CIF – COST INSURANCE AND FREIGHT
SELLER’S OBLIGATIONS
INSURANCE BUT NO RISK ? - Seller bears transport costs and insurance until arrival but not risk? Note that in case of containerised traffic, the proper or suggested incoterm would be CIP (Carriage Insurance paid To).
WHICH CARRIER ? - Who is to choose carrier? The seller which pays and insurances the transport? Or the buyer which bears risk during main transport?
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BUYER’S OBLIGATIONS
RISK INADEQUATE ? - Risk is transferred before arrival at port. Can buyer bear this without having "control" of main transport (costs/haulier contract?) or insurance (in whose name is merchandise insured?).
SELLER’S OBLIGATIONS
INSURANCE BUT NO RISK ? - Seller bears transport costs and insurance until arrival but not risk? Note that in case of containerised traffic, the proper or suggested incoterm would be CIP (Carriage Insurance paid To).
WHICH CARRIER ? - Who is to choose carrier? The seller which pays and insurances the transport? Or the buyer which bears risk during main transport?
----- ----- ----- ----- ----- -----
BUYER’S OBLIGATIONS
RISK INADEQUATE ? - Risk is transferred before arrival at port. Can buyer bear this without having "control" of main transport (costs/haulier contract?) or insurance (in whose name is merchandise insured?).