Passing of Risk
Within the shipbuilding contract, the risk does not pass from builder to buyer until delivery of the completed ship. It is suggested that builder should take out an insurance cover before the delivery of ship.
Read more about this topic: Shipbuilding Contract
Famous quotes containing the words passing of, passing and/or risk:
“Happiness does not notice the passing of time.”
—Chinese proverb.
“The smooth sizzle of a passing motorcar.”
—Vladimir Nabokov (1899–1977)
“I saw the man my friend ... wants pardoned, Thomas Flinton. He is a bright, good-looking fellow.... Of his innocence all are confident. The governor strikes me as a man seeking popularity, who lacks the independence and manhood to do right at the risk of losing popularity. Afraid of what will be said. He is prejudiced against the Irish and Democrats.”
—Rutherford Birchard Hayes (1822–1893)