Answered
Canadian Farm Machinery Ltd. entered into a contract with High Seas Transportation, which set out the responsibilities of High Seas in delivering 100 tractors to Argentine Produce Inc. Argentine has not yet paid for the tractors. If this contract, along with any other required documents, and a sight draft are sent to Argentine Produce's bank, the bill of lading will not be released to Argentine Produce until it pays Canadian Farm Machinery, thus protecting Canadian Farm Machinery's ownership rights if Argentine does not pay.
On Jul 21, 2024