Answer to Question #125182 in Economics for Catherine

Question

A Chinese import and export company concluded a Sales Contract with a Holland firm on August 5th, 2018, selling a batch of certain commodity. The contract was based on CIF Rotterdam at USD 2500 per metric ton. The Chinese company delivered the goods in compliance with the contract and obtained a clean-on-board Bill of Lading. During transportation, however, 100 metric tons of the goods got lost because of rough sea. Upon arrival of the goods, the price of the contracted goods went down quickly. The buyer refused to take delivery of the goods and effect payment and claimed damages from the sellerHow would you deal with this case? Please write at least 180 words.

Answer 1

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