(Answered) Question shipping terms play an important role in

Management Studies

Question: Shipping terms play an important role in determining when title, risk of loss, and insurable interest pass from seller to buyer. What is the significance of such terms as CIF and FAS in determining such issues? What happens when the contract is clearly CIF but the seller claims that the "CIF" was a typo and that the parties knew it should have been "FAS"?

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