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Sale of Goods Act, 1962(Act 137)

Section 60 (1): In a c.i.f. contract, unless a contrary intention appears—
(a) it is the duty of the seller to obtain any necessary export licence;
(b) it is the duty of the buyer to obtain any necessary import licence.
(2) In a f.o.b. contract, unless a contrary intention appears—
(a) where the buyer is resident in the country from which shipment is to be made, it is the duty of the buyer to obtain any necessary export licence;
(b) in any other case, it is the duty of the seller to obtain any necessary export licence;
(c) it is the duty of the buyer to obtain any necessary import licence.
(3) Where a party is under a duty, whether under this section or otherwise, to obtain any necessary export or import licence, it is a question depending on all the circumstances of the case whether the duty is discharged where the party has used his best endeavours to obtain a licence, but nevertheless has not obtained one, or whether he is still bound to deliver or, as the case may be, to accept delivery of the goods.
(4) In a c.i.f. or f.o.b. contract the party who is required to obtain any necessary export licence is, unless a contrary intention appears, bound to pay any export taxes or dues in the nature of taxes, and the party who is required to obtain any necessary import licence is, in the absence of a contrary intention, bound to pay any import taxes, or customs duties or dues in the nature of taxes.
(5) In this section export and import licences include all permits without which it would be illegal to export or import the goods from or to, the country in question.

Subject : Nature and Formation of the Contract  

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