may be not. At present days the retailers and consumers are both interested in ethical sourcing. As we know, Fair trade standards were mainly aimed to guarantee human rights at all levels of global trade from producers to consumers..However, things are not as easy as it looks. Because of the above mentioned problems, the main objective of fair trading is not being achieved. If the problems are solved, then the producer will taste the real benefit of fair trade. Also because of various problems the main objective of fair-trade is not being achieved. If the problem of fair trade are solved the doctrine of fair-trade will contribute in the world economy.