Lord Wright in Smyth  described CIF as a contract that is widely and frequently used than any other used for the purposes of sea borne commerce. CIF is a defined Incoterm under the Incoterms . It could be said that CIF serves better the interests of the seller as a shipper. The seller has the benefit of charging a higher price, taking into account extra services. The seller has also, the advantage of receiving the transacting money before the goods actually reach the buyer.
The impact of pacta sunt servanda in the law of contract
A Study of the Principle of Pacta Sunt Servanda under International Law
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Pacta Sunt Servanda is an essential concept under the Public International Law that deals with relations between two or more nations. This article focuses on the meaning and concept of the principle of Pacta Sunt Servanda, its relevance today and the exceptions to this rule. The principle of Pacta Sunt Servanda regulates the relationship between two or more countries that enter into an agreement.