Case 2 CFR & shipping notice An import and export company in China signed an export contract with an importer in Marseilles, France on tablecloth for an amount of US$ 80, 000 CFR Marseilles , payment by D/P at sight. On the morning of January 8, 1997, the goods were all loaded onto the named vessel. The export salesperson in charge of this contract got so busy that he didn't remember to send the buyer the shipping advice until the next morning. Unexpectedly, when the French importer went to the local insurance company to insure the goods, the latter had already learned that the ship suffered a wreck on January 9 and refused to underwrite. The French importer immediately sent a telex saying "owing to your delayed shipping advice, we are unable to insure the goods. Since the vessel has been destroyed in a wreck, the loss of goods should be for your account. At the same time, you should compensate our profit and expense losses which amount to US$ 80,000. " Soon all the shipping documents sent through the collecting bank were returned to the export company, for the reason that the importer refused to take up the documents. What lesson t he exporter should learn from this case?