CIF Contracts and the Terms Contrary to Their Standards

CIF is unknown in Iranian law, although it is widely used in international trade of this country, which has made studying it inevitable. Knowing rights and obligations of parties, transfer of risk and titleand compensating damages in conclusion of contracts will help traders. Using contractual freedom, sometimesparties try to deviate from standard terms to gain more benefit or avoid more loss. This may result in including term contrary to CIF standards and unknowingly create difficulties in rights and obligations of parties and how to compensate it.This article studies CIF in British law and 2010 incoterms with a short review of Iranian law to: 1) clarify nature of CIF 2) clarifying rights and obligations of parties 3) indicate effect of terms contrary to CIF.