Case Study 3 Our exporter exports a batch of clothes to Europe under CIF. The...
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Case Study 3 Our exporter exports a batch of clothes to Europe under CIF. The contract specifies that insurance is to be covered by the exporter against all risks with CICC and pay with credit. Our exporter ships the goods in nominated port of shipment within specified time and the shipping company signs bills of lading, and then our exporter negotiates with bank of China. The second day, our export are informed that the shipping vessel catches fire on the sea and all the clothes are burnt down. The buyer requires our exporter to lodge a claim with CICC, or else to refund. QUESTION: Is the buyer's request reasonable? Who will bear the damage caused by the fire
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