Colombian Trade Code - Decree 410 of 1971 - Book Five - Navigation - Part One - From the Navigation Aquatics - Title XII Transactions of the Sea From: Section 1688 At: Art: 1702

TITLE XII

TRANSACTIONS OF THE SEA

Section 1688 .- In all cases where, by convention or custom, the thing must be delivered to landing ship, the seller will be obliged to make the shipment of that thing on time or, failing that, the usual port of embarkation or within a reasonable time.
Section 1689 .- When you sell an entire lot or set of goods transport a named vessel or designate, the contract will be subject to the condition that the goods are loaded on the ship and get healthy at their port of destination.
Section 1690 .- In the cases mentioned in previous articles, the transfer of title and risk will only occur at the time of delivery of the goods to the buyer or his representative, the landing place of it.
Section 1691 .- Unless agreement or custom to the contrary, sales landing vessel shall be the designation of the seller.
Section 1692 .- In selling the shipment the seller will accept the obligation to ship the thing in the agreed period or in the usual port of embarkation, on one or more boats of your choice, so the journey is made quickly and safely. When the specification of the thing does not happen by designating the vessel to transport it, the risks will be borne by the seller until delivery of that thing at the end of the landing.
Section 1693 .- When band F. A. S. - Free alongside - means that the seller must deliver the thing ready for shipment, cost of transportation and place fixed by the contractors or the designated dock or warehouse.
The costs to the delivery of the thing in the manner provided in the preceding paragraph, shall belong to the seller.
Section 1694 .- When band F. 0. B. - FOB - the transfer of ownership and risk of the thing the buyer will take place at the time of delivery on board the vessel or means of transport designated by the purchaser.
Section 1695 .- In the sale F. 0. B. the seller must:

1. To put the thing on board the vessel or means of transport specified, performing on their own the expenses necessary for this, and

2. To procure the usual receipt or knowledge free of shipping and delivery to the buyer or his representative.

Section 1696 .- In the sale F. O. B. the buyer is obliged to pay the freight of the thing and other expenses from the time of delivery, and may claim for defects in quality or quantity within ninety days after shipment.
The judge may, knowingly, extend the time limit justifying circumstances preventing the buyer know the condition of the thing within that term.
Section 1697 .- When band C. I. F. - Cost, insurance and freight - or under any other equivalent term to indicate that the price of a thing understands the value of insurance and freight, following rules:

1. Seller shall bear the costs of carrying, conditioning, packaging, licensing and export taxes, shipping and, in general, all expenses necessary to stop the thing properly stowed on board the means of transport;

2. Seller shall bear the insurance and freight of the thing to the port of destination;

3. Unless otherwise agreed, risk shall pass to the buyer from the moment the thing is shipped in accordance with local practice;

4. The ownership of the property is transferred by delivery receipt or knowledge usually free of shipping the buyer or his representative, and

5. The buyer may claim for defects in quality or quantity within ninety days of the landing of the thing in the place of destination.

This period may be extended as provided in paragraph 2o. Article 1696.
Section 1698 .- When band C. & F. - Cost and freight - prepaid or under any other designation indicating a requirement for the seller to pay freight to the port or place of destination, but not insurance, transfer of title is to be made by delivery to the buyer or his agent, or the usual bill of lading clean. But the risks of the thing shall pass to the buyer from the time of delivery on board, in accordance with local practice.
Section 1699 .- Who is the depositary of the thing is not obliged to accept "consignment", unless this has been stipulated, but accepting them is entitled to be returned duly canceled out the certificate of deposit, which will be replaced by titles and orders fractions.
Section 1700 .- When stipulating that the payment of the price shall be made against delivery of bill of lading, alone or with other documents, the buyer is not required to receive and make the payment but to be delivered to you within the stipulated or usual, in the absence of either in a reasonable time. The seller must compensate the damages that the buyer causing the delay in the delivery of documents.
Section 1701 .- In the sale of documents, the legal business will be on a debt and not on the thing directly.
In this case, the vendor shall fulfill their obligations by transferring the documents required or, failing that, the usual, but will be responsible for the poor condition of the thing when it is apparent, or if the thing is of different quality specified in these documents or have hidden defects. This responsibility is governed by Articles 931 and following of this Code.
The seller is responsible for defects in quantity when something is shipped in smaller quantities than specified in the respective documents, or in case of loss prior to the transfer of title.
The buyer shall be obligated to pay the price in the previous article.
Section 1702 .- When paying the price must be made through a bank, the seller may reclaim from the buyer until after the rejection of that and if the seller has duly submitted the documents required by the contract or, in the absence of stipulation, the accepted by custom.
If the bank has opened an irrevocable credit is subject to the provisions of Chapter VI of Title XVII of Book IV.