Report on the trade in refrigerated beef, mutton and lamb

Bibliographic data

Monograph

Identifikator:: 1800540760

URN:: urn:nbn:de:zbw-retromon-185131

Document type:: Monograph

Title:: Report on the trade in refrigerated beef, mutton and lamb

Place of publication:: London

Publisher:: Stat. Off.

Year of publication:: 1925

Scope:: vi, 65 Seiten; Ill., graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter V. The trade in Great Britain

Collection:: Economics Books

20) in accordance with the bill of lading, the buyer claims for a shortage upon the shipping company. A merchant will sometimes speculate by making a c.if. sale without having the goods. This is done when forward prices are high and when, in his view, falling prices may be anticipated. In order to fulfil his contract, he will buy goods later on of the specification required; if he cannot do so, he is, of course, liable 50 damages for breach of contract to the extent of the loss of profit incurred by the buyer. Goods sold c.i.f. are usually sold on bill of lading weights. These are taken at the freezing works, the carcases being weighed after dressing and a percentage deducted for the loss of weight which always occurs on cooling and freezing. Upon these weights, the freezing company pays the freight, and they are stated on the bill of lading. If the buyer intends to send the goods direct from the ship to country depots, he usually arranges bo have them weighed at the ship’s side; if they go into cold store, they are automatically weighed as they leave the store. In this way, a buyer has a check on bill of lading weights and if the ex-store weights show a loss of over 1 per cent. of bill of lading weights, the seller gives the buyer credit for the whole amount of the shortage. The cold-store weights must be sent to the seller within 28 days of the discharge of the steamer, otherwise he is not liable to make up this shortage. The c.i.f. business must be handled with great care as disputes can easily arise. To obviate them, as far as possible, the British Incorporated Society of Meat Importers has drawn up a standard contract form based upon experience of disputes. (b) F.O.B. (Free on Board).—This method of sale differs from the above in that the buyer pays freight and insurance, the money being payable at the port of loading and not discharge. Such purchases are not usually made by merchants in this country, but may be made by their representatives in the pro- ducing country. By paying the freight and insurance. the goods can be sold ¢.i1.f. (¢) Ex-ship.—This method of sale is similar to a c.i.f. sale, except that, in this case, the seller pays the port dues. He, himself, presents the documents to the shipping company and issues a delivery order in favour of the buyer. As a rule, in making an ex-ship sale, a seller retains any insurance survey award (g.v.). This sale is usually made just before the ship arrives, or even while it is discharging; it is frequently made when a seller prefers to take the market prices of the day rather than to incur storage charges. From the buyer’s point of view, it has the advantage of being made when selling prices are known. By deducting the management rate (i.e., the cost of taking to store and the first month’s storage) from the ex-store market price of the day, the buyer can arrive at practically the equivalent sx-ship price.

Access restriction

Copyright

fullscreen: Report on the trade in refrigerated beef, mutton and lamb

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation