Chapter 1

1. Signature date – Date of coming into force – The relationship between these 2
dates with Delivery date.
2. Cut-off date. Why do we need to regulate a cut-off date in the contract?
3. What is the meaning of grace period when regulating the delivery date?
4. What content should be put in the force majeure clause?
5. Compare Liquidated damages, Penalty and Quasi – indemnity.
6. Negotiable B/L vs. Non-negotiable B/L.
7. Examples about notes on B/L that makes it ‘unclean’.
8. Examples about notes on B/L that DO NOT make it ‘unclean’.
9. The point at which there is a transfer of risk, title and insurance from Seller to
Buyer. (FOB, CIF, EXW, DDP).
10. Compare Insurance policy, certificate of insurance, letter of insurance.
11. Floating policy vs. Open cover.
12. Explain the Institute Maintenance of Class Clause. Why does the insurance
company often add this clause to their agreement with the insured under floating
policy or open cover?
13. Valued policy vs. Unvalued policy.
14. Time Policy vs. Voyage Policy.
15. Cargo Clause A, B and C. What do they have in common and how are they
different? (p.63)