Like a shipment contract, a destination contract is type of freight contract that concerns the sale of goods. Risk of loss of damage to the goods while they are in delivery is borne by the seller.
Ex-ship contract law a legal definition under an Ex-Ship contract the seller has to deliver the goods to the buyer at the port destination. In such contracts the property in goods does not pass until actual delivery.
In CIF agreement the seller sales the goods for a price including the cost of insurance and freight. CIF contracts are different from other INCOTERMS especially from FOB (free on board) in certain respect.
Difference between a shipment contract and a destination contract?
Destination contract are such in which goods are the property of seller until they are delivered to the buyer. Once they make it to their destination intact they became the property of the buyer. Shipment contract on the other hand are such where goods are the property of seller until they are delivered to the shipping company.