Tagged: cif incoterms

CIF Incoterms means that the seller delivers the goods on board of the vessel. In addition to cost and freight to destination port, the seller must contract for the insurance. However, the risk of loss or damage during the carriage is for the buyer account. It is highly recommended to read the post about CFR Incoterms on Shipup Blog in addition to current post. 1. Who is responsible for Contacting the carriage and Insurance in CIF Incoterms? – The seller must contract for the carriage to the named place at destination. He also is obliged to contract for the insurance...