MediMARE Game - Misleading Incoterm clause
MediMARE GAMES are a series of games related to the project's main issues in order to promote the knowledge and reflection about maritime disputes and mediation.
Misleading Incoterm clause
In this game, the player will be able to think about Incoterms.
Incoterms (International Commercial Terms) are contractual terms elaborated by the ICC and that sellers and buyers incorporate into their international contracts for determining the obligations of the parties regarding the transportation costs and responsibility, where goods will be delivered (and thus where the obligation of the seller ends), insurance and export costs (taxes, declarations and other import and export obligations). The incorrect use of the Incoterms in the contract may lead to mistaken obligations / responsibilities of the Parties. Examples being who bears the risk of loss or damage to the goods while in transit, or who is responsible to pay for international transportation.
The ICC International Centre for ADR is very respected. It has mediation rules in varied languages and there is a great team to support in the mediation process.
The LMAA is a very respected Institution and provides for arbitration and mediation.
They are both good choices!
Mediation has started and the parties have reached a settlement agreement.